You may have noticed a strange new type of signup bonus offer when applying for certain American Express cards lately. Instead of stating a clear finite bonus amount like “Earn 100,000 Membership Rewards points,” these new offers tout “Up to XX points” bonuses.
As reported by Doctor of Credit, the Platinum Card currently state “Up to 150,000 Membership Rewards points. Find out your welcome offer if you’re approved.” And the Gold Card offer reads “Up to 90,000 Membership Rewards points. Find out your welcome offer if you’re approved.”
I recently tested out one of these offers myself. After submitting an application for the 150k “up to” Platinum offer, I was presented with two options:
- Earn 75,000 Membership Rewards points after $8,000 spend in 6 months for The Platinum Card
- and Earn 125,000 Membership Rewards points after $8,000 spend in 6 months for American Express® Gold Card
So, while less than the advertised 150k maximum, these are still strong bonuses. You can test yourself by clicking below link.
How This New Bonus Structure Works?
According to the terms and conditions, here’s how this new “up to” bonus system functions:
- You submit your card application as normal
- If approved, American Express will inform you of the exact signup bonus you are eligible for
- This could be any amount up to the advertised maximum (e.g. up to 150k points for the Platinum)
- You then decide whether to accept the card with the specific bonus they offer you
So in contrast to traditional, fixed-amount bonuses, you won’t know your exact bonus amount until after submitting your application.
Why these changes?
This new structure likely represents an attempt by American Express to curb profit losses from heavy churners constantly opening cards for bonuses. If there are successful in m making bonuses variable, they can offer very high ceilings to attract applications while actually approving most people for lower amounts.
Of course, this lack of transparency places more risk on the applicant. You won’t know if you’ll actually receive the maximum advertised bonus until agreeing to a hard credit pull.
What Bonus Amounts to Expect
While there’s no concrete data yet, it seems unlikely Amex would actually approve people for 0-150k point bonuses. However, as my experience shows, they may offer standard amounts like 80-125k instead of the advertised 150k ceiling.
As readers report back with their approved bonuses, we’ll have a clearer sense of typical amounts under this new system. For now, proceed with caution if applying for one of these “up to” offers.
Verdict
Based on this initial experience, I would advise waiting for more data points before rushing to apply. While the bonuses I was offered were solid, being presented with lower than advertised amounts after already submitting an application is disappointing.
The key point is American Express finding new ways to limit bonus payouts. The credit card game is becoming unfriendly to heavy optimizers, so staying informed on the latest restrictions is crucial.
Share your thoughts in the comments below.
