The coronavirus outbreak has shaken lives and the global economy to their cores. As consumers and small business owners adjust to changing circumstances, they are also adjusting their financial strategies. One of the largest credit card issuers, American Express, has decided to amend their deadlines around welcome bonuses for new cardholders.
Here’s everything you need to know about the American Express's updates to its card offers.
American Express welcome bonus extension
American Express has decided to make the following amendment for cardholders trying to meet the minimum spending requirements to earn their bonuses:
Due to the impact of COVID-19, for eligible Card accounts approved from Jan. 1, 2020 through April 30, 2020 for which you are eligible for a welcome offer, the period to make eligible purchases to earn your welcome bonus will be extended for an additional three months. Eligible Cards are U.S. Consumer and Business Cards issued by American Express National Bank to a basic card member.
This means that if you applied and were approved within the above dates, you will have an additional three months to earn that coveted welcome bonus. This is helpful, since many consumers and small business owners are drastically cutting or changing their expenses. And while a credit card welcome bonus may seem trivial, many people use these bonuses to accelerate their cashback earnings or put cash into their businesses.
Best American Express welcome offers available
Welcome offers are an excellent way to jump-start your cash back or point earnings. Whether you have a personal or business credit card, you can earn significant rewards for meeting the spending requirements for these bonuses.
These are a few American Express welcome offers, and their estimated values.
|Card||Welcome offer||Value of offer||Annual fee|
|Blue Cash Preferred® Card from American Express||Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.||$250||$0 introductory annual fee for one year, then $95 See Rates & Fees|
|The Platinum Card® from American Express||Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.||$1,200||$550 See Rates & Fees|
|Delta SkyMiles® Gold American Express Card||Earn 50,000 bonus miles after you spend $2,000 in purchases on your new Card in your first 3 months, Offer Expires 10/28/2020.||$840||$0 introductory annual fee for the first year, then $99. See Rates & Fees|
|American Express® Business Gold Card||Earn 35,000 Membership Rewards® points after you spend $5,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*||$700||$295 See Rates & Fees|
|Hilton Honors American Express Aspire Card||Earn 150,000 Hilton Honors Bonus Points after you spend $4,000 in purchases on your Card within the first 3 months of Card Membership.||$750||$450|
Our estimates for the above bonuses are based on the value of the points or cash back offered, minus any annual fees. As you can see, these are a few of the largest welcome offers currently available among personal and business credit cards.
However, be sure to select a card that works best for your financial situation. The coronavirus outbreak has directly affected millions of consumers and thousands of businesses, so you should analyze if a credit card is right for you at this time.