Tag Archives: American Express

How Much Money Did I Make from Bank Account Bonuses in 2021?

Good afternoon everyone, I hope you had a great weekend.  Doctor of Credit has a Best Bank Account Bonuses page that he keeps up to date with the best offers each month.  In that master post, he links to individual bank account bonuses with helpful information regarding the bonus details, how to avoid monthly fees, when to close the account, how often you can open a new account, and much more.  For the last 7 years, I have been opening new checking accounts, savings accounts, brokerage accounts, and cash management accounts for the new member bonuses.  Tt the end of each year, I share my results on the blog.  Over the last 7 years, I have made $15,850 in bank account bonuses.  You will receive 1099-INT tax forms every year, so you have to pay taxes on the bank account bonuses, but sometimes you can fund the opening deposit with a credit card and earn miles, points, or cash back.  If you are lucky, you can meet a minimum spending requirement by funding a new checking account or reach a high spending target to earn more rewards.  Here are my results from the last 7 years with links to corresponding blog post summaries:

Drum roll please… Here are the 13 new accounts I opened in 2021:

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AMEX Chat Reps Cannot 100% Confirm Eligibility for New Credit Card Sign Up Bonus

Good afternoon everyone, I hope you had a great weekend.  A few weeks ago, I was planning on applying for the American Express Marriott Bonvoy Business Credit Card.  As of October 18, the current sign up bonus is 125,000 Marriott Bonvoy Points plus 2 Free Night Certificates (up to 50K Points / Night) after spending $5,000 in 3 months.  I have never had this specific credit card before, so now seemed like a great time to pick up this credit card with an increased sign up bonus.  Before I applied, I reached out to American Express via their online AMEX Chat feature to see if I was eligible.  I will explain more below, but long story short, the AMEX Chat rep said I was eligible, but the AMEX popup said I was not eligible.

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American Express Changes: No Cash Advance Fee for Precious Metal Coins, Bullion, and Digital Precious Metals Products

Good evening everyone, I hope your weekend is going well.  I was just reviewing my recent American Express statements and saw a few changes regarding cash advance fees, earning bonus points on meal-kit delivery services, losing points when you close an account, late payment fees and the Centurion Lounge Guest Access Policy.  The most interesting change is regarding cash advance fees.  Effective October 1, 2021 (aka now), “precious metal coins or bullion and digital precious metals products” are no longer considered as a cash advance, so those purchases should earn points, miles, and cash back.  This is great news if you buy coins from the US Mint (to keep or resell).  As you might remember, American Express added precious metal coins or bullion and digital precious metals products to their definition of cash advance effective January 15, 2021.  It is good to see American Express changing their mind regarding precious metal coins and bullion.

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$179 CLEAR Credit Posts Quickly on American Express Business Platinum Card

Good morning everyone.  A few months ago, I wrote American Express Business Platinum Card Changes: $179 CLEAR Credit & Centurion Lounge Guest Access Policy when AMEX introduced the $179 CLEAR Credit on their personal and business Platinum Cards.  Last month, I wrote My CLEAR Experience: Reactivating Membership, Adding Family Member, & Airport Biometric Process where I explained the issues regarding reactivating my old/dormant CLEAR membership and my wife’s experience with the airport biometric process (it was pretty easy at the Seattle airport).  CLEAR gave me a 2 month trial period in order to get our CLEAR accounts set up and my charge finally went through last week.  I wanted to document the process and show how quickly the CLEAR credit posted on my American Express Business Platinum Card.  The $179 CLEAR Credit shows up in the benefits section of your personal or business Platinum Card and does not require activation.  The benefit says that the statement credit will appear 2-4 weeks after your CLEAR membership is charged to your card.

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My CLEAR Experience: Reactivating Membership, Adding Family Member, & Airport Biometric Process

Good afternoon everyone, I hope your week is going well.  A month ago, American Express added a $179 CLEAR credit to AMEX Platinum Cards.  I had an old / dormant CLEAR account that I signed up for and used a few years ago, so I figured I would reactive my CLEAR membership.  Frequent Miler has a great resource on 5 ways to get CLEAR for less and one of the ways is to be an AMEX Delta credit card holder and add a family member for less than the cost of a single membership.  In this post, I will cover my experience reactivating my CLEAR membership, adding Laura as a family member to my CLEAR account, and her experience with the airport biometric process (getting her fingerprints and eyes scanned).

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