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If you have a personal or business charge card from American Express, you know that you need to pay your balance in full each month if you want to avoid sky-high interest and fees. That said, Amex does offer an Extended Payment Option that lets you carry a balance (with interest) on eligible charges of $100 or more. And currently, the issuer is targeting select Platinum Card from American Express and Premier Rewards Gold Card from American Express holders for an offer to receive 10,000 Membership Rewards points when they enroll in this extended payment option.
A few members of team TPG received emails with the targeted offer, which expires on May 13. We’ve seen similar offers in the past, so this isn’t a one-off promotion. Note that receiving the offer doesn’t guarantee you 10,000 points — you need to enroll in the Extended Payment Option and get approved to earn the rewards.
Based on TPG’s latest valuations, 10,000 MR points are worth $190. The Membership Rewards program has some great airline and hotel transfer partners, so these points could help you toward booking an award flight or hotel stay with brands such as ANA, British Airways and Hilton.
It’s important to note that you don’t need to actually utilize this flexible payment option to earn the bonus points — you just need to enroll and be approved for it. And you definitely shouldn’t rely on the Extended Payment Option; you’ll be charged a variable interest rate on charges you choose to pay off over time (currently 18.74%), and this will negate any value you get from the 10,000 points you earn. Not to mention that paying your balance in full is one of our ten travel rewards commandments!
If you’re interested (and targeted), make sure to enroll by May 13 to earn the bonus points. You need to be approved by that date to get the 10k bonus.
Source: thepointsguy.com