Danny the Deal Guru: "The Schwab Amex Platinum card has a unique feature. It lets you redeem Membership Rewards points for deposits to an eligible Schwab account at a value of 1.1 cents per point."
"Now Amex is notifying members of an upcoming change that is bad news for those who use this cash out method heavily. Starting in October, redeeming at 1.1 cents per point will be limited to just 1 million points per year. After that you will only get a value of 0.8 cents per points."
Amex has listed the notice under the card's benefits. It reads:
“Important Note: Starting Oct 1, 2024, the rate for redeeming Membership Rewards points for deposits will change. Basic Card Members will be able to redeem Membership Rewards points for deposits to their eligible Schwab account at a rate of 10,000 points for a $110 deposit for up to 1,000,000 points, after which they may continue to redeem points at a rate of 10,000 points for an $80 deposit through the remainder of the calendar year.”
American Express has released a targeted offer for stays at select "luxury" Wyndham properties. You can get $100 back as a statement credit when you spend $500+.
Important Terms
View From The Wing flagged that there's a new Turkish Airlines Miles&Smiles credit card in the U.S. The card is backed by Imprint and issued by First Electronic Bank.
Let's take a look at the details.
Welcome Bonus
Bonus Categories
Benefits
Strangely, I don't see any benefits offered when flying with Turkish Airlines.
Annual Fee
American Express is opening a Centurion Lounge in Terminal 3 of Tokyo Haneda Airport (HND) in 2025. At only 7,352 square feet, the lounge won't have that much space - only 122 seats. Considering that theTerminal 3 is the main international terminal, I'll be curious to see if it gets too crowded to be comfortable.
Travel on Points: "There is a Sapphire Preferred bonus issue that recent applicants are running into. From what we can tell, this appears to be a glitch in the matrix, on Chase's end. It also appears to be happening to people who signed up for the card over the last month, likely when the increased offer was still around and kicking. If you are being told that you are not eligible for the Chase Sapphire Preferred welcome offer, or you don't see a bonus offer tracker, then know you are not alone."
Amex has released another round of targeted Amex Offers. One that might interest you is a Delta gift card offer. You can earn 5,000 bonus Membership Rewards points if you buy $500+ in Delta gift cards. Please note that these purchases will not code as airfare so you can't earn 5x with the Amex Platinum.
Important Terms
A change in Chase's approval policy was flagged on Reddit the other day.
Previously, if you were over 5/24, you would simply be denied. Now, Chase appears to be moving toward an Amex-like pop-up warning. The pop-up will let you know that you're not eligible for the sign-up bonus but can still apply. At this point, you'll have the option to proceed with the application.
It seems that this change has only been rolled out for Sapphire cards and the Freedom Unlimited for now.
Disclosure: I'm on an advisory board for Bilt and earn a commission when people use my link to apply.
View From The Wing: "The Wall Street Journal says that Wells Fargo had to overspend to break into co-brand credit cards, and that as a result they’ve slowed down in the space."
"It’s such a strange piece – it seems framed to make Wells Fargo look bad but just describes how they’ve limited their losses while trying new things, and learned from their experiments. But we do get a lot of fascinating insider details along the way."
If you're thinking about apply for the Bilt Card, you can learn more here.
Citi is offering a 15% transfer bonus to Cathay Pacific if you transfer ThankYou Points by 11:59pm ET on July 20, 2024. Since Cathay has only been releasing premium cabin award space to its own members, this could be a particularly useful transfer bonus. Cathay Pacific also has solid business class award rates on its oneworld partner airlines if you want to visit Europe.
Loyalty Lobby: "Etihad Airways is offering a worldwide promotion for American Express cardholders, with discounts of up to 10% on flights across their entire network in First, Business, and Economy Class."
The discount is 5% on flights to/from the UAE and 10% to/from other destinations to which Etihad flies.
You must book and travel by December 31, 2024.
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