American Express has announced a unique promotion for new customers applying for their Blue Cash Everyday Card. This offer could potentially be worth $350–not bad for a no annual fee card–but there are some caveats.
The regular signup bonus for this card is $100 cashback in the form of a statement credit after spending $1000 in the first 3 months after approval. If you are a targeted customer (or if you use your browser’s “incognito” window), this offer may be as high as $150.
In addition to the regular cashback incentive, the promotional bonus offers 10% credit on purchases at U.S. Wireless Telephone Service Providers up to $200 through the end of 2016.
New Card Members who apply by June 15, 2016 can earn up to $200 cash back in the form of statement credits with the new offer that rewards them with 10% cash back on the first $2,000 spent at U.S. Wireless Telephone Service Providers through December 31, 2016. For more information or to apply for the Blue Cash Everyday Card, consumers can visit www.americanexpress.com/wirelessoffer.
- 3% Cash Back at U.S. supermarkets, up to $6,000 per year in purchases (then 1%)
- 2% Cash back at U.S. gas stations
- 2% Cash Back at select U.S. department stores
- 1% Cash Back on all other purchases
- No Annual Fee
This deal is not for everyone. You would need to spend $2,000 on you wireless bill between now and the end of the year to maximize the value of the offer. Not everyone spends (or can pre-pay) that much on mobile phones. And if you do spend that much, there’s no incentive to use this card beyond the $2,000 limit.
In addition, there is the opportunity cost of shifting your cell phone spend to Blue Cash Everyday. I pay my wireless bills with the Chase Ink Plus which earns 5 Chase Ultimate Rewards Points per dollar. Since I value UR points at about $.02 each, I am already getting an effective 10% return every month.
As with all credit card benefits and offers, do the math and decide for yourself if the deal is worth it for you.