I’m Really Lovin’ American Express

Over this past year, I’ve actually made money just by having an American Express credit card – well four of them! American Express has run some amazing promotions where in total I’ve received $822.50 back in statement credits and gift cards. This has paid for the yearly fee of all four cards, while also putting additional cash in my pocket! Just another great perk of these credit cards!

Clearly American Express does not just give away money, so these promotions did take some time and effort, but it was totally worth it. Let’s take a look at this past year and see how this was done.

The four promotions that I have taken part in include:

• Link, Like, Love Promotion: $40 statement credit for a Starwood stay (there are many other participating merchants as well)
• Small Business Saturday: $25 statement credit for spending $25 at a participating merchant
• Gift Chain Promotion: Varying gifts including gift cards, statement credits, Membership Reward points just for purchasing $25+ items at an online participating merchant (which could include the a merchant gift card)
• Mix-n-Match Promotion: $50 statement credit for spending $200+ at two or more participating NYC merchants

Here are the 4 cards the have made me very happy so far and the extra money earned:

• Card 1: Starwood American Express (Mrs. Deals)
  • Link, Like, Love Promotion: $40 statement credit (would have had this purchase anyways)
  • Small Business Saturday: $25 statement credit (would have had this purchase anyways)
  • Gift Chain Promotion: $29.50 statement credit, $180 worth of American Express gift cards, $8 in Dunkin Donuts gift cards, and $20 in Starbucks gift cards = $296.50 (all for purchasing $225 worth of Pottery Barn gift cards which will be used anyways)
  • Mix-n-Match Promotion: $50 statement credit (would have had this purchase anyways)
  • TOTAL MADE: $411.50
• Card 2: Starwood American Express (Mr. Deals)
  • Link, Like, Love Promotion: $40 statement credit (would have had this purchase anyways)
  • Small Business Saturday: $25 statement credit (would have had this purchase anyways)
  • Gift Chain Promotion: $60 statement credit, $16 in Dunkin Donuts gift cards, and $20 in Starbucks gift cards = $96.00 (all for purchasing $250 worth of Pottery Barn gift cards which will be used anyways)
  • Mix-n-Match Promotion: $50 statement credit (would have had this purchase anyways)
  • TOTAL MADE: $211.00
• Card 3: The NEW Business Gold Rewards Card(R) from American Express OPEN
  • Link, Like, Love Promotion: none (did not have the card at this time)
  • Small Business Saturday: $25 statement credit (would have had this purchase anyways)
  • Gift Chain Promotion: $25 statement credit, $8 in Dunkin Donuts gift cards, and $40 worth of American Express gift cards = $73.00 (all for purchasing $200 worth of REI gift cards which will be used anyways)
  • Mix-n-Match Promotion: $50 statement credit (would have had this purchase anyways)
  • TOTAL MADE: $125
• Card 4: American Express Hilton HHonors
  • Link, Like, Love Promotion: none (did not have a need)
  • Small Business Saturday: $25 statement credit (would have had this purchase anyways)
  • Gift Chain Promotion: none (did not have a need for additional gift cards)
  • Mix-n-Match Promotion: $50 statement credit (would have had this purchase anyways)
  • TOTAL MADE: $75

UPDATE: I recently realized that my Macy’s and Bloomingdale cards are also Amex so was able to get an additional $100 statement credit with the Mix-n-Match promotion!

Since all these cards were opened this year, we spent nothing on the annual fees, but ultimately will be spending $305/year in annual fees for these four cards (assuming we keep them all). However, in just about 8 months, I’ve made a total of $822.50 with these four credit cards ($922.50 once you add in the Macys and Bloomies)! Pretty good ROI in my opinion! Now, on top of this money made (and yes, I do consider it money made as I received it back in statement credits, Amex gift cards, and Starbucks/Dunkin Donuts gift cards which I go to anyways), I also earned a ton of points as

bonuses. And on top of that, I earned a slew of points just for making these purchases.

While I originally was planning on closing the American Express Gold Business card when the year is up (due to the pretty high fee), I actually might consider keeping it I can make the yearly fee back in these various promotions. I like this card as it gives 3x points on all airfare, so do not want to get rid of it too quickly.

Overall, these promotions that American Express has had (and I believe they will continue to have) are definitely something to take into consideration when applying for a new credit card and weighing out the pros/cons. Most people just look at the welcome offer, the program itself, and some other perks (waived baggage fees, car insurance, etc.), but these additional statement credit promotions should not be overlooked. As you can tell, I am a HUGE fan!

I’ve highlighted the benefits and bonuses of these cards on this page here.