Here’s how the Amex Gold card airline credit worked:
When this benefit was still available, you had to choose a qualifying airline in order for the Amex Gold card airline credit to apply. To view the list of qualifying airlines, you had to log in to the airline fee credit enrollment page from your online account and made your selection from the dropdown menu. You could choose an airline any time during the first year your account was open. After that, you could only select or change airlines each January. If you didn’t change airlines by January 31st, Amex automatically applied the airline fee credit to the previously chosen airline.
The first $100 in eligible charges each year were automatically credited to your account within 2-4 weeks of qualifying purchases being made. Authorized users were eligible for the airline credit, but the entire account was limited to a single $100 credit every year. Credits used to appear on the primary cardholder’s monthly statement as “AMEX Airline Fee Reimbursement.” The Amex Gold card airline credit used to reset every calendar year, but unused credits did not roll over from year to year.
No, you don’t have to pay off all American Express card every month. Most Amex credit cards allow you to carry a balance from month to month, requiring only a monthly minimum payment to keep your account in good standing. Some even offer 0% introductory APRs. That’s the case with some of the best American Express credit cards like:… read full answer
But there are exceptions. If you have one of those cards and use it responsibly, American Express may offer to let you pay for certain purchases over time. Interest will apply to such purchases, though, at a rate that won’t be disclosed until Amex extends an offer.
You can check out WalletHub’s review of the best American Express credit cards to find a good option for carrying a balance. Just don’t expect to find a low regular APR. American Express credit cards are known more for rewards than low rates. All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.
The American Express® Gold Card credit score requirement is 700 or higher. That means people with good credit or better have a shot at getting approved for the Amex Gold card.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Amex Gold card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status and housing status.… read full answer
If you excel in other areas, you might be able to get approved with a slightly lower credit score in some cases. But it’s best to wait to apply until you meet the Amex Gold card credit score requirement. You can check your credit score for free on WalletHub.
No, Amex points do not expire. Cash back and miles earned using American Express credit cards do not expire, either. However, points and other rewards can be forfeited when you close your account or when your account is closed due to inactivity. American Express will also cancel all points, miles or cash back earned during any billing period where a late payment occurs.… read full answer
Read on to learn more about when you could lose your Amex points so you can make sure it doesn’t happen.
Here’s when Amex points expire:
Account Inactivity: Your American Express account can be closed due to inactivity – not making a purchase or bill payment for an extended period of time. When that happens, you have 90 days to redeem points before losing them. Amex doesn’t disclose a timeframe for closing accounts due to inactivity, so try to use your card regularly to keep your account active.
Closing Your Account: Unredeemed American Express rewards will expire when you close your account. Try to redeem a couple weeks in advance so there’s plenty of time for the transaction to be processed. You can even use the rewards to pay for some of your final balance.
Late Payments: Rewards earned during a billing period where a late payment occurs will be forfeited. You can reinstate lost points, though. Visit your account’s Points Summary page to reinstate them after bringing your account current. There’s a $35 fee for each billing period points are reinstated from.
Returned Purchases: Points earned from purchases that are later returned get deducted from your rewards total. When you return an item purchased with points, you may receive a statement credit or a points refund. Statement credits can be converted back into points by calling Membership Rewards at (800) 297-3276.
American Express points, cash back and miles do not expire. Just be sure to use all your rewards prior to closing an American Express credit card account. Use your card regularly to keep your account active, and remember to make payments on time to keep points earned each billing period.
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