The Amex PRG 50k offer was a limited-time promotion that isn’t currently available, though it could make a comeback at some point. The current offer is 25k bonus miles for spending $2,000 during the first couple months you have the card. That’s worth around $215 in gift cards or travel booked through Amex. But is it really worth it overall? Probably not, considering the card’s annual fee ($195, waived the first year), credit score requirement (700+) and competition. There are lots of rewards cards with bigger initial bonuses and lower fees. It was debatable when the Amex PRG 50k offer was still around. Now, not so much.
Here are the best alternatives to Amex PRG 50k:
American Express Blue Cash Preferred: $200 statement credit for spending $1,000 in the first 3 months. $95 annual fee.
Chase Sapphire Preferred: 50,000 bonus points for spending $4,000 in the first 3 months, worth $625 in travel. $95 annual fee, waived the first year.
Capital One Venture: 50,000 bonus points for spending $3,000 in the first 3 months, worth $500 in travel. $95 annual fee, waived the first year.
Barclaycard Arrival Plus: 40,000 bonus points for spending $3,000 in the first 90 days, worth $400 in travel. $89 annual fee, waived the first year.
All of those cards offer more sign-up value than American Express Premier Rewards Gold, at least as long as the bonus is 25k not 50k.
The 50,000 points offer is apparently usually a targeted offer that comes every so often. I received one less than a month ago. And yes, I accepted the chance to apply ($2000 is easier to spend than $4000 and that is a lot of points.) and was approved.
Only if you go back in time! The offer was nerfed to 25k.
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