There are two Amex Simply Cash $250 bonuses: one for spending $5,000 in the first six months your account is open and a second for spending another $10,000 in the first year. All told, that’s $500 for spending $15,000, which works out to 3% cash back. There are a few rules to be aware of before you sign up, though.
Here’s how the Amex Simply Cash $250 bonuses work:
To get the first $250 bonus, spend $5,000 on qualifying purchases within six months of getting the card.
For the second $250 bonus, spend another $10,000 before your account’s one year anniversary.
Purchases made by you and any authorized users on your account will count toward the spending requirements.
Purchases that you return won’t count. If you return something after getting the credit, Amex could take it away.
Fees, interest, prepaid cards, person-to-person payments, and cash equivalents don’t count as eligible spending.
You’ll get your Amex Simply Cash $250 bonuses as statement credits, 8-12 weeks after you meet the spending requirements. If there’s a delay, you can call 1-800-528-4800, enter your card number, and ask to speak to a representative.
Your account can’t be canceled or past due when it’s time for your statement credits to post, or you could lose your cash.
The two Amex SimplyCash $250 bonuses are a great benefit, and can get you up to $500. Plus, since the statement credits are automatic, you don’t have to worry about redemption.
You just have to spend 5 grand in the first 6 months. I had to buy quite a lot of equipment, so I was lucky enough to fill the "quota" in the first 3.
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