topic Re: 5% cashback on Insurance (statement credit) AmEx offer in Credit Cards

5% cashback on Insurance (statement credit) AmEx offer

unsungivy — Tue, 29 Oct 2024 11:27:05 GMT

I know a lot of people don't bother with offers attached to their cards...

This morning I had this offer to add (on my AmEx EveryDay, but that may simply be the order in which I go through them):

Every now and then AmEx offers are "generic" and not for a specific store, but rather a TYPE of spending... I've seen them for Groceries and Gas before, but this one for Insurance is new to me. They stack with your regular earn rate for that category on that card. (In this case, the card I attached this to gets a base 1x points in addition to the 5% cashback, although that can be brought up to 1.2x points with a certain number of purchases that month.)

Re: 5% cashback on Insurance (statement credit) AmEx offer

Gregory1776 — Tue, 29 Oct 2024 15:43:03 GMT

I wish progressive would take AmEx.

Re: 5% cashback on Insurance (statement credit) AmEx offer

SouthJamaica — Tue, 29 Oct 2024 15:48:03 GMT

@unsungivy wrote:
I know a lot of people don't bother with offers attached to their cards...

This morning I had this offer to add (on my AmEx EveryDay, but that may simply be the order in which I go through them):

Every now and then AmEx offers are "generic" and not for a specific store, but rather a TYPE of spending... I've seen them for Groceries and Gas before, but this one for Insurance is new to me. They stack with your regular earn rate for that category on that card. (In this case, the card I attached this to gets a base 1x points in addition to the 5% cashback, although that can be brought up to 1.2x points with a certain number of purchases that month.)

Wow, that is cool. Not often you can get serious cash back on insurance payments.

Re: 5% cashback on Insurance (statement credit) AmEx offer

unsungivy — Tue, 29 Oct 2024 18:02:55 GMT

@SouthJamaica wrote:
@unsungivy wrote:
I know a lot of people don't bother with offers attached to their cards...

This morning I had this offer to add (on my AmEx EveryDay, but that may simply be the order in which I go through them):

Every now and then AmEx offers are "generic" and not for a specific store, but rather a TYPE of spending... I've seen them for Groceries and Gas before, but this one for Insurance is new to me. They stack with your regular earn rate for that category on that card. (In this case, the card I attached this to gets a base 1x points in addition to the 5% cashback, although that can be brought up to 1.2x points with a certain number of purchases that month.)
Wow, that is cool. Not often you can get serious cash back on insurance payments.

Mhmm. It's one of those "hard to do" categories, unless you're really up on buying and applying gift cards.

Re: 5% cashback on Insurance (statement credit) AmEx offer

Anonymous — Wed, 30 Oct 2024 00:17:54 GMT

@SouthJamaica wrote:
Wow, that is cool. Not often you can get serious cash back on insurance payments.

Not sure I would count $20 as "serious" but...!

Re: 5% cashback on Insurance (statement credit) AmEx offer

Roger1071549 — Wed, 30 Oct 2024 02:20:55 GMT

Progressive does, but in a bit of a roundabout way. I just used mine by paying with my AMEX through paypal.

Re: 5% cashback on Insurance (statement credit) AmEx offer

unsungivy — Wed, 30 Oct 2024 14:23:11 GMT

USAA allows CC payments.

Re: 5% cashback on Insurance (statement credit) AmEx offer

JSUB — Wed, 30 Oct 2024 20:35:01 GMT

Very nice. I'm in the garden but having just charged $3,700 to pay my health insurance, monthly auto charges for auto, spouse life insurance, and renewals for renters insurance I'll be dreaming of 5% back.

Re: 5% cashback on Insurance (statement credit) AmEx offer

Kforce — Thu, 31 Oct 2024 01:51:51 GMT

@Anonymous wrote:
@SouthJamaica wrote:
Wow, that is cool. Not often you can get serious cash back on insurance payments.
Not sure I would count $20 as "serious" but...!

If you already have insurance on a 2.5% or 3 %.

That 400 spend cap = $8 to $10 gain.

Not sure it is worth the call's or log-ins a couple of times to switch cards back and forth.

Something must be wrong with me, I would not bother.

Re: 5% cashback on Insurance (statement credit) AmEx offer

ptatohed — Thu, 31 Oct 2024 05:39:45 GMT

All our insurances are set to AOD auto-pay. 3% is good enough for me.

Speaking of which, our (wife and I) cards are expiring in Nov and we don't have new AOD replacement cards yet! I reached out to customer service and the current cards are good through November and we should be receiving new cards by mid November. Too close a call for me, especially when so many auto-pays are linked to this card! Ahhhh!

Re: 5% cashback on Insurance (statement credit) AmEx offer

unsungivy — Thu, 31 Oct 2024 11:47:54 GMT

@Kforce wrote:
@Anonymous wrote:
@SouthJamaica wrote:
Wow, that is cool. Not often you can get serious cash back on insurance payments.
Not sure I would count $20 as "serious" but...!
If you already have insurance on a 2.5% or 3 %.
That 400 spend cap = $8 to $10 gain.
Not sure it is worth the call's or log-ins a couple of times to switch cards back and forth.
Something must be wrong with me, I would not bother.

Well, it's actually 5%+1%/x minimum. Because that 5% is in addition to the base of the card you're putting it on, since it's an offer not a temporary category boost.

Sounds like I'm the only one who does 2x yearly insurance payments instead of of monthly 🤷‍♀️ Unfortunately, our next one doesn't happen until Feb, but since I know I can pay it in chunks (used gift cards last time), I'm trying to figure out if I can pay towards it before it posts. The interface is weird.

Re: 5% cashback on Insurance (statement credit) AmEx offer

Anonymous — Thu, 31 Oct 2024 15:09:37 GMT

$20 back max? Not even worth checking out. What insurance -- car, home, renters -- costs $100 per year? Plus it expires in two months, so unless your premium for the year hasn't been paid off yet, it's worthless.

Re: 5% cashback on Insurance (statement credit) AmEx offer

Kforce — Thu, 31 Oct 2024 16:55:40 GMT

@unsungivy wrote:
@Kforce wrote:
@Anonymous wrote:
@SouthJamaica wrote:
Wow, that is cool. Not often you can get serious cash back on insurance payments.
Not sure I would count $20 as "serious" but...!
If you already have insurance on a 2.5% or 3 %.
That 400 spend cap = $8 to $10 gain.
Not sure it is worth the call's or log-ins a couple of times to switch cards back and forth.
Something must be wrong with me, I would not bother.
Well, it's actually 5%+1%/x minimum. Because that 5% is in addition to the base of the card you're putting it on, since it's an offer not a temporary category boost.

Sounds like I'm the only one who does 2x yearly insurance payments instead of of monthly 🤷‍♀️ Unfortunately, our next one doesn't happen until Feb, but since I know I can pay it in chunks (used gift cards last time), I'm trying to figure out if I can pay towards it before it posts. The interface is weird.

If the $20 rewards is by 5% the Cap is $400 spend

400 * 3% gain = $12

This is not a high gain offer.

The other issue is the odds of you bill = cap is almost zero.

This offer requires splitting up payments between 2 cards or

having a payment < cap receiving even less gain.

If it was $20 a month for 6 months or $150 rewards total, a different story.

But $12

Re: 5% cashback on Insurance (statement credit) AmEx offer

Andypanda — Fri, 01 Nov 2024 01:43:56 GMT

Just checked all amex cards, and don't have the offer. I get an eff4.5% on homeowners insurance and auto insurance with my USBAR, but being self employed, I responsible for my own health insurance, and can not pay with Apple Pay, so 8 only get 2% back.

Re: 5% cashback on Insurance (statement credit) AmEx offer

zerofire — Fri, 01 Nov 2024 03:54:33 GMT

My family would hate this offer. We pay our insurance only once per year. Our insurer is raking in the cash for how little they have to do.

Re: 5% cashback on Insurance (statement credit) AmEx offer

GhostPrototype — Sat, 09 Nov 2024 03:57:07 GMT

My Amex BCE got two of an improved version of this offer, 10% cashback up to $20. Both offers triggered on payments to Medicare.gov and State Farm.

Orginally I thought I was just getting this BCE for the SUB and the 3% online shopping category, but the Amex offers have been very lucrative so far.

Re: 5% cashback on Insurance (statement credit) AmEx offer

unsungivy — Sat, 09 Nov 2024 17:41:58 GMT

@GhostPrototype wrote:
My Amex BCE got two of an improved version of this offer, 10% cashback up to $20. Both offers triggered on payments to Medicare.gov and State Farm.

Orginally I thought I was just getting this BCE for the SUB and the 3% online shopping category, but the Amex offers have been very lucrative so far.

AmEx offers can be amazing if they align (or almost align) with your organic spend. I've definitely diverted a few charges from other cards to AmEx to take advantage of them. It even better when you can do just enough to hit the offer (like when I had a cruise coming up, and an offer for that cruise line popped up... I was able to pre-pay exactly the amount to hit the offer, and then do the same on P2's card... and pay the rest on a BofA CCR set to Travel temporarily).

For this offer, I don't think I can make an insurance payment before it expires, but if I can I will pay the amount to hit the offer, then pay the rest via my originally planned method.

Re: 5% cashback on Insurance (statement credit) AmEx offer

Rdbeetle — Sun, 10 Nov 2024 00:45:05 GMT

This offer is available on my BCP. I will earn $15 based on my premium costs.

Re: 5% cashback on Insurance (statement credit) AmEx offer

DrewfromTexas — Mon, 11 Nov 2024 20:39:12 GMT

I had 5% on my saphire and 10% on my freedom unilited. I just set my AAA auto insurnace to charge to my freedom, i'll make out the $20 on the first charge in a couple days.

Re: 5% cashback on Insurance (statement credit) AmEx offer

UncleB — Wed, 13 Nov 2024 03:08:02 GMT

I had the same offer on my BCE, but 10%, that I just finished up.

Since I usually just use a Double Cash for my renter's policy it was easy enough to switch over to get this knocked out. I could have used it for my State Farm car insurance as well, but since I'm getting 4.5% via the USBAR I left that alone and concentrated on the renter's even though it took longer to max.

Now if I can just remember to use my BCE at Publix to trigger the 10% off groceries...