5% cashback on Insurance (statement credit) AmEx offer

[unsungivy]

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@Kforce wrote:

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@longtimelurker wrote:

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@SouthJamaica wrote:

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

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

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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.

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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.

[alocksley]

$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.

[Kforce]

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@unsungivy wrote:

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@Kforce wrote:

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@longtimelurker wrote:

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@SouthJamaica wrote:

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

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

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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.

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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.

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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 

[Andypanda]

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.

[zerofire]

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.

[GhostPrototype]

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.

[unsungivy]

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@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.

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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.

[Rdbeetle]

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

[DrewfromTexas]

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. 

[UncleB]

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...