As some of you may have read, I recently received a targeted offer for an AmEx Blue Sky (non-preferred); 30k points ($400 statement credit) after $500 spend within 3 months and 0% APR for 15 months. I pulled the trigger on the offer and was successfully approved for a $10k CL. Thread: http://ficoforums.myfico.com/t5/Credit-Cards/Rec-d-Targeted-AmEx-Blue-Sky-Offer-Update-APPROVED/td-p...
I have now received two addition targeted offers from AmEx:
Do you guys know what those two signup bonuses translate into dollar-wise? Are they good offers, and have there been better ones? My first thought is that the Blue Sky points bonus was 4x as good as the generic offer so was the best relative value. I also wanted to wait until January to open any new AmEx cards to maximize backdating so unless these offers are awesome, I'll probably wait. Thanks.
Thanks, I took a quick look on FlyerTalk and it seems that the PRG card has had 75k signup offers (maybe even 100k) in the past, so I'll sit on that one. My Delta offer appears to be the highest one ever so I'll think about that. I rarely fly Delta though...
The Delta offer is really good for the Delta card -- normally, only the Citi AA cards offer more miles. Most people value Sky Miles at $0.01/mile. Plastic IQ values them at $0.0092-$0.0125/mile for economy awards:
Generally speaking, the way to maximize value of frequently flyer miles is for international premium cabin seats (first class and business class).
The PRG is good, but not great. Plastic IQ values Membership Rewards points at $0.06-$0.0107/mile:
The value is lowest for cash and cash equivalents (statement credits, traveler's cheques, prepaid cards), and highest on gift cards and transfers to frequent flyer programs.
In general I'd value cards with MR points higher than Delta's SkyPesos. Unless you really value the associated card benefits, I'd either take the 50k PRG or wait.
I received a targeted offer for the PRG: 75k points with $1,000 spend in 3 months. I passed on it since no forex fee is a deal-breaker for me. However this just goes to show that there are better offers around. If you're not in a hurry, patience will likely end up netting you a better bonus.
Thanks for the input guys. I'm definitely going to sit on the PRG for now and wait for a better offer. I don't want to push it with all my recent inquiries anyway. The Delta offer is tempting, but I haven't flown with them in years and most of my travel is reimbursed anyway so I have less skin in the game. Too bad I can't give someone else this targeted offer.