M² Episode 143: Amex Reinstatments, Q4 Action Time, News, Follow-Up & More

News

0:22 Reports of Amex Reinstatement

• Great to hear reports of Amex reportedly changing their mind on “Adam” shutdowns
• Creates all kinds of crazy situations to consider
• Are people now in the penalty box for closing cards within a year of accepting welcome bonuses/retention offers?
• Will annual fees be refunded?
• Is the slate wiped clean in any way? For welcome bonuses or incidentals?
• Which cards can be reopened? Which cards should be reopened if you have a choice?
• Are they really charging $25 (per card?) to reinstate?
• Have to see this buoyed my confidence in interacting with Amex as we’ll discuss on today’s show

5:55 Fluz branching out: GC Reselling deals in App

• Some good deals in app (Sephora BBB) lately.
• Great way to gain power portal access (as VGC/MCGC seem to be drying up)
• Fluz paying back fluz cash, which is usually less than ideal
• Excep: Daniel shared on Slack that you can cash out fluz cash
• Click on your fluz balance in the app, then you’ll see a large green “TRANSFER” button, and can transfer to Paypal.

10:49 Another Amex Personal Platinum AU Offer

• Link to check
• 20,000 for adding an AU who spends $2,000
• Seems like this is “20,000 per unique offer” and this is a different link than what had in Ep 128
• If you have multiple Personal Platinum cards I don’t see a way to determine which of these is being upgraded. Split off cards, temporarily if necessary, into their own online profiles to disambiguate.

Follow Up

14:35 CapitalOne Venture X Applications

• Robert: Approved
• Robert’s Wife: Denied
• Sam: Denied. Louses
• Once approved you can instantly generate a referral link here
• Referrals are 25k per, capped at 100,000 per calendar year
• “The friend you refer must be a new Capital One credit card customer.” (does that mean people who have had a Capital One credit card in the past but closed it are ineligible? unclear)
• Referrals take “up to 8 weeks” after approval so it’s going to be hard to know which referrals qualified for a while if they keep to that schedule
• Also hard to keep track of how many referrals were approved and qualified depending on what they consider new customers
• We’re not dealing with Amex here...

21:45 Amex Morgan Stanley Platinum Bonus Posted

• Didn’t get a pop-up when applying
• 2nd time I’ve gotten the welcome bonus
• Approved 4 days after closing old one
• 100,000 + earning 10x Shop Small/Restaurants for 6 months
• Worth noting I’ve been in the “history” penalty box before and after this approval and bonus: This card seems to have its own ideas about disqualifying dispositions.

26:30 Ongoing Dell Misery

• This really has become a story in three acts (just 3? You wish!)
• Act 1: All orders to BG cancelled. (ep 140)
• Act 2: Ship to home! Working! Pirate Ship for $10  (ep 141)
• Act 3: BFMR says the boxes are empty.

What We’ve Been Up To

39:39 Approved: BofA Alaska Business Visa 60,000

• Direct link
• 60,000 for $3,000 spend in 3 months
• $75 AF, not waived first year
• Still churnable, even if you have an active one
• Wording says you “may be declined for additional credit card accounts if my business entity currently has, or has had, another business card with Bank of America in the preceding 24 month period” but that doesn’t seem enforced thankfully
• Instant approval, worth mentioning CF Frost’s tip of reducing CL before closing BofA cards because otherwise they “remember” that CL for a long time after which makes it difficult to be approved for new cards
• Was denied for BofA Business Cash in February 2021 and approved for BofA Amtrak in August 2021

42:51 Tip: Extending Expiring Alaska Wallet Funds.

• Alaska doesn’t say this works, so it could stop at any time
• Find a flight just above the cost of your wallet--book with wallet funds. Pay the difference. (one way ok).
• As soon as it tickets turn around and cancel the flight.  In about a week you’ll get a refund to a new wallet, 12 months out from the current one.

44:35 Tip: Referral Penalty Box Temporary Dispensation for New Cards

By Way Of: Blue Business Plus Referral for +4x

• I think we’ve talked about this before, but…
• It doesn’t last forever
• It’s especially relevant to revisit with +4x going on ‘til 12/1/2021
• Closed Blue Business Cash to open up a credit card slot
• Had my wife refer me for this, got the “history” popup
• Initially withdrew application but then thought better of it and applied again, plowing forward
• Missed out on 15,000 but got 25k of +4x capacity on a Business Green I added three AUs on for 20,000 per
• AU spend should stack with +4x
• Amazing how much you can do with Amex even when you’re in the “history” and referral penalty box
• Have to say: Reports of shutdowns subsiding combined with reinstatement have emboldened me to pursue some of these deferred actions here towards the end of the year