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Hey credit Warriors welcome to the show And we have an interesting video for you Today because it seems that American Express is offering some Card members Downgrade bonuses to actually downgrade Their cards and you get a bonus Yes you Heard that correctly normally it's a Welcome bonus or an upgrade bonus but This is the opposite and we're going to Tell you all about how it works in just A moment then we also have some really Cool cash welcome bonuses on four credit Cards that we didn't talk about in our Best bonuses video this month and if You're interested in that it looks like This we'll put it on the end card of This video so you can check it out but We're going to go through these cash Welcome bonuses that we missed later on In the show as well so what exactly are These downgrade bonuses well check out This recent post on Reddit anex plat to Gold downgrade offer 25,000 points for $1,000 in spend in 3 months this was During cancellation at third annual fee After retention offer at second annual Fee so to break that down for those who Aren't so familiar with all the credit Card Forum lingo basically this person Phoned up to cancel his AMX platinum Card maybe hoping for a retention offer He had had a retention offer on his Second year and this was his third year His third annual fee with the card so
It's unlikely to get a retention offer Two years in a row anyway but during the Cancellation process the rep offered him To downgrade to the AMX gold card for a Bonus of $25,000 AMX points for spending $1,000 on the gold card in 3 months now This guy actually deined find the offer But he himself says that may not have Been wise because of the new family Language in the terms and conditions on The AMX Gold Card basically you may not Be able to get a gold card bonus if You've had the MX Platinum before which This guy had so that actually makes Sense that if no one who had the Platinum can get a bonus on the gold Anymore which would be like 60,000 Points okay so a better deal for the Customer to refuse the you know Downgrade offer if there's a chance you Can get the bonus of 60,000 points or or More depending on the link or whether It's a referral or whatever but actually It could be a bit more you know AMX Could be a bit more generous right by Offering a downgrade offer of 25,000 Points cuz then they they get to not Give 60,000 but they can give 20,000 25,000 on a downgrade offer instead it's Less points for them now if you want to Try and get this offer I mean you can Phone up and cancel your platinum okay But you do actually have to be mentally Ready to really cancel your platinum so
I wouldn't say just Bluff and do this if You don't really want to cancel the guy On Reddit said um that he also had the Business Platinum so he was doubled up On some benefits anyway if you just had The personal Platinum Card it might Still be useful to you so you might not Want to do this but anyway you phone up And you say you want to cancel and if They offer you a downgrade to the Gold Without the bonus decline that initially That's what this guy did and then they May And I stress may they may follow up With a downgrade bonus offer just Remember nothing is guaranteed but That's how you do it in theory and you Might get off of this softw all right Let's move on but first if you have MX Cards you will find the sponsor of Today's video max rewards especially Useful because it has a function to Automatically activate all of your MX Offers for you so you never miss a deal Now Max rewards is a great way to keep Track of data on all your credit cards From different banks in one place the Free version of the app gives you Transactions balances points and rewards Balances allinone dashboard and has Useful things like welcome bonus Spending track but if you get Max Rewards gold the pro version of the app You get the function where Max rewards Will activate all of your AMX offers for
You and you may even use an AMX offer Without realizing it and come home to an Email saying that you save money that's Happened to me several times and when You activate all your MX offers new Offers appear in your account that you Never even knew existed and Max rewards Will activate them too guys you can get A free month of Max rewards gold with my Link below or just download the app and Check out the the free features all Right let's now start looking at some Awesome cash bonuses for those of you Who are just looking for some cash back All right and the first one of these is The Amazon Prime signature card this Card under normal circumstances is an Absolute no-brainer for anyone who has Amazon Prime since it offers 5% back on All Amazon and Whole Foods purchases and If you have Prime there's no annual fee Because the Prime membership is the Annual fee oh and they also now added 5% Back on Chase travel and there are some Other bonus categories like gas at 2% That's nothing really to write home About now personally I don't use those Other bonus categories I just use this Card for Amazon and when I got the card I just entered the it as a payment Method in my Amazon account and then I Actually lost the physical card like Literally I don't know where it is now It's it's somewhere but the details are
In my Amazon account I charge all my Amazon spending to this card anyway if You have prime it is a complete No-brainer if you don't have Prime then You'll have to weigh up how much you use Amazon since the Prime membership is Like the annual fee on the card you have To get Prime to have this card but if You do think it makes sense to you to Get this they just increase the welcome Bonus on this card to a $200 Amazon gift Card instantly on approval you heard That right there is no spend requirement For this you just sign up get approved And boom you have $200 in your account To spend on Amazon for Black Friday Deals so do this quick if you want this One because the offer ends well two Reasons one if you want to catch the Black Friday deals but also the offer Ends on December 4th all right let's now Look at two more cashback bonuses one is For $400 and that would be on the two Disney Credit cards issued by Chase now I know These cards are not going to be for Everyone since not everyone spends a ton Of money with Disney to earn rewards on It right but the bonuses are in the form Of a statement credit not Disney Rewards Dollars so you could spend these bonuses Anywhere let's look at the no annual fee Card first so this one now has a limited Time offer of a $250 statement credit
For spending $500 in your first 3 months And this card has no annual fees so it Really isn't costing you anything to Keep that 250 is basically just free Money next we have the Disney Premiere Visa card and this one also has a Limited time offer this time it is for $400 in the form of a statement credit When you spend $1,000 or more in your First 3 months of card membership now This one does have an annual fee of $49 Per year it's not way for the first year So if you minus the annual fee you still Get a value of $351 for the welcome bonus so this is a Card that you could just get for the Bonus and then you know I'm not saying Churn but uh when you come to the second Year you can decide whether you want to Keep it or not obviously the decision Will be made depending on how much value The card gives to you and uh and all That stuff now both these offers end on November 30th so if you want either of Them do be quick you can access them via Chase's website there's no special link Or anything like that all right now for Our final card that I want to talk about And that is the instacart credit card Also from Chase this is another one like The Amazon Prime card that has no Spending requirement it's just boom a $250 instacart credit upon approval so I'm just throwing this out there for you
Guys obviously the benefits of this card All revolve around instacart so if You're someone who uses it or has been Thinking about starting to use instacart Then this may be a great time to get the Card for you otherwise it's kind of me You know the card does have no annual Fee and this is another one that they Just added the 5% on Chase travel to you So you know kind of like the Amazon card In that way but it's really a your Mileage may vary I'm just the messenger You can decide whether it makes sense For you all right guys that is the video For you today don't forget to tell me What you think about all these in the Comments below did anyone else get that Downgrade offer I'd be very interested To hear your stories also don't forget To get a free month of Max rewards gold With my link below as well please Subscribe to the channel if you're new And we'll see you next time bye-bye
