Quite often, I’ll receive an email offering bonus points for spending in certain categories. For example, an offer might award 5X points for purchases at department stores or home improvement locations.
I’ll give these offers a quick look but I typically take a pass because of several reasons:
- I’m working on meeting a spending requirement for a new card
- I’m trying to meet a yearly threshold (for an extra free hotel night)
- I already earn more points for the same expenses with a different card
- I have enough points in the program and I’d rather earn flexible points or cash back
When I see offers from IHG and Marriott co-brand cards from Chase, I don’t take advantage because I value those points at less than 1 cent each. However, I’ll take a closer look if the offer is from Southwest because when they have spending bonus offers, they’re oftentimes lucrative.
Southwest is offering 10 points per dollar at gas stations and 5 points per dollar at Amazon.com and grocery stores.
The offer is good for the first $1,500 in combined purchases between 10/1-12/31, so I already missed out on 1 month. I’ll still be able to take advantage because this is my big Amazon spending time before the holidays.
Here’s why I’m going to register and use my Southwest Priority Card for fuel, grocery stores and Amazon.com purchases until the end of the year (or until I spend $1,500.)
I’ve almost reached the $15K spending requirement to get an extra free night with the World of Hyatt card and I have no new cards that I’m working on a sign-up bonus so I’m free to chase spending bonuses.
I don’t have any cards which beat the 10X or 5X points in each category. The Discover card is offering 5% back on Amazon purchases this quarter. However, I value Southwest points at 1.3 cents each. I’d earn more than 5% by getting 5 points per dollar.
While I have a good deal of Southwest points, they’re easy to use on any available Southwest flight, so I’m not worried about earning more. The only risk is devaluation. Southwest reduces the value of points every few years but the changes are typically modest and I hope it stays that way.
You have to register with Chase to earn the bonus points. I received a targeted link in my email but if you want to see if any of your Chase cards are eligible for bonus spending offers, you can use this link.
The rule seems to be that the more valuable the points, the less frequently you’ll see bonus offers. Whenever you see a good one, be sure to take advantage. Small wins are still wins.
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