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This article was last updated Apr 02, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
In the wake of the coronavirus outbreak and how it has upended daily life, credit card issuers are stepping up to offer relief in the form of delaying payments, deferring interest and more.
American Express has taken an unprecedented step in adjusting its deadlines for earning welcome bonus offers for new cardholders.
As a result of reduced spending with more people being quarantined, having the ability to meet a certain spending threshold in a limited period of time to earn a new card’s welcome bonus may become more difficult.
Here is the statement from American Express:
Due to the impact of COVID-19, for eligible card accounts approved from Jan. 1, 2020 through April 30, 2020 for which you are eligible for a welcome offer, the period to make eligible purchases to earn your welcome bonus will be extended for an additional 3 months. Eligible cards are U.S. consumer and business cards issued by American Express National Bank to a basic card member.
American Express states that it will continue to monitor the situation and look for ways to serve its customers during this time.
Are you eligible for the welcome offer extension?
If you applied and were approved for a new American Express card that offered a welcome bonus between Jan. 1, 2020, and April 30, 2020, then you have an extra three months in which to earn that bonus.
For example, if you signed up for the Blue Cash Preferred® Card from American Express, where you can earn $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months., you now have six months in which to earn the offer from the date when you were approved for the card.
Again, this extension applies to both consumer and business cards.
This is the latest effort put forth by American Express to assist customers during the COVID-19 outbreak.
Previously, the issuer announced that cardholders can reach out to American Express by calling the telephone number on the back of their cards to discuss payment options, such as lowering monthly payments, relief from late payment fees or a temporary lower APR.
To find out what other card issuers are doing to offer relief to hard-hit customers, check out our “Coronavirus and Your Money” financial guide.