September 2020

UPDATED: An earlier version of this article (as in, literally this morning) stated the Bonvoy benefits expire September 15. I received an email this evening extending them through September 30.

Welcome to the close of Month #7 of the world as we know it now, A.C. (After Coronavirus).

One of the rare silver linings to arise from COVID has been a flock of new temporary card bonuses for the premium travel cards we all know and love. A few weeks ago, I did a deeper dive on how to make the most of your American Express Platinum card right now (which I affectionately refer to as the Big Granddaddy of Travel Cards), but I found myself opening my wallet the other day to pay for ice cream at a small shop in Knoxville and mentally scanning through a points spreadsheet – where’s my best earn potential here? 10x points at restaurants with Bonvoy? 5x Rapid Rewards points? What’s the Discover cash back category this quarter?

(Spoiler: Because it was a small shop and, I guessed, what American Express would deem a “small business,” I used Platinum, and I got $5 back on my $20 purchase. By far the best earn opportunity.)

Hence, the idea for this post was born. A quick run-through of exactly what benefits are still live, which have changed, and where to put your spend right now with the temporary bonus categories running amok for just a little longer.

Because I make approximately $0/hour writing this blog and none of these card companies are paying me (the audacity!), I’m not going to unfurl a laundry list of every obscure card on the market – but I’ll certainly highlight the ones that make frequent appearances on this blog, and even a few that don’t, since I know there are a few other heavy hitters out there worth highlighting.

To be clear, the benefits highlighted below won’t encompass all the perks that the card offers – just the temporary ones that have been instituted because… COVID.

American Express Platinum

The following benefits are currently set to expire at the end of December 2020, but who knows what the AmEx future holds.

• $20 back on streaming services (in other words, if you have Spotify, Netflix, Hulu, Prime Video, etc., switch your autopay billing card to your Platinum – the $20 is enough to fully cover my Spotify and ESPN+ subscriptions)

  • Note that Sapphire Reserve has a “10x points on streaming” offer running right now; unless you’re streaming $140 or more in content every month, $20 back will almost certainly exceed the value of 10x points. (Each point is worth approximately 1.5 cents. In order to get $20 worth of value in points, you’d need to spend about $140 per month. $140 * 10x points = 1,400 points, valued at around $21.)

• $20 back on your cell phone bill

• $5 back at small businesses

• I also noticed that I had a “Platinum offer” for $100 off at Dell, no strings attached – check your account to see if it appears for you, too.

Chase Sapphire Preferred & Chase Sapphire Reserve

The following benefits are currently set to expire on September 30, but I have a feeling they’ll get extended or updated. I’ll keep you posted.

• Reserve offers 10x points on streaming; as outlined above, if you have Platinum, the Platinum offer is the better one (Preferred offers 5x points on streaming)

• Reserve offers 5x points at gas stations; Preferred offers 3x points at gas stations

• Both cards offer $50 in statement credits for an “Instacart Express membership,” which they presumably hope you’ll begin using, since Reserve is offering 5x points on Instacart delivery and pickup orders and Preferred is offering 3x points

  • I looked into it out of curiosity, and the Instacart Express membership is $9.99/month or $99/year – the benefits feel a little nebulous: No delivery fees on orders over $35 and “reduced service fees,” whatever that means. All I know is, when I order from a “No delivery fee!” restaurant on Uber Eats, I still end up somehow forking over $10 in fees, tips, and taxes. I digress.

• Reserve friends, your $300 annual travel credit can be applied toward groceries and gas through the end of 2020. While those are probably less exotic destinations than you had in mind for your previously Turks and Caicos-bound travel funds, it’s better than nothing.

Context: An Ultimate Rewards point is worth about 1.5 cents, but can be worth way more if you know how to use them (for example, we highlighted in this post how you can make one Ultimate Rewards point worth about 4 cents by redeeming it for United flights).

Chase Freedom and Freedom Unlimited

The following is true for NEW cardmembers – so if you’re in the market for a new cash-back card, it’s not a bad time to grab this one.

• Receive a $200 bonus after spending $500 in three months

• 5% cash back or 5x points on groceries in the first year

Marriott Bonvoy cards

The following bonuses are set to expire soon, on September 15. Hopefully they decide to extend them [update from Future KG – they extended them through September 30]. Note that you’ll have to register for these if you haven’t already – you probably received an email from Bonvoy with a link.

• 10x points at restaurants and gas stations

  • This feels like a lot (and it is, compared to the regular bonus), but keep in mind Bonvoy points are worth a little less than others – if you have Preferred, I’d say put gas station spend on Bonvoy, and if you have Reserve, go with Reserve.

Context: Bonvoy points are worth about .8 cents each.

Southwest Airlines Rapid Rewards cards

These bonuses are currently set to expire on September 30, and they also require activation (like Bonvoy). Check your email.

• 5x points on groceries and gas stations

Context: Rapid Rewards points are worth about 1.5 cents each.

Discover It cash-back

While it’s not a temporary COVID bonus category, the Q4 categories that will earn 5% cash back on Discover cards are Target.com, Walmart.com, and Amazon.com.

Lazy human breakdown

We love a good “if, then” table. Here’s how I’d rank your options (based on the cards above):

GROCERIES

Omitting Instacart from this breakdown because that feels oddly specific. We’re talking regular ole’ grocery spend at your neighborhood Kroger.

#1: Chase Freedom, if you’re a new cardmember – 5% back or 5x points

#2: Southwest Rapid Rewards cards (5x points)

GAS STATIONS

#1: Sapphire Reserve (5x points worth 1.5 cents each)

#2: Southwest Rapid Rewards cards (5x points worth 1.5 cents each – since Reserve points can become Rapid Rewards points but are ultimately more flexible, Reserve takes first place)

#3: Bonvoy (10x points worth 0.8 cents each – I think this valuation is a little generous)

#4: Sapphire Preferred (3x points worth 1.5 cents each)

RESTAURANTS

#1: Bonvoy (10x points worth 0.8 cents each)

Oddly enough, I’m not aware of any of the other premium cards on this list offering a restaurants bonus anymore – I know Reserve has a $60 DoorDash credit and has a regular dining bonus, but 10x points on Bonvoy is probably your best bet.

AMAZON

#1: Discover It (5% cash back)

5% cash back on Amazon in Q4 is hard to beat. Sometimes there are Platinum offers (specific to your account) that will offer you a point multiplier on Amazon purchases, but you’d have to spend quite a bit for the Membership Rewards points earned with AmEx to usurp a flat 5% cash back.