American Express is running a promotion for its prepaid cards. If you order an American Express Prepaid card and you load it with $25 before April 30, 2012, you will get another $25 gift card some time later.
Each person can order up to 3 cards. So you can potentially get $75. Shipping by first class mail is free. Because there is no credit check, it won’t affect your credit score. I just ordered 3 cards. I will see what happens.
An American Express Prepaid Card is just like cash on a card. You load balance onto it with bank debit. You use it wherever American Express is accepted. There is no monthly fee.
To order the cards:
- Click here.
- Fill out the order form. Enter promotion code AEPC25. [Update: This targeted offer expired]
- Enter your bank account information.
For compliance reasons American Express must ask for information such as name, address, date of birth and Social Security Number. Since I’m already an American Express customer, I’m not concerned about giving these to them when they already have my information. American Express also already has my bank account information because they have been doing auto debit of full statement balance on my credit cards every month.
If you want 3 cards, you will have to repeat the order 3 times although you will enter your bank account information only once.
American Express will do trial deposits to confirm your bank account. After the trial deposits arrive, you go tell them the amounts. Then you just wait for the cards in the mail.
Good deal for a few minutes of time. Via FatWallet.
Say No To Management Fees
If you are paying an advisor a percentage of your assets, you are paying 5-10x too much. Learn how to find an independent advisor, pay for advice, and only the advice.
Thanks! How were you able to re-do the order 2 more times without having to re-enter in the checking account info?
Harry Sit says
@Matt – On the 2nd and 3rd orders, bank account info was prepopulated.
@John – I figure it was worth a try. No big deal if I don’t get the bonus. I used my own name on all 3. Didn’t want to give info AmEx didn’t already have. If that means 1 bonus instead of 3, so be it.
The FW thread mentioned that is by invitation only and even if you have promo code; you will not get the bonus?
Also o the 3 cards need to be in different names?
Is it taxable income.. should I expect a 1099 for the bonus at tax time?
Harry Sit says
I don’t think so, but we will see.
My dad has credit monitoring in place got email about credit check by American Express 5 minutes after filling out the form. So, there is credit impact for sure.
If it is 3 cards per person, can spouses hope to “earn” $150 by ordering 6? Or is it 3 per households? And when is it “some time later” to really find out?
If too much gravel gets mixed in with grain, the monster just might choke 😉
Harry Sit says
@serbeer – Was that a soft pull or a hard pull? I’ve been on FatWallet long enough to know that with these deals you win some, you lose some. Nothing ventured nothing gained. You snooze you lose. I’m expecting to get 3 gift cards for the 3 cards I ordered. If I end up just getting 1 gift card or no gift card at all, it’s not a big deal.
I see they already made the random deposits but they debited it back out.
Found on another blog: (http://creditcardforum.com/blog/american-express-pass-card-review/)
During 2010, American Express offered a couple different promotions – one for $25 and the other for $50 – on new signups for the Pass Card. Unfortunately as of January 2011, it looks like those offers are no longer available. However they are offering to waive the $3.95 monthly fee until Oct. 1, 2011.
I ordered one card, so we will see if anything will show up…
One good thing about AmEx prepaid cards is that amount up to $750 is not taxable (though I would confirm the data before acting on it). My company has been giving away our Xmas bonus in AmEx cards. It is nice to get a bonus that you don’t have to pay taxes on.
Nice, I posted about this too. I have done this promo before succesfully for 3 cards. Here is what you need to do. Sign up for the first one in your name/SS etc. For the next two, you can use the same address, but it must be a different name,birthdate(remember this info for activation). Again, this is what worked for me a few months ago the last time they had this promotion.
Good Luck! http://yourpfpro.com/?p=176
David C says
“One good thing about AmEx prepaid cards is that amount up to $750 is not taxable (though I would confirm the data before acting on it). My company has been giving away our Xmas bonus in AmEx cards. It is nice to get a bonus that you don’t have to pay taxes on.”
I’m not a tax expert, but I fail to see how the means used to give you a bonus impacts its tax status. AFAIK you’ll still owe tax to Uncle Sam for the bonus…
Their site says there is no credit check
Just got off the phone with AmEx about why I haven’t seen the giftcards yet. The lady on the other end said “it went viral so we changed it and only gave cards to those that had been directly invited”. So don’t get your hopes up if you never see the gift cards. Pretty bummed about it.
Harry Sit says
David – There’s a new promotion on the prepaid card home page: get a $25 gift card if you load $200 before June 30. I did it on my three cards. They should come this time.