Targeted: 325,000 MR Points with $1,450,000 Spend

Right now there is an excellent opportunity going on:

Enroll by June 6, 2017 and earn 250,000 Membership Rewards points after you spend $1,150,000 on qualifying purchases with your Card. After you earn the first Membership Rewards points, you can earn an additional 75,000 Membership Rewards points after you spend an additional $300,000 on qualified purchases with your enrolled Card by October 6, 2017. Terms and Conditions apply.

I tried to sign up here, but it looks like its targeted. Thanks to u/soulsandwich for the link, and the advice of getting other offers generated.

Since I don’t have the offer, I can only speculate on exactly what I would do. So we go back to our Brad Wilson Churn idea and expand it to $1.45 million dollars. What exactly does $1.15 million and $300k in gold look like? We turn to which is the only site that takes AmEx. They sell 100 oz Gold Bar Republic Metals Ingots for $133,431.44 a bar with credit card. This price is $67.86 per ounce over spot of $1,266.45. With $1.45 million we can buy eleven 100oz bars of gold, and just hope that the spot rises at least $68 to hit $1,334.45 to sell back.

With the $1,467,745.84 charge we would get 1.5 points per dollar since we went over the $5,000 charge threshold on my AmEx Business Platinum. This is just 2,201,618 MR for the spend alone. Combine this with the bonus of 325,000 bonus we get 2,526,618MR for a cool $1,450,000 spend. This is an nice 2 points per dollar spent.

What does 2,201,618 MR points get you? Well right off the bat with Charles Schwab you could take the $27,520.22 and spend it on anything you want with 1.25 cents per point. You could also get $44,032 in airfare for first class or business class tickets or coach of the airline of choice using the old 50% biz combo trick. On more ideas we can look at what the points guy suggested for 26 million MR points.

Of course a transaction this large would raise alarm bells at the AmEx home office and sure as hell would raise alerts to the RAT. There could be an argument that the gold is a cash equivalent much like a gift card or coin. Plus for every ounce of gold you are paying a $67.86 premium, and 1,100 ounces of gold means $74,646 lost in fees right away! Storage and transportation of 1,100 troy ounces (75.42 pounds) of gold might cost you a bit as well.

Let me know if you go through with the churn! I will buy you a beer.



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