Update 6/23/20: It’s possible this offer is actually available to everybody (1,2). Would be good if American Express made the terms clearer if that is the case. Might be worth calling American Express first to confirm your eligibility.
The Offer
- American Express is offering some cardholders $2,500 if they refinance their home loan with Better.com
The Fine Print
- Must be used by October 28th, 2020
Our Verdict
We saw a similar offer with Quicken loans. I think you’re normally just better off going for the best rate rather than chasing these types of refinance offers. It’s interesting that American Express is offering multiple variants of basically the same offer. I’m guessing this is something that they are split testing and plan to have some sort of public offer in the future. One thing a card issuer like Chase has over American Express is the ability to cross sell to cardholders more profitable products such as home loans.
Hat tip to reader Joshua
