Amex Savings, $200 Bonus for Select Cardholders

American Express is targeting some existing cardholders with an offer to earn a $200 bonus when opening a new American Express High Yield Savings Account. You must have received an email in order to qualify. Let’s check out the details below.

Offer

Earn a $200 Cash Bonus when you deposit $25,000 or more into a new American Express High Yield Savings Account. This is the link to the account, but the bonus doesn’t show in there.

Offer available to email recipients who don’t have an existing Savings account. Funds must be deposited by March 7, 2022 and held for 90 days. 

Offer Details

• This offer is only available to customers new to American Express Savings.
• Offer is not available to:
  • non-American Express Card Members
  • American Express Card Members who did not receive this email from American Express directly, or
  • American Express Card Members who have been named as a primary or joint holder on an active American Express High Yield Savings Account as of the date on which the email was sent (2/15/2022).
• A cash bonus amount of $200 will be credited to your new account after you, as the primary account holder, deposit a total of $25,000 or more of new money (not transferred from an existing American Express Savings, checking or debit account) into a new American Express High Yield Savings Account by 11:59pm ET on March 7, 2022. A “new” account for this purpose is an account that is opened on or after the date on which this email was sent by American Express. High Yield Savings Accounts that were active prior to the date on which this email was sent by American Express are not eligible for this offer.
• You can reach the Threshold Amount through one or more deposits, provided that the total Threshold Amount is reached and posted to your account by 11:59pm ET on March 7, 2022.
• Funds must be held in the account during the 90-day period that begins on March 8, 2022 and ends on June 5, 2022, after which the bonus will be credited to your account within 8-12 weeks.
• If funds in the account drop below the Threshold Amount at any point during the 90-day period, the account will no longer be eligible for the promotion. 

Guru’s Wrap-up

This is a decent offer if you have the $25,000 required for the bonus. You need to deposit the money into your new American Express High Yield Savings Account and keep it there for three months. It works out to a 3.2% APY, which is much better than what you can currently get with most banks. The account is FDIC insured and earns 0.50% APY.