Are Credit Cards' Partner Offers Worth Your Time?

I’ve always been a fan of using coupons to get a two-for-one deal at my favorite restaurant, or a significant discount on some of my purchases. 

It turns out that credit cards are (sort of) getting in on the coupon game too, as many issuers now offer merchant-specific offers. Although everyone loves a discount, these offers sometimes seem like compensation for the rapidly increasing cost of the card’s annual fee.

What is an offers program?

Offer programs feature statement credits or additional rewards for making specific purchases. Some of these offers are fixed and offered annually, like travel credits added to your account whenever you book a hotel, and are part of the features used to attract new cardholders.

Then there are the temporarily available offers for additional points, miles or cash back for making specific purchases. These are temporary offers that aren’t baked into the card’s terms and conditions. 

I have over 100 offers available for each of my Amex cards

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Are offers programs worth your time?

Free statement credits or rewards sound great, but it’s not that simple. Many people, like myself, factor statement credits into our decision about whether it's worth renewing a card with a higher annual fee. 

That means we have to take the time to review the offers, activate them and remember to use them before they expire. 

It might not sound that hard, but with hundreds of offers constantly rotating in and out, it's easy to forget to use them. 

The result is something that the industry calls "breakage." It’s the cardholder’s failure to complete an offer, and the card issuers are counting on it. The fewer benefits you take advantage of, the more money the card issuer makes off your account.

Alternatively, there’s the possibility that you’re making additional purchases to complete the offer. If you wouldn’t have made the purchase anyway, you’re not actually realizing any savings. 

If I wasn’t going to make a purchase from Best Buy, I would certainly not be saving money by making an unnecessary purchase just to earn some extra points, miles, or cash back. 

Here's how I use offers to earn more

As an expert in credit cards and travel rewards, I like to think I’m a little ahead of the game when it comes to getting the most value from my credit cards. When it comes to offers included in the terms of my credit card agreement, I use a spreadsheet to keep track of which offers I’ve used. 

When it comes to the limited-time bonuses for specific merchants, like Amex Offers, I participate much less. I’ll peruse what’s available from time to time, or when I’m about to make a large purchase. I try to keep myself from making unnecessary purchases, just to trigger an offer. I know that 20% off of an unnecessary purchase is really just a waste of 80% of your money. 

Best issuer offers programs

Amex Offers

Amex Offers is among the oldest and is still the best of these programs, in my experience. All Amex cards regularly show about 100 offers for bonus points, miles or cash back. 

These offers can be for featured merchants, or even for other activities like referring a friend, adding an authorized user or meeting a spending goal. As with most offer programs, you need to opt-in to earn the bonus, but if you opt-in with one card, it won’t appear on others. 

Chase Offers

Chase Offers is also a strong program, but it’s typically more limited than Amex Offers. These deals tend to be more generous for purchases with high-profit margins, such as entertainment streaming, flower delivery and luxury consumer goods. Unlike Amex offers, Chase Offers may not be available for all cards. 

Citi Offers

Citi Offers is a fairly generous program that appears to be available for most Citi cards that offer rewards, but not all. 

Offers include those for travel, dining, entertainment and shopping, and some can be quite generous. Just note that Citi uses the same program used by Rewards Network, and you will only earn rewards from the most recently partnered site. 

Do you need to use an offers program to get a good return with your credit card?

Unlike the benefits and perks that offer consistent value like a card's annual statement credits, I don't factor in the temporary merchant offers when deciding if a credit card is worth the annual fee. Instead, I think of the offers as special deals that give me a little extra value for purchases I already intended to make -- with or without a coupon.