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American Express just announced a new limited time $30 monthly PayPal statement credit offer on the consumer Platinum Card.
- You receive up to $30 per month in statement credit on eligible PayPal purchases.
- This limited time offer allows you to earn up to $180 for 6 months from January 1 through June 30, 2021.
The Platinum Card has a high annual fee of $550, so the face value $180 definitely helps lowering the annual fee.
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| Amex and PayPal Statement Credit Partnership |
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How Does Amex Platinum Card’s $30 Monthly PayPal Statement Credit Work?
- No registration required.
- Simply add your Amex Platinum Card to your PayPal account and pay for any eligible purchases at an online merchant that allows PayPal checkout. Be sure to select your Amex Platinum card within PayPal to pay.
- This offer valid from January 1, 2021 – June 30, 2021 (total 6 months, $30/month up to $180).
- Any unused credit will not carry over to the following month.
- Eligible purchases do not include fees or interest charges, purchases or reloading of prepaid cards, purchases of gift cards, person-to-person payments including those for goods and services, or purchases of other cash equivalents.
- This offer is not eligible on Amex Business Platinum Card.
- Primary cardholder only.
How to Maximize Amex $30 Monthly PayPal Statement Credit
There are plenty of opportunities to use the Amex PayPal statement credit. Several online stores including airlines and hotels accept PayPal payment. You can even earn more if you use a cash back shopping portal.
Generally, we recommend that you use Cashback Monitor that allows you to compare each portal to see who gives the most cash back for shopping at an online store. For instance, Ebates/Rakuten is currently offering 6% cash back on Macy’s purchases. If you do not have Ebates/Rakuten account, you can join for free. If you join and spend $20, you will receive additional $20 bonus. So if you spend at least $20 at your favorite online store, you will receive $20 bonus back + whatever the cash back offer from Rakuten.
Here’s how you would do it:
- Create a PayPal account if you do not have one yet.
- Add the consumer Platinum Card to your PayPal account.
- Go to Ebates/Rakuten portal site.
- Sign in with your account. If you do not have an account, you can join for free. Plus after you join and spend $20, you will get additional $20 bonus from Rakuten.
- Search for your favorite store on Ebates/Rakuten website.
- Click Shop Now.
- Start shopping. You can make a single or multiple purchases and Amex will issue multiple statement credits up to $30 per month to you. Be sure to use PayPal to checkout and select your Amex Platinum card within PayPal to pay.
Amex PayPal Statement Credit On Gift Cards
American Express made it clear that:
- Eligible purchases do not include fees or interest charges, purchases or reloading of prepaid cards, purchases of gift cards, person-to-person payments including those for goods and services, or purchases of other cash equivalents.
This is a new limited time offer, there are not enough data points at this point whether in practice you can use PayPal checkout to pay for a merchant gift card as opposed to buying gift cards through PayPal. Yes, PayPal sells gift cards too.
How Long Does It Take for PayPal Statement Credit to Post?
While this PayPal statement credit is a new limited time promotion that is offered by American Express, it is very highly the time it takes for the statement credit to be issued by Amex is pretty similar to other credits such as Saks Fifth Avenue which is also a statement credit benefit on the consumer Platinum Card.
The rule of thumb is, after your eligible purchase is posted, allow 2-7 days for the credit to be posted.
Checklist For Maximizing Amex $30 Monthly PayPal Statement Credits:
- You add Amex consumer Platinum card to your PayPal account.
- You use cash back portal sites to go to your favorite online store website that accepts PayPal instead of going to that store website directly. If you are not sure what this means, we talked about this in details under “How to Maximize Amex $30 Monthly PayPal Statement Credit” section above.
- Several online stores accepts PayPal as payment. Just be sure during the checkout, you use PayPal checkout and use your Amex Platinum card within PayPal to pay.
- As always, don’t wait until the last minute to take advantage of this offer because some stores may not charge your card until the item is shipped. You receive monthly statement credit only on an eligible transaction that is posted (not pending) in that particular month. Any unused credit will not carry over to the following month
