Maximizing My Cell Phone Bill Savings Using AMEX Offers

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Although Chase is probably my favorite credit card company for credit card rewards, AMEX is definitely a close contender.  One thing AMEX does well is give out free money through AMEX Offers.  When you have several AMEX cards like I do (5) then the savings definitely add up.  I’ve been maximizing on the recent AMEX Offer of $10 statement credit for every $75 spent on your cell phone bill up to 3 times.  Three of my AMEX cards had the offer, so I could potentially have $90 of AMEX statement credit!  Here’s some info on how I am maximizing my cell phone bill savings using AMEX offers.
I’ve recently switched my cell phone carrier from AT&T to T-mobile because its prices are unbeatable.  I was paying almost $200 after taxes with AT&T for 3 lines and now I’m paying $85 before taxes for 4 lines (because of 15% work discount)! The process was a bit complicated because I was in contract and T-mobile was able to pay my Early Termination Fees (ETF), but I did have to buy new phones.  I ended up buying 2 new iPhone 6’s and 1 flip phone.  I wasn’t going to use the flip phone but I needed to buy the cheapest phone to get T-mobile to pay my termination fees.  I was able to finance the phones at 0% and it ended up being $27 per month for 24 months. Therefore, my total bill was $110 + $27 + $27 + $3 = $167 after taxes for 4 phones and 3 new phones.  The total amount was still way less than AT&T.  If you want to save money on your cell phone bill, sign up with my referral link here.  T-Mobile was great on our last trip to Japan because of the free international data.
T-mobile and other carriers let you pay off your remaining balance on your financed phones at any time.  Therefore, I can make $75 payments towards the remaining balance of my phones at anytime.  Although, the fine print of the AMEX offer refers to cell-phone bill, the equipment bill will qualify as well.  I was able to pay $75 towards my equipment bill and instantly receive notification that I used my AMEX Offer!  I tried to make another $75 payment after, but it said I had to wait another 24 hours.
Make Payments Towards your financed smartphones.

Make Payments Towards your financed smartphones.

$10 credit for $75 paid towards cell phone bill

$10 credit for $75 paid towards cell phone bill

If you didn’t finance your phone, then you can pre-pay your cell phone bill $75 to earn $10 back.  This ends up being a 13.3% return.  Chase Ink gives 5X points on cell phone bills, but I only value Chase points at about 1.5 cents a point.  Therefore, a 13.3% return is better than a 7.5% return.  I think it’s worth pre-paying your cell phone bill to take advantage of this offer.  Financing your phone does result in a hard inquiry on your credit, so it may or may not be worth taking advantage of.  I didn’t want to pay $1,400 or so at once, so I decided to finance the phone, which incurs no additional cost.
Has everyone taken advantage of this offer? 

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