Although I do not live in US anymore, I have retained the American Express Hilton Honors Ascend Credit Card. There are two reasons for it.
First, I love the zero forex fee feature of this (and several other) Amex cards. I tend to travel a lot and a ‘no forex fee card’ saves a few bucks on every trip. Second, for a $95 annual fee, I retain the Hilton Honors Gold status. This entitles me to free breakfast and other benefits at Hilton properties.
So far, I have been able to offset the annual fee easily.
Yesterday, I received a promotional offer on the Ascend card. Like most offers from American Express, it seems to be targeted.
Earn 5,000 Hilton Honors Points on Adding Additional Users
The offer terms are simple. For every additional member you add to your credit card, you earn 5,000 Hilton Honors Points. For this, the additional member needs to spend $250 in the first 3 months of card membership. You could earn a maximum of 20,000 points i.e. up to 4 additional card members.
Other important terms and conditions are:
- You could add anyone as an additional member as long as they are over 13 years of age
- Offer ends on August 31, 2019
- No additional fee for adding members
- You can set a spending limit for the additional card members (as low as $200)
Why Additional Card Member is a Great Way of Building Credit Score?
This is something that only an immigrant would understand. Credit score in USA is very important. And somewhat arbitrary.
When I first came to US for work, I had no credit history. Therefore, in spite of never having taken a loan, always paying my credit card dues on time and having savings worth a quarter million, I could not get a credit card. Because, my credit score was not satisfactory.
I had to take a Discover Secured Credit Card to build my credit score. Yes, the one that provides a paltry 1% cash back. And your credit limit is set to the amount you deposit.
Therefore, if you have kids in US and they are over 13, you should strongly consider getting additional cards for them. Once you provide their Social Security Numbers (it is not mandatory till 6 months), they will start building their credit score slowly.
The points bonus that you receive, is just an icing on the cake.