Exciting news! Updated details available, but act fast! American Express is reviving their Rewards Checking Account promotion with a new bonus of $250 for direct deposits. Here’s how to qualify:
- Open your first American Express Rewards Checking Account in your name by January 31, 2026.
- Receive a total of at least $5,000 in Qualifying Direct Deposit(s) within 90 days of opening the account.
- Once you meet these requirements, the Welcome Bonus will be credited to your Rewards Checking Account within 8-12 weeks.
This offer is aimed at existing American Express consumer credit cardholders and potentially those with savings accounts:
Who can apply for an American Express® Rewards Checking account?
Applying for an American Express Rewards Checking account is a quick process. We currently welcome applications from Card Members holding a U.S. Basic Consumer Card issued by American Express National Bank (AENB) with a minimum of 5 days of account history. Additional Card Members on a qualifying U.S. Basic Consumer Card from AENB and customers with an established High Yield Savings Account or CD (with at least 5 days of tenure) are also eligible, even if they are not existing Basic Card Members.
Your application will be reviewed quickly, and you may receive a decision within minutes.
By logging into your personal credit card account, much of the application form will be pre-filled, making it easy to complete in just a few clicks. Plus, there’s no hard credit inquiry.
Here are some key features of the Rewards Checking account:
- No monthly fees and no minimum balance needed.
- 1.00% APY (as of January 29, 2026).
- Earn 1 Membership Rewards® point for every $2 spent on eligible Debit Card purchases. These points can be combined with those from your other AmEx cards for redemption.
- Unlimited ATM withdrawals at over 37,000 MoneyPass® locations across the country without fees.
- Mobile check deposit feature is available.
- Free paper checks are not included, but they can be purchased at an additional cost.
According to the full terms and conditions:
A Qualifying Direct Deposit includes a single ACH transfer from an employer or government agency, such as a paycheck, pension, government benefit (like Social Security), or tax refund. To be eligible for this offer, you must receive at least $5,000 in Qualifying Direct Deposit(s). The following types of deposits do not qualify: person-to-person (P2P) transfers from money transfer apps, transfers between deposit accounts (e.g., checking to checking), online transfers or deposits not initiated by an employer or government agency, internal transfers from your American Express® Savings account, check deposits, and Membership Rewards® point redemptions.
