Breaking Points: Credit Card News

Bank of America is notifying Spirit Airlines credit cardholders that their existing cards will be converted to the Bank of America Customized Cash Rewards card. New cards will be mailed automatically, and existing Spirit cards can continue to be used until they arrive. Some cardholders are also receiving a $250 cash bonus and an additional 2% cash back on purchases through September 30, 2026, although those offers appear to be targeted. If you paid an annual fee on your Spirit card, Bank of America has reportedly been refunding those fees upon request, but refunds have not been issued automatically.

Update: This is now officially over as of August 6, 2026. You can no longer get an elevated bonus for this card, even via referral link. The welcome offer for the Chase Sapphire Preferred is back to 75,000 points.

The highest-ever 100,000-point welcome offer on the Chase Sapphire Preferred ended publicly last week, but it remains available through referral links. We’ve added an eligible referral link to the card page, or you can apply directly here. Referral offers can disappear without notice, so it may be worth applying soon if you were still considering the card.

American Airlines has tightened its 24-hour cancellation policy, and it did so without any announcement. Customers have historically been able to receive a full refund to their original payment method when canceling within 24 hours as long as the flight was booked at least 48 hours before departure. American now requires flights to be booked at least seven days before departure to qualify for that refund. Travelers canceling close-in bookings may still receive an American travel credit, but they will not receive cash back. If you have the ability to use miles for AA bookings, any canceled flight will still result in getting your miles back.

Amex is targeting some cardholders with an offer to receive a $350 statement credit after spending $1,000 or more with Marriott Homes & Villas through September 30, 2026. The spending requirement can be met across multiple transactions and reservations, so you do not need to spend $1,000 on a single stay. This can also stack with Marriott Homes & Villas promotions and shopping portal rewards, potentially creating significant savings on an eligible vacation rental.

Wyndham is offering targeted bonuses of up to 90% on purchased points through August 14, 2026. Some members are only seeing an 80% bonus, but even that drops the purchase price to 0.72¢ per point, while the full 90% bonus lowers the cost to just 0.68¢ each. Since we value Wyndham points at around 1¢ apiece, either offer can represent good value. As always, we generally recommend buying points only if you have a specific redemption in mind. The standard annual purchase limit of 100,000 points still applies, and you must buy at least 3,000 points to receive the bonus.