Amex just dusted off the Marriott Bonvoy Bevy's better welcome offer: 125,000 Bonvoy points plus a $150 statement credit after you drop $5,000 in the first six months. This exact bonus has shown up and vanished before, so if you missed it last time, it's back on the books through September 30, 2026 — no guarantee it sticks around after that.
The catch, because there's always one: this card carries a $250 annual fee, and you're earning Marriott points, which are worth somewhere around 0.7 cents apiece if you're being honest instead of aspirational. Run the math and 125,000 points lands roughly in the $800-$900 range depending on redemption, plus the $150 credit — enough to cover the annual fee with room to spare in year one, especially if you also clear the $15,000 spend needed for the free night certificate.
If you're already living in the Marriott ecosystem or have a stay that can soak up that free night, this is a solid grab. If you're chasing it purely for the points, remember Bonvoy points aren't liquid — set your cash-out expectations accordingly before you apply. Confirmed directly on American Express's own application page, where the 125,000-point, $150-credit offer and the September 30, 2026 expiration are both spelled out in the current terms.
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