End of year checklist: Do these things by Dec 31st


We’re re-publishing this as a reminder for those of us waiting to the very last minute to complete these by the end of the year tomorrow.

With exactly one week left in 2019, it’s time to dot the i’s and cross the t’s and make sure you have everything buttoned up in time for the new year. It can be easy to forget something simple, and indeed I’ve once again left a few things to the last minute that I’ll now need to finish up before year’s end. For the procrastinators among us, here is a list of things not to forget to do before 2020 begins next week.

Not yet, but soon!

Use airline incidental credits

Amex Airline Fee Credits

  • Amex airline incidental credits, like those that come with the various flavors of Platinum cards or with the Hilton Aspire or Amex Gold card, are offered by the calendar year. These credits post based on the date that the charge is made on your card; even if you make a charge on 12/31 and the charge doesn’t post to your statement until a few days into 2020, it’ll count against your 2019 cap as long as the charge date shows December 31st or sooner. Just make sure you know which airline you’ve chosen (or you might be able to get a chat rep to change your chosen airline if you haven’t used your credit, but YMMV). See: Amex airline fee reimbursements. What still works?
  • Chase Ritz-Carlton incidental credits are also based on calendar year and the date that the charge hits your statement. Be sure to charge any incidentals by December 31st and you should be able to apply your 2019 credit even if the charges don’t settle for a few days into 2020.
  • Citi airline incidental credits work based on the statement cut date. Once your December statement cuts, your travel credit begins anew. In other words, if your December 2019 statement has already been issued, you can now begin using your 2020 travel credit (and conversely that would mean it is too late to use any remaining 2019 credit).
  • Bank of America Premium Rewards incidental credit works like Amex and Chase above in that the credit runs from January 1st to December 31st. Be sure to place qualifying charges by December 31st.

Use other annual credits:

  • American Express Business Platinum: Use the semi-annual Dell credit by December 31st. Be sure to enroll online to use it first if you have not already done so.
  • American Express Platinum (consumer versions): Use the semi-annual Sak’s Fifth Ave credit, just be sure not to use it on gift cards as Amex has clawed back the credit on gift card purchases even months after closing the card. Also remember that this month’s Uber credit is the higher $35 amount.

Register for WeWork (Business Platinum Cardholders) Update: This benefit is no longer available for registration as of 1/1/20.

If you have an American Express Business Platinum card, you have until the end of the month to enroll in the WeWork benefit to be able to use co-working spaces in cities around the world. Amex recently announced that this membership benefit will run until the end of December 2020 for anyone who has enrolled in 2019 — even if your WeWork membership was set to expire before December 2020. This benefit is being discontinued on January 1, 2020, so you’ll want to register for it now to have access during 2020.

Status match

Strategic status matches are a good tool to have in your belt. Sometimes, one can leverage a single year of earned status into several years by matching from one program to the next. In some cases, you can go from zero to hero in a matter of clicks. Keep in mind that you’ll want to match status before your current status level expires, though for some programs that you have another month or two before status drops.

On the hotel front, I recommend reading this post that will position you to hop on the status-match-go round. Also, if you have Hyatt Explorist and have not yet matched to MGM Mlife Gold, do that now.

Choose choice benefits

Some elite statuses come with an annual choice benefit where you can select from among a few key benefit options. Be sure to make your choice selections ASAP.

  • Delta choice benefit: You have until January 31, 2020 to select your choice benefit if you achieved Delta status during 2018 for the 2019 calendar year, so you have another month on this one at worst. Those who achieved Delta status during 2019 have until January 31, 2021 to make their selection. Delta Diamond Choice Benefits: Which to choose and when?
  • IHG choice benefit: If you achieved Spire Elite status last year (in 2018), you have until December 30, 2019 to make your choice benefit for this year. If you have achieved Spire Elite status based on 2019 activity, you will have until December 30, 2020 to make your selection.
  • Marriott choice benefit: Annual Choice Benefit selection must be made by 11:59 pm ET on January 15, 2020. Note that the website says that you will be able to make your choice benefit selection within 48 hours of achieving 50 or 75 nights. Make your selection here. See: Marriott choice benefit valuations: Which to pick? for help deciding which to choose.

Apply for Amex cards

December is the ideal time to apply for American Express cards that come with annual credits. That is because those credits are based on calendar year. It is therefore possible to open a card with incidental credits now and potentially use that incidental credit for 2019 by December 31st and then receive a new incidental credit starting on January 1st, 2019. Since your next annual fee would not be scheduled to post until December 2020, it would theoretically be possible to use your annual credit again in January 2021 and cancel the card before the fee comes due if you decided that you no longer wanted to keep it. In the current environment with Amex sometimes clawing back credits even months after a card is closed, I’d recommend some caution here. Still, it should at the very least be possible to double dip. That said, there aren’t many days left in 2019 to receive your new card. The Amex system will sometimes offer to auto-generate a temporary card number upon approval or you may be able to get your new card expedited by asking (YMMV).

Transfer / pool points

While Chase does not cap how many points can be transferred among your cards or to/from one household member or joint business owner, and Capital One does not limit the number of their miles you can transfer to another cardholder of a Capital One miles card, some programs are less generous. The following programs limit how many points you can transfer between members by the calendar year. If you’re looking to pool points for a valuable award, consider making a transfer before December 31st if you need to split your transfer in two.

  • Citi ThankYou points: You can transfer up to 100,000 Citi ThankYou points per year and/or receive up to 100,000 Citi ThankYou points per calendar year. Keep in mind that points received through a transfer from another cardholder expire after 90 days. Only transfer points with an immediate use in mind. That said, if your chosen award will require sending over more than 100K points, you should be able to transfer up to 100K by December 31st and then a fresh 100K beginning on January 1st.
  • Marriott Bonvoy Rewards: You can transfer up to 100,000 points per calendar year to another member and you can receive up to 500,000 transferred points per calendar year. That should reset on January 1st, so make any necessary transfers now if you think you might need to move more points than those caps.
  • Hilton Honors: Each account can receive up to 2,000,000 Hilton Honors points in a calendar year and you are limited to six Hilton points pooling transactions per calendar year.

Make charitable donations

If you intend to make charitable contributions for 2019, the deadline is December 31st. The US Bank FlexPerks Travel Rewards Visa offers 2x for charitable contributions.

Redeem points or miles for annual rebates

While the annual mileage rebate that used to be a feature of some American Airlines credit cards is no longer available, one rebate that sticks out to use before the end of the calendar year is with the Citi Rewards+. With that card, you’ll get back 10% of the points you use (up to 10,000 points back) per calendar year. This means that if you have your points pooled with a Premier or Prestige card and you transferred 100,000 points to an airline, you’d get 10,000 ThankYou points back. I expect that if you initiate the transfer by December 31st, you’ll get the rebate for the current calendar year, but it is possible that the rebate is based on the date when the transfer finalizes, so it would be best to give yourself a few days before the end of the year on any transfer you intend to make.

Make sure you’ve completed spend bonuses

Whether the quarterly category bonus on a card like the Chase Freedom card or a big spend bonus that’s based on calendar year, you’ll want to run the numbers to be sure you’ve made it over the hump. For example, it would be a shame to end up just under the $15,000 spend required for a Hilton free weekend night certificate or just below the $20K in purchases necessary on the BOA Amtrak card in order to transfer points to hotel partners. Last year, I just missed an additional free night certificate on my Radisson card by miscalculating how much I’d spent during my cardmember year (note: the Radisson card’s bonus is not a calendar year bonus, just an example of one I missed).

Southwest referrals

The annual cap on referrals is 50,000 points per card. Last year, I discovered that referrals made after your December statement cut date but by December 31st count toward the current calendar year’s Chase referral limit, but will post to your Southwest account in January. This means it is possible to double dip and earn up to 100,000 Rapid Rewards points per Southwest card in January. Here’s how that works:

  • Refer 5 friends after your December statement cut date and by December 31st: Earn 50,000 points (10K per approved referral) on your January statement date
  • Refer 5 friends beginning on January 1st and before your January statement cut date: Earn 50,000 points (10K per approved referral) on your January statement date

While you may not have ten friends to refer, this info can be useful for bumping you up over the hump for the newly-increased 2020 requirements (you’ll need to earn 125,000 Rapid Rewards points during 2020 to earn the Companion Pass).

Bottom line

I’m always a little overwhelmed during the last week of the year in terms of holiday commitments, wrapping gifts, and taking a little time to relax and enjoy time with my family. Stressing over which credit card tasks need to be completed by year end doesn’t help, but hopefully this list reminds you of any loose ends you need to tie up before we set off into a new decade next week.

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