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American Express Cardholders Can Get Up to $6,000 Statement Credits If They Use Rocket or Better Mortgage

American Express

If you happen to be an American Express cardholder, or were thinking about becoming one, they’ve got new a limited-time promotion with Rocket Mortgage and Better Mortgage.

On top of waiving some origination fees, the card issuer will provide cardholders with up to $6,000 in statement credits if they use one of the mortgage lenders above to purchase a home or refinance an existing home loan.

So if you were planning on using either of these lenders, it could actually make sense to become a cardholder first, then apply.

Or if you were thinking about using a different lender, you might want to get a quote from these two lenders as well.

Then do the math to see if this promotion makes them the cheaper option.

How the Amex Mortgage Promotion Works

  • Finance a home purchase or refinance a loan with Better or Rocket Mortgage to receive a statement credit
  • $2,000 statement credit for conforming loan amounts
  • $6,000 statement credit for jumbo loan amounts
  • Both lenders will also waive loan origination fees like processing and underwriting

In order to be eligible for this new promotion, you need to be an American Express cardholder.

Specifically, you need to be a “basic account holder” of a personal consumer American Express card, such as the pricey American Express Platinum or a free option like their Amex EveryDay credit card.

Aside from that, you also need to apply/lock your home loan by a certain date, and close by the cutoff as well.

The good news is there is plenty of time to get your mortgage application in before this promotion period ends.

For Rocket Mortgage, you must apply by October 2nd, 2022 and close your loan by January 1st, 2023.

For Better, you must lock your rate by April 4th, 2024 and close by July 8th, 2024.

In other words, it appears the Rocket deal has concluded. But you’ve got over a year to apply and even more time to actually fund your loan with Better to get the statement credit.

Speaking of the credit, you can receive a $2,000 statement credit for a conforming loan, and a whopping $6,000 statement credit for a jumbo home loan.

For reference, the conforming loan limit for 2021 is $548,250, so anything above that would qualify for the much larger $6,000 credit.

You could then use that credit to offset any purchases on your associated American Express card.

Be sure to use the official links (Better/Rocket) to create/sign into your account, or if you’ve already applied, request the offer from your loan officer prior to closing.

Is the Amex Mortgage Promotion a Good Deal?

You don’t see many mortgage promos these days (or ever), so this is certainly something worth looking into, especially with such big money on the line.

It also seems to be very easy to qualify for, without many hoops or gotchas along the way.

And if you’re already an Amex cardholder, it’s really just a matter of signing up via the Amex link and/or mentioning the offer to your loan consultant.

The only real string here is if Rocket Mortgage and Better are good lender options versus the competition.

You’ll still need to do your due diligence to see if the $2,000 or $6,000 credit makes them the cheaper alternative relative to other lenders out there.

Those with a jumbo loan who are eligible for the $6,000 credit should have a pretty compelling argument though.

And as alluded to above, to sweeten the deal they’re also waiving loan processing and underwriting fees for eligible Amex cardholders.

Better doesn’t charge lender fees to begin with, but Rocket might, so on top of the statement credit you can get reduced closing costs.

It’s unclear if this deal also waives any applicable loan origination fee that Rocket may charge, so be sure to get clarification on that if/when you look into it.

All in all, this promo makes it worth at least speaking to these two lenders alongside other options to see where they stand pricing-wise.

4 thoughts on “American Express Cardholders Can Get Up to $6,000 Statement Credits If They Use Rocket or Better Mortgage”

  1. Refinanced my mortgage with Rocket Mortgage because they were offering the $2,000 American Express statement (I have been an American Express credit card holder for 12 years). We closed on November 2021, contacted Rocket Mortgage in January 2022 about that, The guy said “I will look into it”. Contacted him again in February 2022 to have an update, he answer “The process began.” Contacted him again in March 2022, he answered “I am not sure if we can do that” (he never asked me for my credit card number even after I told him I can give it to him). Contacted him again in April 2022, he answered “sorry we cannot do that.”

    Is this American Express credit statement by Rocket Mortgage a scam? In my opinion it looks like it is.

  2. Colin Robertson


    Did you reach out to American Express as well? Perhaps they could be of more help here?

  3. Lionel,
    The article clearly states that ” you also need to apply/lock your home loan by a certain date, and close by the cutoff as well. For Rocket Mortgage, you must apply by October 2nd, 2022, and close your loan by January 1st, 2023″
    You closed on November 2021, I am not sure when this promotion started but it seems like your loan falls outside of the time frame.

  4. Yes we used this for our jumbo and got the $6k credit applied to our Amex account. Just be careful as they will send you a 1099 showing it as income at the end of the year.

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