This mileage collection technique might be more effective with another type of card that offers a higher reward. For example, gas credit cards typically offer 1% or so. And the GM Card offers a 5% rebate, provided you plan to buy a new GM vehicle some time.

What about the Delta SkyMiles Amex Optima? Would you be lucky enough to get double miles? (From recent posts I've seen, maybe not.)

Also, thanks for pointing out this online option with Amex. This sounds more attractive and far more convenient than buying the Bonds at a local bank (provided one is comfortable with such an online transaction). The banks don't seem to be comfortable with such transactions, probably because they don't make money on it, and it doesn't happen often.

PS - as was first pointed out, there are a few rules and timing issues to consider if you pursue this. Yes, its best to buy the bonds near the end of the month, but transaction delays may cause the bonds to actually be printed with an issue date early in the next month. This can happen easily when buying bonds in person at a bank.
Also, bonds have to be cashed in person at a bank. Bank tellers typically look up bond values in tables. Errors can occur when calculating the redemption value of the bonds. Best to do your homework on savingsbonds.gov before ordering bonds or going to the bank to cash them.

[This message has been edited by UpperDeck (edited 11-22-2001).]