Amex transfer bonuses have alway fallen in late spring (end May), early September and Christmas period. September has always been restricted to hotels I believe. Don't anticipate anything until around May, and 'm sure there will be a promotion for hotels, CIBC but the acid test will be if Amex is again excluded which will then start to look like a trend, for the moment for Canadian residents, there has only been one Amex exclusion so far, but that was not an accident.