For those looking to use the credit before the account anniversary, we stayed at the Doubletree Breckenridge. We booked the room in September and stayed in November. The hotel charged us a one night deposit in September (even though it was a fully refundable reservation). Amex reimbursed us two days after the deposit was charged in September. We had some room and valet charges when we stayed in November and Amex reimbursed us the rest of the $250 dollar credit then.