A few weeks ago, Tim reported on a Business Checking offer to earn 30,000 Amex Membership Rewards points. That offer appears to still be live, but there is also now an offer to earn 50,000 points with qualifying activity. This offer requires you to tie up twice as much cash, but if you’re targeted and are able to meet the requirements, this offer does increase the incentive a bit.
The Deal
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- Earn 50,000 Membership Rewards points when you open a new American Express Business Checking account, deposit $10,000, maintain that balance for sixty days, and complete 5 qualifying transactions (see below) within sixty days.
Key Terms
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Terms and Conditions
To be eligible to earn a Welcome Offer of 50,000 Membership Rewards points, you must meet each of the following qualifying criteria:
- Open a new American Express Business Checking account
- Deposit a total of $10,000 or more in “new money” into your account within thirty (30) days of account opening (the new money must also post to your account and appear in your Available Balance within thirty (30) days of account opening). “New money” is defined as deposits that are not deposited from any other American Express® Business Checking account and are not deposited using our Redeem Membership Rewards points for Deposits feature.
- Maintain an average balance in your account of at least $10,000 for sixty (60) days, starting on the date that your deposits of new money are equal to $10,000 or greater;
- Complete 5 qualifying transactions within sixty (60) days of account opening. “Qualifying transactions” are defined as mobile deposits, and electronic/online transactions, including ACH, Wire, and Bill Payments made to or from your account. Business Debit Card transactions and deposits using our Redeem Membership Rewards points for Deposits feature are not qualifying transactions. Transfers between American Express® Business Checking accounts held by the same business are not qualifying transactions.
- After you have completed all the above qualifying criteria, American Express will credit the Membership Rewards points to the Membership Rewards Program Account linked to your American Express® Business Checking account within 8-12 weeks.
Quick Thoughts
The introductory bonus here is solid. It isn’t the best we’ve ever seen (there was a 70K offer last year that required $15K in deposits), but this is nonetheless a solid offer if you can meet the deposit requirement.
The key feature of the Business Checking account is the fact that it is possible to cash out Membership Rewards points to this account. However, you’ll need a Business Platinum card in order to get the best rate ($0.01 per point on up to 1,000,000 points per year, then 0.8c). You’d be better off with a Schwab Platinum card if that’s an option as you’ll get 1.1c per point when redeeming points for a deposit in your brokerage account.
Nonetheless, this will appeal to some folks for the bonus as it yields as many points as many new credit card welcome offers without the need to open a new credit card.
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Got the 70k multiple players this year.
I have multiple Businesses in my acct (each with a BBP & BP) but only ONE checking acct (70K). I tried to open one in a 2nd biz name and got rejected due to using the same email address(pop said only 1 checking acct per email address).
Expert opinion needed: if I set up a new gmail address and auto forward to my regular email address, am I risking a RAT issue????
Thanks all
Had to stop on the last step, which requires uploading business documents.
Tried twice a couple of months apart. Never had to upload documents for business cards before.
What kind of documents?
articles of incorporation, business license, tax forms, whatever you have to prove it’s a real business, even if you report as a sole prop.
Interesting as this seems to be inconsistent in when AMEX wants this. An article last month also mentioned document requests in the comments but I did this 50K bonus only 4 months ago with no documents required. It is for a sole prop that I already had a Biz Plat for and was targeted through that card. Perhaps the type of sole prop business reported affects the requirements?
i also have a Biz Gold and Biz Platinum with Amex. Got targeted on the Biz Checking non-stop for months. My only guess is the state you live in, perhaps some states provide documentation and therefore is required.
I’ve just uploaded a Word doc saying I have a sole prop and I do not have the documents listed. Application went through successfully
I got the same request for docs in the application process and called support telling them I’m a Sole Prop with no business articles. He suggested uploading a copy of my Social Security Card which I did and the application was approved and new account setup.
I have an offer for 70k points for an initial $15,000 deposit within 30 days. Then I have to maintain an average account balance of $15,000 for the next 60 days. Plus I need to make 5 or more qualifying transactions within 60 days of opening my account.
Pablo, my P2 received an email of the same offer you got.
Both P2 and me have the same.
I just got approved through the link; however, when I go to the Welcome Offer section, it only shows me as receiving the standard 30k MR point bonus.
Same, no message prior indicating it would be 30k and not 50k
Even though the landing page showed 50K? That’s weird. I’ll update.
Yeah that is right. I chatted with a rep and they said that the 50k offer is targeted from emails/the offers section and not connected with my account. They asked how I got to a 50k offer, I said that the landing page showed 50k even when logged in to my account and it didn’t say I was ineligible or it would be 30k. The rep said they would open a case which I was a little hesitant of but I don’t do any funny business so I let them open it
any resolution?
No haven’t heard from them
Same here 🙁