American Express Membership Rewards are among the useful as a Canadian, because they have the flexibility to transfer to both Aeroplan and Avios. Today, they’ve just positively changed the offer on the American Express Business Gold Rewards Card.
The offer is now 40,000 points, with a waived first year annual fee. This is AMAZING!
This is the first 40,000 points offer I’ve EVER SEEN with no ANNUAL FEE. THIS IS BASICALLY THE BEST HISTORIC OFFER I’VE EVER SEEN FOR A NO FEE CARD. WOW.
Along with the Platinum Card, which offers 60,000 points, as well as the personal Gold Rewards Card, which offers 25,000 points as signup bonuses, American Express has one of the most lucrative offers at this point. Currently, the public offer is a 30,000 points, but through my link, you can receive 40,000 miles.
There are a few major points that are worth noting.
40,000 miles American Express Business Gold Signup Bonus
THIS. IS. HUGE. Membership Rewards are extremely flexible, and can be transferred at a 1:1 ratio to Avios or Aeroplan. That means, at the very least after the spending, you’re getting 45,000 of those for free. You can also redeem for a TripFlex credit, which is that great of a deal but is still free. In my opinion, the signup offer is worth at the very least $675, because I would value Aeroplan/Avios at 1.5 cents apiece.
$5000 Minimum Spending to Unlock Signup Bonus
To earn the 40,000 points signup bonus, you have to charge a minimum of $5,000 within the first three months to unlock the 40,000 points from the signup bonus. This might be a bit steep compared to previous offers, but I’m sure that most people should have at least $1666 of chargeable expenses a month. So if they just shift all their spend to this card, then it shouldn’t be too hard. Alternatively,you can float $5000 through a few months by buying something refundable or gift cards for later use. I personally don’t see the minimum spend as a big issue. If it is for you, please let me know.
Small Business Credit Card Application Requirements
This American Express Business Gold Rewards card is intended for small businesses owners. That’s what American Express says.
However, anecdotally, I’ve heard that American Express isn’t as strict with this card as say TD, who requires Articles of Incorporation and Master Business License, among other things.
You might be able (no guarantees) to get the card based on existing businesses you run or perhaps even things you do on the side that you might not consider a business – the one that comes to mind right now is an Ebay seller or other online seller.
The application from what I’ve seen still asks for your Social Insurance Number, as well as your personal income, so it may be possible that American Express can be evaluating you personally while also looking at your business. I will be applying for this card soon, so I’ll write a followup post on what they’re looking for.
View From the Wing write about why you should get a small business credit card.
Even though it’s an amazing offer, I think it’s worth considering the several points I’ve just talked about. However, having said that, it is an AMAZING OFFER! Let me know if you have any additional questions in the comments.
Here are the official marketing bullets for the card:
- Earn 1 point for every $1 in purchases charged to the Card. Plus, you can earn 1 extra point for every $1 in eligible purchases charged to the Card at 3 suppliers you pick from a list of select American Express merchants in Canada. You can earn up to a maximum of 250,000 extra points in each calendar year.
- Earn 40,000 welcome points by making $5,000 in purchases in your first 3 months of Cardmembership.
- Transfer your points, at no charge, to many frequent flyer and other loyalty programs including 1:1 to Aeroplan and Avios.
- Maximize your cash flow with up to 55 interest-free days.
- Expense Management Reports. Quarterly and annual reporting that makes record keeping, expense tracking and tax preparation easier.
- Offset Business Expenses with PointFlex for BusinessTM.
- Offset Trip Expenses with TripFlexTM rewards.
$250 Annual FeeFirst Year Annual Fee WAIVED which may be a tax deductible expense (30% annual interest rate applies to balances not paid in full).
Application Link: American Express Business Gold Rewards Card