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Update: unfortunately the deal seems to be dead
Earlier I posted about the amazing sign-up bonus that American Express is running on the Enhanced Business Gold Rewards Card, offering 75,000 Membership Rewards points after spending $5,000 within three months. While the annual fee is $175, it’s waived for the first year.
Ordinarily the card doesn’t offer any sign-up bonus. The past few weeks they’ve been offering a promotional 50,000 point sign-up bonus, and since yesterday they seem to be unofficially offering a 75,000 point sign-up bonus. I say unofficially because not everyone seems to “see” the offer when they click the link. While American Express has rarely offered one day promotional sign up offers of 75,000 points, it has always been with a minimum spend of at least $10,000 to my recollection. And given how only some people can “see” the offer, I’d be willing to bet it will be pulled very soon, so I wouldn’t delay if you’re eying the card.
Anyway, I’ve gotten a ton of questions about the offer in the comments section and via email, so I figured I’d address some of the most common ones here.
When I click the link it shows a bonus for 50,000 bonus points. How do I get the 75,000 bonus point promotion?
For whatever reasons the offer doesn’t seem to come up on some computers or in some browsers. For example, the 50,000 point offer loads in all browsers on my laptop, while the 75,000 point offer loads in all browsers on my desktop.
So if you don’t see the 75,000 point offer try a different browser, try a different computer, try to clear your cookies, or try to do “private browsing,” all of which seem to do the trick. Heck, try your iPhone.
How should I fill out the application?
You don’t have to be an incorporated business with a tax ID to apply. You can apply as a sole proprietorship, and you can enter your name as your business name (or anything else you’d like). For the tax ID you can enter your social security number. A lot of people are thrown off by how to do that, given the way the application “chunks” the numbers. Just enter the first two digits of your social security number in the first field and the last seven digits in the second field.
How hard is it to get approved for this card?
Funny enough I had a post set up to publish yesterday (which I’ve now delayed) about how anecdotally I find American Express charge cards to be the single easiest “mainstream” cards to be approved for. It’s worth noting that both this and the personal Premier Rewards Gold Cards are charge cards. This means that you have to pay your balance in full each month. Obviously this is lower risk for the card issuers since they don’t carry the risk of you carrying a balance on a maxed out card for months.
Therefore I’ve found even those without long credit histories are having no trouble getting approved for this card. I had a 19 year old reader email me today that had no problems getting approved, for what it’s worth.
I’m between credit card “churns” — should I still apply?
A lot of people apply for credit cards every X number of days (be it 90 days, 120 days, or something else). The idea is that by applying for multiple cards on a single day you get to apply for multiple cards without having any of those inquiries show up on the credit score when any of the applications are being processed. While that’s a good strategy, I think a bit too much emphasis is placed on it at times. Applying for a card gives you a temporary credit score hit of a couple of points, and that won’t be the difference between an approval and a denial. This deal is too good to pass up, and if anything it’s worth pushing up a churn to take advantage of this. If you’re wanting to sign up for some other small business credit cards, the Ink Plus® Business Credit Card and Ink Bold® Business Charge Card are still offering 50,000 Ultimate Rewards points after spending $5,000 within three months, which is also a great deal. And given that they’re Chase business cards, they’re an excellent way to “diversify” where you’re picking up new business credit.
I applied and my card status is pending — what should I do?
Don’t worry, just because you didn’t get an instant approval doesn’t mean you’ll be denied. You can either wait it out, or I’d recommend calling up the American Express application line at (877) 399-3083. While Chase has legitimate credit analysts at their reconsideration line, the American Express line is staffed by outsourced agents that simply push the application through. Therefore you won’t be asked any questions. I had several family members apply under this offer and two of them weren’t instantly approved. Both called the application line and after being placed on hold for less than a minute were approved, without even having to answer any questions.
I applied under the 50,000 point offer in the past, will they match this better offer?
Back in the day American Express would match just about any better sign-up bonus if you had applied under a lesser bonus. Unfortunately they seem pretty strict nowadays, and based on the reports I’ve seen from the past couple of days, everyone is getting shot down. So if you signed up under the 50,000 point deal (which was already a really good deal), it appears as if you’re out of luck, unfortunately.
Anyway, if anyone has any other questions, let me know below!