One of American Express‘ most lucrative long standing promotions is Small Business Saturday, whereby American Express card members can register to receive a statement credit for purchases made at small businesses on the Saturday after Thanksgiving (which this year is November 29, 2014).
The promotion started in 2010, and for the first three years American Express would offer a $25 statement credit per card account. Then last year they reduced the credit to $10 per card card. That was still a nice bonus, though at the same time some people were frustrated by the fact that it dropped by 60% from one year to the next.
We’re now finding out the first details of this year’s Small Business Saturday promotion, and it has the potential to be lucrative.
The terms & conditions of the 2014 Small Business Saturday promotion have now been published, and it looks like this year it will be possible to get three $10 statement credits per card:
Limit three (3) $10 statement credits per eligible American Express Card. To receive the offer, Card Members must register any eligible American Express Card for this offer. Corporate Cards and all prepaid Card products (other than American Express Serve® and Bluebird®) are not eligible.
To receive the $10 statement credit, the Card Member must use his or her registered Card to spend $10 or more in a single, in-store transaction at a qualifying small business location on Saturday, Nov 29, 2014. For example, if your transaction is only for $5, you will not receive a credit . Multiple transactions of less than $10 will not qualify even if the combined total of those transactions is over $10. You may purchase multiple items that together equal $10 or more, but you must purchase them in a single transaction to receive the state ment credit. Online transactions do not qualify.
While it’s not possible to get a $25 statement credit with a single purchase, if you maximize the bonus you can get $30 worth of statement credits — it just requires a bit more work than in past years. If I’m reading the rules correctly, the three transactions don’t have to be at separate retailers — as long as you make three separate transactions, they should all qualify for reimbursement.
What’s also interesting is that this year American Express Serve and Bluebird Cards are eligible, which wasn’t previously the case.
I’ll post a reminder when registration opens on November 16, 2014. It should remain open through November 29, 2014 (which is Small Business Saturday), unless the registration limit is reached sooner.
Will you be taking advantage of this year’s Small Business Saturday?
(Tip of the hat to Mommy Points)