Update: The special welcome offer for the The Blue Business℠ Plus Credit Card from American Express has expired, but you can learn more about best available offers here.
I’ve enumerated the reasons you should consider applying for The Blue BusinessSM Plus Credit Card, which is one of the hottest new credit cards in the market. The card has no annual fee, accrues Membership Rewards points that can be transferred to airline and hotel partners, and most valuable of all, it offers 2x Membership Rewards points per dollar on the first $50,000 spent annually.
The way I see it, that makes this card the single most lucrative credit card for non-bonused spend.
The Blue Business Plus Credit Card is a business card, though you don’t need to be incorporated or have hundreds of thousands of dollars in business revenue to apply for a business card. There are plenty of reasons to apply for a business card, and I find that Amex is among the more eager issuers to work with small businesses. This is the case whether you’re just starting your business, whether you just have a side business with limited revenue, or whether you want to separate your business and personal expenses.
If you look at the application for the Blue Business Plus Credit Card, you’ll see that it asks you the following questions about your business:
- Legal Business Name
- Business Address & Phone Number
- Industry Type
- Company Structure
- Years In Business
- Number Of Employees
- Annual Business Revenue
- Estimated Monthly Spend
- Federal Tax ID
If you’re a sole proprietorship, how should you approach this? First of all, and most importantly, answer everything truthfully. I think the concern that a lot of people have is that they think they need an incorporated business, a separate office, etc., in order to be considered for a business card. That’s not the case:
- You can use your name as your legal business name
- The business address and phone number can be the same as your personal address and phone number
- You can select “other” as your industry type, if that’s the case
- If you’re a sole proprietorship, you can select that as your company structure
- In terms of years in business, there’s no shame in saying it has been less than a year, 1-2 years, etc.
- In terms of the number of employees, saying just ons is perfectly fine
- For the federal tax ID you can put your social security number
While a lot of people are intimidated by applying for their first business card, I think most are pleasantly surprised at the results. Again, the most important thing is to always be truthful on the application.
Lastly, keep in mind that if you’re an existing Amex cardmember and get denied, it typically won’t be reported to credit bureaus. That’s because Amex uses existing customer data to conditionally approve people for credit cards, and only after conditional approval do they pull your credit score, to see if anything major has changed.
Even if you’ve never had a business card before, the Blue Business Plus Credit Card is a great one with which to start.