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At the moment we’re seeing quite a few increased sign-up bonuses from American Express, including several increased bonuses on business cards. In this post I wanted to talk about the offers, the general advantages of applying for Amex business cards, and how to go about completing the application.
Increased Amex business card sign-up bonuses
At the moment we’re seeing the following new/increased sign-up bonuses on Amex business cards:
- The Starwood Preferred Guest® Business Credit Card from American Express is offering a sign-up bonus of 35,000 Starpoints after spending $7,000 within three months; the $95 annual fee is waived for the first year
- The Gold Delta SkyMiles® Business Credit Card from American Express is offering a sign-up bonus of 50,000 SkyMiles after spending $2,000 within three months, plus 10,000 additional SkyMiles after spending an additional $1,000 within six months, plus a $50 statement credit after making a Delta purchase within three months; the $95 annual fee is waived for the first year
- The Platinum Delta SkyMiles® Business Credit Card from American Express is offering a sign-up bonus of 70,000 SkyMiles plus 10,000 Medallion Qualifying Miles after spending $3,000 within three months, plus a $100 statement credit after making a Delta purchase within three months; the card has a $195 annual fee
- The Hilton Honors American Express Business Card is offering a sign-up bonus of 75,000 Honors points after spending $3,000 within three months, plus an additional 25,000 points after spending an additional $1,000 within six months; the card has a $95 annual fee
- The Blue Business℠ Plus Credit Card from American Express is offering a sign-up bonus of 10,000 Membership Rewards after spending $3,000 within three months; the card doesn’t have an annual fee
These are all fantastic bonuses for different reasons, and I know plenty of people are interested in getting some of the above cards, so let’s talk about the approval process.
The advantage of applying for Amex business cards
There are a few things worth knowing specifically about applying for Amex business cards. Anecdotally:
- Applying for Amex business cards doesn’t count towards Chase’s 5/24 limit; that’s because these applications typically aren’t reported on your personal credit report
- If you’re an existing Amex cardmember and apply for another Amex card, your credit won’t initially be pulled; this means that if you get a preliminary denial based on existing information, it won’t ding your credit score
- Among business credit cards, I find that Amex cards are significantly easier to be approved for than Chase or Citi cards
The restrictions on applying for Amex business cards
Amex’s general restrictions on applying for cards is as follows:
- You can have at most five Amex credit cards at any given point; it doesn’t matter whether they’re personal or business, and this limit doesn’t include charge cards (none of the above are charge cards)
- You can typically be approved for at most two American Express credit cards in 90 days, though there are some inconsistencies when it comes to that (again, this doesn’t include charge cards)
How to fill out an Amex business card application
Those who already have business credit cards are probably familiar with the application process, but for those who aren’t, here’s what you need to know. It can be intimidating to apply for your first business credit card, though even if you’re a small business or sole proprietorship, you should be eligible. When applying for an Amex business card, you’ll be asked the following questions:
- 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.
With the great sign-up bonuses we’re seeing on Amex business cards at the moment, there has never been a better time to apply for one of these cards:
- The Gold Delta SkyMiles® Business Credit Card from American Express and Platinum Delta SkyMiles® Business Credit Card from American Express are offering generous sign-up bonuses, and the Platinum version of the card can be especially useful if you’re going for status
- The Starwood Preferred Guest® Business Credit Card from American Express has a huge sign-up bonus and offers valuable perks for SPG stays, including Sheraton lounge access
- The Hilton Honors American Express Business Card is a new card that offers a big sign-up bonus and great ongoing perks, including Hilton Honors Gold status
Hopefully this is useful for anyone who hasn’t yet applied for an Amex business card.