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A couple of days ago I wrote about how I can finally get The Blue Business℠ Plus Credit Card from American Express. I used to be at the limit for how many American Express credit cards you can have, though I finally canceled a card, meaning I once again have the ability to apply for another Amex card.
This is a card that has been on my radar since it was introduced last year, as it’s the single most lucrative credit card for non-bonused spend. The Blue Business Plus Credit Card has no annual fee, and offers 2x Membership Rewards points on the first $50,000 spent annually. That’s an amazing return, and it’s a nice way to quickly rack up more Membership Rewards points.
When American Express first introduced the card, it had a sign-up bonus of 20,000 bonus points after completing minimum spend. However, they pulled that sign-up bonus within a couple of weeks, and we haven’t seen a public, published sign-up bonus on the card since then. It seems to me that’s quite intentional, given that the card is so generous, so they don’t need a sign-up bonus to lure people in.
Several of you asked whether I think we’ll see another sign-up bonus on the card, and asked if I’m waiting for them to introduce one before applying. My take on that is as follows:
- I doubt we’ll see another public sign-up bonus on the card anytime soon, though with Amex you never really know; if nothing else, sometimes they have targeted offers
- While I’d love for the card to have a sign-up bonus, I’m applying even though it doesn’t, and don’t feel bad about it at all
Why am I applying in spite of the lack of a sign-up bonus? Because the way I see it, there are cards that I want to get at some point, and then there are cards where I’m actively missing out on value by not having them.
Based on my current credit card portfolio, the best return on non-bonused spend that I get with any card is on the Amex EveryDay® Preferred Credit Card from American Express, as it offers up to 1.5x Membership Rewards points per dollar spent. Given that I make $50,000 of non-bonused purchases per year, the direct opportunity cost to not having the Blue Business Plus Credit Card is 25,000 Membership Rewards points per year (we’re talking about earning 100,000 points vs. 75,000 points). That 25,000 point difference is more than the sign-up bonus you’d get on the card.
Some will certainly wait for a sign-up bonus to apply for the Blue Business Plus Credit Card. While I wish those people luck and really hope Amex does bring back a sign-up bonus on the card, for me the opportunity cost of waiting is too high.