American Express Business Checking $500

JL5

Nov 6, 2023 12:04 AM

3.4K Comments

Joined Mar 2005

JL5Nov 6, 2023 12:04 AM

3.4K Comments

Where are you getting a $500 valuation in your subject line??

ice935

Nov 6, 2023 12:10 AM

283 Comments

Joined Aug 2007

ice935Nov 6, 2023 12:10 AM

283 Comments

Quote from JL5

:

Where are you getting a $500 valuation in your subject line??

You get 50k points which is equivalent. This is actually a pretty good deal considering no fees. Just signed up for it. Also Amex has a nice tracker on the right hand side for everything showing you exactly when you meet the requirements.

1

thepg12

Nov 6, 2023 12:14 AM

98 Comments

Joined Nov 2010

thepg12Nov 6, 2023 12:14 AM

98 Comments

Has been 60k in the past, 30k the past month or so. Unfortunately I don't think you can take advantage of this if you have a personal checking account with them which a lot of people signed up for for the $250 deposit bonus

1

JL5

Nov 6, 2023 12:16 AM

3.4K Comments

Joined Mar 2005

JL5Nov 6, 2023 12:16 AM

3.4K Comments

Quote from ice935

:

You get 50k points which is equivalent. This is actually a pretty good deal considering no fees. Just signed up for it. Also Amex has a nice tracker on the right hand side for everything showing you exactly when you meet the requirements.

Ok, I guess some value MR points @ .01 cent apiece. Some even value them @ .02 cents apiece. If you follow the Points Guy, he finds a unicorn around every corner of the world for points and can find value of .02 cents each.

Personal experience, it's very hard to get more than .005 or .007 cents out of a MR point when redeemed for Travel benefits (ex. Flight, hotel, etc...)

Last edited by JL5 November 5, 2023 at 04:24 PM.

JL5

Nov 6, 2023 12:26 AM

3.4K Comments

Joined Mar 2005

JL5Nov 6, 2023 12:26 AM

3.4K Comments

Quote from thepg12

:

Has been 60k in the past, 30k the past month or so. Unfortunately I don't think you can take advantage of this if you have a personal checking account with them which a lot of people signed up for for the $250 deposit bonus

Did you see any restrictive language that would make one not eligible to open a Business Checking Account if they opened a prior Personal Checking Account??

Usually, those are two very quite distinctive types of accounts and one should not affect the other. Again, usually from other bank bonus's and waiting periods.

OrangePickle8757

Original Poster

Nov 6, 2023 12:36 AM

38 Comments

Joined Jul 2023

OrangePickle8757

Original Poster

Nov 6, 2023 12:36 AM

38 Comments

Quote from JL5

:

Where are you getting a $500 valuation in your subject line??

If you have amex business platinum credit card, you can redeem amex reward point into your business checking at 1pt= 0.01 cent.

1

namlook

Nov 6, 2023 12:46 AM

26.7K Comments

Joined May 2006

namlookNov 6, 2023 12:46 AM

26.7K Comments

What type of verification of a business does Amex require?

thepg12

Nov 6, 2023 1:57 AM

98 Comments

Joined Nov 2010

thepg12Nov 6, 2023 1:57 AM

98 Comments

Quote from JL5

:

Did you see any restrictive language that would make one not eligible to open a Business Checking Account if they opened a prior Personal Checking Account??

Usually, those are two very quite distinctive types of accounts and one should not affect the other. Again, usually from other bank bonus's and waiting periods.

I didn't see any language but read about it elsewhere. I don't think it's a hard pull to open business checking so probably no harm in trying to open an account even if you have a personal.

Edit: I tried signing up just for the hell of it, got declined. Didn't give me a specific reason but I assume because of the personal checking account I have with them.

Last edited by thepg12 November 6, 2023 at 03:50 AM.

1

MellowWinter7966

Nov 6, 2023 2:50 PM

6 Comments

Joined Jan 2020

MellowWinter7966Nov 6, 2023 2:50 PM

6 Comments

Quote from JL5

:

Did you see any restrictive language that would make one not eligible to open a Business Checking Account if they opened a prior Personal Checking Account??

Usually, those are two very quite distinctive types of accounts and one should not affect the other. Again, usually from other bank bonus's and waiting periods.

Yes,if you read the fine print under the apply now button it says not eligible for personal checking members

1

deal15220

Nov 6, 2023 3:00 PM

293 Comments

Joined Jan 2011

deal15220Nov 6, 2023 3:00 PM

293 Comments

Applied and Rejected .. as I had personal checking account(closed) in the past. You can have only 1 account wiht them.. even its closed

1

JL5

Nov 6, 2023 11:44 PM

3.4K Comments

Joined Mar 2005

JL5Nov 6, 2023 11:44 PM

3.4K Comments

Quote from deal15220

:

Applied and Rejected .. as I had personal checking account(closed) in the past. You can have only 1 account wiht them.. even its closed

Good Data Points for others

Quote from MellowWinter7966

:

Yes,if you read the fine print under the apply now button it says not eligible for personal checking members

Thanks for pointing that out. Good Info for others!

mcali786

Nov 7, 2023 2:55 PM

1.5K Comments

Joined Jun 2006

mcali786Nov 7, 2023 2:55 PM

1.5K Comments

I see the offer in OP so it open to everyone who is Amex member or invite only?

FreedomDeals

Nov 8, 2023 12:05 AM

360 Comments

Joined Aug 2017

FreedomDealsNov 8, 2023 12:05 AM

360 Comments

do you need amex credit card to get this? or can I use the 50k points without it and can I just cash out to bank or something please help

OrangePickle8757

Original Poster

Nov 9, 2023 1:34 AM

38 Comments

Joined Jul 2023

OrangePickle8757

Original Poster

Nov 9, 2023 1:34 AM

38 Comments

Quote from FreedomDeals

:

do you need amex credit card to get this? or can I use the 50k points without it and can I just cash out to bank or something please help

You do not need an amex credit card to apply for business banking. You only need ein or ssi if you are self-employed. Amex reward point redemption into business banking is only 1points=.75 cent. If you have business platinum, then 1 points=1 cents. Most people use amex reward points for travel because the redemption value is greater than 1point=1cents.

FreedomDeals

Nov 9, 2023 3:22 AM

360 Comments

Joined Aug 2017

FreedomDealsNov 9, 2023 3:22 AM

360 Comments

Quote from OrangePickle8757

:

You do not need an amex credit card to apply for business banking. You only need ein or ssi if you are self-employed. Amex reward point redemption into business banking is only 1points=.75 cent. If you have business platinum, then 1 points=1 cents. Most people use amex reward points for travel because the redemption value is greater than 1point=1cents.

is there a cashout option? so basically for those who dont have the $700 AF plat card this is only $375 bonus, which kind of sucks as 5% interest of $5k is like $40 so its really around $335 really. OP needs disclaimers

American Express Business Checking $500

$500

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