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forum threadOrangePickle8757 posted Nov 05, 2023 10:47 PM
forum threadOrangePickle8757 posted Nov 05, 2023 10:47 PM

American Express Business Checking $500

$500

American Express Giftcards
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Amex increased their bonus offer for business banking to 50k points for 5k deposits.

YMMV Combine with platinum business credit cards 150k points for $15k purchase for extra 20k bonus. Total = 220k bonus points.

Targeted Offer for business checking + business platinum:
https://www.americanexpress.com/en-us/campaigns/small-business/business-platinum-card-business-checking/

https://www.americanexpress.com/e.../checking/
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Community Notes
About the Poster
Amex increased their bonus offer for business banking to 50k points for 5k deposits.

YMMV Combine with platinum business credit cards 150k points for $15k purchase for extra 20k bonus. Total = 220k bonus points.

Targeted Offer for business checking + business platinum:
https://www.americanexpress.com/en-us/campaigns/small-business/business-platinum-card-business-checking/

https://www.americanexpress.com/e.../checking/

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20 Comments

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Nov 06, 2023 12:04 AM
3,381 Posts
Joined Mar 2005
JL5Nov 06, 2023 12:04 AM
3,381 Posts
Where are you getting a $500 valuation in your subject line??
Pro
Nov 06, 2023 12:10 AM
281 Posts
Joined Aug 2007
ice935
Pro
Nov 06, 2023 12:10 AM
281 Posts
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.
Nov 06, 2023 12:14 AM
98 Posts
Joined Nov 2010
thepg12Nov 06, 2023 12:14 AM
98 Posts
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
Nov 06, 2023 12:16 AM
3,381 Posts
Joined Mar 2005
JL5Nov 06, 2023 12:16 AM
3,381 Posts
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 05:24 PM.
Nov 06, 2023 12:26 AM
3,381 Posts
Joined Mar 2005
JL5Nov 06, 2023 12:26 AM
3,381 Posts
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.

Original Poster
Nov 06, 2023 12:36 AM
38 Posts
Joined Jul 2023
OrangePickle8757
Original Poster
Nov 06, 2023 12:36 AM
38 Posts
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
Nov 06, 2023 12:46 AM
26,496 Posts
Joined May 2006
namlookNov 06, 2023 12:46 AM
26,496 Posts
What type of verification of a business does Amex require?

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Nov 06, 2023 01:57 AM
98 Posts
Joined Nov 2010
thepg12Nov 06, 2023 01:57 AM
98 Posts
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 04:50 AM.
Nov 06, 2023 02:50 PM
5 Posts
Joined Jan 2020
MellowWinter7966Nov 06, 2023 02:50 PM
5 Posts
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
Nov 06, 2023 03:00 PM
293 Posts
Joined Jan 2011
deal15220Nov 06, 2023 03:00 PM
293 Posts
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
Nov 06, 2023 11:44 PM
3,381 Posts
Joined Mar 2005
JL5Nov 06, 2023 11:44 PM
3,381 Posts
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!




Nov 07, 2023 02:55 PM
1,443 Posts
Joined Jun 2006
mcali786Nov 07, 2023 02:55 PM
1,443 Posts
I see the offer in OP so it open to everyone who is Amex member or invite only?
Nov 08, 2023 12:05 AM
360 Posts
Joined Aug 2017
FreedomDealsNov 08, 2023 12:05 AM
360 Posts
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
Original Poster
Nov 09, 2023 01:34 AM
38 Posts
Joined Jul 2023
OrangePickle8757
Original Poster
Nov 09, 2023 01:34 AM
38 Posts
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.

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Nov 09, 2023 03:22 AM
360 Posts
Joined Aug 2017
FreedomDealsNov 09, 2023 03:22 AM
360 Posts
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

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