Amex just launched a 75,000 sign up bonus for their Gold Rewards Business card. Unfortunately, they put a hefty $10,000 min spend in 4 months on this offer, which will deter quite a few from signing up for this card (especially the credit card churners).
The card itself is pretty good in my opinion, especially if you own a small business. First, you earn bonus points by category:
3 x points on airfare
2 x points on gas, advertising, and shipping
1 x points on everything else
Amex points are pretty valuable as you can transfer them to airline miles in a number of programs. The foremost program being Delta SkyMiles. Another popular option is British Airways Avios miles. Here is a list of 2012 airline transfer partners.
What’s even better is that Amex frequently runs transfer bonuses, in fact they had a 50% Avios bonus that ended on May 29th. Hence, if you earn the 75K + 10K (from spend) = 85K x 1.5 = 127,500 Avois miles. Most people value Avois miles at 1 cent/mile, so you would be earning $1,275 from this offer!
Let’s not forget that Amex also runs a lot of social media promos on FaceBook, Twitter, and Foursquare like this one on Twitter I mentioned where you can earn statement credits between $5 and $50 at various times throughout the year. In addition, Amex has some very favorable benefits as a cardholder including secondary car rental insurance, 90-day purchase protection, and extended warranty.
This is the same offer that I signed up for in November, and so far I have really enjoyed the card. It was a hard climb getting to the $10,000 spend requirement, but I now have 95K points sitting in my account waiting for a favorable transfer bonus to be announced! The only drawback was that Amex called me several times after I signed up asking for detailed information about my business like how many employees I had, annual revenue, monthly spend by category, travel patterns, etc. It was fairly painless, but still I don’t generally enjoy talking to agents on the phone.
Offer ends June 26th.
Sign up here.