Can use your own SSN and yourself as a business name if you don't have one. $250 credit will be issued to card after first purchase made between 3/1 and 6/30/06.
If you don't get approved right away, check here for app status.
There are some cash rebates (credited in Feb. each year) for this card, but they're not all that hot compared to other cards, such as the Citi Dividend Select AMEX. Here's the schedule:
Cash Rebate There is no limit to the amount of cash rewards you can earn. Your rebate on a specific purchase is determined by (1) whether the merchant participates in OPEN SavingsSM and (2) your total annual spend to date as of the day the purchase is made. Rebates are calculated on a monthly basis and awarded annually. The rebate applies to purchases but not to cash advances, returned purchases, balance transfers, and purchases of American Express® Travelers Cheques, for example. The following table illustrates how the rebate percentage is determined for each eligible purchase:
Earn 1% at OPEN Savings participants or 0.5% on all other purchases when your year–to-date spend is $0-$20,000 Earn 5% at OPEN Savings participants or 2.5% on all other purchases when your year-to-date spend is $20,000.01-$120,000 Earn 1% at OPEN Savings participants or 0.5% on all other purchases when your year-to-date spend is more than $120,000
For more information on OPEN partner savings see this link.
OOPS, forgot to add, NO ANNUAL FEE. Also, this is a normal revolving credit card, not the usual pay-in-full-every-month type of AMEX card. 0% APR for first 6 months, then 16.74%. Not that that makes any difference to the savvy FW shopper who always pays in full.
Mad props to B$ Finance forum for the info.
Update: If interested, you can also apply for the Business Gold Rewards card here, and the annual fee is waived for the first year. This one also has the $250 credit after first purchase. So you can get both cards for an easy $500!
Update2: Dead unless you call and get a friendly CSR at AMEX Small Business to look up the offer for you. Apparently requires an offer code (which no one has now) and a Federal Tax ID (not SSN). You're welcome to everyone who gave thanks for the OP! I was just a humble reposter of this great offer...
We are reviewing your application for Platinum Business Premium Cash Rebate Card. We will advise you of your application status by mail or phone within 8 business days.
tjankk
Member
posted: Mar. 27, 2006 @ 9:43p
I can't seem to find the APR for BT for this offer, any ideas?
"I understand that the annual fee is $300 for the Basic Card and $150 for each Additional Card."
that is for one card, each card has different fees. some are waived for the first year, others arent. Go to the main page, click on the credit card and click "learn more" and then in the upper right hand corner click "Apply Now" (orange box) and then scroll to the bottom and read TERMS AND CONDITIONS
Make sure it is the "Platinum Business Premium Cash Rebate Card"
EDIT: Every card is different: Platinum Business Premium Cash Rebate Card seems like the only one that is "safe"
Thanks, OP. The application form for each of the 4 AMEX cards offers the $250 credit after first purchase. There is no annual fee for the first year of the Business Gold Rewards card (plus 5000 rewards points with the first purchase). The Platinum Business card is $300/year, but $250 of that is covered (later) by the credit. (In effect, you can try out the Platinum Business card for $50 the first year!--That's hot!) The Delta card does NOT waive the annual fee for the first year, but again, the credit more than covers that first year (plus 15,000 points with the first purchase).
One difference about these applications is that none of them offer the option of the short application form usually available for some current cardholders (depending on which cards you have).
Beware the dreaded Financial Review if you greedily apply for too many of these at once!
Platinum Business Premium Cash Rebate Card -- got this same offer in the mail a few weeks ago, it is a very good deal for a couple reasons. First you get the $250 up front (with 1st purcahse), so you don't need to use the card much to get the reward. And if you do intend to spend a lot, the card also has the better tier structure (the "Premium" one), which averages out to 1.5% overall at the $40,000 level, and tops out around 2.1667% overall if you spend exactly $120,000. Very good for big business spenders who can use AMEX with vendors.
I applied for the card back in December, but they offered at 5% bonus for 3 months which maxed at $300 (thus requiring you to actually spend $6000 in that time to get that reward).
Federal Tax ID - (If left blank, we will assume you are a Sole Proprietorship) By providing your Tax Identification Number (TIN), you can improve your chances of getting a 60-second decision. If you leave this field blank, you will be asked to provide your TIN at a later date in order to comply with Federal law.
"(f) REPRESENT THAT THE CARDS WILL BE USED FOR COMMERCIAL OR BUSINESS PURPOSES. I understand that the agreement governing the Account includes an arbitration provision, which impacts my opportunity to have claims related to the Account heard in court or resolved by a jury, and to participate in a class action or similar proceeding."
GTFan said: Also, this is a normal revolving credit card, not the usual pay-in-full-every-month type of AMEX card. 0% APR for first 6 months, then 16.74%. Not that that makes any difference to the savvy FW shopper who always pays in full.
What is a revolving credit card? Any catch?
imwise1
Addicted Member
posted: Mar. 28, 2006 @ 9:00a
qnju said: GTFan said: Also, this is a normal revolving credit card, not the usual pay-in-full-every-month type of AMEX card. 0% APR for first 6 months, then 16.74%. Not that that makes any difference to the savvy FW shopper who always pays in full.
What is a revolving credit card? Any catch?
Revolving Credit Card An unsecured loan that provides you with a line of credit against which you may borrow. All you have to do is present your credit card to the merchant when purchasing an item and sign the sales slip (be sure to get your card back and a copy of the sales slip).
You may make more than one purchase, up to your credit limit which is the maximum amount of credit available to you. Interest is charged only on the amount of credit you use and it's added to your balance on a monthly basis. You repay a portion of the total balance each month. MasterCard, Visa, Discover Card, and many store credit cards fall into this category. This type of card is excellent for purchases that you want to repay over an extended period of time.
Non-Revolving Credit Card This card works on the same principals as a revolving-type credit card, but the total balance must be repaid every month. Examples of this kind of card include American Express, Diners Club and most Oil Company Credit Cards. You should use this type of card for expenses or purchases you want to repay within 30 days.
Bonus of $250 applies to first purchase made between March 1 and June 30, 2006, and will appear as a statement credit on your Card Account. The maximum discount available is $250 per Card Account
Note this $250 applies to the fist purchase - does this mean that they will take up to $250 off just one purchase? Just want to make sure that the "credit" isn't just a one time refund for whatever amount of your first purchase.
imwise1 said: qnju said: GTFan said: Also, this is a normal revolving credit card, not the usual pay-in-full-every-month type of AMEX card. 0% APR for first 6 months, then 16.74%. Not that that makes any difference to the savvy FW shopper who always pays in full.
What is a revolving credit card? Any catch?
Revolving Credit Card An unsecured loan that provides you with a line of credit against which you may borrow. All you have to do is present your credit card to the merchant when purchasing an item and sign the sales slip (be sure to get your card back and a copy of the sales slip).
You may make more than one purchase, up to your credit limit which is the maximum amount of credit available to you. Interest is charged only on the amount of credit you use and it's added to your balance on a monthly basis. You repay a portion of the total balance each month. MasterCard, Visa, Discover Card, and many store credit cards fall into this category. This type of card is excellent for purchases that you want to repay over an extended period of time.
Non-Revolving Credit Card This card works on the same principals as a revolving-type credit card, but the total balance must be repaid every month. Examples of this kind of card include American Express, Diners Club and most Oil Company Credit Cards. You should use this type of card for expenses or purchases you want to repay within 30 days.
Thanks for this details. I think if I pay my balance in full every month, I won't incur any interest whether it is a Revolving Credit Card or not.
ukguy78
Member
posted: Mar. 28, 2006 @ 9:54a
DamnoIT said: Bonus of $250 applies to first purchase made between March 1 and June 30, 2006, and will appear as a statement credit on your Card Account. The maximum discount available is $250 per Card Account
Note this $250 applies to the fist purchase - does this mean that they will take up to $250 off just one purchase? Just want to make sure that the "credit" isn't just a one time refund for whatever amount of your first purchase.
That's a very good point. The "maximum discount available is $250 per Card Account" leads me to believe this could be the case, which would suck if your first purchase was a $3.99 value meal at McDonalds.
I believe the 'maximum discount available' of $250 means you can't take advantage of other promotions. On the front page it says "$250 Statement Credit with First Purchase." It doesn't say "up to", leading me to believe that you will be credited the full $250... The fine print on the application I just interpret as they will not give you another promotion on top of the $250.
lijasen
Member
posted: Mar. 28, 2006 @ 10:53a
By providing your Tax Identification Number (TIN), you can improve your chances of getting a 60-second decision. If you leave this field blank, you will be asked to provide your TIN at a later date in order to comply with Federal law.
What is the Federal Tax ID? I'm a student.I don't think I have a Federal Tax ID, right?
lijasen said: By providing your Tax Identification Number (TIN), you can improve your chances of getting a 60-second decision. If you leave this field blank, you will be asked to provide your TIN at a later date in order to comply with Federal law.
What is the Federal Tax ID? I'm a student.I don't think I have a Federal Tax ID, right?
No, not unless you own a business and have filed (something) w/ the gov't.
Other FW'ers, help me out here.
novel20
New Member
posted: Mar. 28, 2006 @ 11:16a
Hi, the address line is so short and I can't even put my full address in.
Any suggestion?
dogmatixpsych
Thrifty Member
posted: Mar. 28, 2006 @ 11:18a
jones77 said: What are you entering for this
Federal Tax ID - (If left blank, we will assume you are a Sole Proprietorship) By providing your Tax Identification Number (TIN), you can improve your chances of getting a 60-second decision. If you leave this field blank, you will be asked to provide your TIN at a later date in order to comply with Federal law.
Are they going to hassle me later?
Where are you reading that "By providing your Tax Identification Number (TIN), you can improve your chances of getting a 60-second decision. If you leave this field blank, you will be asked to provide your TIN at a later date in order to comply with Federal law."
I don't see it anywhere. All I see is "Federal Tax ID - (If left blank, we will assume you are a Sole Proprietorship)"
I applied and it told me they would get back to me within eight days. I put in my business's federal tax ID number so I guess that's no guarantee of an instant response.
My business address wouldn't fit so I just took out some of the vowels. Actually my business name wouldn't fit on the card either.
Thanks, OP. Looks like a great deal.
Peter740
Greedy Member
posted: Mar. 28, 2006 @ 2:23p
I was approved instantly and I didn't put in a Business Tax ID number.. So I guess it depends on How AMEX approves it base on your credit score and income.
I was approved - although i do have a side business -
looking forward to the rewards and the $250 statement credit.
thanks again
welphd
Tired Member
posted: Mar. 28, 2006 @ 2:43p
It asks for fed tax iD.
karrapavan
New Member
posted: Mar. 28, 2006 @ 3:07p
Just called CSR, no minimum required on purchase.
Just applied, checked status, approved.
tholzer
Senior Member - 1K
posted: Mar. 28, 2006 @ 3:47p
We are reviewing your application for Platinum Business Premium Cash Rebate Card. We will advise you of your application status by mail or phone within 8 business days.
tholzer
Senior Member - 1K
posted: Mar. 28, 2006 @ 3:48p
I just applied for this card. I don't have a "small business". I do some small things for cash on the side. Does AMEX mind if someone signs up without a small business?
dvrice
Senior Member
posted: Mar. 28, 2006 @ 5:36p
I'm in.
I am an engineer, so if they would ask any questions I would just say I plan to do some consulting.
$250 is the best sign up bonus I have ever seen for a credit card. I will buy a $250 WalMart gift card as soon as I receive the card, then cancel the card after I receive the first statement.
Why would you cancel the card? If you get it, why not put it in a safe place and not use it? Does nothing but help your credit score
dvrice said: I'm in.
I am an engineer, so if they would ask any questions I would just say I plan to do some consulting.
$250 is the best sign up bonus I have ever seen for a credit card. I will buy a $250 WalMart gift card as soon as I receive the card, then cancel the card after I receive the first statement.
Anyone (sole proprietorship) receiving the check for credit balance having problem depositing that check in a personal account? What I mean to ask is if we need a business checking/savings account for cashing this check?
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
Members of our community may attach files to a post in accordance with the User Agreement. FatWallet is not responsible for the content, accuracy, completeness or validity of any information contained in any attached file. Files have *not* been scanned for viruses. Be especially wary of Excel files which may contain malicious content.
