$250 from American Express Gold Rewards Card
In case you haven’t heard, the American Express Business Gold Rewards card is offering 25,000 bonus points, redeemable for a $250 store gift certificate or a free plane ticket. Alternatively, you can trade the points in for a statement credit.
Simply apply for the card, get approved, and use it before 12/31/2007. The points should appear in in your account within 6-8 weeks.
A couple of things…
No, you don’t have to have an actual business to get this card. Simply use your name as the business name and use your SSN instead of entering a Federal Tax ID Number.
Yes, there is an annual fee, but it’s waived for the first year.
Click here to apply.
Published on June 22nd, 2007 - 11 Comments
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That sounds like a good deal. I just got the same offer in the mail with a huge fat application to let me know how very special I am … so special, in fact, that they were willing to give me this deal for an annual fee of just $250 — or was it $400? Either way, I realized I could just *buy* the plane ticket instead!
Comment by Susanna a.k.a. Cheap Like Me — Jun 22nd 2007 @ 4:23 pmIn order for these “ploys” from the credit card companies to work in your favor, one needs to pay the charged amount in full faithfully when the bill comes.
Credit card companies offer these incentives hoping that as an average debt holder you will just pay the minimum. By doing what these companies ant you to do, the interest they get from you usually exceeds the value of your gift.
Pay your balance in full everytime and your free gifts will actually be free.
Comment by Rogers Place — Jun 23rd 2007 @ 11:17 pmRogers Place, you’re absolutely right… If you follow the rules, you can get your hands on a bunch of free stuff.
Hi Nickle,
The only problem with this plan is that most people aren’t smart about paying off their balances. Its a good idea, but statistically speaking most people can’t “follow the rules”.
Best,
James
Comment by James — Jun 24th 2007 @ 11:43 pmJames: Nobody says you have to run up a balance… Theoretically, you could just use the card for a minor purchase, pocket the reward, and then pay off the small balance and be done with it.
Here is how I understand the 25,000 reward bonus points, from AmEx’s website (in addition to the one point you earn for each dollar spent):
“The Business Gold Rewards Card rewards you every year with bonus points for your spending:
5,000 bonus points when you spend $20,000 in a year
20,000 additional bonus points when you spend $50,000 in a year”
Doesn’t sound like such a sweet deal to me.
Comment by Pam — Jun 25th 2007 @ 2:45 pmPam, you’re mistaken. You get 25k points with your first purchase. Here’s the scoop straight for the application form:
“Upon the Basic Cardmember’s first purchase, a one time bonus of 25,000 points can be earned toward the Basic Business Gold Rewards Cardmember’s Membership Rewards® account and may appear as separate credits of 5,000 and 20,000 bonus points.”
How much of a statement credit will 25,000 points get you?
Comment by Patrick Szalapski — Jun 26th 2007 @ 12:39 pmI also find this too good to believe. With the verbage “25,000 points _can_ be earned,” it sounds like there’s a qualifier in small print somewhere.
Comment by Joan — Jun 28th 2007 @ 2:04 pmJoan, the “can” refers to the fact that you won’t get the bonus points in return for a cash advance, balance transfer, or the like. You need to make an actual purchase.
I applied for this card and did indeed get the reward. The 25,000 points showed up only a couple of weeks after my first purchase. They say you can get 1 free round trip domestic airline ticket, but I found that if you convert the points into Continental airline miles, you can get two round trip tickets for free, an $800 dollar value. this was well worth it.
Comment by James — Nov 5th 2007 @ 12:59 pm