An interesting quirk in the new Amex sign-up rules we missed, and other updates

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There has been a lot to digest about the new American Express sign-up bonus rules in the last few days.  Apart from everything we have discussed so far – see here and here – there was something I missed.

For one group of people, getting a new American Express sign-up bonus just got easier.

These are people who currently have Amex Gold Business or Amex Platinum Business.

American Express Gold Business sign-up rules

Why is life easier for Amex Business cardholders?

Under the old rules, all of the cards which offered Membership Rewards points (Green, Gold, Platinum, Gold Business, Platinum Business, Amex Rewards) were lumped together.  If you had one of these cards, you couldn’t get a bonus on another one until you had cancelled it and waited six months.

Under the new rules, this family has been broken up.  Instead, two new families have been created between the personal American Express cards and the small business American Express cards.

Let me explain what this means.  Under the old rules, if you had a Gold Business or Platinum Business Amex card, you were blocked from getting the sign-up bonus on a personal Gold, Green, Platinum or Amex Rewards card.

This is no longer the case:

The rule for personal Gold, personal Green and Amex Rewards now says “I understand I will not be eligible for the Welcome Bonus award if I hold or have held any personal American Express Card in the past 24 months”.  There is no mention of small business cards.

Similarly, the rule for personal Platinum now says “I understand I will not be eligible for any Welcome Bonus award if I hold or have held any personal Membership Rewards-enrolled American Express Cards in the past 24 months”.  There is no mention of small business cards.

Amex Platinum Business sign up bonus

Which means in plain English …..

This means that if you have Amex Gold Business or Amex Platinum Business, you can now apply for Preferred Rewards Gold, The (personal) Platinum Card or the Amex Rewards Credit Card.  The only caveat is whatever other personal Amex cards you have had in the last 24 months.

If you are an Amex Gold Business or Amex Platinum Business cardholder who has not held any personal Amex cards in the last 24 months, you can literally apply for any personal Amex card you want – immediately, with no need to close your Business card – and get the sign-up bonus.  None of the bonus rules on personal cards make any reference to Small Business cards.

Note that this method does not work in reverse.  The rules for applying for the Amex Business cards remain unchanged:

if you have had a personal Green, Gold, Platinum or Amex Rewards card, or a Gold Business or Platinum business card, in the previous six months then you CANNOT get a sign-up bonus on Gold Business or Platinum Business

if you have NOT had a personal Green, Gold, Platinum or Amex Rewards card, or a Gold Business or Platinum business card, in the previous six months then you CAN get a sign-up bonus on Gold Business or Platinum Business

You can learn more about Amex Gold Business in this HFP article.  You can learn more about Amex Platinum Business in this article.

You obviously need to meet the American Express definitions of having a qualifying small business before you can apply, but these are relatively generous.

An update on our article yesterday

We ran article yesterday entitled “Should you leave American Express for 24 months until you can get a new sign-up bonus?“.

Readers picked up on a couple of other issues to consider.  I edited these into the main article early on Saturday morning but if you read it by email you will have missed them.

Here are the two points I added:

“And you need an Amex to pay the taxes on your 2-4-1 tickets ….

Remember that you need to pay the taxes when you redeem a British Airways 2-4-1 voucher using an American Express card.  Despite what the rules say, it doesn’t need to be a BA Amex and it doesn’t need to be in your name (Amex does not check names as part of its card verification) but you WILL need access to an American Express.”

and

“Finally, do the Amex cashback offers have value to you?

Most of us have save £100+ per year via the cashback offers added to our Amex card statements.  You should factor the loss of those savings into your calculations.”

(Want to earn more miles and points from credit cards?  Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)

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Comments

  1. Ronster says:

    Hi New Bee

    Can you be a little bit more specific regarding how the Clubcard points, through Tesco are earned?

    Thanks

    Ronster

  2. Are there any points (BA or Amex etc.)that can convert to Golden Circle (Shangri-la)?

  3. The updated main review of the Platinum card states that you will not get the sign up bonus for personal Platinum Amex if you’re receiving MR points in a Corporate Platinum
    card, but this one doesn’t reference that restriction.

    Which is correct?

    Thanks.

  4. Do you still get the first year free on the gold card? Does this mean they’ve created an incentive to churn just to avoid this fee?

  5. MrWorldWide says:

    Rob, All, I’ve really value your advice if I own a ltd company and have never had an MR rewards earning card (only amex costco and BA premier plus) is a sensible plan: Plat Amex via the business, reach sign up bouns and get pro rata refund when cancelling, plat amex in personal name, get pro rata refund when cancelling after reaching sign up bonus and then wait 6 months and apply back in the name of the ltd company again? Grateful for your thoughts on strategy and application order…

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