Last year, American Express launched the biggest sign-up bonus ever seen in the UK for a payment card. It is currently back for a limited period.
When this offer came out last year, it didn’t just set a new record, it smashed it. The highest ‘open to all’ bonus I had ever seen in the last 20 years was a 60,000 points offer on American Express Platinum.
The current deal, on the Business Cards, is almost twice as generous. If you only sign up for one mileage promotion all year, this should be it.
The number of points involved is huge. If you’re not a business owner so don’t qualify to apply yourself, you should think seriously about any family members who have their own business and could sign up – or do your business-owning friends a favour and tell them about it.
The bonuses are on the two American Express Business Cards:
- American Express Business Platinum Card (apply here)
- American Express Business Gold Card (apply here)
American Express Business Platinum now has a sign-up bonus of 100,000 Membership Rewards points.
American Express Business Gold – which is free for a year – now has a sign-up bonus of 50,000 Membership Rewards points.
These are, clearly, huge sums.
The offer is valid for applications received by 31st March 2022.
What do I need to know?
It is important to know that American Express has raised the qualifying spend at the same time as raising the bonus.
- You need to spend £10,000 in three months to receive the 100,000 points on Business Platinum
- You need to spend £5,000 in three months to receive the 50,000 points on Business Gold
The offer is only available until 31st March 2022. At that point, the usual offers with lower spend thresholds – 20,000 points on Business Gold for spending £3,000 in three months, and 40,000 points on Business Platinum for spending £6,000 in three months – will presumably return.
What can I do with the bonus points?
For HfP readers, the key thing to note is that they convert at 1:1 into Avios and Virgin Points.
You can pick up 100,000 Avios if you convert the sign-up bonus on Business Platinum.
100,000 Membership Rewards points would also get you:
- 300,000 Radisson Rewards points
- 200,000 Hilton Honors points
- 150,000 Marriott Bonvoy points
- 100,000 airline miles in various other schemes including Emirates, Etihad and Air France KLM
What are the annual fees?
American Express Business Platinum has an annual fee of £595.
Business Gold has an annual fee of £175, but the first year is free.
How are the cards structured?
Both Business Platinum and Business Gold are charge cards, not credit cards.
You MUST pay your entire balance at the end of each month. There is no option to pay interest and roll over the amount you owe.
We will cover the full benefits packages again in detailed card reviews later this week.
Who qualifies for the bonus?
You qualify for the bonus as long as you have not had an American Express card earning Membership Rewards points in the last thirteen months.
Note that the rule on the business cards is 13 months and NOT the 24 months that applies to the personal Cards.
For clarity …. the ‘no Membership Rewards cards’ rule applies across personal and business cards. If you have had a personal Gold, Platinum etc card in the past 13 months then you will NOT receive the bonus on Business Gold or Business Platinum.
On the upside, getting Business Gold or Business Platinum has no impact on your ability to get a future bonus on a personal Amex card. Confusingly, the bonus rules on the personal cards ignore any Business cards you may hold. The Business cards, on the other hand, look across your Business and personal card portfolio.
For absolute clarity ….. the following cards have no impact on your ability to get the bonus on Business Gold or Business Platinum:
- British Airways American Express
- British Airways Accelerating Business
- Nectar American Express
- Marriott Bonvoy American Express
- Harrods American Express
- Platinum Cashback
…… because none of these cards are ‘Membership Rewards’ cards. They offer something different (Avios, Nectar points, Marriott Bonvoy points etc) as a reward.
If the only American Express card you have had in the past 13 months is one on the list above, you definitely qualify for the 100k bonus on Business Platinum and the 50k bonus on Business Gold.
You can be a sole trader, partnership or Limited Company. You must meet the following criteria, which are cut and pasted from the Amex website:
- The business has a current UK Bank or Building Society account
- You/The business have/has no County Court Judgements for non-payment of debt
- You are aged 18 or over
- You have a permanent UK home address
If you apply as a sole trader, you do not seem to need a business bank account.
This is obviously a very exciting offer if you meet the qualification criteria.
Even if you use your Membership Rewards points in one of the less lucrative ways – converting them to Avios and then on to Nectar points – you would get 0.8p per Amex point in form of Sainsbury’s, Argos or eBay credit.
This means that the Business Platinum bonus is worth a guaranteed minimum of £800 and the Business Gold bonus is worth a guaranteed minimum of £400.
Over the next week, we’ll publish full reviews of both the American Express Business Platinum and American Express Business Gold cards highlighting the card benefits.
How do I apply?
Remembert that both offers end on 31st March.
Want to earn more points from credit cards? – June 2022 update
If you are looking to apply for a new credit or charge card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards.
Until 18th July 2022 there is an astonishing special offer on these cards. You get 50,000 Avios on the Avios Plus Mastercard and 10,000 Avios on the free Avios Mastercard. You can apply here. We strongly recommend getting the Avios Plus card whilst this offer is running.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
SPECIAL OFFER: The sign-up bonus on Amex Gold is increased from 20,000 Membership Rewards points to 30,000 Membership Rewards points until 19th July 2022. This card is free for the first year.
British Airways American Express Premium Plus
25,000 Avios and the UK’s most valuable card perk – the 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 30,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and an unbeatable set of travel benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 points bonus and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits Read our full review
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
British Airways Accelerating Business American Express
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
Capital On Tap Business Rewards Visa
10,500 points bonus – the most generous Avios Visa for a limited company Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.