cancel
Showing results for 
Search instead for 
Did you mean: 

High Spending to get Business Card Bonus

Valued Contributor

High Spending to get Business Card Bonus

A lot of the card require $5,000 spending in 3 month....

Image result for bank of america cash rewards
Message 1 of 6
5 REPLIES
Highlighted
Regular Contributor

Re: High Spending to get Business Card Bonus

20k in 3 months for the AMEX Business Platinum. My business met that in a single purchase when I signed up, so I wouldn't consider 5k minimum spend to be remotely high for a business card.

 

It is pretty obvious what kind of client they are looking to attract with the relatively high minimum spend, though it does little to deter the churners. It might slightly change the risk calculus for those that would struggle to meet the spending through organic means; you can work 5-7 bonuses for the same amount of spending. The opportunity cost may not be worthwhile, especially if AMEX starts regularly clawing back after certain less than honest spending patterns.


Gardening from 10/1/2017 to 4/1/2018.
Message 2 of 6
Valued Contributor

Re: High Spending to get Business Card Bonus


climbfire wrote:

20k in 3 months for the AMEX Business Platinum. My business met that in a single purchase when I signed up, so I wouldn't consider 5k minimum spend to be remotely high for a business card.

 

It is pretty obvious what kind of client they are looking to attract with the relatively high minimum spend, though it does little to deter the churners. It might slightly change the risk calculus for those that would struggle to meet the spending through organic means; you can work 5-7 bonuses for the same amount of spending. The opportunity cost may not be worthwhile, especially if AMEX starts regularly clawing back after certain less than honest spending patterns.


Sure certainly.  Many businesses have a daily expenses in $MM.  But many many more businesses are very low expenses.  

Image result for bank of america cash rewards
Message 3 of 6
Regular Contributor

Re: High Spending to get Business Card Bonus

BronzeTrader, 

 

Was there a question or discussion about the spending requirements? As in how they expect, or why business cards have them? 

Amex Biz Plat | Amex Biz Gold | Amex Biz Plus | Amex BCP | Amex PRG | Chase Sapphire Reserve | Chase Freedom Unl | BoA 123 Sig | Delta Biz Gold | Discover IT | Macy's Amex | PayPal Extras MC | and a couple store cards | Starting Score 618 EX (2/2014) - Today All 3 above 815 | MyFico Rocks |
Message 4 of 6
Frequent Contributor

Re: High Spending to get Business Card Bonus


BronzeTrader wrote:

A lot of the card require $5,000 spending in 3 month....


I agree! I think especially Amex is targeting higher volume businesses. My business doesn't spend enough for that bonus requirement. Unless, I put my business tax bill, rent, and utilities through the business card, which I don't like doing. And, I use my personal credit cards for those personal bills. I wish they made one with less spend but a good bonus.


FICO 08 (Nov 2017): EX 625 / EQ 635 / TU 666 - Gardening until 05/30/18!
Message 5 of 6
Valued Contributor

Re: High Spending to get Business Card Bonus

I think there are just different types of "business".  You can have large corporations, mid-size companies (500?), small company (20 to 50) and proprietors.  Some of the proprietors do not have huge spending.  Those people are consultants, white-color contractors, IT people, teachers etc.  For those people the normaly costs are travel, computer and communication, office supply etc.  Those people may make $10,000 to $20,000 a month and have less than $1,000/month expenses.  

 

Certainly AmEx wants all the business customers, big or small.  But the bar has to be high.  No free $$ to hand out.

Image result for bank of america cash rewards
Message 6 of 6