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Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!

jasonbourne84
Regular Contributor

Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!

My business has been in existence for 12 years. Three years ago, I became co-owner. I've always been an authorized user on my business partner's Wells Fargo Platinum CC (which is where we do our business banking).

 

I finally decided that I'm tired of not getting any rewards on my business spend, so today I apped for the Amex Business Platinum with an offer of 150K MR points with $15K spend in first 3 months. It was instantly approved. YAY! 

 

This is my first foray with a biz CC, so I have some questions for those of you who are more experienced - especially with this particular card: 

 

1. I enrolled into the Dell and Indeed benefits, among others. I also added 5 authorized user (Amex Green) cards for some of my employees. If they are the ones that spend on things like Dell and Indeed, will I still get those credits, or do those items have to go on my personal plat card? 

 

2. Any idea if this is going to hit my personal credit report in any way? As an HP? As a monthly reporting item? Etc? 

 

3. Are there any other tips and tricks I should know about using this card? 

7 REPLIES 7
4sallypat
Established Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!

Congrats!

 

I got the same offer (150K MR) but hestitant due to the $15K spend in 3 months as I am a Sole Prop.

Assume you will be able to meet that spend threshold ?

 

As I understand the business offers for Dell, Indeed, Adobe are all under your Business Plat account so it will count towards your discounts & MR points no matter who uses it under your account.

 

There is no HP on your personal (for the most part by Amex if you are already a customer of theirs).

It does not report to your personal CR unless you default.

 

Just remember it is very similar to your personal plat - airline fee credit, Clear credit, FHR, Lounge access, Global entry/TSA,  etc.

 

Message 2 of 8
cashorcharge
Senior Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!

That's a terrific offer!! Congratulations on your AMEX PLAT Approval!! 🥂🎉👏🏻

Message 3 of 8
jasonbourne84
Regular Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!


@4sallypat wrote:

Congrats!

 

I got the same offer (150K MR) but hestitant due to the $15K spend in 3 months as I am a Sole Prop.

Assume you will be able to meet that spend threshold ?

 

As I understand the business offers for Dell, Indeed, Adobe are all under your Business Plat account so it will count towards your discounts & MR points no matter who uses it under your account.

 

There is no HP on your personal (for the most part by Amex if you are already a customer of theirs).

It does not report to your personal CR unless you default.

 

Just remember it is very similar to your personal plat - airline fee credit, Clear credit, FHR, Lounge access, Global entry/TSA,  etc.

 


Thanks for all of this! We shouldn't have a problem hitting the spend, provided that my staff remembers to switch everything over quickly. You can bet I'll be pushing them to do so. Smiley Happy 

Message 4 of 8
joeyv1985
Frequent Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!

Hello Jason, 

 

I got that invite as well.  I can pay vendor invoices easily and hit that $15K spend in 3 months. No hard pull on your FICO score which is sweet. Instead of having 2 Amex Plats, maybe “Downgrade” on the personal one. This card would be strictly for business use only like paying vendors or business travel. The annual fee is less than the personal Amex Plat which is a plus.  The question is, what do I downgrade the personal Amex Plat to? Also, I have the Amex Business Cash which gives me 2% on all purchases, no annual fee, and no interest until May. Maybe I can use that as an "emergency" card for business the same way I use my Citi DC for personal use. Choices Choices. 

Message 5 of 8
4sallypat
Established Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!


@joeyv1985 wrote:

Hello Jason, 

 

I got that invite as well.  I can pay vendor invoices easily and hit that $15K spend in 3 months. No hard pull on your FICO score which is sweet. Instead of having 2 Amex Plats, maybe “Downgrade” on the personal one. This card would be strictly for business use only like paying vendors or business travel. The annual fee is less than the personal Amex Plat which is a plus.  The question is, what do I downgrade the personal Amex Plat to? Also, I have the Amex Business Cash which gives me 2% on all purchases, no annual fee, and no interest until May. Maybe I can use that as an "emergency" card for business the same way I use my Citi DC for personal use. Choices Choices. 


I am considering getting the Business Plat and shift all my purchases to it for 3 months hoping to reach $15K.

Then I will downgrade the Personal Plat to Gold or Green just to keep the MR points I have already.

Message 6 of 8
jasonbourne84
Regular Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!


@4sallypat wrote:

@joeyv1985 wrote:

Hello Jason, 

 

I got that invite as well.  I can pay vendor invoices easily and hit that $15K spend in 3 months. No hard pull on your FICO score which is sweet. Instead of having 2 Amex Plats, maybe “Downgrade” on the personal one. This card would be strictly for business use only like paying vendors or business travel. The annual fee is less than the personal Amex Plat which is a plus.  The question is, what do I downgrade the personal Amex Plat to? Also, I have the Amex Business Cash which gives me 2% on all purchases, no annual fee, and no interest until May. Maybe I can use that as an "emergency" card for business the same way I use my Citi DC for personal use. Choices Choices. 


I am considering getting the Business Plat and shift all my purchases to it for 3 months hoping to reach $15K.

Then I will downgrade the Personal Plat to Gold or Green just to keep the MR points I have already.


Please don't mix your business and personal spend. It can jeopardize your liability shield (allowing someone to pierce the corporate veil) and land you in hot water with tax authorities. 

Message 7 of 8
joeyv1985
Frequent Contributor

Re: Amex Biz Platinum Approval (w/ 150K MR offer) & Questions!


@jasonbourne84 wrote:

My business has been in existence for 12 years. Three years ago, I became co-owner. I've always been an authorized user on my business partner's Wells Fargo Platinum CC (which is where we do our business banking).

 

I finally decided that I'm tired of not getting any rewards on my business spend, so today I apped for the Amex Business Platinum with an offer of 150K MR points with $15K spend in first 3 months. It was instantly approved. YAY! 

 

This is my first foray with a biz CC, so I have some questions for those of you who are more experienced - especially with this particular card: 

 

1. I enrolled into the Dell and Indeed benefits, among others. I also added 5 authorized user (Amex Green) cards for some of my employees. If they are the ones that spend on things like Dell and Indeed, will I still get those credits, or do those items have to go on my personal plat card? 

 

2. Any idea if this is going to hit my personal credit report in any way? As an HP? As a monthly reporting item? Etc? 

 

3. Are there any other tips and tricks I should know about using this card? 


1. I enrolled into the Dell and Indeed benefits, among others. I also added 5 authorized user (Amex Green) cards for some of my employees. If they are the ones that spend on things like Dell and Indeed, will I still get those credits, or do those items have to go on my personal plat card? 
I don't have an answer for this. However, I have an Apple "Business" account and once you spend more than $5k with them, you get 10% off all purchases and services(I think). And since Apple is considered an Electronics store......1.5% on all purchases. 

2. Any idea if this is going to hit my personal credit report in any way? As an HP? As a monthly reporting item? Etc? 
There was no hard pull on my report. I applied for Amex Business Plat via a promotion, about a week ago, and nothing on my Credit Reports indicated a hard pull from Amex. I got the personal Platinum about a year ago, then opened up an Amex Business Cash account back in May(No HP either), then this. 

3. Are there any other tips and tricks I should know about using this card? 
1.5% on  the 3 categories or a minimum transaction of $5K will get you the 1.5% as well. I'm in the supply chain business and it's going to take me to pay 1 more invoice with one of my vendors then I will have reached the $15K threshold. I'll probably do that on Monday.  So far this month, I've cut checks totaling $40K with nothing to show. There are no points in writing checks. It also really helps with my cash flow. If the client has a check on the way, then I'll pay the corresponding invoice from the vendor so I know for sure I'm not going to get stuck with the bill. 
Here's a link to all the of all of the retailers that you can earn 1.5% regardless of spend. I'm sure it's subject to change. Hope this helps and congratulations. 
https://www.americanexpress.com/us/rewards-info/business.html

 

Message 8 of 8
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