Comments on: $250 Bonus for American Express Business Gold Rewards Card

By: Flexo

Flexo — Sun, 28 Oct 2007 00:44:59 +0000

StarMillar: I was quoting directly from the terms of service — which say exactly what you said — so I think you misinterpreted what was written. “Cardmembers transferring points to participating domestic airlines will be charged a fee of $.0004 per point, *up to* $50.”

By: StarMiler

StarMiler — Sun, 28 Oct 2007 00:36:06 +0000

Flexo, I’m sorry but your calculation on the gift card has a flaw. The $50 is NOT for converting 25K points to 25000 miles. It is the MAX that can be charged for converting any number of points to miles.

at the rate of $0.0004 per mile, 25000 points cost $10 to get 25000 miles. And IF your airline is a member of Membership rewards like Delta Airlines (for example) then one can essentially earn 25000 miles for a meagre $10!!

Lets not forget how hard/expensive it is to get 25000 miles just by flying. I normally dont take gift cards but choose to convert miles. Thats a personal choice.

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Mon, 03 Sep 2007 02:31:12 +0000

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By: Flexo

Flexo — Thu, 21 Jun 2007 15:30:12 +0000

Yes, you’d be eligible for a business card as long as your eligible for a non-business card. You can consider yourself a sole-proprietorship and use your social security number for your business tax ID. There’s no major difference between non-business cards and business cards. They may offer additional services depending on the issuer, but nothing extraordinary.

It’s likely opening an additional credit card will have an effect on your credit score, but the size of that effect will most likely depend on other factors, like the length of your credit history and how many open lines of credit you currently have. Closing the account after a year shouldn’t have much effect, as long as you have open credit cards with long histories. But all this is mostly guesswork. FICO doesn’t tell people how they calculate their scores but only gives general guidelines.

By: mstein_88

mstein_88 — Thu, 21 Jun 2007 15:23:06 +0000

Probably a very stupid question, but is someone like me — as an individual with pretty good credit — typically eligible for a “business” credit card? I have a few personal credit cards, but what makes this one different?

Also, is my credit score likely to be adversely affected by opening another credit card and subsequently canceling it within the first year?

Thanks…

By: Michelle

Michelle — Wed, 20 Jun 2007 21:35:54 +0000

I signed up a couple months ago. This week, I used my $250 for: 1) $100 gift card for a wedding gift, 2) $100 Avis rental card for said wedding, 3) $50 gift card to take my honey out to dinner.

After I receive the gift cards, I’ll cancel the credit card. Easy.

Only disappointment was that there were no gas station or Target cards available in their rewards program. I would much rather have used that extra $50 for things I need (gas and necessitites at Target). The honey doesn’t mind the free dinner, however. ;-)

Taking money from credit card companies is sometimes SOO ridiculously easy!

By: Flexo

Flexo — Wed, 20 Jun 2007 01:42:36 +0000

The catch is in the fine print. You could be charged up to $50 to use the points as miles at an airline, at $.0004 per point. You *may* be better off cashing the reward points for the gift card.

By: Jim

Jim — Wed, 20 Jun 2007 01:30:43 +0000

Am I missing something? All I have to do is sign up for this card, make a $5 purchase, pay my bill, and get a free, round-trip place ticket anywhere in the U.S.? Sounds too good to be true…

Anyone else have any thoughts?