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

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.

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.

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.

---

Want to earn more points from credit cards? – April 2024 update

If you are looking to apply for a new credit 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 with a bonus of up to 25,000 Avios. You can apply here.

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.

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:

SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.

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.