Credit Cards Deals

Back again! 70k Amex points for opening an Amex Business Checking Account

a stuffed animal holding money

We may receive a commission when you use our links. Monkey Miles is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com and CardRatings. This relationship may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Monkey Miles is also a Senior Advisor to Bilt Rewards. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.


70k Amex points for opening an Amex Business Checking Account

Holy smokes, these business bank accounts keep getting richer and richer. Previously, the best we’ve seen is American Express offering 50k Membership Rewards, if you open a new business checking account with them and fulfill the following requirements:

  • Make a deposit of $5k or more within 20 days of opening
  • Maintain an average balance of $5k or more for 60 days
  • Make 5 ore more qualifying transactions within 60 days of opening your accounta screenshot of a computer

But now… there are reports of a 70k offer floating around that requires more money to be deposited. H/T M2M

  • Make a deposit of $15k or more within 20 days of opening
  • Maintain an average balance of $15k or more for 60 days
  • Make 5 ore more qualifying transactions within 60 days of opening your account

You do need a business, but at the same time, Sole Proprietors should qualify. This 70k deal looks to go to 7/31/24

You can see if you’re targeted here

a screenshot of a credit card

Is this the best deal we’ve seen?

History:

5/06/24

  • $15k deposit, $15k average balance for 60 days, 5 transactions

01/31

  • $5k deposit, $5k average balance for 60 days, 5 transactions in 60 days

11/23

  • 50k
    • $5k deposit, $5k average balance for 60 days, 5 transactions in 60 days

12/22

  • 60k
    • $5k deposit, $5k average balance for 60 days, 10 transactions in 60 days

What are 5 qualifying transactions?

This is what Amex defines as a qualifying transaction – the great thing here is that mobile deposits qualify.

a close-up of a cardThe account is fully digital

If you want the ability to go into a branch and speak to someone in person…this isn’t your jam. If you’re cool with it all being online and digital, this could be a nice fit.

a blue and white website

Here are some of the benefits of an Amex Business Account

You earn 1 Membership Reward point on every $2 you spend on the Business Debit card

  • 1 Membership Rewards for every $2
  • Earn an APY on Business Deposits

a screenshot of a phone

Payments:

  • Domestic ACH: No fee
  • Domestic Wire (Incoming): No fee
  • Domestic Wire (Outgoing): $20
  • International ACH (Incoming): No fee

These processing fees are included fee free:

  • Monthly account maintenance
  • Account opening
  • Additional accounts
  • Mobile deposit capture
  • E-checks
  • Outgoing and incoming returns
  • Non-sufficient funds
  • Stop pay
  • Billing inquiry
  • Duplicate credit/debit received
  • Admin processing
  • Statement copy
  • Physical checks processing

Zach, what do I need to provide to sign up for an Amex Business Checking Account?

This is what Amex says you will need to provide:

• Your Employee Identification Number (EIN) or Taxpayer Identification Number (TIN)
• Your Articles of Organization or a Certificate of Formation
• Information from a Driver’s License, State I.D., or Passport for each owner
• A Social Security Number (SSN) and ID verification for any Beneficial Owner with ownership of 25% or more
• A “Doing Business As” (DBA) certificate only if your business operates under more than one name
• A U.S. business address
• Information about your industry, size, and the purpose of your account

Will I do this?

I did do this at the end of 2023 and am currently in the process of getting approved ( I used a mailbox vs physical address, but I am on pace to get the 50k bonus ). The points for completing the requirements took a couple of months ot populate my account.

 

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

a blue credit card with blue lines and white text

Learn More

Affiliate LInk

Chase Sapphire Preferred® Card


4.8
4.8/5
The Chase Sapphire Preferred® is a great starter card that earns Premium Ultimate Rewards that can be transferred into over a dozen partners many of which are US based including Hyatt, Southwest, United, IHG, and Marriott.

Welcome Offer

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. 

Annual Fee

$95

Points Earned

Transferrable Chase Ultimate Rewards

  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
    • That’s $750 when you redeem through Chase Travel℠
  • 5x on all travel purchased through Chase Travel℠
  • 3x on dining, including eligible delivery services for takeout & dining out
  • 3x on select streaming services
  • 3x on online grocery purchases
    • (excluding Target, Walmart and wholesale clubs)
  • $50 Annual Chase Travel Hotel Credit via Chase Travel℠
    • The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
  • 2x on all other travel
  • 10% Anniversary Bonus
    • Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
  • Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
  • Points are transferrable to 14 Ultimate Rewards partners
  • Redeem in Chase Travel℠ for 1.25 cents per point
  • No foreign transaction fees
  • Suite of Travel and Purchase Coverage
    • Auto Rental Collision Damage Waiver is my favorite
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024
  • $95 Annual Fee

We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.

Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.

Main Cast: 

Cards that earn flexible points and should be used on the bulk of your purchases.

Supporting Cast:

Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on. 

The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.

If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex®  and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners

Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

7 Comments

  • Christian May 6, 2024

    My wife got a 70K for $20,000 offer but when I followed the internal Amex link it errored out and said to try back later.

  • Cody February 7, 2024

    AMEX is saying they will only give me 30K rather than 50K (even though I applied through the link for 50K), because the rep claimed I was not directly targeted and that the offer says you can’t forward or some BS.

  • Christian January 8, 2024

    Any idea how long a previous account should be closed for before applying?

  • DaninMCI December 6, 2022

    Still shows as “60” not “60k” on BoardingArea. FYI

  • Hal December 5, 2022

    Since it’s a bank account offer instead of a credit offer, are you likely to get a 1099 for this?

  • Miles December 5, 2022

    60 Amex points you say? They couldn’t even bothered to give a single thousand? 🙂

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.