Last year The Blue Business® Plus Credit Card from American Express was introduced, which I consider to be the single most lucrative card out there for everyday, non-bonused spend.
The Blue Business Plus Card has no annual fee (Rates & Fees), and offers 2x Membership Rewards points on the first $50,000 spent annually. It’s amazing that the most lucrative Amex card for non-bonused spend is also one without an annual fee.
I value Membership Rewards points at ~1.7 cents each, so to me that’s a return of ~3.4%. The other cool thing is that the card is enrolled in the “full” Membership Rewards program, meaning that points can be transferred to the Amex airline and hotel partners. Some other no annual fee Amex cards accrue Membership Rewards points that can’t be transferred to partners.
Anyway, the reason for this post is that it’s a new year, meaning that the limit on the card has reset, since it’s based on the calendar year. I know some people reached the $50,000 2x points limit last year and then put the card away for a while, so if you’re in that situation, it might be time to take the card out of the sock drawer.
Ford has this card, and I plan on picking the card up in a couple of months. Right now I’m maxed out on Amex cards, but I plan on canceling the Blue for Business Card that I got early last year (which has since been discontinued and replaced by the Blue Business Plus Card) and replacing it with this.
I’d note that the Blue Business Plus Card has no welcome bonus. When it was first introduced it briefly had a welome bonus of up to 20,000 points, though it hasn’t offered one since then. I doubt we’ll see another public bonus anytime soon (given how ridiculously lucrative this card is), so personally my plan is to apply as soon as I can, even if it doesn’t have a bonus. There’s a direct opportunity cost to not having this card, so to me it’s not worth waiting for any bonus that may or may not ever happen.
If you’re considering applying for the card, anecdotally I find Amex business cards to be easy to be approved for. Most people I’ve heard from have reported instant approvals on this card, so it really shouldn’t be very tough to be approved for, even if you haven’t gotten many business cards in the past. Furthermore, since this is an Amex card, keep in mind that:
- Typically applying for Amex business cards won’t count towards Chase’s “5/24 limit,” so you can apply for those cards without it counting as an additional open account; along similar lines, many report not having a credit inquiry show when applying for this card
- In the unlikely event that you’re denied for the card, Amex typically conditionally approves people based on their existing customer profile with them, meaning you likely wouldn’t get a credit pull if you already have Amex cards
If you already have the Blue Business Plus Card be sure you’re using it, now that it’s a new year. To those of you who don’t have the card yet, consider getting it.
Do you have the Blue Business Plus Card, and did you max out the 2x points bonus for last year?
The following links will direct you to the rates and fees for mentioned American Express Cards. These include: The Blue Business® Plus Credit Card from American Express (Rates & Fees).