I’m generally a fan of Dave Ramsey. However, I don’t agree with everything that he writes. His absolute opposition to credit cards in all circumstances is one of those areas where I have a bit of a disagreement with him. There are ways to use credit cards to get some extra cash or miles and points to travel to exotic locations. I’ve written before of how you can actually save money with credit cards. Recently, I saw several travel blogs like Million Mile Secrets advertising for the American Express Blue for Business. I’m a huge fan of Chase Ultimate Rewards, but the possibility of earning 10 Membership Rewards points per dollar spent at restaurants over the next six months intrigued me.
Many people wonder if they can get a business card. There are lots of activities that can qualify people for getting a business card. For example, if you sell items on eBay or Amazon, you could qualify for a business card. I do this occasionally. I also do some freelance writing. Furthermore, I make a few bucks from this web site. These are all business activities that allow me to get a credit card intended for businesses.
I decided to go ahead and apply for the card, which would be my first business card. I applied with my SSN, and I was approved. You can also use a business tax ID to apply. The American Express Blue for Business currently offers 10,000 Membership Rewards after making your initial purchase in the first 90 days. There is no annual fee, so there’s no cost as long as you pay off your bill each month. This link will get you 10 points per dollar on the first $2,000 you spend in restaurants over the first six months. I will not earn anything from your using the link. The 10 points per dollar could wind up adding up to 20,000 points on top of the 10,000 bonus after the first purchase. Additionally, the first $50,000 that you might spend on the card will also earn 2 points per dollar over the first year. Then each year, you’ll get a 30% annual bonus on all of the spending that you put on the card each year. That’s an opportunity to get around 140,000 on this one card sign up if you max out all of the spending categories. I won’t spend nearly that much, but I should still get a nice bonus of a few tens of thousands.
For every 10,000 Membership Rewards points that you earn on the Blue for Business, you can trade them in for $100 in gift cards or $60 off your bill, among other redemption options. This is not my goal, however. I’m planning to get another card that will allow me to transfer my points in the future. There are other Amex cards that allow users to transfer Membership Rewards points to a range of travel partners that include several US and foreign airline frequent flyer programs. Here are a few of the 17 different airlines that you can transfer your Membership Rewards points to:
You can also transfer points to three hotel programs: Choice, Starwood, and Hilton. Most of the transfers are 1 Membership Rewards point turning into 1 airline mile or hotel point. This is where I intend to get the best value for the points that I earn. This is my first opportunity to earn Membership Rewards, and the best thing about some of these business cards is the fact that they do not appear to count toward the infamous 5/24 rule that led me to get denied for the Chase Sapphire Reserve, which I still hope to get at a future date.
My hope is that I can earn enough Membership Rewards points to take a nice trip or two to Europe, the Caribbean, Asia, or someplace else that would be good to visit. Already this year, I’ve been able to take a couple of great vacations, all because of my frequent flyer miles and hotel points that I earned from co-branded cards bonuses or from transferring Chase Ultimate Rewards to Southwest Airlines. What type of trip would you like to take or have you taken with frequent flyer miles?