Business Platinum Card from American Express
130,000 MR points
Strategizing Around the Chase 5/24 Rule
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Business Platinum Card from American Express
- Earn 90,000 MR points upon spending $15,000 in the first three months
- Plus, earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
- And, earn 1.25x MR points on all purchases
- Also, receive a $200 annual travel credit
- Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
- Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
- Credits and rebates for business expenses throughout the year with Amex Offers
- Bonus MR points for referring family and friends
- Qualify for the card as a sole proprietor
- Annual fee: $799
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Does opening canadian credit cards counted for 5/24 rule?
no they are separate
The Freedom cards can not transfer ultimate rewards points to partners. However, you can transfer points earned from the Freedom cards to a Sapphire Preferred, Sapphire Reserve or Ink Preferred. From any of these premium cards, you can transfer points to partners.
Good remark, Oliver!
Jan start my first Amex us charge card, June second Amex us charge card with ITIN. My 12 months timing still count from the first one in Jan right? If I only has Amex charge, but no personal card, it’s also fine?
Yes, your 12 months timer starts from the first statement. Usually, within a week after your 12th statement hits, the credit reports are all updated and you can apply for Chase. Do not apply earlier, as they may reject you even at 10-11 months, as they did with me.
And yes, charge cards are fine.
Is chase business card that hard to get now? previously, I thought with a year of personal chase history, it is likely.
I have been auto-approved in the past. Things have eased up again in recent months.
It was always not easy, as per what I heard. With covid they seem to have tightened even more.
You can get Bank of America without ITIN and without visiting a branch. Their premium cards are pretty strict on credit score/history though.
Seems to be the case, indeed. Thanks for the remark!
Alex is this serious: « If you’re over the five credit card threshold, you must wait two years after you opened your fifth-most-recent card for the “slot” to free up »? I thought that I could get a fifth card. My first one was opened in August 2 years ago so I thought that I would fall under 5/24 in August. Now you’re telling me I have to wait for 2 years from when I was approved for my fifth card?
No, you misunderstood. If you have only ever had five cards, and your oldest card turns two years in August, that would bring you to 4 cards opened in the last 24 months, thus making you eligible for Chase.
In addition, the count doesn’t usually start from the day opened the card, but from the first statement date. Hence, you may have to wait until September to be sure Chase has the up to date information.
Thanks Alex, I’m relieved!
I mean: first in August 2019 and fifth in April 2021.
Why are you recommending to downgrade a CSP to a no-fee Sapphire card and not the Freedom Flex or Freedom Unlimited? The no-fee Sapphire is pretty worthless.
Agreed Chief. Having multiple Freedoms can make the quarterly bonuses decently lucrative. Just do the “spending” in USD “online”. 🙂
Thank you for the remark.
Indeed, you could do that. However, for Canadians who mostly spend in CA$, either of them is quite worthless because it has a high FX fee, which greatly minimizes return on spend.
One scenario when you may want to downgrade to Freedom is if you want to apply for a new Sapphire in 48 months after your first one.
Please confirm. An Amex charge card builds a U.S. credit file? I thought only U.S. credit cards did.
Yes, all personal cards reflect on your credit report. A charge card’s limit will be reflected as the highest ever statement balance reported, that’s it.
Coincidental timing of this article as CSP referral links went live with the latest offer today, 😏
It was not intentional, but I still can’t think of a better way to support your favorite miles & points blog!
“Favorite” would be bit of a stretch, 😌
Do US business cards count toward the 5/24 rule?
No, they do not. You can safely apply.
good to know. thx!
very good informative article Alex.. Thanks