
Well, I thought we'd start off here with one heck of a deal. You may have seen this offer floating around the web as of late, it's pretty popular. And there's a good reason for this: it's the best credit card sign-up bonus that I've seen…ever! It'll take a few minutes, and in the end you'll be getting something for pretty much nothing. Read on…
- Go
here and fill out the American Express Gold Rewards Business Card online application. Use your name as the business name. You'll be (hopefully) approved instantly.
- The card will show up in a few days via UPS. Use it once to pay for anything, and your account will be credited 25,000 points.
- Use those points to get a $250 gift card, 25,000 miles for your favorite frequent flier program, or a free round-trip airline ticket on Southwest Airlines (currently selling for around $350 on e-Bay).
- Make sure to cancel the card before a year has passed so that you don't have to pay any fees (the first year is free, each year after is $125).
So there you have it, a few minutes of time to sign up, use it once, get your rewards, then cancel it whenever you want to. A cool $250 to $350 or so in your pocket. It's amazing what credit card companies are doling out in order to get new accounts these days. This deal ends August 31, 2007, so hurry up and apply!
UPDATE 01: It is now September 02, 2007 and it seems to have been extended, at least until the 10th of October.
UPDATE 02: As of October 22, the deal seems to have been extended indefinitely. Must be quite the successful campaign!
UPDATE 03: As of late November the deal has now ended. It has been replaced with 'receive $50 (5,000 points) after your first purchase'. Couldn't last forever I guess!
A few tips:
- I wouldn't use this card as my main card. It may be prestigious and all (maybe you could use it to pay when you're out on a date or trying to impress clients…?), but it has a yearly fee, the APR isn't great, and the rewards program is mediocre. There are better cards out there for everyday use, but nothing out there beats this introductory offer.
- Don't forget to cancel it before a year is up! Don't want to get hit with a $125 fee.
- When you get your card in the mail, it will come with the standard documentation that says that you will get 5,000 points after the first purchase. I asked a customer service representative about this and she assured me that I will indeed get the full 25,000 points after my first purchase, it's just that every card is mailed out with the same standard documentation.
- There is a $.0004 fee per point (up to $50) when transferred as frequent-flier miles, so going straight for the flight voucher is the best choice in my opinion. Go to http://www.membershiprewards.com/ for more information on rewards offered, applicable fees, and restrictions.
- UPDATE: On the rewards page you will see that you have the option to exchange your points for American Express Gift Cards or Travelers Checks. This is not a cost-effective option as they only give you $50 per 10,000 points redeemed. Go for the aforementioned gift cards, airline miles, or flight vouchers where you get the standard .001:1 ratio of points to dollars.