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Amex targeting some Business Platinum users for second card, extra 75,000 bonus points

Dec. 01, 2019
4 min read
american express business platinum second card
Amex targeting some Business Platinum users for second card, extra 75,000 bonus points
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They don't advertise it, but many credit card issuers allow you to have multiple copies of the same credit card, especially business credit cards since people can own or be part of more than one business. However, it's generally tough to get a second welcome bonus if you haven't waited 24 months or more since the first bonus, and with an issuer like American Express, you're limited to one bonus per lifetime per card, making earning a second bonus for the same card all but impossible.

But apparently the impossible has become possible if you're targeted with the offer I just received in the mail. I got my current Business Platinum Card® from American Express only about six months ago by upgrading from an existing American Express® Business Gold Card after being targeted for a 50,000-point upgrade bonus (the public Business Gold bonus is currently 35,000 points after spending $5,000 in purchases in the first three months). Now, American Express is not only flat out suggesting that I should get a second Business Platinum card, it's offering me up to another 75,000 bonus points to do it.

The letter inside the envelope suggests several reasons someone might want a second Business Platinum card:

"As your business expands, do you ever wish there were 2 of you to get everything done? That's the idea behind having 2 Business Platinum Cards from American Express. Two Platinum Cards give you extra power to move your business forward. ... When you have 2 Business Platinum Cards, you can use your 2 Cards to keep expenses separate for multiple projects, locations or businesses."

Now, let's be clear — the Business Platinum comes with a $595 annual fee (see rates and fees) so having two of them means your business is paying nearly $1,200 in annual fees, which most definitely ain't nothing. But since you'll get the full credits from each card, you'd recoup a good chunk of that cost, including $200 in annual airline credits and $200 in annual Dell credits per card. Better yet, those credits are awarded each calendar year and December just started, so if you're targeted for this offer and time it just right, you can get the credits on this second card for 2019, 2020 and even 2021 before your second annual fee hits. That's $600 in credits in a period of roughly 13 months.

On top of that, TPG values Amex Membership Rewards points at 2 cents apiece, making this 75,000-point targeted welcome bonus worth an additional $1,500. The minimum spend required isn't small — $20,000 in just a short three months — but should be feasible for businesses that have significant regular monthly expenses.

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If you don't already have a Business Platinum card, you can actually get an even better welcome bonus if you sign up in the next few days. For a limited time through Dec. 4, 2019, businesses without the Business Platinum from American Express can earn an elevated welcome bonus of up to 100,000 points. It breaks down to 50,000 points after you spend $10,000, and an extra 50,000 points after you spend an additional $15,000, all on eligible purchases on the card within the first 3 months of card membership. That's an additional $5,000 in spending over the targeted second card offer, but you'll earn an extra 25,000 bonus points — worth $500 based on TPG's valuations — for your troubles.

Bottom line

I've been analyzing the credit card industry for more than a decade now, and I can't remember any bank ever sending out an offer to get a second copy of a credit card you already have, along with awarding a welcome bonus for it. Sometimes if you walk into a branch, a bank employee might suggest getting a second card, but having an issuer promote it in writing is relatively unprecedented, especially in this age of tightening application rules and bonus restrictions.

So if you're targeted for this offer, it's certainly worth your consideration, especially given the difficulty in earning a second welcome bonus on Amex cards. You'll want to make sure you can make the minimum spend threshold as well as maximize the annual credits, but if that's feasible for your business, I'd recommend going for it.

For rates and fees on the Business Platinum card, click here.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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