If you’re looking for an Amex business credit card to go along with this account, watch one of these videos next: 🎥 Amex Amazon Business Prime: Do THIS To Get Approved: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-2vQ5H0o1nTc.html 🎥 Amex Blue Business Plus: Get APPROVED With NO Business: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-G08XCEvU24I.html What business checking account do you personally use? 👇🏼
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Hi Spencer, I literally just applied for the Amex Business checking and could not stop laughing because the wait was soooo long after clicking submit! I timed it and it was 2 minutes ! Like you, it said I would get a decision and a minute later was approved! Thank you for the info on your video, it helped tremendously!
Wow 30K AMEX Points for a checking account is pretty wild. I was able to get a $300 Bonus on my Chase Business Checking Account, but the 30K AMEX Points combined with the 1.3% APY on the AMEX Account is definitely something I want to consider here in the future. Great walkthrough & video here Spencer!
I'm happy with it for sure! But this account does have a 60k bonus come around sometimes so that could be worth waiting for if you don't need the account right now. Thanks for watching Matt!
Great walkthrough Spencer! I had this account when it first opened, and had it for about a year. Kind of like you were showing in the video, the interface is a little clunky, and trying to access my account was difficult for me more times than I'd like to admit. The APY was much nicer comparatively back then (1% when HYSAs were getting 0.5%), but I decided to close the account and move elsewhere. Now I just park my extra business funds in CDs, which may not be the right move for everyone, but it works for me. Nice video, congrats on the new account and the nice bonus!!
Thank you Stan! I'm not a huge fan of the interface yet, but for the purposes I've been using it for it seems to work just fine. That's not a bad idea either to park your extra business funds in CDs... it may be something I consider in the future! Thanks for being here Stan!
I have this business account and I love it. I use it for my tax money. When I was applying for mine i got the pending review screen too 11:23 then I had to verify my identity and business paperwork with a special notarized agent. The redemption rate is 1cpp not that bad but not better than when redeem with Charles Schwab.
I had to go through that notarization process too, which was actually a pretty interesting process. Even though I was super annoyed that I had to go through it!
@@MannyCovington I think the cash was a better option... I think they just started giving MR points last year after they introduced the personal checking account which you can't get if you have the business checking account 🤔
I didn’t realize that there may be a waitlist for this. I did see a targeted offer for a business checking account in my Amex app 🤔. That application was long! Geez! And what gives with the “almost” instant approval. That was interesting, almost as if they were like “just kidding, you’re approved”.
Funny! I just set up a business bank account for my LLC for my rental property today. I chose a local credit union, they offer a good business checking and savings I’ll use for my property. However, I strongly considered novo or Amex business along with some other online business banks. I ultimately decided for the local credit union just because I’m hiring a property manager and they are used to this credit union, and they have good account options with a good online interface. Good video Spencer!
You gotta do what's best for you! Luckily you can open any bank account you want with no real consequences, so even if you eventually get this one just for the bonus that could still be worth it. I'd wait until the 60k bonus comes back if you can though!
I went throught the same process and had the same experience as you did. I received the "A decision is coming soon" email and was approved via e-mail a minute late. Great content, thank you for the video!!
Do you recommend applying for the checking account firt OR the Business credit card first? Not sure if having my personal charge card with them is considered already "building a relationship" with them..
Might come in handy one day. Ive had this for a few years and have other business checking accounts that i had before it... But remember, when I applied for the Hilton Business Card, they asked me for 3 months of "Business Checking" Statements When I got it, they had a bonus of $500 when you have $10k in the account for 60 days plus some other stipulations. It didn't earn MR points at the time
I just got the Hilton business card. I wasn’t asked for any statements. I’m glad that i didn’t read this comment before I applied. I may have chickened out. My business only makes a few hundred a month.
@@lienecarter6411 lol, yeah Amex was making sure I was legit. Probably because I have 12 Amex. I'm glad that I had that business checking account though 😀
What a coincidence that I applied for this same bonus offer, on Friday. It went into review and had to wait to call on Monday but Amex called me on Monday about 10am. They just wanted me to confirm some information and I was approved. Deposit just processed today. Easy 30k points to get😎
I got the 60k points offer when it was out, I have soooo many points on hold that I can’t use b/c of life circumstances unfortunately. Won’t be able to travel internationally until roughly 3 years. Let’s hope the devaluation isn’t tooo bad.
I know this is an older video, but just wondering if they removed the Amex business checking account app? All I see on the App Store is the blueprint app
Wow great info. I’m doing this in the next week. My objective it the Bus Hilton. Can you get into explaining Cabbage within this realm and furtherance of business expansion funding?Thank you.
Excellent video! I'm looking at quite a few options for my first business checking account and your video was extremely informative 💎 keep making great content 💪🏾
This was a great video Spencer! I was wondering if I could get this as a sole prop with my EIN, so I might try it! Also glad you clarified the “trick”. I assumed 5 debit card transactions would suffice. Great to know! Good looking out!
Thank you Doc!! I know Calby tried to apply as a sole prop and was denied but that could have been for many reasons. Let me know how your application goes if you decide to do so! I'm always happy to help where I can... thanks for watching Doc!
@@SpencerJohnsonOfficialI’m weighing in here months later - I was able to open this as a sole prop with just my EIN. For some reason I had to go through quite a process to verify my identity including sending photos of my DL and then actually having a video call with someone to verify! I’m curious how you like this account. To me it feels a little unpolished and janky which is surprising for Amex. I’m sticking with it for now though.
Thanks for the DP man! That's good to know you were able to get through as a sole prop, but I've heard a lot of folks with the same experience as you on that front. As for the account itself, definitely janky and I wish they'd focus more attention on it, but it gives me some kind of interest on my cash, so I guess I can't complain 🤷🏼♂ @@MidlifeMoneyMoves
When you deposited the $5,000 in 5x $1,000 deposits... how did you do it so it counted as a qualifying transaction? Did you write checks to yourself and use mobile deposit? or some other way?
Does the personal checking / savings work in the normal amex card app? (oh you answered later, I think I'm about to open a savings and can let ya know here / discord)
Good video. I have been looking at this as a way to further build a relationship with amex but right now doesn't make sense since I use my sofi savings and vault business funds in a specific vault with a 4.3 APY. Maybe further down when market adjusts and interest rates are down it would make more sense
Thanks man! It really only makes sense for me for the bonus and since I didn't have a business specific checking account earning any APY. I still park most of my liquid cash in an HYSA, but for general cash flow purposes, this account should work pretty well for me.
Got the 200,000 points for business platinum and Business Checking (20k) bump when you apply for both together. Other question Spencer, five and 812 credit score but I have 8 hard inquiries, this past month I may have gotten a little crazy with business and personal card 😂. Do you think my score is gonna get killed or still? I’ll be good mid 700’s I’m planning on another card next month and then each month after building my Chase before I hit my 5/24
That's awesome!! I imagine those inquiries will drop your score slightly heavily in the short term but with how high your credit score was before you should recover quickly. I recommend spacing cards out at least a month in between (usually 3 for myself) but that's up to you of course. If you have 8 hard inquiries in the last month, how many cards were you approved for? I imagine you're over 5/24 already, but maybe not.
@@SpencerJohnsonOfficial no only three personal the rest are business. So right now I’m making a run on Chase business cards over the next couple months before I get the Chase Hyatt card, and then one final Chase before I move on to other banks.
I haven’t heard of anyone getting on the waitlist, but I think it’d be best to have a business card with them first if you wanna fast track the process.
They told me you have to already have a credit card with them to open an account. Otherwise they are no longer accepting outside applicants….until further notice
A excellent and even freaking idea to bring into the table let’s say but videos saying a definition in the financial life and world like why, for what, how and reasons in explanations of the financial life and world for each person so since there’s people of any age building or re-building credit history and boosting for a higher credit score so why not subject even topics in what is financial life and world for anyways. Non-offense to no one only my personal opinion and comments.
