American Express has gone aggressive this Quarter not only on their personal cards like with Amex Plat offers and Amex Reserve offer but also on their corporate/business cards to raise the business card spends.
This is happening at right time now as businesses are recovering from Covid-19 impact and getting back on revenues (hope the 2nd wave affects less). Here are the latest offers from 1st April 2021 on American Express Corporate cards:
Spend Linked Offer
- Offer: Spend 40 Lakhs & get 1 Lakh points
- Offer Period: April 2021 to Dec 2021
This offer is applicable to those who applied and got approved for the American Express Corporate Platinum on/after 1st April 2021.
What this offer does is basically double your reward rate, similar to double rewards promo, but to avail that 2X value a min. spend is required in this case.
As you might know, Amex Platinum gives 2.5 Reward points on Rs.100 spend (1 MR per Rs.40 spend) but by achieving this target you get 2X rewards, meaning 5 Reward points on Rs.100 spend.
So on spending 40 Lakhs INR you get 2 Lakh points (1 Lakh regular points + 1 Lakh bonus points).
That’s a very good value which gives you a reward rate of ~2.5% (assuming 1MR = 50Ps) on the spend upon achieving the target.
- Offer: 2X rewards on select type of spends
- Type of Spends: Amazon, Flipkart & foreign currency spends
- Max. Cap: 35,000 Points per month
A decent offer but for foreign currency spends its still a loss to use Amex corporate cards.
Note: This offer used to exist even before (in 2020) with other partners like: AWS, LinkedIn and FB Ad spends. So its just that the partners are shuffled for this year.
While this is not an amazing offer as such, anyway businesses have these type of spends, so it doesn’t hurt to route the spends here for better returns.
It’s finally good to see American Express showing 2X interest in Corporate Credit Card segment. Hope to see more such offers on business cards in future, as this is an untapped segment for card companies, for now.
I was hoping this segment to get some traction in India by 2020 but the Virus destroyed the dreams of many and now we will have to wait till 2022 to see some promising business credit card products in India.
Until then, what’s your thoughts on this new Amex Corporate Card Offers? Feel free to share your thoughts in the comments below.