Amex Business Checking (Watch Me Apply & Set-Up)

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  • Опубліковано 12 лис 2024

КОМЕНТАРІ • 133

  • @SpencerJohnsonOfficial
    @SpencerJohnsonOfficial  Рік тому +10

    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: ua-cam.com/video/2vQ5H0o1nTc/v-deo.html
    🎥 Amex Blue Business Plus: Get APPROVED With NO Business: ua-cam.com/video/G08XCEvU24I/v-deo.html
    What business checking account do you personally use? 👇🏼

    • @TyroneMaye
      @TyroneMaye Рік тому

      So what is the max amount of cash you can have in this account ? is it capped or is it unlimited amount that can be held kept in said account ???

  • @skoopqueen
    @skoopqueen Рік тому +29

    Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income...

    • @skoopqueen
      @skoopqueen Рік тому

      Indeed, successful investing often requires a solid foundation of knowledge. In my journey, I've found that having a trusted financial consultant is key, especially when it comes to selecting the right assets. I've been working with Regina Louise Collaro, an investment advisor associated with a licensed wealth management firm, and my financial experience has significantly improved. Her reputation in the industry is quite remarkable, and her guidance has led to financial stability and regular passive income. I highly recommend considering an experienced investment advisor for your financial goals.

    • @skoopqueen
      @skoopqueen Рік тому

      Regina Louise Collaro is based in the United States and can work with anybody wherever they stay. If you would like more information on reaching her, you can conduct a search online..

    • @ugojazzy7812
      @ugojazzy7812 Рік тому

      personally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does

    • @emeldcentor1474
      @emeldcentor1474 Рік тому

      I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot .
      This was of so much help to me.

    • @alharris4749
      @alharris4749 11 місяців тому

      BUT WHATS THE GOOD IN LIVING A FRUGAL AND PENNY PINCHING LIFESTYLE....IF YOU HAVE IT AND NEVER USE IT IS THAT NOT THE SAME AS NOT HAVING IT....

  • @Thecreditcardconnection
    @Thecreditcardconnection Рік тому +3

    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!

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +2

      Hahah that was definitely the slowest spinning wheel I've ever gotten. I'm glad we both experienced that together 🤣 Thank you for watching man!!

    • @Thecreditcardconnection
      @Thecreditcardconnection Рік тому

      @@SpencerJohnsonOfficial thank you for the heads up! I really appreciate it!

  • @TheCreditFrog
    @TheCreditFrog Рік тому +7

    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!!

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +1

      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!

  • @MattWelterOfficial
    @MattWelterOfficial Рік тому +8

    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!

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +2

      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!

    • @xbellabutterflyx
      @xbellabutterflyx Рік тому

      How are you liking the chase account?

  • @WealthOfOpportunity
    @WealthOfOpportunity Рік тому +2

    Was lucky enough to snag the 60k offer end of last year. This is a solid free account for any business owner !

  • @darlinesdiary
    @darlinesdiary Рік тому +3

    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.

    • @darlinesdiary
      @darlinesdiary Рік тому

      Btw Congratulations on your new business account.

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      Thanks for sharing your experiences with it! All data points are welcomed here, that's for sure. Thanks for the info on the redemption rate too!!

    • @michael_harren
      @michael_harren Рік тому

      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
    @MannyCovington Рік тому +5

    This is a great way to get some extra MR points without a hard pull!

    • @SledgeIncTeam
      @SledgeIncTeam Рік тому +3

      When I got it years ago, they didn't offer MR pts but they did have a welcome offer of $500 if you kept 10k in the account for 60 days

    • @MannyCovington
      @MannyCovington Рік тому +2

      @@SledgeIncTeam That’s interesting, which offer would you have preferred?

    • @SledgeIncTeam
      @SledgeIncTeam Рік тому +3

      @@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 🤔

    • @MannyCovington
      @MannyCovington Рік тому +1

      @@SledgeIncTeam Interesting!

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      I'm happy about it for sure!

  • @avinewmark
    @avinewmark Рік тому +2

    Can you send and receive money with Zelle with this checking account?

  • @blezz3d
    @blezz3d Рік тому +1

    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..

  • @jj-bu6yb
    @jj-bu6yb 11 місяців тому

    I have no idea why I did not subs but i am part of the fam! Great content!

  • @rafaelbalaguer9342
    @rafaelbalaguer9342 7 місяців тому +1

    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?

  • @AychefOfficial
    @AychefOfficial Рік тому +1

    I have Novo & Navy Fed, Thinking about getting this as welll.. Congrats!

  • @ItsMeCJ
    @ItsMeCJ Рік тому +3

    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”.

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      It's an interesting application and setup process for sure! It wasn't my favorite lol. But at least it worked out!

  • @feulert.5953
    @feulert.5953 Рік тому +2

    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!!

  • @Vanjo16
    @Vanjo16 Рік тому +1

    Great vid 👌, I just opened mines last week. Easy MR points bonus 😎

  • @Purpleshoes0114
    @Purpleshoes0114 11 місяців тому +1

    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

  • @edbailey9677
    @edbailey9677 Рік тому +3

    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😎

  • @JakeSpradlin2
    @JakeSpradlin2 Рік тому +2

    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!

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +1

      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!

  • @johnwick860
    @johnwick860 11 місяців тому +1

    do you recommend this over the Chase business checking acct? how does this compare to Axos & Grasshopper? thanks

    • @rudeboyrg
      @rudeboyrg 12 днів тому

      Axos is garbage. Site and app works very poorly. Half the time it's either down or takes long to get in. Feels like they are stuck in the 90s. Each deposit is 10 days to clear. Not just for new accounts. CSR - the few times I spoke to them wasn't too horirble. But their system is just a mess. I closed account with them. I hate chase. OPened account with them. Aside from having fees, etc, chase has the worst customer service known to mankind. Also you will always be speaking to some poorly trained person in Bangladesh. Their website is quite slick and they have the largest physical branch location network. But I don't want to go into a branch each time. It's not 1990. Unfortunately, because chase has such horrible service, you will be going there a lot. To open account, to change account, to deal with account issues. I opened account was told I had to go in person. Opened a second account a week later and again was told I have to go to a branch. Then was called to go BACK to the branch to make corrections. That is now three freaking appts with chase branch officer and I just barely opened account. Make inital deposit. Nice thing about chase is you can make large pull ACH transfers. I initiate a 100K pull (which is the stated limit). Chase just rejects it and then calls me after the fact to let me know. Foreign call agent says they don't know why. I make another 40K transfer. Again chase rejects it and they don't know why even though they are the ones rejecting it. They also remove the linked account. AMEX has best customer service. Schwab has great CSR. Chase is absolute shit.

  • @rossross6918
    @rossross6918 Рік тому

    Spencer do you have a video where you apply for business lime of credit?

  • @Iamstevenyang
    @Iamstevenyang Рік тому

    I'm thinking of doing this too. So for the 5 trasactions minimums, 5 qualifying deposits at $1k would meet the requirements?

  • @Hammzi
    @Hammzi 8 місяців тому

    what do you do for cash deposits

  • @rudeboyrg
    @rudeboyrg 12 днів тому

    Got approved for two of my LLC's because I selected "computer related." Approval took minutes. 3rd LLC, I selected holding company, got denied immediately automatically. I tried again under a different email and this time selected real estate - got denied again immediately automatically. I hear others are also getting denied and listing things like "retail" and other nonsense. AMEX doesn't like landlords or holding companies? Apparently don't like those who sell items online either. Always denied due to "we don't accept your industry." Wonder than what industry do they accept other than "computer related."

  • @proxbimcginley5085
    @proxbimcginley5085 Рік тому

    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.

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +1

      Thanks for watching man! I haven't looked too heavily into Cabbage at all but it may be worth reading up on!

  • @GPS_Limitless
    @GPS_Limitless Рік тому

    Congrats on going full time with your channel!👏

  • @jimmyjames6492
    @jimmyjames6492 Рік тому +2

    Thanks for the info + video!

  • @Noname-ly2lp
    @Noname-ly2lp 11 місяців тому

    I just said 30,000 only because the business is projected based off studies to do that but I just started will they ask about that ?

  • @CatacombMan
    @CatacombMan 2 місяці тому +1

    Amex business checking doesn’t have Zelle

  • @bucksavage3571
    @bucksavage3571 Рік тому

    Thanks Spencer for the great information.

  • @verychinnyapga1599
    @verychinnyapga1599 Рік тому +1

    What will I do without you credit card UA-camrs? I applied and got approved. Thank you.

  • @blezz3d
    @blezz3d Рік тому

    Is a personal charge card considered existing customer qualified or does it have to be a BUSINESS credit card?

    • @michellecandis
      @michellecandis 8 місяців тому

      it has to be a business credit or charge card...

  • @FlyinRyan31310
    @FlyinRyan31310 Рік тому

    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)

  • @carolinarico0724
    @carolinarico0724 8 місяців тому

    I don’t have 5k to deposit can I still get the debit card?

  • @michaeldowning7094
    @michaeldowning7094 Рік тому

    I have the personal checking account with the MR points earning debit card.

  • @JacobsPointsAndProfit
    @JacobsPointsAndProfit Рік тому

    I've seen the 60k offer before, but I wasn't ready to apply for it then. I'll have to keep an eye out for it if that offer ever comes back

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      I'd definitely look for that one! It would've been nice to get that but I didn't care to wait tbh...

    • @docsays
      @docsays Рік тому

      - thats sounds good. Remember what the offer required?

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      @@docsays I believe you had to deposit $10k or something. Mark Reese's vid covered it!

    • @docsays
      @docsays Рік тому

      @@SpencerJohnsonOfficial - cool. Thanks spencer

  • @krs1905
    @krs1905 Рік тому +1

    When you make payments from the Amex Business Checking Account to Amex for your credit cards bills it is almost instantly recognized.

  • @styleztheproducer6744
    @styleztheproducer6744 3 місяці тому

    So you have to have a business to really get this?

  • @100pluswit5
    @100pluswit5 Рік тому

    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 💪🏾

  • @SledgeIncTeam
    @SledgeIncTeam Рік тому +3

    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

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +1

      Yeah I feel you! That offer was pretty solid for you too. I'd prefer the points, but $500 cash aint bad!

    • @lienecarter6411
      @lienecarter6411 Рік тому

      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.

    • @SledgeIncTeam
      @SledgeIncTeam Рік тому +1

      @@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 😀

  • @corderoworldwide
    @corderoworldwide Рік тому

    Did anyone have to join the waitlist? if so how long is the wait?

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      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.

    • @mattchilds4149
      @mattchilds4149 Рік тому

      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

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      Thank you for the data point!!@@mattchilds4149

  • @DellaCusina
    @DellaCusina Рік тому

    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

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      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.

    • @DellaCusina
      @DellaCusina Рік тому

      @@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.

  • @krs1905
    @krs1905 Рік тому

    Amex is offering some current promotions if you open a Biz Plat Card and their Biz Checking Account then there are some elevated offers.

  • @meds-7923
    @meds-7923 Рік тому

    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.

  • @docsays
    @docsays Рік тому +1

    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!

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      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!

    • @Trezn
      @Trezn Рік тому

      @@SpencerJohnsonOfficialhard pull?

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому

      No it was just a business bank account so it should only be a soft pull. @@Trezn

    • @MidlifeMoneyMoves
      @MidlifeMoneyMoves 9 місяців тому

      @@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.

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  9 місяців тому +1

      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

  • @SuperNovember28
    @SuperNovember28 2 місяці тому

    I am a single owner without a llc and I was rejected

  • @ItsMeCJ
    @ItsMeCJ Рік тому

    Is it too late for me to be first? I don’t think so….so here it goes, FIRST!

  • @woodzy883
    @woodzy883 Рік тому

    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

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +1

      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.

  • @Zenichiro
    @Zenichiro Рік тому +1

    Great way to get Amex to approve some good business cards. Got BBP with a nice high limit after getting the business checking welcome bonus.

  • @verychinnyapga1599
    @verychinnyapga1599 Рік тому

    I saw this on my Amex portal but didn't know what it meant 🤣🤣

  • @berryzedzero
    @berryzedzero Рік тому

    Checking accounts are cousins to the game. I'll allow it, but remain cautious please.

  • @trancedrones
    @trancedrones 7 місяців тому

    FYI, you cannot apply for this if you already have a personal checking account with AMEX

  • @lancegray9573
    @lancegray9573 Рік тому

    💯💯💯💯

  • @SOXGATORS
    @SOXGATORS Рік тому

    👍🏻

  • @AhmadKhwajazada
    @AhmadKhwajazada Рік тому +1

    First!😊

  • @michaeldowning7094
    @michaeldowning7094 Рік тому

    I think they can afford to change these debit cards to earn 1 MR points per dollar.

  • @MPG2014
    @MPG2014 Рік тому

    Second

    • @SpencerJohnsonOfficial
      @SpencerJohnsonOfficial  Рік тому +1

      You're always here early! Thank you for that man! 🥈

    • @MPG2014
      @MPG2014 Рік тому

      Of course. I should be thanking you for the great videos you make! Got that notification bell on too so I can make sure to watch the videos.

  • @Instakhamz
    @Instakhamz Рік тому

    Got the 60k last time hoping that comes back so I can let people know

  • @blancoisaacsantiagoalonso9851

    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.

  • @CesarJoel
    @CesarJoel Рік тому

    Watching it again right now so I can get the 50k bonus 😂 Thanks again for the detailed info brotha!🫵