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In both cases they linked their information to different sources. John Chow made a post linked to an article he’d read on Bankaholic.com, meanwhile Kumiko from CashQuests.com made her post based on a story she’d read on hustlermoneyblog.

The Deal

It’s funny because in both cases neither John nor Kumiko can make use of the offer as neither are resident in the US, and the deal they both mention is only for United States residents. The deal basically is that once you apply for an American Express Business Gold Reward Card and your application is accepted then American Express credit your Members Rewards account with 25,000 points which you may use to cash in for free flights, gift vouchers, hotel reservations, donations to charity etc. The Rewards scheme has loads of different offers available suited to almost anyones likes.

Of course American Express, as most credit card companies offer the first year free with an annual membership fee of $125 thereafter. John sneakily mentions that once you’ve used your points you can cancel the card at no cost and you’ve had a free trip.

My Experience

I actually have one of these cards and have had it for a few years now. Initially I took the card because of a similar signing up deal with the intention of getting rid of it, but I soon came to realise how useful American Express is and how much more flexible it can be compared to other credit cards on the market if you use it carefully. It can be really useful when making important purchases as there is no visable limit. The limit is decided by American Express through your usage and payment history. If you use the card regularly and pay up on time then they are extremely flexible on how much they allow you to spend.

Things you should know.

As the card is charged at the beginning of the month for the amount spent the month before you don’t acrue debt over a period of time and end up paying double or triple your spending in interest. American Express is probably the most recognised Credit Card company around and its down to the fact they don’t give easy credit over long periods of time. If you honour your debts they honour you with good credit when you need it. The important lesson is only to spend what you can afford to payback. So many people fall into the credit card traps, and with interest rates rising I’m sure many families will suffer the consecuences.

My recomendation is that if you can genuinely benefit from this card and could use it then don’t hesitate, but if you only want the card for the points and the free flight or voucher then you should think again. Taking credit cards for whatever reason, if you don’t really need them is the recipe for financial trouble.

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