Point Hacks Credit Card Guide

American Express Business Accelerator Guide – earn 2 Membership Rewards points per $ spent across the board on Amex’s entry-level Business credit card

American Express Business Accelerator - 2 points per $ up to 100,000 points yearly

The American Express Business Accelerator offers business owners and sole traders 2 Membership Rewards per dollar up to 100,000 points earned each cardholder year, with 1 point per $ earned after for an annual fee of $160.

  • 2 Membership Rewards points earned per $ spent everywhere (except for utilities, insurance and the ATO up to 100,000 points per year)
  • 1 Membership Rewards point earned per $ after 100,000 points earned in a year
  • $160 p.a. annual fee

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The American Express Business Accelerator is an interesting card for those looking to pick up a dedicated business credit card AND maximise their points earn.

The card is aimed at sole traders or small to medium size businesses, and of course you’d want to be sure you can put the majority of your transactions through an American Express to be able to take advantage of the points on offer.

If you can, then you’ll be able to earn 2 Membership Rewards points per dollar spent, up to 100,000 points per year (or $50,000 in spend, equivalent to just over $4,150 per month on average) after which the earn rate drops down to 1 Membership Rewards points per dollar.

As such, the Business Accelerator is a good points-earner. When earning 2 Membership Rewards points per $, you’ll be picking up points at a faster rate than most of American Express’ other cards on day to day spend – and that benefit is renewed each year you hold the card.

Card Details

CardAmerican Express Business Accelerator
Loyalty programAmerican Express Membership Rewards - can transfer to Velocity Frequent Flyer, Singapore Airlines KrisFlyer, Cathay Pacific Asia Miles and more
Points earned from spend2 points per $ up to 100,000 points, then 1 point per $ after
0.5 points per $ on government, utilities and insurance transactions
Points capNone
Earns points at ATOYes - 0.5 points per $
Overseas transaction fee3% of the converted amount
Annual fee$160

Effective Frequent Flyer Program Point Earn Rates

Frequent Flyer ProgramPoints earned from spend
Velocity Points2 points / $
Singapore Airlines KrisFlyer Miles2 Miles / $
Cathay Pacific Asia Miles2 Miles / $

American Express Membership Rewards is a great program for maximising the value of your points, and with the points earned from the Business Accelerator you’ll get access to transfer your points across to…

  • Virgin Australia Velocity Frequent Flyer
  • Singapore Airlines KrisFlyer
  • Cathay Pacific Asia Miles
  • Etihad Guest
  • Emirates Skywards
  • Starwood Preferred Guest

To name just a few! It’s a very versatile program.

There’s an annual fee of $160, which comparable to other similar cards in the market.

While there is typically no points bonus offered on the card for signing up, you could consider the 2 Membership Rewards points per $ spent for the first $50,000 on the card your equivalent to a 50,000 Membership Rewards point sign up bonus – but one which accrues slowly over time as you spend, with no time or minimum spend requirements, and renewed yearly.

That’s one of the key benefits of the card – the double points (up to 100,000 annually) are renewed year-on-year, so you’ll get to pick up the bonus points on an ongoing basis.

This is with your ‘cardholder’ year – so if you’ve spent over $50,000 on the card in the 12 months after your application was originally approved, your 2 Membership Rewards points per $ earn rate will be restored again.

As with other American Express Membership Rewards cards, points are reduced to 0.5 points per $ for government transactions like paying your tax with the ATO, and many utilities and insurance providers.

This reduces the opportunity for maximising the points earned with your card somewhat, but for all other spend, the 2 Membership Rewards points per $ is one of the highest earning earn rates for Membership Rewards points out there.

Business Accelerator Cardholder Requirements

The Business Accelerator is a business-specific card, although of course you could choose to use it for personal transactions.

You’ll need to have an ABN (sole trader is fine) or ACN to apply, and meet the following requirements:

  • Your ABN needs to be registered for GST, and active for 2 years
  • Your business needs to turn over at least $75,000 per year under the ABN you apply with
  • Your personal income needs to be $24,000 per year or higher
  • You’ll need to supply details of your registered business address and details of business directors, if any

American Express will then verify the supplied business information, which they can do from your supplied documentation or getting in touch with your accountant.

They will give you a call if they need any supporting info after checking out your business records from publicly available sources, like the Australian Business Register.

This all usually takes around 7-10 working days from application to approval, although can be quicker if you get all the supporting info in quickly.

Other benefits of the American Express Business Accelerator

The Business Accelerator is really all about the 100,000 bonus points on your first $50,000 of spend each cardholder year.

Outside of the points, you can have have supplementary cards linked to your account at no additional cost, meaning you can potentially give these to business partners or employees while you clock up the points.

Like many other American Express cards there’s up to 55 days interest free on your purchases, with the previous calendar month statement becoming due at the end of the following month.

You’ll also get detailed itemised, business-centric statement reports outlining GST paid on business expenses where possible, which could help at BAS or tax return time. Not all transactions will have GST outlined on your statement though so you may need to chase up a few receipts or invoices.

Finally, it’s also worth noting that the ‘Local Champion’ promotion, which earns you an additional point per $ at your most frequently shopped retailers, is not available with the Business Accelerator.

Eligibility criteria for bonus points for existing American Express cardholders

American Express are quite specific about whether existing cardholders will be eligible for bonus points if they apply for a card, are approved, and meet the minimum spend criteria.

Firstly, if you hold a bank-issued American Express – e.g. from Westpac or from ANZ – that alone won’t affect whether you’re eligible for bonus points with an American Express branded card offer. There’s more in our guide to this here.

Previously American Express allowed cardholders of different family types (e.g. Charge, Credit or Business) to be eligible for bonus points offers for cards in a different family. This is now not the case, with this eligibility criteria being redefined to all previous cardholders of any ‘card products’ now being ineligible for bonuses.

Summing up – American Express Business Accelerator

This is a card for those looking to silo their small business expenses into a seperate account, whilst still earning rewards points in a very useful rewards program currency, Membership Rewards.

If many of your suppliers take American Express, this is a viable card for small business owners to maximise their flexible rewards points program earn, and pick up extra Membership Rewards points each year as the bonus resets every cardholder year.

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