Point Hacks Credit Card Guide

American Express Business Accelerator Guide

Note: This card is no longer available to new Card Members, we have kept this guide up as reference for existing Card Members.

The American Express Business Accelerator is a useful 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, uncapped.

As such, the Business Accelerator is a good points-earner. When earning 2 Membership Rewards points per $1, 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
Points earned from spendEarn 2 Membership points points per $1 spent on all purchases, except those in the 1 point category
1 point per $1 on government transactions
Points capNone
Earns points at ATOYes - 1 point per $1
Overseas transaction fee3% of the converted amount
Annual fee$160

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
  • Marriott Bonvoy

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

There’s an annual fee of $160, which is 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 high earn rate of 2 Membership Rewards points per $1 spent on the card including on utilities and insurances as a sort of bonus – and one which accrues slowly over time as you spend, with no minimum spend requirements on an ongoing basis.

As with other American Express Membership Rewards cards, points are reduced to 1 point per $ for all government transactions like paying your tax with the ATO.

However, services like RewardPay allow you to pay your ATO bill with a surcharge, but earning full points on your American Express card. The 2 points per dollar earned with Business Accelerator makes it a great candidate for using with RewardPay.

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 – or take longer if you have a particularly complex business set up.

Other benefits of the American Express Business Accelerator

The Business Accelerator is really all about the high earn rate on spend.

Outside of the points, you can have have additional Card Members 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.

American Express Apple Pay & Android Pay support

American Express cards support both Apple Pay & Android Pay, meaning you can use this Card on your smartphone for easier payments. Find out more in our guides for each of the compatible services.

American Express Business Accelerator Guide was last modified: April 15th, 2019 by Daniel Sciberras

Summing up – American Express Business Accelerator

This is a card for those looking to silo their small business expenses into a separate 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.

American Express Business Accelerator Guide was last modified: April 15th, 2019 by Daniel Sciberras

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  1. J Li

    it’s no longer available to apply… do not know why…

    Plus, you are not correct about this card from 15th April 2019 changes.
    the point cap will be removed after 15th…

  2. David

    I’ve always wondered why people don’t rave about this AMEX Business Accelerator card?

    TWO Velocity/Kris/Asia/etc points per $ spent. Sure, it never has a good sign on bonus however you could get the Explorer (for the sign on bonus) and the Business Accelerator for ongoing spend earning 2 vs 1.5 FF points per $.

    If you spend $50k through the card per year that’s an extra 25,000 Velocity/Kris/Asia/etc points each year for $160. After the first year you would then get rid of the Amex Explorer and it’s $395 yearly fee.

    It says you’d need a business but it’s free/easy to get a sole trader ABN for those who don’t already.

    Any thoughts on why this isn’t as popular?

    • Adam

      Exactly my thoughts David? I got the Business Explorer sign on bonus last year of 100k (only gateway points) then signed up for the Business Accelorator (Ascent points) and got a 10k sign on bonus for that too.. Then have just used the Accelerator for all purchases.. I plan to transfer out the points on the Explorer to Krisflyer before the yearly fee comes up again next month and cancel that card..

      I too wonder why this card isn’t more popular, particularly for small businesses?

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