![]() ![]() So naturally, I just acted as if I make $45,000 charges to my credit card every day. But to my surprise, the transaction went through just as quickly and easily as if I was buying a new pair of wiper blades. I was actually expecting the terminal to reject the transaction and to display some unusual code asking the dealer to contact American Express for verification. He entered the sales price into his credit card terminal and turned it over to me to insert my card. After signing all manner of forms and disclaimers that are standard with any new vehicle purchase, my account manager saw the salesperson's note that I would be paying by credit card. OK, thank you!"Īt the dealer the next day, the process couldn't have been any easier. But once I got through to a representative, the conversation went something like this: Me: "I'd like to see if it might be possible to use my American Express Business Platinum card to purchase a new vehicle for approximately $45,000." American Express: "Yes, you're approved." Me: "Wow. In fact, I was expecting to be asked a lot of probing questions about this unusually large purchase, and about the current state of my finances. When making the call to ask for pre-authorization, I had a feeling similar to applying for a home loan. To receive those points, you'll have to be a little bit patient, considering the complicated way Amex awards Membership Rewards points.īefore I attempted to charge nearly $45,000 to my card, I thought it was a good idea to first contact American Express and see if it would even approve the transaction. So if successful, this charge would result in 67,230 points, worth $1,345, or 3% of the total sales price of the car. According to TPG's latest monthly valuations, American Express Membership Rewards points are worth 2 cents each. With that in mind, I called American Express to ask if they would be willing to approve a charge of $44,819.98, which was the out-the-door price of our minivan including tax, tag and title fees. This works in your favor, as American Express will approve each charge on a case-by-case basis.Ĭurrently, the Business Platinum card is offering a welcome offer of 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card within the first three months of card membership.Įarning this bonus, worth a generous $3,000 according to TPG's latest monthly valuations, might normally be a challenge, but it can be done in a single transaction - especially if you're buying a new car. The Business Platinum, like the consumer version, has no preset spending limit. The American Express Business Platinum is already on TPG's list of best cards for large purchases, as it offers you 1.5x points on eligible purchases in select business categories and eligible purchases of $5,000 or more on up to $2 million of these purchases per calendar year. What better to do with a brand-new minivan than take a road trip to Estes Park, Colorado? (Photo by Jason Steele/The Points Guy) Choosing the right card ![]()
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