The American Express Blue Business Plus

Why Business Class Gets All the Perks

by: RICH with POINTS, Nov 18, 2024

Picture this: you're squeezed into economy, clutching your tiny bag of peanuts, watching flight attendants pour free champagne behind the curtain. That's exactly how American Express treats personal cardholders when it comes to everyday spending rewards. The Blue Business Plus card has become the missing piece that exposes a glaring truth: Amex is keeping all the good stuff for their business-class customers, leaving regular consumers scrambling to fill gaps with competitors' cards.

Card Overview

The American Express Blue Business Plus represents both the best and most frustrating aspects of the Amex ecosystem. It's the card that makes the famous "Amex Trifecta" possible—yet it's the only major credit card trifecta that requires business ownership to complete. This isn't just unusual; it's unprecedented among major issuers and suggests a fundamental misunderstanding of their customer base.

Key Card Features

• Sign-Up Bonus (and Limited-Time Offers if Applicable): 15,000 Membership Rewards points after spending $3,000 in the first three months of card membership. Unlike other Amex cards where elevated offers frequently appear, the Blue Business Plus consistently maintains this standard bonus—take it or leave it.
• Annual Fee: $0, making it one of the most valuable no-fee cards in the transfer partner ecosystem.
• Has Foreign Transaction Fee?: Yes, 2.7% foreign transaction fees—a significant drawback for international spenders that limits its utility as a true global everyday card.
• Has Access to a Travel Portal for Redemption?: Yes, Membership Rewards points can be redeemed through Amex Travel at 1 cent per point baseline value.
• Has Access to Transfer Partners for Better Value on Points Redemption?: Yes, full access to all 21 Amex transfer partners (18 airlines + 3 hotels), making the 2x earning rate effectively worth 4x+ when optimized properly.

Spending Categories

The Blue Business Plus's earning structure is refreshingly simple—and therein lies both its power and Amex's strategic blind spot:

• 2x points on all purchases up to $50,000 per calendar year
• 1x points on all purchases after the $50,000 threshold

This uncapped category earning covers everything the Gold and Platinum cards miss: gas, groceries (beyond the Gold's grocery cap), utilities, insurance, general retail, and countless other everyday expenses. It's the foundation every wallet needs—yet Amex reserves it exclusively for business customers.

Effective Earnings

Using The Points Guy's current valuation of 2 cents per point for Membership Rewards (achievable through strategic transfer partner redemptions), the effective earning rates become compelling:

• All purchases (up to $50,000): 4% effective return (2x at 2cpp)
• All purchases (after $50,000): 2% effective return (1x at 2cpp)

However, without achieving 2+ cents per point through transfer partners, you're looking at just 2% and 1% respectively—decent but not exceptional for a card demanding business ownership.

Card Benefits

The Blue Business Plus focuses on earning rather than perks, offering minimal but adequate protections:

• Secondary Auto Rental Collision Damage Waiver: Standard coverage for rental car damage or theft when the card is used for payment.
• Purchase Protection: Coverage against damage or theft for eligible purchases.
• Extended Warranty: Adds an additional year to the manufacturer's warranty on eligible items.
• No Preset Spending Limit: Flexible purchasing power based on payment history and financial resources.

Notably absent are travel benefits, lounge access, or statement credits—this is purely a points-earning workhorse.

Expert Tip: The Blue Business Plus serves as the perfect "points parking" card for the Amex ecosystem. Since it has no annual fee, you can keep it indefinitely to preserve Membership Rewards points even if you cancel premium cards like the Gold or Platinum during lean travel years.

Application Rules

Take these with a grain of salt—application rules vary, and community data points are valuable for understanding current enforcement:

• Amex 1/10 Rule: One bonus per specific card per lifetime, though "no lifetime language" offers occasionally circumvent this.
• No Credit Report Impact: Business cards typically don't appear on personal credit reports, preserving your 5/24 status with other issuers.
• Amex 4-Credit-Card Rule: Approval may be declined if you already hold four Amex credit cards (charge cards don't count).
• Amex Family Rule: May prevent approval for this card if you've received bonuses on higher-fee Amex business cards first—start with zero-fee cards and work your way up.
• No Second Business Rule: Some data points suggest you cannot get this same card for a second business (YMMV).
• Amex 3/90 Rule: Potential decline if applying for a fourth Amex card (any type) within 90 days.

Points System

Membership Rewards points are the backbone of Amex's value proposition, but optimization is absolutely critical:

• Travel Point Value: 2+ cents per point via transfer partners (requires research and strategic booking)
• Travel Portal Value: 1 cent per point baseline
• Cash Value: 0.6 cents per point (avoid this redemption method)
• Gift Card Value: Varies, typically around 1 cent per point

Transfer Partners

The Blue Business Plus provides access to Amex's full suite of 21 transfer partners:

• Airlines (18): Including British Airways Avios, Singapore KrisFlyer, ANA Mileage Club, Delta SkyMiles, Flying Blue (Air France/KLM), and others offering premium redemption opportunities
• Hotels (3): Hilton Honors, Marriott Bonvoy, and Choice Privileges

Expert Tip: Target transfer bonuses to Hilton (often 1:2 ratios) since Hilton points are generally valued at ~0.5 cents each, making the bonus transfers extremely valuable.

Related Cards in the Same Points System

• Personal Cards: Platinum ($895), Gold ($325), Green ($150), and various co-brand options
• Business Cards: Business Platinum ($895), Business Gold ($375), Business Green ($0)
• Investment Versions: Charles Schwab Platinum and other investment account variants

Card Comparisons

The Amex Trifecta Problem

Here's where the Blue Business Plus reveals Amex's strategic flaw. The commonly referenced "Amex Trifecta" consists of:

• Personal Gold Card (4x dining, 4x groceries)
• Personal Platinum Card (5x airfare, hotel portal bookings)
• Blue Business Plus (2x everything else)

This is the only major trifecta requiring business ownership. Compare this to:

• Chase Trifecta: All personal cards (Sapphire Preferred/Reserve + Freedom Unlimited + Freedom Flex)
• Capital One Duo: All personal cards (Venture X + SavorOne)

The Personal Customer Gap

Without the Blue Business Plus, personal Amex customers face a stark reality:

• Gold + Platinum combination: Earns just 1x on gas, utilities, insurance, general retail, and countless everyday categories
• Missing coverage: No catch-all card means leaving money on the table or seeking other banks' 2% cards

This forces optimization through competitors:

• Capital One Venture X (2x everything, $395 fee)
• Chase Freedom Unlimited (1.5x everything, no fee)
• Citi Double Cash (2x everything, no fee, but requires Strata Premier for optimal redemptions)

Wallet Performance Analysis

Using a typical spending profile, here's how wallets perform in Year 2 (after sign-up bonuses):

Amex Trifecta WITH Blue Business Plus: ~$1,900+ net value Amex Personal Only (Gold + Platinum): ~$1,200+ net value Chase Trifecta: ~$2,400+ net value Capital One Duo: ~$1,800+ net value

The gap widens dramatically when Membership Rewards redemptions drop to travel portal rates (1 cent per point)—Chase pulls ahead by $3,000+ annually.

Final Thoughts

The Bottom Line: The American Express Blue Business Plus is simultaneously one of the best and most problematic cards in the current market. It's an exceptional product that exposes a fundamental flaw in Amex's consumer strategy.

Stop Treating This as Normal: No other major issuer forces customers into business ownership to complete optimal spending coverage. Chase, Capital One, and even Citi offer comprehensive personal card lineups without requiring business credentials.

The 2+ Cents Per Point Imperative: Without achieving premium redemption values through transfer partners, the Blue Business Plus becomes merely adequate. Master transfer partner optimization or avoid the Amex ecosystem entirely.

Who Should Apply:

• Business owners who can legitimately apply for business cards
• Entrepreneurs with side hustles generating business income
• Amex ecosystem enthusiasts willing to optimize transfer partners
• Anyone needing a no-fee card to preserve Membership Rewards points

Who Should Avoid:

• Personal customers seeking simplicity
• Those uncomfortable with business card applications
• International spenders (due to foreign transaction fees)
• Anyone unable to consistently achieve 2+ cents per point redemptions

The Strategic Question: Why doesn't American Express offer a personal equivalent to the Blue Business Plus? A 2x everything personal card (even with a $25,000 annual cap) would complete their ecosystem and prevent customer defection to competitors. Instead, they're effectively encouraging personal customers to build multi-bank relationships—a puzzling strategy for a company built on customer loyalty.

The Blue Business Plus can be brilliant for those who qualify and optimize properly. But its very existence highlights how American Express seems to view personal customers as second-class citizens in their own ecosystem. Until they address this gap, they'll continue hemorrhaging everyday spending to competitors who understand that comprehensive coverage shouldn't require pretending to own a business.

Expert Tip: If you're determined to enter the Amex ecosystem but lack legitimate business income, focus on developing a side hustle first. Gig work, freelance consulting, or selling items online can provide the business foundation needed to access their best cards—and the additional income doesn't hurt either.