Can I use a personal Amex platinum for business?

[random111]

As title suggests, can I use my personal amex platinum for business expenses and continue to earn points at the 2.25 per annum?
Will this set off alarm bells at amex or do I risk not recieving points / points per dollar are reduced?

Thanks!!

 

[sudoer]

It comes down to volume and what personal income you've declared to Amex.

Large volumes run the risk of triggering a financial review.

 

[random111]

It comes down to volume and what personal income you've declared to Amex.

Large volumes run the risk of triggering a financial review.

thanks
so allowed to but if I do process large volumes they may be concerned I wont pay off card each month?

I only reported my salaried income but did not report my business income (was that even possible? cant remember now!)

My businesses will have spend of ~$200k per month that I was hoping to put on amex...

 

[Jacques Vert]

My businesses will have spend of ~$200k per month that I was hoping to put on amex...

Perhaps you should look at one of the Amex Business cards.

 

[elanshin]

thanks
so allowed to but if I do process large volumes they may be concerned I wont pay off card each month?

I only reported my salaried income but did not report my business income (was that even possible? cant remember now!)

My businesses will have spend of ~$200k per month that I was hoping to put on amex...

Initially you'll probably get away with it for a little bit. But very quickly they'll start asking questions. Then probably ask you to apply for the business card.

You won't be putting 200k a month through a personal card for many months before they ask whats going on.

 

[dein_gesicht]

Like others have said, it is always a risk but I think most people put biz spend on their personal card

 

[Sprucegoose]

Will this set off alarm bells at amex

Amex, like all big firms and organisations that are public-facing, uses algorithms to detect unusual or unplanned activity.

 

[random111]

Thanks all
in the centurion thread, few people stating they spend >$200k per month, assuming that was on a business card as opposed to personal based on the feedback here?

 

[sudoer]

in the centurion thread, few people stating they spend >$200k per month, assuming that was on a business card as opposed to personal based on the feedback here?

Some have also said they were hit with a financial review and now have a $30k monthly limit....

 

[Doctore1003]

I’ve gone through patches of putting $100k+ per month of business expenses on my personal Amex Platinum and no one has ever asked a question, except one time when I got close to my informal limit on the card and they gave me a call to tell me to deposit some cash.

 

[random111]

I’ve gone through patches of putting $100k+ per month of business expenses on my personal Amex Platinum and no one has ever asked a question, except one time when I got close to my informal limit on the card and they gave me a call to tell me to deposit some cash.

oh thats interesting, i'd only be using the card for points, the cash is there and available...wondering if I process the payment through the card but paid same or next day if that'd be an acceptable mitigation

Post automatically merged: Jul 16, 2024

Some have also said they were hit with a financial review and now have a $30k monthly limit....

that's why i'm asking I guess
a. i'm new to this
b. don't want to break any rules

 

[random111]

Perhaps you should look at one of the Amex Business cards.

Dont want to go through the hassle again if I dont have to of changing cards on DD etc.

Will do that if I have no other option I guess as potential for 5m points is tempting and i hadn't really considered putting business expense through the amex when we got it earlier this year...

Not sure it'd make sense to have a personal platinum and a business patinum, only marginal benefits for having two primary holders, some that will help given we have 3 kids but it'd be hard to justify!!

 

[elanshin]

Dont want to go through the hassle again if I dont have to of changing cards on DD etc.

Will do that if I have no other option I guess as potential for 5m points is tempting and i hadn't really considered putting business expense through the amex when we got it earlier this year...

Not sure it'd make sense to have a personal platinum and a business patinum, only marginal benefits for having two primary holders, some that will help given we have 3 kids but it'd be hard to justify!!

The other really big benefit is keeping your accounting much cleaner. Having a separate business card to personal card helps a lot with this. (Even if its sole trader and everything is reported as personal at the end of the day).

Also you get another big dollop of sign up bonus.

 

[random111]

The other really big benefit is keeping your accounting much cleaner. Having a separate business card to personal card helps a lot with this. (Even if its sole trader and everything is reported as personal at the end of the day).

Also you get another big dollop of sign up bonus.

Cheers that's another added benefit about record keeping

I'd have to put the card in a different primary holder name to get the bonus right? Assuming they haven't held an Amex in last 18 mths?

 

[elanshin]

Cheers that's another added benefit about record keeping

I'd have to put the card in a different primary holder name to get the bonus right? Assuming they haven't held an Amex in last 18 mths?

I don't think so. The holder would mainly be the entity with you as the primary card holder i think that's different to personal, but you can check with amex about that.

Also probably see if you can use someone's referral, just more points all around.

 

[andye]

If you were considering both cards and kept expenses separate, you could probably* tax-deduct the Business annual fee

*after discussion with accountant etc

 

[lovetravellingoz]

My businesses will have spend of ~$200k per month that I was hoping to put on amex...

I hope you had your own income down as several $million then.

 

[Doctore1003]

I don't think so. The holder would mainly be the entity with you as the primary card holder i think that's different to personal, but you can check with amex about that.

Also probably see if you can use someone's referral, just more points all around.

Actually, Amex business cards are in an individual person’s name (not a company or trust). It’s the Director or “Controller”. And if that person has an Amex already, you won’t get bonus points.

Corporate cards can be in a company name, but they are for larger businesses, not SMEs.

 

[albyd]

Some have also said they were hit with a financial review and now have a $30k monthly limit....

Centurion is personal only in AU there’s no business variant.