Earn 15,000 Free Amex Points with Bluechain: A Quick Win for Business Card Holders?

American Express and Bluechain have just launched an exciting new promotion that caught my eye. If you hold either an Amex Business Gold or Platinum card, you can earn 15,000 bonus Membership Rewards points by paying £3,000+ worth of invoices through Bluechain before 12th February 2025.

For those unfamiliar with Bluechain, it's a payment platform that allows businesses to pay invoices using their credit cards, even to suppliers who don't typically accept card payments.

Let's Break Down the Numbers

Before getting too excited about the bonus points, let's look at the actual cost:

• Minimum spend required: £3,000

• Bluechain fee for Amex: 2.3%

• Total fees: £69 (2.3% of £3,000)

What you'll earn:

• 15,000 bonus Membership Rewards points

• Regular card earnings (1 point per £1) = 3,000 points

• Total points: 18,000 Membership Rewards points

Is It Worth It?

This is where it gets interesting. Those 18,000 points are worth:

• £90 if redeemed for statement credit (0.5p per point)

• £180+ if used strategically for travel (1p+ per point)

So even at the most basic redemption rate, you're looking at:

• Cost: £69

• Value: £90

• Net gain: £21

If you're savvy with your points and use them for travel (which I typically recommend), the value proposition becomes more attractive:

• Cost: £69

• Value: £180+

• Net gain: £111+

You can maximise your redemption value by using our Smart Redemptions tool to find the best value flights for your points.

How to Take Advantage of This Offer

If you decide to proceed, the process is straightforward:

1. Add your Amex Business Gold or Platinum card to your Bluechain account

2. Enrol your card in the offer (within American Express’s card offer page)

3. Pay £3,000+ worth of bills through Bluechain using your enrolled Amex card before 12th February 2025

Important note: This offer is limited to the first 1,000 people who enrol.

Strategic Considerations

While the numbers show a positive return, consider:

1. Cash Flow: The 2.3% fee needs to be paid upfront, while the points value is realised later

2. Alternative Methods: Check if your suppliers accept direct card payments - this would earn you points without the extra fee

3. Tax Deductibility: The Bluechain fees should be tax-deductible as a business expense, potentially improving the value proposition (consult your accountant)

My Take

After crunching the numbers, I view this as a moderate opportunity rather than a must-do. While you can come out ahead, particularly if you're good at maximising point values through travel redemptions, the margins aren't as exciting as some other points-earning opportunities we've seen.

That said, if you:

• Already have payments to make

• Are building up points for a specific redemption

• Can comfortably manage the fees

• Will use the points for high-value redemptions

...then it could be worth considering. Just remember to move quickly given the 1,000-person limit on this offer.

Don't have an Amex Business card yet? You can apply here and potentially combine this with a welcome bonus for an even bigger points haul.

I'd love to hear your thoughts on this promotion. Would you pay £69 to earn 18,000 Membership Rewards points? Let me know in the comments below!