Update 9/21/19: Bonus available again. Hat tip to Astheworldchurnd
The Offer
- Bank Of The West is offering a bonus of 60,000 points after $5,000 in spend within 90 days on the Business Rewards Credit Card
Card Details
- No annual fee
- Card earns 2x points per $1 spent
- Assume it’s restricted to AZ, CA, CO, ID, IA, KS, MN, MO, NE, NV, NM, ND, OK, OR, SD, UT, WA, WI, WY
Our Verdict
Looks like points are worth 0.75¢ each. Can be redeemed for statement credit or cash, but looks like you need an account with them to see what those redemption options cost (0.75¢ each is confirmed for gift cards). Card doesn’t make sense to use long term as it’s basically 1.5% back on all purchases and other cards earn at a rate of 2%+. I’m not sure what business documents they require, but you can’t apply online directly (redirects to a page asking for contact details).
As the main issuers crack down on sign up bonuses with new complicated rules we’re going to need to start finding these smaller banks and understanding their processes. This is something we already do with great effect when it comes to bank account bonuses so I’m confident we can do it for credit cards as well. Readers might be familiar with Bank of the West already due to the bank account bonus offers they have.
Hat tip to reader Curmudgeon
I’ve been holding this card since June 2021, and it’s now getting transitioned to the BMO Harris Platinum REWARDS card per a letter I just got today from BMO Harris regarding the merger with BotW. I imagine the play is to cancel (or to call and “reject the new credit terms” which effectively forces closure) before then so I can stay eligible for the 50k/100k bonus on the BMO Harris card.
Any data points on if rejecting merger credit terms gives a better cash-out rate for leftover points (e.g. 1cpp) than redeeming for statement credit and then closing?
There is an online application currrently available. It seems to come and go. Sometimes they say you have to come in to the bank to apply.
So I got this card, but due to their calcuation methodology, I was a few days late on my spend to get the bonus. Instead I got 2x on all my spend and have 10,000 pts. Using it for travel rewards it appears they are worth 1.25 cpp, instead of only .75 cpp for statement credits. But has anyone actually used them for bookings?
Looking for a flight from TUL – DEN, I only see Fronteir (I refuse to fly them), UA, or AA with a connection. Do they not work with SW? Do any other points processors work with SW?
– Applied on 10/30/2019. Sole Prop biz.
– Met MSR on 12/15/2019 (Offer terms states bonus will post within 150days of account opening)
– Bonus posted on 02/19/2020
– Successfully cashed out 70,000 pts (ACH) $525 on 02/24. Pts are worth 0.75cents each.
Main Takeaways:
– According to comments, they are a bit strict on approvals. I also did their Biz checking bonus, and was automatically offered this offer which I am sure helped.
– HP on Experian
– Most people ask this: **It Does Not** report to personal reports. I checked all 3 bureaus.
Thanks for your work with this!
You applied in branch?
Did you need to jump through hoops to get the biz checking account opened?
I’m hoping they’ll be less strict in branch vs online. I’ve never been approved online.
“and was automatically offered this offer which I am sure helped.”
I was hoping that too, but a few weeks after I opened the business checking account in branch, I went back to ask and was told that I could not get this CC.
Just recently closed my bus. checking account (after receiving the bonus), so ndoubt my chances for this CC are any better now.
Thanks for the DP and tagging me though… 🙂
Bummer. Yeah, I think it will depend on your banker too. I had an overzealous banker who wanted me to sign up without me even asking.
Yes, I applied in branch. I suppose this will entirely depend on your banker. Not many hoops to jump through, just like any typical sole prop in person opening. Asked if I would be interested in the card while opening the biz checking account, I said yes, and he just asked some additional questions that were similar to the online app.
I opened the biz checking under sole prop last Oct and just spoke to my Universal Banker about this card. I was told it’s soft pull only. Not sure if that’s worthy to try.
How much business revenue did you report to get approved?
Alas! I got two of these cards! What happened is that I had applied online and proccesing the application. Then I visited a branch to open a business checking and then Manager told that I am pre-approved for this card. I said yes. Then both cards arrived in separate mails. Now asking advice –
Do you think the bank will give me bonus if I separately spend 5k by each of them?
What wil be my best strategy?
My question is – if someone uses same SSN but two different business names and gets two of this card within a week, then what is the best strategy. Chuck, any advice for your readers for this situation?
Should both the card spending reach $5k at the same day or time? So that getting bonus for one card will not nullify that of the others?
Did it report to your personal accounts?
Applied to and was rejected for this card today. Applied as a “business” through the online portal and called in via a number that a branch rep gave me to check the status of the application.
Central rep told me that my application went through, but that it wouldn’t proceed any further because $3k was not enough revenue and that it was internally flagged by the system as too little. No HP, and rep recommended I talk to a branch manager about the “business builder” funding (unsure if it’s a credit card) I can get from the branch.
I asked him about what I had to do to qualify for this card, as I hoped to increase my revenue past the $3k mark this year. He said that the system automatically flags anything under $50k revenue as “do not proceed” and rejects the application without a hard pull. He also mentioned something about there not being a duplicate application in the system, so applications definitely stay in there for some time (I would guess 30 days).
If you’re applying online as a “business”, I would recommend you:
1.) Have a “business” for at least 3 years, as otherwise it prompts you to go into the branch.
2.) Say at least $50k of revenue last year, although that may prompt them to require verification.
I opened up a Biz checking and was pre-approved for this CC so applied. I didn’t get a TU or EQ pull, but I’m not sure about Experian. The banker said I would be receiving the card in 7-10 days, but he didn’t confirm I was approved, so I wasn’t really sure. He seemed to think it would report to personal bureau so I took a chance.
Update: HP on Experian.
We really Need to know if this card will report as a new account and count against 5/24. Please let us know if you are approved.
From the biz checking page one comment said, “The process to sign up was pretty painless and I was pre-approved for the business credit card with a 60k point bonus after 5k spend. I declined since they stated it would show up on my personal report and I didn’t want to risk a 5/24 slot.”
This marks two people whose banker said it does report to personal BUT bankers can be wrong (my problems with U.S. Bank. Ugh.) so this data point from Ferris would be great once he finds out for sure.
I saw that, but was hoping for a real world data point, because few if any bankers I know really understand the FICO / credit reporting mechanics at a detailed level.
Any update on it reporting to personal report (and counting against 5/24) would be of great help… 🙂
It will take at least a full cycle for it to report. I did get approved, though.
Also, how much revenue did you report for your business?
Initial inquiry was 9-28. Statement cycle closed already and it’s not showing on my credit report. I’ll update in January as it’s possible it could be delayed in reporting.
I gave my approximate 2019 revenue estimate which was 6 figures.
Any updates on this?
Still hasn’t reported to personal bureaus. However, I met spending requirements on 11/13, 2 statement cycles ago and I haven’t received the bonus yet.
Any updates on the bonus posting and/or reporting to personal bureaus? Thanks!
It did NOT report to my personal credit.
does it report to personal credit report? Thanks!
On the page it says “For businesses in existence less than 3 years, visit a branch for credit card solutions dedicated to you.”
I dont think this one used to have an online app. Maybe its worth doing now.
Bank of the West is also offering a $300 business checking bonus for having at least a $3000 balance on the last day of each of the two full calendar months following account opening. 10 qualifying transactions required within the same two months.
https://www.bankofthewest.com/campaigns/small-business/business-checking
Thanks for posting this. I think it might be easier to start w/chkg acct than card if only have a “business.” I started the application process, but first step is to leave contact info and a Biz Banker will get back to me. Hope this doesn’t mean have to go in-branch to open, as nearest branch is 90-min drive each way.
Did you apply for the biz chkg acct?
I haven’t opened it yet. Will try tomorrow. From my experience all business checking accounts have to be opened in branch.
Also,
William Charles can you please make a post about the Bank of the West Business checking bonus? I don’t see a post on the website about it and I’m not sure how else to send you guys deals that I find. Thanks!
So, got an email back today saying that I’m not in their 19-state footprint (even tho I’m in AZ), so cant open an account. I think might be able to open if I made the 90-minute drive into closest branch, and if I happen to go there before 10/31 deadline, I might try.
Would be interested to know what kind of biz dox you need – must you have tax returns or is it ok to be a new “biz” w/no dox yet?
I resell items on Amazon. That has been fine for the purposes of a “business” in my past experience. Depending on the bank they might require a DBA (“doing business as”) or a fictitious name certificate to open a business account. I personally haven’t yet encountered a bank that requires tax returns. Just make sure you apply as a sole proprietorship (you can usually use your personal social security number instead of an EIN).
To get the DBA/fictitious name certificate it depends on where you live. They are either available at the county or state level. There is usually a filing fee which can range dramatically from 5 dollars to over 100 dollars.
I’ll let you know how my in-branch account opening goes tomorrow!
All I needed to open the account today in branch were my driver’s license and my social security number. I used my first and last name as the business name.
Whole process took about 1 hr.
Thanks for posting. If I have to go into the Big City I will try to open an account while I’m there.
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