Posted by William Charles on May 8, 2019
Bank Account Bonuses

Published on May 8th, 2019 | by William Charles

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[Expired] [TX only] AmegyBank $1,750 Business Credit Card, Checking, Money Market Bonus

The Offer

No direct link, being offered in branch

  • Amegy Bank is offering bonuses of up to $1,750 for business customers. Bonus is broken down as follows:
    • Get $1,000 when you are approved for any AmaZing business visa credit card and spend $7,500 within the first 90 days
    • Get $500 when you open any business checking account within 30 days and keep the account active for 90 days
    • Get $250 when you open  a business money market account ($1,000 minimum)

The Fine Print

  • Valid until June 30th, 2019
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Business Inspire ($8 Monthly Fee)

This account has a $8 monthly fee that is waived if you do either of the following:

  • Maintain a minimum daily balance of at least $1,000
  • Conduct $1,000 or more in transactions (debits or credits) per statement cycle

Business Money Market

This account has a $12 monthly fee that is waived if you do either of the following:

  • Link to a qualified business checking account
  • Maintain a minimum daily balance of $2,500

Early Account Termination Fee

Not sure if there is any early account termination fee or not

Our Verdict

You need to do the credit card bonus to be able to do the checking & money market account. The deal itself is great if you live near a branch and can complete the spend required for the credit card bonus. Not sure if there is any hard/soft pull for the checking/money market account but even if there is they should just do one for the credit card and the money market/checking account. I wonder if this is also available at other brands that offer the AmaZing card.

Hat tip to Perry B

Useful posts regarding bank bonuses:



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Ann
Ann

Oh dang, I’m already in the middle of the CC-only promo, I wonder if it’s not too late to add this too.

Ann
Ann

Just heard back from my banker. Since I am still just barely within the 30 day period since the CC was opened, it can be added. (But I’m not actually allowed to do it without DBA/LLC though.) People past 30 days are out of luck without special treatment though.

Unclesam
Unclesam

Ann – It is extremely simple and easy to get a DBA certificate in TX. Just go to the city office and register a company in < 10 mins. It costs $20 for 8 years of registration. BTW are you in the DFW area. If so, which branch do you visit.

Ann
Ann

Yeah, I know it’s cheap, would be worthwhile monetarily but I’m shy about having my info published in the local paper and on their website. (They publish all the DBAs here.)

I’m closer to Houston than DFW, but not close enough to want to go in person. I’ve been calling one of the Houston-area branches.

Unclesam
Unclesam

WOW!!! This is an awesome offer. Unfortunately, I already got the credit card last fall so looks like I cant get the business checking and savings bonus. I have reached out to the branch manager to see if there is any exception to the 30 day rule possible.

akjohnny
akjohnny

what is the 30 day rule?

VS
VS

How difficult is it to get their business card? Any documentation asked? What was your x/24 status?

Ann
Ann

They definitely want documentation. If you don’t have DBA/LLC paperwork, and maybe even if you do, they’ll probably want to see your Schedule C.

Ann
Ann

FYI, looks like these have the same ‘gotcha’ that the personal accounts did: the cheapest / lowest-minimum checking account (Inspire) does NOT waive the monthly fee for the business MMA. Only ‘Business Connect’ ($10k min) or ‘Business Interest’ ($3.5k min) checking accounts are ‘qualified’ to waive the MMA fee. Otherwise you have to keep the $2.5k min in the MMA. See https://www.amegybank.com/business/business-checking/compare-checking-accounts/

Barry
Barry

Any Data points on Venmo Triggering the $7500 MSR? I live a hour away from a branch, but this seems like a too good of a deal to pass up.

Ann
Ann

IDK about Venmo but various bank account CC funding has been working fine, so that probably would too. Anything that doesn’t code as a cash advance should be fine, I’d expect.

PS: You could try calling your nearest branch and see if a banker there is willing to work with you via phone/email/fax to save the drive. I think they are incentivized for new accounts they help open.

Ann
Ann

And BTW regarding cash advances, the personal Amegy CC defaulted to $0 CA limit, and the business one did too unless you explicitly asked for more on the paper/pdf application form. So that was nice.

Barry
Barry

Thanks for the helpful info! Do you also know if the business CC count towards chase 5/24? Also how much is 175K points worth.

Ann
Ann

Points are equal to $0.01. No other redemption options. So it will be worth the $1,750 stated in the blog post if you complete all 3 parts.

You will just get a hard inquiry on your personal Experian credit report from Zions Management Srvc. The business CC will only appear as an opened account on your business credit report.

Sean
Sean

How long do you need to keep the checking and money market open for?

Ann
Ann

At least 90 days. When I did the personal version of this, I kept the MMA open for about 6 months, and still have the checking open (9 months so far), but I’m more slow/cautious than most here.

hardy
hardy

oops,
I just opened credit card & buss checking…

Let me call n check if they match the offer for me….

Bonbank
Bonbank

Does the Bus CC impact the 5/24 status?

akjohnny
akjohnny

nope… I didn’t get any notifications from credit Karma on the biz cc… I certainly did for the personal cc.

Wes
Wes

No

Ann
Ann

It should only report as an open account on your business credit report. Inquiry on personal Experian.

akjohnny
akjohnny

I got the $1000 biz cc offer last year and the $550 personal cc, checking and money market deal last year as well… but, this is why you have a 2nd player… to pick up on a sweet deal like this… I really wish they did separate deals that didn’t include a credit card… I don’t think they will give me a 2nd biz credit card…

Barry
Barry

Data point – Called a branch near me. The banker told me that I can apply for the credit card and checking account via the phone. However since the Money Market account is regional, I would have to go in branch to do that.

Almost a 3 hour round trip just to get $250 might not be worth it for me. But, I’m still debating on that. Hopefully this data point is useful for those who live far away from a branch like myself.

veeRob

Thanks, Barry. Closest branch to me is about 45 minutes away, but luckily I’ll be heading that way in about a month. So I’ll probably just wait until then.

John
John

Interesting – I called local branch in Dallas area and banker mentioned about $1K bonus for cc but not $500 bonus for biz checking.

VS
VS

Anyone got rejected by Amegy? So many people commented that they’re working on credit card bonus, so I guess it is not a strict bank about hard inquiries and number of open cards?

Ann
Ann

I don’t recall any rejections for that reason in the previous business and personal CC threads (I could be wrong, it’s not something I have to watch out for personally), but they are strict about making sure your business is legit. You can do the credit card without DBA or LLC, but needed to see my Schedule C from last year before approving; and apparently you can’t do the checking/MMA at all without DBA or LLC.

akjohnny
akjohnny

I got rejected in May last year due to too many inquiries for the $550 personal accounts bonus but then got a $29,900 bonus in October which is nuts for a sock drawer card… ymmv

Ann
Ann

* $29,900 credit limit… I wish the bonus was THAT large, lol 🙂

Do you know about how many inquiries you had at the time of the first attempt vs the second? For those who are borderline.

akjohnny
akjohnny

yes $29900 limit… I had a bunch of inquiries due to buying a car and the dealership went nuts doing hard pulls when I was already approved for a loan…. I also went nuts getting credit cards… I’m 18/24 for cards… plus a car loan… Im looking for my wife to get this biz bonus… too good to pass up.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Everything’s bigger in Texas

DB
DB

If we reside in another state but happens to be in a trip in TX can we still do this in branch?

joe
joe

Damn, im tempted to book a flight for 1750….

Ann
Ann

Try calling a branch first, you might not have to go in person.

Ann
Ann

The business credit card does not require a separate business entity (DBA/LLC/etc), but the business checking and MMA do.

Bonbank
Bonbank

How long did it take to get approved for the credit card?

Raol
Raol

Is it only for Local Tx residents or visitors from other state can get this deal too?

Ann
Ann

In the previous Amegy threads about the business CC-only deal and the personal accounts deal, IIRC there have been a few reports from out-of-state people succeeding. At least one who went in person (from Louisiana) and at least one who did it by phone/email.

Ann
Ann

* At least one before me, I mean; I only tried the personal bonus remotely after someone else found they were receptive to that approach.

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