Earn 1% cashback on business expenditure
This guide will show you how to make the most out of your ad spend on platforms such as Google Ads, Microsoft Ads and Facebook.
Quote Goat uses PPC advertising, as a result we have been looking for ways to maximise any incentives and cashback offers we can when it comes to paying our advertising bills and other costs. Our first thought was to use a business AMEX card to pay our ad spend bills. This works well and can be very rewarding, however, we also wanted to find out whether it is possible to pay the balance of an AMEX card using a cashback business debit card. After looking into this, most of the cashback deals on offer ended up not being suitable. This has led me to write this guide to save you time researching options and eventually arriving where we got to which is earning 1% cashback through JUNI whilst also earning AMEX points which are valued at up to 1.5% of your spend.
Please note that Quote Goat will earn a referral fee should you decide to follow this guide. As an added benefit you will receive an additional bonus at AMEX by signing up through the links below.
If you too want to maximise the rewards you can earn with all of your card-based business expenditure, read on to find out how.
Step 1: Set up an AMEX card.
It may come as a pleasant surprise for you that your ad spend can be paid for with an AMEX card. Not only does this have the benefit of accruing AMEX points, but you also have up to 56 days to pay your AMEX balance, helping with cashflow.
As well as ad spend, your AMEX can be used for a multitude of purchases made through your business, this may include suppliers/service providers that allow you to pay your invoices with a card (if they have enabled AMEX as a payment option). As an example, we pay agency costs with an AMEX each month, accruing points to spend how we please.
When it comes to choosing which AMEX is right for you, the Gold business card and the Platinum business card are two good options depending on the amount that you spend each year. The Gold card has an annual fee of ~£175 (at the time of writing in May 2023) and the platinum card has an annual fee of ~£650 (again at the time of writing in May 2023). There are a number of additional benefits that come with the platinum card, including a bonus 10,000 points each month when you meet the minimum spend requirements.
When redeeming points, the value of each point will depend on what you purchase with those points. If you book flights you may be able to make each AMEX point worth as much as 1.5p per £1 spent. In contrast you could simply choose to reduce your AMEX balance with your points which would be redeemed at around 0.45p per £1 spent. For a business that has an applicable annual expenditure of £100,000, this would equate to anything from £450 to £1500 a year of rewards.
However, despite AMEX rewards being a great bonus, we set out to see if we could maximise our rewards further, which leads us to step 2.
Step 2: Set up a JUNI account.
JUNI are a European company that pay 1% cashback on all of your debit card spend, crucially including cashback when paying your AMEX bill. This is a key differentiator to many other debit card cashback offers that we explored, whereby payments to financial institutions are not applicable for the 1% cashback offer. JUNI also pay uncapped cashback whereas many other companies will cap the cashback, sometimes at levels that only cover the cost of their membership fees for special cashback earning accounts, e.g. TIDE.
JUNI does not charge a fee for having an account.
Once you have set up a JUNI account, which can be approved in a matter of minutes (such as was the case with our application), you can create a virtual debit card. After creating this card, you simply add it to your AMEX account, as you would with your business bank card, and pay your AMEX balance each month to earn 1% cashback.
In the case of the example business, they would now be earning £1000 cashback each year from JUNI plus anywhere between £450 and £1500 in rewards from AMEX.
