There will be a hard pull, but business credit cards will not show on your personal credit report. Hence you can open and close accounts, open more new accounts, and max your credit limit without worrying about your credit report. The $250 bonus is worth a hard pull in my opinion.
Here’s the fine print from American Express:
Apply for the Business Gold Rewards Card and make a purchase by 12/31/07. Upon the Basic Cardmember’s first purchase, a one time bonus of 25,000 points can be earned toward the Basic Business Gold Rewards Cardmember’s Membership Rewards® account and may appear as separate credits of 5,000 and 20,000 bonus points. The maximum 25,000 bonus points are available to first–time Basic Business Gold Rewards Cardmembers only; they are not available if you transfer an existing account. Welcome bonus points will be credited to your Membership Rewards account 6 to 8 weeks after your first purchase appears on your monthly billing statement. The bonus 25,000 Membership Rewards points may be redeemed for one domestic round–trip airline ticket.
The 25000 points bonus is a limited time offer. Just like the $250 Chase bonus, take advantage of this offer and apply right away.
For more information, check out Hustlermoneyblog for all credit card bonuses.