American Express recently released a new small business card featuring cash back rewards on everyday purchases.
For no annual fee, the American Express® Blue Business Cash Card offers 2 percent flat cash back on up to $50,000 in purchases per calendar year and 1 percent thereafter. (See Rates & Fees) Cash back rewards are applied to the cardholder’s account as a statement credit.
For business owners interested in paying off debt or a large purchase, the card offers a 12-month zero percent introductory APR on purchases and balance transfers (14.74 – 20.74 percent variable APR based on creditworthiness thereafter). (See Rates & Fees)
“At American Express we understand that no two businesses are alike, and entrepreneurs are looking for different business solutions depending on their specific needs,” says Brett Sussman, vice president, global commercial card lending at American Express.
While the Blue Business Cash Card does come with a credit limit, American Express allows cardholders the flexibility to spend over their credit limit each month with no over-limit fees. The amount cardholders are allowed to spend over their limit varies based on card use, their payment history and other factors.
If a business makes a large purchase on the card and needs extra time to pay it off, cardholders can request that AmEx pay the bill up front and choose a 30, 60 or 90-day plan in which to pay the purchase back. To qualify, the cardholder must have owned the card for at least six months.
The Blue Business Cash Card also offers American Express® Business App and Connect to QuickBooks® services to help small business better track finances.
What this means for cardholders
“The product is designed to be a clear and simple tool to help business owners run their business — without worrying about category restrictions,” says Sussman.
The Blue Business Cash Card allows small business owners to take control of their spending with its various perks promoting purchase flexibility and finance management.
“We launched the Blue Business Cash Card to help alleviate some of the most common pain points of running a business so that business owners can concentrate on growing their business,” says E-Bai Koo, executive vice president, global commercial services at American Express in the release.
Compare the Blue Business Cash Card to other small business cards by exploring Bankrate’s guide to the best business credit cards of 2020.