Amazon Business Prime American Express Credit Card review

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Annual Fee:
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Regular APR:
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Amazon Business Prime American Express Card: Best for cash back potential

  • Rewards rate: Earn 5 percent back on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market with an eligible Prime membership, 2 percent back at U.S. restaurants, U.S. gas stations and on wireless telephone services purchased directly from U.S. providers and 1 percent back on all other purchases (Note: Effective 10/1/2020, earn 5 percent back on up to $120,000 spent in 5 percent categories per calendar year, then 1 percent)
  • Welcome offer: Get a $125 Amazon.com gift card upon account approval
  • Annual fee: $0
  • Purchase intro APR: 14.24 percent to 22.24 percent variable APR for purchases, or forgo rewards for a 90-day zero percent APR on purchases
  • Balance transfer intro APR: N/A
  • Regular APR: 14.24 percent to 22.24 percent variable APR

Amazon Business Prime American Express Credit Card: Details and benefits

The Amazon Business Prime American Express Credit Card earns you 5 percent back on Amazon purchases and Whole Foods Market, but you also have the option of forgoing rewards for a 90-day zero percent APR on purchases (14.24 percent to 22.24 percent variable APR thereafter). This option can be fruitful for times when your business’ cash flow is tight and you would prefer to avoid interest payments for a while. Any other time, earning 5 percent back on Amazon purchases is a major advantage, especially since this is a higher rate than you’ll receive on Amazon purchases with other business credit cards.

The fact you can earn a $125 Amazon.com gift card upon account approval is another major bonus, plus the fact that you earn 2 percent back in popular categories like U.S. restaurants, U.S. gas stations and wireless phone service purchased directly from U.S. service providers . You’ll also get free employee cards and cardholder perks like car rental insurance and a baggage insurance plan.

The only real downside to this card is your rewards options are limited. You can use your rewards to cover purchases on Amazon.com or to cover purchases on your credit card —  that’s it.

Advantages

  • Earn 5 percent back on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market with an eligible Prime membership
  • No annual fee and no foreign transaction fees
  • Free employee cards and travel benefits

Disadvantages

  • After October 1, 2020, you’ll only earn 5 percent back on up to $120,000 in U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market per calendar year, then 1%
  • Rewards are only good for statement credits or more merchandise on Amazon.com
  • No balance transfer option
  • You need to be an Amazon Prime member to qualify for this card

Is the Amazon Business Prime American Express Card worth it?

Business owners who spend a lot on Amazon.com or with Whole Foods or Amazon Business will get the most value from this card.

Earning 5 percent back can add up quickly, and this is especially true if you spend a lot on equipment and supplies each year. With $100,000 in Amazon spending on your card every 12 months, you can earn $5,000 in cash back in this category alone.

The biggest downside of this card is the fact you can only use your rewards in two ways: To pay for Amazon.com purchases or to redeem rewards for statement credits to cover specific purchases charged to your credit card.

This makes the Amazon Prime Business American Express Card a poor choice if you’re someone who wants to travel — especially if you want to transfer your points to airline and hotel partners. If that’s something you’re interested in, consider checking out travel rewards credit cards, instead.

How to get the most value from the Amazon Business Prime American Express Card

To get the most bang for your buck, you’ll want to make sure you use your Amazon Prime Business Credit Card for all your Amazon, Amazon Business and Whole Foods purchases each year. Doing so will net you 5 percent back for each dollar you spend, which works out to $500 for every $10,000 in purchases you make in these categories.

Since you can also opt for a 90-day zero percent APR (14.24 percent to 22.24 percent variable APR thereafter) during times when cash flow is tight, this card really offers the best of both worlds. If you need longer than 90 days, however, consider these top balance transfer cards with 0 percent  APR, some of which waive interest on transferred balances for up to 18 months before the regular APR applies.

When it comes to non-bonus purchases that only earn 1 percent back, we recommend pairing up with another business credit card that might let you earn more points on travel, groceries or other common categories people spend in regularly. There are also plenty of business credit cards that offer a higher rate of rewards on regular purchases, including the Ink Business Unlimited® Credit Card, which gives you 1.5 percent cash back on everything you buy.

How much are points worth?

This business credit card offers cash back, but they are reflected as points and easy to understand. In the card’s 5 percent categories, you’ll earn 500 points or $5 for every $100 you spend. If you’re earning 1 percent back on non-bonus spending, you’ll earn 100 points or $1 for every $100 you spend.

How do you redeem rewards?

Redeeming rewards earned on this card is pretty simple considering you only have two options: Amazon purchases or statement credits to cover purchases on your card.

When you redeem for Amazon.com purchases, you do so through the card’s Shop with Points program (which you’ll be automatically enrolled in). If you don’t have enough rewards to cover the purchases you want to pay for, you have the option of using your rewards balance and covering the difference in cash.

You can also use your rewards to cover purchases made with your credit card if you’re a basic cardmember, have an enrolled card that is not past due or canceled and have at least 1,000 points ($10 in rewards) in your account.

In addition:

  • The charge must have been made in the U.S. or in a U.S. territory
  • The charge must appear on your statement or in recent activity
  • The charge must not have been disputed in the past
  • The purchase must be for at least $1

Should you downgrade?

As you compare business credit cards, make sure to keep in mind that Amazon.com also offers another co-branded business card: the Amazon Business American Express Card. This card doesn’t charge an annual fee or require you to pay for an Amazon Prime membership, but you’ll only earn 3 percent back on U.S. purchases at Amazon Business, AWS, Amazon.com and Whole Foods Market. You also have the option to choose a 0 percent APR for 60 days (14.24 percent to 22.24 percent variable APR thereafter) over rewards.

This card can be a solid option for your business if you are afraid an Amazon Prime membership won’t pay off, so consider it if you’re only an infrequent Amazon.com shopper.

The information about the Amazon Business Prime American Express Card and the Amazon Business American Express Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.