The Amazon Business American Express Credit Card has been a popular choice for business owners in recent years. This credit card offers a range of benefits that are specifically tailored to cater to the needs of businesses, including rewards on Amazon purchases, flexible repayment options, and additional perks for Amazon Prime members. As a result, it has piqued the interest of many potential cardholders who are looking for a payment solution that can help streamline their expenses and improve their overall financial management.
When evaluating the Amazon Business American Express Credit Card, it’s essential to consider the card’s rewards program, annual fees, and interest rates as well as the additional features it offers. With no annual fee and a variable APR of 19.24% – 27.24%, the card is an attractive option for businesses with good to excellent credit scores. Furthermore, cardholders enjoy no foreign transaction fees, free employee cards with purchase controls, and the option to choose between 5% back or a 90-day interest-free payment term on eligible purchases.
In this article, we will be delving deeper into the Amazon Business American Express Credit Card, exploring its various features and comparing it to other similar cards on the market. This will help you make an informed decision based on your specific business needs, ensuring you choose a card that truly benefits your company and supports its growth.
Overview of Amazon Business Credit Cards
Amazon offers two credit cards specifically tailored for businesses: the Amazon Business American Express Card and the Amazon Business Prime American Express Card. Both cards are designed to provide benefits and rewards for businesses, while offering competitive rates and features.
Amazon Business American Express Card
The Amazon Business American Express Card is a great option for businesses that regularly make purchases on Amazon.com. With no annual fee and a variable APR ranging from 19.24% to 27.24%, this card offers flexible options to businesses requiring good to excellent credit scores (690-850).
Rewards of the Amazon Business American Express Card include:
- Earn an Amazon.com Gift Card as a welcome bonus
- No foreign transaction fee
- Free employee cards with customizable purchase controls
Amazon Business Prime American Express Card
The Amazon Business Prime American Express Card is available for businesses enrolled in Amazon Business Prime. The card comes with a $0 annual fee and offers a variable APR ranging between 18.99% and 26.99%. It is suited for businesses with credit scores in the good to excellent range (690-850).
Key features of the Amazon Business Prime American Express Card are:
- Earn up to $125 back as a welcome bonus
- No foreign transaction fee
- Free employee cards with purchase controls
- High rewards or 0% interest period on purchases
Card Benefits and Features
Reward Rates
The Amazon Business credit card offers tiered reward rates:
- 5% back on purchases at Amazon and Whole Foods, for eligible Prime members
- 3% back at Amazon and Whole Foods, for non-Prime members
- 2% back on purchases at US restaurants, gas stations, and wireless telephone services provided by US service providers
- 1% back on all other purchases
Rewards can be redeemed as a statement credit or used during checkout at Amazon.com.
Welcome Offer
New cardholders can earn a welcome offer in the form of an Amazon.com gift card after approval, with a value that can range depending on the chosen card variant.
No Annual Fee
One of the major advantages of the Amazon Business credit card is the absence of an annual fee. This makes it an attractive choice for businesses looking to minimize cost while still earning rewards on everyday purchases.
Enhanced Data Views
The Amazon Business credit card supports enhanced data views, which can provide valuable insights into your business’s spending patterns. With this feature, you can access customizable reporting tools, including purchase and spending analysis, to help you make informed financial decisions for your business.
Free Employee Cards
Business owners can issue free employee cards with customizable purchase controls and the ability to set spending limits. Employee cards also earn rewards at the card’s standard rates, allowing businesses to further maximize their earnings and benefits.
Associated Costs and Fees
Variable APR
The Amazon Business credit card has a variable APR ranging from 18.74% to 26.74% for the regular card and from 18.99% to 26.99% for the Business Prime card, depending on your creditworthiness. The APR is applied to your outstanding balance when you do not pay off your statement in full each month.
Foreign Transaction Fees
Good news for international travelers or business owners making transactions in foreign currencies: the Amazon Business credit card does not charge any foreign transaction fees. This is a great feature that makes it easier and more cost-effective to use the card for international purchases or overseas trips.
Cash Advance Fees
Cash advance fees are not specifically mentioned in the provided search results. However, it’s important to be aware of the potential for such fees when using a credit card for cash advances. Typically, fees for cash advances can be quite high, and interest may begin accruing immediately, even if you have an interest-free period for regular purchases. Always check the terms and conditions of your specific credit card to understand any associated cash advance fees and how they may impact your balance.
Membership and Rewards Programs
Amazon Prime Membership
Amazon Prime membership offers numerous benefits for individual users, including fast shipping, access to streaming services, and exclusive deals. To maximize rewards on the Amazon Business Prime American Express Card, having an active Amazon Prime membership is crucial. A Prime membership generally costs $119 per year or $12.99 per month.
Business Prime Membership
Business Prime membership is designed specifically for businesses and offers additional benefits tailored to business needs. These benefits include exclusive pricing and discounts, advanced procurement analytics, and extended payment terms. Business Prime membership fees are based on the number of users, starting at $69 per year for a single user and scaling up for more users.
Earning and Redeeming Rewards
The Amazon Business Prime American Express Card offers a lucrative rewards rate for Amazon-related purchases. Cardholders can choose between earning 5% back at Amazon.com, Amazon Business, Amazon Web Services, and Whole Foods Market, or opting for 90-day terms with 0% interest on eligible purchases.
Earnings are calculated in the form of points, with 1 point typically being equivalent to 1 cent. Points can be redeemed for Amazon gift cards, statement credits, or balance transfers. It’s essential to note that the 5% rewards rate and the 0% interest period on purchases are mutually exclusive, so cardholders must choose between these options on each purchase. A welcome offer may also be available, providing bonuses like an Amazon gift card upon meeting specific spending requirements within a calendar year.
To summarize, the Amazon Business Prime American Express Card offers compelling rewards programs for Amazon-related purchases. Both Amazon Prime and Business Prime memberships allow cardholders to maximize their rewards on the card, whether they choose the 5% back rewards rate or the 90-day interest-free term for eligible purchases.
Extra Services and Protections
Purchase Protection
The Amazon Business Credit Card offers purchase protection for eligible purchases. This protection covers items in case of theft, damage, or loss within a specified time period, usually up to 90 days after the purchase date. Additionally, if you find that the price of an item has dropped within a certain period, the card provider may refund the difference in price.
Travel Protections
Amazon Business Credit Card also includes various travel protections to the cardholders. Some of these protections include baggage insurance, travel accident insurance, and lost luggage reimbursement.
- Baggage Insurance: This feature provides coverage for lost, damaged, or stolen luggage during your travels. The coverage amount might vary depending on the card’s terms and conditions.
- Travel Accident Insurance: In the unfortunate event of an accident while traveling, cardholders may receive compensation for medical expenses or other costs incurred.
- Lost Luggage Reimbursement: In case your luggage gets lost while traveling, this feature reimburses the cardholder for the value of the lost items, subject to the card’s terms and conditions.
Integrated Services
The Amazon Business Credit Card comes with various integrated services designed to make managing expenses and spending limits more convenient for the users. These integrated services include:
- Credit Score Monitoring: Cardholders can efficiently monitor their credit score, ensuring they are aware of any changes and maintain a good/excellent credit rating.
- Spending Limits: The card provides the option to set spending limits for employee cards, enabling more control over the company’s expenses.
- Expense Management: Cardholders can utilize the card’s expense management tools to track and categorize expenses, making it easier to analyze and optimize spending patterns.
By incorporating these extra services and protections, the Amazon Business Credit Card offers a comprehensive package to its cardholders, making it an attractive option for businesses of all sizes.
Comparing Amazon Business Credit Cards with Other Options
In this section, we will compare Amazon Business Credit Cards with other popular options such as Chase Ultimate Rewards Cards, Bank of America Business Cards, and Capital One Spark Cash Plus.
Chase Ultimate Rewards Cards
Chase Ultimate Rewards Cards are a popular alternative to Amazon Business Credit Cards as they offer competitive rewards and benefits. These cards can accumulate Ultimate Rewards points, which can be redeemed for travel, merchandise, cash back, and more. Several Chase cards also come with attractive sign-up bonuses and no annual fees, making them suitable for businesses with varying budgets.
Some popular choices among business owners include the Chase Ink Business Preferred, Chase Ink Business Cash, and Chase Ink Business Unlimited, each catering to different spending patterns and rewards preferences. When comparing these cards to an Amazon Prime Rewards Visa Signature Card, the primary difference is the flexibility of redeeming rewards outside the Amazon ecosystem.
Bank of America Business Cards
Bank of America offers various business credit cards designed to suit different needs and business expenses. These cards come with various rewards, including cash back on everyday purchases, travel rewards, and low-interest rates.
Notable options include Bank of America® Business Advantage Cash Rewards, Bank of America® Business Advantage Travel Rewards, and Bank of America® Platinum Plus® Mastercard® Business Card. Comparing these cards to Amazon Business Credit Cards, it is essential to weigh the benefits of earning cash back and travel rewards with the potential discounts and rewards you would receive on Amazon purchases.
Capital One Spark Cash Plus
Capital One Spark Cash Plus is another excellent alternative to Amazon Business Credit Cards, especially for businesses that want simple and straightforward rewards on their business expenses. This card offers unlimited 2% cash back on every purchase, alongside features like free employee cards, an annual $200 cash bonus, and a sizable sign-up bonus.
Some businesses may find the simplicity and consistent cash back of the Capital One Spark Cash Plus more appealing than Amazon Business Credit Cards’ rewards structure. It’s essential to analyze your business’s spending patterns and preferences while deciding which card fits best with your financial strategy.
Conclusion: Is an Amazon Business Credit Card Right for Your Needs?
The Amazon Business Credit Card offers a range of benefits that can suit the unique needs of various businesses, especially those that heavily rely on Amazon-specific purchases or services such as Amazon Web Services. It provides elevated rewards, often up to 5% back, and allows for multi-user accounts and shared payment methods. These features make the credit card a valuable resource for businesses looking to manage costs and expense tracking effectively.
Having approval workflows in place adds to the card’s appeal for small business owners who seek streamlined expense management. Furthermore, the welcome bonus of up to $125 back can be enticing, particularly since the card requirements are tailored to individuals with good to excellent credit scores. Free employee cards and an intro APR offer for Business Prime account holders also contribute to the card’s appeal.
Though some businesses may not require a spending cap, it’s worth mentioning that the Amazon Business Credit Card does offer one. Integration with QuickBooks is another notable feature, simplifying accounting processes, and ensuring an organized system. In addition to the 5% back, cardholders also have alternative options, like choosing between 3% back or 60 day terms, which might benefit some businesses in terms of cash flow.
However, it is important to remember that the card does come with cash advance fees, so it’s crucial to be mindful of this when using the card for business expenses.
Despite a few drawbacks, the card’s rewards potential for small businesses, especially those that frequently use Amazon for their purchases and services, cannot be overlooked. To determine whether the Amazon Business Credit Card is the right fit for your needs, consider your specific business requirements, spending habits, and the potential rewards you could obtain from this credit card.
Frequently Asked Questions
What is the credit score requirement?
The Amazon Business Credit Card typically requires a good to excellent credit score. While there’s no specific number stated, it’s generally assumed that a credit score of at least 670 would be needed to qualify for the card. Keep in mind that additional factors, such as income, credit history, and existing debt, will also be considered during the application process.
Is it a hard inquiry on credit?
Yes, when you apply for the Amazon Business Credit Card, it will result in a hard inquiry or “hard pull” on your credit report. Hard inquiries may temporarily lower your credit score, but the impact typically diminishes over time.
How does credit approval work?
When you apply for the Amazon Business Credit Card, the issuer, American Express, will review your credit history, income, existing debt, and other relevant factors. If you meet their criteria and are approved, they will issue your credit line and send you the card. Approval is not guaranteed, and it’s at the discretion of the issuer.
Does it help build business credit?
Yes, responsible use of the Amazon Business Credit Card can help you build your business credit by establishing a positive payment history. It’s important to pay your balance on time and in full each month, as late or missed payments could negatively affect your business credit.
Are there any card requirements?
For the Amazon Business Credit Card, you’ll need to have a valid Amazon business account. There’s no need for an Amazon Prime account, but having one may offer additional benefits, such as higher rewards rates or longer interest-free periods. The card is designed for small to medium-sized businesses, and the issuer will consider your business type, revenue, and creditworthiness during the application process.
What are the card’s benefits?
The Amazon Business Credit Card offers a variety of benefits, including:
- Earn up to 5% back on eligible purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market
- No annual fee
- Additional employee cards at no cost
- Expense management tools to help track and categorize business expenses
- Access to exclusive discounts and deals for Amazon Business customers
Remember to always review the most up-to-date information and terms for the Amazon Business Credit Card before applying.
