Amazon Plans to Create Small Business Credit Card

Amazon may be developing a small business credit card, according to sources who spoke with Bloomberg. The sources say Amazon has been talking to JPMorgan Chase about creating a co-branded credit card specifically for small business owners.

Official details about the small business credit card are unknown at this time. If it models the structure of the Amazon Prime Credit Card, it will feature 5% cash back for Amazon.com purchases. There may be a higher tier of rewards for bulk purchases, such as large volumes of office supplies or automatic orders for printer ink. The sources also report a potential business insurance program through the Amazon credit card, as well as tailored rewards based on transaction history.

Last October, Amazon launched Business Prime Shipping. Much like traditional Prime accounts, this service offers free two-day shipping for businesses. Amazon also has a free account for business owners that provides discounts for certain items and allows multiple users to access the same account (the owner, the assistant, the intern, etc.).

Entrepreneurs who have Prime for their personal accounts can extend the service to their single-user business account. This allows business owners to take advantage of Prime benefits without having to pay for two different accounts. They can separate purchases on their personal and business accounts for better record keeping.