American Express Unveils New Small Business Credit Card
LowCards is an American Express partner. View our full editorial disclaimer here.
American Express has launched The Blue Business℠ Plus Credit Card from American Express. Perks of the card include a low introductory APR on purchases and balance transfers for up to 15 months, as well as double rewards points when a user spends $50,000 in a calendar year.
Cardholders can redeem their points for statement credits, gift cards, merchandise or travel. They can also transfer points to participating airline or hotel loyalty programs.
“In the U.S. 70 percent of small businesses generate less than $1 million in annual revenues. For them, every minute counts and access to money to help fulfill big orders or make capital purchases is critical,” said Audrey Hendley, senior vice president of global products at American Express Global Commercial Payments. “Blue Business Plus is the only no-annual-fee small business credit card from a major issuer that offers 2X points with no category restrictions, so small business owners can be confident they are making the smart choice for their business.”
American Express says the new card can also help small businesses better manage their cash flow by:
- Offering a low introductory APR: The card has an introductory rate of 0% APR for up to 15 months. After that, the APR will be set to 13.49% - 21.49% Variable, depending upon the cardmember’s creditworthiness and other factors. The low introductory APR can help businesses access the credit they need to grow their business, which will alleviate cash flow worries.
- Allowing cardholders to spend above their credit limit, which allows business owners to pursue opportunities without requesting a credit limit increase or paying over limit fees. To avoid fees, users simply need to pay in full any amount they spent over their limit when the statement is due.
- Offering employee controls. Cardholders can add cards to their account for employees for no additional fee. They will get real-time alerts if an employee spends at a merchant not previously approved by the employer.