The new card is a cash-back credit card that comes with no annual fee, a 0% introductory APR period and opportunities to expand your credit spending limit.
American Express also released findings from a June 2019 survey conducted by Savanta, which revealed that of the 500 business owners who participated, 65% said that having automatic cash back would help them manage their cash flow and 62% said that the opportunity for added cash back would enable them to reinvest in their business.
A 2017 Small Business Credit Survey from the Federal Reserve Bank of New York found that 45% of small business owners reported using credit cards regularly, and 65% of cardholders reported using personal cards to fund business expenses.
American Express hopes its new Blue Business Cash Card will help US small business owners gain access to more capital and reinvest in their companies.
Key card features include: no annual fee, 2% cash back on up to $50,000 in eligible purchases (1% after that), and the ability to manage cash flow with ‘Expanded Buying Power,’ a feature that allows you to make a limited number of purchases above your credit limit if you qualify.
When shopping with this Amex card, there are no category restrictions so you can earn cash back wherever and whenever. And, as an added bonus, the card comes with an introductory 0% APR period on balances and transfers for the first 12 months.
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