Who Is This Credit Card Best For?
Is turning their passion into a money-making venture See more cards
Diligently searches for the best products and delights in a good bargain See more cards
Prioritizes sticking to their budget while buying what they want and need See more cards
Hits the road often, whether for work or play See more cards
Frequent Amazon.com, Amazon Business, and Whole Foods Market shoppers may love this business credit card since it lets you choose between 5% cash back or 90 days without paying interest. You also get 2% back at U.S. restaurants, U.S. gas stations, and purchases made with wireless services from U.S. providers, so this card is a winner for business owners who also spend a lot in these categories.
Good rewards-earning rate on Amazon purchases
Optional 90-days interest-free offer on purchases
Longer 0% APR offers exist
Limited redemption options
Wimpy welcome offer
Must be an Amazon Prime member
- Good rewards-earning rate on Amazon purchases: If you spend a lot on Amazon.com, Amazon Business, AWS, or Whole Foods Market purchases, earning 5% back is a good deal. Note that effective Oct. 1, 2020, this earnings rate is capped at the first $120,000 in Amazon spending in a calendar year. After that these purchases earn 1% cash back for the rest of the calendar year.
- Optional 90-days interest-free offer on select purchases: If you forgo the 5% rewards you earn on Amazon, you can choose to avoid interest on those purchases for 90 days. This option can help you save money or manage cash flow when funds are tight.
- Longer 0% interest offers exist: If you need some time to pay down your purchases without making interest payments, there are plenty of business credit cards that offer 0% interest introductory offers for a lot longer than 90 days. Some offer no interest on purchases for up to 12 months and rewards on each dollar you spend.
- Rewards options are limited: Unlike other business credit cards that let you redeem your rewards in several different ways, cash back accrued with this card can only be used for purchases made on Amazon.com or Amazon Business or toward a statement credit to cover charges on your account.
- Wimpy welcome offer: Earning a $125 gift card upon approval and another $100 in statement credits when you spend $3,000 in 2% back and 1% back categories within three months is disappointing. This is especially true when you consider the fact that some business credit cards offer initial bonuses worth up to $1,000.
- Must join Amazon Prime: If you don’t have an Amazon Prime membership, you’ll need to purchase one to get this credit card. This membership will set you back $119 per year or $59 per year if you’re a student.
Amazon Business Prime American Express Card Welcome Offer
If you are approved for this credit card, you’ll receive a $125 gift card to use toward Amazon.com purchases. You can also earn an additional $100 statement credit after you spend $3,000 on your card within the 2% back and 1% back categories within the first three months. Considering many business credit cards offer much better bonuses, this initial perk isn’t that exciting.
To offer a bit of flexibility during the pandemic, you may have more time to earn your new cardholder bonus, if you haven’t already earned it. For more information, see “Credit Card Deals Help You Earn and Use Travel Benefits During COVID-19”.
Earning Points & Rewards
This card offers a high rate of return for Amazon.com, Amazon Business, and Whole Foods Market purchases—a solid 5% back. You’ll also receive an unlimited 2% back at U.S. restaurants, U.S. gas stations, and on purchases made with wireless services from U.S. providers, as well as 1% back on everything else you buy.
Effective Oct. 1, 2020, the 5% earnings rate on Amazon property purchases is capped at the first $120,000 of spending in a calendar year. Purchases in excess of the cap earn rewards at 1%. Cardholders whose spending hits the threshold before Oct. 1 will earn at the 1% rate from Oct. 1 to the end of the calendar year.
Your points won’t expire provided your account remains open. However, you’ll only have 90 days to redeem your points if your card is cancelled for inactivity.
The Amazon Business Prime American Express Card lets you redeem rewards in one of two ways. You can use them toward Amazon.com or Amazon Business purchases, or you can redeem them for statement credits to cover other charges made to your account.
Amazon will let you pay the difference with your credit card if you’re short on points for something you want to buy.
How to Get the Most Out of This Card
Heavy Amazon.com, Amazon Business, and Whole Foods Market shoppers should sign up for this card and use it for every Amazon-related purchase they make. Also use your card when you pay for restaurant, gas station, and wireless services in the U.S.
Since you only get 1% back on everyday spending, however, we suggest pairing this card with another business card that offers different bonus categories or a higher rate of rewards on other purchases your business makes. A travel rewards card might be a good match, for example, if you travel frequently for business.
Also consider how your your bottom line might be affected if you take 90 days with no interest instead of the cash-back rewards. If you were to purchase $5,000 in business equipment through Amazon.com on your card, you could earn $250 in cash back or you could score 90 days interest-free. However, the better deal really depends on your interest rate.
If your rate were on the lower end of what this card offers and you made a minimum payment of 2%, you would save around $195 in interest over 90 days. If you qualified for the highest rate, your interest savings would be about $295 over 90 days.
For the most part, 90 days with no interest can be the sweeter deal if your interest rate is on the high end.
Don’t confuse this card with the Amazon Business Card, which is available to business owners who don’t belong to Amazon Prime.
Amazon Business Prime American Express Card’s Excellent Perks
There are a number of perks that may come with credit cards.The Amazon Business Prime American Express Card offers a handful that we consider excellent.
- Insurance coverage for lost luggage: Qualify for reimbursement in amounts up to $1,250 per person, per trip for lost carry-on baggage or $500 per person for lost checked baggage. Certain high-risk items in your luggage may also qualify for an additional benefit of $250.
Amazon Business Prime American Express Card’s Other Benefits
- Rental car collision insurance (secondary to your own policy)
- Insurance for stolen or damaged purchases
- Extended warranties
- Sports, music, and event ticket presales, plus VIP access at some events
American Express continually receives high marks for its customer service. Recently, J.D. Power gave American Express the second spot (out of 11 issuers ranked) in its 2019 U.S. Credit Card Satisfaction Study, which considered the experiences of more than 28,000 credit card customers nationwide.
American Express also received the second spot in J.D. Power’s 2019 U.S. Credit Card Mobile App Satisfaction Study, only behind Discover.
American Express credit cards come with standard security features for the industry including encryption technology, fraud monitoring, and zero liability for fraudulent purchases. You can set up account alerts that will notify you when purchases are made, payments are due, and more.
Amazon Business Prime American Express Card’s Fees
Fees for this card are standard for the industry. The lack of foreign transaction fees also makes this card a smart option if you make business purchases overseas.