Amazon Business Prime American Express Card Review
Amazon Business Prime American Express Card
CardRatings Editor's Analysis: Pros & Cons
- This card is a good fit for two different audiences: those who want to earn rewards on purchases, and those who need extra time to pay off purchases. The great thing is, you get to decide which perk to benefit from. Take advantage of 5% back or 90 day terms on U.S. purchases at Amazon.com, Amazon Business, AWS and Whole Foods Market with an eligible Prime membership - the choice is yours.
- If you choose to earn rewards, you aren't limited to earning on just Amazon-related purchases. Cardholders can also earn 2% back at U.S. restaurants, U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers.
- Eligible Prime members get a $125 Amazon.com gift card upon approval for the card.
- Amazon Prime membership is required to take full advantage of this card. If you don't have an Amazon Prime account or you don't want to open one, you'll want to consider another credit card option.
Since the Amazon Business Prime American Express Card is an Amazon credit card, when you spend money, you'll benefit the most on Amazon-related purchases. You have two options, in fact, for how this card can earn you rewards. You can either receive cash back on purchases, or enjoy a 90-day interest-free window on eligible U.S. purchases at Amazon Business, Amazon Web Services, Amazon.com and Whole Foods Market.
If you go the cash back route, you will get…
- 5% cash back on U.S. purchases at Amazon Business, Amazon Web Services, Amazon.com and Whole Foods Market (on up to $120,000 in purchases each calendar year, 1% back thereafter)
- 2% cash back at U.S. restaurants and U.S. gas stations, and on wireless telephone services purchased directly from U.S. service providers
- 1% cash back on everything else you spend money on
We should mention here that the cash back actually will come to you in the form of Amazon rewards points - which can then be applied to purchases on your card statement or toward purchases at the Amazon.com checkout.
Also worth noting, if you aren't an Amazon Prime member and want this card without being an Amazon Prime member and paying the membership fee, you can get the Amazon Business American Express Card (that is, no "Prime" in the title), but instead of getting 5% back, you'll receive a choice of 3% cash back or a 60-day interest-free window on eligible U.S. purchases at Amazon Business, Amazon Web Services, Amazon.com and Whole Foods Market.
- Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- Terms Apply.
Amazon advertises a number of Amazon Business related perks including exclusive pricing and quantity discounts, employee purchase control, and enhanced data views on Amazon Business purchases. Add the Amazon Business Prime American Express Card to your wallet and you can look forward to even more, including:
- A generous welcome bonus. Once you're approved for the card you'll receive a $125 Amazon.com gift card. That should easily pay for your Amazon Prime membership, unless you have a Business Prime membership with numerous users (when you have up to 10 card users, the fee can be as high as $499; if you have one user with Business Prime, it's $69). This is a great perk considering the fact that most welcome bonuses require you to spend a certain amount of money within a specific time frame before you're eligible for the bonus.
- Cash back or cash flow? As noted earlier, with the Amazon Business Prime American Express Card, you'll either get a lot of cash back (up to 5% for purchases on Amazon sites; 2% at U.S. restaurants and gas stations; 1% on everything else) - or you can choose a 90-day interest-free window on eligible U.S. purchases at Amazon Business, Amazon Web Services, Amazon.com and Whole Foods Market. This interest-free window is for the life of the card, and so it isn't a one-time deal. If you make an eligible purchase, and you select the Payment Terms option, or if your default selection for Payment Terms applies, payment will be due no less than 90 days from the date of purchase. So it really comes down to what you value more. Cash back every time you buy stuff - or the ability to have some breathing room to pay things off before you're charged interest?
- No foreign transaction fees which means it's cheaper to travel internationally.
- Business benefits you would expect, such as purchase protection, extended warranty protection and travel protection (i.e., car rental loss and damage insurance). In other words, the good stuff that a lot of business credit cards have.
Additionally, there are a number of expense management tools that cardholders can look forward to. These include:
- Employee cards. Sure, you would expect that with a business credit card, but, still, it's helpful.
- Connection to QuickBooks. You can enroll in QuickBooks and have all of your business card transactions automatically tagged with your QuickBooks categories.
- Manage receipts. The American Express Business App makes it very easy for you and your employees to manage your business credit card receipts.
- Vendor Pay by Bill.com. You can improve your cash flow when you use your card to pay bills with Vendor Pay by Bill.com. It basically automates your bill paying and invoice sending. With the basic plan, there's no monthly fee for the first user. If you have more users or get plan beyond basic, fees may apply.
The Amazon Business Prime American Express Card does not have an annual fee, but Amazon Prime membership is required to take full advantage of the card. See Rates and Fees; terms apply. The Amazon Business American Express Card doesn't require prime membership, but remember, as mentioned above, the rewards offered with this version aren't quite as lucrative as the Amazon Business Prime card.
For a personal Amazon prime membership, you'll pay $119 a year, or you can pay $12.99 a month (but that comes to $155.88 a year, so you'll want to try and avoid that). As you probably know, there are a slew of benefits to being an Amazon Prime member. You get access to free shipping and streaming access to Prime Video and Amazon Music Prime - and much more.
You also can be a member of Business Prime and get a lot of Amazon business benefits, such as business-only pricing and fulfillment solutions. The cost for Business Prime varies, ranging from $69 for one user to $499 if you have 10 users.
So, depending on whether or not you mind paying for an Amazon Prime membership, this could be a disadvantage of the card, but if you're using Prime already then this is a moot point.
As you probably can guess, the higher your credit score, the better your odds of being approved. The Amazon Business Prime American Express Card requires good to excellent credit. According to the FICO score model, a good credit score is anything above 670, but keep in mind that there are other factors that American Express might take into consideration when deciding approval for this card.
Amazon Business Prime American Express Card vs. Ink Business Cash® Credit Card
The Amazon Business Prime American Express Card and Ink Business Cash® Credit Card are pretty evenly matched with cash back rewards - at least when it comes to small business spending categories. They each offer up to 5% cash back. Granted, with Amazon.com, your 5% cash back reach goes a little further, since you can get 5% cash back with purchases from Amazon.com and Whole Foods Market. With the Ink Business Cash® Credit Card, cardholders earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each year; and 1% back on all other purchases.
One edge that the Ink Business Cash® Credit Card has is a 0% intro APR period. This card offers 0% intro APR on purchases for 12 months (then 13.24% - 19.24% Variable). Meanwhile, with the Amazon Business Prime card, if you choose the interest-free window route instead of cash-back rewards, you'll get 90 days 0% APR on purchases, ongoing. This means that for the life of the card you get 90 days to pay off your purchases before interest kicks in.
Lastly, there's no doubt that the Ink Business Cash® Credit Card has a better welcome bonus, at least at first glance— $750 cash back after you spend $7,500 in the first three months. Amazon Business Prime Card gives you only $125, in the form of an Amazon.com gift card - but without spending a cent.
The Ink Business Cash® Credit Card has no annual fee.
Amazon Business Prime American Express Card vs. American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card offers 2% cash back on all eligible purchases on up to $50,000 per calendar year, and then 1%. While there's more rewards-earning potential with the Amazon Business Prime card, the American Express Blue Business Cash™ Card could be a better fit for business owners who have expenses all over the place, and not just in specific categories.
There's also no annual fee, and you may like the "expanding buying power" feature, which lets your business spend beyond its credit limit. You also may like the 0% intro APR on purchases for 12 months (then 13.24% - 19.24% Variable) offer. The Amazon Business Prime American Express Card does have a 0% APR for 90 days on eligible purchases, and it's a permanent and not an introductory feature, but to get it, you have to be willing to give up getting cash back. With the American Express Blue Business Cash™ Card, for that first year, you can have a 0% APR - and earn cash back.
Amazon Business Prime American Express Card vs. Capital One Spark Cash Plus
The Capital One Spark Cash Plus card earns unlimited 2% cash back on every purchases, everywhere, with no limits or category restrictions. There is a $150 annual fee, but some of the card's perks are quite lucrative. For starters, new cardholders can earn up to a $1,000 cash bonus: $500 once spending $5,000 in the first three months, and $500 more once spending $50,000 in the first six months of account opening. If your business has some big purchases on the horizon, this bonus could be in easy reach. Additionally, you can earn a $200 cash back bonus every year you spend $200,000 or more. This bonus is an excellent way to offset the annual fee. Another notable feature is that employee cards are free.
What's different about this card though is that there's no APR. That's because your balance is due in full every month. So this is a very different offer than what you get with the Amazon Business Prime card, but for the right cardholder, it could be a viable option.
The Amazon Business Prime American Express Card is a good card - even an excellent one, if you're an avid Amazon shopper. If you're somebody who prefers other retailers, then it's not as good of a fit for you.
But if you like to do business shopping through Amazon, or you like Amazon and are willing to steer your business spending to Amazon, then it's absolutely a good credit card. With 5% cash back in select categories - or the 90 days 0% APR (if cash flow concerns are more your concern), it's a business credit card that could, in theory, make your business stronger and healthier when used responsibly.
To see the rates and fees for the American Express cards mentioned in this post, please visit the following links: Amazon Business Prime American Express Card (See Rates and Fees; terms apply); American Express Blue Business Cash™ Card (See Rates and Fees; terms apply)