Never before has it been so difficult to get approved for a credit card. In the wake of the worst financial crisis since the Great Depression, banks are tightening their wallets and issuing skyrocketing standards for credit card approval. If your credit rating is low or non-existent, you may feel like a credit card is completely out of reach. Don’t be...
|Signing Promotion||Get 5,000 points after your first purchase|
|Reward Rate||1x points for each dollar you spend on eligible purchases|
|Annual Fee||$0 introductory annual fee for the first year, then $95|
|Cash Advance APR||N/A|
|Intro APR Promotions||N/A|
Get one Membership Rewards® point for each dollar you spend on eligible purchases, and points have no expiration date.
No annual fee for Additional Cards for employees that can earn points for your account and let you set individual limits per Card
Welcome bonus offer not available to applicants who have had this product or any other Business Green, Gold or Platinum Card® account within the last 12 months.
See card issuer's website for details about terms and conditions of offer.
Excellent Credit Needed
- Excellent discounts for your business through the American Express Open Savings program
- Potential for earning extra points by booking flights and hotels with American Express Travel
- Points may be transferred to 20 frequent traveller programs
- Charge card: balance must be paid in full at the end of each billing period
- 2.7% foreign transaction fee
- Fewer ways to earn points than some other business rewards cards
The Simple Dollar’s Review
As far as business credit cards go, the Business Green Rewards Card from American Express OPEN may be an excellent choice for some, while leaving others lukewarm.
- It’s an American Express card, which means it comes with unmatched customer service and reputation. If these things are important, any card by American Express can be worth it.
- You also get some nice travel perks, like roadside assistance and luggage and car rental insurance.
- Lastly, with the Open Savings program, you’ll enjoy discounts of 3% to 10 % on select business essentials, like office supplies and car rentals. These discounts alone arguably make this a worthwhile card for any small to medium size business.
The reward scheme is a mixed bag, however. You get one reward point for every dollar you spend. But unlike many cards, there are no purchase categories for earning double points, like air travel or office supplies. So some people may be a little disappointed by their potential for accumulating points. The only way to earn extra points is by making reservations through American Express Travel.
You do get a decent amount of flexibility when it comes to redeeming the points though: they can be used for any airline through American Express Travel and also be transferred to over 20 different frequent flyer programs, usually at a 1:1 exchange rate. All in all, this is a decent rewards program, so long as you’re comfortable using American Express Travel for just about all your reservations.
The main downside of all this is there’s a $95 annual fee – though it’s waived for the first year – and a 2.7% foreign currency transaction fee, which can be a nuisance if you travel internationally.
Whether this is a good card for your business largely depends on your preferences. The cards reward program is decent, but there are better ones out there – and with lower annual fees. On the other hand, the Open Savings program and American Express customer service may well make up for it. So as long as you’re comfortable taking advantage of American Express Travel and Open Savings as much as possible – and most of your travel is domestic – then this is a very good business credit card.
You’ve had your first credit card for a while now and you’ve been using it responsibly. You’re thinking it’s time to add a second one. This might be a good idea, but whether you should – and which one you should choose – depends on many factors. Taking out a second credit card can help you build up your credit...