Published By Janet Gershen-Siegel at July 13th, 2020
Have you ever wondered about the pros and cons of American Express business credit cards? Well, wonder no longer. And in particular, if your personal credit is particularly good to excellent, then the pros and cons of American Express business credit cards turns into just the pros.
Great personal credit scores will always help you. And it is no more apparent than when looking at business credit card offers from American Express.
Per the SBA, corporate credit card limits are a massive 10 – 100 times that of personal credit cards!
This reveals you can get a great deal more funding with company credit cards. And it likewise shows you can have personal credit cards at shops. So, you would now have an additional card at the same shops for your company.
And you will not need collateral, cash flow, or financials to get small business credit.
Benefits can differ. So, make sure to pick the benefit you would like from this selection of alternatives. Note: a lot of the pros and cons of American Express business credit cards come in the form of the personal credit scores you will need in order to qualify.
If you have fantastic personal credit, then a lot of the cons go away completely.
These first selections are a pair of great choices for regular, everyday expenses. In particular, if you do not travel too often, these could be perfect cards for you. Your only choice would be cash versus points.
Have a look at the Blue Business® Plus Credit Card from American Express. It has no annual fee. There is a 0% introductory APR for the initial year. Afterwards, the APR is a variable 14.74 to 20.74%.
Get double Membership Rewards® points on day to day business purchases like office supplies or client suppers for the first $50,000 spent annually. Get 1 point per dollar afterwards.
You will need great to superb credit to qualify.
Also take a look at the American Express® Blue Business Cash Card. Note: the American Express® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. However its rewards are in cash rather than points.
Get 2% cash back on all qualified purchases on up to $50,000 per calendar year. Then get 1%.
It has no yearly fee. There is a 0% introductory APR for the first twelve months. After that, the APR is a variable 14.74 to 20.74%.
You will need great to excellent credit scores to qualify.
If you can pay the minimum early every month, then this next card could be the ideal choice for you. But the annual fee is rather high, after the first year’s introductory $0 fee.
Check out the Plum Card® from American Express. It has an introductory annual fee of $0 for the first year. After that, pay $250 each year.
Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.
You will need excellent to exceptional credit scores to qualify. And that annual fee is rather high.
If you spend a lot of time on the road, this could be a good card for you. The annual fee could be better – and it could be a lot worse, too.
The points and rewards are particularly good. But the price of a second free night in a calendar year? It is far higher than the value of any room at Marriott Bonvoy, anywhere around the world.
If you make a lot of purchases on this card, then it can be worthwhile, and the annual fee can be justifiable. And since you can get multiplied points for everyday activities like eating out and filling your tank, you may be able to make the minimum spend for the really good rewards.
But that means using this particular credit card practically to the exclusion of all others.
Have a look at the Marriott Bonvoy Business™ Card from American Express. It has a yearly fee of $125. There is no introductory APR offer. The regular APR is a variable 17.24 to 26.24%.
You can get 75,000 Marriott Bonvoy points after using your card to make purchases of $3,000 in the initial three months. Get 6 times the points for qualified purchases at participating Marriott Bonvoy hotels. You can get 4 times the points at United States restaurants and filling stations. And you can get 4 times the points on wireless telephone services bought directly from US providers and on US purchases for shipping.
Get double points on all other eligible purchases.
Plus, you get a free night each year after your card anniversary. And you can get one more free night after you spend $60,000 on your card in a calendar year.
You get free Marriott Bonvoy Silver Elite status with your Card. Also, spend $35,000 on qualified purchases in a calendar year and get an upgrade to Marriott Bonvoy Gold Elite status through the end of the following calendar year.
Plus, each calendar year you can get credit for 15 nights towards the next level of Marriott Bonvoy Elite status.
You will need good to exceptional credit scores to get this card.
The main positives for this credit card are the great perks for travel. If you travel a lot, and you buy your airline tickets with this card, then you can probably make the minimum spend for the first three months.
But the negatives far, far outweigh the positive aspects of this credit card. The annual fee is about what you could pay for three or four other American Express business credit cards. And the points boost will not kick in until you have spent enough to buy a house in Little Rock, Arkansas.
And even if you can make it to the exorbitant spend levels this card demands; the perks are not as generous as they could be.
Have a look at the Delta SkyMiles® Reserve Business American Express Card. Nowhere are the pros and cons of American Express business credit cards more apparent than here.
The best way to use this card is if you travel for business a great deal. Then, and only then, it may be the card for you. Get up to 100,000 Bonus Miles and 20,000 Medallion® Qualification Miles. You can get 80,000 bonus miles and 20,000 Medallion® Qualification Miles after you spend $5,000 in your first three months. Also, earn an additional 20,000 bonus miles after your initial anniversary of card membership.
Get triple miles on Delta purchases. And get 1.5 times the miles on eligible purchases the rest of the year after you spend $150,000 in a calendar year. Get a companion certificate annually upon renewal. And you get one Global Entry ($100) statement credit every 4 years. Or you can get one TSA Pre ✓® ($85) statement credit every 4.5 years for an application, free.
It has a $550 annual fee! There is no introductory APR offer. Rather, the regular APR is a variable 17.24 to 26.24%.
You will need good to outstanding credit to qualify.
Find it here: https://creditcard.americanexpress.com/d/delta/
Your own pros and cons of American Express business credit cards will depend upon your credit report and scores.
Just you can pick which features you want and need. So, ensure to do your homework. What is outstanding for you could be devastating for another person.
In particular, be sure to value these cards’ annual fees versus the required spends to get the best perks. If you cannot make the minimums, then why are you paying for these credit cards?
And, as always, make certain to establish credit in the advised order for the best, fastest benefits.