What are the best Amazon credit cards for business?
Amazon isn’t just the world’s largest e-commerce marketplace; it is also the issuer of consumer and business credit cards. These credit cards come with generous rewards, no annual fees, and competitive annual percentage rates, making them attractive to many small business owners.
With several Amazon credit cards to choose from, which one is right for you depends on your spending habits, your credit rating, and your business needs.
Why you should consider an Amazon business credit card
Business credit cards have some great benefits if you pay off your balance every month. By far the most important benefits of a small business credit card are the signup bonuses and rewards you receive on qualifying purchases. Rewards are cash back or points that you can redeem for gift cards, travel, entertainment, products and services. The more you spend on your business credit card, the more cash back or reward points you earn. [Want more options? Check out our Guide to Choosing a Business Credit Card.]
There are three common ways that credit card issuers reward customers:
- With a flat rate card, you receive the same percentage of cashback or reward points on all your purchases.
- With a tiered reward system, you get different points for different categories of spending. For example, you can recover 5% for gasoline but 2% for travel.
- Revolving Reward Credit Cards give you cash back or reward points on a schedule, so you could get 3% on trips one quarter and 5% on gas the next.
Amazon credit cards, for both consumers and businesses, have rewards on many levels. They award you different cash back percentages depending on the expense category. The most generous rewards are reserved for spending with Amazon.
âFor businesses that heavily use Amazon products or Amazon services, that would be appealing,â Gerri Detweiler, director of education at online business lender Nav, told business.com. “Its cards are comparable to the interest rates charged by other credit cards.”
If you are a regular Amazon buyer, there is a card for you. Read on to find out what Amazon has to offer.
Amazon Business Credit Cards
Amazon Business American Express Card
Amazon’s basic business credit card is the Amazon Business American Express Card. Her welcome offer is a $ 100 Amazon gift card upon approval, and she offers customers 3% cash back or 60-day interest-free payment terms on U.S. purchases from Amazon Business. , Amazon Web Services (AWS), Amazon.com, and Whole Foods Market. . Customers can choose between the 3% cash back and the 60-day payment term at each checkout.
There is no annual fee on the Amazon Business American Express card, which is available to any business with an Amazon account. However, Amazon caps the rewards you can receive at $ 120,000 each year. After that it’s 1% cash back.
The Amazon Business American Express card also gives you 2% cash back at restaurants, gas stations, and wireless phone services when you make purchases directly from service providers. All other purchases earn you 1%.
The benefits don’t end with the rewards. Business credit card owners get an enhanced view of their purchases through Amazon’s platform that lists every item purchased, business-only pricing on over 5 million products, and the ability to set up multiple card users.
Depending on your credit score, the annual percentage rate (APR) ranges from 14.24% to 22.24%.
Amazon Business Prime American Express Card
For Amazon Prime customers, the American Express Amazon Business Prime Card gives you 5% cashback on your first $ 120,000 in purchases from Amazon Business, AWS, Amazon.com, and Whole Foods Market, and 1% back. You can choose 90-day interest-free terms instead of the 5% cashback on a buy-to-buy basis at checkout.
Cardholders also get a 2% discount on their direct purchases at restaurants, gas stations, and wireless phone services. The standard 1% discount applies to all other purchases. As with the Amazon Business American Express card, the APR ranges from 14.24% to 22.24%, depending on your credit score.
Small business credit cardholders get an enhanced data view for insight into their purchases, with no overseas transaction fees and points that never expire.
âThese credit cards are built on Amazon’s products and services,â said Ted Rossman, industry analyst at CreditCards.com. “The rewards are better when you buy Amazon, Amazon Business, Amazon Web Services, and Whole Foods.”
Amazon Consumer Credit Cards
Business credit cards have many benefits, but they can be difficult to obtain, especially amid the COVID-19 pandemic.
âIssuers are more cautious in extending new credit cards and lines of credit,â Detweiler said. “In this environment, you might find it more difficult to get approved for a credit card.”
The credit card company’s decision to approve an application is based on the business owner’s personal credit rating, business income, and other sources of income. It also requires the business owner to sign a personal guarantee. If your business can’t pay the balance, Detweiler said, the credit card issuer can sue you personally. [Read related article: How to Apply for a Business Credit Card]
If you think you aren’t approved for a business credit card, you still have options for an Amazon credit card. Amazon has two consumer credit cards you might be eligible.
Amazon Rewards Visa Signature Card
The Visa Signature Amazon Rewards card offers cardholders 3% cash back on Amazon.com and Whole Foods Market purchases; 2% return in restaurants, gas stations and pharmacies; and 1% discount on all other purchases. You get a $ 50 Amazon gift card as a welcome bonus when you are approved. The card offers interest-free financing on purchases over $ 50, with no annual credit card fees or overseas transaction fees.
The APR on the Amazon Rewards Visa Signature card ranges from 15.74% to 23.74% depending on your credit score. This credit card is for people who do not have an Amazon Prime account.
Amazon Prime Rewards Visa Signature Card
Available only to Amazon customers with a Prime account, the Visa Signature Amazon Prime Rewards card gives you 5% cashback on all purchases at Amazon.com and Whole Foods Market, and 2% at restaurants, gas stations and pharmacies. All other purchases earn you 1%. You also get up to 20% off rotating Amazon categories.
Like the non-Prime version, this card offers interest-free financing for purchases over $ 50 and no annual or overseas transaction fees. The APR ranges from 14.24% to 22.24% depending on your credit score.
Amazon credit cards vs. other options
Amazon’s credit card suite has a lot of associated rewards, but they only make financial sense if you shop a lot on Amazon or use its commercial services. If you’re not an avid Amazon user, want cash back or rewards in more categories, or want a 0% APR introductory rate, these cards aren’t your best options. They also don’t make sense if your credit score is questionable.
âAmazon cards are niches,â Rossman said. “You can use it elsewhere, but it makes more sense if you buy from Amazon.”
If you’re in the market for a business credit card but aren’t a loyal Amazon customer, Rossman has listed the following options.
Capital One Spark Cash
Capital One Spark Cash is for business owners who want to keep it simple. It gives you unlimited 2% cash back on all your purchases, a one-time $ 500 cash bonus if you spend $ 4,500 on the card within three months of opening an account, and no annual fee. the first year. After that, it’s $ 95 per year. The variable purchase APR is 20.99%.
Chase Ink Business Preferred Credit Card
With the Chase Ink Business Preferred Credit Card, you get three points for every dollar on the first $ 150,000 you spend on travel, shipping, Internet, cable, phone, and online advertising purchases. If you spend $ 15,000 in the first three months, you get 100,000 bonus points. Once you’ve maximized your spend, you earn unlimited point for every $ 1 spent on all purchases. As long as the account remains open, the points do not expire. The APR on this card is 15.99% to 20.99%.
American Express Blue Business Cash Card
Another general purpose cash back card, the American Express Blue Business Cash Card rewards cardholders with 2% cash back on purchases up to $ 50,000 and 1% back on all purchases afterwards. American Express also attracts business owners with a signup bonus credit of up to $ 300 if you use the card for qualifying purchases from Dell Technologies, DocuSign, and FedEx in the first three months. There is an introductory 0% APR on purchases in the first 12 months, then the APR ranges from 13.24% to 19.24%, depending on your credit score and other factors. There is no annual fee for the American Express Blue Business Cash card.