Amazon Business Prime American Express® Credit Card Review

Navigating the sea of credit cards available today can be a daunting task, especially when you’re a business owner looking to maximize your purchases. Enter the Amazon Business Prime American Express® Credit Card, a powerhouse designed to cater to the unique needs of business owners who frequently shop on Amazon and other select merchants. With compelling cash back rates, travel benefits, and no annual fee, this card promises to be a game-changer. In this review, we will delve into the intricacies of the Amazon Business Prime American Express® Credit Card, exploring its features, benefits, pros and cons, and key takeaways.

Amazon Business Prime American Express® Credit Card Review

The Amazon Business Prime American Express® Credit Card is tailored for business owners who leverage Amazon and its affiliated services for their operational needs. This card stands out in the crowded credit card market by offering substantial rewards on select purchases, travel benefits, and no annual fee, making it an attractive option for small to medium-sized businesses.
Cash Back: One of the standout features is the 5% cash back on select U.S. purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market (up to $120,000 in purchases each calendar year). This can translate to significant savings for businesses that rely on Amazon’s vast ecosystem.
Additional Rewards: Aside from the 5% cash back, the card offers 2% cash back on U.S. purchases at restaurants, gas stations, and wireless phone services purchased directly from service providers. All other eligible purchases earn 1% cash back.
Sign-Up Bonus: New cardholders are treated to a $125 Amazon Gift Card upon approval, providing an immediate benefit and an incentive to start using the card right away.
No Annual Fee: One of the most appealing aspects of this card is that it comes with no annual fee, a rarity for business cards offering such high rewards.

Amazon Business Prime American Express® Credit Card Key Takeaways

Understanding the core features and benefits of the Amazon Business Prime American Express® Credit Card can help you determine if it’s the right fit for your business.
Generous Cash Back Rewards: Earn 5% cash back on select U.S. purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market, 2% cash back at U.S. restaurants, gas stations, and wireless phone services, and 1% on all other eligible purchases.
Sign-Up Bonus: Receive a $125 Amazon Gift Card upon approval, adding immediate value.
No Annual Fee: Enjoy the benefits without the burden of an annual fee.
Travel Benefits: Includes valuable travel benefits like Baggage Insurance, Global Assist® Hotline, and Car Rental Loss and Damage Insurance.
Interest Rates: Purchase APR ranges from 19.49% to 27.49% variable, with a higher APR for cash advances at 29.99% variable.
No Foreign Transaction Fees: Ideal for businesses with international dealings.

Amazon Business Prime American Express® Credit Card Pros and Cons

Pros

No Annual Fee: Having no annual fee means you can enjoy the card’s benefits without the worry of an additional yearly cost.
High Cash Back Rate: The 5% cash back on select Amazon-related purchases is among the highest in the market, making it highly beneficial for businesses heavily invested in Amazon’s ecosystem.
Immediate Sign-Up Bonus: The $125 Amazon Gift Card upon approval provides an excellent initial benefit.
Travel Benefits: Useful travel protections such as Baggage Insurance, Global Assist® Hotline, and Car Rental Loss and Damage Insurance.
No Foreign Transaction Fees: This feature makes the card advantageous for businesses that have international transactions.

Cons

No Balance Transfer Option: The card does not support balance transfers, which could be a downside for those looking to consolidate debt.
High APR for Cash Advances: The 29.99% variable APR for cash advances is quite steep, making it costly to use the card for this purpose.
Limited Introductory APR Offers: The card does not offer an introductory APR period for purchases or balance transfers.
Cap on 5% Cash Back: The 5% cash back rate on select purchases is limited to the first $120,000 spent each calendar year, which might be restrictive for larger businesses.

Amazon Business Prime American Express® Credit Card Benefits

The Amazon Business Prime American Express® Credit Card is packed with benefits that extend far beyond the cash back rewards. Here’s a closer look at some of the additional perks that come with this card:

Travel Benefits

Baggage Insurance Plan: Provides coverage for lost, damaged, or stolen baggage when the entire fare is purchased with the card. Coverage up to $1,250 for carry-on baggage and $500 for checked baggage, with a $10,000 aggregate maximum limit for New York State residents per covered trip.
Global Assist® Hotline: Offers 24/7 emergency assistance and coordination services when traveling more than 100 miles from home. This includes medical, legal, and passport referrals, emergency cash wires, and missing luggage assistance. Card Members are responsible for costs charged by third-party service providers.
Car Rental Loss and Damage Insurance: Provides coverage for damage to or theft of a rental vehicle when the card is used to reserve and pay for the entire rental. The collision damage waiver must be declined at the rental company counter.

Fraud and Purchase Protection

Fraud Protection: Enjoy peace of mind with robust fraud protection features that monitor and alert you of any suspicious activity.
Purchase Protection: Covers eligible purchases made with the card against damage or theft for up to 120 days from the purchase date.
Extended Warranty Protection: Extends the original manufacturer’s warranty on eligible purchases made with the card.

Convenience and Accessibility

No Foreign Transaction Fees: Save on fees when making international purchases, a great benefit for businesses with global operations.
Online Account Management: Easily manage your account, track spending, and make payments through the online portal.
Customer Service: Access dedicated customer service for any queries or issues related to your card.

Conclusion

The Amazon Business Prime American Express® Credit Card is a robust option for small to medium-sized business owners who frequently use Amazon’s services. With its generous 5% cash back on select Amazon-related purchases, 2% cash back on essential business expenses, and 1% on other purchases, the card offers substantial savings potential. The added travel benefits, no annual fee, and absence of foreign transaction fees further enhance its appeal.
However, it’s essential to consider the limitations, such as the lack of a balance transfer option, high APR for cash advances, and the capped 5% cash back on the first $120,000 spent annually. For businesses that can maximize the card’s rewards and benefits while managing these drawbacks, the Amazon Business Prime American Express® Credit Card can be a valuable tool in their financial arsenal.
In summary, if you’re a business owner who heavily relies on Amazon and its related services, this card is worth considering. Its rewards structure and benefits align well with the needs of Amazon-centric businesses, providing a combination of savings, convenience, and travel protections that can enhance both your business operations and travel experiences.