Amazon/AmEx Business Credit Card: Perks, Reviews, Rewards Rate

Jason Moser: Lastly, we want to talk a little bit about American Express tying up here with Amazon If I'm reading correctly, this is primarily a business relationship from what I can see

The one thing that I found noteworthy was, it didn't look like there was any type of annual fee involved with this relationship American Express is pretty notorious for that annual fee Talk a little bit more about the American Express and Amazon tie-up, and what exactly that's going to mean for both companies Matt Frankel: This was actually probably my favorite announcement there just because I'm a huge Shark Tank fan, and Barbara Corcoran was the spokesperson giving this announcement Moser: It's a good show, I like it too! Frankel: On a personal level, I really enjoyed this announcement

You're correct, it's a business card This is not a personal credit card product And yes, it's no annual fee But the most unique thing is that cardholders have a choice — on one hand, Amazon Prime members could choose to get 5% rewards on any Amazon purchase, including Whole Foods; or, they can choose to have 90-day payment terms What's really unique about this is, this is not just 90-day interest-free payments

This is 90 days of no payments, meaning that you charge something, and you're billed without any interest comes due in 90 days This is a really big benefit for businesses that have cash flow issues Let's say you sell something to somebody You need to finance the cost of goods to make whatever you're selling, but then you're not going to get paid for a couple of months This really allows you to manage your cash flow so much better without that extra expensive credit card interest, or any payments due at all, until your receivables come in

I don't know of any other credit card that has zero payments for 90 days There's a lot of interest-free credit cards, but you’re still to make minimum payments along the way That was the big takeaway I saw And, it's a no annual fee product, and 5% cashback if you choose that route It's a great rewards rate for a no annual fee credit card to begin with

There's a couple of big perks to this for small businesses Moser: That's a couple of really a behemoth companies in the space, and it looks like they're tackling what is a problem with a unique and compelling solution I have to believe that they should gain a little traction with that