Generous opening account bonus
When your business applies and receives approval for the card, you earn a $125 Amazon gift card. Unlike other credit cards, where you must open and spend a specific amount to earn a bonus, this card gives you one with no hoops to jump through.
While the bonus is lower than what other lenders offer (you receive a $500 bonus with the Capital One Spark card when you charge $4500 within the first 90 days), you are also not under any obligation to make any purchases within a narrow window either. It makes the reward more universal for businesses.
5% cashback rewards at select retailers
Cashback incentives are another benefit of the Amazon Business Prime American Express card. You receive 5% back on purchases made through AWS, Amazon.com, Whole Foods, and Amazon Business up to the first $120,000 charged in each calendar year. Once you reach the threshold, you earn 1% back on all other expenses made with your credit card.
American Express also incentivizes other purchases made by companies. You receive 2% cashback on all expenses related to restaurants, cell phone suppliers, and gas stations. For all other purchases, you receive 1% back. There are no spending caps on the 2% or 1% cashback incentives.
All of the rewards accumulated translate to Amazon points. These points do not have an expiration date, so you can harvest them as long as you would like. Use them for purchases made at Amazon, or you can apply your rewards as statement credit.
On this end, the credit card is a wise choice for companies that make many purchases through Amazon or do much in fuel, dining, or cellular expenses.
Flexible repayment terms
American Express offers flexibility in how you finance your expenses. You can either take advantage of the 5% cashback incentive or a 90-day interest-free repayment window. If you plan to make larger purchases, this option gives you more wiggle room in your budget to finance them without any added expense. While you will not earn the cashback rewards, you also do not have to worry about paying interest either, which can range from 14.24% to 22.24%.
Easy management tools
American Express makes it simple to manage all your expenses in one place. With the Amazon Business Enhanced Data Views, it itemizes every purchase made on your online statement. You can also integrate your card data into QuickBooks. Once set up, QuickBooks categorizes your spending for you, so you can easily keep track of where your company's money goes.
Moreover, there are account management tools to make your life easier. The Account Manager is like your personal assistant who can make payments, request more cards for employees, and review transactions. It is a time-saver for those juggling multiple hats within their company.
Another tool is Vendor Pay with Bill.com. With it, you can set up automatic payments to vendors through the platform. The Basic plan is free to use. It allows you to earn rewards on purchases you make anyway (provided you set up the Amazon Business Prime American Express card as your default payment method). It also saves you time relative to making individual payments monthly.