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American Express is doing away with one of the perks of its business program. Effective June 1, 2018, Amex is discontinuing the OPEN savings program, a long-time benefit with many of the cards in its business portfolio.
As reported by Doctor of Credit, on cardholders’ March statements, Amex included the notice that the OPEN savings program is ending. More specifically, the notice reads:
“Effective June 1, 2018, the OPEN Savings program will no longer be available on your Business Card. You can view savings and rewards opportunities for business purchases, including offers from FedEx, in Amex Offers, which you can access by logging into your American Express online account at americanexpress.com.”
The OPEN Savings program is a benefit that comes with select cards in the Amex business portfolio, such as the Business Platinum® Card from American Express OPEN and the Business Gold Rewards Card from American Express OPEN, among others. With the OPEN savings program, cardholders get access to additional earning or discount possibilities. For cards that earn Membership Rewards points, cardholders could also choose one of two bonuses: a 5% discount or an extra two points per dollar at retailers like FedEx, Hertz and more.
Amex is giving about a three-month notice for this change, allowing cardholders to plan ahead for the eventual discontinuation of the program. While this is disappointing, there’s still plenty of value to be had from many Amex business credit cards, including the ability to continue receiving offers through Amex Offers.
Though the Business Gold Rewards card doesn’t have the benefits package of the more premium Business Platinum Card, it also doesn’t have that card’s $450 annual fee. In fact, the $175 annual fee on this one is waived the first year, so getting it is like a risk-free trial of its benefits plus it comes with appealing bonus spending categories like 3x on the category of choice and a range of 2x spending categories as well.
- Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership
- Get 3x points - Choose 1 out of 5 categories
- Plus, 2X points on the 4 remaining categories and 1X points on other purchases
- 3X and 2X apply to the first $100,000 in purchases in each of the 5 categories per year, 1X point per dollar thereafter
- Track, organize, and stay on top of your business expenses with powerful expense-tracking tools
- No foreign transaction fees
- $0 introductory annual fee for the first year, then $175
- Terms and limitations apply
- See Rates & Fees