Amazon Launching a Small Business Credit Card With Amex
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Well this one just came a bit out of left field. American Express just shared plans to launch a co-branded card with Amazon, specifically targeted at small businesses in the US.
Details are light, but we do know that this product will be a credit card, rather than a charge card, and that it "includes an enhanced data solution that gives businesses in the US greater insight into their purchasing activity." This data solution actually already launched earlier this year, and it provides business owners with line-item detail on Amazon transactions when they use an Amex corporate card or corporate purchasing card.
Though a launch date has yet to be announced, once it's on the market it'll sit alongside the retailer's existing consumer cards, the Amazon Prime Rewards Visa Signature Card and the Amazon Rewards Visa Signature Card.
While companies have traditionally partnered with just one issuer for their co-branded cards, there's been more of a shift to splitting products between multiple issuers, instead. Most recently, Marriott surprised travelers by continuing its partnerships with both Amex and Chase — Amex manages the higher-end and small business products, while Chase has the new Marriott Rewards Premier Plus Credit Card.
It's not yet clear what benefits and earning rate will be included with Amex's upcoming Amazon card, though it's possible that we could see a rewards structure similar to that of Chase's consumer version, which offers:
- 5% cash back at Amazon.com and Whole Foods Market
- 2% back at restaurants, gas stations and drugstores
- 1% back on all other purchases
While this new small-business card could offer an even better return, we already have some pretty decent options when it comes to spending with the retail giant. For a detailed look into which offer the best bang for your buck, see The Best Cards to Use for Amazon Purchases.