The Amazon Business Prime American Express Card is a co-branded Amazon/Amex business credit card. And Amazon and Amex have delivered a solid credit card option for small business owners who also happen to be Amazon Prime members. Show
As you probably guessed, the Amazon Business Prime Card is aimed at businesses that make frequent purchases on Amazon.com or make other purchases under the Amazon banner, such as on Amazon Web Services or at Whole Foods Market. With a high reward rate for purchases in featured categories, this card could be an excellent option for businesses that make regular online purchases or require cloud services. Does the Amazon Business Prime American Express Card make sense for your business? Keep reading this Amazon Business Prime Card review to find out. Table of Contents
EligibilityWhile Amazon doesn’t detail the specific credit requirements for this card, you usually need to have good credit or better when applying for American Express cards. You’ll probably need a credit score of 640 or above to successfully apply for the Amazon Business Prime Card. Don’t know your credit score? Find out for free by visiting one of our favorite free credit score sites. Note: Being an Amazon Prime member is required for this card. If you don’t have an Amazon Prime membership and don’t feel like getting one, you can instead apply for the Amazon Business American Express card (note the lack of “Prime” in the name), which is a similar card, albeit one with less generous benefits. Amazon Business Prime American Express Card At A Glance
Rewards For SpendingRating: Excellent Let’s detail the rewards on offer with the Amazon Business Prime Amex card. Just remember: To qualify to receive these rewards, you must have an eligible Amazon Prime membership. According to Amex, “Eligible Prime memberships means a current Prime membership or Business Prime membership.” A Signup Bonus Worth $125The card’s signup bonus is quite straightforward: Once you’re approved, you’ll get a $125 gift card for Amazon.com. It’s not the most generous business card welcome bonus available, but it’s certainly nothing to sneeze at — especially if you use Amazon for business purchases. 5% Cash Back OR 90 Days Of Interest-Free Payment Terms On Amazon-Related PurchasesUnlike many credit cards, the Amazon Business Prime Card lets you customize your rewards to your liking. You’ll be able to choose one of the following two rewards options:
The extra 90-day term is especially nifty if you need additional time to pay off a specific purchase. After selecting the payment terms option at checkout, you’ll get 90 days to pay off the purchase without interest. Furthermore, there is no limit to the amount of cash back you can earn on purchases within the Amazon extended universe. Unlimited 2% Cash Back On Common Business ExpensesHere’s a nifty reward for business owners that isn’t specific to Amazon purchases. You’ll be earning an unlimited 2% back on common business expenses, including:
Because these are common business expenses, the Amazon Business Prime card might be more useful for your business. Unlimited 1% Cash Back On All Other PurchasesAs you might expect, for all other purchases, you’ll earn 1% cash back. Redeeming RewardsRating: Good Now that you know how to earn cash back with the Amazon Business Prime card, let’s look at how you redeem that cash back. Multiple Redemption OptionsYour “cash back” comes in the form of points — Amazon Reward Points, to be precise. Each point you earn is worth one cent. These points can then be used in two different ways:
These are both solid redemption options, though you won’t be able to do anything creative with your Amazon Reward Points, such as transfer them to an airline rewards program. Your points won’t expire so long as your account remains open. Card BenefitsRating: Excellent This card comes with the gamut of standard credit card benefits, plus a little extra from Amex. Free Employee CardsWith the Amazon Business Prime card, you’ll be able to get up to 99 free cards for your employees. All but the largest businesses should be able to supply their employees with free cards to use. Business Expense Management ToolsThis card gives you access to a host of expense management and tracking tools, such as a mobile app that allows you to save receipt photos and oversee employee spending. You can also send your transactions over to your QuickBooks account, should you have one. Furthermore, you can use your card to pay bills with Vendor Pay by Bill.com, though you’ll have to enroll in the program, and there may be monthly fees involved if there’s more than one user. Amex OffersSince this is an Amex card, you’ll get access to special deals through the Amex Offers program on top of these basic benefits. This program enables you to receive offers for brands, restaurants, shopping, travel, and more. When making a purchase through Amex Offers, you’ll receive rewards in the form of a statement credit or reward points. Other BenefitsHere’s what else you’ll get with the Amazon Business Prime American Express card:
Rates & FeesRating: Excellent The Amazon Business Prime card sports a reasonable APR, but no 0% introductory APR period. Also, there’s no foreign transaction fee and no annual fee. A Reasonable APRFor APR, you’ll have to pay between 14.49% - 22.49% (variable), based on your creditworthiness when you open your account. This rate is variable and can change depending on how the prime rate fluctuates. There is also a variable penalty APR of 29.49% if you make a payment that is returned, make two late payments in 12 months, or fail to post the minimum payment during the period it is due. If you must do a cash advance, expect an APR of 25.24%. This rate is also variable. No Annual Fee — With A CatchThere are no annual fees for the Amazon Business Prime Card. However, to qualify to receive the card, you’ll need an eligible Amazon Prime membership. Specifically, you’ll need a personal Prime account ($139 per year) or a Business Prime membership (starts at $60/year for one user and $179/year for three users). Because a Prime membership gets you 5% cash back on purchases under the Amazon banner if you have a personal Prime account, you’ll need to spend around $2,380 on Amazon purchases annually to recoup the cost of Prime with your card alone. Of course, Prime comes with an array of benefits, including two-day free shipping, access to Prime Video and Music, exclusive deals, and more. It’s also worth mentioning that the $125 welcome Amazon.com gift card covers nearly one year of a personal Prime membership. This means that Amazon’s premium membership may be well worth it even if you don’t break the $2,380 mark on Amazon purchases. Foreign Transaction FeesThere are no foreign transaction fees when you use this card internationally, which is good for international business travel. However, the card’s rewards scheme doesn’t particularly reward travel, and Amex cards don’t have the level of international acceptance as do Visa and Mastercard, so it’s not the best card to get if you’re looking for a business travel card. Other Fees To Keep In MindThere are a few additional standard credit card fees to keep in mind:
You cannot transfer a balance to the Amazon Business Prime card. Is The Amazon Business Prime American Express Card Right For You?This card isn’t for every business owner, particularly those who don’t use Amazon or make purchases at Whole Foods. However, Amazon’s credit card offering is an excellent choice for a specific niche of small businesses. Even for businesses outside this Amazon-reliant niche, it could still be worth a second look. If you’re looking for a secondary credit card, this could be a robust option to use whenever you buy something on Amazon.com. Is the Amazon Business Prime Amex Card right for your business? You might want to apply for this card if:
On the other hand, you may want to pass if:
What credit score is needed for Amazon business line of credit?This could be a good fit if you have a personal FICO score of 600 or more and your business has been in operation for at least six months, is U.S.-based and has at least $100,000 in annual revenue.
Can I get an Amazon credit card with a 600 credit score?To get approved for this card, you'll need to have a good credit score of at least 670, though having a higher one certainly won't hurt your chances.
Does Amazon business credit card do a hard inquiry?The Amazon Business Credit Card does a hard pull on your credit when you apply for it. This will lower your credit score for a short period of time. You need to have at least a good (700+) credit score in order to qualify.
What should my credit score be for an Amazon card?You must have a good credit score of at least 670 to be considered for either of the co-branded Amazon Signature Visa cards. Amazon also offers two store-only cards that are not credit cards and can only be used for purchases on Amazon.
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What credit score do you need for amazon business card
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