By revenued
Searching for a small business credit card that works well for your business can be a lengthy and involved process. Fortunately for you, we’ve compiled the more important details on the American Express Business Blue Card so you can more easily make the right choice for you.
As with any small business credit card, weighing the pros and cons are an essential part of determining if it’s worth applying for. Here are some of the major benefits and drawbacks that we found for the Business Blue card.
| PROS | CONS |
|---|---|
| Earn Cash Back – Earn 2% cashback on purchases up to $50,000 applied directly to your balance. | Inflexible Rewards – Cashback rewards are automatically redeemed as credits to your balance with no option for travel points |
| Easy Account Management – Allow trusted individuals access to managing Blue Card purchases as well as employee card limits | Not Universally Accepted – Like any American Express card, not all merchants accept the Blue Business card for payment |
| Spend Above Credit Limit – Make larger purchases when needed with no overlimit fees* and cashback rewards | No Bank – As a standalone card, customer support will be online or through the phone instead of a branch |
*Amount you can spend above your credit limit is not unlimited and must be paid back monthly as part of your minimum payment.
The American Express app ranks in as the #24 Finance App for Apple users with a rating of 4.9 out of 5 stars (1.1M), and 4.3 out of 5 stars (26.9k) for Android users on the Google Play Store. While accessing the app for this small business credit card is relatively straightforward, most of the complaints tended to be around the rewards system itself.
With an average rating of between 3.8 and 4.3 out of 5 stars among professional business card reviews, the Amex Blue Business Cash card tends to have a positive, if relatively middle-of-the-road impact. While it doesn’t necessarily stand out as a uniquely innovative card, the consensus is that this small business credit card is a strong, no-frills cash back rewards card for companies looking to avoid an annual maintenance fee.
The Blue Business Cash Card by American Express is best for businesses with great credit history looking to take advantage of that 0% 12-month APR, and who plan on spending less than the $50,000 yearly cap. Companies with below-average credit scores or who are looking for more specific rewards programs might want to look elsewhere.
One unique feature of this small business credit card is an intro APR of 0% for the first year on both purchases and balance transfers, something that isn’t available on too many business cards. After the first year, a relatively standard variable APR of 15.24% to 21.24% puts this card right in line with the majority of business credit APRs. Late payments might push your rate up to a high 29.99%.
One great aspect of this card is the $0 annual fee. You can also buy above your credit limit in that last-minute cash flow emergency with no overlimit fees. Late or returned payments can incur a fee of up to $39.
Entrepreneurs with good to excellent credit scores in the 690 to 850 range are most likely to qualify for this small business credit card. Start-ups or business owners with lower personal credit or little business credit history might have difficulty qualifying.
The Business Blue Card benefits are geared toward the protection of your purchases. Here are a few of the major perks that you would be entitled to with this Amex account.
The American Express Blue Business credit card is a simple and straightforward cash rewards card with decent rates and expanded buying power. That said, companies expecting large purchases or specific rewards in areas of travel or business expenses may be able to qualify for small business credit cards with a little more to offer in terms of cashback and perks. Businesses with little or poor credit history may have difficulty qualifying for this card. For more reviews of small business credit cards for business owners, see Revenued.com
https://smartasset.com/credit-cards/american-express-not-accepted
https://www.americanexpress.com/en-us/business/credit-cards/blue-business-cash
https://apps.apple.com/us/app/amex/id362348516
https://www.valuepenguin.com/american-express-blue-business-cash-card
https://onemileatatime.com/amex-blue-business-cash-review/
Want to be the first to know when they launch?
Entrepreneurs face tremendous challenges when attempting to start a new business. Many run out of steam, and capital, before reaching their fifth anniversary. According to statistics released in 2018 by the Small Business Administration (SBA), only about 50% of new companies survive beyond five years. A well-thought-out strategy and access to working capital are vital […]
By grant
Unlike a traditional bank loan, an MCA is best for a business owner who needs access to cash quickly, often to meet a short-term need for capital. The funds are repaid by withholding a percentage of your businesses debit/credit card sales.
By revenued
The COVID-19 pandemic led to a considerable shock to corporate revenue streams. It left many firm owners with less available working capital to cover accounts payables. The Consumer Financial Protection Bureau (CFPB) issued a report concluding that as of June 2020, there wasn’t a notable increase in pandemic-related credit delinquency. The report attributed this fact […]
By grant
As the owner of a small business, you already understand the importance of your personal and business credit scores. A good credit score is key for obtaining credit cards, loans, and other financing you need in order to grow your business or make large purchases in your personal life, such as buying a home or […]
By kostandina