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Amazon Business American Express Credit Card

By: Sandy Kenrick | Updated: 20th November 2020.

The Amazon Business American Express brings cash flow solutions to the 21st century by allowing cardholders to choose between a deferred payment on their purchases, or the option to earn rewards points. There is also a welcome offer of a £25 Amazon.co.uk gift card on approval. The purchase rate is variable, however, if cardholders opt to pay the balance within the interest deferral period, this can be an inexpensive way to purchase stock and materials. While cardholders earn the highest rewards rate at Amazon Business, Amazon.co.uk, and Whole Foods Market, they can earn points on other purchases too.

Great for: Amazon businesses that purchase through Amazon.co.uk
3.5 stars question mark

Amazon Business American Express Credit Card

Amazon Business and American Express team up to provide UK businesses with access to a cash flow boost with its Amazon Business American Express® card. The card features payment deferment and rewards as incentives for cardholders.

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • Low annual fees
  • 1.5% Amazon Rewards on UK purchases at Amazon Business, Amazon.co.uk, or Whole Foods Market for the first £120,000 per year

REPRESENTATIVE EXAMPLE

Representative APR 32.6% APR variable
Annual fee £50
Purchase Rate 21.9% variable for purchases

what we like

  • Low annual fees
  • 1.5% Amazon Rewards on UK purchases at Amazon Business, Amazon.co.uk, or Whole Foods Market for the first £120,000 per year
  • ANNUAL FEE:

    £50
  • REPRESENTATIVE APR:

    32.6%
  • INTRO OFFER:

    £20 Amazon gift card

KEY SCORES:

  • 4/5 Perks
  • 3/5Fees
  • 2.5/5APR

HIGHLIGHTS

  • Low annual fees
  • 1.5% Amazon Rewards on UK purchases at Amazon Business, Amazon.co.uk, or Whole Foods Market for the first £120,000 per year

REPRESENTATIVE EXAMPLE

Representative APR 32.6% APR variable
Annual fee £50
Purchase Rate 21.9% variable for purchases

The Amazon Business American Express Credit Card bottom line

This card is a great cash flow solution, especially if your stock turnover is within the interest deferral period. While the APR seems a little steep with no introductory APR, it makes up for it with a reasonable annual fee.

Credit Rating Requirement: Good/Excellent

What I like about the Amazon Business American Express Credit Card

I’ve always been a fan of business credit cards that allow an interest-free period, even if only for a short period, for businesses who want to preserve their cash flow. This one goes one step further with the option to earn rewards OR defer the payment.

  • Attractive Sign-On Bonus: you know a card is business-friendly when the first and most prominent offer is cash-flow related. Amazon Business American Express cardholders receive an Amazon.co.uk gift voucher to the value of £25. While this may not seem like much, it’s money that can go directly into stock or material purchases. 
  • Reward Earning Opportunities: Cardholders earn 1.5% Amazon Rewards on UK purchases at Amazon Business, Amazon.co.uk, or Whole Foods Market for the first £120,000 per calendar year. Once this cap is reached, the rate is 1% for purchases from these suppliers. All other purchases have a rewards rate of 0.5%. Or, they can opt for 60-day terms. 
  • Streamlined Business Expenditure: Whether you have one staff member or a team that’s scattered across the country, you may need to find a way to streamline purchases such as food, fuel, and other costs that may come along. While petty cash was the way to go in the good old days, modern businesses need access to digital wallets, online payment solutions, and electronic cash flow management. The fastest, most convenient way to do this is with employee credit cards. An Amazon Business American Express account allows up to 99 additional cardholders to the account, at no extra charge. These rewards can easily be used to off-set fees, or as Amazon puts it, to invest in your next business. Cards are easily managed on their online platform, allowing effortless accounting. 
  • Low Annual Fees: An annual fee of £50 is reasonable, especially considering that cardholders have the option to earn rewards. The other fees on the account are also relatively low, such as late payment fees. 
  • The Undeniable American Express Difference: American Express has done much to expand their global footprint and the card is widely accepted across the globe. A lost, damaged, or stolen card in a foreign destination may seem daunting and American Express recognizes this by assisting cardholders with a card replacement, wherever they may find themselves. Cardholders also have access to telephonic support 24/7. 
  • Amex App: The Amex App provides businesses who constantly find themselves on the go with simple and easy access to their own credit card information, as well as that of the other cardholders listed under their account. Simple admin tasks can easily be performed through the app, minimizing unnecessary phone calls and service requests. 
  • Instant Access On Approval: Applications can take as quick as 24 hours or as long as two weeks to be approved. That being said, once the application is approved, cardholders have instant access to it. The card will be listed as one of the payment options on their Amazon Business profile. This makes it a quick and convenient way to purchase stock and materials. The gift card is also available o approval, so no need to wait to start buying.

What could be improved?

Businesses that rely heavily on Amazon.co.uk purchases will find this card ticks a few boxes. However, it’s far from perfect, and here’s why:

  • It’s pretty expensive: Its annual fee is low compared to some of the other business credit cards out there such as the British Airways American Express Accelerating Business Card which carries a burdensome fee of £210 or the American Express Platinum Business Card with its hefty £595 annual fee. But there are also cards such as the Capital On Tap Business Credit Card with no annual fee or the Santander Business Cashback Credit Card with its £30 annual fee and no foreign transaction fees.
  • The welcome bonus seems like an afterthought: If you’re going to wow potential customers, up the welcome offer to at least £50 or £100. 
  • You can’t have the best of both worlds: If you’re feeling a little tight on cash flow and decide to defer your payment for 60 days, you miss out on the opportunity to earn rewards. Over the short term, it might seem like it makes sense. Long-term issues may arise when your stock takes long to turn and you’re stuck with a hefty credit card payment in 60 days. This could create a bigger cash flow problem that keeps you in the red while you wait for payment.

 

How does the Amazon Business American Express offer stack up?

This is an ideal card for business owners that rely on Amazon purchases to keep their stock or material levels high. While it’s a good mid-level card, it’s not an all-rounder. Business owners will need to look at alternative cards to earn rewards of dining and entertainment, travel, and other purchases. Amazon Business American Express may offer rewards on other spend, but the rate is slow and won’t benefit those who have varied suppliers.

The Amazon Business American Express credit score 

There is no mention on the American Express or Amazon sites whether there is a minimum credit score criteria they will apply during the assessment.

How do you apply?

Customers can apply online through Amazon, however, applicants will need to create an Amazon account to apply for the card. The application process is simple and only takes a few minutes. Customers can track the status of the application online.

Is the Amazon Business American Express right for you?

There are few things as exciting as a well-stocked shop, and if your cash flow is tight, few things sound as inviting as a 60 deferment on payments, especially if your stock turns fast enough. If not, you have the option to earn rewards. This card is for you if the bulk of your purchases take place at Amazon Business, Amazon.co.uk, and Whole Foods Market.