Searching for a card that complements your business and its expenses, and at the same time come with strong benefits? The future of procurement is here, and it goes by the name; Amazon Business Card. The features that come with this card especially for modern business processing makes the management of these finances not only eased, but also accompanied by some rewards.
Suppose they could get cashback on the everyday business purchases and options for better payment terms to help manage cash flow. Intrigued? Now let’s take a closer look why the Amazon Business Card is the tool your business needs.
Main features of the Amazon Business Card
Amazon Business Card is from American Express which is a well-known and a reputed company known for their sincerity and commendable customer services. Aimed at business people, this card is designed to fulfill the needs of small ventures together with significant companies.
Where this card shines is in flexibility, and irrespective if one is buying pencils for the office, fuel for vehicles or dining out, the Amazon Business Card is here for you with reasonable cashback rates. Moreover, it is integrated with the other existing financial tools, and this means that the transactions as well as the expenses will be easily tracked and reconciled.
Understanding the annual fee
The benefits of have the Amazon Business Card is the Card has no annual or foreign fees. Absolutely correct: All these strengths are encompassed in this card and still do not put an extra burden on the business’s financial plan. This is particularly beneficial where the organization is small, as it will mean that a strict rein will be kept on expenses.
Deciphering credit limits
Such factors as balance sheets, credit file and all other aspects that would indicate your business’s ability to meet its obligation are used by American Express to determine a limit that will allow you to fund your spending while not putting too much additional burden on your business.
Advantages of the Amazon Business Card
- 3% Back or 60-Day Payment Terms on eligible U.S. purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market. This reward is applicable on the first $120,000 in purchases each year, reverting to 1% thereafter.
- 2% Back on purchases at U.S. restaurants, gas stations, and on wireless phone services purchased directly from service providers.
- 1% Back on all other purchases.
- Amazon Business Enhanced Data Views for detailed expense tracking and reconciliation.
Standout advantage
The sole attraction of the Amazon Business Card is the ability to pay 3% cash back or have 60 days to pay with the purchases of products from the Amazon site and services related to it. Such an approach is also good because it enables the organizations to select between cash credit back bonus in a single payment or spread out in multiple installments, depending on their cash flow flexibility.
Addressing potential drawbacks
- High Variable APR ranging from 19.49% to 27.49%, which can be costly if balances are not paid in full each month.
- Limited 3% Back Cap to $120,000 in purchases per calendar year, which may be restrictive for businesses with higher spending.
- Exclusivity to Amazon Ecosystem for maximum rewards, potentially limiting benefits for businesses not heavily using Amazon services.
Standout disadvantage
The only negative that I noticed about the Amazon Business Card is that it has a significantly high variable APR. If a business is likely to run a balance from one month to another, the interest charges accrue, erasing the gains from the cashback.
Eligibility criteria
To apply for the Amazon Business Card, you need to meet several criteria: you must own or operate a business, whether it’s a sole proprietorship, partnership, LLC, or corporation; possess a good to excellent credit score to qualify.
Additionally, you must demonstrate financial stability through income statements, credit reports, and other financial documentation; be of legal age (18+) and reside in the United States; and provide valid government-issued identification along with your Social Security Number or Employer Identification Number (EIN).
How to apply for the Amazon Business Card
It is very easy to apply for the Amazon Business Card and you can follow any of several convenient ways. Be it applying through an online form, via the use of a smartphone application, or face to face consultation within branches, it is made with the least inconvenience. Here’s how you can get started:Here’s how you can get started:
Via website
The option of applying for the Amazon Business Card is possibly the simplest through an online form on the website of the company. Go to the Amazon Business Card, enter the business and personal information, and then apply for the credit card.
The website then directs you to the next step giving you prompts for each detail that has to be completed. Its operations are simple and take a very short time; the longest it can take is 30 seconds to produce a decision.
Through the mobile application
Get the app downloaded and then move to the card application tab to apply for the card through the specified steps. It also enables the tracking of the application status, management of the card, and all the features together with benefits that are availed as soon as the client is approved.
Through the store/branch
While most will use technology to apply, some might prefer to do it in branch. However, due to the nature of the Amazon Business Card where the product is digital, then it might not be possible to come across physical applications.
If you are a more of an in-person type of person, then it is suggested that you call an American Express customer service and discuss your situation with them, and possibly discuss other ways of applying for the card in person.
Amazon Business Card is not simply a payment vehicle, but a holistic solution that enables you simplify your business through handling all financial transactions in the most effective manner. Being a diverse program with considerably many benefits, the simplified application procedure makes it the most suitable program for any business seeking to maximize the efficiency of its spending and reward system.