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The Blue Cash for Business credit card was last reviewed on 22nd January 2006
Summary - We recommend the Blue Cash for Business to the small business owner who wants to earn cash rebates from their credit card expenditure. This is perhaps the best business cash rebate credit card as
You can earn 5% rebates on business purchases with OPENSavings merchants and 2.5% rebates on "other purchases"
You earn 2% and 1% rebates on OPENSaivngs and "other" purchases respectively once annual spending exceeds $15,000
You can earn unlimited rebates
There is no annual fee and additional card fees
Let us look at this card in greater detail.
Cash Rebate Formula - The Blue Cash for Business Credit Card allows the small business owner to earn cash rebate from their business spending. You earn 5% rebates on any purchase you make with American Express OPENSavings merchant partners and 2.5% on "other purchase". Once you exceed $15,000 in annual spending, you will earn 2% rebates with OPENSavings merchants and 1% rebates with "other purchases". You can earn unlimited rebates.
OPENSavings merchants include AT&T, Expensable, Fedex, Hertz, subscription to USA Today and 1800-Flowers.com.
Fees and APR - There is no annual fee for the Blue Cash for Business credit card. You get a 0% apr on purchases for six months. This will be useful for those who wish to make some capital expenditure and need some credit lines. If you transfer you balance, the apr will be 7.99% for the life of the transfer. The apr ranges from prime rate plus 2.99%, 4.99%, 6.99% or 9.99%. The average daily balance method (including new purchase) is used to calculate monthly balances. Unlike most credit cards, the grace period given is 25 days versus 20 days.
Other Benefits - The Blue Cash for Business Credit Card also gives cardholders the following benefits.
1. Purchase Protection Plan - under this plan, you can return any purchase you make if it is accidentically damaged within 90 days.
2. Travel Insurance - American Express provides accidental travel insurance for all cardholders.
3. Online Management - You can manage your account with Summary of Accounts and track charges with Expense Management Reports.
4. Online Business Community - Allows you to chat, pose questions, get insights from other small business owners, and attract new business.
5. Seek Business Advice - You can ask an expert a question, use an online tool, and read articles by other business owners.
Verdict - We highly recommend the Blue Cash for Business Credit Card to the small business owner who is looking for a cash rebate credit card. You not only earn 5% rebates on purchases with OPENSavings merchants, but you also earn 2.5% rebates on other purchases. No other credit card allows you to earn 2.5% rebates on "other purchases". Though you rebate percentages declines after $15,000 in annual spending, you still earn 2% and 1% respectively on "OPENSavings purchases" and "other purchases". You can also earn unlimited rebates.
There is also no annual fee or additional card fees. You also get a introductory 0% apr for purchases for the first six months, which will be useful to the business owner who needs some credit for capital expenditures. If you business has a good credit history, you can also potentially get a low apr.
Positives
Earn 5% rebates from OPENSaings merchantsEarn 2.5% rebates on "other purchases"Earn unlimited rebatesNo annual or additional card fee0% apr on purchases for 6 months
| Blue Cash for Business Credit Card |
| Rebate Formula |
| Rebate Percentages |
Earn 5% rebates on "OPENSavings purchases"
Earn 2.5% on "other purchases"
Earn 2% and 1% respectively once annual spending exceeds $15,000 |
| Caps on Rebates |
Earn unlimited rebates |
| Other Benefits |
Year-end account summary
24 hour customer service
Online fraud protection
Return Protection
Purchase protection plan
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| Cost/Fees/Interest rates |
| Introductory rate |
0% introductory APR on purchases for either 6 months
Fixed APR of 7.99% on balance transfers upon application throughout life of initial balance transfer |
| Annual Fees |
No annual fee |
| Purchase APR |
Prime Rate plus 2.99%, 4.99%, 6.99% or 9.99% |
| Cash Advance APR |
Prime Rate plus 14.99% |
| Penalty/Default Rate APR |
Fixed 12.99% or Prime Rate plus 21.99% for serious default |
| Min Finance Charge |
$0.50 |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
No balance transfer fee for introductory offer. Balance transfer fee may apply for future balance transfers |
| Cash Advance fee |
3% min $5.00 |
| Over-the-credit-limit fee |
$35.00 |
| Late Payment fee |
$15.00 - up to $100
$29.00 - $100 up to $1000
$35.00 - $1000 and greater |
Apply for the Blue Cash for Business Credit Card
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