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|Offers a good introductory APR promotion on purchases and balance transfers||No welcome bonus|
|High rewards rate on purchases||Has a cap on certain rewards|
|No annual fee||Requires a personal guarantee|
From cardholders in the last year
What you should know about The Blue Business℠ Plus Credit Card from American Express
The Blue Business℠ Plus Credit Card from American Express is an excellent choice for small-business owners. Here’s what you should know.
The Blue Business℠ Plus Credit Card from American Express offers two Membership Rewards points on everyday business purchases you make on up to $50,000 per year. After that, you’ll earn one point per $1.
With this structure, you don’t have to worry about making sure your expenses align with your credit card’s bonus rewards categories. But if your business expenses far exceed the card’s $50,000 cap, it may not provide as much value as a card without a cap.
Introductory 0% APR
When you first get the card, you’ll receive a 0% introductory APR on purchases and balance transfers for 15 months from account opening, but there are a few things you should know.
- After that, your APR for both purchases and balance transfers will be a variable rate, currently 13.49% - 21.49%.
- There’s a balance transfer fee of 3% (minimum $5) of the amount you transfer.
- You’ve got 60 days from your account opening to request the balance transfer to make use of the offer.
This is notable because 0% intro APR promotions are less common among business credit cards than they are with consumer credit cards. And an intro period of 15 months can give you plenty of time to pay off a large expense or a transfer from another business credit card.See our favorite balance transfer business credit cards
Credit bureau reporting
When we reached out to American Express, a representative told us that your card activity is reported to the commercial credit bureaus as long as your account is in good standing. But be aware that this may not always be the case. This information is accurate as of Nov. 2, 2018, but the company’s policies could change at any time.
While the card could help you build your business credit, know that it could also affect your personal credit. We asked about that too, and American Express told us it reports your account activity to the three main consumer credit bureaus — TransUnion, Experian and Equifax — if your account is not in good standing. We checked this on Nov. 2, 2018, but again, this could change depending on Amex’s policies.
One flag you can look for when you’re trying to understand a business card’s potential impact on your personal credit is whether it requires a personal guarantee (this card, like most business credit cards, does).Learn more about the impact of business credit cards on your personal credit
Free employee cards
On top of the $0 annual fee for this card, American Express allows you to add employee cards for no extra fee. You can place spending limits on each card online or by calling customer service.
Who this card is good for
The Blue Business℠ Plus Credit Card from American Express has a straightforward offering, making it an excellent choice for new business owners and businesses that don’t have a lot of expenses.
With the introductory APR, you can finance necessary startup costs and pay them off interest-free. To give you an idea of how much you could save, let’s say you make a $10,000 purchase and pay it off over 15 months. With this card, your monthly payment would be $666.67 per month, and you wouldn’t pay any interest.
But if you’re paying a 14.38% APR (the average credit card interest rate, according to August 2018 data from the Federal Reserve) over the same period of time, your monthly payment would be $732.35. You’d pay $985.30 in interest over those 15 months.
Between those savings and a high rewards rate on purchases before you hit the cap, the card could make up for the lack of a welcome bonus over time.
Not sure this is the card for you? Consider these alternatives
If you’re uncertain whether The Blue Business℠ Plus Credit Card from American Express is the best fit for your business, compare it with other top business credit cards. Here are a few of our favorites.
Ink Business Cash℠ Credit Card: We found that this card could be a good choice for business owners who have a big upcoming purchase, or who spend a lot on office supplies. Read more on the Ink Business Cash℠ Credit Card.
Ink Business Preferred℠ Credit Card: If you’re a traveler, this card could help you get to your next trip faster with its flexible rewards program. Our review of the Ink Business Preferred℠ Credit Card takes a closer look.
Capital One® Spark® Cash for Business: This might be a good card for you if you have really high business expenses. Check out what cardholders have to say about it the Capital One® Spark® Cash for Business .