Business owners have many options when it comes to choosing a credit card for their business expenses. One option worth considering is the Amazon Business Prime Card. If you frequently spend money at Amazon-owned properties for your business needs, this card could be a great fit for you. In this review, we will take a detailed look at the Amazon Business Prime Card and help you determine if it’s the best choice for your business.
TIME’s Take
The Amazon Business Prime Card is a solid contender for business owners who make purchases on Amazon. With this card, you can earn 5% back on purchases at any Amazon-owned property. These points can be redeemed on additional Amazon purchases or for statement credit. In addition, you have the option to choose 90-day terms for U.S. purchases at Amazon.com instead of earning points.
Who is the card for?
The Amazon Business Prime Card is an excellent choice for small business owners who primarily purchase their business essentials from Amazon.com, Amazon Web Services, and Whole Foods. By using this card for these purchases, you can enjoy the highest cash-back rewards of 5%. However, if you tend to shop for your business needs elsewhere, you’ll only earn 1% cash back on all other eligible purchases. In this case, there may be better credit card options available for you.
Rewards structure
The rewards structure of the Amazon Business Prime Card is designed to benefit business owners who spend a significant amount of money at Amazon-owned properties. You will earn an impressive 5% cash back on purchases from any store or site that falls under the Amazon umbrella, including Amazon Business, Amazon.com, Amazon Web Services, and Whole Foods stores. However, it’s important to note that the 5% cash back is only valid on the first $120,000 worth of purchases per calendar year. After that, the cash-back amount drops to 1%.
You’ll also earn 2% cash back on purchases at U.S. restaurants, gas stations, and wireless phone services purchased directly from service providers. All other purchases will earn you a 1% cash back year-round, with no cap. While this cash-back rate is relatively low compared to other cards, it can still be beneficial for business owners who make frequent Amazon-related purchases.
Redeeming rewards
There are two ways to redeem rewards with the Amazon Business Prime Card. The first option is to redeem points for purchases on Amazon.com and its subsidiaries. Simply add your desired items to your cart and choose “Shop with Points” at checkout. You can choose to redeem all or a portion of your points, allowing you to save money on your Amazon purchases.
Alternatively, you can also use your rewards points as a statement credit. This means that you can apply your points directly towards lowering your credit card bill, regardless of where the purchase was made. This flexibility allows you to make the most of your rewards, whether you prefer to save on future Amazon purchases or reduce your credit card balance.
Additional hidden perks
In addition to the Amazon-centric rewards, the Amazon Business Prime Card also offers several special perks for business owners. These perks include simple expense management, travel protection, purchase and return protection, and no foreign transaction fees.
With the expense management tools available to cardholders, you can easily keep track of your business expenses. The Account Manager feature allows you to assign a specific employee to manage certain aspects of your American Express account, including monitoring transactions and adding Employee Cards. By adding Employee Cards, you allow your staff to earn cash back or choose payment terms on eligible purchases. Additionally, you can link your card to QuickBooks for automatic expense categorization, access year-end summaries of your purchases, view online statements, and pay vendors through Bill.com without a monthly fee.
If you or your employees frequently travel for business, the Amazon Business Prime Card can provide valuable travel protection. This includes rental car insurance coverage up to $50,000 for the first 30 consecutive days and baggage insurance coverage ranging from $500 to $1,250. Furthermore, the card has no foreign transaction fees, making it convenient for international business trips.
The purchase and return protection offered by the Amazon Business Prime Card can provide peace of mind for business owners. If a purchase is stolen, lost, or damaged within 90 days from the date of purchase, you are eligible for purchase protection of up to $1,000 per item or up to $50,000 per calendar year. Additionally, return protection of up to $300 per item or up to $1,000 per year is available for items that cannot be returned within 90 days of purchase.
What could be improved?
While the Amazon Business Prime Card is a good option for business owners who make frequent Amazon purchases, it may not be the best choice for businesses that primarily spend their money outside of Amazon. The rewards can only be redeemed on Amazon or as a statement credit, which limits their flexibility. Offering additional ways to redeem rewards, such as exchanging points for gift cards or cash back, would make this card a more appealing choice for a wider range of business owners. If the Amazon Business Prime Card doesn’t meet your needs, there are other credit card options available that may be a better fit.
How it compares
Here’s a comparison of the Amazon Business Prime Card with some other credit cards:
| Card | Rewards |
|---|---|
| Amazon Business Prime Card | Up to 5% cash back at Amazon-owned properties |
| Capital One Spark Cash Plus | 5% cash back on hotels and rental cars booked through Capital One Travel; 2% cash back on all other purchases |
| Citi(R) Double Cash Card – 18 month BT offer | 2% cash back: 1% when you make a purchase and 1% when you pay it off |
| Ink Business Cash(SM) Credit Card | 5% cash back on office supplies, internet, cable, and phone services on the first $25,000 each account calendar year; 2% cash back at restaurants and gas stations on the first $25,000 each account calendar year; 1% cash back on all other purchases |
Unbeatable rewards
Ultimately, the Amazon Business Prime Card may be one of the best credit cards for Amazon Business Prime members. If you primarily purchase your business supplies and essentials from an Amazon-owned store or website, this card can help you save on your expenses.
Frequently asked questions (FAQs)
What kinds of rewards does the Amazon Business Prime American Express Card have?
The main reward offered by the Amazon Business Prime Card is the ability to redeem points on Amazon.com, Amazon Web Services, Amazon Business, and Whole Foods purchases. Additionally, you have the option to finance a purchase interest-free for up to 90 days.
What credit score do I need to get an Amazon Business Prime American Express Card?
In order to be approved for the Amazon Business Prime Card, you’ll generally need a credit score that falls in the “credit_score_needed” range, which is 690 or higher.
Do you need to be an Amazon Prime member to get an Amazon Business Prime American Express Card?
Yes, a Business Prime membership is required to get the Amazon Business Prime Card. If you’re not already a member, you can purchase a membership or consider the regular Amazon Business American Express Card.
Is it mandatory to use my Amazon Prime Business Amex rewards on Amazon purchases?
While points cannot be redeemed for gift cards or at other retail stores, you have the option to use them as a statement credit on your credit card instead.
The information presented here is created independently from the TIME editorial staff. To learn more, visit Personal Finances Blog.