Say ‘Yes’ to the New American Express Blue Business Cash™ Card for Small Businesses
July 18 2019 - 9:00AM
Business Wire
Small Business Owners Say That If They Didn’t Have to Worry
About Cash Flow, They Would Say “Yes” to More Business Growth
Opportunities
American Express is helping U.S. small businesses say ‘yes’ to
growth opportunities with the launch of the Blue Business Cash
Card, available today. The Blue Business Cash Card for small
businesses has no annual fee, offers 2% cash back1 on eligible
purchases automatically credited to your statement, and helps
business owners manage cash flow with Expanded Buying Power.
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American Express is helping U.S. small
businesses say ‘yes’ to growth opportunities with the launch of the
Blue Business Cash Card. (Photo: Business Wire)
“We know that three-quarters of small business owners experience
unexpected business costs on a monthly basis, but less than a
quarter of them feel fully prepared to deal with those unexpected
costs,” said E-Bai Koo, Executive Vice President, Global Commercial
Services at American Express. “We launched the Blue Business Cash
Card to help alleviate some of the most common pain points of
running a business so that business owners can concentrate on
growing their business."
2% CASH BACK, AND THEN SOME
According to the Blue Business Cash Survey from American
Express, 68% of small business owners plan to expand their business
in the next three years and nearly half (49%) say they would feel
more empowered to grow with a business credit card that gave them
2% cash back. With the Blue Business Cash Card, small business
owners can feel confident as they build their businesses, by taking
advantage of the automatic 2% cash back to reinvest in their
businesses and help them get one step closer to their growth
goals.
Card Features Include:
- 2% automatic cash back on all purchases up to $50,000 per
calendar year
- 1% cash back on all purchases after that, automatically
credited to your statement
- No category restrictions, so you can earn cash back whenever
and wherever
- $0 annual fee
- 0% introductory APR for 12 months on purchases and balance
transfers2
UNLOCK OPPORTUNITIES THROUGH CASH FLOW SOLUTIONS
Not surprisingly, the survey found that cash flow issues
continue to be a pain point as small business owners said they
would rather organize junk drawers (51%), take a social media
hiatus (36%) or say goodbye to their smartphone (35%) if it meant
not dealing with ongoing cash flow issues.
To help alleviate some of those pain points, the Blue Business
Cash Card offers a suite of solutions to help business owners
successfully manage their business with the option of flexible
purchasing power and more.
- Expanded Buying Power3 – Business owners can leverage
the Card beyond its credit limit* with Expanded Buying Power to
pursue growth opportunities quickly and deal with unexpected costs.
Expanded Buying Power enables Card Members to spend beyond their
credit limit without penalty in order to help pay for larger
purchases, like inventory or equipment, as well as earn cash back
on that spend. At the end of the billing cycle, the portion above
their credit limit is due in full, and Card Members still have the
option to choose whether to carry the remaining balance with
interest or pay in full.
- Additionally, Card Members will have access to Spend ManagerSM4
and Connect to QuickBooks®5 tools to manage their business, as well
as the powerful backing of American Express customer service.
*The amount you can spend above your credit limit is not
unlimited. It adjusts with your use of the Card, your payment
history, credit record, financial resources known to us and other
factors.
DISCOVER FLEXIBLE FINANCING SOLUTIONS
In addition, eligible Card Members with the American Express
Blue Business Cash Card may also qualify for additional programs
that provide alternative short-term financing options,
including:
- Working Capital Terms - This short-term financing
solution helps Business Card Members keep their business moving
forward by paying U.S.-based verified vendor invoices. With the
Working Capital Terms program, we’ll send payment to your vendor
via ACH within two business days, and you pay us back in 30, 60, 90
days**, with a low fixed fee. The program is available to eligible
Business Card Members based on at least six months of account
history, creditworthiness and other factors. Enrollment required.
More information can be found here. **Fees are between 0.6% - 1.75%
for 30 days, 1.2% - 3.50% for 60 days, and 1.8% - 5.25% for 90
days, and are subject to change. Not all customers will be eligible
for the lowest fee.
HOW TO BOOST TODAY’S SMALL BUSINESSES
Additional findings from the Blue Business Cash Survey from
American Express include:
- Nearly half (48%) of small business owners say that they would
give up their favorite junk food for a year if it meant they didn’t
have any cash flow issues for a year
- 65% of small business owners say that ‘automatic cash back’
would help them manage their cash flow
- 62% of small business owners say that automatic cash back would
enable them to reinvest in their business
- 60% of small business owners say that they plan to use the cash
back they receive from their credit card provider to reinvest back
into the business (i.e. staffing, accounting, tools, etc.)
Learn more about the full benefits and terms here.
The American Express Blue Business Cash
Survey
Research findings are based on a National Survey conducted by
Savanta across US between June 5th-13th, 2019. The study targeted a
panel of 500 new solopreneurs and business men/women (owners) from
any industry in the US; with 1-10 employees; who have been in
business from 1-5 years and have a business revenue from
$100k-$750k. All panelists have passed a double opt-in process and
complete on average 300 profiling data points prior to taking part
in surveys. Results of any sample are subject to sampling
variation. In this particular study, the chances are 95 in 100 that
a survey result does not vary, plus or minus, by more than 4
percentage points from the result that would be obtained if
interviews had been conducted with all persons in the universe
represented by the sample.
About American Express
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
information: charge and credit cards, business credit cards, travel
services, gift cards, prepaid cards, merchant services, Accertify,
InAuth, corporate card, business travel, and corporate
responsibility.
1 Cash back can be received on eligible purchases made on your
Blue Business Cash Card. The cash back is based on a percentage of
the eligible purchases you make during each billing period and will
be automatically credited to your account as a statement credit.
The statement credit will automatically appear by the second
billing statement you receive after the billing statement with the
eligible purchases. You will not receive a statement credit for
eligible purchases made if you do not pay the minimum payment due
by the Closing Date of the billing period in which it is due, or if
your Card account is cancelled before the credit is issued. For
each calendar year (starting January 1st and ending December 31st),
you will receive a statement credit of: 2% on your first $50,000 of
eligible purchases; then 1% on all other eligible purchases.
Additional terms and restrictions apply. 2 0.0% introductory APR on
purchases and balance transfers for 12 months. After that your APR
will be a variable rate, currently 15.49% - 21.49%, based on your
creditworthiness and other factors as determined at the time of
account opening. 3 You will not incur interest charges on the
portion of your account balance that is above your credit limit so
long as you pay the entire minimum payment due by the closing date
of the billing period in which it is due. If you do not, then the
penalty rate will apply to your entire balance, including any
amount above the credit limit 4 Spend Manager℠ is a feature of
American Express Business and Corporate Cards. American Express is
not responsible for the completeness or accuracy of receipts
displayed. Receipts will be stored until the earliest of the
following: (1) seven years from the end of the year that the
receipt was uploaded or (2) the date that your online account is
closed. Notwithstanding the foregoing, American Express may delete
or purge receipts for any reason in its sole discretion, with or
without notice. 5 Connect to QuickBooks works with QuickBooks
Online and is available for use with Business Cards from American
Express. Any QuickBooks Online screen shots © Intuit Inc. All
rights reserved. Intuit, the Intuit logo, QuickBooks, and the QB
logo are registered trademarks of Intuit Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190718005433/en/
Media: AMERICAN EXPRESS Felicia Mowll 212-640-1709
felicia.a.mowll@aexp.com M BOOTH Megan Hunsicker 212-539-7000
meganh@mbooth.com
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