The Amazon Business Prime American Express Card is tailor-made for small business owners who frequently shop on Amazon. As an avid Amazon shopper myself, I was intrigued by this card and decided to take a closer look at its features and benefits.
Through my research, I uncovered 7 key things every business owner should know about the Amazon Business Prime Card before applying. In this article, I’ll provide an in-depth look at how this card can benefit your business.
1. It’s Specifically Designed for Amazon Business Customers
The Amazon Business Prime Card is explicitly crafted for existing or new Amazon Business customers in the United States. So if your business relies heavily on Amazon for supplies and materials, this card aims to provide additional rewards and perks.
I have been an Amazon Business member for years to streamline ordering essentials for my small business. The seamless integration between the card and my business account proved immensely convenient.
As soon as I got approved, the card automatically synced with my Amazon Business profile. This connectivity enabled me to seamlessly toggle between payment methods at checkout and track purchasing patterns.
The card also lets you manage employee spending and access enhanced business reports on the Amazon Business portal. If you want deeper visibility into your company’s Amazon purchases, this card can help provide meaningful insights.
2. Prime Membership Is Required for the Best Rewards
To qualify for the highest rewards rate, you must have an Amazon Prime membership—either a regular Prime account or Business Prime.
Here is how the rewards work:
- With a Prime membership: You’ll earn 5% back on the first $120,000 in Amazon purchases per calendar year, then 1% back thereafter. This is an increase over the standard business card’s 3% cashback.
- Without a Prime membership: You’ll earn 3% back on the first $120,000 in Amazon purchases per calendar year, then 1% back thereafter.
The 5% and 3% rewards apply to eligible purchases on Amazon.com, Amazon Business, Whole Foods, Amazon Books, and Amazon Go stores. But Prime membership is necessary to earn the highest rate.
I compared these rewards against other business cards and found the 5% cash back from the Amazon Business Prime Card to be unmatched for Amazon purchases. The $120,000 yearly spending cap is also generous compared to similar cards.
Just note that this card’s rewards come in the form of points rather than pure cash back. But 100 points equals $1, so the conversion is straightforward.
3. The Card Has Decent Earning Rates Beyond Amazon
While this card shines for Amazon purchases, it can also earn decent rewards for expenditures beyond Amazon:
- 2% back at restaurants, gas stations, and cell phone services
- 1% back on all other purchases
These bonus category rewards can provide additional value throughout the year. For example, the 2% back on dining can quickly add up with frequent client lunches or team meals.
Just know the rewards rates are not industry-leading outside of Amazon. But they still offer a nice additional return compared to a standard 1% cash-back card.
I ran some calculations and found the card could earn my small business around $1,000 per year in total rewards when factoring in Amazon purchases, dining, gas, and more. Not bad!
4. Cardmembers Gain Access to VIP Financing Deals
One lesser-known perk of the Amazon Business Prime Card is access to special financing offers on large Amazon purchases.
As a cardholder, you can take advantage of 0% APR financing for 6, 12, or 24 months on qualified Amazon orders of $500 or more. There is also a 0% APR option for 24 months on Amazon purchases of $5,000 or more.
This financing offer does not apply to products purchased with Payment Terms, which is a separate credit line. However, it can provide flexibility when buying pricier items for your business on Amazon.
For example, if you spend $3,000 on laptops and supplies on Amazon, you could split that charge into 12 monthly payments with the 0% APR promotion. This can help manage cash flow for larger purchases.
5. No Foreign Transaction Fees Is Great for International Purchases
As a business owner who occasionally orders from international vendors, I was pleased to see no foreign transaction fees with the Amazon Business Prime Card.
Many credit cards charge a 3% fee on purchases made abroad. But this card waives foreign transaction fees, which can save significantly on international orders.
Let’s say your business spends $5,000 annually on products from overseas suppliers. With a 3% foreign transaction fee, you would pay $150 in fees. But the Amazon Business Prime Card waives those charges entirely.
While Amazon does not directly control fees charged by international sellers, the card’s lack of foreign transaction fees provides broader savings opportunities.
6. Employee Card Options Help Manage Company Spending
Having employees make purchases on your business credit card introduces risk. However, the Amazon Business Prime Card provides ways to manage employee spending.
You can add up to 99 employee cards to your account and set customizable spending limits for each cardholder. I plan to take advantage of this feature when providing cards to my staff members.
The account manager can also enable spending alerts for certain merchant categories. So you can get notified any time an employee transacts with a potentially unauthorized merchant.
These employee card capabilities bring enhanced visibility and control compared to cash or personal card use. As an account admin, you gain greater oversight into company expenditures across employees.
7. Excellent Business Protection Benefits Are Included
Beyond the rewards and perks, the Amazon Business Prime Card extends robust protection benefits for business purchases. Here are some of the most valuable features:
- Extended warranty: Extends manufacturer’s warranties by 1 additional year on eligible purchases with the card.
- Purchase protection: Covers damaged or stolen items for 90 days from the date of purchase, up to $1,000 per occurrence and $50,000 annually per account.
- Lost luggage reimbursement: Provides reimbursement for lost or damaged luggage for up to $1,250 for carry-on bags and $500 for checked bags.
- Rental car insurance: Secondary coverage for rental cars providing reimbursement for theft and collision damage.
- Travel protections: Provides emergency assistance, travel accident insurance, and access to the Global Assist hotline when traveling abroad.
These benefits provide tremendous peace of mind for business owners who want security for their company’s purchases. I am particularly fond of the purchase protection, which can reimburse expensive damaged equipment.
Final Take: A Specialized Card for Amazon-Centric Businesses
After closely evaluating all aspects of the Amazon Business Prime Card, I determined it is an excellent option for companies deeply embedded within the Amazon ecosystem.
If your business purchases heavily from Amazon, the 5% back reward and integrated Amazon Business features are extremely valuable. You’ll also benefit from 0% financing offers, no foreign transaction fees, and strong business protections.
Just keep in mind the most lucrative rewards are capped at $120,000 in Amazon purchases annually. And the card’s rates outside of Amazon, while decent, are not category-leading.
But for business owners who live and breathe Amazon, the seamless account integration and robust rewards program make this a card well worth considering. The Prime membership requirement is a non-issue if you already pay for Amazon Prime or Business Prime.
Overall, the Amazon Business Prime Card stands out as a specialized offering tailored specifically for regular Amazon Business customers. It’s crafted to maximize rewards and perks for companies that rely on Amazon as an essential business expense.
To view rates and fees of the American Express® Gold Card, see Terms and Rates.