The American Express Blue Business Plus Credit Card is a favorite among small businesses. It’s got a pretty standard rewards program and no annual fee. It’s part of the Membership Rewards program, which lets you trade points for a bunch of different stuff, including cash. This card is designed for business owners with good to excellent credit scores.
It’s got some competition, though. There are other small business credit cards out there, like the Capital One Spark Miles for Business. It also competes with other Amex business cards, like the Plum Card, Business Green Rewards, Business Gold Rewards, and the Business Platinum Card.
Here’s what you need to know about the Blue Business Plus Credit Card:
New Card-Member Bonus: If you spend $3,000 on eligible purchases within your first 3 months of having the card, you’ll earn 15,000 Membership Rewards points.
Membership Rewards and Redemption: You’ll earn 2X Membership Rewards points on everyday business purchases like office supplies or client dinners. This rate applies to the first $50,000 in purchases per year, and 1 point per dollar after that. You can trade your points for merchandise, travel, transportation (including Uber rides), gift cards, statement credits, and other stuff on Amex’s Membership Rewards portal. The value of your points depends on what you’re trading them for.
Introductory APR: There’s a 0% introductory APR for 12 months from the date you open your account on purchases. After the introductory period, a variable regular APR applies, which is currently between 18.49% and 26.49%. The APR will not exceed 29.99% variable, depending on your creditworthiness and other factors.
Important Fees: There’s no annual fee or fees for additional employee cards. Foreign transactions cost 2.7%. Late and returned payments cost up to $39 each.
Spend Above Your Credit Limit: The card comes with a spending limit, but you can spend above this limit without having to apply for a higher limit first. You just need to pay off the amount spent above the limit in full by your statement due date. The amount you can spend above your limit isn’t unlimited – it depends on your use of the Card, your payment history, credit record, financial resources known to American Express, and other factors.
Additional Business Benefits: The card comes with some handy business benefits, like digital receipt storage, expense tagging and tracking, and the ability to designate an employee as your account manager and dispute resolution point person.
Credit Required: You’ll need good to excellent credit to get this card.
Advantages: There’s no annual fee, which is a nice change from other popular small business cards. The 0% APR introductory period lasts for 12 months from account opening, which is more generous than many competing business cards. Although the card requires good to excellent credit, it’s not the most exclusive card out there. If you don’t have major blemishes on your credit record, there’s a good chance you’ll be approved for this card.
Disadvantages: The card comes with a 2.7% foreign transaction fee, so it’s not great for business owners who travel abroad a lot. The card earns just 1 Membership Rewards point per $1 spent after the first $50,000 in purchases each year, which is slower than some competitors. The value of Membership Rewards points varies based on what they’re being redeemed for. Merchandise redemptions are usually worth $0.01 per point, but cash equivalents can be worth much less.
In conclusion, the Blue Business Plus Credit Card from American Express is a decent rewards card that doesn’t require massive revenues or an off-the-charts credit score. It’s a true business credit card for the rest of us. It does have some drawbacks, like a so-so rewards system, but there are worse cards out there. If you don’t qualify for a more generous American Express card at the moment, it’s not a bad place to start.
