It’s not often that we see an incredibly compelling offer from a no-annual-fee card — this brand-new offering from Amex is a notable exception.
The Blue Business Plus Credit Card from American Express, which launched today and replaces the Blue for Business Credit Card, offers a tremendous 2x points on all purchases for the first $50,000 spent each calendar year. You’re not limited to certain categories — you’ll earn 2 Membership Rewards points per dollar spent on anything, from an exotic new addition to the office fish tank to an oil change for the company car. Everything earns double points on the first $50k each year, and then you’ll earn a standard one point per dollar on all purchases after that. (These are full Membership Rewards points, so you can transfer them to partners, etc.) TPG values Membership Rewards points at 2 cents apiece, so you’re essentially earning a fantastic 4% return on purchases made with this card.
Additionally, Amex is currently offering an opportunity to earn 20,000 Membership Rewards points after you spent $3,000 in the first three months via this link — a solid offer for a no-fee biz card. You also get 12 months of 0% interest, with a variable rate of 11.99%, 15.99% or 19.99% after that. (Note that you may be eligible for 15 months interest-free if you sign up directly through the Amex site.) A 2.7% foreign transaction fee will apply to international purchases.
According to Amex, the Blue Business Plus was created specifically for smaller small businesses — think sole proprietorships, or young companies with limited revenue that could benefit most from a no-interest intro offer. And, with an all-encompassing 2x bonus, business owners can spend more time focused on growing their companies and less time worrying about which card will earn them the greatest return. You’ll also be eligible for discounts through the OPEN Savings plan.
The Blue Business Plus also functions a bit like a hybrid credit/charge card — cardmembers may be able to spend beyond their credit limit as long as that extra amount is paid off in full during the next statement period (in other words, you can’t carry this over-the-limit balance to the next month).
The 20,000-point bonus makes this offer especially compelling. Add in the ability to earn 2 points per dollar (even though it’s limited to the first $50,000 spent each year) — plus the fact that this card does not come along with an annual fee — and the Blue Business Plus is a card you’ll likely want to keep around for a long time to come.