Blue Cash Preferred Card From American Express: Best For Groceries
- Rewards rate: 6 percent cash back on U.S. supermarket purchases 6 percent back on select U.S. streaming subscriptions 3 percent cash back on transit 3 percent back on U.S. gas station purchases 1 percent back on all other purchases
- Welcome offer: Earn a $350 statement credit after you spend $3,000 in purchases on your new card within the first six months. You will receive cash back in the form of statement credits
- Annual fee: $95
The Blue Cash Preferred® Card from American Express is one of the best credit cards for groceries due to its exceptional earning rate of 6 percent cash back in this category . Not only will you earn a high rewards rate on grocery store purchases, but youll also earn an unlimited 6 percent back on select U.S. streaming services, 3 percent back at U.S. gas stations as well as 3 percent back on transit purchases like ride-sharing, parking, trains and buses.
You can also earn a generous welcome bonus. Just remember that this cash back card only lets you redeem your rewards for statement credits.
Who Can Get A Business Credit Card
Business credit cards might not have been on your radar before because you may have thought you were ineligible to open one. Contrary to popular belief, though, many common activities may qualify you to apply for a business credit card.
Small businesses can include self-employed folks, freelancers and even those who have a side hustle. You can apply using your own social security number. Then, as long as you can demonstrate that you have an income stream from your business and are likely to be a responsible cardholder who pays your statements on time, issuers should at least take your application under serious consideration.
Option : Amex Business Gold Card
The second of the two cards that are usually the easiest American Express business cards to get is The Business Gold Rewards Card from American Express Small Business. The card comes with the flexibility to pay eligible purchases over time and it gives you access to Amexâs Small Business business network.
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How To Increase Your Chances Of Getting Preapproved
If your goal is getting approved for any credit card, including options from American Express, the best thing you can do is keep your credit score in tiptop shape. Generally speaking, the best credit card offers go to those with very good or excellent credit, or FICO scores of 740 and higher. However, you may also be able to get preapproved with a good credit score .
If you check your credit score and find it needs some work, you can improve it by using credit responsibly. For example, make sure you pay all your bills on time each month and pay down debt to decrease your overall credit utilization. Also, make sure youre not opening or closing too many accounts at once, which are both factors that can impact your credit score.
How Can You Speed Up Approval For A Business Card
The best way to speed up approval for a business credit card is to work on improving your credit score. The better your credit history, the easier it may be to get approved for business and personal credit cards alike. A longer time in business or higher annual revenues can also work in your favor for faster credit approval.
Raising your credit score can take time, however, so you may need to consider other methods for speeding up business credit card approval. With a secured credit card, offering a larger deposit could help your application to be processed and approved faster. With unsecured business credit cards, pre-qualification may help.
If youve received an offer in the mail, for instance, that could be an indicator that a credit card company considers you to be a good candidate for a business credit card. Youd need to complete the full application to find out whether youre approved, but a pre-qualification or pre-approval could be a positive sign.
You could also ask for reconsideration if youre denied a business credit card. Reconsideration simply means asking the credit card company to take a second look at your application. If you can make a strong enough argument as to why your application should be approved, the credit card company may be willing to grant you a business credit card.
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How To Get Approved For A Corporate Amex Card
American Express offers both small business credit cards and corporate cards. Unlike small business credit cards which are based on the owner’s credit and personal guarantee, American Express issues the corporate card to companies in the company’s name based on the company’s business credit. The payment liability wholly resides with the company, or as a combination of the company and the individual authorized to use the card.
Assess your company’s business credit and eligibility. To qualify for a corporate American Express card your company must have an established good credit record and minimum revenues of $4 million. In addition you need a DUNS number from Dun & Bradstreet, a Paydex score of 80 indicating prompt payment, and supplier or vendor references.
Determine which corporate card is the best fit. American Express offers several options, so you need to look at what is important to your company when it comes to spending limits, travel accident insurance, and cash back and reward programs.
Submit any additional supporting information American Express requests. This may include office leases, bank statements or financial statements. Providing the documentation will help American Express approve your application. Failure to submit the documentation will result in rejection.
American Express Business Credit Card
American Express® Business Credit Card
Gain more control over your spending and finances with greater purchasing power.
Stay refreshed while travelling and enjoy free Wi-Fi while waiting for flights at over 1,300 lounges worldwide with complimentary Priority Pass membership2
Points can be used to reward yourself or employees, or to reinvest in your business Learn More
If you ever have an accident while travelling youll be covered with medical and legal assistance4.
Running your business could be made easier with a great range of resources designed to help you maintain control of your business expenses, while also helping to provide some peace of mind.
- Our customer service team is here to help wherever you are in the world.
- Emergency Assistance If youre away on business anywhere in the world and run into trouble, assistance is just a phone call away, 24/7.
- Emergency Card Replacement No matter where your business takes you, if you report your Card lost, damaged or stolen, well help you replace it.
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Prequalifying Does Not Guarantee Approval
Prequalifying for a credit card offer is a great way to know whether or not you will be approved, but remember its not a guarantee. You may receive a prequalified card offer only to be denied for the card. Nevertheless, your chances are significantly improved by prequalifying first. And if you get a preapproved offer, your chances are even better.
One more important thing to note here: American Express is notorious for offering different introductory offers through different avenues. That means the offer you get on CardMatch or in the mail might not be the same as what you see on the website. In many cases, you can score a larger welcome offer by applying through a prequalified or preapproved offer but you should always compare to make sure you are getting a good deal.
Business Credit Card Requirements
So, now that we have a better sense of why you should get a business credit card, lets continue by discussing the requirements involved to actually apply for a business credit card. After all, if youre aware of the business credit card requirements and prepare them before you start an application, youll save yourself in both time and hassle.
First, if youre wondering what types of businesses are eligible for business credit cards, the answer is many types. Essentially, if you sell items or services for a profitâand have a reason for needing a business credit card, such as purchasing materialsâyou have a shot at qualifying for a business credit card.
This being said, then, lets break down 11 of the most common business credit card requirements youll need to know to complete an application. As you might imagine, some of these business credit card requirements are more straightforward than others, and the creditor will weigh some of these factors more heavily than others to determine your eligibility. Nevertheless, depending on the specific card and application process, youll likely need some, if not all of the following:
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How To Apply For Amex Business Card
You must be 18 years old and above with a good credit record. You should also have an active business for at least three months. Ensure you meet all eligibility criteria before applying for the Business Card, as it is important to maintain your relationship with the bank.
The documents required for application may include:
- Business certificate
- Financial statements
- Proof of address
Application form, You can download the application form from the AmEx website or call up to request one. You will need to fill in the business information, including the business name, contact details, legal structure, and many others.
Follow our guide on How To Fill in American Express Business Credit Card Application to make sure you complete all the required fields correctly.
When your application is approved, you will receive your card within two weeks at the address provided in the application. You can also request a replacement if you do not get it within that time frame.
How To Complete An Amex Business Card Application
Applying for an Amex small business card is almost the same process as applying for a personal Amex credit card. However, there are a few differences that can be hard to navigate if this is your first time applying for a business card.
If you already have an Amex credit card, you can sign into your account to shorten the application process. But if youre new to Amex, the first page of your business-card application will look like this:
The basic information, like your email address, is straightforward, so lets look at the boxes that can be tricky:
After filling out your business information, youll then scroll down to fill out your personal information.
Most of the questions here are straightforward, but in the Total Annual Income box, be sure you include all of your eligible income. This includes any income you can reasonably expect to use to pay your bills. For me, I can include my wifes income and my income in this section. Your Total Annual Income will include any profits youve taken from your business as well.
The Non-Taxable Annual Income box is optional and can be left blank. Still, if you receive any income exempt from federal income tax , you can enter that annual total.
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What Is The Easiest American Express Card To Get Approved For
Since American Express cards are primarily recommended for those with good or better credit, there isnt a card aimed at someone whose credit doesnt fit that description. In general, income requirements and credit profile reviews may be less restrictive for the entry level American Express cards with no annual fees over the premium annual fee cards. If youre new to credit, your profile may be better suited to a simple low annual fee cash-back card rather than a pricey premium rewards card.
Bonuses Are Once Per Lifetime
One of the most important American Express application rules to know about is the once per lifetime bonus rule.
This means that once you open up a specific card, you can never earn the bonus for that card ever again even if you cancel your card and reapply.
Theres no distinction between charge cards and credit cards with this rule, either.
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Pros & Cons Explained
The American Express Business Gold Card benefits can be valuable for business owners who spend a lot in any of the six bonus categories. However, there are areas where the card could improve that are worth noting.
- Attractive RewardsGet 4x points for every $1 in two business categories you spend the most in. This includes purchases from the following categories: airfare purchased directly from the airline, gas stations, restaurants, advertising in select media and purchases from select technology providers.
- Sizable Welcome BonusIf you spend $10,000 within the first three months upon account opening, you get 70,000 Membership Rewards points.
- Versatile Point UsageThe American Express Membership Rewards can be transferred to a variety of hotels and airlines thanks to the companys partnerships. Points can also be used for statement credit, select merchant checkouts or even your next flight.
- No Foreign Transaction FeeFrequent fliers can use the Business Gold Card from American Express to pay for their purchases abroad, as the card has no foreign transaction fees.
- No Preset LimitsThere is no preset credit limit on this card, but it does change based on your spending habits and credit history.
The benefits of the American Express Business Gold Card earned it a place in our best travel cards list. Take a look at other cards suited for travel to see if they are preferable for your spending habits.
American Express Business Gold Card: Best Overall Business Card
- Customizable rewards based on your business needs
- Good for business owners with fluctuating spending needs
- No foreign transaction fee
As far as American Express business credit cards go, the Business Gold card offers the most flexible yet competitive rewards program, something that will likely attract business owners who want to get big rewards on categories that actually matter to them. This is largely due to the customizable rewards program that lets you earn bonus points back on two of your top spending categories.
Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases.** **4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year. The points are retroactive and your categories change month-by-month based on a single billing cycle. For example, if your travel expenses are exceptionally high one month, youll be able to enjoy max rewards on those qualifying purchases. However, if its restaurant visits and client entertaining that accounts for the majority of your spending the next, the rewards program accommodates that change. You wont be locked into specific categories, which is often the case with other rewards programs. Categories include gas station, restaurant, airfare, shipping, advertising, and technology purchases.
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American Express Small Business Cards
Now that you know how to apply for an American Express Small Business Card, lets take a look at the choices available to you.
American Express offers Small Business Cards in 4 loyalty programs:
American Express Membership Rewards Small Business Cards
These are the best known Small Business cards:
Each of them has its own specific advantages.
What brings them together: they are charge cards. There are no pre-established limits, which can be convenient for a small business with many expenses.
It is also possible to maximize cash flow through a period of up to 55 days without interest.
If you prefer a card offering Membership Rewards points, heres one:
Verify And Submit Your Application
Part of the terms read:
ALL CARD ISSUED ON THE ACCOUNT WILL ONLY BE USED FOR COMMERCIAL OR BUSINESS PURPOSES
Getting a small-business card is a terrific way to keep your personal and small-business expenses separate. That said, I know people whove occasionally used a personal card for business expenses or vice versa. Just know that American Express would like you to use the small-business card only for business expenses. Then, click Submit Application.
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Confirm You Have Enough Income
If youre at least 21 years old, you can list household income and assets that you have reasonable access to on your credit card application. Applicants who are 18-20 years old can only list independent income and assets, but even having a part-time job should provide enough income to get a credit card for the first time.
Youll Earn Valuable Credit Card Perks Along The Way
Finally, an added incentive for getting and using a business credit card is the potential to earn rewards. Depending on the type of card you sign up for, youâll be able to redeem points and earn miles, cash back, gift cards, and more. Plus, some credit cards even offer a welcome bonus when you sign up and fulfill the necessary qualifications.
Moreover, you might also have the opportunity to take advantage of additional perks like travel accident insurance, extended warranties on certain purchases, and even early access to tickets for major entertainment and sports events. With a business credit card, therefore, youll not only be separating your finances and improving your credit, but youll also have the potential to earn more for your business while you spend.
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Business Entity Or Legal Structure
A business credit card application will ask you to indicate your entity typeâeither a corporation, partnership, nonprofit, LLC, government, or sole proprietorship. If youâre applying for a business credit card as a freelancer and havenât registered your business with the state, then youâll choose sole proprietorship.
This being said, if youâre registered as a corporation or partnership, you may be asked whether your business has beneficial owners. Beneficial owners are individuals, other than yourself, who own at least 25% of your company, either directly or indirectly. To clarify, âindirect ownershipâ means owning equity in a business throughanother business. For example, if you own 100% of Company A, which owns 25% of Company B, then youâre an indirect owner of Company B.
If you do have beneficial owners who own at least 25% of your company, then youâll be prompted to provide some basic information on those individualsâthis information may include their name, home address, date of birth, social security number, and percent of ownership.
If youre wondering why this information is part of business credit requirements, it was recently initiated as part of the Customer Due Diligence Requirements for Financial Institutions. This federal mandate aims to guard against criminal financial transactions, such as money laundering, by verifying the identities of registered corporationsâ owners.