Business Green Rewards Card from American Express review | finder.com

The Business Green Rewards Card from American Express review – December 2018

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Business Green Rewards Card from American Express

Build your credit score and earn 2x Membership Rewards points through Amex Travel.

30-second take

  • Get this card if you’re looking to earn rewards while building your credit score.
  • Pick something else if you want higher rewards or cash back.
  • Apply with good to excellent credit.
Product NameBusiness Green Rewards Card from American Express
Card TypeAmerican Express
Annual Fee$0 annual fee for the first year ($95 thereafter)
APR (Annual Percentage Rate) for Purchases20.24% variable
Foreign Transaction Fee2.7% of the transaction value
Late Payment Fee$38
Returned Payment Fee$38
Rates & FeesRates & Fees
Minimum Age18 years of age
Reward Value per Dollar1x points
Rewards Points ExpiryNever

The basics

The Business Green Rewards Card from American Express is a charge card, which means you’ll pay your balance in full with each statement. But it’s geared for the small business owner looking to earn rewards with the protections that come with American Express.

The card comes with a generous welcome offer that’s also easy to earn. You’ll get 5,000 Membership Rewards points after your first purchase in your first year your account is open. Redeem these points to pay for travel services through American Express Travel, on gift cards, when shopping and more.

You’ll also earn 2x points on purchases through American Express Travel and 1x points on all other purchases.

Despite this card requiring full payment each month, you might be eligible for more time to pay off larger purchases through Pay Over Time. This feature extends the flexibility to pay off eligible charges of $100 or more over a few months at 20.24% variable APR.

Ink Business Preferred℠ Credit Card

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 annual fee
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How much are Membership Rewards points worth?

For an idea of how much your points are worth, let’s look at the potential value of 10,000 Membership Rewards points.

You can typically redeem 10,000 points for:

  • $70 to $100 in gift cards.
  • $50 to $70 for shopping at Membership Rewards partners that include Amazon, Newegg, BestBuy and Staples.
  • $50 to $100 for such traveling costs as airline tickets, hotels, cruises and purchases through Expedia.
  • $70 to $100 for point-of-sale transactions with New York taxis and at Rite Aid.
  • $50 for entertainment purchases through Ticketmaster and AXS.
  • $50 to $100 to donate to an eligible nonprofit or charity.

How to get the most out of your Membership Rewards points

This card doesn’t offer many ways to earn multiple points for your dollar, which leaves American Express Travel your strongest way to earn.

For example, if you book $10,000 on flights and hotels through Amex Travel, you’ll earn 20,000 points. You can then redeem these points for a $200 reward, effectively earning 2% cash back — the highest value you can get out of this card.

Redeeming the same number of points for a $100 reward is equal to getting 1% back.

The perks

  • Welcome offer.

    After your very first purchase with this card in your first year, you get a bonus of 5,000 Membership Rewards points — worth up to $50 — that you can use toward travel booking, gift cards, shopping and more.

  • Earn rewards points.

    The card offers more value for travel purchases: 2x points on purchases through American Express Travel and 1x points on all other purchases.

  • No preset spending limit.

    American Express adjusts your purchasing power the longer you use it, looking at your overall spending, payment history, credit score and other factors.

You’ll also like…

  • Travel protection.

    For reservations paid entirely with this card, you’re automatically insured against accidents for up to $100,000. Your bags are also insured for up to $1,250 for carry-ons and up to $500 for checked baggage. And when renting a car, you’re insured against car loss and damage.

  • Roadside and global assistance.

    If you find yourself stranded on the road, call for emergency service through a 24/7 hotline. When you travel more than 100 miles from home, you’re extended 24/7 access to medical, legal and financial services, with only third-party costs your responsibility.

  • Online management tools.

    Use mobile banking to manage your account, set up autopay and alerts and monitor employee spending. Or transfer your account data into an existing QuickBooks account.

  • No annual fee for additional cards.

    You’ll avoid a separate annual fee for each additional card you add to your account.

What to watch out for

  • Annual fee.

    The Business Green Rewards Card from American Express comes with a $95 annual fee, which American Express waives for the first year.

  • Foreign transaction fee.

    If you plan to use your card abroad, you’ll pay a fee that’s equal to 2.7% of the amount per transaction.

  • No ability to carry a balance.

    This is a charge card, which means you must pay your full balance with each statement. However, purchases of $100 or more may be eligible for Pay Over Time.

  • No low intro APR.

    As a charge card, the Business Green Rewards Card from American Express doesn’t offer the ability to carry over most balances. If your business requires flexibility with payments, this may not be the card for you.

Consider other cards if…

  • You want travel rewards with no annual fee.

    The no-fee Business Advantage Travel Rewards World Mastercard® credit card by Bank of America offers 3x points for travel booked through Bank of America Travel and 1.5x points on all other purchases. Redeem points for flights, hotels, car rentals, cruises, vacation packages, baggage fees, gift cards or cash back.

  • You travel often and are loyal to a specific hotel.

    If you prefer a specific brand for accommodations, consider the Starwood Preferred Guest® Business Credit Card by American Express, the Marriott Rewards® Premier Business credit card by Chase or Hilton Honors American Express Business Credit Card. Each card earns you points that you can redeem for free nights, room upgrades and other cool features.

  • You want cash back without an annual fee.

    For a business that’s constantly on the road, the Business Advantage Cash Rewards Mastercard® credit card by Bank of America could be a better choice. It offers 3% cash back on gas and office supplies on up to $250,000 a year (then 1%), 2% cash back at restaurants and 1% on all other purchases.

    If it’s an Amex card you’re after, the SimplyCash® Plus Business Credit Card might be an alternative. It offers 5% cash back on office supplies and wireless services at US retailers and 3% on a category of your choice on up to $50,000 a calendar year (then 1%). You’ll earn 1% on everything else.

Compare business credit cards

Updated December 15th, 2018
Name Product APR (Annual Percentage Rate) for Purchases Introductory Purchase APR Annual Fee
17.99% to 22.99% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®
15.24% to 21.24% variable
0% for the first 12 months (then 15.24% to 21.24% variable)
$0
$500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening
15.24% to 21.24% variable
0% for the first 12 months (then 15.24% to 21.24% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months
None (Charge Card)
$0
The first corporate card for startups. No personal liability or security deposit needed, meaning your personal credit score won't be affected.
17.74% to 25.74% variable
$0 annual fee for the first year ($99 thereafter)
70,000 AAdvantage® miles after making $4,000 in purchases in first 4 months of account opening

Compare up to 4 providers

What size business is the Business Green Rewards Card from American Express good for?

Business Green Rewards Card from American Express is suited for small businesses that’d like perks while building up their general creditworthiness.

Rewards aren’t as robust as other cards, but that’s not your primary reason for signing up. With this card, businesses can manage their spending while earning Membership Rewards points that you can redeem for travel, shopping, gift cards and more.
American Express small business cards

What should I know before I apply?

When you apply for the Business Green Rewards Card from American Express, you’ll provide information about yourself and your business that includes your:

  • Business name and contact information.
  • Years in business and industry.
  • Company structure and number of employees.
  • Annual revenue and monthly spending.
  • Federal tax ID or Employment Identification Number.
  • Personal information, including your annual income.

What credit score do I need to apply?

The card is open to businesses that have a fair business credit score. But for a higher credit limit and increased possibility of approval, apply with good or excellent credit.

What do customers say about the card?

Customers online praise the Business Green Rewards Card from American Express for its Membership Rewards points and low fees. Others say the $0 annual fee for a year makes it easy for businesses to try out the card first.

American Express is accredited by the Better Business Bureau, earning an A+ that’s dependent on its internal criteria. It also earns a 3.78 out of 5 stars based on more than 170 customer reviews.

How to apply for the Business Green Rewards Card from American Express

  1. Go to the American Express website and select the Business Green Rewards Card from American Express, then click Apply.
  2. Complete the application form with required information about you and your business.
  3. Review your application and submit it.

How long will it take to be approved?

American Express offers conditional approval online, which means you could see a decision in minutes.

How long will it take to get my Business Green Rewards Card from American Express?

On approval, you’ll receive your new card through UPS in three to four business days.

I got the card. Now what?

  • Manage your account online. Sign in to your account to monitor spending, set up autopay and catch suspicious activity in its tracks. Or transfer your data directly to your existing QuickBooks account.
  • Contact customer service. For help, call American Express 24/7 at 800-528-4800. Or chat live with a representative online.

Bottom line

For small business owners looking to flexibly manage spending while building up your credit, the Business Green Rewards Card from American Express could be a solid choice. You’ll earn Membership Rewards points on everyday spending, with double the points for travel purchased through American Express Travel.

But if you already have a robust credit score, you’ll find stronger rewards and more luxurious travel perks with other cards.

Frequently asked questions

Disclaimer

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Images: AmericanExpress.com

Kliment Dukovski

Kliment Dukovski is a writer who specializes in global financial markets and personal finance, with a focus on credit cards. His main goal is to deliver honest and accurate information to help you make the right financial decision. When he's not writing about finance-related subjects, he writes sci-fi stories.

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