Blue Cash® for Business Credit Card

• Up to 5% cash rebate
• No annual fee
• 0% APR during your first 6 months
• There is no limit on the cash back you can earn

Just The Facts -

Issuer : American Express

APR :  An introductory 7.99% on balance transfers is offered (provided that you have excellent credit) otherwise it is higher

Introductory Period : 6 months

APR After Introductory Period : 11.24%

APR On Purchases : 11.24 % Variable

APR On Cash Advances : 23.24% Variable

Annual Fee : $0

Credit Line Possible : Blue Cash For Business has no pre-set spending limit; however, purchases are approved based on credit record, account history, and personal resources.  The minimum limit approved is $1,000. The maximum limit is 100,000.

Insurance included :  Blue Cash for Business supplies car rental insurance, a purchase protection plan, and up to $100,000 in travel accident insurance.

Financing Configuration - Interest is calculated on your average daily balance (including the day of purchase).

Grace Period - You have twenty-five days after making a purchase with your Blue Cash for Business Card during which you do not have to pay interest.

The Best Thing About It -You can transfer balances from your higher-rate MasterCard, Discover, and Visa cards, enjoy the OPEN Blue Cash for Business Rewards program.

The Worst Thing About It - Not all applicants may qualify for the lowest rate offered - the interest rate is dependent on a credit check and the variable APR rate for cash advances is unusually high. The balance rate transfer of 7.99% is also not the lowest in the industry.

Credit Rating Needed For Acceptance :  Excellent

Who Is It For?

The Blue Cash for Business Credit Card, issued by American Express, is designed for business owners with average credit who plan to take advantage of the cash back reward program.

The card is only suitable for residents of the United States. It is not available to residents of Puerto Rico.

The Benefits

The OPEN Blue Cash rewards program is generous and one of the best in the business. The cash rebate amount varies according to where the cardholder makes their purchases. Cardholders earn a cash back rebate of up to 5% at "OPEN Savings" locations and up to 2.5% for all other general purchases. "OPEN Savings" locations include FedEx, Hertz, 1-800-FLOWERS.COM, and more.

Track all of your expenses on one statement.  Online access to this statement to your account is also provided so you can stay on budget.

No annual fee is charged for the Blue Cash For Business credit card. This is an annual fee-free card.

You manage your account online. This card comes with an online account that provides the convenience of paying your credit card bill online. You are also able to monitor what goes on in your account with full access to an online account report.

Duplicate cards are complimentary.  Duplicate cards for family members who are free and you can earn cash rewards every time they are used as well.

You have a Return Protection Plan. If you try to return a designated item within 90 days from the date of purchase and the merchant won't take it back, American Express will refund the full purchase price, up to $300 per item.

You have extra protection from theft or loss of your American Express Blue Cash For Business credit card while traveling.  American Express provides quick emergency cash and emergency card replacement should your card be stolen.

You have ample of travel insurance. This card offers $100,000 in travel insurance.

The Blue Card For Business From American Express comes with a Global Assist Hotline. Whenever you travel more than 100 miles from home, you have security and peace of mind 24/7 with medical, legal, financial or other emergency assistance, including medical and legal referrals, visa/passport help, cash access, lost luggage and more

You are not held liable for unauthorized transactions that appear to be conducted on the Internet.  This means that you don't have to pay the usual $50 fraud liability fee.

The Drawbacks

The OPEN program is based on a sliding scale. It is important to understand that once the annual spending exceeds $15,000, the rebate for additional "Open Savings" purchases is 2%, and the rebate for all other additional purchases is 1%.

The introductory rate of 7.99% ONLY applies if you plan to transfer a balance from another credit card. Otherwise the rate for the Blue Cash for Business Express card is much higher.

The APR is variable! The APR for purchases varies according to the applicant's credit history and will be calculated on .99%, 5.99%, 8.99% or 10.99% + Prime Rate.

Cash Advances have an extraordinarily high APR depending on your credit rating. The APR for cash advances varies according to the applicant's credit history and the variable rate is a whopping 23.24 % variable rate!

Monthly payments are applied to purchases first.  The amounts that you pay monthly are not applied to the highest interest gathering transactions such as taking out a cash advance.  This can cause month-to-month debt to grow exponentially if you can't pay them off month to month.

The interest rate for Blue Cash for Business From American Express is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the prime rate.

The grace period is short. The grace period for this credit card is only twenty-five days compared to the usual thirty days before you start paying interest on your purchases.

Rewards points will expire. If you have not used them after a three-year period your rewards points disappear.

You cannot earn the 1% cash back on related American Express products. Cash and cash equivalent transactions (including American Express® Travelers and Gift Cheques), finance charges, fee's returned goods or services and account adjustments do not earn a rebate.

The Return Coverage is limited. Coverage is limited to $300 per item, excluding shipping and handling, and up to a maximum of $1,000 annually per Card Account and is subject to additional Terms, Conditions and Exclusions.

Fees To Watch Out For

Late payment fee :  $15 on balances up to $100; $29 on balances of $100 through $1,000; $35 on balances over $1,000

Over the Limit Fee : $35

Cash Advance Fee : 3%, $5 minimum for Express Cash transactions

Balance transfer fee :  The balance transfer fee is at the discretion of American Express and may only be disclosed at the time that the balance transfer is to take place.

To Summarize -

Blue Cash For Business from American Express has no annual fee and a reasonable interest rate for purchases (for those who qualify), which makes it ideal for those who plan to carry a balance. The card has a 0% introductory rate for up to six months of membership that can be applied towards purchases. A 7.99% introductory rate is available on balance transfers for the life of the loan.  It is important to note that the 7.99 balance transfer introductory rate only applies to those who initiate a transfer when applying for the card.