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AmEx Rolls Out New Cards to Capture Small Businesses
25 Mar
Summary
- American Express introduced a new Graphite Business card.
- The card offers 2% cashback on purchases and 5% on travel.
- AmEx also plans a new corporate cashback card this fall.
American Express is enhancing its commercial credit card offerings to better serve small and middle-market businesses. The company recently launched its Graphite Business card, priced at $295 annually. This new card provides cardholders with a 2% cashback rate on eligible purchases and a 5% cashback rate on flights and prepaid hotel bookings made through AmEx's travel platform.
Further expanding its commercial services, American Express intends to release another corporate cashback card in the fall. The specific fee structure for this upcoming card will be disclosed closer to its launch. This initiative is part of a sustained strategy to be a comprehensive partner for businesses as they grow from small operations into larger enterprises.
In a move to cater to rising demand for AI tools, cardholders of the U.S. Business Platinum and Business Gold cards will receive up to $300 annually in ChatGPT Business subscription cost coverage. Additionally, AmEx will introduce new expense management software this year, aiming to improve how companies handle their financial expenditures.
