Update 8/15/18: Reddit user -INR has leaked/found the Amazon small business card design. This should mean the card will be released soon.
American Express announced today plans to launch a new cobranded Amazon credit card for small businesses in the U.S., the first Amazon-Amex cobrand partnership.
Not much is known yet about the card, and no information has been given on any sort of rewards structure for the card. It’s safe to assume the card won’t earn more than the 5% discount found on Amazon’s personal credit card lineup. I wouldn’t be surprised if they don’t offer great rewards at all on the card, and just focus on business needs like payment plans. Also doubtful that there will be any significant signup bonus (the Amazon personal cards offer an Amazon gift card of $40-$70 for signing up).
According to the original word from last month, the card is slated to have rewards, and also to offer a business insurance. They also highlight in the press release that the partnership will include “an enhanced data solution that gives businesses in the U.S. greater insight into their purchasing activity,” likely similar to the kind of data Amex gives on their other small business credit cards.
This is another win for the American Express who just yesterday got a Supreme Court anti-steering ruling in their favor. There may be an element of brand prestige Amazon was looking for in this partnership, aside from the fact that Amex is a leading small business lender in the credit card industry. Chase and Citigroup were also vying to become issuers of the card.
Keep in mind, the card will apparently be a credit card, not a charge card, and may take up one of your 5 spots you get from Amex.
Amazon currently issues a co-branded credit card with Chase and a co-branded store card with Synchrony. Amazon is also in talks to offer a co-branded checking account.
