Amex launches new rewards credit card for small businesses

By Kelly Emmerton · · 2 min read
Fact Checked
Advertiser disclosure

Small business owners know that every dollar counts, and today credit card giant American Express has released a new piece of plastic dubbed the Business Explorer Card, aimed at getting SME owners more bang for their buck.

The new card is designed to be a blend of affordability, convenience and rewards value, with a relatively low interest rate of 16.99% attached, and 2 rewards points per $1 spent on most purchases, uncapped.

According to Amex, the card’s “combination of high rewards, low interest rate and other benefits is perfect for businesses looking to grow.”

RELATED: American Express partners with Commbank to double its uptake among small businesses

American Express said that more than 69% of small business owners opt for putting business expenses on a business card rather than on their personal credit card. One reason why was the convenience of keeping personal and business spending separate for when tax time rolls around, but another major reason was the ability to put rewards back into their business.

The card includes automatic enrollment into the Membership Rewards Gateway program, through which points can be cashed in for a range of rewards, including two of the most popular options, flights and gift cards.

As well as the regular earn rate, new cardholders can bag 100,000 bonus points, plus those who spend $100,000 annually are eligible for 50,000 extra bonus points each year.

Assuming 90% of that spend earned 2 points per $1, and the other 10% was spent at government bodies, such as the ATO, with an earn rate of 0.5 points per $1, that spend adds up to 335,000 points in the first year.

That’s enough for a small business owner to snag a free return flight from Sydney to LA, plus four $100 gift cards, according to Amex.

RELATED: Find a rewards card that suits your goals with our Rewards Revealer tool

But all this value doesn’t come free - at $395, the annual fee is one of the highest in Mozo’s business credit card database. Mozo Data Manager Peter Marshall urged small business owners to take this into consideration and weigh up the cost and benefits before diving in.

“As with any credit card, it’s really important to carefully consider your options and decide if this is the best value deal for your needs. If you’re going to get a tonne of value out of the rewards program, then it might be worth the price tag,” he said.

“On the other hand, if you tend to forget you even have points to use, then you might be better off with a low cost card without any bells and whistles.”

You can check out the details of the American Express Business Explorer credit card here, or head over to our comparison table to check out other small business credit cards available today.

More business credit cards - last updated 26 April 2024

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    Earn 170,000 bonus Qantas Points when you apply by 25 June 2024, are approved and spend $6,000 on eligible purchases on your new American Express® Qantas Business Rewards Card within 3 months of your approval date. T&C’s apply. Available for new American Express Card Members only.

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    American Express Business Explorer Credit Card

    23.99% p.a.

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    Enjoy $0 Annual Card Fee (usually $149) in the first year when you apply by 23 July 2024 and are approved for the American Express® Business Explorer Credit Card. T&C’s apply. Available for new American Express Card Members only.

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    Receive 100,000 bonus Qantas Points when you spend $4,000 on everyday business purchases within 60 days of account opening. Earn points on ATO payments at the same rate as regular everyday business purchases. Eligibility criteria, T&Cs, fees and charges apply. New cards only.

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    Earn 200,000 bonus Velocity Points when you apply by 15 May 2024, are approved and spend $5,000 on eligible purchases on your new American Express® Velocity Business Card within 2 months of your approval date1. Plus join the Virgin Australia Business Flyer program to jump direct to Tier 2 and receive a complimentary 12-month Velocity Frequent Flyer Gold Membership if you meet the eligibility and minimum spend criteria2. T&C’s apply. Both offers are available for new American Express Card Members only.

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