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Earlier this week, American Express introduced their newest business credit card, the Blue Business Plus Credit Card. This card actually replaces one of the most popular business credit cards available, the Blue for Business Credit Card.
We think it makes some serious improvements on its predecessor. In fact, for businesses looking to spend less than $50,000 on their business credit cards this year, we think it’s hands-down the best intro APR card anywhere on the market.
Before we go into more detail as to why this card has won us over, it’s important to understand what a 0% intro APR card is, so that you can figure out if these types of cards are good fits for you.
To do that, you’ve got to ask yourself two questions:
If your answer to both questions is “yes,” then you should consider 0% intro APR cards.
That’s because these cards act like a zero interest loan, letting you pay down your balance over a set intro period, during which time you won’t pay any interest on your purchases.
So, while these cards aren’t for everyone, they can be absolute must-haves for businesses knowing they’ll need to carry a balance for a bit.
Now, back to this new Amex card, and why we like it.
For starters, it’s got all of the basics of the best intro APR cards: 0% introductory APR period for 15 months and no annual fee.
This is a pretty big improvement over its predecessor, which had just a nine-month 0% intro APR period.
Right now, you’ll find no other cards with an intro 0% APR for over a year. The Chase Ink Preferred and the SunTrust Business Cash have 12-month 0% intro APR periods, but you’ll benefit from the extra 3 months APR-free with the Blue Business Plus. But you won’t find a single business card on the market with a longer intro period than 15 months.
If Amex stopped there, this card would be—at best—tied with its Chase and Suntrust competitors.
Thankfully, they sweetened the deal even further, so much so that we think what really makes this card stand out from the pack are the rewards and welcome offers.
Here’s why: You get 2x points on any purchase on this card up to $50,000, and then 1x points on any purchase beyond $50,000.
The key word there is “any.”
Most 0% intro APR cards come with lots of restrictions on what you can spend money on if you want to earn bonus points.
So, for example, they let you earn 2x or 3x bonus points on utility bills or airfare purchases, but just give you 1x points on everything else. That can make tracking the purchases you earn points on and those you don’t super tricky for the average business owner. So, in that way, the simplicity of this card is a nice breath of fresh air.
Apply for the Blue Business Plus
No card is perfect, and there are some drawbacks that you should be aware of before getting this card.
Here’s the bottom line: This new Amex card is a great fit for small business owners looking for a card with a long (i.e. 15-month) 0% intro APR period, no annual fee, and some serious, flexible rewards points earning potential.
Just make sure you pay the card down in full before the 0% intro period is over. If making timely payments is a challenge for you, consider setting up auto-pay on your account so you don’t have to worry about losing that no-interest offer.