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American Express Small Business Banking

American Express Background

American Express is not a bank – but it does offer special credit cards oriented toward small businesses.

Globally known, AMEX, as it’s commonly called, is a unique entity in the credit providing world. It’s cards can provide – if your credit and reputation is sufficient – virtually unlimited ‘cash advances’, which you can think of as ‘credit’, as in ‘credit card’, but the difference is, credit for purchases (or whatever) extended through AMEX is due to be paid back quickly – not over an extended period of time, as ordinary credit cards allow.

AMEX cards can open doors, enable you to close deals, even high-value ones, but you really need to be able to meet prescribed payments, within a reasonable time, or they will come down on you -- as they're fully entitled to, and justified in doing. (They have, if you have a bill, allowed you to do things -- make purchases, make financial business commitments, whatever -- in a way no one else will. They operate at least one high-personnel-count call center focused on collections, and agents working there are very good at arm-twisting or whatever else it takes to get you to pay up, promptly. It's not uncommon for those agents to earn in the six-figure range, because too many individuals don't understand what ignoring an AMEX bill can do to their credit rating...and damage them in other ways.

AMEX cards with flexible pay options include the 'Plum Card', which offers up to 3.5% back on purchases of $30,000 within the first three months, pl;us an additional $200 card credit for every $10,000 you spend on the card; the Blue For Business Card, offering 10,000 Membership Rewards (r) points after making your first purchase on the card with your first three months of membership, and the Simply Cash card, offering cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers, and there's no annual fee. (The Plum Card has a $250 annual fee; The Blue For Business card does not have an annual fee.)

AMEX is, truly, unique: It's credit cards account for roughly 24% of all credit card transaction in the U.S.; This company established, and has thrived, in an environment requiring quick paybacks on sometimes substantial 'advances', or 'credit'. It is a solid, reliable, trustworthy company that can provide invaluable credit services to small businesses. Its multi-layered website provides just about all you need to know -- that you don't already know -- about this company's reputation, way of doing business, and benefits to your small business.

Customer Review

"I love to flash my AMEX Plum card. Most people don't appreciate more than that's it's special. That's all I need them to know -- that and the fact I rely on American Express." -Kenneth W.