Featured Credit Card: American Express Blue For Business
For the small business owner a credit card can be a valuable tool that provides both convenience and cost savings. When selecting a credit card, there are two key features that I argue must be an integral part of any credit card owned by an individual or a business: No annual fee and a respectable grace period. American Express Blue for Business has both of these features and more.
No Annual Fee
A credit card should be a convenience to the user. It provides immediate access to make purchases when you need to make them and helps you plan your cash flows accordingly. Annual fees for the privilege of having a credit card are starting to be a thing of the past. Many people nowadays carry a balance on their credit card and this has become the bread and butter of the credit card companies. I never recommend carrying a balance on your credit and it only follows that you should never pay any kind of fee to your credit card company.
Grace Period
The grace period afforded by your credit card company should be between 25 and 30 days. Having a grace period is critical to both the personal and business user of credit cards. The grace period reduces your need to carry cash and write checks and helps you plan your cash flows accordingly without running into a cash crunch when there are unexpected purchases.
The grace period can help you earn money as well. By placing your cash into a high yield savings account such as an ING Direct account, you can actually earn interest on your money during the grace period.
For more on using your credit card to save money see Tips To Reduce Credit Card Debt Problems.
Other Features
Some other features of the American Express Blue for Business credit card include a rewards program that allows you to earn rewards for almost every dollar you spend. These rewards can be redeemed for travel or other rewards through American Express partners. In addition, there are no limits on the rewards you can accumulate nor is there any expiry date on the rewards earned.
The American Express Blue for Business credit card also has discounts between 3% and 25% on purchases from certain suppliers through the OPEN Savings program. This is another feature that go help you save even more which is a boon to the small business owner.
Finally, the Blue for Business card has full expense management and can be easily integrated with Quicken.
Summary
Key Features
- No annual fee
- APR between 7.99% and 14.99% depending on your credit score.
- 25 day grace period if your previous statement was paid in full by the due date.
Other Features
- Multiple cardholders contribute to your pool of rewards points
- No expiry on accumulated rewards points
- No limit on the number of points that can be earned
- Discounts between 3% and 25% on purchases from certain suppliers through the OPEN Savings program
- Customized reports for expense management and integration with Quicken
- Travel insurance of up to $100,000
- Purchase protection that mirrors manufacturers warranty
- Online or telephone access to your account
Other Fees
- Late payment fees of $19 for balances under $400 and $38 on balances $400 or more
- Over limit fee of $38
- Cash advance fee of 3% (minimum $5)
The American Express Blue for Business credit card is an excellent credit card for the small business owner.
Other Resources
The Orange Savings Account. Great rates, no fees, no minimums.
Quicken Premier - Save 20% + Free Shipping
Related Articles
- Tips To Reduce Credit Card Debt Problems
- Having A Night On Out Cheap!
- Multiple Bank Accounts Help Manage Your Money
- Creating An Emergency Savings Account or Emergency Fund
- Signs of Financial Trouble
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