Top 5 Business Credit Cards for Amazon in 2023
Being the largest and the most popular marketplace ever, Amazon creates opportunities for personal and business purchases. Its in-bulk options and frequent discounts are great for replenishing your small business stock. However, if you want to optimize your shopping even more, you will be glad to discover that there are several best business credit cards for Amazon purchases. But which one will suit your company's needs best? In this article, we will make an Amazon credit card comparison so that you can find the best fit.
5 Considerations for Choosing a Business Card for Amazon
Before you opt for the best business Amazon credit card payment for a small business, let's discover the important factors you should consider before making a choice.
Before applying for business credit cards from Amazon, it is necessary to make sure you meet eligibility requirements, which can be pretty different depending on the card type. Generally, you must have a registered business with a tax ID number or employer identification number (EIN). Some issuers may also require a minimum credit score or annual revenue to qualify for a business card.
Rewards and cash back
By choosing a business or personal credit card with strong rewards or cash back, you can maximize your savings and earn valuable benefits on your Amazon purchases. However, consider these benefits carefully, as they are diverse. For example, the Amazon Business Prime American Express Card offers up to 5% cash back on the first $120,000 spent each calendar year. Some other cards provide cash back on spending on gas stations, Internet and phone services, traveling, and so on.
Annual fees and interest rates
One of the tricks with choosing the best Amazon credit card payment for business is that some cards may have high annual fees, which can offset the value of rewards or cash back earned on purchases. For example, the Amazon Business Prime American Express Card has a $119 annual fee, while the Amazon Business American Express Card has no annual fee at all. And you should also have Amazon Prime in the first case.
Currency conversion specifics
If you plan to use your business credit card for purchases in different currencies, you should also research the rates and fees in advance. Amazon business cards typically use the exchange rate on the day of the transaction to convert foreign currency purchases into US dollars. Some cards may charge from 1% to 3% of the purchase amount for cross-border transactions.
The spending or credit limit is yet another important factor you shouldn’t overlook. These are the amounts you can spend per year in total, and also the amounts for one-time purchases on Amazon. So, when considering this factor, be guided by the highest value of both parameters so as not to reach this limit halfway through the year or when you need to send large sums at once.
The Capital One Spark Cash for Business offers purchase return protection, extended warranty, and travel accident insurance. The American Express Business Platinum Card offers travel rewards, airport lounge access, and concierge services. Evaluate these benefits and decide whether you need them for personal use but keep in mind that annual fees for using such benefits-rich cards are usually higher.
5 Best Business Credit Cards for Amazon
All Amazon credit cards offer a variable Annual Percentage Rate (APR) based on the Prime Rate, which is currently 19.24% to 27.24% APR. As for the credit limit, it will depend on your credit history and cannot be less than $500. But there are a lot of other details to consider. Let's find out which Amazon credit card is the best for small businesses based on the comparison of the five most popular options.
Amazon Business Prime American Express Card
As you can guess from the name, this is an Amazon Prime credit card for business. You must have Amazon Prime to use it, which costs $119 per year. As for the benefits of using this card, you can earn 5% cash back or 90 days to pay interest-free on US purchases at Amazon Business, Amazon Web Services, Amazon.com, and Whole Foods Market.
Amazon Business American Express Card
You may wonder — does Amazon have business credit cards for those just getting started in retail? Fortunately, it does, and Amazon Business American Express Card is a nice option for this goal. It doesn't require you to have a Prime subscription and has no annual service fee. Just like the previous option, it has no pre-set spending limit.
However, the terms and conditions of provided benefits are more limited. For example, you can get only 3% cash back, and the interest-free period is shortened to 60 days instead of 90. The annual percentage rate, in turn, is the same as with Amazon Business Prime American Express Card.
Amazon Premium Rewards Visa Signature Card
Both cards we have reviewed above also require you to have your small business opened and registered. But what if you just want to give this idea a try without investing much and committing to serious obligations? In that case, you can consider an Amazon Rewards Visa card.
The Amazon Prime Rewards Visa Signature Card is designed for individual consumers who are Amazon Prime members and make purchases on Amazon and at Whole Foods Market. It also comes with 5% cash back, but there are no other benefits like interest-free payments. While you don’t need to pay an annual fee, you should still have an Amazon Prime membership.
Amazon Rewards Visa Signature Card
The only thing that differentiates this card from the previous one is its cash-back limit. With a usual Amazon Rewards card, you can get only 3% cashback on Amazon and Whole Foods Market. Also, you don't have to subscribe to Premium to use this card. These requirements make Amazon Rewards Visa Signature Card the most affordable and risk-free credit card for Amazon shopping.
However, it's worth noting that the card is not specifically designed for small businesses and does not offer the same spend visibility and tracking tools as the Amazon Business Prime American Express Card or the Amazon Business American Express Card. The card provides no additional benefits for small businesses, such as discounts or special financing options.
The Blue Business® Plus Credit Card from American Express
Which is the best Amazon credit card for business payments if none of the above seems to be a perfect match for you? Probably, The Blue Business® can become the right option. The benefits it comes with are significant. There are no annual fees and a 0% introductory APR on purchases and balance transfers for the first 12 months, followed by a variable APR based on the Prime Rate. You’ll have no pre-set spending limit, which will be determined by your credit score.
You can get double points on the first $50,000 in purchases each year. There are also purchase protection and travel benefits, and it offers tools for expense management and the ability to add employee cards with spending limits and alerts, which make it the best credit card for Amazon seller accounts. However, to get this card, you should have a valid Tax Identification Number (TIN) and a US business address only.
Choosing the best Amazon business credit account in 2023 is an important decision that depends on your business size, specifics, and reliance on Amazon. Businesses that are getting started look for the most affordable option with the highest spending limits, while more mature sellers seek cards with advanced options. Those Amazon business cards we have discussed in this article can be suitable for both cases, so pick the one that fits your needs and make your Amazon business run!
Can I use multiple credit cards for Amazon payments?
You can have several business cards and use them at your convenience, for example, pay for your business order with Card X this week and use Card Y the next time. However, you can't split a one-time payment between two or more cards.
How can I track my Amazon credit card rewards?
To track your Amazon credit card rewards, you can log in to your account on the cardmember page on Chase.com. You'll need to log in and choose See Account Activity. Here you will be able to track your rewards and also redeem them
How late can I pay my Amazon credit card?
According to Amazon, the payment due date for their credit cards is at least 23 days after the close of each billing cycle. This is the minimum grace period required by law, and it can vary between 21 and 25 days, depending on the card.