How much can you earn in Amazon Rewards with their new Amex SME Credit Cards?

This article is sponsored by Amazon

Amazon and American Express have just launched two new products aimed at the small business market.

Business credit cards which offer rewards are thin on the ground. These two new Amazon Cards give you the opportunity to earn a generous amount of Amazon credit in the form of Amazon Rewards.

Alternatively, you can choose to defer payment on your UK purchases at Amazon.co.uk, Amazon Business and Whole Foods Market for up to 90 days interest free.

The two cards are the Amazon Business Prime American Express Card and the Amazon Business American Express Card.

You can find full details of both Amazon Business American Express Cards in this Head for Points article.

I need to remind you that both cards have a representative 32.6% APR variable based on a notional £1,200 credit limit and £50 annual fee.  The interest rate on purchases is 21.9% APR variable.

The first year’s £50 annual fee on the Amazon Business Prime American Express Card is waived for all Cardmembers who are Amazon Business Prime members, and for anyone who spends over £8,000 in their subsequent Card year.

To learn more about the Cards and to apply, click here.

What rewards do I earn on the Amazon Business Credit Cards?

The sign-up bonus:

Both Cards come with a sign-up bonus.

For the Amazon Business Prime American Express Card, if eligible, Amazon Business customers will be offered Business Prime (worth £80 + VAT). If they already have Business Prime and are eligible they will be offered a £50 Gift Card. There is no minimum spend required to trigger the Gift Card.

The second card, the Amazon Business American Express Card, comes with a £25 Amazon.co.uk Gift Card.

You receive your gift card as soon as you are accepted. There is no minimum spend target to hit.

Rewards for on-going spend:

These vary by Card and by where you spend.

On the Amazon Business Prime Card, you can choose between two rewards options on your Amazon spending:

• 2% in Amazon rewards on UK purchases at Amazon.co.uk, Amazon Business and Whole Foods Market, or

• 90 days to pay on each purchase at Amazon.co.uk, Amazon Business UK and Whole Foods Market UK

Everyone will receive:

• 0.5% in Amazon Rewards on all other spending

On the Amazon Business American Express Card, the rewards received at Amazon are reduced to 1.5% and the ‘free credit’ period alternative is reduced to 60 days. You still receive 0.5% back on your other spending.

How much could I receive?

Let’s run some numbers:

Spend £20,000 on the Card of which £5,000 is at Amazon:

• You would receive (£5,000 x 2% + £15,000 x 0.5%) £175 of Amazon Rewards on the Business Prime Card, plus trigger the £50 annual fee refund for the next year.

• You would receive (£5,000 x 1.5% + £15,000 x 0.5%) £150 of Amazon Rewards on the Business card.

Spend £50,000 on the Card of which £20,000 is at Amazon:

• You would receive (£20,000 x 2% + £30,000 x 0.5%) £550 of Amazon Rewards on the Business Prime Card, plus trigger the £50 annual fee refund.

• You would receive (£20,000 x 1.5% + £30,000 x 0.5%) £450 of Amazon Rewards on the Business Card.

Spend £50,000 on the Card of which nothing is at Amazon:

• You would receive (£50,000 x 0.5%) £250 of Amazon Rewards on the Business Prime Card, plus trigger the £50 annual fee refund.

• You would receive (£50,000 x 0.5%) £250 of Amazon Rewards on the Business Card.

Spend £100,000 on the Card of which £25,000 is at Amazon:

• You would receive (£25,000 x 2% + £75,000 x 0.5%) £875 of Amazon Rewards on the Business Prime Card, plus trigger the £50 annual fee refund.

• You would receive (£25,000 x 1.5% + £75,000 x 0.5%) £750 of Amazon Rewards on the Business Card.

How can I spend Amazon Rewards Points?

As you’d expect, you can use your Amazon Rewards Points to offset your purchases on the Amazon.co.uk website and Amazon Business UK.

Interestingly, you can ALSO use them to pay off your American Express statement. This means that, even if your business does not spend much at Amazon, the Card may still work for you. You can treat it as a straight 0.5% rewards card, using the credit to pay off your credit card bill.

Is there a cap on what I can earn?

The 1.5% or 2% of Amazon Rewards credit is capped at £120,000 of Amazon spending per calendar (not card) year. Beyond this, you will earn 1%.

There is no cap on what you can earn from spending outside Amazon.

Conclusion

As you can see, these cards have the potential to be very rewarding for many small businesses which have a large amount of Amazon and/or American Express spending.

Remember that the £50 annual fee on the Amazon Business Prime card is waived for all Cardmembers who are Amazon Business Prime members (plans start at £80 + VAT) and if eligible, Amazon Business customers will be offered Business Prime (worth £80 + VAT). If they already have Business Prime they will be offered a £50 Gift Card.

You can learn more and apply for the cards here.