Amazon Business Prime American Express Card review
- Representative example:
- When you spend £1,200 at a purchase rate of 28.3% (variable) p.a. with a fee of Year 1 - £0, Year 2 onwards - £50 per annum, your representative rate is 39.7% APR (variable).
- Earn rate at Amazon
- 2 points per £1 spent
- Earn rate (elsewhere)
- 1 point per £2 spent
- Welcome giftcard
- £100
Our verdict
Amazon's premium business card, the Amazon Business Prime credit card lets you get the most out of your Amazon business purchases.
Like the basic Amazon Business card, the Amazon Business Prime cards offer a choice of Amazon reward points (2%) or 90 day terms on UK purchases with Amazon.co.uk, Amazon Business and Whole Foods Markets.
However, the reward point bonus only applies on the first £120,000 you spend each calendar year, and reverts to 1% on any further purchases.
You can also earn back 0.5% on any other purchases, and points can be redeemed towards future Amazon purchases, or taken off your monthly card statement.
If you're not an existing member, you'll also receive a free year of Amazon Business Prime when you sign up. Existing Business Prime members will get a £100 Amazon gift card when they sign up.
The card normally has a £50 annual fee, but this is waived as part of your Amazon Business Prime membership.
Pros
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You can extend payment terms by 90 days on each Amazon purchase, instead of earning rewards
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Flexible reward options
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Competitive purchase rate
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Earn reward points on all your purchases
Cons
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Annual fee of £50. No annual fee for your first year or if you spend £8,000 or more on the Card each year.
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Representative APR is relatively high compared to other business credit cards
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Cap on high reward point bonus rate
Details
Product overview
| Issuer | American Express |
| Network | Amex |
| Representative APR | 39.7% |
| Annual/monthly fees | £50. No annual fee for your first year or if you spend £8,000 or more on the Card each year. |
| Balance transfers | 28.3% |
| Balance transfer fee | 3% |
| Purchases | 28.3% |
| Purchases interest-free period | Up to 56 days |
| Money transfers | 28.3% |
| Cash advances | 33.7% |
| Minimum credit limit | £1,500 |
| Maximum credit limit | Subject to status |
| Additional cards available | 20 |
| Introductory Rewards | Get a £50 Amazon.co.uk Gift Card upon approval & an additional £50 statement credit when £1K spent. |
| Incentive | Earn 2% Amazon Rewards for every £1 spent on selected Amazon purchases and 0.5% Amazon Rewards for every £1 spent on all purchases elsewhere. |
| Additional Rewards Info | Access to tickets for must-see music, theatre and film events, often before they go on sale to the general public with American Express Experiences. |
| Potential costs | 5.8Standard |
| Doing its job | 7.5Great |
| Extras | 10Excellent |
| Overall Finder Score | 6.8Standard |
Fees and charges
| Minimum monthly payment | 2% or £25 (whichever is greater) or the total of any interest, default fees and charges, 1/12th of annual fee plus 2% of the outstanding balance. |
| Annual/monthly fees | £50. No annual fee for your first year or if you spend £8,000 or more on the Card each year. |
| Balance transfer fee | 3% |
| Foreign usage charge (EU) | 2.99% |
| Foreign usage charge (rest of world) | 2.99% |
| Cash advance fee | 3% (min. £3) |
| Late payment fee | £12 |
| Replacement card fee | £0 |
| Duplicate statement fee | £2 |
| Exceeding limit fee | £0 |
| Additional card fee | £0 |
| Dormancy fee | £0 |
Application requirements
| Minimum Age | 18 |
| Residency | UK resident |
How does this card compare with other similar cards on the market?
Amazon’s card
The competition
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow. Most of the data in Finder's comparison tables is provided by Moneyfacts.
Repayment options
You can make manual repayments through American Express's app by logging in to your online banking or over the phone (0800 917 8043). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
| Minimum amount | |
|---|---|
| Fixed amount | |
| Fixed percentage | |
| Full amount |
How to apply for the Amazon Business Prime American Express Card
To apply for an Amazon Business credit card, you’ll need to complete the following steps:
- Sign in to your Amazon account online
- Complete the application form, including your business and personal details
- Review and submit your application
- Wait for approval
You’ll also need to have an Amazon Business account to be approved for the card. If you don’t have an existing account, you’ll need to register for one as part of your application.
Customer support
To contact customer support for the Amazon Business Prime American Express® Card, you can call 0800 731 0146.
The bottom line
Overall, the Amazon Business Prime credit card should prove a popular option for regular Amazon business customers looking to get the most out of their spending. With the option of generous Amazon Rewards or extended terms on Amazon purchases, it also offers a lot of flexibility in how you use your card, a definite bonus for businesses looking to better manage their spend and cash flow.
Frequently asked questions
What credit limit will I get with the Amazon Business Prime American Express Card?
If American Express offers you this deal, it will specify a tailored credit limit based on American Express's assessment of your situation and your business. The minimum limit offered on this card is £1,500, and American Express does not specify a maximum. Once you've had the card for a while and shown American Express you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the Amazon Business Prime American Express Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the Amazon Business Prime American Express Card is 3% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.50.
The interest rate on this part of your balance will be 33.7% (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
How much does it cost to use the Amazon Business Prime American Express Card abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£164.83), it'll cost you around £4.93 in fees.
Can I get additional Amazon Business Prime American Express Cards for my team?
Yes, you can request up to 20 more. There's no fee for additional cards. Plus, with additional cards, you could earn rewards at a faster rate.
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