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The new American Express FreedomPass credit card from OPEN, the small business team, is a business credit card that provides users with high yield rewards. With only 7500 points, you earn a $100 American Express travel reward certificate for purchases on your Card Account at airlines, hotels, car rental companies, cruise lines, travel agencies, tour operators and on-line travel sites. For most small businesses, obtaining a few thousand dollars in travel rewards every year would be in reach with this credit card.
For example, if your business spends $10,000 a month with the American Express FreedomPass, expect to cash in $1600 in travel rewards. That’s equivalent to earning 1.33 points with every purchase you make. Plus, as an added bonus, American Express will also get you started with 5,000 free FreedomPass Miles after you use the card to make your first purchase. Spend $2500 with your card and you’ve already earned a $100 American Express travel reward.
Now, there are some issues of fine print to examine. Let’s say you spend $167.88 on a hotel room. Because American Express FreedomPass points are redeemed in increments of 7500, you would need to use 15000 FreedomPass points to pay the bill in full, or use 7500 points to cover the first $100 and pay off the remaining $67.88 in cash. While a rewards point redemption situation such as this may not be ideal, your business reaps more benefits by mixing its FreedomPass miles with Amex spending than it does by wasting $32.12 in future rewards.
Another unique feature of this business rewards credit card is its annual fee. Or rather, its lack thereof. While most American Express business credit cards, especially travel rewards cards, charge an annual fee, the FreedomPass credit card from OPEN charges no annual fee. However, one must also take in mind that this isyou’re your traditional American Express business card. It is a credit card, with an interest rate: at least after the first six months. Yes, the FreedomPass credit card offers a 0% introductory rate for 6 months. After that, however, you will be charged interest if you do not pay for your purchases in full within the 25 day grace period. To avoid paying interest, simply pay for your purchases before the 25 day grace period expires.
American Express offers a wide range of business charge cards and credit cards, each with a unique rewards program. The American Express FreedomPass credit card from OPEN is unique in that it charges no annual fee, offers a 0% interest rate for 6 months, and provides card members the opportunity to earn 33% more in American Express rewards with every purchase.
About the Author:
Jeff Weber is President & CEO of Credit Card Depot Inc. His primary website, http://www.credit-card-depot.com, has covered the credit card market for over two years, providing consumers with detailed credit card information and links to online credit card applications. Over 40,000 individuals visit Credit Card Depot each month.
Source: www.isnare.com
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