American Express has launched AAmerican Express Graphite Business Cash Card with no limit. it’s slightly different than the rumored card with an annual fee of $295.
Card details
- $1,500 sign-up bonus after spending $50,000 on purchases within the first six months
- $295 annual fee, not waived the first year
- The card earns 2% cash back on all purchases and 5% back on prepaid flights and hotels booked through American Express Travel Online
Our verdict
I’m not sure I understand the use case for this card other than the signup bonus. of Chase Ink Premier it’s objectively better to earn 2% on all purchases with an annual fee of $195 and 2.5% back on purchases over $5,000. Capital One Spark Cash is 2% on all purchases and a $95 annual fee.
That being said the signup bonus is interesting, if you spend exactly $50,000 you will earn $1,500 from the signup bonus and then another $1,000 from the spend itself for $2,500 (minus the $295 annual fee).
Again, I don’t see any use cases where keeping this card beyond the first year makes any sense. I suspect it’s aimed at businesses with a large amount of credit card spending who just want to set and forget these purchases, but still earn at a high rate and have some cash flow flexibility.
Will add our bonus best credit card bonuses. More rumored and expected cards can be found here.
