NEW YORK – American Express on Tuesday introduced a new small-business credit card, the Graphite Business Cash Unlimited Card, marking what the company called the start of its most significant year of commercial product expansion in recent history.
The card earns unlimited 2% cash back on all eligible purchases and 5% cash back on flights and prepaid hotel bookings made through American Express Travel. Cash back is issued as Reward Dollars, redeemable as a statement credit or toward purchases at Amazon checkout at a 1-to-1 rate with no minimum redemption amount. The annual fee is $295.
New cardholders can earn $1,500 in cash back after spending $50,000 within the first six months of account opening. The card carries no preset spending limit, meaning available credit adjusts based on the cardholder’s purchase and payment history. A pay-over-time option allows cardholders to carry a balance with interest.
“No matter where or how they spend, business owners want to feel confident that their business spending is working for them,” said Raymond Joabar, group president of global commercial services at American Express. “By combining unlimited 2% cash back with powerful spending capacity, the Graphite Card can help businesses fuel growth, improve cash flow management and strengthen their bottom line.”
The card includes virtual card functionality with adjustable spending limits, integration with American Express’s business checking and credit line products, and up to $2,400 in annual statement credits toward the company’s One AP accounts payable platform. Those credits are unlocked only after spending $250,000 on the card within a calendar year. Employee cards are available at $95 per year for the first five metal cards, with a no-fee plastic version also offered.
American Express described the Graphite card as the first in a series of eight new or enhanced products and capabilities the company plans to release this year. Others in the pipeline include a new corporate cash back card, expanded virtual card support within third-party expense platforms including SAP Concur and Emburse, and a $300 ChatGPT Business statement credit to be added to both the Business Platinum and Business Gold cards this spring.
The company said the ChatGPT credit would be the first AI-tool benefit offered as a standard perk by a major card issuer.
American Express said it is the largest issuer of small-business credit cards in the United States by spend, roughly three times larger than the next issuer. The company cited internal data showing that high-spending cardholders using its no-preset-limit products spend more than three times as much on their American Express cards as on cards from competing issuers.
The Graphite Business Cash Unlimited Card is available now. Terms and conditions apply.
