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The Graphite™ Business Cash Unlimited Card is a new option for high-spending business owners looking to earn strong cash-back rewards with a simple earning structure.
This new American Express business card fits neatly into the mid-tier space with a $295 annual fee (see rates and fees).
As with any American Express card, timing your application matters. Amex generally limits cardmembers to earning one bonus per card in a lifetime, so it’s important to apply when the offer is at its highest.
Before you pull the trigger on an application, let’s take a moment to examine the Graphite card’s current offer.
Amex Graphite card current offer
To help usher in the Amex Graphite Card, American Express is offering the following welcome bonus: earn $1,500 cash back in the form of Reward Dollars after spending $50,000 on purchases in the first six months of card membership. Reward Dollars can be redeemed as a statement credit and at amazon.com checkout.
That’s one of the highest spending requirements we’ve seen for any card, including small-business cards like this one. Amex isn’t a stranger to high spending requirements for its bonuses, but this one will be especially hard for many small businesses to hit.
If spending $50,000 in six months isn’t in the cards for you, consider one of Amex’s other cards instead. Many of them have much lower spending requirements, but you’ll still get a lot of value from their bonuses.
For example, new The American Express Blue Business Cash™ Card cardmembers can earn a $250 statement credit after spending $3,000 on purchases in the first three months of card membership.
Otherwise, $1,500 in cash back is a fair return for $50,000 in spending. It’s impossible to say what future offers will look like for this card, since this is its first.
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What perks will you get with the Amex Graphite card?
The Amex Graphite Card focuses on high-spending small businesses rather than brand-new startups or individuals with side hustles.
Cardmembers will earn 5% cash back on flights and hotels booked via American Express Travel® Online, and 2% cash back on all other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit and at amazon.com checkout.
As a cardmember, you’ll receive the following benefits:
- One AP statement credits: Up to $2,400 in annual statement credits to use in the next calendar year for Amex One AP monthly fees after spending $250,000 on purchases in a calendar year (subject to auto-renewal).
- One AP invoice management (enrollment required)
- American Express Business Blueprint: Amex’s free cash-flow management system that offers snapshots of your Amex and eligible, linked external accounts.
- Various travel protections
- Purchase protection* and extended warranty protection*
- Global Assist Hotline**
*Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.
**Eligibility and benefit level vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Cardmembers are responsible for the costs charged by third-party service providers.
Given that the Graphite card charges a $295 annual fee, it’s worth carefully considering how much value you anticipate getting out of these benefits. If you don’t run a high-spending business, this card may not be a great fit for you.
Bottom line
The Graphite Card is best suited for those committed to cash back and to American Express. If you’ve decided to apply for this card, make sure you have a plan to meet the $50,000 spending requirement for its welcome offer. You won’t want to miss out on that extra cash back.
If now isn’t the right time for you to get this card, keep an eye on this page. You’ll want to check back again before sending in an application, just to make sure you’re getting the best offer possible.
Apply here: Graphite Business Cash Unlimited Card
For rates and fees of the Amex Graphite card, click here.
