 How does a cash reward program work? Typically, the program awards points, "dollars" or a cash value based on the amount you charge. The rate at which you collect points varies depending on what you charge or where you charge it. Some programs offer extra points for using their card at a specific place such as a supermarket or fast food restaurant or for certain items.
Some programs offer a variety of rewards. Consumers can earn meals, tickets to sporting events, airline tickets, electronics, or even create their own reward program.
The goal is to get you the consumer to use your credit card as much as possible. Why? FEES! The credit card issuer makes money from two sources each time you use their card. First, from the merchant who pays the issuer a merchant transaction fee and secondly, from you through finance charges and late fees. A recent survey found that nearly half of U.S. cardholders enrolled in a credit card rewards program have never redeemed their points. However, 60% of consumers said rewards program influences their decision when deciding which credit card to use for a purchase.
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Earn 5% cash back on auto gas, office supplies and wireless services
Earn 1% on cash back on virtually all other purchases
Cash back is automatically credited to the statement each month
No fee with the flexibility to pay in full or carry a balance
0% introductory APR for UP TO 12 months
OPEN Savings®: Automatic discounts with FedEx, Delta®, Courtyard by Marriott®, and more
Additional Cards have no annual fee
Earn 5% cash back on auto gas, office supplies, and wireless services
Earn 1% cash back on virtually all other purchases with the
American Express SimplyCashSM Business Card
No fee with the flexibility to pay in full or carry a balance
Additional SimplyCashSM Business Card benefits:
- No limit to the cash back you can earn
- Cash back is automatically credited to the statement each month
- Fee-free employee Additional Cards — earn cash back on the business purchases they make
OPEN® the small business team at American Express is all about small business. It provides you the resources to help you run your business, including:
- Financing: Get unlimited fee-free Additional Cards, 0% APR on purchases for for UP TO 12 months, and pay no annual fee.
- OPEN Savings®: Ongoing savings with FedEx, Delta®, Hertz®, Hyatt Hotels and Resorts® and more just by using your Business Card. The savings will automatically appear on your statement, and the savings are in addition to other discounts your business may already receive††.
- Online management: Manage your account with Summary of Accounts and track charges with Expense Management Reports.
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