New American Express Graphite™ Business Cash Unlimited Card
American Express just launched a NEW business credit card called the Graphite™ Business Cash Unlimited Card.
The card earns unlimited 2% cash back on purchases, 5% cash back on flights and prepaid hotels booked through Amex Travel, and has a $295 annual fee.
There is also a $1,500 sign up bonus after spending $50,000 in purchases within the first 6 months of opening.
Sure the card design is unique, but the Amex Graphite™ is a bit overpriced and likely not worth keeping after year one (for most people).
Let’s assume a business owner spends exactly $50,000 on this card to earn the $1,500 sign up bonus.
At 2% back on every purchase, they would also earn $1,000.
Add those two numbers together ($2,500) and subtract out the $295 annual fee for $2,205 in first year value.
$2,205 / $50,000 = 4.41% Return On Spend
That's a very low return on spend compared to what most welcome bonuses offer - so to us, this card is only good if you're looking for 2 things:
Using American Express as your business credit card issuer
An easy "set and forget" 2% back on everything with lots of business spend
But honestly, there are better alternatives out there for earning 2% cash back on everything with a slightly lower annual fee…
The Chase Ink Business Premier® Credit Card earns 2% cash back on all purchases and 2.5% cash back on purchases over $5,000 for a $195 annual fee.
And the Capital One Spark 2% Cash card earns 2% cash back on all purchases for a $95 annual fee ($0 in your first year with it).
Or, if you're willing to keep track of categories to optimize your business spending, then there's plenty of other business credit cards that allow you to earn more than 2% back on certain things.
So check out this new American Express card for the welcome offer if you have a large amount of business spend coming up, but we'd recommend passing on it for now.
