Credit card providers can throw in all the rewards and perks they can think of to tempt potential new cardholders, but if they don’t provide top class service they will lose more customers than they gain. This is especially true of a business credit card, because people who run their own enterprise know what customer service should look like: they won’t stick around if their own exacting standards aren’t met.
Fortunately, the American Express Business Accelerator Credit Card has a contact centre which is the winner of many awards from the Customer Service Institute of Australia, providing a great foundation for this business-oriented card with a high rewards earning rate and other useful features.
Designed with business in mind
This is very clearly a business credit card rather than a personal one. Your monthly or quarterly BAS and your annual tax return will be relatively painless as a result of the card’s itemised monthly statement of purchases, categorised into expense types with GST separately listed. Transactions can even be downloaded into Quicken, MYOB or Microsoft Excel for greater flexibility, and the American Express mobile app lets you manage your account from your phone.
As well as being chip, PIN and contactless payment enabled, the card is also ready for use with Apple Pay, for extra-secure contactless payments with Touch ID.
The award-winning customer service is available 24/7 wherever you are in the world, since successful business is often conducted on the move. Use your desktop computer, laptop or mobile phone to stay on top of the numbers and your repayments.
You can rely on an online fraud protection guarantee and global emergency card replacement to make sure that your turnover is not stalled by an interruption to your access to credit.
Business deserves rewards too
Loyalty rewards points are now a widespread feature of personal credit cards, but they are not so common in the world of business credit cards. So it’s particularly satisfying to find a business card which delivers points at such a fast rate.
There’s a good reason for the name ‘Business Accelerator’. At a standard rate of 2 pts per $1 spent, you’ll earn points at a speed equivalent to that of cards with a much higher annual fee.
There are two minor drawbacks. Firstly, the earning rate declines to 0.5 points per dollar for spending on utilities, on non-Amex insurance policies, and payments to government bodies like Australia Post and the ATO. Secondly, the two points per dollar drops to one point, once a yearly cap of 100,000 is reached. This means that if you used the card for $5,000 of business expenses per month you would probably reach the cap after ten months and be required to tolerate a more typical earning rate of one point per dollar for the remaining two months.
Ways to use your points
The rewards program does not have a conventional merchandise catalogue of the kind which allows you to exchange points for electrical appliances, apparel, toys, etcetera. But there are still plenty of redemption options. You can:
Note that points do not expire, so you can accumulate them over the long term before redeeming them to get the best return rate.
Interest-free days and line of credit: cash flow management tools
The American Express Business Accelerator Credit Card can effectively be your business line of credit. The purchase interest rate of 20.74% p.a. makes it inappropriate as a long-term credit facility, but in combination with the interest-free days every month – Up to 55 days on purchases if you time your purchases to fall at the very beginning of the billing cycle – it becomes a very useful cash flow management and short-term credit tool. Brief financial ups and downs can be evened out without the need to continually contact your bank.
Moderate fee and free additional cards
The cards $160 p.a. annual fee is surprisingly reasonable given the accelerated points earning rate. Add to this the fact that additional cards on the account are issued free of charge, allowing you to extend your business purchasing power to trusted staff members, and it begins to look like a positive bargain.
Sadly, no introductory offers or complimentary insurance cover
The only thing missing from this business credit card package is complimentary travel insurance cover. Amex have no doubt weighed the cost of granting cover against the appeal of a lower than expected fee, and tipped the balance in favour of fee economy. Similar reasons possibly lie behind the absence of introductory interest-free periods on purchases and balance transfers, which are in any case more suited to personal credit cards.
But this card is all about business
Personal credit cards, however, are not really designed with business in mind. But the American Express Business Accelerator Credit Card is perfectly organised for business use, as emphasised by its features. Sole traders and small-to-medium business owners will welcome the wealth of tax-oriented detail in the monthly statements as well as the speed, convenience and security of contactless payments, Apple Pay and great customer service. The annual fee may be tax deductible if the card is used only for business expenditure. And the high points earning rate in a flexible rewards scheme, for a very reasonable annual fee, should seal the deal.
This card is worthwhile getting as it’s fantastic. It’s a type of card that will be in demand as its features will attract lots of customers to buy items with this card. I can’t stop plugging this card enough, it’s such good value. So get yourself one — you’ll never forget the time you got this card.