American Express launches Graphite business card with 2% cash back

American Express (NYSE: AXP) introduced the American Express Graphite Business Cash Unlimited Card, offering unlimited 2% cash back on all eligible purchases and unlimited 5% cash back on flights and prepaid hotel bookings through American Express Travel.

The metal card features a carbon fiber-inspired design and carries an annual fee of $295. The card provides no preset spending limit, with spending capacity that adapts based on factors such as purchase, payment and credit history.

"No matter where or how they spend, business owners want to feel confident that their business spending is working for them, and we built the Graphite Card to make it easy to earn cash back on every business purchase," said Raymond Joabar, Group President, Global Commercial Services at American Express.

The card includes a Pay Over Time feature that allows cardholders to carry a balance with interest. Cash back is earned as Reward Dollars and can be redeemed as statement credits or at Amazon.com checkout at a 1:1 rate with no minimum redemption amount.

Additional features include employee cards available for $95 per year for the first five cards, virtual cards with adjustable spending limits, and up to $2,400 in statement credits for American Express' accounts payable automation platform One AP after spending $250,000 on eligible purchases in a calendar year.

The card integrates with American Express' small business solutions, including the American Express Business Checking Account and Business Line of Credit, subject to eligibility requirements.

According to American Express' Trendex Small Business Edition survey, 30% of small businesses prefer cash back rewards for the ability to use them however they want, while 26% prefer applying them directly to business expenses.

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