AmEx Launches New Commercial Cards for Business Growth
AmEx launched the Graphite Business card today to target mid-market firms. The company also plans to release a corporate cashback card and new expense software.
American Express Company has introduced a new commercial credit card and announced plans for a second offering later this year, aiming to solidify its presence among small- and middle-market businesses. These corporate clients typically exhibit high spending volumes, making them a primary target for financial service providers looking to expand their market share.
The newly launched Graphite Business card features an annual fee of $295 and offers 2% cashback on eligible purchases. It also provides 5% cashback on flights and prepaid hotel bookings made through the company's travel platform. A subsequent corporate cashback card is slated for release this fall, with specific fee details expected closer to the launch date.
