The Blue Business® Plus Credit Card from American Express interest rate is 13.99% - 21.99% (V), with the actual rate depending on factors such as your income, credit history and existing debt. The American Express Blue Business Plus card also offers new cardholders an introductory interest rate of 0% for 12 months on purchases. After the card’s intro rate expires, the regular interest rate applies to any remaining balance. The regular American Express Blue Business Plus card interest rate is variable, meaning it can change based on certain economic conditions.
American Express Blue Business Plus gives you a 25-day grace period to avoid paying interest on your purchases. The grace period runs from the end of the billing period until the card’s payment due date. You won’t owe any interest as long as you pay your balance in full during that timeframe. Should you decide to carry a balance on your American Express Blue Business Plus card, it will accumulate interest daily at the card’s regular APR. Interest is compounded, meaning you will owe interest on both the principal balance and any interest already accumulated.
In addition to the regular interest rate, American Express Blue Business Plus also charges a penalty rate for late payments. All American Express Blue Business Plus card interest rates will be listed on your statement and on your online account summary.
The Blue Business® Plus Credit Card from American Express
You need a credit score of 700 for an American Express business card. That means you must have at least good credit for decent approval odds. American Express does not offer business cards for bad, fair, limited or no credit. Nor do they have any secured business cards to help rebuild credit.… read full answer
It’s important to note that an applicant’s credit score is not the only factor that Amex considers. Things such as payment history, income and current debts are also important. But the higher your score, the better your chances of approval become. Keep in mind that Amex will look at your personal credit during the approval process because you will have to provide a personal guarantee to pay Amex back if the business cannot. This is normal for business credit cards.
The difference between a regular credit card and a charge card is that while a credit card allows you to carry a balance between months, with a charge card you must pay what you owe in full by the end of each month.… read full answer
It’s important to note that charge cards are actually a type of credit card – they are just unique ones. Charge cards also usually have no preset spending limits, which means that the cardholder’s credit limit will vary based on their financial status and spending habits.
American Express approval odds are best for people with good or excellent credit scores (700+), enough annual income to demonstrate the ability to pay the card’s annual fee (if there is one) and the entire balance in full, when applicable. Minimal debt and steady employment are also important.
More info about the American Express approval odds
Your credit score will prove very important to your chances of getting approved, given that all American Express cards require good or excellent credit for approval. A credit score of 700+ is a good start, though some American Express cards require a 750+ credit score for high approval odds. Total annual income, employment status, and outstanding debts could also have a big influence on the outcome of your application.
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