The American Express Business Accelerator card is all about rewarding the business owner with unlimited points that can be redeemed for over a thousand options – including VIP air travel. With the Accelerator’s business-friendly approach to accounting and management, it is much easier to run a business in Australia.

Benefit of the Card’s Best Features?

With an American Express Business Accelerator card, you are automatically enrolled in a great rewards program. For every $1 spent on your card account, you will receive 2 Membership Rewards points. After you accumulate 300,000 points, then you will earn 1 point for $1 (so the earn rate is tiered). You can earn unlimited points and they will never expire so long as your account stays active.

The Business Accelerator card gives you over 1,500 options for redeeming your points. They can be used for tech supplies, bottles of fine wine, sporting goods, and online shopping. Points can also be redeemed for frequent flyer miles with multiple participating airlines (including Velocity). As a cardholder, you will get VIP treatment and be exempt from blackout dates! If you don’t want to use points for rewards, you can even use them to pay off your balance. So, the Amex Business Accelerator is essentially giving you cash back rewards – who can say no to that when cash flow is any business’ top priority!

One of the most useful features for a business is that you can have unlimited free additional cards for your employees and colleagues. These cards will also earn points for you. When making purchases, watch out for deals in the Business Savings Programs, which can give you discounts for your business.

This card is all about making life easier for the business owner. American Express will give you tools for managing your accounts including GST itemisation. You can directly download transaction information into the major accounting programs including Excel, Quicken and MYOB. When you get your statement at the end of the month, it will have the GST report you need for meeting ATO requirements. Even the $160 p.a. annual fee of this card is tax deductible if you use it only for business purposes.

Business owners get the best customer service from American Express. You can call their support team 24/7 for help and they even offer a 90 day satisfaction guarantee. If you aren’t happy with the American Express Business Accelerator, just cancel within 90 days and the annual fee will be refunded.

Are There Any Drawbacks?

With so many rewards on offer, it is no wonder that the Business Accelerator card has a purchase rate of 20.74% p.a. You do get up to 55 interest free days to pay this off though, so long as your bill is paid in full. It is worth noting that the minimum repayment amount of this card is higher than average at 3%. Make sure you can always pay the minimum back or you will be hit with late fees of $30. There is also a steep fee of $30 for going over your limit.

As with all credit cards, make sure you carefully read the fine print before signing up. There are some exceptions for redeeming points and also protecting yourself against fraud.

Who is it Suited for?

The Amex Business Accelerator card is best suited for the small business owner who wants to take advantage of great rewards while making account management much easier.

Who is Eligible?

To be eligible you must be at least 18 years old, have a good credit history with no defaulted payments. You’ll also need to be a citizen or permanent resident of Australia with a personal income of at least $24,000. The card must be used for business purposes and the business must be running for at least 1 year.