American Express is reigniting their small business credit card with an update on the Marriott Bonvoy Business card.
For small business owners, a credit card can be a valuable tool. Not only does it provide a line of credit that can be used for unexpected expenses, but it can also help to build a strong credit history. However, not all credit cards are created equal. When choosing a small business credit card, it’s important to look for one with features that will meet your needs. For example, some cards offer rewards programs that can earn you cash back or points that can be redeemed for travel or merchandise. Others come with special financing options that can help you manage your cash flow. And some cards even offer extended warranties on purchases or purchase protection against theft or damage.
American Express continues to have a strong play in the small business space. As we await their 2Q update on July 22, we note that Q1 small business receivables at American Express account for 34% of their cardmember receivables mix, substantially higher than international consumer (14%), U.S. Consumer (25%), and Corporate Card (25%).
American Express has a wide range of co-brand partners, as we illustrated in a recent Mercator report, and has kept them current as the market changed with COVID’s shift in payment habits and consumer desire to stay back home.
Their timing is right with their announcement to enhance the Small Business Marriott Bonvoy card. New features include:
- 7% Marriott Bonvoy® Room Rate Discount off standard rates for reservations of standard guest rooms at hotels participating in Marriott Bonvoy3 when booked directly. Terms apply
- 4X Marriott Bonvoy points at restaurants worldwide
- Complimentary Gold Elite status
- Continue to Enjoy Existing Card Benefits
According to the press release: eligible new Card Members who apply and are approved for the Marriott Bonvoy Business American Express Card can earn 125,000 Marriott Bonvoy points after they spend $5,000 in eligible purchases on the Card in the first three months. The offer is available through August 31, 2022.
As we all get back into the business travel mode again, the card will likely keep American Express’ small business effort at the forefront of business travel.
Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group