It is pretty common for credit card companies to regularly update their products in order to remain competitive in the marketplace. The scope of these changes range from merely enhancing the appearance of the card to improving the overall benefits and rewards that cardholders are offered.
Last May, the company upgraded its Blue Business Plus credit card; the new card offers a number of different perks and benefits for new and existing customers. For instance, one of the biggest new benefits allows customers to convert Membership Points into airline miles. It also now awards cardholders twice as many Membership Reward points for the first $50,000 spent each year.
The Blue Business Plus credit card offers zero percent APR for the first 15 months with the card on regular purchases and balance transfers. Since this card is considered a new product, customers have to contact American Express in order to get their hands on the new card and offer.
The American Express Business Platinum card has also been updated; now cardholders will receive an additional 50 percent in bonus points for business purchases that exceed $5,000. On top of that, American Express is now offering an additional 75,000 Membership Points as a sign-up bonus. From there, cardholders who spend $10,000 within the first three months of opening the account will receive an additional 50,000 Membership Points.
Cardholders can use the Business Platinum card to redeem these points at a 35 percent higher value toward airline reservations. This card is not considered a new product, so current cardholders don’t have to do anything to take advantage of these perks.
What does this mean for the average joe?
Consumers who are looking to open a credit card have a huge number of options to choose from. The credit card industry is highly competitive, and as a result, credit card rewards are constantly changing and updating. With such a flexible market, the average consumer has a good chance of finding a card that fits their purchase needs and lifestyle.
However, consumers should still do their research when looking at different credit cards. The benefits offered in different rewards programs can vary dramatically, and some companies offering a very small percentage of cash back rewards. And many rewards programs are accompanied by higher interest rates, so cardholders should be prepared to pay their balances in full every month in order to come out ahead.
Author: Andrew Rombach
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