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The American Express Freedompass Credit Card From Open The Small Business
Team
By: Jeff Weber
The new American Express FreedomPass credit card from OPEN, the small business
team, is a business credit card that provides users with high yield rewards.
With only 7500 points, you earn a $100 American Express travel reward
certificate for purchases on your Card Account at airlines, hotels, car rental
companies, cruise lines, travel agencies, tour operators and on-line travel
sites. For most small businesses, obtaining a few thousand dollars in travel
rewards every year would be in reach with this credit card.
For example, if your business spends $10,000 a month with the American Express
FreedomPass, expect to cash in $1600 in travel rewards. That’s equivalent to
earning 1.33 points with every purchase you make. Plus, as an added bonus,
American Express will also get you started with 5,000 free FreedomPass Miles
after you use the card to make your first purchase. Spend $2500 with your card
and you’ve already earned a $100 American Express travel reward.
Now, there are some issues of fine print to examine. Let’s say you spend $167.88
on a hotel room. Because American Express FreedomPass points are redeemed in
increments of 7500, you would need to use 15000 FreedomPass points to pay the
bill in full, or use 7500 points to cover the first $100 and pay off the
remaining $67.88 in cash. While a rewards point redemption situation such as
this may not be ideal, your business reaps more benefits by mixing its
FreedomPass miles with Amex spending than it does by wasting $32.12 in future
rewards.
Another unique feature of this business rewards credit card is its annual fee.
Or rather, its lack thereof. While most American Express business credit cards,
especially travel rewards cards, charge an annual fee, the FreedomPass credit
card from OPEN charges no annual fee. However, one must also take in mind that
this isyou’re your traditional American Express business card. It is a credit
card, with an interest rate: at least after the first six months. Yes, the
FreedomPass credit card offers a 0% introductory rate for 6 months. After that,
however, you will be charged interest if you do not pay for your purchases in
full within the 25 day grace period. To avoid paying interest, simply pay for
your purchases before the 25 day grace period expires.
American Express offers a wide range of business charge cards and credit cards,
each with a unique rewards program. The American Express FreedomPass credit card
from OPEN is unique in that it charges no annual fee, offers a 0% interest rate
for 6 months, and provides card members the opportunity to earn 33% more in
American Express rewards with every purchase.
About the Author:
Jeff Weber is President & CEO of Credit Card Depot Inc. His primary website,
www.credit-card-depot.com, has covered the credit card market for over
two years, providing consumers with detailed credit card information and links
to online credit card applications. Over 40,000 individuals visit Credit Card
Depot each month.
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