American Express Business Accelerator Credit Card – Rates and Fees

Information verified correct on December 8th, 2016

Save with up to 55 interest-free days, earn up to 2 Membership Rewards per $1 spent and keep track of business expenditure with the American Express Business Accelerator Credit Card.

The American Express Business Accelerator credit card could be a competitive option for organisations looking to save on interest while earning rewards for their business expenses. When you pay your balance in full, you can take advantage of up to 55 days of interest-free purchases. Cardholders are also automatically enrolled into the Membership Rewards Ascent Program, allowing you to earn up to 2 rewards points for every dollar spent on eligible purchases. With access to business expenditure tracking programs, additional cardholders for no extra cost and an Online Fraud Protection Guarantee, the American Express Business Accelerator credit card offers a number of benefits to applicants looking for a versatile business credit card.

Product NameAmerican Express Business Accelerator Credit Card
Rewards ProgramMembership Reward Ascent
Purchase rate (p.a.)20.74% p.a.
Annual fee$160 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Minimum Monthly Repayment2.5% or $30
Minimum Income$24,000
Card TypeAmerican Express
Late Payment Fee$30
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$24,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Annual Fee$160 p.a.
Minimum Repayment2.5% or $30
Late Payment Fee$30
Over Limit Fee$30
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • This card has a 'best business card or money back guarantee' - so American Express must be confident about their product.
  • This card offers a good rewards program with rate of accrual. You will earn double the standard rate of accrual up to $150,000 spent per year and points will not expire as long as your account remains active and are not capped for the year. Membership rewards can also be used to pay off the balance of the card.
  • The minimum income requirement of only $24,000 per year provides open access to this card and it's features.

Cons

  • There is no balance transfer feature available with this card.
Rewards ProgramMembership Reward Ascent
Rewards Points per $ (VISA/MC)0
Rewards Points per $ (AMEX)2
Rewards Points per $ (VISA/MC) CapN/A
Rewards Points per $ (AMEX) Cap100,000
Points ExpiryNever

American Express Business Accelerator Credit Card review

For an annual fee of $160, the American Express Business Accelerator credit card offers a number of benefits and features to cardholders. If you repay your balance in full by the end of the statement period, you could save on interest on future purchases with up to 55 days. Plus, enrollment into the Membership Rewards Ascent program means you can earn up to 2 Membership Rewards on all eligible purchases. These rewards can be redeemed for flights with up to 9 airline partners, transferred to points with two leading frequent flyer programs, used to shop online at David Jones or traded for a variety of gift cards. Offering supplementary cards at no additional cost, account holders can earn points quickly while also managing employee expenditure.

Benefits of the American Express Business Accelerator Credit Card

  • Earn 2 rewards points for every $1 spent. You can earn 2 points with the Membership Rewards Ascent program for each dollar spent on purchases. Likewise, you gain 0.5 point per dollar with purchases on insurance products that are not offered by AMEX, and other Australian government bodies and utilities as well. You can accumulate as many rewards points as you wish as they do not expire. When you reach the 100,000 cap on rewards points, your earnings reduce by 50% to 1 point for every dollar spent. The categories above remain unaffected and you will continue to gain 0.5 point per $1.
  • Earn more rewards points with supplementary cards. If you have supplementary cards that are linked to your account, you get to earn more points and at a faster rate as your points are all awarded to the one rewards account. Supplementary cards are also an effective way to monitor and manage employee expenditure.
  • Transfer points to two frequent flyers partner programs and 9 airline partners. You can transfer your rewards points to any of the airline rewards partners listed with the credit card or the two leading partner programs. Airline partners include:
  • 24-hour access to your account. You can access your account using your internet-enabled phone, a computer, or laptop any time or day.
  • Keep track of your credit card expenditure. You can easily manage your expenditure using this credit card by downloading your transaction details and statements. This can be done using Microsoft Excel, MYOB, and Quicken.
  • Online fraud protection guarantee. The American Express Business Accelerator credit card protects you against losses arising from unauthorised online transactions using your credit card. Under this protection, the cardholder will not be held liable for any online fraudulent activities.
  • Manage your credit card with monthly statements. Access to monthly statements can help you monitor your account and manage your expenses, especially when preparing for tax season.
  • Eligible for mobile contactless payments. Whether you're a Samsung, Apple or Android smartphone user, you can use the card to make contactless mobile payments with Apple Pay, Samsung Pay and Android Pay.

American Express Business Accelerator Credit Card features

  • Up to 55 interest-free days. Applicants of the credit card get to enjoy savings on their purchases with up to 55 interest-free days.
  • Standard purchase rate. If you're unable to pay your balance in full by the end of the statement period, your purchases will collect a standard purchase rate of 20.74% p.a.
  • Annual fee. Cardholders will be an annual fee of $160 each year.
  • Currency conversion fee. If you use your card to make a foreign transaction (whether overseas or online), you'll incur a currency conversion fee of 3%.
  • Supplementary card. You can get additional cards for your employees, making it easier to manage your business expenses under one account.
  • Emergency card replacement. Your credit card can be replaced fast regardless of where you are. AMEX has a global network which makes it possible for you to acquire an emergency replacement of your credit card anywhere in Australia and abroad.
  • Online fraud protection guarantee. The American Express Business Accelerator credit card protects you against losses arising from unauthorised online transactions using your credit card. Under this protection, the cardholder will not be held liable for any online fraudulent activities.
  • Card security. You have enhanced security with your credit card, thanks to the microchip feature which gives you additional fraud protection.

How to apply for the American Express Business Accelerator credit card

If you've compared your options and decided you'd like to apply for the American Express Business Accelerator credit card, make sure you've met the eligibility criteria and organised the relevant documents before beginning your application.

Eligibility criteria

To be eligible for this credit card, you must meet the following requirements:

  • You must be 18 years of age or older
  • You must be a permanent resident or Australian citizen
  • Your annual income (pre-tax) must be no less than $24,000
  • You must have a good credit history

Required information

If you meet the above requirements, prepare the following information for your application:

  • Your contact information such as your personal home and mobile numbers, driver's licence and others will be required with your application.
  • You will be required to provide information such as your annual income, etc.

To apply for this credit, you must be a company director or sole trader. Other business entities applying for this credit card will need to refer to a specialist.

The American Express Business Accelerator credit card offers cardholders a number of ways to manage their business expenses conveniently while saving on standard card costs and earning rewards points. As this isn't the only business credit card on the market, though, it's important to compare your options before you apply.

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2 Responses to American Express Business Accelerator Credit Card – Rates and Fees

  1. Default Gravatar
    Wolftalker | March 20, 2015

    A Platinum card with no points cap, and no points expire – any contenders?

    • Staff
      Jonathan | March 20, 2015

      Hi Wolftalker, thanks for your inquiry.

      Typically Platinum credit cards offer uncapped points and no points expiry. For a list of these cards please see this page.

      Cheers,

      Jonathan

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