OPEN from American Express(SM) Launches Premium Cash Rebate Credit Card for Small Businesses

The Platinum Business Premium Cash Rebate Card Gives High-Spending Customers a Rich Rebate and Savings on Common Purchases

NEW YORK, May 3 /PRNewswire/ — OPEN from American Express today launched the Platinum Business Premium Cash Rebate Card, a fee-free credit card for high-spending small business owners. The new Card allows customers to earn up to 5% cash back on purchases(1). There is no limit to the amount of cash back customers can earn each year, and the rebate will conveniently appear as an annual credit on a Cardmember’s statement.

The Platinum Business Premium Cash Rebate Card offers 2.5% cash back on annual spending between $20,000 and $120,000, and offers at least 0.5% cash back on all other spending. Cardmembers can earn even richer rewards — double cash back, totaling up to 5% — on purchases made through merchants that participate in the OPEN Savings(SM) program(2). OPEN Savings already provides automatic discounts on a variety of business necessities that include long distance calling, express shipping, car rental and business supply purchases with select merchants.

“Businesses — particularly the highest-spending firms — are demanding more value in an increasingly competitive marketplace,” said Raymond Joabar, senior vice president and general manager, OPEN from American Express. “The Platinum Business Premium Cash Rebate Card delivers terrific value for customers who spend heavily on their card.”

OPEN from American Express also offers the Platinum Business Cash Rebate Card, which rewards customers with 0.5% cash back for annual purchases at or below $7,500; 2.5% cash back for annual purchases between $7,501 and $15,000; and 1% cash back for annual purchases above $15,000. Similar to the Platinum Business Premium Cash Rebate Card, there is no limit to the amount of cash back customers can earn each year with the Platinum Business Cash Rebate Card.

In addition to a rich cash rebate and valuable savings, the Platinum Business Premium Cash Rebate Card offers a variety of benefits, including:

* No annual fee
* % introductory annual percentage rate on purchases for the first six
months of Cardmembership(3)
* Available credit line of up to $100,000
* Purchase Protection Plan(4), which protects eligible purchases against
accidental damage or theft for up to 90 days from date of purchase
* Buyer’s Assurance Plan(5), which matches the original manufacturer’s
guarantee up to one additional year
* Car Rental Loss and Damage Insurance Plan(6), which covers excess damage
or theft expenses not covered by a Cardmember’s other insurance plans
* Expense Management Reports, for customizable online reports that help
customers track business spending on their Card

About OPEN from American Express

OPEN is the division of American Express that provides small business owners access to an enhanced set of products, tools, services and savings designed to help meet their evolving needs, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPEN, visit http://www.open.americanexpress.com/ , or call 1-800-NOW-OPEN to apply for a Card or loan. Terms and conditions apply.

American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.

(1) There is no limit to the amount of cash rewards you can earn. Your
rebate on a specific purchase is determined by (1) whether the
merchant participates in the OPEN Savings and (2) your total annual
spend to date as of the day the purchase is made. Rebates are
calculated on a monthly basis and awarded annually. The rebate applies
to purchases but not to cash advances, returned purchases, balance
transfers and purchases of American Express Travelers Cheques, for
example. The following table illustrates how the rebate percentage is
determined for each eligible purchase:

Earn 1% on OPEN Savings … when your year-to-date
Participants or 0.5% on spend is $0-$20,000.
all other purchases …

Earn 5% on OPEN Savings … when your year-to-date
Participants or 2.5% on spend is $20,000.01-$120,000.
all other purchases …

Earn 1% on OPEN Savings … when your year-to-date
Participants or 0.5% on spend is more than $120,000.
all other purchases …

(2) Payment must be made with an American Express(R) Business Card.
Participation and offers are subject to change without notice. Terms
and conditions apply. For more information please visit
open.americanexpress.com/savings.
(3) 0% introductory Annual Percentage Rate (APR) on purchases for the
first six months of Cardmembership, and then an APR of Prime +9.99%.
(4) Coverage is limited to $1,000 per Occurrence, up to $50,000 per
Account per policy year and is in EXCESS of other sources of
indemnity. Underwritten by AMEX Assurance Company, Administrative
Office, Green Bay, WI. Coverage is subject to the terms, conditions
and exclusions of Policy AX0951.
(5) Underwritten by AMEX Assurance Company, Administrative Office, Green
Bay, WI. Coverage is subject to the terms, conditions, and exclusions
of Policy AX0953.
(6) Underwritten by AMEX Assurance Company, Administrative Office, Green
Bay, WI. Coverage is subject to the terms, conditions, and exclusions
of Master Policy AX0925. See Description of Coverage for full
details.

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