Our verdict

Offers 50,000 bonus Membership Rewards Points, complimentary travel insurance and cards for employees, with a $70 annual fee.

The American Express Corporate Card is a charge card for companies that have an annual turnover of $10 million or more. It offers up to 51 cash flow days, cards for employees and expense management tools. It also offers 50,000 bonus Membership Rewards Points when you apply as a new Amex card member and spend $10,000 on eligible purchases in the first 2 months from card approval. But unlike some other corporate or business cards, you need to enrol in the Membership Rewards program for $89 per year – on top of the $70 annual fee.

If you do choose to enrol in Membership Rewards, the current bonus points offer would also be enough for $250 worth of spending at Webjet (as an example). You can also pool points from employee cards, so make sure you factor the potential value of rewards in when you're weighing up the yearly costs.

Pros

50,000 Membership Rewards Bonus Points offer
1.5 Membership Rewards points per $1 on most corporate spend
No pre-set spending limit and up to 51 days cash flow
Complimentary personal accident cover and licensed transport accident cover

Cons

$89 annual Membership Rewards fee to earn points
3% international transaction fee
American Express is not as widely accepted as Visa or Mastercard

The American Express Corporate Card gives large companies a way to manage expenses, with additional cards for employees and custom limits that could help lock-in budgets for each department. It also offers integration with the SAP Concur app, complimentary personal accident cover and licensed transport accident cover for eligible trips taken by you and your employees. If you pay the yearly fee to enrol in Membership Rewards, you'll earn 1.5 points per $1 on most spending and 1 point per $1 with government bodies, including the ATO.

Details

Product details

Product Name	American Express Corporate Card
Purchase rate p.a.	Purchase rate p.a. 0%
Interest-free period	Up to 51 days on purchases
Card type	American Express

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Rewards program	Membership Rewards Ascent
Bonus points	50,000
Rewards points per $ spent	1.5
Rewards points cap	Uncapped

Fees

Annual fee	Annual fee $70
Late payment fee	$30
Foreign currency conversion fee	Foreign currency conversion fee 3%

How to apply

To apply for the American Express Corporate Card, you'll need to choose the "Speak to a specialist" option on the Amex website and fill in the short detailed form. After that, someone from Amex will contact you about your application.

To help you prepare, check that you meet the requirements and have all the details you need on hand.

Eligibility criteria

Business Revenue. Your annual business revenue must be at least $10 million.
Valid ABN. This charge card requires your business to have a valid ABN.

Residency. Citizens and permanent residents of Australia are eligible to apply.
Age. You must be at least 18 years of age to apply for a credit card.

Required documents

Personal details. You'll need to include details like your full name, email address, contact number, residential address.
Proof of identity. This includes your Australian drivers licence, Medicare card or passport.
Business details. This includes your business name and annual business revenue.
Financial details. You'll be asked to include your business' ABN as well as proof of personal income and business turnover including recent payslips, bank statements and relevant reports from your accountant.

Card benefits

50,000 bonus Membership Rewards Points. You'll earn 50,000 bonus Qantas Points if you apply as a new Amex card member, are approved and spend $10,000 on eligible purchases in the first 2 months from approval. The points will be credited to your account within 8 to 12 weeks of meeting the requirements.
Membership Rewards. Choose to enrol in Membership Rewards and you'll earn 1.5 points per $1 on most eligible spending, and 1 point per $1 spent with government bodies (including the ATO). You can redeem points for rewards including travel bookings, gift cards, statement credits and point transfers to loyalty program partners including Velocity Frequent Flyer and Air New Zealand Airpoints. There is an $89 annual Membership Rewards fee, which is charged in addition to the card's annual fee.

Travel insurance cover. This card offers complimentary personal accident cover and licensed transport accident cover for you and your employees when you use it to book a return domestic or international trip. As with any insurance policy, the conditions vary and you should read the product disclosure statement for full details.
Expense and account management tools. Keep track of expenses, check policy compliance and create a range of reports through the American Express @ Work online platform. If you use Concur for expense claims, you can also link your account to speed up the process.
Mobile contactless payments. You can add these cards to Apple Pay, Google Pay and Samsung Pay to make payments straight from your mobile phone or device.

Rates & fees

Annual fee. The American Express Corporate Card has an annual fee of $70.
Spending limit. There is no pre-set spending limit with this card. Instead, purchases will be approved based on factors including your current spending patterns, payment history and credit record.

Repayments. This charge card gives you up to 51 days to pay off purchases. The actual number of days you have to settle payments is calculated based on when you make a purchase, when your statement is issued and whether or not you are carrying forward a balance on your account from your previous statement period.
Account liability options. You can set up this account with liability for business charges only, or for all charges made on cards that are linked to the account. Note that you'll be protected against unauthorised transactions regardless of which liability option you choose.
Security features. As well as cover for unauthorised transactions, this card offers online fraud protection and worldwide emergency card replacement within 48 hours.

Sources

American Express Corporate Card information PDF

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American Express Corporate Card

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