The American Express Business Amazon credit card will limit the 5%/3% cashback earning rate to $120,000 in annual Amazon purchases beginning October 1, 2020. Subsequent purchases will earn 1% cashback.
Effective 10/1/20 you will earn 5% or 3% Back on the first $120,000 in purchases each calendar year, 1% Back thereafter
The change is not yet appearing on the application on the Amex side, but is showing on the Amazon application link. The other Amazon cards which earn 5%/3% – the Chase card and the Synchrony card – do not show any change.
5% cashback is a generous amount, and apparently they don’t want to be paying that amount to businesses who order huge amounts of goods on Amazon. For that reason, I’d guess we won’t be seeing similar limits to the Chase or Synchrony cards.
My read on the change is that it will affect existing cardholders as well, and you won’t be ‘grandfathered’ in. I suppose we’ll find out for certain in the coming months.
Hat tip to my friend Michael
