American Express Unveils New Graphite™ Business Cash Unlimited Card, Rewarding Business Owners with Unlimited 2% Cash Back

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Key Terms

no preset spending limit financial

A "no preset spending limit" feature means a card does not have a fixed maximum balance; each purchase is evaluated individually based on the cardholder’s income, payment history and current finances, so the allowable charge can flex up or down. For investors, this matters because it affects how much credit consumers can use, influencing fee and interest income as well as the lender’s exposure to default—similar to a storekeeper who adjusts a customer’s tab based on trust and recent behavior.

pay over time financial

A payment option that lets a buyer receive goods or services now and spread the cost across several scheduled installments or months, sometimes with interest or fees. For investors, this matters because it can boost sales and customer demand, change when companies record revenue and cash flow, and create credit or default risk for firms that finance the installments—similar to a store offering to let you split a big purchase into smaller, predictable payments.

virtual cards technical

Digital payment cards that exist only as electronic numbers and settings rather than a physical plastic card; they can be single‑use or set to expire after a short time and are linked to a bank or corporate account. Like a disposable key for one online purchase, virtual cards cut fraud risk, make expense tracking and reconciliation faster, and let businesses tightly control who can spend what — factors that can lower losses and boost revenue or efficiency for banks, fintechs and corporate clients.

reward dollars financial

Reward dollars are company-issued monetary credits that customers earn through purchases, promotions, or loyalty programs and can be used later like cash toward future goods or services. For investors, the size, cost and redemption behavior of these credits matter because they affect revenue recognition, customer retention and future cash flow—think of them as a prepaid coupon that can boost sales but also creates an obligation the company must fund.

statement credit financial

A statement credit is a dollar amount applied directly to a customer’s billing statement that reduces what they owe, similar to a store giving a coupon that lowers your bill after purchase. For investors, statement credits matter because they represent refunds, promotional discounts, or adjustments that can reduce a company’s reported revenue or increase liabilities and affect cash flow, margins and customer-retention costs.

accounts payable automation financial

A system that uses software to handle a company’s bills and supplier payments automatically, replacing manual data entry, paper invoices, and check‑writing with digital workflows and electronic payments. For investors, this matters because it reduces costs and errors, speeds up processing, improves cash‑flow visibility, and lowers fraud risk—similar to switching from paying household bills by mail to using secure automatic online bill pay.

03/25/2026 - 07:00 AM

NEW YORK--(BUSINESS WIRE)-- American Express (NYSE: AXP) today introduced the American Express Graphite™ Business Cash Unlimited Card, a new Business Card that offers unlimited 2% cash back on all eligible purchases and unlimited 5% cash back on flights and prepaid hotel bookings through American Express Travel^®, with no cap on the amount of cash back Card Members can earn. Available starting today, the Graphite™ Card comes in a metal card with a carbon fiber-inspired design.

The Graphite Business Cash Unlimited Card

“No matter where or how they spend, business owners want to feel confident that their business spending is working for them, and we built the Graphite™ Card to make it easy to earn cash back on every business purchase,” said Raymond Joabar, Group President, Global Commercial Services at American Express. “By combining unlimited 2% cash back with powerful spending capacity, the Graphite™ Card can help businesses fuel growth, improve cash flow management, and strengthen their bottom line.”

The Graphite™ Card offers a straightforward way to earn unlimited cash back and access to tools that business owners need to do more business, from Virtual Cards to accounts payable solutions. These benefits are combined with features that help Card Members manage their cash flow, including Pay Over Time, which gives Card Members the ability to carry a balance with interest, and No Preset Spending Limit, where the amount Card Members can spend adapts based on factors such as purchase, payment and credit history. High spending American Express Business Card Members with No Preset Spending Limit spend more than 3X on their American Express Cards than they spend on their cards from competitor issuers¹.

With the Graphite™ Business Cash Unlimited Card, businesses can rely on the trust, security, and service of American Express. The Graphite™ Card will have an annual fee of $295².

Cash Back and Built-In Flexibility for Growing Businesses

The Graphite™Card helps Card Members earn cash back on all eligible purchases, which can be reinvested back into their business, while offering spending capacity and flexible payment options so they can confidently make purchases with the powerful backing of American Express. This includes:

Unlimited 2% Cash Back: Earn unlimited 2% cash back on eligible purchases.
Unlimited 5% Cash Back on American Express Travel^®: Card Members can get more from their travels with 5% cash back on flights and prepaid hotel bookings through Amex Travel^®3.
Flexible Reward Dollars: Card Members earn cash back in the form of Reward Dollars and can choose how they redeem them, either as a statement credit or at Amazon.com checkout, at a 1:1 rate and with no minimum redemption amount.
No Preset Spending Limit: A flexible spending limit can give small business owners the ability to unlock more purchasing power. Unlike a traditional credit card with a set limit, the amount Card Members can spend adapts based on factors such as purchase, payment and credit history.
Pay Over Time: The ability to carry a balance with interest up to the Pay Over Time Limit so Card Members can handle expected or unexpected expenses that come their way.

Integrated Business Tools and Powerful Backing of American Express

With the Graphite™ Business Cash Unlimited Card, Card Members also receive a suite of tools and solutions that help them manage their business finances, including:

Employee Cards: Card Members can get metal Employee Graphite™Business Cash Unlimited Cards for $95 per year for the first 5 Cards, and $95 for each thereafter, with the ability to earn Reward Dollars on purchases and receive alerts to help Card Members know who’s spending and where. An Employee Business Expense Card for no annual fee is also available.
Virtual Cards: Card Members can issue Virtual Cards which offer adjustable spending limits to help control expenses, and unique digital card numbers offer added security.
$2,400 One AP^® Statement Credit: Card Members can unlock up to $2,400 in statement credits for use in the following calendar year on monthly fees for American Express’ accounts payable automation platform One AP^® after spending $250,000 on eligible purchases on their Graphite™Card in a calendar year. Terms apply.
Financial Tools: The Graphite™ Business Cash Unlimited Card is integrated with American Express’ suite of small business solutions, including the American Express Business Checking Account and the Business Line of Credit. Subject to eligibility. Deposit accounts offered by American Express, Member FDIC.
Powerful Backing of American Express: These benefits are backed by American Express’ world-class service and support. American Express has ranked #1 in Card Member Satisfaction among Small Business Credit Card Companies for four years running⁴.

The Graphite™ Card delivers what small businesses say they want in a cash back business credit card. The latest Amex Trendex: Small Business Edition⁵ found that among small businesses who prefer cash back rewards over points or miles, they do so for the ability to use them however they want (30%) and apply them directly to business expenses (26%). When asked what features are most important when picking a financial product for their business, over half of small businesses who prefer cash back agreed that a trusted financial partner (52%) and simple, straightforward rewards (52%) are among the most important.

See here for more information, including terms and conditions, about the American Express Graphite™ Business Cash Unlimited Card.

¹ Based on analysis of AXP Business Card Members with No Preset Spending Limit and with >$100K in annual spend in 2025. Competitor spend based on benchmarking of external sources

²Rates and fees.

³Purchases eligible for multiple cash back rates will only receive the highest eligible cash back rate. Eligible purchases do not include fees or interest charges, balance transfers, cash advances, purchases of traveler’s checks, purchases or reloading of prepaid cards, purchases of other cash equivalents, gift cards, person-to-person transactions, or any portion of a purchase that is covered by Reward Dollars at point of sale.

⁴American Express received the highest score in the J.D. Power 2021-2024 Small Business Credit Card Satisfaction Studies, which measure small business owners’ and decision makers’ satisfaction with their primary credit card they use for their business. Visit jdpower.com/awards for more details.

⁵ This online survey was conducted by The Morning Consult LLC on behalf of American Express between December 12 - 16, 2025 among 1,144 decision makers at small businesses (i.e., fewer than 500 employees). The interviews were conducted online. Results from the full survey have a margin of error of plus or minus 3 percentage points.

ABOUT AMERICAN EXPRESS

American Express (NYSE: AXP) is a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services, and experiences that enrich lives and build business success.

Founded in 1850 and headquartered in New York, American Express’ brand is built on trust, security, service, and a rich history of delivering innovation and Membership value for our customers. We seek to provide the world’s best customer experience every day to a broad range of consumers, small and medium-sized businesses, and large corporations, and we build and manage relationships with millions of merchants across our global network.

For more information about American Express, visit americanexpress.com, americanexpress.com/en-us/newsroom/, and ir.americanexpress.com.

Location: U.S.