Consumer Payment Card News

AMERICAN EXPRESS LAUNCHES BUSINESS CREDIT CARD

American Express announced this morning via a full page ad the new ‘Gold Corporate Optima Card from American Express”. The new credit card for small business offers credit lines up to $20,000. There is no annual fee and an introductory rate of 8.9% is offered for the first six months. Afterwards the interest rate for purchases is prime +6.9% and prime +12.9% for cash advances. A punitive interest rate of prime +9.9% is applied to delinquent accounts.

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