Consumer Payment Card News

FreedomPass Card

Small business owners may have a hard time passing up a new American Express card that effectively pays out about $65 just for signing up and making one purchase. The new “Platinum Business FreedomPass Credit Card” carries no annual fee and awards one point for each dollar charged. The points are worth about 1.3 cents each and can be redeemed on any travel related charge. New business cardholders also receive 5,000 bonus points for their first purchase on the card. Point redemptions start at 7,500 points ($100 off) and are redeemable in 7,500 point increments thereafter. The points can be used on any flight, hotel, car rental or cruise charged to the card. Cardholders simply make their travel purchases through any source and then request a statement credit. Other card benefits include access to the entire “OPEN Network,” automatic “OPEN Savings” from specific merchants, and detailed expense management reports. The card carries a prime rate plus 7.99% interest rate on purchases. For more information visit: “http://www10.americanexpress.com/sif/cda/page/0,1641,23016,00.asp”:http://www10.americanexpress.com/sif/cda/page/0,1641,23016,00.asp

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