American Express OPEN Savings Review | CreditShout

American Express OPEN Savings Review

By Dawn Allcot / June 3, 2011

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Verdict: The American Express OPEN Savings program lets cardmembers get additional savings, along with any coupons and discounts, when they use their Amex business card with select retailers. There’s no need to enroll and, currently, more than 20 retailers, including hotels and office supply stores, are partnered with Amex to participate in the program. It’s hard to find anything bad to say about this program. If you’re an Amex cardmember, it’s a great way to save extra money on your business expenses.

Overview: American Express “Open” is the company’s small business brand, with a forum, a blog, and tons of other benefits for cardholders. The company’s latest benefit for business cardholders is the OPEN Savings program.

When I first read the title, “OPEN Savings,” I thought it was a savings account for cardmembers. Don’t let the name mislead you. Instead, OPEN Savings lets you save money on select business purchases. It’s as simple as that.

How This Program Works:

1. Check the Amex OPEN Savings website to find participating retailers in a number of categories, including:

  • Lodging and Transportation
  • Shipping
  • Computers, printers and office supplies
  • Services
  • Gifts

2. Use your Amex card and shop at any of these retailers.
These include:

3. Earn additional savings, on top of your American Express rewards points and bonus points (if applicable), and other coupons and savings offers.

It really is that easy.

Right now, you can save between 3 and 10 % with a number of partners and new partners and additional savings are added frequently.

Benefits: If you visit the OPEN Savings website and enter your estimated spending in each of the different savings categories, Amex will calculate your potential monthly savings if you use your Amex card. It’s easy to estimate your spending, since most American Express business cards, including the Plum card, show you itemized statements in spending categories.

Since there are never any finance charges on your Amex card (you pay your balance in full every month), your savings will never get eaten up by interest, which is a concern if you use a rewards credit card but don’t pay your balance in full every month.

Pros:

  • No “spending categories” to remember; save when you buy from partners in all different areas, all the time.
  • No need to enroll; just use your American Express card and save
  • Program is very simple
  • Save up to 10 %
  • Combine the discount with other deals and coupons and earn membership rewards points on your purchases, too

Cons:

  • Right now, there are only about 20 + partners to choose from
  • You must use your Amex card to save
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone. Additionally, the opinions of the commenters are not necessarily the opinions of this site

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