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Q: I am so annoyed with annual fees with credit cards! I’m looking for a new American Express, but is there one that doesn’t come weighed down with annual fees?
A: There are actually two American Express business cards that do not charge an annual fee, at least for the first year. These are American Express Blue and American Express OPEN. Both cards have their own unique benefits and features.
For example, the American Express Blue card charges no annual fee, ever. In addition, there is a 0% introductory APR (annual percentage rate); after that, interest will be anywhere from 15.24% to 19.24%, depending on card history, credit score, and other factors.
The Blue card lets the user choose from full payment each month to carrying over a balance. This provides flexibility, which can be very helpful, especially to a small business.
The Blue card also has a rewards points program called Membership Rewards Express®. Points can be earned for different things, such as making purchases, booking travel arrangements, and other things. The points don’t expire, and there is no “cap” on the number of points that can be earned.
The American Express OPEN card also charges no annual fee for the first year; after that the fee is $125. However, there are several varieties of OPEN cards to choose from, each with their own options, including the Membership Rewards® program and purchase protection.