American Express Rolls Out New Corporate Card Program for Startups

Weeks after its rival Brex rolled out its new cash management account, American Express Co. announced Thursday, Oct 17, it is set to launch a new corporate-card program aimed for startups in the coming months.

In a press release, the New York-based credit card provider said that the new cards will be offering full corporate liability and dynamic spending capacity for startups. This will enable them to enjoy big spending power without the need to face personal credit score impact, personal guarantee, and security deposit.

American Express Corporate Card Program

“Listening to our customers and evolving our offerings to fit their changing needs is a key reason we’ve been able to maintain our leadership position in the Corporate Card space,” said Anna Marrs, President, Global Commercial Services at American Express. “This reinvention of our Corporate Cards, coupled with the introduction of the Corporate Program for Startups, will provide our customers the powerful backing and world-class service they need to compete in an ever-changing business environment.”

Founded in 1850, American Express works as a multinational financial services corporation that offers world-class commercial cards, business services, insurance, and more. To date, the company now stands as the world’s largest commercial card issuer by spending, with a net income of $6.9 billion and $189 billion in assets.

In a report from Bloomberg, the latest announcement of its new corporate-card program is seen to be “a key part of a strategy” plotted under the company’s new Chief Executive Officer Steve Squeri.

Along with the introduction of the new corporate program for startups, American Express also unveiled new partnerships with Uber and CLEAR, plus an expanded partnership with Hilton.

To date, no specific roll-out date has been provided by the company, however, its announcement promises that the new corporate program for startups is sure to come into the market in the coming months.

RELATED ARTICLES

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles
Credit

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles Faces Obstacle

House Democrats' plan to provide customers with an additional option to encourage union-built vehicles has sparked controversy and discussion among legislators, manufacturers, and other parties. The House Ways and Means Committee last week cleared the tax breaks for consideration in the Democrats' $3.5 trillion budget bill measure, despite vocal objections...
Williams-Sonoma Key Rewards Credit Card Program
Credit

Williams-Sonoma and Capital One Introduce The Key Rewards Credit Card Program

Williams-Sonoma, Inc., a leading American home retail company, revealed that it has partnered with bank holding company Capital One to introduce the Key Rewards Credit Card Program. The company’s top-level Key Rewards program is upgraded with new credit cards. Cardholders can accumulate rewards when they shop at Williams Sonoma, Inc....
Federal Bank Credit Cards In Partnership With Visa
Credit

Federal Bank Introduces Credit Cards In Partnership With Visa

Federal Bank has announced the introduction of its credit card in India. To offer credit cards to its current clients, the private banking company has collaborated with Visa, the worldwide financial services corporation. As per Shyam Srinivasan, Managing Director and CEO of Federal Bank, the issuance of the card would...
Wells Fargo Personal Credit Lines Closure Plan
Credit

Wells Fargo Drops Personal Credit Lines Closure Plan

Wells Fargo & Co. sparked a public outcry when it announced plans to phase down personal lines of credit in July, but the firm will reverse direction on August 18, 2021. Customers who have been using their personal credit lines have just received notice from the San Francisco-based lender...
Universal Credit Human Rights Legislation
Credit

The Reduction in Universal Credit Violates Human Rights Legislation

According to the UN's poverty expert, reducing universal credit by £20 per week is an "unjustifiable" decision that violates human rights law and would certainly lead to an expansion of poverty. The retreat of the £1,000-a-year uplift from next month, according to Olivier De Schutter, the UN-appointed chair of the...
Credit Cards Dark Web Data Leak
Credit

Hackers Leak 1M Credit Cards on the Dark Web

One million stolen credit cards have been posted by hackers on the Dark Web through AllWorld.Cards. The act was reportedly done by cybercriminals in an attempt to promote their activities and operations, as well as make their organization known. The leaked credit card information was discovered by cybersecurity researchers from...
Carter’s Child Tax Credit May Boost Children’s Apparel Business
Credit

Carter’s Says Child Tax Credit May Boost Children’s Apparel Business

Carter’s, an American retailer for children’s apparel, says that with the new child tax credit rolling out across the United States, and as the usual shopping for back-to-school resumes, the company is confident about its opportunities. To meet the consumers’ demand, the company is being compelled to pay extra to...
Younited Credit Yields Million in Fund
Credit

Younited Credit Yields $170 Million in Fund Round

Younited Credit, a France-based company, has secured $170 million in fund round. Consumers in Europe can choose from a variety of credit options offered by the startup. It also employs a multi-distribution method. The funding round, which is led by Goldman Sachs, has participants including existing investors such as Bpifrance,...
Sterling Construction Modifies Credit Agreement
Credit

Sterling Construction Modifies Credit Agreement with BMO Harris Bank

Sterling Construction Company, Inc. has modified its current credit agreement with BMO Harris Bank, its lending group. It has revealed that numerous terms of the agreement are revised. Two of the terms include lowering the existing credit agreement borrowing interest rate by 2% points and reducing the credit agreement's future...