For the first time in a while, American Express has introduced a new cash back credit card to the market.
The card_name launched in March 2026, and the hook is pretty simple: It offers a chance to earn unlimited 2% cash back on all eligible purchases (Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout).
For high-volume business spenders, rewards like that can add up pretty quickly!
And if you’re familiar with Team Clark’s cash back credit card advice, you know that unlimited 2% cash back with no categorical restrictions is the prime target for an everyday spender. So American Express has our attention with this one.
But there’s a catch: This card has a $295 annual fee.
We typically advise seeking 2% back on a card with no annual fee, so this one will need to offer benefits that easily exceed the annual fee to be worth it.
Quick Take: Is the Graphite Business Cash Unlimited Card Worth It?
If your business spends heavily and values simplicity above all else, this card could be worth it. The unlimited 2% back on all eligible purchases is great.
But most small businesses would actually be better off with the card_name. This no-annual-fee AmEx card awards 2% cash back on all eligible purchases on the first $50,000 spent per year, then 1% (cash back earned is automatically credited to your statement).
If your business spend is modest, it will likely deliver more net value after you factor in the Graphite card’s annual fee.
This Graphite card probably only makes sense for businesses that:
Have a very large monthly purchasing pattern that can be charged to a credit card
Will spend well in excess of $50,000 per year with the card
Regularly utilize the Amex Travel portal for travel booking
Also, if you’re not sure about having a business credit card in your wallet, you should read money expert Clark Howard’s stance on them before proceeding.
In this article, I’ll walk you through what American Express is offering to help you decide if this is the right business credit card for you.
Table of Contents
Card Overview
4 Things to Know
Pros and Cons
Card Overview: Graphite Business Cash Unlimited Card
card_name
Annual Fee:
$295
Foreign Transaction Fee:
None
Rewards Program Details:
Earn unlimited 2% cash back in Reward Dollars on all eligible purchases.
Earn 5% cash back on flights and prepaid hotels bookings though American Express Travel® Online
Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit and at Amazon.com checkout.
Bonus Offer:
Earn $1,500 Cash Back in the form of Reward Dollars after you spend $50,000 in purchases on your new Card within the first 6 months of Card Membership. Reward Dollars can be redeemed as statement credits and at Amazon.com checkout.
Terms apply.
Graphite Business Cash Unlimited Card: 4 Things to Know
Here are four key things to consider about the Graphite Business card:
1. It’s a True No-Category, Unlimited 2% Cash Back Card
The simplicity is the card’s biggest selling point.
It earns unlimited 2% cash back on all eligible purchases, with no spending caps or rotating categories. Plus, you can earn 5% cash back on flights and prepaid hotel bookings through American Express Travel® Online.
And there’s no preset spending limit on this card, either.
American Express says that cash back will be received in the form of Reward Dollars that can be redeemed as statement credits or at Amazon.com checkout.
2. The Annual Fee Is an Obstacle for Many Small Businesses
While the simplicity is great, the annual fee may wipe out your business’s gains from having the card.
At 2% cash back return on your spending, you’d need an annual spend of $14,750 just to cover the annual fee.
And that’s before the potential additional cost of employee cards. The annual fee on those is $95 per employee card. Up to 99 cards can be issued to employees.
3. There’s a Good Welcome Bonus (With a Pretty Large Spending Requirement)
There’s a chance the welcome offer on this card could be a real difference maker for your small business. It ranks among the best available on the market.
“Earn $1,500 Cash Back in the form of Reward Dollars after you spend $50,000 in purchases on your new Card within the first 6 months of Card Membership. Reward Dollars can be redeemed as statement credits and at Amazon.com checkout.”
However, there’s also a good chance that many businesses will have trouble reaching the spending volume required to achieve it. You’d need either an average of $10,000 per month in spend or perhaps one large bulk purchase that could get you there.
4. Perks Are OK but High-End AmEx Benefits Are Missing
When it comes to American Express credit cards, there is a certain level of premium perks many come to expect with the annual fees (terms apply).
You will get some of the purchase protections AmEx is known for, but you won’t see many of the statement credit offers that add value to cards like card_name.
What You Will Get
No foreign transaction fees
Car Rental Loss & Damage Insurance (secondary coverage)
Extended Warranty (up to one year extension of manufacturer’s warranty)
Purchase Protection and Return Protection (up to 90 days from date of purchase)
What You WON’T Get
Airport lounge access
Lucrative statement credits for hotel and airline purchases like you might see on the Business Platinum Card
Graphite Business Cash Unlimited Card: Pros and Cons
Final Thought: To me, this card stands out as an option for someone in charge of high-volume spending for their business. And that’s probably it. Low-to-medium volume business spenders will be better off with a no annual fee option.
The unlimited 2% cash back with no preset spending limit allows for businesses with significant monthly expenditure churn to rack up rewards without jumping between multiple business credit cards. There’s extra value if your business also books travel via the Amex Travel portal.
If you have a business like this, you can likely rationalize the annual fee as a relatively small expenditure compared to the upside of the rewards you can earn.
Is this business card something you’d consider adding to your wallet? We’d love to hear your thoughts in the Clark.com community.
To see the rates and fees for the American Express cards featured, please visit the following links: Business Platinum Card® from American Express: See Rates and Fees; The American Express Blue Business Cash Card: See Rates and Fees; Graphite Business Cash Unlimited Card: See Rates and Fees.
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