Another devaluation – this time coming from American Express. Amex announced that they will be ending their OPEN small business savings program on June 1, 2018.
A Doctor of Credit reader noticed the following change in terms and conditions after opening a SimplyCash Business Credit Card from American Express:
- Effective June 1, 2018, the OPEN Savings program will no longer be available on your Business Card. You can view savings and rewards opportunities for business purchases, including offers from FedEx, in Amex Offers, which you can access by logging into your American Express online account at americanexpress.com.
The OPEN savings program offers business credit card holders the choice between a 5% discount or earning 2 Membership Rewards points per dollar spent (with Membership Rewards-earning credit cards) on purchases made with businesses that are partnered with the OPEN savings program. Some partners include 1-800-Flowers, FedEx, HP, Hertz, and others.
It’s likely that the ending of this program won’t have a major impact on the shopping habits of many Amex business credit card holders, it still was a nice way to earn a little extra on purchases occasionally.
Are your spending habits going to be affected by the loss of Amex OPEN savings?