By Uday Devgan
Updated On August 2, 2022

The American Express Purchasing Solutions Credit card by the American Express, has been deigned for the corporates to streamline purchase transactions in a simplified electronic manner. The card offers streamlined procure-to-pay process which saves time and effort as it simplifies this by consolidating the expenses into one easy one payment. Thereby, reducing dependence on the paperwork like cheques and invoices. Also, with this the purchase process also gets faster and efficient and reduces the time and cost spent on paperwork as now the whole process is now electronically. Also, with American Express @Work, every transaction or every other administration task gets easy to control and trackable, along with the purchase and other transactions that are posted daily.

With Amex Purchase card you can have better control over the individual cards by having customizable controls over the cards that the employees use and be protected from any fraudulent activity. You can control spending limits for every transaction and have limit the usage for the whole month also. Also, with the purchase card, high level of services for advice and consultancy for each purchasing solution is provided as well.

The American Express has launched other Corporate Cards as well like American Express Platinum Corporate Card and American Express Corporate Card, which offers much premium benefits and privileges for corporates. However, the Corporate Purchase Card is a great option if you want to start journey with a basic credit card or you only require assistance in purchase solutions. Read on to get detailed review about the Amex Purchase card.

(4.5/5)

Best Suited For

Joining Fee

NIL

Reward Type

Product Details

  • Eliminating the need for invoices and cheques with streamlined procure-to-pay process.
  • Consolidate expenses into one easy one payment.
  • American Express @Work Corporate Account Reconciliation automates your entire reconciliation process.
  • Better control over the expenses and individual cards.
  • High level of service for purchasing solution for corporates through purchasing and e-commerce consultants.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

NA

Reward Redemption

NA

Travel

NA

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

NA

Zero Liability Protection

Cardholder not liable for any fraudulent transaction if loss of card is reported within 3 working days. Maximum liability of up to Rs. 1,000 on reporting after 3 days

Fees & Charges

Joining Fee

NIL

Renewal Fee

Rs. 2,100 (plus applicable taxes)

Spend based Waiver

NA

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% of the transaction amount

Interest Rates

3.5% of the outstanding, subject to a minimum of Rs. 100 (Delinquency Fee)

Fuel Surcharge

1% (2.5% for private fuel) of transaction amount per transaction subject to a minimum of Rs. 10. (1% for HPCL if transaction above Rs. 5,000)

Cash Advance Charge

3.5% of the withdrawal amount

Add-on Card Fee

Nil

American Express Purchasing Solutions Card Features and Benefits

The American Express Purchasing Solutions card is designed for corporates to have a better control over the purchasing process as well as for having better control over the expenses, be it at the employee level or corporate level. Following is the detailed information about the card:

Streamlined procure-to-pay process

With the Amex Purchasing solutions card, corporates can enjoy the benefit of the simplified electronic purchasing process, which promotes improved coordination among the different department of the organization indulged in the process of procurement. The process saves time as well the cost as it reduces the use of paperwork involved for the procurement process. Promotes visibility of the process, better relations with the supplier and quick decision making can also be seen with this process. Also, with better visibility and quick process, the chances of negotiation with the supplier also increases as they are now assured about the payment for the purchase orders places by the corporate.

Better Control

Be it at the employee level or at the corporate level, the Amex purchase card grants the corporates the ability to have a better control over the expenses and on the card as well. The card helps to control and put a limit on each transaction done by the employee, also put monthly limits on the card that can accessed by the employees. Corporates can also put variable limits on the card, so that the employees do have to face additional charges.

American Express @Work

American Express @Work is a business-to-business suite of online expense management solutions that enables to deliver more effective supplier strategies, monitor compliance and streamline business processes. It helps to monitor the reconciliation process, increases control and accuracy of accounting and cost allocations.

Purchasing and E-Commerce Support

The American Express Purchasing Solutions card comes with high level of support service and program management to provide expertise in expense management and also for the procurement process.

Zero Liability Protection

Cardmember shall not be liable for any fraudulent transaction if loss of the card is reported within 3 working days, otherwise, the liability of the cardmember is limited to Rs. 1,000.

American Express Purchase Card Fees & Charges

  • Joining Fee and Annual Fees: There is no Joining Fees charged for the American Express Purchase Card. The Renewal/Annual fees for the card is Rs. 2,100.
  • Late Payment Fee: American Express Purchase Card is a charge card and therefore, a delinquency fee of 3.5% of the outstanding, subject to a minimum of ₹100 of a transaction is applicable.
  • Forex Mark-up Fee: A foreign currency fee of 3.5% (plus applicable taxes) of the transaction amount is applicable on all foreign currency transactions made with American Express Purchase Card.
  • Cash Advance Charges: A charge of 3.5% of the amount withdrawn is applicable on the cash advance transactions made on American Express Purchase Card.

American Express Corporate Credit Card Eligibility Criteria

The eligibility criteria that need to be fulfilled in order to get approved for the AmEx Purchase Card are not clearly disclosed by the card issuer. However, the criteria may depend on different factors including the applicant’s safe, income from their business, credit score, etc. Some of the basic requirements for this card are as follows:

  • The applicant’s age should be a minimum of 21 years.
  • The applicant should have a business with a good income.

Documents Required

The documents required to apply for the American Express Purchasing solutions Credit Card are as mentioned below:

  • PAN Card or FORM 60.
  • Passport, Driving License. Voter’s Identity Card, Job card issued by NREGA duly signed by an officer of the state government or Letter issued by the National Population Register containing details of name and address. (Any one)

How To Apply For American Express Corporate Credit Card?

The American Express Bank provides its customers with online as well as offline methods to apply for the AmEx Purchase Credit Card. To apply offline, you can visit your nearest AmEx branch and apply for the card by filling out the physical application form. Make sure to carry all the necessary documents along with you. To apply online, you can visit American Express Bank’s official website and apply for the AmEx Purchase Credit Card by filling in the digital application form. You can also apply for the card by contacting customer care.

Conclusion

The American Express Purchasing Solutions Credit card is a great option for corporates who want to enjoy the benefit of advanced purchasing process with the streamlined procure-to-pay process. The card reduces the dependency on paperwork and thereby help in reducing cost and time. Also, the card provides greater control over the card and the expenses, by putting a limit over the transaction and monthly limit for the employees. That was all for the American Express Purchasing Solutions Credit card review. Drop your views on the card in the comment section below.

FAQs:

No, the American Express Purchasing Solutions Credit card does not offer any reward points or cashbacks on any business transaction.

There are no Overdue Interest Charges applicable for the Amex Corporate Card, instead Delinquency Fee is levied at the rate of 3.5% on the unpaid balance (with a minimum monthly Delinquency Fee of Rs. 100).

For example, If you incur any expense of Rs. 1,00,000 and you failed to pay the bill by the due date, then this amount will attract the Delinquency Fee of 3.5% which will be Rs. 3,500 (1,00,000 X 3.5%). Now, you owe an amount of Rs. 1,03,500 in total.

Incase you again fail to pay the due amount, the card will charge the Delinquency Fee again on the due amount of Rs. 1,03,500.

As mentioned on the Amex’s website the application for the card may take up to 15 days, however in certain cases it may take lesser time, provided that you submit all the documents and comply with the policies.

Yes, Corporate Cardmembers may access cash up to USD 1000 every 15 days or as specified as per Company limits.

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