American Express’ “Small Business Saturday” initiative helped generate a reported $19.6 billion in spending in one day in 2019. Now, the company is back to encourage cardholders to support small businesses facing challenges due to the pandemic. The company is offering its small business statement credit incentive starting this month to give users up to $50 in credit for purchases made at small businesses.
So how does it work? Cardmembers will be eligible for $5 statement credits whenever they spend $10 or more at small businesses and can earn statement credits up to 10 times. To be eligible, cardmembers must register by July 26 and all U.S. Amex consumer, business Serve and Bluebird cards are eligible.
Many small businesses are struggling to stay afloat right now. Although the initiative will not be able to save every mom and pop shop, it will make a difference for some stores which are just scraping by. For most small businesses, every sale counts, and given the widespread use of American Express cards, hopefully, this will make a real difference for some local stores.
