The Graphite Business Cash Unlimited Card from American Express
By Alex Compton · Last verified
The Plum Card's replacement: unlimited 2% back everywhere for a steep $295.
Welcome Bonus
$1,500
≈$1,500 value
Spend Requirement
$50,000
in 6 months
Annual Fee
$295
No FTF
Credit Score
700+
(Good-Excellent)
Current offer note: Public offer confirmed: $1,500 cash back as Reward Dollars after $50,000 in 6 months
Historical Offers Chart
Every public offer change we've tracked. Hover for details, timing your application is worth hundreds of dollars.
| Observed | Offer | Requirement | What changed | Evidence |
|---|---|---|---|---|
| 2026-10-12 | $1,500 | $50,000 in 6 mo | Terms reconfirmedPublic offer confirmed: $1,500 cash back as Reward Dollars after $50,000 in 6 months | American Express Graphite Business Cash Unlimited product page → |
| 2026-06 | $1,500 | $50,000 in 6 mo | Terms reconfirmed | Archive record · no attached snapshot |
| 2026-03 | $1,500 | $50,000 in 6 mo | Earliest recordLaunch offer, replaced the Plum Card March 25, 2026 | Archive record · no attached snapshot |
Primary-source verification log
Append-only evidence ledger- confirmed
$1,500 after $50,000 in 6 months, $295 fee, $95 employee cards, 2% unlimited, 5% Amex Travel and One AP credit confirmed.
American Express Graphite Business Cash Unlimited product page →
Source checked 2026-10-12 · spot an outdated offer? Report a correction above.
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Earning Rates
- 5xFlights and prepaid hotels via Amex Travel
- 2xAll other purchasesUnlimited, no caps
Credits
No statement credits, this card wins on earn rates, not coupons.
Benefits
- ✦No preset spending limit
- ✦Up to $2,400 in One AP statement credits with $250k in eligible annual spend
- ✦Amex business expense tools and account alerts
- ✦Purchase protection and extended warranty
- ✦No foreign transaction fees
Why it earns its spot
- +Uncapped 2% on an Amex business credit card is new territory
- +5x on Amex Travel flights and hotels is a real kicker
- +No foreign transaction fees, rare for an Amex cash back card
Where it costs you
- −$295 annual fee for a 2% card is a hard sell
- −Bonus requires a heavy $50,000 spend in 6 months
- −Ink Premier does 2.5% on big purchases for $100 less
The Compound Verdict
Amex retired the Plum and answered the Ink Premier with this. The math only works if you spend enough for uncapped 2% plus the travel 5x to outrun the $295 fee, roughly $30k+ a year of spend that would otherwise earn nothing extra. Most small businesses should grab the bonus value elsewhere first.
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