American Express have started advising their business credit cardholders that the OPEN Savings Program will be ending on June 1, 2018.
The OPEN Savings Program offered business credit cardholders a choice of either a 5% discount or two bonus Membership Rewards per dollar spent (on business cards earning Membership Rewards.)
Some of the OPEN partners included HP, FedEx and 1-800Flowers. No enrollment was necessary – if you used your card at one of the companies, you’d automatically earn either the 5% discount as a statement credit or the bonus Membership Rewards.
Although the OPEN Savings Program never influenced whether or not I shopped at any of their partners, it was a nice bonus when it coincided with Amex Offers. For example, there was an Amex Offer last year offering $75 back when spending $350. This offer appeared on all our American Express business credit cards, so we earned an additional $17.50.
Even though the benefit won’t be ending for almost three months, American Express appears to have removed all details of the OPEN Savings Program from the Benefits section of business credit cards. There used to be a specific section explaining the program and, in the case of Membership Rewards-earning cards, allowed you to choose whether you wanted to earn the 5% discount or two bonus Membership Rewards.
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As a business owner who spent about $1000/month at FedEx, I was easily able to justify my annual fee since my savings solely due to the Open program exceeded the annual fee. I’ll probably still keep the card but I guess I’ll need to eat more at the Amex airport lounges to justify it. Haha
Not sure if you’ve seen, but there’s a new Amex Offer for Fedex Shipping. There are targeted 5%, 15% and 25% amounts offering up to $1,000 in statement credits, so hope you got at least one of those.