I’m not sure if this is a new, but “American Express” offers some of his business to open credit cards in working capital. Basically if the supplier you are working with does not accept credit cards (or American Express credit card), they will pay the seller on Your behalf and then you pay a fixed fee. Fee structure as follows:
- 30 days: 0.5% -1.75% fixed fee
- 60 days: 1% -3% fixed fee
- 90 days: 1.5%-5.25% fixed fee
“American Express” is making more efforts to cross-sell customers credit card “” other ancillary products, so I’m not surprised to see them highly targeted business clients will appreciate it. This is one reason why chase was able to lose money on the purchase initially, chase customers reserve the Sapphire as they predicted, they could convert those clients with investment and mortgage loans at a later date (although it has to be proven).