American Express Graphite Business Cash Unlimited Card ($2,000 Bonus, $295 Annual Fee)

Update 3/25/26: Some are seeing a $2,000 bonus instead of the public $1,500 offer by checking incognito or via referral link. I can’t get it to show, but many have been able to find it. 

Original Post 3/25/26:

American Express has launched the American Express Graphite Business Cash Unlimited Card. It’s slightly different than the rumored card with a $295 annual fee. 

Card Details

• $1,500 sign up bonus after you spend $50,000 on purchases within the first six months
• $295 annual fee, not waived first year
• Card earns 2% cash back on all purchases and 5% back on flights and prepaid hotels booked through American Express Travel Online

Our Verdict

I’m not sure I understand the use case for this card apart from the sign up bonus. The Chase Ink Premier is objectively better earning 2% on all purchases with a $195 annual fee and 2.5% back on purchases above $5,000. Capital One Spark cash is 2% on all purchases and a $95 annual fee. 

That being said the sign up bonus is interesting, if you spend exactly $50,000 you’d earn $1,500 from the sign up bonus and then another $1,000 from the spend itself for $2,500 (minus the $295 annual fee). 

Again I don’t see any use case where actually keeping this card beyond the first year makes any sense either. I suspect it’s targeted towards businesses with a large amount of credit card spend that just want to set and forget these purchases but still earn at a high rate and have some cash flow flexibility. 

Will add the bonus to our best credit card bonuses. More rumored and expected cards can be found here.