This Week in Credit Cards: A New AI Perk From American Express May Change How Businesses Work

For many business owners, the question no longer is whether AI can help them improve the efficiency of their operations, but rather by how much. Nevertheless, not every business owner has been quick to embrace the use of AI tools in their business practices.

American Express made an announcement this week that may motivate business owners who’ve largely stayed on the sidelines when it comes to AI. 

A new AI credit on Amex business credit cards, the latest on the Colorado interchange bill, and Affirm want to put BNPL directly into banking apps. Catch up on all of these stories and more in This Week in Credit Cards 💳 https://t.co/sPHhAt8pXv pic.twitter.com/d5XEmUapAR

— CardRates News (@CardRatesNews) May 15, 2026

The leading credit card issuer is offering Business Platinum or Business Gold cardholders up to $300 each calendar year in statement credits for U.S. purchases of ChatGPT Business subscriptions.  

Business owners can have a seemingly never-ending list of tasks to take care of on any given day. ChatGPT Business can help people spend less time on routine workflows and more on higher-value activities that drive company growth. Business owners can use the tool to review documents faster and analyze company data to identify opportunities to cut costs.

Both the Business Platinum and the Business Gold cards come with an annual fee. American Express’ new statement credit helps offset that charge and may encourage more business owners to apply for the cards. 

While the battle over interchange fees in Illinois carries on, another state is moving forward with its own plans to restrict interchange charges on card transactions. Colorado is advancing a bill that would block companies from charging interchange fees on the sales tax portion of a credit or debit card payment.

The Colorado bill is slightly different from the Illinois Interchange Fee Prohibition Act (IFPA). Unlike the IFPA, it doesn’t apply to the gratuity portion of a customer’s bill. But similar to the IFPA, the Colorado measure has attracted its share of critics.

The Electronic Transactions Association said that all parties — including financial institutions, payment processors, merchants, and consumers — would face adverse effects from the legislation. The association also pointed out that the costs of implementation would outweigh any benefits the bill could bring.

On the other hand, the Merchant Payments Coalition applauded Colorado lawmakers for introducing legislation that it believes will lead to significant cost savings for consumers and small businesses in the state. 

Community leaders in the Centennial State aren’t so sure about its benefits, though. They have concerns about the bill and the Credit Card Competition Act, as losing credit card rewards would negatively impact families already facing significant financial challenges.

Earlier this year, CardRates covered the arrangement between U.S. Bank and Amazon that put the financial institution in a position to issue two new Amazon credit cards. Now, the companies have officially launched the new Amazon Business Card and Prime Business Card.

Prime members can use the Prime Business Card to earn 5% back on up to $150,000 of annual spend they make from Amazon platforms, including Whole Foods Market. Members can earn 3% back on the same spending level when they use the Amazon Business Card. Rewards on both cards apply to U.S. purchases.

While cash back can be an appealing incentive, business owners with an eye on expense control will be pleased to learn that neither card comes with an annual fee or additional charges for foreign transactions.

Amazon and U.S. Bank are also offering cardholders tools they can use to stay on top of company purchases. Business owners can set spending limits on the cards and issue virtual cards with customizable controls to employees.

Both cards run on Mastercard’s network and come with protection against unauthorized transactions and AI-driven fraud monitoring.

A new report from the Federal Reserve Bank of New York shows that U.S. credit card debt came in at $1.25 trillion for the first quarter of 2026. While that figure looks astoundingly high, it actually represents a decrease of $25 billion over card balances in the fourth quarter of 2025.

But the Fed’s numbers don’t necessarily paint a rosy picture of how Americans are doing when it comes to chipping away at card debt over the long term. A CNBC report reveals that the $1.25 trillion mark is nearly 6% higher than where card debt was just one year earlier.

Whether credit card debt will continue to decrease throughout 2026 remains to be seen. The summer travel season is right around the corner, and the price of fuel may prevent cardholders from paying their balances in full each month. 

A recent AAA report reveals that the U.S. average price for a gallon of regular unleaded gas this week is more than $1.30 higher than it was one year ago.

And a new survey from digital finance company Achieve indicates that 53% of U.S. consumers carry balances on their credit cards to help manage the rising prices of essential goods and services.

Affirm is turning to banks to reach more BNPL users. At a recent investor forum, the company unveiled its plans for a product that will integrate its BNPL offering into existing banking apps.

The solution, which the company calls Affirm Edge, will help the fintech get to where it wants to be as a business, according to Michael Linford, Chief Operating Officer at Affirm. 

At a recent media roundtable, Linford told reporters that Affirm aims for consumers to have access to its products wherever they are — including through their bank and at online retailers such as Amazon, according to a new American Banker report.

Affirm has high hopes for the new program, estimating that the overall market opportunity for Affirm Edge is $140 billion.

In other Affirm news, Google is partnering with the company and Klarna to offer BNPL options in agentic commerce.

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