Amex’s new Graphite card bundles ChatGPT, cash back, and AI tools into one product

American Express is making a push to play a bigger role in how businesses operate day to day with a new card and tools to support it.

Alongside the launch of its Graphite Business Cash Unlimited Card, the company on Wednesday announced a broad set of updates across its commercial and AI-powered tools. Together, they signal a shift in how Amex wants to present itself to business customers.

At the center of the rollout is a new product called the Graphite Business Cash Unlimited Card. But the bigger story is how that card fits into a larger system designed to help businesses manage spending, track expenses, and automate routine work.

Expanding beyond the card

American Express has long focused on rewards, service, and travel perks. Now it is building out tools that sit behind the scenes of a business.

“Our expertise is unmatched,” said Raymond Joabar, group president of global commercial services at American Express, in the company’s announcement.

The company already has a large footprint. It’s the top issuer of small-business cards in the U.S. by spend and serves millions of small businesses, as well as many of the largest public companies.

What’s changing is how much of a business’s workflow Amex wants to touch. The company is bundling cards with software and data tools that help manage expenses and operations in one place.

A simpler rewards card with flexible spending

The new Graphite Business Cash Unlimited Card is designed for business owners who want straightforward rewards and flexibility.

It includes:

• 2% cash back on eligible purchases
• 5% cash back on flights and prepaid hotels through Amex Travel
• No preset spending limit
• Pay Over Time, which allows balances to be carried when needed

There are also incentives tied to higher spending, including up to $2,400 in statement credits for use on Amex’s accounts payable platform, One AP after spending $250,000 on eligible purchases in the current calendar year.

Later this year, Amex plans to introduce a Corporate Cash Back Card with more built-in controls and integrations for larger companies.

Bringing expense management into one system

Alongside the new cards, Amex is also introducing expense management software that brings card activity and expense tracking into a single platform.

The system will allow businesses to issue virtual cards, track employee spending, and automate approvals. It will also connect with accounting, ERP, and HR systems so that data updates automatically.

For many businesses, that could replace a mix of separate tools used to manage expenses today.

Adding AI to everyday workflows

Amex is also putting more focus on how AI can fit into the day-to-day work of running a business, especially when it comes to saving time and reducing manual tasks.

One of the most visible additions is a new $300 annual statement credit for ChatGPT Business subscriptions on U.S. Business Platinum and Business Gold cards. The company says it is the first time a credit card has offered a benefit like this, and it is designed to help business owners use AI tools to handle tasks more efficiently.

The move reflects how quickly AI is becoming part of everyday operations. According to an Amex Trendex survey, 87% of small business owners using AI say it is saving their business time, while 81% report spending less time on manual processes and 73% say it is improving employee productivity.

Beyond the ChatGPT credit, Amex is building AI directly into its own products.

For larger companies, a new Insights Agent is designed to pull together data across cards, expenses, and accounts payable systems to generate reports and surface patterns in spending. The idea is to give finance teams a clearer view of where money is going without needing to manually compile that data.

The company is also introducing an AI-powered expense app for corporate card users. The app prompts employees to upload receipts, checks purchases against company policy, and submits expenses for approval automatically. That kind of automation could cut down on one of the more time-consuming parts of expense management.

Why this shift matters

Financial tools are increasingly looking like software platforms, especially for businesses seeking greater visibility and control over spending.

Newer companies have built products that combine payments with expense tracking and automation. Amex is moving in a similar direction, while leaning on its existing customer base and service model.

For business owners, the appeal is straightforward. Fewer systems to manage and more visibility into how money is being spent. For Amex, it is a way to stay closely connected to how businesses operate, not just how they pay.

View the full article