Amazon announced on March 31, 2026 that it will issue its Prime Business Card and Amazon Business Card through U.S. Bank on the Mastercard network, ending its partnership with American Express.
The new cards offer 5% back on Amazon purchases for Prime members (Prime Business Card) and 3% back for non‑Prime members (Amazon Business Card). The annual limit for earning 5% back has been increased from $120,000 to $150,000, and both cards carry no annual fee. Existing credit limits and interest rates will remain unchanged during the transition.
Existing cardholders will transition to U.S. Bank on August 14, 2026, with no change to credit limits or interest rates.
Amazon’s move deepens its financial‑services integration, providing small businesses with tailored rewards and cash‑flow tools. U.S. Bank sees a cross‑selling opportunity to its commercial customers, while Mastercard expands its merchant base and strengthens its position in the small‑business credit‑card market. The loss of this portfolio is a notable blow to American Express, highlighting competitive pressure in the co‑branded card space.
"Small businesses told us they wanted more ways to earn rewards wherever they shop and better tools to manage cash flow. We partnered with U.S. Bank and Mastercard to build a card program that delivers exactly that.” – Tai Koottatep, Amazon director and general manager of worldwide B2B payments and lending
"We are excited to partner with Amazon and Mastercard to empower small businesses with meaningful rewards and easy‑to‑use tools to manage spending, and, in the near future offering these small businesses more value with additional U.S. Bank services.” – Courtney Kelso, U.S. Bank senior executive vice president of payments
"Small businesses continue to be incredibly resilient—modernizing how they operate and navigating constant change. That is what makes this collaboration with Amazon and U.S. Bank so compelling. Together, we are bringing more value, security and simplicity to the tools small businesses rely on every day, helping them operate and grow with greater confidence.” – Eimear Creaven, president, Global Partnerships, Mastercard
The partnership expands Mastercard’s merchant base, strengthens its SMB credit‑card position, and provides Amazon with a broader network for its growing small‑business card portfolio. It also signals intensified competition for American Express in the co‑branded card market.
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