Minnesota’s U.S. Bank partners with Amazon on small business credit cards

Minnesota-based U.S. Bank has been selected as Amazon’s new issuer for its U.S. small‑business credit cards, replacing American Express and launching two refreshed co‑branded products on the Mastercard network.

What was announced

• Amazon is rolling out a new Prime Business Card and Amazon Business Card for U.S. small businesses, to be issued by U.S. Bank on the Mastercard network.

• The cards are expected to become available in late spring or early summer 2026, with a portfolio transition from Amex targeted around August 14, 2026 for existing business cardholders.

Key card features

• Prime members will be able to earn 5% back on Amazon purchases with the Prime Business Card, while non‑Prime customers earn 3% back via the Amazon Business Card.

• Both cards will include rewards on non‑Amazon spend, flexible payment terms, and integration with Amazon’s business tools to help manage expenses and cash flow.

Strategic angle for U.S. Bank

• U.S. Bank (U.S. Bancorp), headquartered in Minneapolis, is using this co‑brand to deepen its small‑business banking franchise and expand its payments footprint nationally.

• The win shifts a meaningful Amazon small‑business portfolio from American Express to U.S. Bank, giving U.S. Bank a larger base of digitally native and marketplace‑focused small‑business customers.

Implications for existing Amex cardholders

• Existing Amazon Business and Amazon Business Prime American Express cardholders are expected to be moved via portfolio transfer to the new U.S. Bank‑issued cards, rather than re‑applying, with the switch anticipated mid‑August 2026.

• Up to the conversion date, Amex cards continue to function normally; after transition, accounts and rewards structures will be governed by the new U.S. Bank/Amazon/Mastercard program terms.