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Amex encourages cardholders to shop at small businesses with a $5 credit when you spend $10 or more

American Express launched a limited-time offer to encourage cardholders to shop small. Here's what you need to know.

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The ongoing coronavirus pandemic continues to affect how Americans shop, with small business owners bearing the brunt of the impact of consumers' changing spending habits.

In fact, 62% of U.S. small businesses reported that they need to see consumer spending return to pre-coronavirus levels by the end of 2020 in order to stay in business, according to the Small Business Recovery Research conducted by American Express.

The good news is that the majority (62%) of consumers say they will prioritize "shopping small" when businesses in their area reopen. And 72% would be interested in shopping at small businesses if there were special discounts or offers.

"We have heard from small businesses that what they need most right now is customers back," said Elizabeth Rutledge, CMO at American Express. "With this in mind we are launching our largest-ever Shop Small offer and are rallying our global community of cardmembers to support their local businesses and shop small."

With this offer, U.S. consumer and business card members can receive $5 back after they spend $10 or more at an eligible U.S. small business. Purchases made in-store, via curbside and online all qualify for this offer.

You can take advantage of this offer up to 10 times starting today, June 29, through September 20, 2020, which means you can get up to $50 back. However, you must enroll by July 26, 2020 at ShopSmall.com.

This offer is limited to one card per cardholder. So if you have the Blue Cash Preferred® Card from American Express and American Express Cash Magnet® Card, you can only take advantage of the offer on one Cash Magnet card.

You can check which small businesses are part of the promotion by visiting the Shop Small Map.

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Enroll your eligible Card by July 26, 2020 to get a $5 statement credit after using your enrolled Card to make a single purchase of $10 or more directly with any business in the U.S. on the Shop Small Map by September 20, 2020, up to 10 times. To learn more, visit www.shopsmall.com.

Information about the American Express Cash Magnet® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.