Want a simple way to earn cash back for your business? The SimplyCash® Plus Business Credit Card from American Express offers 0% Intro APR for 15 Months and a variable APR of 14.49% – 21.49% after.
This card gives 5% cash back at office supply stores and wireless telephone services, plus 3% cash back from a category of your choice from a given list, so you have freedom in what you’re earning for your rewards.
Is this the best cash back credit card to get for your business? Check out what the SimplyCash® Plus Business Card has to offer for you.
|5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
3% on the category of your choice from a list of eight and 1% cash back on other purchases.
|5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter.
|No annual fee.
|2.7% foreign transaction fee.
|0% introductory APR on purchases for 15 months(variable APR of 14.49% – 21.49% after)
|Bonus category may only be changed once a year.
|The OPEN Savings benefit is built into Business Cards from American Express OPEN and provides either a 5% discount or 2 additional Membership Rewards® points for each eligible dollar spent at OPEN Savings merchants.
|Requires good/excellent credit.
Amex SimplyCash Plus Business Card Benefits
The SimplyCash® Plus Business Credit Card from American Express is the go-to card for these reasons:
- Special Introductory Rate. Save on interest with a 0% introductory APR for 15 months. After that your APR will be a variable rate of 14.49% – 21.49%.
- Up to 5% cash back. Earn 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. Then, choose a 3% on the category of your choice from a list of eight. Earn 1% cash back on other purchases.
- No annual fee.
- Amex OPEN Savings program unlocks higher earning rates or discounts at select merchants. Automatically receive 2 additional points for each eligible dollar spent. Or, earn a 5% discount as a statement credit on eligible purchases with OPEN Savings partners when you use your card.
- Amex Offers give you a series of targeted discounts and/or boosted earning rates across select merchants. Just check your account weekly and add your desired available offers to your card, and you’re on your way to saving hundreds of dollars and earning tons of extra points.
- Automatic cash back rewards to your account balance. Don’t worry about reaching a certain amount of cash or remembering to redeem points.
- Free additional employee cards to earn rewards for your account. However, make sure to set individual spending limits on each card. This’ll help you control and manage your employees’ spending.
- Shopping perks. Use your card to make eligible purchases. Enjoy purchase protection from accidental damage or theft for up to 90 days from the moment of purchase. Extended warranty gets you up to one extra year added to the original manufacturer’s warranty. Applies to warranties of 5 years or less.
- Travel perks. Use your card to pay for your rental and/or trip. Car rental loss and damage insurance cover an eligible rental car if it’s damaged or stolen. Decline the collision damage waiver at the rental car counter and receive secondary coverage (doesn’t cover include liability coverage). Travel accident insurance covers you when the unthinkable happens to you on your trip.
Amex SimplyCash Plus Business Card Pitfalls
You may not like the SimplyCash® Plus Business Credit Card from American Express due to these reasons:
- An earning cap. The 5% and 3% apply to purchases up to $50,000 each per calendar year, after reaching the cap you’ll earn 1% cash back. However that’s still a pretty decent amount of purchases which you can earn cash back on in those categories.
- A foreign transaction fee. If you’re traveling outside of the U.S., you’ll be paying 2.7% of each transaction after conversion to U.S. dollars.
- Choose only 1 of 8 bonus categories. 8 categories to pick from to get a 3% cash back bonus from is generous, so choose wisely. Depending on your spending patterns, you may go beyond the limits of this card, such as booking a flight with a travel agent and not directly from airlines.
Earning Cash Back
When you make a purchase with the SimplyCash® Plus Business Credit Card from American Express, you’ll automatically earn cash back in the form of credit to your account. You’ll earn 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. Then, you’ll earn 3% on the category of your choice. Both of these cash back offers apply on up to a maximum of $50,000 spent, then after that, you’ll be bumped down to earning just 1% cash back. You can choose from these 8 categories for your 3% cash back:
- Airfare (when purchased directly from airlines)
- Hotel stays (when booked directly through the hotel)
- Gas stations in the U.S.
- Car rentals from eligible agencies
- Restaurants in the U.S.
- Advertising in the U.S.
- Shipping in the U.S.
- Computer hardware, software, and cloud computing purchases made in the U.S. and directly with select providers
Note that you’ll want to choose your 3% rebate category within the first 2 months of card membership and check the official American Express website for limitations on the categories before you start choosing. On all other purchases, counting the categories you did not select, you’ll earn 1%.
With the SimplyCash® Plus Business Credit Card from American Express, it’s easy to maximize your rewards in one way.
Your cash back will be automatically applied as statement credit to your statement each month. That means you don’t have to worry about logging into your account, redeeming your rewards every month, going through the hassle of transferring your points into actual cash, or anything else of that sort.
If you want to see how much you’ve saved each month with your cash back, read your monthly statements or log in to your American Express account online.
American Express or Visa?
Here’s how the SimplyCash® Plus Business Credit Card from American Express stacks up against the Chase Ink Business CashSM Card, a Visa credit card also aimed to appeal small business owners.
With the American Express Blue Business CashTM Card:
Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.49% - 26.49%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
Plus, earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power§.Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
This card comes with no annual fee (See Rates & Fees).
The Ink Business Cash® Credit Card offers $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
You'll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, & 1% cash back on all other card purchases with no limit to the amount you can earn.
This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost.
If you have significant internet, cable, or landline phone expenses, the Ink Business Cash is the better small business credit card for you.
In addition, most vendors accept Visa cards, as opposed to American Express cards, especially if you deal with vendors outside of the States. However, if you plan to deal with merchants who accept American Express cards, the Amex SimplyCash Plus Business Card would best benefit you in the long run.
Both the Ink Business Cash and the SimplyCash Plus Business Card have no annual fee and offer 5% cash back at office supply stores and on cellular phone services with a cap.
The Ink Business Cash card’s 5% offer includes landline and internet services as well. But if we go down the line, the 3% category on the Amex SimplyCash Plus Business card will always outperform the Ink Business Cash card, especially since it has double the limit on its bonus categories.
The SimplyCash® Plus Business Credit Card from American Express is a great no-fee cash back credit card for business owners. Users can earn cash back on purchases at office supply stores and wireless telephone services and have the freedom to choose from select categories that are catered towards the expenses of businesses to maximize cash back.
In addition, automatic redemption means less nuisance of monitoring your rewards, and more focus on maintaining your company and its expenses. Although 5% and 3% cash back rewards apply to purchases up to $50,000 per calendar year, then goes down to 1% cash back, it’s still a pretty decent amount of purchases which you can earn cash back on in those categories.
If you’re planning to apply for this card, remember, terms and limitations apply.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.