SimplyCash® Plus Business Credit Card from American Express, a GET.com advertiser, is in our opinion, a smart choice of cash back credit card for businesses as it gives you the opportunity to earn up to 5% cash back, and has no annual membership fee.
The most outstanding feature of this card is that it lets you choose what purchases you will earn the highest possible cash back on. It also carries a very attractive welcome offer, and useful business benefits. So is this the best cash back credit card to get for your business? That really depends on what you spend the most on.
Here we do a detailed review of SimplyCash® Plus Business Credit Card from American Express, and take a look at how this awesome business credit card compares to other awesome business cash back credit cards.
Things We Like About SimplyCash® Plus Business Credit Card from American Express
Limited time welcome offer! This limited time welcome offer (expires 01/25/2017) lets you earn up to $500 cash back as statement credits. This is how it works, you earn a one-time $250 statement credit after spending $5,000 or more on qualifying purchases with this Card within the first 6 months of Card Membership. Plus, earn an additional $250 statement credit after spending an additional $10,000 or more in qualifying purchases within the first year of Card Membership.
No annual membership fee. Enjoy the perks of this card with no annual membership fee. That means all the cash back you earn is actually rewards, rather than just payback for the annual fee you coughed up.
The 5% cash back you earn on U.S. office supply purchases (at U.S. office supply stores) and U.S. wireless telephone services purchased directly from U.S. service providers. The only catch is that the 5% (and 3%) cash back applies to up to $50,000 of purchases per calendar year, and any amount in excess of that will earn 1% cash back. So if you spend $2,000 on office supplies and another $2,000 on wireless telephone services each month, you could have savings of $2,400 in a year! This 5% cash back feature may help your business save a lot of money if you make such purchases regularly.
You earn 3% cash back in a category you choose! You get 3% cash back for purchases made in the category of your choice, from a list of 8 select categories.
The categories you can choose from are:
- Airfare purchased directly from airlines
- Hotel stays purchased directly from hotels
- Car rentals from select major car rental companies
- Purchases at U.S. gas stations
- Restaurants in the U.S.
- U.S. advertising in select media
- U.S. shipping purchases
- Purchases made directly from U.S. computer hardware, software and cloud computing select providers
This 3% (and 5%) cash back applies to purchases up to $50,000 per calendar year. Any amount spent in excess of $50,000 will earn 1% cash back. This is an attractive feature to have, because you can choose a spending category that you spend a lot in every year and thus, by having this rebate it can help you save even more money each calendar year.
Earn 1% cash back on other eligible purchases. Cash back is earned only on eligible purchases.
Get cash back on employee cards. You can delegate your business spending by getting additional cards for your employees, and set individual spending limits on each one. You will be able to earn the same cash back on the purchases they make.
Your cash back is automatically credited to your statement. To make it as simple as possible for you, your cash back on purchases will be credited to your account as statement credit automatically each billing period. You need not remember to redeem your cash rebates or be concerned about any minimum rebate requirements.
Flexible payments. Since this is a credit card, you can choose to pay your balance in full or over time. If you don't pay in full each month, you'll have to pay interest. This flexibility is good if your business needs more time to repay your business expenses.
Purchase protection and extended warranty on eligible purchases made with your card. Purchase protection can protect eligible purchases made with your card against accidental damage and theft for up to 90 days from the date of purchase. The free extended warranty extends the term of the original manufacturer's warranty up to one more year on eligible purchases with warranties of five years or less that are eligible in the U.S.
Car rental loss and damage insurance can help you have a problem-free car rental experience when you pay with your SimplyCash® Business Card.
Travel Accident Insurance. If you pay for your tickets with this card, you can be insured, giving you peace of mind when traveling.
Baggage Insurance Plan when you pay for your travel on a Common Carrier, such as plane, bus, ship or train, with this card.
Online Year-End Summary. On January 1st, to help you better organize your accounting, taxes and budgeting for the year ahead, you will receive an online year-end summary of all your spending during the previous year.
Terms and limitations apply.
Our Least Favorite Things About SimplyCash® Plus Business Credit Card from American Express
Limits on 5% and 3% cash back categories. 5% and 3% apply to purchases up to $50,000 per calendar year, after reaching the cap you'll earn 1% cash back. Still, that's a pretty decent amount of purchases which you can earn cash back on in those categories.
How Other Cards Compare With SimplyCash® Plus Business Credit Card from American Express
Ink Cash® Business Credit Card also offers generous cash back, but doesn't let you choose a category for higher cash back. Instead, you get 5% cash back on the first $25,000 charged to this card for combined purchases at office supply stores and on internet, cellular phone, landline and cable TV services each account anniversary year. Plus you earn 2% cash back on your first $25,000 of combined purchases at gas stations and restaurants every account anniversary year and unlimited 1% cash back on all other card purchases. If your business involves a lot of spending at restaurants and gas stations, then this card can be pretty rewarding. But SimplyCash® Plus Business Credit Card from American Express gives you the freedom to choose 1 category which might make up the bulk of your spending, and earn 3% cash back on up to $50,000 per calendar year in that category. Both cards reserve the highest cash back for office supplies and telecommunications, although Ink Cash® Business Credit Card rewards you for more different kinds of telco spending. This card has a 0% intro APR for 12 months on purchases and balance transfers (13.49% - 19.49% variable APR after), which beats the intro offer you get with SimplyCash® Plus Business Credit Card from American Express (0% intro APR on purchases for 9 months with 12.49% - 19.49% variable APR after). This card has a welcome offer that lets you earn $300 bonus cash back after charging $3,000 of purchases to it in the first 3 months after account opening, which is a nice bonus for the money. But the welcome bonus you get with SimplyCash® Plus Business Credit Card from American Express is even more attractive. Like SimplyCash® Plus Business Credit Card from American Express, this card also has a $0 annual fee.
Capital One® Spark® Cash for Business is the card to use if you want to earn a good flat rate of cash back on all business spending, without categories. Using this card, you earn 2% cash back on every purchase charged to it, every day. There is not limit on the amount of spending you earn cash back on. Spark business benefits like downloadable purchase records in popular formats, $0 fraud liability for lost or stolen cards, employee cards at no additional cost and detailed quarterly and year-end summaries compare very well to SimplyCash® Plus Business Credit Card from American Express. On the flip side, this Visa card from Capital One has no introductory APR rate (the 17.24% variable APR applies from day 1), while SimplyCash® Plus Business Credit Card from American Express has a 0% intro APR on purchases for 9 months, then 12.49% - 19.49% variable APR. This card has a $0 intro annual fee for the first year, $59 after that, compared to no annual membership fee for SimplyCash® Plus Business Credit Card from American Express. This card has a huge welcome offer of a one-time $500 cash bonus, after you spend $4,500 on purchases within 3 months of approval. That's double the bonus you can get with SimplyCash® Plus Business Credit Card from American Express. If the categories offered by SimplyCash® Plus Business Credit Card from American Express don't match the bulk of your spending, or if your business expenses are very high, then this is a good card to use as long as you make your monthly repayments by the due date. But if your spending matches the categories and purchase caps offered by SimplyCash® Plus Business Credit Card from American Express, that card will probably be more rewarding.
SimplyCash® Plus Business Credit Card from American Express is a very flexible cash back business credit card which lets you choose a cash back category that best matches your business spending.
SimplyCash® Plus Business Credit Card from American Express is a business credit card to consider if you are looking for a no annual fee cash back credit card for your business in the US. It offers attractive cash back on certain categories of purchases such as office supplies, wireless telephone services and a category of your choice, and has a standard 1% cash back on other eligible purchases. Add up all the cash back and you'll end up with a smart choice for your business!
As it is a credit card with a credit limit, not a charge card, you get to build a solid credit history of your business if you pay on time each month. This card also comes with many American Express cardholder benefits such as purchase protection, extended warranty, travel accident insurance, car rental insurance, and more, all with no annual membership fee. Terms and limitations apply.
If you want to earn cash back on practically all your business spending and have the cash back credited automatically to your statement, then SimplyCash® Plus Business Credit Card from American Express is a card you may want to consider for your business.
Ivan Daniel is a writer at GET.com. Email: firstname.lastname@example.org.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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would AMEX combine report pulls if I am considering simultaneaously applying for a personal as well?
February 01 2016 at 04:52