The American Express SimplyCash Business Card, issued by American Express (NYSE:AXP), is in our opinion, one of the best cash back credit cards for businesses as it gives you up to 5% cash back, and doesn’t have any annual fee. Here we do a detailed review of the American Express SimplyCash Business Card, in our opinion, one of the best business credit cards in the US, tell you how we rate this card and what you should watch out for!
Things We Like About This Card
No annual fee.
0% introductory APR for 9 months on your purchases. You will enjoy the benefit of having a 0% introductory APR on your purchases for a whole 9 months. After the introductory period, you will have to pay the regular variable APR of 12.24% -19.24%, depending on your business’ credit score.
Receive $250 statement credit when you spend $3,000 on qualifying purchases within the first 3 months. This is a new offer that you will only enjoy if you sign up before April 28, 2014.
Receive 5% cash back on U.S. office supply purchases (at U.S. office supply specialty retailers like Staples, etc) and U.S. wireless telephone services purchased directly from their U.S. service provider. However, there’s a catch! The 5% cash back will only apply to the first $25,000 spent per rebate year in combined purchases of these two categories, and any amount in excess of that will earn a 1% cash back. So if you spend $1,000 on office supplies and another $1,000 on wireless telephone services each month, you will have a savings of $1,200 in a year! This 5% cash back feature can help your business save a lot of money if you make such purchases regularly.
Receive 3% cash back on purchases made in the category of your choice.
The categories you can choose from are:
- Plane tickets purchased directly by airlines
- Hotel rooms purchased at hotels
- Car rentals from select major car rental companies
- US gas stations
- Restaurants in the US
- US advertising in select media
- US shipping
This 3% cash back also has a limit of $25,000 a year. Any amount in excess of $25,000 will receive a 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 every year.
Receive 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 statement each month automatically. 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 for when 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 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 flights with this card.
Year-end summary. At the end of each year, to help you better organize your accounting, taxes and budgeting for the next year, you will receive an itemized report online or by mail if you wish so, of all your spending that current year, organized by month and spending category.
Our Least Favorite Things About This Card:
Limits on 5% and 3% cash back categories. 5% cash back applies to the first $25,000 of combined office supply purchases and wireless telephone services. 3% cash back applies to the first $25,000 of your chosen category of purchases. Any amount in excess of these earn a standard 1% cash back.
To enjoy this offer you must apply before April 28, 2014. You have to apply for this card before the end of April if you want to enjoy this card with it’s offers.
The SimplyCash Business Card from American Express is a great no-fee cash back credit card for businesses issued by American Express in the US. It offers attractive cash rebates 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 purchases. Add up all these rebates and you’ll end up with many savings over a year!
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 without an annual fee. Terms and limitations apply.
If you have a business with excellent credit score, and you want to earn cash back on all your business spending, then SimplyCash Business Card from American Express might just be the card for your business.
Click here to go to American Express official website to apply online for SimplyCash Business Card from American Express now.