SimplyCash® Plus Business Credit Card from American Express review | finder.com

SimplyCash® Plus Business Credit Card from American Express review – November 2018

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An excellent business card with tiered cash back of up to 5%.

30-second take

  • Get this card if you like a cash back card with no annual fee and if your business spends a lot in the categories qualifying for bonus cash back.
  • Pick something else if you want more extensive perks and benefits, you need a longer 0% APR period, you want more consistent cash back.
  • Apply with a good to excellent credit score of 670 or higher.
Product NameSimplyCash® Plus Business Credit Card from American Express
Card TypeAmerican Express
Annual Fee$0
APR (Annual Percentage Rate) for Purchases14.24%, 19.24% or 21.24% variable
Introductory Purchase APR0% for the first 9 months (then 14.24%, 19.24% or 21.24% variable)
Foreign Transaction Fee2.7% of the transaction value
Interest Free PeriodUp to 25 days
Late Payment FeeUp to $38
Returned Payment Fee$38
Rates & FeesRates & Fees
Minimum Age18 years of age
Reward Value per Dollar1% cash back
Rewards Points ExpiryNever

The basics

The SimplyCash® Plus Business Credit Card from American Express features a superb 5% cash back on office supplies and wireless services purchased at US retailers — a strong reward for small businesses and startups. A highlight among similar cards, you’ll also earn 3% cash back on purchases within a bonus category of your choosing, with the ability to change your option each calendar year.

As of this writing, categories include:

  • Airfare purchased directly from US airlines.
  • Hotel rooms booked directly with US hotels.
  • Car rentals from a select list of US providers.
  • Gas stations in the US.
  • Restaurants in the US.
  • Advertising in selected US media.
  • Shipping purchased in the US.
  • Select computer software, hardware and cloud services purchased in the US.

You’ll earn cash back in the 5% and 3% categories on up to $50,000 in combined purchases, after which each category reverts to 1% cash back for the remainder of the year.

For all other purchases, you’ll earn 1% cash back. And with no annual fee.

Another perk among similar cards: a 0% introductory APR on purchases valid for the first 9 months your account is open, reverting to a variable rate of 14.24%, 19.24% or 21.24% depending on your creditworthiness.

With this card, Amex also allows you to spend above your credit limit by an amount that’s subject to eligibility.

The perks

  • Cash back: 5% on wireless and office supplies through US providers, 3% in a bonus category and 1% on everyday spending.

    Running a business today requires more than pens and paper. Get 5% cash back on that and more at office supply stores and on wireless providers in the US and a bonus 3% cash back in a category of your choice on up to $50,000 in combined purchases each year. After that, you’ll continue to earn 1% cash back.

    For all other purchases, earn 1% — all with no cap on how much you can earn.

  • Intro APR: Save with a 0% intro APR on purchases for 9 months.

    The SimplyCash® Plus Business Credit Card from American Express offers a 0% introductory APR on purchases for the first 9 months your account is open. After, your purchase rate reverts to 14.24%, 19.24% or 21.24% variable.

  • Annual fee: $0.

    Pay no annual fee to reap rewards for as long as you own the card.

You’ll also like

  • Automatic cash back.

    Amex credits all earned rewards to your statement automatically.

  • Spend over your limit.

    Take advantage of expanded buying power on large purchases, spending over your stated limit without penalty and repaying the difference with the next month. The specific amount you’re able to spend over you limit depends on how you use your account and your overall credit.

  • Complimentary travel benefits.

    Pay for airfare with the card and get baggage insurance. You’ll also get complimentary car rental and travel accident insurance of up to $100,000.

  • American Express perks.

    Cardmembers enjoy access to Amex Offers, with some purchases qualifying for purchase protection and extended warranties.

  • $0 annual fee on employee cards.

    Get a card for every employee that needs one.

  • Management tools.

    Manage business expenses across multiple cards through the Spend Manager app, including a year-end summary and QuickBooks integration.

What to watch out for

  • Cash back categories.

    If you’re not able to take full advantage of the 5% or 3% cashback categories, this card is effectively a 1% cashback card. Other cards offer higher cash back on all purchases.

  • Cap on bonus cash back.

    The 5% and 3% cashback categories are limited to on up to $50,000 in combined spending each year, after which the card reverts to 1%. If your business charges more than $50,000 in these categories, you might find stronger rewards elsewhere.

  • Limited intro APR.

    This card’s intro APR on purchases expires after 9 months — shorter than the 12 to 15 months you’ll find with other balance transfer cards.

  • Fees on foreign transactions.

    If you use this card abroad, you’ll pay a fee of 2.7% on your purchases.

Best rewards business cards

Consider other cards if…

  • Your business expenditure is broad-based.

    Does the bulk of your business spending lie outside the bonus categories? If so, consider the Capital One® Spark® Cash for Business, which offers 2% cash back on all purchases with a $95 annual fee. Or skip the annual fee and get 1.5% cash back on purchases with the Spark® Cash Select for Business.

  • Your business requires extensive travel benefits.

    If your employees travel frequently, consider the Business Platinum Card® from American Express, which includes airline lounge access, tier status with top hotel chains and complimentary Boingo Wi-Fi.

  • You spend a lot abroad.

    You’ll pay 2.7% on transactions outside the US with this card. You can avoid this fee, and also earn 2% cash back on spending through the Capital One® Spark® Cash for Business, but you’ll pay an annual $95 fee. Spark® Miles Select for Business charges no foreign currency conversion fees and no annual fee, and offers 1.5x miles on purchases.

  • Your credit history isn’t spotless.

    Amex approval is difficult without solid credit. Instead, consider the Spark® Classic for Business, which earns 1% cash back with no annual fee or foreign transaction fees.

Top cash back business cards

Compare business credit cards

Updated November 15th, 2018
Name Product APR (Annual Percentage Rate) for Purchases Introductory Purchase APR Annual Fee
None (Charge Card)
$450
New cardholders can earn 75,000 Membership Rewards® bonus points by spending $10,000 on purchases for the first 50,000 points and then another $10,000 for the next 25,000 points on their new card in the first 3 months.
None (Charge Card)
$0 annual fee for the first year ($250 thereafter)
This charge card gives you the option to pay in full each month or to carry a balance for up to 60 days with no interest.
16.24%, 20.24% or 24.24% variable
$295
Earn Membership Rewards® points after you spend in qualifying purchases on the card within your first months of card membership.
14.24%, 19.24% or 21.24% variable
0% for the first 9 months (then 14.24%, 19.24% or 21.24% variable)
$0
Save on interest with a 0% intro APR on purchases for 9 months; after that your APR will be 14.24% - 21.24% variable.
15.24% to 21.24% variable
0% for the first 12 months (then 15.24% to 21.24% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months.
17.99% to 22.99% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.
17.99% to 24.99% variable
$0 annual fee for the first year ($99 thereafter)
75,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.
24.74% variable
$0
Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day.
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5X miles per dollar on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2 miles per dollar on every purchase, every day.
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5 cash back on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.
17.99% to 24.99% variable
$0 annual fee for the first year ($95 thereafter)
50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
17.99% to 24.99% variable
0% for the first 9 months (then 17.99% to 24.99% variable)
$99
Earn 2x points on Southwest® purchases and 1x point on all other purchases. Plus 6,000 anniversary bonus points.
17.99% to 25.99% variable
$0 annual fee for the first year ($99 thereafter)
For a limited time, earn 70,000 American Airlines AAdvantage® bonus miles after making $4,000 in purchases within the first 4 months of account opening.
13.24% to 23.24% variable
0% for the first 9 billing cycles (then 13.24% to 23.24% variable)
$0
Earn up to 3% cash back on business purchases with the Business Advantage Cash Rewards Mastercard® credit card.

Compare up to 4 providers

Best American Express Cash Back Cards — November 2018

Who is the SimplyCash® Plus Business Credit Card from American Express good for?

Bonus cashback limits on this card means that midsize and larger businesses could quickly find their purchases stuck at the fallback 1% rate. That’s because you earn 5% and 3% cash back on up to $50,000 in combined purchases for supplies and wireless services and a bonus category of your choosing, which calculates to less than $4,200 a month. For combined expenses exceeding that amount, the card reverts to 1%.

Smaller businesses might make the most of this card’s cash back constraints, not to mention no annual fee.

What to know before you apply

To apply for the SimplyCash® Plus Business Credit Card from American Express, you must be a permanent resident of the US who’s at least 18 years old. Your business must also be headquartered in the US.

Required documents and information
To apply you must be:

  • Legal business name, business address and income details
  • Federal Tax ID number
  • Your name, home address and income details
  • Your Social Security number and date of birth

What credit score do I need?

You’ll have a better chance of approval with a good to excellent credit score of 670 or higher.

What do customers say about the SimplyCash® Plus Business Credit Card from American Express?

This card earns a 4.5 out of 5 stars on American Express website, on par with other Amex business cards. Customers praise the generous cash back but caution that merchants must bill to specific categories, or you miss out on bonus rates.

That American Express isn’t always accepted at your local stores or wireless providers is also something to keep in mind.

As for American Express more generally, the company earns a 3.1 out of 10 on Trustpilot. Customers cite customer services issues that range from delays in opening an account to frustrations with refunded transactions. Others love easy access to customer service and the overall benefits that come with Amex.

How to apply for the SimplyCash® Plus Business Credit Card from American Express

  1. Find the SimplyCash® Plus Business Credit Card from American Express on the American Express site, and click Apply.
  2. Enter details about your business, including your Federal Tax ID.
  3. Enter personal contact information, your Social Security number and your income.
  4. Review and submit your application.

How long will it take to be approved?

American Express automates online approvals, which means that many applicants can see a decision in minutes. If your application requires a manual review, you might need to wait a few weeks.
Best business credit cards with 0% intro APR

I got the card. Now what?

  • Pay on time. Enroll in autopay to avoid the fee of up to $38 on late payments.
  • Pick a bonus category. Analyze your business spending and call American Express or visit the American Express website to choose the 3% bonus cashback category that best fits your needs.
  • Avoid interest. You get 25 days after the close of each billing cycle to pay off your purchases without interest.
  • Manage your finances. Install the Spend Manager app to organize transactions, upload receipts and make notes. Or integrate your account with QuickBooks.

Best fuel cards for small business

Bottom line

With no annual fee and generous cash back, the SimplyCash® Plus Business Credit Card from American Express can earn big rewards for small and medium-size businesses.

Compare this card to the many other business credit cards to find the card that best fits your business needs.

Frequently asked questions

Disclaimer

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Images: americanexpress.com

Megan Horner

As the assistant publisher of credit cards at finder.com, Megan is passionate about helping you compare and find the best credit cards for your situation, whether that is earning great rewards or improving your credit score. In her previous position, Megan worked as an assigning editor at Credit Karma, where she focused on editing and publishing educational articles on credit cards. Megan started her career as a writer at a comparison website, so she has a longstanding background in surfacing the best deals and helping people make decisions. In her spare time, Megan likes to hike, camp, surf, and read.

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