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An excellent business card with tiered cash back of up to 5%.
- 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 Name | SimplyCash® Plus Business Credit Card from American Express |
|---|---|
| Card Type | American Express |
| Annual Fee | $0 |
| Purchase APR | 14.49%, 19.49% or 21.49% variable |
| Intro Purchase APR | 0% for the first 15 months (then 14.49%, 19.49% or 21.49% variable) |
| Intro Balance Transfer APR | N/A |
| Foreign Transaction Fee | 2.7% of the transaction value |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $38 |
| Returned Payment Fee | Up to $38 |
| Rates & Fees | Rates & Fees |
| Minimum Age | 18 years of age |
|---|
| Rewards | 5% back at US office supply stores and on US wireless telephone services on up to $50,000 annually (then 1%). 3% on a chosen category on up to $50,000 annually, then 1% after and on everything else |
|---|---|
| Base Rewards | 1% cash back |
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 on up to 50,000 in purchases each year, then 1%. This is 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 on up to $50,000 in annual purchases and 1% after, 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.
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 15 months your account is open, reverting to a variable rate of 14.49%, 19.49% or 21.49% depending on your creditworthiness (see Rates & Fees).
With this card, Amex also allows you to spend above your credit limit by an amount that’s subject to eligibility.
The perks
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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 US office supply stores and on wireless providers in the US on up to 50,000 in purchases annually, then 1%. You’ll also earn 3% cash back in a category of your choice on up to $50,000 in 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.
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Intro APR: Save with a 0% intro APR on purchases for 15 months.
The SimplyCash® Plus Business Credit Card from American Express offers a 0% introductory APR on purchases for the first 15 months your account is open. After, your purchase rate reverts to 14.49%, 19.49% or 21.49% variable.
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Annual fee: $0.
Pay no annual fee to reap rewards for as long as you own the card.
You’ll also like
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Automatic cash back.
Amex credits all earned rewards to your statement automatically.
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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.
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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.
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American Express perks.
Cardmembers enjoy access to Amex Offers, with some purchases qualifying for purchase protection and extended warranties.
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$0 annual fee on employee cards.
Get a card for every employee that needs one.
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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
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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.
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Fees on foreign transactions.
If you use this card abroad, you’ll pay a fee of 2.7% on your purchases.
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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.
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
- Click apply now.
- Enter details about your business, including your Federal Tax ID.
- Enter personal contact information, your Social Security number and your income.
- 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.
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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.
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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.
Rates and fees
Images: americanexpress.com
