When you’re a small business owner, you understand the importance of smart money moves. One of those moves, for instance, is picking the right business credit card. Ideally, the card will allow you to earn cash back on the things you buy most often.
Unfortunately, many business credit cards only offer cash back in certain, “traditional” categories. If you have a unique business or work from home, you may not even spend in these typical categories (like travel expenses or postage) very often.
So, how do you find a flexible credit card that will allow you to earn in the categories where you spend the most often, maximizing your cash back rewards?
Enter the SimplyCash® Plus Business Card from American Express. This card offers healthy cash back rewards in the category of your choice, without an annual fee. New cardholders can also enjoy an introductory 0% APR.
Let’s take a look at what this business card offers and how it can help you take your company to the next level.
When you first sign up for the SimplyCash® Plus Business Card from American Express, you’ll enjoy an excellent $500 bonus offer. This bonus is earned in two segments, depending on your spending habits.
You’ll earn the first $250 after you spend $5,000 on your card in the first 6 months of card membership. The bonus will come in the form of a statement credit.
The second $250 offer is earned once you spend an additional $10,000 in qualifying purchases on your card. This can be spent at any time in the first year of card ownership, and the bonus is also applied in the form of a statement credit.
Signing up for this product as a new card holder will also net you another great bonus: an introductory purchase APR. For the first 9 months of card membership, you’ll see 0% interest on new purchases. After this 9 month period ends, your interest rate will shift to a variable rate depending on your creditworthiness.
There is no introductory balance transfer APR offer for this card at this time.
As mentioned, one of the best things about the SimplyCash® Plus Business Card is the flexibility offered in earning cash back rewards. As a card holder, you’ll be able to earn on the spending that makes the most sense for your company, instead of being bound to the categories that are just “typical” to other businesses. This means that if you’re a work-from-home freelancer who doesn’t travel much for work (like me!), you can still earn big on the things you do buy.
There are a few things that almost every business needs: phone service and office supplies of some kind. Well, with the SimplyCash® Plus, you will earn 5% cash back on these purchases. Rewards are offered for purchases made at U.S. office supply stores, as well as on wireless telephone service that is purchased directly from a U.S. service provider.
Beyond that, though, you can still earn above-average rewards on the everyday spending of your choice.
The SimplyCash® Plus Business Card also offers 3% cash back on the category of your choice.. The categories offered include airfare, hotel stays, gas, restaurants, car rentals, advertising, shipping, and computer-related expenses. There are some limitations on these expenses, so be sure to check with American Express about your unique needs.
Outside of your 5% on office supplies and wireless service, and 3% back in the category of your choice, you will also earn 1% back on every dollar spent everywhere else. The 5% and 3% cash back rewards are applied to the first $50,000 in spending each calendar year. Once you hit that limit, you will switch to earning 1% thereafter.
The SimplyCash® Plus Business Card from American Express also offers other benefits to you and your business, besides flexible cash back and an introductory purchase APR. In fact, this card is even flexible in its spending power.
If you need to make a large purchase one month that is beyond your credit limit, that’s ok! You have the ability to buy above your credit limit, spending as much as you need on the SimplyCash® Plus without any fees, advanced permission, or limit. You’ll even earn cash back on that purchase.
The only caveat is that whatever amount you spend beyond your credit limit, you’ll need to pay that back in full along with your minimum payment due, once your billing cycle ends. If you need a short term “loan” or need to make an unexpected large purchase, though, this card offers you an easy, immediate, and penalty-free option to do so.
You’ll also receive a number of automatic protections and travel benefits just for using this card. For insurance, if you use your card to reserve and pay for eligible U.S. car rentals, you’ll be covered if the car is stolen or damaged. This coverage is secondary and doesn’t include liability, but can save you a few bucks at the counter compared to purchasing the rental company’s collision damage coverage.
If you’re stuck roadside with a flat tire or run out of gas, the SimplyCash® Plus can come to your rescue. Card members have access to the American Express Roadside Assistance Hotline, which will help you get back on your way.
Lastly, you’ll benefit from a few other travel perks. If your bag is lost, stolen, or damaged while traveling – and you purchased the airfare with your SimplyCash® Plus Card – you’re covered. The baggage insurance plan covers your carry-on for up to $1,250 and your checked luggage for up to $500. Also, the card includes automatic travel accident insurance, covering you on a plane, train, ship, or bus in cash of accidental death or dismemberment. If you have purchased the entire fare with your American Express card, you’re protected with up to $100,000 in coverage.
As mentioned, there is no annual fee for the SimplyCash® Plus Business Card from American Express. This is great news for a card that is so flexible and offers such high cash back throughout the year.
There is also no overlimit fee. If you need to charge above your credit limit, or just accidentally buy more than expected, that’s ok. There are no penalties involved, you will just need to pay the overage amount in addition to your minimum payment due at the end of the billing cycle.
If you have a returned payment, there is a $38 fee. The fee for a late payment on the account is up to $38. For foreign transactions, there is also a 2.7% fee for each transaction after conversion to USD.
Who It’s For
If you’re a business owner looking for a flexible, annual fee-free card that offers excellent cash back, look no further. With the Simply Cash® Plus Business Card from American Express, you’ll earn anywhere from 1-5% back on the things you buy every single day. You can earn 3-5% back on up to $50,000 in purchases each year.
You also have the flexibility to spend above your credit limit when needed. For business owners, who may have sudden expenses that are necessary to their operations, this benefit can act as a quick, no interest loan without the hassle and limit of a bank.
There is also a 9-month introductory APR of 0% on purchases, making this card an all-around excellent choice.
- Learn more about this card and other small business credit cards