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Updated October 13, 2016

SimplyCash Plus Review: Is New AMEX Card Good?

Read more about SimplyCash® Plus Business Credit Card from American Express, a CreditDonkey advertiser
Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
This article contains references to products from our partners. We receive compensation if you apply through links in our content. You help support CreditDonkey by reading our website and using our links. (read more)

Do you want a simple way to earn cash back with no annual fee? True to its name, the SimplyCash® Plus Business Credit Card from American Express helps small-business owners earn cash back on purchases without having to think much about it. And they can get bonus cash back for purchases in specific categories, which we'll discuss below.

SimplyCash Plus
Apply Now

Overall Score

4.0

Rewards

4.0

Fees

4.0

Benefits

4.0
5-point scale (the higher, the better)

Pros and Cons

  • 3% cash back on the category of your choice from a list of 8 select categories
  • No annual fee
  • Bonus cash back only applies to purchases up to $50,000 per calendar year

Bottom Line

Great cash back business credit card with practical bonus categories

WHY THIS IS A GOOD DEAL

  • You can get a $200 statement credit after you spend $5,000 in qualifying purchases on your card within the first 6 months of membership.

  • Plus, you can earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your card within the first year of membership.

  • No annual fee

CASH BACK PROGRAM

Before we dive into the details, let's recap the basics:

When you make a purchase with the SimplyCash Plus business credit card, you can earn cash back. You’re automatically credited for your cash rewards in the form of a credit to your account.

You can earn extra cash back on specific categories:

  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores (until you’ve spent $50,000; then everything in these categories goes to the baseline cash back of 1%)

  • 3% on the category of your choice (on purchases up to $50,000 at 3% per calendar year, then 1% applies thereafter). Choose among the following 8 categories:

    1. Airfare purchased directly from airlines
    2. Hotel stays (excluding timeshares, banquets and events)
    3. Purchases from select major car rental companies listed at americanexpress.com/rewards-info
    4. Purchases at U.S. gas stations
    5. Purchases at U.S. restaurants
    6. Purchases made in the U.S. for shipping
    7. Purchases made in the U.S. for advertising in select media
    8. Computer hardware, software, and cloud computing purchases made in the U.S. directly from select providers

    For more details on these categories, including important terms and limitations, go to americanexpress.com/rewards-info. You’ll want to choose your 3% rebate category within the first 2 months of card membership.

  • 1% on all other purchases

What we love about this card: It gives you a choice over your rewards. For example, it can give business owners who are literally on the go an edge on their ability to collect cash rewards. The fact that "U.S. gas stations" is included as a 3% category makes it one of our favorite business gas credit cards on the market.

WHO THIS CARD IS GOOD FOR

© hydropeek (CC BY 2.0) via Flickr

  • Business owners with limited support staff: If you don’t have much in the way of administrative help, perhaps you’re better off with a credit card that will give you a decent amount of rewards but doesn’t require much in the of management. Just choose the category where a lot of your credit card spending goes, use it for office supplies and wireless charges, and let the cash back start rolling in.

  • Frequent visitors of the office supply store: You’d get 5% back on your purchases at U.S. office supply stores plus 5% back on your wireless phone services (when purchased directly from U.S. service providers), within the $50,000-a-year limit. Let’s say your business spends $800 a month at U.S. office-supply stores and $200 a month on wireless telephone services, you would earn $600 cash back each year, automatically.

  • Businesses with traveling employees: Get something in return for your employees’ travel. Select the airfare category and you can earn 3% back on airline-booked flights. Compared to other cards on the market, 3% is a decent amount and this card’s simple reward structure means you don’t have to think about how to convert miles or points. However, make sure they keep the card at home when traveling internationally, or else this SimplyCash Plus will tack on a 2.7% foreign transaction fee every time they’re entertaining clients with the card while overseas.

Why You Might Look Elsewhere

What if you’re a big spender?: Keep in mind, the bonus rate only applies to up to $50,000 of purchases made at 5% and 3% per calendar year. Once you hit a category limit, you earn only 1% for the rest of the year. You may want to consider another business credit card instead.

INTRODUCTORY APR

When you first sign up for the SimplyCash Plus, you are offered an introductory 0% APR on purchases for the first 9 months. After that, the purchase APR will be a variable rate, currently 13.24% to 20.24%, depending on your creditworthiness and other factors.

More Reasons Why You May Like This Card

  • Automatic cash back rewards: The cash back program of this card is easier to use than many reward cards. American Express automatically credits your cash back to your account balance. You don’t have to worry about reaching a certain amount of cash or remembering to redeem points to get your due.

  • Employee cards at no extra cost: You can also sign up for additional cards on your account with no annual fee. This is a useful way to give company cards to your employees and generate rewards for your account.

    Tip: If you get additional employee cards, make sure to remember to set individual spending limits on each card. That will help you control and manage your employee spending.

  • Year-end summary: Review your annual spending to help your business grow. The annual spending report helps organize spending by month and spend category to help you plan for the next year.

  • Flexibility: Since this is a credit card rather than a charge card, you can pay in full or carry a balance. If you need to carry a balance, the interest rate is 13.24% to 20.24% variable APR (there is a 0% introductory APR on purchases for the first 9 months).

  • Extended warranty: Stretch out an eligible U.S. manufacturer’s warranty by up to one year (exclusions apply).

  • Travel accident insurance: If you have a travel disaster, you could get your money back, as long as you used your card or Membership Rewards for the purchase (frequently flyer miles or another mix of payment will negate your ability to get coverage). Terms and limitations apply.

  • Car rental loss and damage insurance: Get extra coverage and avoid the extra charges when you rent an eligible car. Terms and limitations apply.

  • Purchase protection

To learn more about the SimplyCash Plus, including the online application, click here to visit American Express' secure website.

PROS

  • Earns cash back on purchases with an opportunity to earn bonus cash back in business-friendly categories like office supplies
  • No-hassle rewards; cash back is automatically credited to your account
  • No annual fee

CONS

  • Bonus cash back category has a limit of $50,000 for combined office-supply and wireless purchases
  • Choosing just 1 of 8 bonus category may be a challenge
  • Your typical spending pattern may go beyond the limits of this card (i.e., you and your employees order from a travel agent, not directly from airlines)

HOW IT COMPARES

Chase Ink: If many of your vendors don’t take American Express, then you might want to consider a Visa or MasterCard instead. Here is how the SimplyCash Plus stacks up against the Chase Ink:

 

SimplyCash Plus

Ink Business Cash

 

Interest Rates and Fees

Introductory APR for Purchases0% introductory APR on Purchases for 9 months0% introductory APR for 12 months
Introductory APR for Balance TransfersN/A0% introductory APR for 12 months
Purchase APR13.24% to 20.24% Variable based on your creditworthiness and other factors14.24% to 20.24% Variable based on your creditworthiness and other factors
Balance Transfers APRN/A14.24% to 20.24% Variable based on your creditworthiness and other factors
Annual FeeNo annual fee$0 annual fee
Terms Apply See Rates & Fees 
 

Benefits and Features

Cash Back DealIntroductory Bonus Cash Back: Special Offer: Earn up to $400 cash back
Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
Introductory Bonus Cash Back: Earn $300 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening.
Cash BackCash Back Rewards: 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. 3% on the category of your choice from a list of eight and 1% cash back on other purchases. (5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement.) Terms and limitations apply.Cash Back Rewards: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
Unlimited 1% cash back on all other card purchases.
Gas Gas Rewards: Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
Restaurant Dining Rewards: Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
DiscountDiscount: The OPEN Savings benefit is built into Business Cards from American Express OPEN and provides either a 5% discount or 2 additional Membership Rewards® points (if your card is enrolled in the Membership Rewards program) for each eligible dollar spent at OPEN Savings merchants. Terms and limitations apply. 

Ink Business Cash: Pricing information including interest rates, benefits and fees was obtained on July 17, 2017 from published websites and is believed to be accurate, but not guaranteed.

Disclaimer: The information for the Ink Business Cash Credit Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

Blue for Business: If you don't like spending categories, you might want to consider the Blue for Business instead:

 

SimplyCash Plus

Blue Business Plus

 

Interest Rates and Fees

Introductory APR for Purchases0% introductory APR on Purchases for 9 months0% introductory APR on Purchases for 15 months
Introductory APR for Balance TransfersN/A0% introductory APR on Balance Transfers for 15 months
Purchase APR13.24% to 20.24% Variable based on your creditworthiness and other factors12.24% to 20.24% Variable based on your creditworthiness and other factors
Balance Transfers APRN/A12.24% to 20.24% Variable based on your creditworthiness and other factors
Annual FeeNo annual fee$0 annual fee
Terms Apply See Rates & FeesTerms Apply See Rates & Fees
 

Benefits and Features

Cash Back DealIntroductory Bonus Cash Back: Special Offer: Earn up to $400 cash back
Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
 
Cash BackCash Back Rewards: 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. 3% on the category of your choice from a list of eight and 1% cash back on other purchases. (5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement.) Terms and limitations apply. 
Points Point Rewards: Get rewarded for business as usual. Earn 2X points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
DiscountDiscount: The OPEN Savings benefit is built into Business Cards from American Express OPEN and provides either a 5% discount or 2 additional Membership Rewards® points (if your card is enrolled in the Membership Rewards program) for each eligible dollar spent at OPEN Savings merchants. Terms and limitations apply.Discount: The OPEN Savings benefit is built into Business Cards from American Express OPEN and provides either a 5% discount or 2 additional Membership Rewards® points for each eligible dollar spent at OPEN Savings merchants. Terms and limitations apply.
Airline Transfer Partners Airline Transfer Partners: Airline transfer partners include Delta, Hawaiian Airlines, Aeromexico, Air Canada, Air France, Emirates, Cathay Pacific (Asia Miles), Virgin Atlantic, Singapore Airlines, Etihad, Alitalia, All Nippon Airways and more.

BOTTOM LINE

In our opinion, the SimplyCash Plus is a good cash back card for business owners. It earns cash back on purchases with bonuses in important business categories. We especially like the idea of automatic redemption. It takes out the hassle of monitoring your rewards.

Terms and limitations apply.

Next Step: View the issuer's official application, terms, and details

David R is a contributing writer at CreditDonkey, a credit card comparison and financial education website. Write to David R at davidr@creditdonkey.com. Our data-driven analysis has been recognized by major news outlets across the country and has helped consumers make savvy financial and lifestyle decisions. (read more)

Editorial Note: This content is not provided by American Express. 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 American Express. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: This content was first published on April 6, 2012. This content may have been updated on October 13, 2016. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check American Express website for updated information.

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. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: The information for the Ink Business Cash Credit Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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SimplyCash Plus Business Credit Card from American Express
Apply for SimplyCash Plus Business Credit Card from American Express
At American Express' Secure Site
  • Special Offer: Earn up to $400 cash back
  • Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
  • Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
  • No Annual Fee. Plus, more buying power and more cash back. Get cash back on business purchases, even those above your credit limit.
  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • 3% on the category of your choice from a list of eight and 1% cash back on other purchases.
  • 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement.
  • Terms and limitations apply
  • See Rates & Fees
  • Go to issuer's official application, terms, and details
Introductory Bonus Cash BackCash Back RewardsOffice RewardsDiscountCar Rental InsuranceExtended WarrantyPurchase ProtectionBaggage Insurance$0 Fraud Liability
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
0% on Purchases for 9 months
N/A
13.24% - 20.24% Variable
No annual fee

Compare SimplyCash Plus to:

Compare SimplyCash Plus vs American Express Plum Card
Apply for The Plum Card from American Express OPEN
At American Express' Secure Site
  • Paying early pays off: Get a 1.5% discount when you pay early, with no cap on what you can earn back.
  • Take up to 60 days to pay with no interest, if you pay your minimum due.
  • Use the power of the Plum Card to buy big for your business.
  • Unlock new opportunities with a spending limit that can grow with your business.
  • Additional Employee Cards at no annual fee - and an early pay discount on employee spending.
  • No Foreign Transaction Fees.
  • Introductory annual fee of $0 for the first year, then $250
  • Terms & Restrictions Apply. See Rates & Fees
No Pre-Set Spending LimitDiscountCar Rental InsuranceExtended WarrantyPurchase ProtectionReturn ProtectionBaggage Insurance$0 Fraud LiabilityIdentity Theft Assistance Roadside Assistance
Card TypeAnnual Fee
Business Charge Card
$0 introductory annual fee for the first year, then $250

Compare SimplyCash Plus vs Gold Delta SkyMiles Business Credit Card
Apply for Gold Delta SkyMiles Business Credit Card from American Express
At American Express' Secure Site
  • Limited Time Offer: Earn 50,000 bonus miles after you spend $2,000 in purchases with your new Card in the 1st 3 months and a $50 statement credit after you make a Delta purchase with your new Card in your 1st 3 months.
  • Plus, earn an additional 10,000 bonus miles after you make an additional $1,000 in purchases within your first 6 months. Offer expires on 11/8/2017.
  • Earn 2 Miles per dollar spent on purchases made directly with Delta. Earn 1 mile on every eligible dollar spent on purchases.
  • Settle into your seat sooner with Priority Boarding and enjoy 20% savings on eligible in-flight purchases in the form of a statement credit.
  • Pay no foreign transaction fees when you spend overseas.
  • $0 introductory annual fee for the first year, then $95.
  • Terms and limitations apply
  • See Rates & Fees
Introductory Bonus Airline RewardsAirline RewardsNo Limits on RewardsDiscountCar Rental InsuranceExtended WarrantyPurchase ProtectionBaggage InsuranceTravel Accident Insurance $0 Fraud LiabilityEmergency Card ReplacementIdentity Theft Assistance
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
16.24% - 20.24% Variable
$0 introductory annual fee for the first year, then $95

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