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Updated April 26, 2018

SimplyCash Plus Review: Is AMEX Card Good?

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.
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Do you want a simple way to earn cash back? 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.

7/18/2019 Update: SimplyCash® Plus Business Credit Card from American Express is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new applicants.

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 first $50,000 spent in 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

  • 0% intro APR on purchases for 15 months. After that a (See Issuer's Website) APR.

  • 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 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

With the SimplyCash Plus, you get an introductory 0% APR on purchases for the first 15 months. After that, the purchase APR will be a variable rate, currently (See Issuer's Website), 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 add 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 (See Issuer's Website) APR (there is a 0% introductory APR on purchases for the first 15 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

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:

 

Ink Business Cash

 

Interest Rates and Fees

Introductory APR for Purchases0% introductory APR for 12 months
Purchase APR15.49% to 21.49% Variable based on your creditworthiness and other factors
Balance Transfers APR15.49% to 21.49% Variable based on your creditworthiness and other factors
Annual Fee$0 annual fee
 

Benefits and Features

Cash Back DealIntroductory Bonus Cash Back: Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.
Cash BackCash Back Rewards: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone 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.
Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
GasGas Rewards: Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
RestaurantDining Rewards: Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

Ink Business Cash: Pricing information including interest rates, benefits and fees was obtained on January 22, 2019 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:

 

Blue Business Plus

 

Interest Rates and Fees

Introductory APR for Purchases0% introductory APR for 12 months
Introductory APR for Balance Transfers0% introductory APR for 12 months
Purchase APR15.49% to 21.49% Variable based on your creditworthiness and other factors
Balance Transfers APR15.49% to 21.49% Variable based on your creditworthiness and other factors
Annual Fee$0 annual fee
Terms Apply. See Rates & Fees
 

Benefits and Features

PointsPoint Rewards: Get rewarded for business as usual. Earn 2X Membership Rewards® 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.
Airline Transfer PartnersAirline 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.

7/18/2019 Update: SimplyCash® Plus Business Credit Card from American Express is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new applicants.

David R is a contributing writer at CreditDonkey, a credit card comparison and reviews website. Write to David R at davidr@creditdonkey.com

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 April 26, 2018. 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.

For rates and fees of the SimplyCash Plus card, please click here.
For rates and fees of the Blue Business Plus card, please click here.

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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Compare SimplyCash Plus to:

The Plum Card from American Express
Apply for The Plum Card from American Express
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.
  • 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 LimitCar Rental InsuranceExtended WarrantyPurchase ProtectionReturn ProtectionBaggage Insurance$0 Fraud LiabilityIdentity Theft AssistanceRoadside Assistance
Card TypeAnnual Fee
Business Charge Card
$0 introductory annual fee for the first year, then $250

Gold Delta SkyMiles Business Credit Card from American Express
Apply for Gold Delta SkyMiles Business Credit Card from American Express
At American Express' Secure Site
  • Make business travel more rewarding. Earn 30,000 bonus miles after you make $1,000 in purchases on your new Card in your first 3 months.
  • Additionally, earn a $50 statement credit after you make a Delta purchase with your new Card within your first 3 months.
  • Earn 2 Miles per dollar spent on eligible 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 when you use your American Express Delta Card.
  • 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 RewardsCar Rental InsuranceExtended WarrantyPurchase ProtectionBaggage Insurance$0 Fraud LiabilityEmergency Card Replacement Identity Theft Assistance
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
N/AN/A
17.99% - 26.99% Variable
$0 introductory annual fee for the first year, then $95

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