SimplyCash® Business Card From American Express

simplycash business credit card from American Express OPENToday’s we’re reviewing the SimplyCash® Business Card From American Express. As a rule of thumb, any credit card that offers 5% cash back in any category is going to at least merit careful scrutiny, since such high payouts are exceedingly rare. For those looking for a quick highlight, I’d say the SimplyCash Business credit card would make an excellent addition to a portfolio of credit cards designed to max out across all major rewards categories. It should be considered a strong supporting cast member, versus the leading star.

Summary of SimplyCash Business Credit Card Benefits

Rewards 5% cash back at office supply stores and on your wireless phone bills; 3% cash back at gas stations, and 1% cash back on all other purchases.
Rewards Caps Bonus rewards are capped at $12K in spend of the bonus spend categories (office supply, wireless, and gas) after which you would earn 1% cash back in those categories.
Sign-up Bonus None
Annual Fee None
Foreign Transaction Fee 2.7% of purchases after converting to USD

Earning Rewards

Clearly, for small businesses, earning 5% cash back at office supply stores can come in quite handy. Especially when you consider that some office supply purchases can be quite large (photocopiers, fax machines, computers, etc). The 3% cash back for gas purchases made at U.S. stand-alone gas stations is also a nice bonus.

The wireless bonus is excellent. A family of 3 or 4 folks can easily be spending $200 per month on wireless services, or $2,400 per year. At 5% cash back, that’s a cool $120 earned, with no annual fees on the card. Of course, if you actually own a small business, your wireless bill could be much higher.

Rewards Caps

Interestingly, the SimplyCash Business card does have rewards caps, but fortunately these caps are quite high. You are limited to $12K per year in spend in each reward category, after which you will only earn the standard 1% cash back in that given category.

If you are running a very small business, or just using the card for personal use, then you are unlikely to hit the $12K cap on any of the bonus categories. If you have several employees, then it is possible you’ll hit the caps. You can use the PIQ Ranking Engine (found from our homepage) to assess how your spending will impact rewards generated from this card.

Redeeming Your Cash Back

There’s not much to talk about here. Every month your rewards, in the form of cash back, are automatically applied to your credit card statement. That is simple.

Additional Benefits

True to form, the SImplyCash Business Credit Card from American Express comes with a suite of benefits:

  • Purchase protection: protect eligible purchases for up to 90 days from date of purchase in case of theft or accidental damage.
  • Extended warranty: can mirror original manufacturer’s warranty for up to 1 additional year.
  • Car rental loss and damage insurance: provides coverage at no additional cost.

PIQ’s Final Thoughts On SimplyCash For Business

The high rewards in specific rewards categories, coupled with the $0 annual fee, make this card an excellent addition to an overall credit card portfolio. If you’re just using the card for personal use, or a very small business, you needn’t worry about the rewards caps either. SimplyCash for Business gets 2 thumbs up from the PIQ team. Rock on.

You can apply for the SimplyCash® Business Card From American Express here.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.