American Express SimplyCash Plus Business Credit Card

Nov 07, 2023 By Triston Martin

There are two key ways in which the American Express SimplyCash Plus Business Credit Card differentiates from the company's other business credit cards: The card has no annual fee and offers cash-back benefits rather than Membership Rewards points.

However, SimplyCash Plus does meet the needs of small company owners who would rather receive cash back on office supply purchases than accumulate points or miles, which may be disappointing to those who prefer the rewards structure of other credit cards. Let's analyze the card's advantages and disadvantages.

Whose Name Is This Card In?

The greatest bonus category is for office supplies and wireless telephone services, suggesting that this card is aimed at small firms that don't travel much. Users may receive a respectable rate of return on trip expenses such as airfare, lodging, and transportation.

Let's assume that this card is intended for the frugal business traveler with many office supply demands. If a company's owner already possesses a credit card with travel perks or an advertising rewards program, this card can be used as a backup.

Every small business credit card, including SimplyCash Plus, which has advertising purchases as a bonus category, also has a maximum monthly advertising purchase amount before the bonus rate begins to phase off and american express simplycash plus business card review.

Bonuses Upon Arrival

Although American Express periodically gives a welcome bonus with this card, the issuer is giving an extended introductory APR deal in place of a few hundred dollars in cash back after satisfying spending conditions within the first few months of card possession.

For the first 15 months after opening a SimplyCash Plus account, the annual percentage rate will be 0%. After that, it will range from 14.49% to 21.49%, depending on your credit.

Earning

The SimplyCash Plus program provides two extra reward tiers, and you can customize which purchases earn the most cash back. Get 5% cash back on purchases up to $50,000 made at US office supply retailers and wireless telephone services purchased directly from US service providers in a calendar year, and 1% cash back on purchases over that amount. No wireless hardware or equipment purchases or office supplies made at any other retail establishment will qualify for the incentive.

Redeeming

Unlike other credit cards, you don't have to do anything special to receive your rewards as a statement credit. Your account will be credited with the cash back on the subsequent billing statement after the billing statement containing the qualifying purchases.

Suppose your minimum payment is received after the end of the billing month. In that case, it is due, or if you or American Express close your account before the credit is provided, American Express will not release your rewards.

Perks

You wouldn't expect premium travel features like lounge access or TSA PreCheck reimbursement from a card like SimplyCash Plus because it isn't mainly a travel rewards card and american express simplycash plus card. However, the card does provide a variety of insurance perks for international travel, such as:

Baggage Insurance

If you use your credit card to pay for your airfare, rail, ship, or bus ticket, you'll be covered if your checked bags are lost, damaged, or stolen. This supplemental coverage from Amex will help pay for any damages beyond what your primary insurance policy covers. Carry-on items are insured for up to $1,250, whereas checked bags can only get up to $500.

Travel Accident Insurance

It covers you for accidental death and dismemberment up to the purchase price when you bill the whole cost of your trip on a common carrier to your credit card.

SimplyCash Plus Competitors

Because SimplyCash Plus is a cash-back business credit card, we may evaluate it about other cards that provide comparable rewards: Company Cash Advance Credit Card — Ink Get 5% back on office supplies and internet, cable, and phone services, 2% back on petrol and dining and 1% back on everything else and simplycash plus business credit card from american express.

There are no yearly costs. When combined with another Chase card that earns Ultimate Rewards points, like the Sapphire Preferred or Ink Business Preferred, the value of the card's rewards may skyrocket. The current value of a single UR point is 2.1 cents, as calculated by TPG.

Bottom Line

SimplyCash Plus is different than the card for you if you want rewards that can be transferred to other programs. This is different from the credit card for you if you're hoping to earn significant points on your trip purchases.

SimplyCash can be a beneficial card for you if you have substantial spending in one of the eight secondary areas that yield 3% and if you are okay with cashback and would prefer not having to think about when or how to redeem.n before selecting which is best for you financially.

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