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The SimplyCash® Business Card from American Express was last reviewed on 3rd May 2008
Summary - The SimplyCash® Business Card from American Express is the latest business cash back credit card from American Express and is in our opinion, perhaps the best business cash back credit card today. This card allows you to earn
5% rebates for purchases of wireless telephone services, office supplies and equipment
and 3% rebates on gasoline for up to $12,000 in annual
gasoline spending. You will also get savings when you make purchases at OPENSAVINGs merchants. For other purchases you will earn 1% cash rebates. Let's find out more about this card.
Cash Rebate Formula - The SimplyCash® Business Card from American Express allows you to earn
5% rebates when you make purchases for wireless telephone services, office supplies and equipment.
You will earn 3% rebates on gasoline purchases for up to
$12,000 in annual gasoline spending. You will earn 1% rebates for all other purchases. You will also get discounts from OPENSAVINGs merchant partners, which include AT&T Fedex, Hyatt. Cash rebates are automatically credited into your next statement. You can earn unlimited rebates.
Fees and APR - There is no annual fee or additional card fee. There is a 0% APR on purchases for 12 months and a fixed 7.99% APR on balance transfer for the life of the transfer if it is transferred within 6 months. The APR ranges from prime rate plus 3.99%, 6.99% or 9.99%. The average daily balance method is used to calculate monthly balances and the grace period is 25 days.
Other Benefits - The American Express Simply Cash Business Card also gives cardholders the following benefits.
1. Purchase Protection Plan - under this plan, you can return any purchase you make if it is accidentally damaged within 90 days.
2. Travel Insurance - American Express provides accidental travel insurance for all cardholders.
3. Online Management - You can manage your account with Summary of Accounts and track charges with Expense Management Reports.
4. Online Business Community - Allows you to chat, pose questions, get insights from other small business owners, and attract new business.
5. Seek Business Advice - You can ask an expert a question, use an online tool, and read articles by other business owners.
Verdict - We highly recommend the SimplyCash® Business Card from American Express to the small business owner who is looking for a cash rebate credit card.
Positives
Earn unlimited cash rebatesNo annual fee0% apr on purchases for 12 monthsNo additional card fee25 days of grace period
| SimplyCash® Business Card from American Express |
| Reward Benefits |
| Cash Rebate Formula |
Earn 5% rebates for purchases of wireless telephone services, and office supplies and equipment
Earn 3% rebates on gasoline purchases for up to $12,000 in annual spending
Earn 1% rebates on other purchases |
| Cost/Fees/Interest rates |
| Introductory rate |
0% apr on purchases for 12 months
7.99% on balance transfer for life |
| Annual Fee |
No annual fee |
| Purchase APR |
Prime Rate plus 3.99%, 6.99% or 9.99% |
| Cash Advance APR |
Prime Rate plus 14.99% |
| Penalty/Default Rate APR |
Prime Rate plus 15.99% or 21.99% |
| Min Finance Charge |
$0.50 |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
No balance transfer fee during introductory offer |
| Cash Advance fee |
3%, min $5.00 |
| Over-the-credit-limit fee |
$35.00 |
| Late Payment fee |
$15.00 - less than $100
$29.00 - between $100.00 to $1000.00
$35.00 - greater than $1000.00 |
Apply for the SimplyCash® Business Card from American Express
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