American Express SimplyCash Plus Review
A Perfect Business Credit Card?
Last Updated: By TRUiC Team
Are you looking for a credit card to give your business more financial flexibility? Tons of companies offer credit cards designed for business owners, so how do you figure out which one you should use?
To complement your own research, my team and I reviewed the details of every major business credit card. By sharing this information with you, we hope to make your decision significantly easier.
In this American Express SimplyCash Plus business credit card review, we'll go over pros and cons, fees and features, customer reviews and more. Are they the best card for your business?
Recommended: Read our review of the best business credit cards.
Pros & Cons of American Express SimplyCash Plus
Pros of American Express SimplyCash Plus
- My favorite feature of American Express SimplyCash Plus is its generous cash-back program. SimplyCash Plus offers 1% cash back on all purchases, and a whopping 5% on purchases from office supply stores and telecommunications companies. You'll also get 3% cash back on a category of your choosing (more on this later).
- There’s no annual fee! Some competitors charge cardholders nearly $100 every year, so this is a major advantage for SimplyCash Plus.
- With SimplyCash Plus, you'll get $200 in statement credit for spending $5,000+ in your first 6 months, and another $200 if you clear $10k in your first year.
Cons of American Express SimplyCash Plus
- SimplyCash Plus charges a 2.7% fee on all foreign transactions. Some competitors (like Spark Cash) don’t charge for international purchases at all.
American Express SimplyCash Plus earns a final score of 4.6/5 in my book. There's no annual fee, and the cash-back system can offer a lot of value if you use it effectively. If you’re ready to apply for an American Express SimplyCash Plus card, or if you need some more time to look over your options, simply use the buttons below.
American Express SimplyCash Plus Fees & Features
As I mentioned, SimplyCash Plus uses an interesting cash-back system. We'll break it down in more detail below, and also go over some other crucial features of the card.
- No annual fee
- 1% cash back on general purchases, 5% on telecommunications and office supply store purchases, and 3% in one of the following categories:
- Airfare, hotels, car rentals, gas stations, restaurants, shipping, advertising, computer hardware/software
- Up to $400 statement credit as a sign-up bonus ($200 after $5k spent in first 6 months, $200 after $10k spent in first year)
- 2.7% foreign transaction fee
- Fraud protection service
As you can see, there's a ton of value to be had if you know how to take advantage of the 3% and 5% cash-back categories. I don’t know of any competing card that offers 5% in any category, so this really is quite impressive.
Customer Reviews
Usually, it's difficult to find customer feedback for specific credit cards on third-party review sites, but thankfully that's not the case with SimplyCash Plus.
Based on the hundreds of reviews I found, it seems that the majority of cardholders are really pleased with their SimplyCash Plus cards. Most of the reviews praise the card’s great rewards program and American Express' excellent customer support.
- WalletHub: 4.0/5, 414 reviews
- AmericanExpress.com: 4.5/5, 25 reviews
Customer Reviews Section Last Updated 11-14-17
Conclusion:Although the ratings aren't 100% perfect, there really aren’t any negative trends throughout these reviews. Overall it seems most cardholders would strongly recommend SimplyCash Plus.
How American Express SimplyCash Plus Compares
We think SimplyCash Plus is a great business credit card, but with so many competitors in this industry, it's certainly not the perfect solution for every entrepreneur. Let’s see how it compares to another popular business credit card, Capital One Spark Cash.
Fees: Capital One Spark Cash charges a $95 annual fee, although they do waive it for your first year. On the other hand, American Express SimplyCash Plus doesn't charge an annual fee at all.
Cashback: Spark Cash offers 2% cash back on all purchases, with no specifications or limits. SimplyCash Plus gives you 5% on telecommunications and office supply purchases, 3% on a category of your choice, and 1% on everything else.
Bonuses: Spark Cash offers a $500 cash bonus if you spend $4,500 in your first 3 months. SimplyCash Plus offers $200 in statement credit after you spend $5k in your first 6 months, and another $200 after spending $10k in your first year.
Here's A Quick Visual
SimplyCash Plus
Service Charge of $0
up to 5% cash back with no annual fee
Perfect for: Anyone looking for a business credit card with generous variable rewards
Spark Cash
Service Charge of $95/year
2% cash back on all purchases
Perfect for: Anyone looking for a business credit card with flat unlimited rewards
Frequently Asked Questions
Do They Provide Fraud Protection?
They sure do. If there are any fraudulent charges on your account, American Express will work with you to make sure the issue gets resolved.
Is It Easy to Get Cards for My Employees?
Yep. You can manage your employee cards (review purchase histories, make payments, adjust credit limits etc.) through the same online portal that your own card is on.
Are There Any Other Special Features?
With their new “Buy Above Your Credit Limit” feature, you can make purchases that exceed your credit limit as long as you pay off the excess balance each month. You’ll even receive full cash back on those purchases!
Should You Use American Express SimplyCash Plus?
American Express SimplyCash Plus earns a final score of 4.6/5 in my book. There's no annual fee, and the cash-back system can offer a lot of value if you use it effectively. To see more options, check out our Best Business Credit Cards.