Last Updated 15 November 2017 | By:

American Express SimplyCash Plus Review

A Perfect Business Credit Card?

American Express SimplyCash Plus business credit cardAre you looking for a business credit card to give your company more financial flexibility? There are quite a few companies like American Express offering credit cards 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, I hope to make your decision a bit easier.

This American Express SimplyCash Plus business credit card review focuses on their pros and cons, fees and features, customer reviews and more. Are they the best card for your business?

American Express SimplyCash Plus Pros & Cons

Pros

  1. My favorite feature of the American Express SimplyCash Plus business card is their great cashback program. SimplyCash Plus offers 1% cashback on all purchases, but they have some valuable bonus categories that can make your cashback add up quickly.

    You get a whopping 5% on purchases from office supply stores and telecommunications companies, along with 3% from a category of your choosing (more on that shortly).

  2. There’s no annual fee! Some competitors charge $95 every year, so this is a major advantage for SimplyCash Plus.

  3. You can earn $200-400 in statement credits as a sign-up bonus. With SimplyCash Plus, you get $200 for spending $5,000+ in your first 6 months, and another $200 if you clear $10k in your first year.

  4. Cardholders with a strong credit history can receive an APR as low as 13.24% with SimplyCash Plus, which is a really low rate for a business credit card. On the other hand…

Cons

  1. If your credit is less than spotless, you could have an APR up to 20.24%. That’s still not a crazy-high rate, but it is definitely on the upper end of business credit card APRs.

  2. SimplyCash Plus charges 2.7% fees on all foreign transactions. Again, there are some competitors with higher rates, but some others (like Spark Cash) don’t charge fees for international purchases at all.

American Express SimplyCash Plus Fees & Features

The American Express SimplyCash Plus business credit card has no annual fee. Check out how they advertise this business card in this screengrab from their site, then we’ll dive into the details.

American Express SimplyCash Plus Fees & Features

SimplyCash Plus has an interesting setup for their cashback system. Let’s break that down, and also check in on some other crucial features of this business credit card.

  • No annual fee
  • 1% cashback on general purchases, 5% on telecommunications and office supply store purchases, 3% in your chosen category from the following options:
    • Airfare, Hotels, Car rentals, Gas stations, Restaurants, Shipping, Advertising, Computer hardware/software
  • APR based on creditworthiness: 13.24%, 18.24% or 20.24%
  • $400 in statement credit sign-up bonuses ($200 after $5k spent in first 6 months, $200 after $10k spent in first year)
  • 7% foreign transaction fee
  • Fraud protection service

As you can see, there’s a lot of value to be had here if you’re able to maximize your 3% and 5% cashback categories. I don’t know of any competitor’s credit card that offers 5% in any categories, so this really is quite impressive.

Customer Reviews

Customer ReviewsIt can sometimes be difficult to find customer feedback for specific credit cards, but that’s thankfully not the case with American Express SimplyCash Plus.

In the hundreds of reviews I was able to find, it seems that the majority of cardholders are really pleased with their SimplyCash Plus card. Their satisfied customers praise the card’s great rewards program, and also compliment the strong customer support they receive.

Customer Reviews Section Last Updated 11-14-17

Conclusion: There really aren’t any negative trends in their reviews, so overall it seems most cardholders would strongly recommend SimplyCash Plus.

How American Express SimplyCash Plus Compares

American Express SimplyCash Plus ComparisonIn all the hours I’ve spent researching business credit cards, developing a few personal favorites has been pretty unavoidable. Of course, the goal here is not to talk you into using my favorite card, but rather to help you figure out if American Express SimplyCash Plus is a good fit for your business.

SimplyCash Plus is a good business credit card, but with so many competitors in the industry, they won’t be the perfect answer for everyone. Let’s see how they compare to another strong business credit card, Capital One Spark Cash.

Fees: Capital One Spark Cash charges $95 as an annual fee, but they do waive that fee for your first year. On the other hand, American Express SimplyCash Plus does not charge an annual fee at all.

Cashback: Spark Cash gives you 2% cashback on all purchases, with no specifications or limits. SimplyCash Plus gives you 5% on telecommunications and office supply store purchases, 3% on a category of your choice, and 1% on everything else.

Bonuses: Spark Cash offers new cardholders a $500 cash bonus if you spend $4,500 in your first 3 months. SimplyCash Plus provides $200 after you spend $5k in your first 6 months, along with another $200 after spending $10k in your first year.

APR: With Spark Cash, all qualified applicants receive the same 17.99% APR. SimplyCash Plus uses a variable APR based on your credit history, and your rate will be either 13.24%, 18.24% or 20.24%.

Here’s A Quick Visual

SimplyCash Plus
  • Service Charge Starts at
    $0

  • up to 5% cash back with no annual fee

  • Perfect for:
    Anyone looking for a business credit card with variety of rewards

Visit Website
Spark Cash
  • Service Charge Starts at
    $95/year

  • unlimited 2% cashback everyday

  • Perfect for:
    Anyone looking for business credit card with unlimited rewards

Visit Website

Common Questions

Do They Provide Fraud Protection?

They sure do. If there are any suspicious charges on your account, American Express will work with you to resolve any potentially fraudulent purchases.

Is It Easy to Get Cards for My Employees?

It really is quite easy. You can get employee cards that are managed through the same online portal that your own card is on. You can review purchase histories, make payments, adjust employee card limits and much more.

Are There Any Other Special Features?

SimplyCash does have one more cool feature that I haven’t mentioned yet. With their new “Buy Above Your Credit Limit” feature, you can make larger purchases that go above your credit limit, as long as you pay off that excess balance each month. Also, you’ll receive full cashback on those purchases, just like you do on any other charge.

Should You Use American Express SimplyCash Plus?

The American Express SimplyCash Plus business credit card deserves a final score of 4.6/5 in my book. Their cashback system can provide a lot of value if you use it effectively, and there’s also no annual fee.

If you’re ready to apply for your American Express SimplyCash Plus card, or if you need some more time to look over your options, simply use the buttons below.

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