SimplyCash Plus Business Credit Card from American Express

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A really great card for a new business with big spending on technology.

Advertiser Disclosure: This post contains references to products from one or more of our advertising partners.

The SimplyCash Plus Business credit card is among our favorite business rewards credit cards. It offers up to 5% cash back rewards and charges no annual fee. Cardholders also could earn up to $400 in bonuses during the first year of account opening.

What’s more, you’d be hard-pressed to find another small business card that lets you customize your rewards like this one.

Review

In just about every respect, this card stands tall among the elite business cards on the market.

For start-ups that know they’ll need a slew of things to get going, the rewards on business spending categories can add up to significant savings.

You’ll earn 5% back on purchases made in the following categories combined: U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers (on up to $50,000 in purchases per year, then 1% on purchases made thereafter).

You’ll also earn 3% cash back from your choice of one of eight categories:

  • Airfare purchased directly from airlines.
  • Hotel rooms purchased directly from hotels.
  • Car rentals purchased from select car rental companies.
  • U.S. gas stations.
  • U.S. restaurants.
  • U.S. purchases for advertising on select media.
  • U.S. purchases for shipping.
  • U.S. computer hardware, software, and cloud computing purchases made directly from select providers.

All other purchases earn 1% cash back. Terms apply.

The only reasons to shy away from this card would be if your work requires significant overseas travel or if your biggest expenses don’t match up with the bigger cash-back savings categories.

Who should get this card

If you own a small business and spend heavily in the categories in which SimplyCash Plus offers the greatest rewards, this is an ideal card to own. If your expenses in these categories exceed $50,000 annually, though, you may find other business cards better suit your needs.

Advantages
  • Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your card within the first six months. Earn an additional $200 credit after you spend an additional $10,000 in qualifying purchases within the first year.
  • Strong rewards program allows you to earn cash back on common business spending categories.
  • There's no annual fee.
  • Terms apply.
Disadvantages
  • The foreign transaction fee (2.7%) makes this card a poor choice for international travel or purchases.
  • The categories offering higher rewards may not be a fit for your spending patterns.

Fees and APR

  • You’ll pay no annual fee.
  • This card charges a 2.7% foreign transaction fee on all purchases made outside the United States.
  • See Rates & Fees.

Extras, perks and using rewards

This card allows you to spend above your credit limit and still earn rewards on that amount.

You can get additional employee cards at no extra cost.

The cash back you earn is automatically credited to your statement.

You can earn 5% cash back on eligible purchases with OPEN Savings partners. It’s a nice perk, but we wish more vendors participated.

How this card compares

Ink Cash® Business Credit Card
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
  • Earn 1% cash back on all other purchases—with no limit to the amount you can earn.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our business category page.

Credit Needed

Excellent

Regular APR

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

If you’re just starting out and you aren’t sure what your spending patterns will be, the Ink Cash Business Credit Card is like a small rectangular mentor. The no-fee card will reward you for spending in the areas you’ll most likely need to get your business off the ground and gives you a full year break on interest for purchases and balance transfers. Who couldn’t use a little breathing room when launching a new venture?

Capital One® Spark® Cash for Business
  • Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
  • Use Spark Cash across all your business spend, with no categories to limit your purchasing
  • $0 intro annual fee for the first year; $95 after that
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend
Credit Needed

Excellent

Regular APR

17.99% (Variable)

Annual Fee

$0 intro for first year; $95 after that

Purchase Intro APR

N/A

Balance Transfers Intro APR

N/A

Capital One Spark Cash for Business ranks among the best business rewards credit cards on the market, edging out other business cards – including those offered by Capital One — because of its rewards flexibility.

We love that this card pays the same flat rewards rate on cards issued to employees as those issued to the business owner. Plus, employee cards come with no annual fee. Capital One waives the annual fee for the first year on the owner’s card. You’ll pay $59 a year thereafter, which is fairly low given the rewards value.

The Business Gold Rewards Card from American Express OPEN
  • Welcome Offer: Earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership
  • Get 3x points - Choose 1 out of 5 categories
  • Plus, 2X points on the 4 remaining categories and 1X points on other purchases
  • 3X and 2X apply to the first $100,000 in purchases in each of the 5 categories per year, 1X point per dollar thereafter
  • Track, organize, and stay on top of your business expenses with powerful expense-tracking tools
  • No foreign transaction fees
  • $0 introductory annual fee for the first year, then $175
  • Terms and limitations apply
  • See Rates & Fees
Credit Needed

Excellent

Regular APR

N/A

Annual Fee

$0 introductory annual fee for the first year, then $175

Purchase Intro APR

N/A

Balance Transfers Intro APR

N/A

The unique choose-your-own-bonus structure of The Business Gold Rewards Card from American Express OPEN is extremely appealing. In short, it allows you to earn the most rewards in the category where you spend the most. This charge card is ideal for small businesses that plan to put less than $100,000 a year on plastic.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.