SimplyCash Plus Business Credit Card from American Express
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The SimplyCash Plus Business Credit Card from American Express 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 $500 in bonuses during the first year of account opening. Terms and limitations apply.
What’s more, you’d be hard-pressed to find another small business card that lets you customize your rewards like this one.
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.
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
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 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 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.