American Express Simplycash Business Card Review

American Express Simplycash Business Card Review
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The American Express Simply Cash Card was introduced for simple and affordable spending management for businesses. It offers rewards for typical business purchases. The Amex Card offers a 0% introductory interest period, and a 0% annual fee.

The card also offers a flat 2% cash back on all purchases, with no limit on the amount of cash back you can earn. There are no annual or foreign transaction fees, making it an excellent choice for international businesses. 

And, since American Express issues the card, you’ll enjoy world-class customer service if you ever need it. 

The American Express SimplyCash Card is no longer available and has been replaced with the Blue Business Cash Card.

In this American Express SimplyCash Business Card review, you’ll learn how it works, its benefits, and its drawbacks.

What is the American Express SimplyCash Business Card?

American Express SimplyCash is a prepaid card with many benefits for business owners. The card has no annual fee, and it’s accepted at several places, including popular retailers like Target and Walmart. 

Business owners can use the card to make purchases, withdraw cash, and pay bills. The SimplyCash card also offers excellent mobile app access and fraud protection features.

It is accepted at over 2 million locations worldwide. The SimplyCash card has no annual fee, and there is no need to carry extra money on you. 

American Express also offers a range of other financial products and services, including travel credits, foreign currency, and roadside assistance.

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How much money can you make with American Express SimplyCash?

That, of course, depends on your spending patterns. For example, if you spend $1,500 per month, you’ll get $225 in cash back every year, suitable for a no-fee card. It’s also simple to figure out how much you’ll collect because the earn rate is a flat 1.25 percent cash back on everything.

What is Amex SimplyCash and how do I use it?

Combining the SimplyCash card with another card is one of the most innovative ways. Let’s assume you use a CIBC Dividend Visa Infinite card* to pay for petrol and groceries because it earns 4% cash back in these categories. 

You should use the CIBC card for eating, transit, and recurring expenses because it yields 2%. All other purchases are made using the Amex SimplyCash card, which gets 1.25 percent instead of 1% with the CIBC card.

Who is the American Express SimplyCash Business Card good for?

The American Express SimplyCash Business Card is suitable for people who want to earn cash back on their business expenses. 

The simple cash Amex card offers 5% cash back on wireless telephone services, cable and satellite T.V. services, and U.S. gas stations. 

You can also earn 3% cash back in various categories, including airfare, advertising, shipping, and computer hardware and software.

Finally, you can earn 1% cash back on all other purchases. Cash back rewards are credited to your account each month and can be redeemed for statement credits or gift cards.

It can also be used as a backup card by a company owner who already has travel rewards credit card or has significant advertising expenses. 

Small business cards that provide ad spending as a bonus category, including SimplyCash Plus, all limit how much advertising you can buy with the card and still receive the bonus rate. 

You might get 3% back on purchases in the United States for advertising on specific media, up to $50,000 per calendar year. If you have a large advertising budget, you can spread the expense across several credit cards, such as the Ink Business Preferred Credit Card, and earn significant benefits.

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What are the benefits of the American Express SimplyCash Business Card?

The simple cash Amex Card is a great way to manage your money. You can use it to pay for things online or in stores. Plus, you can also use it to withdraw cash from ATMs. This makes the simple cash Amex Card a very versatile tool.

It’s one of the easiest cashback cards to use.

With a continuous 1.25 percent earn rate on everything you buy, you earn cash back according to a transparent and easy-to-understand rewards structure.

There’s no earn rate structure to consider, as with other cards’ bonus categories—just the comforting certainty that you’ll get money back every time you use the card.

Thanks to this simple format, you’ll earn on a variety of items that don’t always receive much love from other cards, such as online shopping, apparel, and gadgets. 

You can get as much cash back as you like.

There’s no cap on your annual rewards outside of the welcome gift, which is capped at $200, which isn’t true of other no-fee credit cards. As a result, your annual earnings rate will remain constant at 1.25 percent, regardless of how much you spend.

It offers a fantastic welcome package.

The earning rate with SimplyCash from American Express is more than tripled in the first three months—4% that’s cash back on everything you buy, up to a maximum of $200. 

Considering that no-fee credit cards rarely come with a welcome offer, this is a noticeable benefit.

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Once a year, you will receive cashback.

On your September statement, the only snag with Amex’s SimplyCash program is that cash rewards are only given out once a year.

There is no yearly fee or minimum income requirement.

The SimplyCash from American Express has no annual fee is its primary selling point. It is therefore absolutely free to use. As a result, instead of balancing a yearly charge, all rewards go straight into your wallet. 

Furthermore, there are no strict income requirements to be eligible for SimplyCash from Amex, making it accessible to the vast majority of Canadians. 

Are There Drawbacks?

Yes, there are drawbacks to the Simply Cash Amex card. All the 3 percent and 5 percent bonus categories on this card are for purchases made only within the United States, except for airfare purchased directly from airlines, hotel rooms purchased directly from hotels, and vehicle rentals booked directly from select car rental businesses.

You’ll also have to pay foreign transaction fees of 2.7 percent of each transaction after conversion to U.S. dollars if you use this card internationally. 

We wouldn’t recommend using this card for international purchases, and if you’re traveling abroad, opt for a card that doesn’t levy a foreign transaction fee.

You cannot convert or transfer the cash back into American Express Membership Rewards points, regardless of which other Amex credit card you have.

The Fees: what you’ll pay to use the card

The Simple Cash American Express Card is a no-frills card that offers a low annual fee and no interest in purchases for the first 12 months. 

This card is perfect for people who want to avoid interest charges and keep their expenses simple. The Simple Cash American Express Card has a $0 annual fee and no foreign transaction fees. 

It also offers a 0% APR on purchases for the first 12 months. After that, the variable APR will be between 13.49% and 23.49%, depending on your credit history. This card is excellent for people who want to avoid interest charges and keep their expenses simple.

How much can you spend and withdraw Using Simply Cash Amex Card?

If you’re looking for a business credit card with plenty of spending power, the American Express SimplyCash Business Card may be a good fit.

This card has no annual fee and offers a 0% introductory APR on purchases when your account is open for the first nine months. 

You can also earn 5% cash back on up to $10,000 in purchases made within your first six months of card membership – that’s $500 in cash back! 

After that, you’ll earn 3% cash back on all qualifying purchases. Another great perk: You can withdraw some money from eligible ATMs for up to $2,500 per day.

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How to apply for the American Express SimplyCash Business Card

To apply, visit the American Express website and complete the online application. To be eligible for this credit card, you must meet the following requirements:

  • You must be a legal resident of the United States.
  • You must be at least 18 years old.
  • Have a valid Social Security number

How to Make an Application

To apply for simple cash Amex, follow the steps below:

Step 1- 

Begin by visiting the credit card’s homepage, where you should find several details about the cash back rewards program. To continue, click the Apply button below that information.

Step 2- 

This is where you’ll need to enter your company’s details. Begin by entering your company’s email address, your legal business name, business name on the card, business address line 1, zip code, and phone number.

Step 3- 

Next, enter the industry type, company structure, years in business, annual business revenue, and estimated monthly spending for your business.

Step 4- 

In the last field, provide your Federal Tax ID. When you’re ready to move on, click continues, and you’ll be transported to the next page.

Step 5- 

This page is where you will enter your personal information. Fill in your first name, last name, home address, line 1, and Zip Code in the blanks.

Step 6- 

The next step is to provide your home phone number, social security number, total annual income, and non-taxable income.

Step 7- 

Select either business or home as the address where American Express should mail your bills. After you’ve made your decision, click “Verify Application.”

Step 8- 

At the bottom of your website, notice a window with terms and conditions. Examine this agreement to check that the interest rates, fees, and other fine print elements indicated in its contents are acceptable to you. Finally, submit your card request by selecting the Submit Application option.

Within 60 seconds of submitting your application, you will receive an approval or rejection. 

Key Features of the Simply Cash Amex Card

Here are the key features of Simply Cash Amex card:

  • $0 annual fee

0% introductory APR1 for 12 months* on purchases and balance transfers. Following the preliminary period, you can choose to carry a balance at a variable rate.

  • Promo APR will vary over time and by channel.

2% cashback up to $50K in purchases per calendar year. 1% cash back on all purchases after that. Cash Back Rewards are automatically applied as a statement credit.

With Expanded Buying Power, you can buy for your business over your credit limit without penalty and still earn cashback and rewards on those purchases. 

No calls required, no over-limit fees, and no steps to take. The amount you can spend over your credit limit changes over time and is based on how you use your card, payment history, credit record, and other factors. Any amount you spend over your credit limit is due in full at the end of the billing cycle.

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Conclusion

Simply Cash Amex card is an excellent option for businesses that want to earn cash back on their purchases. The card offers a simple and easy-to-use rewards program with no annual fees. 

Additionally, the card has a low-interest rate, making it an excellent option for businesses that need to carry a balance. So, if you’re looking for a business credit card that offers cash back rewards, the American Express SimplyCash business card is a great choice.

FAQs

What is the difference between American Express SimplyCash Business Card and a debit card?

An Amex can be a credit card or a charge card, as American Express issues both credit cards and charge cards. Popular Amex credit cards are the Blue Cash Everyday, Blue Cash Preferred and Cash Magnet cards, while popular Amex hybrid (charge) cards include Amex Platinum, Amex Gold, and Amex Green.

Who can use merican Express SimplyCash Business Card?

The American Express SimplyCash Business Card is suitable for people who want to earn cash back on their business expenses. 

Is Amex simply cash a charge card?

The SimplyCash is a credit card, not a charge card

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