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SimplyCash® Plus Business Credit Card: A Good Credit Card For Tech Startups

SimplyCash® Plus Business Credit Card: A Good Credit Card For Tech Startups

One of our favorite small business credit cards, especially for tech start-ups looking to save on software and hardware expenses.
Editor's Rating: 4.5/5.0
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

Editor's Rating

{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

4.5/5.0

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer.

The SimplyCash® Plus Business Credit Card from American Express is easily one of our favorite credit cards for tech companies. With no annual fee (See Rates & Fees)and rewards rates that climb as high as 3% or 5% on select categories, it’s hard to find a card that provides better dollar for dollar value.

Good For…Bad For…
  • Cash back rewards on any one of the bonus categories: hardware, software, office supplies, etc.
  • Companies with high expenditures - above $58k per year
  • Small tech startups
  • Businesses with a lot of travel expenses

Review: Is the SimplyCash® Plus Business Credit Card from American Express A Good Investment?

From a pure value perspective, the SimplyCash® Plus Business Credit Card from American Express is one of the most rewarding small business credit cards. There is no other credit card on the market that provides 5% cash back rewards on up to $50k in annual spending at no annual fee. Particularly interesting is the potential to earn 3% cash back on U.S. computer hardware, software, and cloud computing purchases made directly from select providers. Eligible providers include Apple, Newegg, Rackspace, Microsoft, and Oracle. Prior to the launch of the SimplyCash® Plus Business Credit Card from American Express, the only card to offer a 3% rewards rate on computing purchases was American Express® Business Gold Card, also from Amex. That card, however, comes with a $295 annual fee. Therefore businesses that spend less than $58,500 per year with these vendors would be better off with the SimplyCash® Plus Business Credit Card from American Express.

A graph showing the potential savings through the Amex SimplyCash® Plus credit card, given a sample annual budget.

American Express, in general, is an issuer favored by many businesses – small and corporate. Amex cards generally enjoy high praise for their customer service, and that means you can expect the same out of the SimplyCash® Plus Business Credit Card from American Express. A major downside to consider, however, is that many merchants may not accept this card. Though Amex sees big acceptance in the United States, it is not quite as widespread as VISA and Mastercard, due to the former having above average credit card processing fees.

Bottom Line: If you have business expenses that line up with the 5% and 3% categories on this card, and your annual expenditures don’t exceed $58k, this will be one of the most rewarding business credit cards you can get. At no annual fee, this is a good investment that is likely to only provide your company with a net savings – as long as you pay your bills on time and in full each month.

SimplyCash® Plus Business Credit Card from American Express Benefits & Features

The SimplyCash® Plus Business Credit Card from American Express provides businesses with cash back rewards on every dollar spent. Using the card to shop at U.S. office supply stores and wireless telephone services purchased directly from U.S. service providers generates the highest returns. In these categories, businesses can earn up to 5% back on the first $50,000 in combined purchases per year, and unlimited 1% back after that. Companies that apply for this card can also earn 3% back on up to the first $50,000 in spending per year on one of the following categories:

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

The SimplyCash® Plus Business Credit Card from American Express is one of the few products on the market that offers discounts on that last category – computer hardware, software, and cloud computing. Places such as Apple, Rackspace, and Microsoft are some of the select providers. A full list of which vendor's qualify for each category designation can be found on Amex's website. Prior to the launch of this card, the best rate you could get on these purchases was with American Express® Business Gold Card and a Capital One® flat-rate 2% cash back card – but those come with an annual fee. Tech startups and other businesses that rely heavily on technology solutions can put a decent dent in expenses by charging their expenses in that category to the SimplyCash® Plus card.

On American Express' Secure Website

SimplyCash® Plus Business Credit Card from American Express

On American Express' Secure Website
  • Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that your APR will be a variable rate, currently 14.49% - 21.49%
  • No annual fee
  • Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus take control by choosing the 3% category that best fits your business
  • Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases
  • With Expanded Buying Power you can spend beyond your credit limit* to make bigger purchases for your business plus earn cash back on those purchases too
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors
  • Terms apply
  • Special offer: save on interest with a 0% intro APR on purchases for 15 months; after that your APR will be a variable rate, currently 14.49% - 21.49%
  • No annual fee
  • Reinvest in your business with automatic cash back in the form of a monthly statement credit. Plus take control by choosing the 3% category that best fits your business
  • Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • Earn 3% cash back on the first $50,000 spent in the category of your choice from a list of eight and 1% cash back on other purchases
  • With Expanded Buying Power you can spend beyond your credit limit* to make bigger purchases for your business plus earn cash back on those purchases too
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors
  • Terms apply
Annual Fee
No annual fee
Regular APR
14.49% - 21.49% Variable
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Good, Excellent
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

No Preset Spending Limit

The SimplyCash® Plus Business Credit Card from American Express is one of the few credit cards with no preset spending limit – a feature typically found on charge cards. Having no preset limit doesn’t mean you can charge as much as you want to the card. You will still have a credit limit placed on the account, it just won’t be fixed. American Express will issue your company a limit that is based on your payment history, and your business's credit score. If you always pay off your bill in full and on time, this limit will inevitably increase allowing you to make big-ticket purchases, should the need arise.

For rates and fees of the SimplyCash® Plus Business Credit Card from American Express, please click here.

How Does The SimplyCash® Plus Business Credit Card from American Express Compare Against Other Small Business Credit Cards?

In order to walk away with the right credit card for your business, it’s necessary to comparison shop between different options. The decision as to which card will provide you with the best value cannot be made in a vacuum. In this section, we take a look at how the SimplyCash® Plus Business Credit Card from American Express preforms when compared against some of its leading competitors.

SimplyCash® Plus Business Credit Card from American Express vs Ink Business Cash℠ Credit Card

The Ink Business Cash℠ Credit Card is a solid choice if you have significant internet, cable, or landline phone expenses. The SimplyCash® Plus Business Credit Card from American Express is the card we like more in most cases, provided that the merchants you deal with accept cards on the American Express network. Both the Ink Business Cash℠ Credit Card and the SimplyCash® Plus Business Credit Card from American Express have no annual fee, and offer 5% cash back at office supply stores and on cellular phone services – up to $25k and $50k in annual spending, respectively. The Chase business credit card extends it’s 5% savings to landline, and internet services as well. Outside of that, the 3% category on the SimplyCash® Plus Business Credit Card from American Express will always outperform the Ink Business Cash℠ Credit Card, combined with the fact that it has double the limit on its bonus categories.

SimplyCash® Plus Business Credit Card from American Express vs Capital One® Spark® Cash for Business

The Capital One® Spark® Cash for Business is a more-well rounded credit card that offers unlimited 2% cash back on all the expenses your business charges to it. This can be advantageous in two scenarios – if your business has major annual expenses that exceed $206k or if the categories on the SimplyCash® Plus Business Credit Card from American Express don’t line up with your company’s vendor list. For businesses with small budgets, paying the annual fee on the Capital One® Spark® Cash for Business won’t make sense, and will result in a net loss. A noteworthy advantage of the Capital One® Spark® Cash for Business is that it comes with no foreign transaction fees, making the card perfect for business travelers who fly to Europe or even Canada.

Comments and Questions

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Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).