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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 the best small business credit cards, especially for tech start-ups looking to save on software and hardware expenses.
Editor's Rating: 4.5/5.0

Editor's Rating

4.5/5.0

The SimplyCash® Plus Business credit card is easily one of the best small business credit cards to have, especially if you are a tech company. With no annual fee 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 best 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 card, 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 $175 annual fee. Therefore businesses that spend less than $58,500 per year with these vendors would be better off with the SimplyCash® Plus.

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 Benefits & Features

The SimplyCash® Plus Business card 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 credit card 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.

SimplyCash® Plus Business Credit Card from American Express
Annual Fee
$0
Purchase APR
14.24% - 21.24% Variable
Credit Needed Excellent Credit
Details
  • 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 14.24% - 21.24%
  • 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
  • See Rates & Fees

No Preset Spending Limit

The SimplyCash® Plus card 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.

How Does The Amex SimplyCash® Plus Card Compare Against Other Small Business Credit Cards?

In order to walk away with the best 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 Amex SimplyCash® Plus preforms when compared against some of its leading competitors.

Amex SimplyCash® Plus vs Ink Business Cash℠ Credit Card

The Ink Business Cash℠ Credit Card is the better small business credit card only if you have significant internet, cable, or landline phone expenses. The SimplyCash® Plus Business Credit Card from American Express is the superior card in most other aspects, 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.

Amex SimplyCash® Plus 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® small business credit card 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. If you wanted to use your Amex SimplyCash® Plus card outside of the U.S. you would be hit with a 2.7% fee each time.

Comments and Questions

Opinions, analyses, reviews, or recommendations expressed here are the author's alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer's Affiliate Program. For a full list of our advertisers see our disclosure page

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Info about the following cards: Premier Rewards Gold Card from American Express, Delta Reserve® Credit Card from American Express, Platinum Delta SkyMiles® Credit Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Amex EveryDay® Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, Starwood Preferred Guest® American Express Luxury Card, and Amazon Business American Express Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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® Card 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).