Flexible Earning Power for Small Businesses - Products News

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Credit Card Applications » News » Products » Flexible Earning Power for Small Businesses

Flexible Earning Power for Small Businesses

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American Express has given the OPEN Enhanced SimplyCash business credit card a boost in reward earning power. It now allows small business owners to earn 3% cash back in one of seven business categories. The category can be changed annually.

Cardholders also earn 5% cash back when buying office supplies and wireless phone service, as well as 1% cash back on all other purchases.

Flexibility is King

Business needs can change depending upon a company’s focus and stage of development. Sometimes there may be more travel required, while at another stage advertising might be critical. With this new upgrade, cardholders can choose to earn 3% cash back in the category that suits their annual goals, including:

  • Flights booked through an airline

  • Guest rooms booked through a hotel

  • Car rentals (at select providers)

  • Purchases made at gas stations

  • Dining out in restaurants

  • Advertising

  • Shipping

With the exception of flights, hotel rooms and car rentals all other purchases must be made within the U.S. to be eligible. Members can earn bonus cash back rewards on up to $25,000 a year. From that point on they earn 1% cash back on all categories of spending.

New members can also earn a $250 statement credit once they spend $3,000 within the first 90 days of membership. To take part in this promotion, applications must be approved by April 28.

Additional benefits include:

  • ReceiptMatch: a mobile tool that members can use to reconcile images of receipts virtually with online transactions to reduce paperwork in real time.

  • Spending Limits and Alerts: businesses can customize spending limits on credit cards held by their employees, while being alerted when the card reaches its limit.

  • Account Manager: allows owners or employees to manage the account during the month, so they can make payments and/or review statements.

  • Year End Summary: tracks expenses in key areas.

  • Download Activity: expenses can be downloaded and used in accounting software.

American Express OPEN issues credit cards especially designed for small businesses located within the United States.

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