Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Card Issuers » New Business Card from Amex

New Business Card from Amex

By
Add to Favorites:
New Business Card from Amex
February
2

American Express OPEN now has a new card in their lineup – the SimplyCash Plus Business Credit Card, offering small businesses up to 5% cash back on key purchases, as well as the benefits they would normally get with a charge card, meaning they can’t go over their credit limit.

The SimplyCash Plus Business Credit Card was designed to give small businesses more purchasing options along with earning cashback.

“We consistently hear that one of small businesses’ largest challenges is managing cash flow. The SimplyCash Plus Card combines our charge and lending capabilities to provide a product that offers greater buying power to help with the ebb and flow of a small business, as well as more opportunities to earn valuable cash back even on larger business expenses,” said Audrey Hendley, senior vice president and general manager of American Express OPEN Products. “This Card empowers small businesses to quickly and seamlessly seize and fund opportunities for growth.”

Charge it and get cash back

Cardholders earn 5% cash back on purchases made at U.S. office supply stores and on wireless telephone services. They also get 3% back when dining out and pumping gas, as well as on advertising shipping, travel, and some computer/software purchases. All other purchases earn 1%.

The cap for earning bonus cash back is set at $50,000 and from that point on all purchases earn 1% back. There is no annual fee for this card.

Along with cash back the SimplyCash Plus Business Credit Card lets businesses charge over their credit limit. This feature lets them leverage their monthly spending in order to make larger purchases.

It gives them a built-in line of credit to draw from, one that also lets them earn cash back. The amount charged over their credit limit is due each month in addition to the amount due.
American Express Open is now offering the card to some small business owners, with the full rollout occurring in the spring.

Businesses need more flexibility

The American Express Open survey talked with 1,001 small business owners, with 71% saying that credit helps them grow their business, and 76% suggesting that getting an annual credit limit increase would be helpful for them.

Individuals look for credit card rewards programs, but so do businesses, according to the survey, with over three-quarters of small business owners indicating that credit card rewards are key for their businesses. And for 74% cash back trumps any other kind of rewards.

amex_news

Add to Favorites:

Related News:

The New Costco Credit Card is Coming Soon

By Dar Dowling, Posted: April 11, 2016

People with the Costco American Express cards will be receiving the new Costco Anywhere Visa credit card in late May or early June, offering up to 4% cash back. Continue reading
Small Business Saturday Spending Forecast

By Dar Dowling, Posted: November 27, 2015

Small Business Saturday is strategically sandwiched between Black Friday and Cyber Monday and people are gearing up to shop small this weekend. Continue reading
Small Business Owners Growing Their Businesses with Credit Cards

By Dar Dowling, Posted: February 24, 2016

Personal time is in short supply for owners of small businesses according to the new American Express OPEN Small Business Growth Pulse. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit