Review: American Express SimplyCash Business

Money Talks News

I review dozens of credit card offers each week to find the best deals. Check out more on our credit card page.

Reward credit cards almost always come with an annual fee. Sure, there are a few marginal products out there that will return a mere 1 percent cash back with no annual fee, but the card that offers valuable cash back bonuses and no annual fee is extremely rare. American Express offers its SimplyCash Business card with up to 5 percent cash back and no annual fee.

Advantages

  • Earn cash back. Five percent cash back is earned for spending at office supply stores and on U.S. wireless telephone service providers. Three percent cash back is earned from spending on gasoline at U.S. stand-alone gas stations, and 1 percent cash back is earned on all other purchases. Purchases over the $12,000 annual limit in each eligible category only earn 1%. There is no limit to the amount of cash back you can earn.
  • No annual fee. This card costs nothing the first year, and nothing after that.
  • Save money with the OPEN Savings program. This program allows businesses to save up to 10 percent on purchases from vendors like FedEx, OfficeMax, and Hertz. You can see a list of participating vendors, along with discounts, here.
  • Extended warranty protection. American Express will add one additional year to your warranty on eligible purchases up to $10,000.

Disadvantages

  • Foreign transaction fees. American Express charges a 2.7 percent foreign transaction fee on all purchases processed outside of the country. Other competing cards, such as the Chase Ink Plus, do not have this fee.
  • No sign-up bonus. Other cards promise new applicants points or miles worth hundreds of dollars, but this card has no such offer.
  • Fewer perks than other American Express cards. As a no-fee card, it makes sense that American Express would not throw in benefits like lost luggage insurance or return protection.

Bottom line

Get it if: You want to earn a lot of cash back, but you don’t want to pay an annual fee.

Forget it if: You don’t mind paying an annual fee to earn travel reward points instead of cash back.

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page.

This article was originally published on MoneyTalksNews.com as 'Review: American Express SimplyCash Business'.

More from Money Talks News

View Comments

Recommended for You

  • First lady gets resume from girl with jobless dad

    WASHINGTON (AP) — Michelle Obama's annual question-and-answer session with the children of Executive Office employees took a serious turn Thursday when a 10-year-old girl in the front row told the first lady that her dad had been out of work for three years. Then the girl popped up to hand the…

    Associated Press
  • In Disney's shadow, homeless families struggle

    KISSIMMEE, Fla. (AP) — When they moved from Georgia to the theme park playground of central Florida four years ago, Anthony and Candice Johnson found work at a barbecue restaurant and a 7-Eleven. Their combined salaries nevertheless fell short of what they needed to rent an apartment, so the couple…

    Associated Press
  • Musk’s Tesla Income Plummets 99.9% to Less Than $70,000

    Elon Musk, Tesla Motors Inc. (TSLA) ’s chief executive and one of the wealthiest U.S. entrepreneurs, saw his take-home pay from the automaker plunge by more than 99.9 percent last year after a surge in his 2012 stock options. Compensation for the leader of the youngest publicly held U.S. automaker…

    Bloomberg
  • Putin Says Visa and MasterCard Will Lose Market Share

    Russian President Vladimir Putin said Visa Inc. (V) and MasterCard Inc. (MA) will lose market share in Russia after they blocked some transactions because of U.S. sanctions on individuals and banks. “We don’t see any steps to punish unconscionable partners, but they are undermining trust, hence…

    Bloomberg
  • Here's why the biotech bounce may be short lived

    Will biotech get its mojo back or is it a dead cat bounce?

    Talking Numbers
  • Cramer: Tech stock heading to $70

    Jim Cramer looks at many metrics as he decides where to put money. And in the case of this tech firm, he's spotted something very bullish.

    CNBC
  • Why it may be time to fold on casinos

    Casino stocks have been on a winning streak. But is it time to fold them?

    Talking Numbers
  • Russia's Putin calls the Internet a 'CIA project'

    MOSCOW (AP) — President Vladimir Putin on Thursday called the Internet a CIA project and made comments about Russia's biggest search engine Yandex, sending the company's shares plummeting.

    Associated Press
  • Play

    Best Credit Card for Travel Rewards?

    WSJ travel columnist Scott McCartney discusses the new Orbitz reward credit card and others that up the ante for the travel rewards category on Lunch Break.

    WSJ Live
  • Postal workers' unions protest Staples program

    CONCORD, N.H. (AP) — Postal workers in cities big and small protested in front of Staples stores on Thursday, objecting to the U.S. Postal Service's pilot program to open counters in stores, staffed with retail employees.

    Associated Press
  • North Dakota finds more radioactive oil waste

    BISMARCK, N.D. (AP) — North Dakota confirmed Thursday the discovery of a new radioactive dump of waste from oil drilling, and separately a company hired to clean up waste found in February at another location said it removed double the amount of radioactive material originally estimated to be there.

    Associated Press
  • Business Insider
  • Buffett disapproves of Coca-Cola's pay plan

    NEW YORK (AP) — Warren Buffett criticized Coca-Cola's pay plan for its executives on Wednesday.

    Associated Press
  • Play

    Wall Street Bracing for Key Tech Earnings

    Polya Lesova takes a look at the markets, including three stocks to watch today. Photo: Andrew St. Clair for The Wall Street Journal.

    WSJ Live
  • Pros and Cons of Paying Off Your Student Loans Early

    While paying off your student loans early seems like a no-brainer, it might not always be the best financial decision. Here are some of the pros and cons to paying off your student loans early, and some tips on how to pay them off. Paying off your student loan debt early can save you a good chunk…

    The Fiscal Times
  • US oil stockpiles hit record amid production boom

    US commercial oil stockpiles hit a new record last week on the strength of continued growth in oil and gas production in the world's biggest oil-consuming country. Commercial stocks rose 3.5 million barrels to 397.7 million barrels for the week ended April 18, according to US Energy Information…

    AFP
  • United loses $609M in 1Q; fares don't cover costs

    United Airlines is the one U.S. carrier that can't seem to get its act together.

    Associated Press
  • Study: US manufacturers gaining competitiveness

    WASHINGTON (AP) — U.S. manufacturers have grown more competitive over the past decade compared with factories in China, Brazil and most of the world's other major economies.

    Associated Press
  • Amazon launches grocery service for Prime members

    NEW YORK (AP) — Amazon is taking aim at grocery stores and discounters like Wal-Mart with a grocery service that lets its Prime loyalty club members fill up to a 45-pound box with groceries and get it shipped for a flat rate of $5.99.

    Associated Press
  • Ex Wal-Mart CEO's deferred pay: $140 million

    Wal-mart CEO got $140 million in deferred pay, $20 million in stock gains

    USA TODAY