Attention business owners! If you don’t already have a business credit card, now’s the perfect time to get one. That’s because the SimplyCash Plus Business Credit Card from American Express (a NextAdvisor advertiser) just added a special bonus offer that can earn you up to $500 back – that’s up from its previous $400 bonus! Unlike most intro bonuses that allow you to earn a lump sum after spending a set amount, the SimplyCash Business Credit Card gives you two opportunities to earn $250. You’ll earn the first $250 by spending $5,000 on purchases in the first 6 months of card membership, and you’ll earn the other $250 by spending an additional $10,000 on purchases in the first year of card membership. That’s not all this top-rated business credit card has to offer. Keep reading to see if it’s the right fit for your business.

What else does the SimplyCash Plus Business Credit Card offer?

SimplyCash Plus Business Credit Card from American Express
  • Special bonus offer: Earn up to $500 cash back — get the first $250 by spending $5,000 on purchases in the first 6 months of card membership, then earn another $250 by spending an additional $10,000 on purchases in the first year.
  • Earn 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers (up to $50,000/year in purchases, then it’s 1% back).
  • Earn 3% cash back on one of the 8 categories of your choice — see the list below (up to $50,000/year in purchases, then it’s 1% back).
  • Earn 1% on all other purchases.
  • Pay no annual fee and get free employee cards.
  • Get a 9-month 0% intro APR on purchases.

As you can see from the table above, the SimplyCash Plus Business Credit Card’s special intro bonus (detailed above) is not the only thing to write home about, as it’s a well-rounded business credit card. In terms of ongoing rewards, cardholders will earn 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers (up to $50,000/year in purchases, then it’s 1% back). In addition, cardholders get to choose one category that they’ll earn 3% cash back on (up to $50,000/year in purchases, then it’s 1% back). The 8 categories you can choose from include …

  1. Airfare purchased directly from airlines
  2. Hotel stays (excluding timeshares, banquets and events)
  3. Purchases from select major car rental companies
  4. Purchases at U.S. gas stations
  5. Purchases at U.S. restaurants
  6. Purchases made in the U.S. for shipping
  7. Purchases made in the U.S. for advertising in select media
  8. Computer hardware, software and cloud computing purchases made in the U.S. directly from select providers

The ability to choose your 3% category is a major perk, as it allows you to customize your rewards toward your business. For example, if you run a brick-and-mortar shop, earning 3% cash back on all shipping purchases is huge. What’s more, you can change your category every year, which means you can update your rewards as your business needs change, a perk you don’t get with most other business credit cards. You’ll also earn 1% on all other purchases made with the card.

Annual fees are a problem of the past with the SimplyCash Plus Business Credit Card because it doesn’t have an annual fee for primary cardholders or employee cards. It also has a 9-month 0% intro APR on purchases, which gives you some time to pay off any large purchase you make with the card. It should be noted that the SimplyCash Plus Business Credit Card is available to those with good to excellent credit (usually considered a credit score of 700 or higher), and earned rewards can be redeemed for statement credit.

American Express also offers a number of perks to business credit cardholders. For example, cardholders get expanded buying power that allows them to spend above their credit limit without paying overlimit fees or having to call American Express. The amount you go over will simply be added to your minimum payment due, and you’re required to pay that off in full each month. American Express also offers a feature called Spend Manager that helps you manage your card expenses by allowing you to add receipts and notes to every transaction via American Express’ desktop site or mobile app — this feature is especially helpful if you have multiple employees using the card.

Does the SimplyCash Plus Business Credit Card have downsides?

Not really, but if we’re going to nitpick, the SimplyCash Plus Business Credit Card does charge a 2.7% foreign transaction fee, making it not the best choice for those who often travel overseas for business. If you or your employees have to travel for work, you may want to consider the Capital One Spark Miles for Business. This card has a 50,000-mile bonus — equal to $500 in travel — for cardholders who spend $4,500 on purchases within the first 3 months from account opening, and it earns an unlimited 2X miles on all purchases. While you won’t pay any foreign transaction fees, there is a $95 annual fee to consider — note that it’s waived for the first year. Prefer a card with no foreign transaction fees and no annual fee? Consider its sister card, the Capital One Spark Miles Select for Business, which has a 20,000-mile intro bonus opportunity and earns an unlimited 1.5% cash back on all purchases.

Those who have excellent credit (often considered a credit score of 750 or higher) and want a card with a 0% intro APR on both purchases and balance transfers should look into the Ink Business Cash Credit Card. Kicking things off is a 12-month 0% intro APR on purchases and balance transfers (with a $5 or 5%, whichever is greater), no annual fee and free employee cards. In terms of rewards, the Ink Business Cash Credit Card offers a $300 intro bonus to those who spend $3,000 on purchases in the first 3 months of account opening. It also earns 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, Internet and cable TV providers each account anniversary year; 2% back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year as well as 1% cash back on all other purchases. It should be noted that the Ink Business Cash Credit Card’s spending caps are lower than the SimplyCash Plus Business Credit Card’s caps, so that’s something to keep in mind.

Should you apply for the SimplyCash Plus Business Credit Card?

Business owners looking for a credit card to earn cash back on all of their business purchases will be pleased with the SimplyCash Plus Business Credit Card. The $500 special intro bonus opportunity, along with no annual fees makes this card even more intriguing.

Check out our SimplyCash Plus Business Credit Card review to learn more about the card and apply online. Also, visit our reviews of the best business credit cards to see how it compares to other top names on the market.

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 content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.