New American Express SimplyCash Business Card Offers Generous Cash Back Rebate
By Justin McHenry
If you are a small business owner, you’re going to like the sound of the new American Express SimplyCash Business Card. If you don’t own a small business, you might want to start one. At a time when many cards are scaling back their cash rebates, the just-announced SimplyCash Business Card may be offering the most generous cash back program on the market today, with a full 5% rebate on gas, office supplies and wireless charges and a full 1% on all other charges. There are no caps on rebates, and the rebates are automatically given each month as a credit on your card statement. There is no annual fee.
In addition, the American Express SimplyCash Card is offering a 0% interest rate on purchases for 12 months, and those with good credit can get an ongoing variable rate that is currently as low as 8.25%.
It will be interesting to see if American Express is able to keep this card on the market at these terms over the long haul. A number of consumer cards that used the 5%/1% cash back formula have either been pulled from the market recently or have instituted caps on earnings that diminish the initial attractiveness of their offers. American Express may be betting that the higher spending of business customers will make the generous rewards worth the cost; it would be surprising if American Express introduced a similar consumer card offer.