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Update: This offer for SimplyCash® Plus Business Credit Card from American Express OPEN is expired. Learn more about the best available offer here.
Update: This offer for The Business Gold Rewards Card from American Express OPEN is expired, but there’s currently an opportunity to earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership. Learn more about the special offer here.
Update: This offer is expired. Please check out the current list of the best current travel credit cards.
I’ve written in the past about the SimplyCash® Business Card from American Express, which is one of the most compelling no annual fee business credit cards I’ve seen. They’re offering a $250 statement credit after spending $5,000 on qualifying purchases within the first six months of card membership. Here are few of the details:
No annual fee
The heading says it all. There aren’t many rewarding business credit cards out there without an annual fee — this is a pretty big selling point, in my opinion.
Rewards for everyday spend
The card has a cash back based rewards system, with some nice bonus categories:
- 5% cash back on the first $25,000 spent annually at US office supply stores and wireless phone providers
- 3% cash back on the first $25,000 spent annually at your category of choice (see below for that list)
- 1% cash back on everything else
For the 3% bonus category you can choose from the following:
- Airfare purchased from airlines
- Hotel rooms purchased from hotels
- Car rentals purchased from select car rental companies
- U.S. gas stations
- U.S. restaurants
- U.S. purchases for advertising in select media
- U.S. purchases for shipping
I think this is a great option, and having the choice to customize a bonus category is smart for a card geared towards small businesses. Depending on your spending habits this could be a very lucrative category, so it’s nice to have the flexibility.
AmEx OPEN Savings Program
Since this is an American Express small business credit card it’s part of the OPEN Savings Program, which gives you up to 10% discounts at select merchants.
One of my favorite partners of the program is Hyatt, as they offer a 5% discount through this program at a majority of Hyatt properties in the US. For me this is one of the biggest selling points of Starwood Preferred Guest® Business Credit Card from American Express and The Business Gold Rewards Card from American Express OPEN, which I previously used to save money on Hyatt stays.
This is hands down the best no annual fee American Express business credit card, so if nothing else having a no annual fee card that qualifies for the program is extremely valuable.
Keep in mind that you can choose hotels as one of the 3% cash back options on the card, meaning you’d be earning a total of 8% cash back on Hyatt stays, up to $10,000 per year.
Receive a 5% rebate at the Park Hyatt New York
Also keep in mind that the savings are capped at $10,000 per year per card, so if you have both an SimplyCash® Business Card from American Express and Starwood Preferred Guest® Business Credit Card from American Express, for example, that raises your “cap” to $20,000.
Today is the last day to change 3% category
As mentioned above, you get to select your preferred 3% cash back category. If you’ve an existing card member, you can change your category selection annually between December 1 and January 31. That means today is the last day to change your 3% bonus categories for this year.
Of course if you’re a new card member you’ll be able to select your 3% category upon approval of the card, and can then change it again between December 1, 2015, and January 31, 2016.
If you already have the card, be sure you’re happy with your 3% cash back category choice. And if you don’t yet have the card, you really should consider it, in my opinion.