The SimplyCash Plus Business card from American Express is a popular credit card for small new businesses. It is especially ideal for tech startups since it offers cash back on hardware, software and other related purchases. These are some important topics to consider before applying for the SimplyCash Plus Business card.
American Express has a long history. It has maintained a top rating with the Better Business Bureau for several decades and was accredited in 1948. There have been a few government actions against the company for illegal credit card practices, which were resolved in settlements. Overall, the company receives about an average number of complaints but resolves most of them within 12 months of notification.
SimplyCash Plus Business Credit Card Pros
The main benefit that received the most praise from customers was the low interest rate. Many small business owners reported interest rates below 15 percent after the introductory period with no interest. The introductory period lasts for 9 months. Also, customers were happy that the card did not come with an annual fee. Customers also appreciated the 5 percent cash back on office supplies and wireless service purchases as well as the 3 percent cash back earned for tech-related purchases. Many cardholders rated this card highly because American Express does not charge a fee for going over the limit. Also, the company awards points for over-the-limit purchases using the standard point structure.
SimplyCash Plus Business Credit Card Cons
One of the biggest complaints about this card was its high penalty APR. The penalty applies in certain conditions, which are outlined in the fine print of the contract. Also, some cardholders who spent over $55,000 per year on credit purchases did not rate this card as the best choice. The card is designed for people who spend less than that. Also, this card is not ideal for small businesses that use international vendors in some countries. There is a foreign transaction fee.
SimplyCash Plus Business Credit Card Customer Service
Most customers gave the customer service line associated with this specific card good ratings. Cardholders reported reasonable hold times and prompt responses to their questions. Also, many people said that customer service agents were friendly, helpful and knowledgeable. Some customers were happy that the call center was not located in a foreign country. Also, customers liked the fraud protection features. Many people said that American Express contacted them promptly when suspicious activity occurred. Also, cardholders were issued replacement cards promptly or overnight upon request when a replacement card was required.
Is The SimplyCash Plus Business Credit Card The Best Choice?
This card is optimal for small tech companies and offices. It is also better for smaller spenders. For those who run other types of businesses or spend more, there are plenty of other business credit cards with better point accrual and rewards. Also, there are other business credit cards that do not have foreign transaction fees, and these are better for companies that work with international vendors frequently. Always compare several cards, their APRs, their penalty APRs and terms before choosing one.