American Express has launched a new 'SimplyCash Business Card' for small businesses, with the aim of making cash back rewards simpler for time-pressured business owners by crediting their rewards automatically each month.
The new offering provides cash back rewards for almost all purchases made using the card, and automatically delivers the rewards each month as a statement credit. Cash rebates are among the most popular rewards, with 42% of small business owners saying they prefer cash back rewards, according to the latest OPEN from American Express Small Business Monitor (a semi-annual survey of small business owners).
When cardholders use their SimplyCash Business Card to pay for wireless telephone services, vehicle fuel, or office supplies and equipment (not including warehouse clubs, superstores or supermarkets), they earn a 5% cash back reward. For other eligible purchases, they earn a 1% cash back reward. There are no spending limits or caps on the rewards, and card carries no annual fee.
Rebates to not apply to balances transferred from other accounts, purchases of American Express travellers cheques or American Express gift cheques, fees, finance charges, cash advances, and other similar means of accessing the card account.
Other cardholder benefits
Like other American Express business cards, the new card offers other savings through the American Express OPEN Savings programme. OPEN provides savings with many travel and service providers, and other business suppliers, including Delta, JetBlue, Fedex, Kinko's, and Hyatt.
The card also offers a number of retail and travel benefits such as Global Assist, car rental loss and damage insurance, purchase protection insurance, travel accident insurance, baggage insurance, buyers assurance plan, automatic bill payment, express cash/emergency card replacement, and emergency cheque cashing.