*REVIEW* American Express Simply Cash Business Card - CreditCardForum.com - Credit Card Forum & Message Board, Reviews & Offers

CreditCardGuru · 04-16-2008, 05:27 PM

Update: Due to market conditions this business card is no longer available. We recommend you check out the similar card which offers 5% cashback, the Blue Cash card.

I’ve had the American Express SimplyCash card since its debut and right now there’s not another card on the market that I’m more excited about. What makes this card my favorite? Well let’s dissect this credit card piece by piece:

Q: What’s the deal on the CASH BACK?
A: Simply put, the SimplyCash card has one of the best cash back systems out there:

3% CASH BACK on AUTOMOBILE GAS
5% CASH BACK on WIRELESS SERVICES (like your cell phone bills)
5% CASH Back on OFFICE SUPPLIES (places like Staples, etc)
For virtually all other purchases you get 1% CASH BACK.
There’s no limit on the amount you can earn.
Cash back is automatically credited to your statement each month (no more having to wait to redeem your cash back!)

Then you save even more with the OPEN SAVINGS network. This is another free program where you get more automatic savings from participating companies. Here’s a few discounts offered at the time I’m writing this:

FedEx/Kinkos – 5% off
Hertz Rent-A-Car – 5% off
Hyatt Hotels – 3% off
JetBlue – 3% off
Delta – 3% off
Marriot (Courtyard, Fairfield Inn, Spring Hill Suites) – 5% off
Ruby Tuesday Restaurants – 5% off
…and tons more

Just like the cash back, these "Open Savings" are automatically credited to your statements.

Q: This is a BUSINESS CARD so do I need to own a BUSINESS?
A: Many people aren’t aware of the fact that almost anyone can apply for business credit cards, even if they are not part of a corporation or LLC. Just use your own name as the business name, and your Social Security Number as the Tax ID. How is this possible? Well any individual can be a business as well – it’s called a sole proprietorship, the simplest form of a business entity. This is fully recognized by the IRS. Do you sell old clothes on eBay? Bam! You’re a sole proprietor. Do you do freelance work for neighbors or friends? That’s a sole proprietorship too.

If you qualify as a sole proprietorship, your Social Security number is your tax ID number (unless you filed for a separate EIN) and your business name is the same as your legal name. Please remember if you are a sole proprietor there is no distinction between your business and yourself. Whether it’s “business” debts or “personal” debts – you’re responsible for both. If you have a business card for your sole proprietorship, you don’t need to worry about tax issues or filing anything special with the IRS, unless you actually plan on deducting your business purchases on your tax return. (If you do want to deduct your purchases, ask a tax advisor). I have numerous business cards with American Express and other companies - most I signed up for as a sole proprietor. Personally, I’ve never had a single difference in the way my business cards operate and the way my personal cards operate. So it’s pretty simple – if you’re a sole proprietorship and meet the credit card company’s guidelines, it’s just as easy to apply for and use a business card as it is a personal card. However please check to make sure you meet the credit card company’s requirements since every creditor and card may have different rules.

Q: How’s the CUSTOMER SERVICE?
A: I have (and have had) every credit card under the sun, so believe me I know customer service. Now it seems to be the norm that you will wait on the line forever just to talk with someone who can’t even speak English. This is not the case at all with American Express. Usually when I call, I talk to a live person right away without any wait time at all. And if they tell you their name is Mary, that is NOT an alias for Manjushri in India. You actually get Americans answering the phone with American Express! I’ve always gotten nice people that really know what they’re talking about.

The biggest benefit of their customer service in my opinion is how incredibly easy they make it to handle merchant disputes or fraudulent transactions. I’ve had major problems such as my identity stolen, and ones like getting ripped off with a defective product. American Express is the best with handling these things. You just call them up, tell them what’s going on, and they take care of the rest. To me it seems like a lot of companies make this process tedious in order to discourage it... Not the case at all with American Express.

Over Christmas when I flew out of town I realized I forgot my SimplyCash card at home. No problem at all… I called up American Express and right off the bat they offered to send me another card… MAILED U.P.S. NEXT DAY DELIVERY FOR FREE! I hope they never change because these people really know how to treat their customers.

Q: What are the CREDIT LIMITS?
A: Of course this depends on your credit history, but I can tell you for me at least, American Express has been very generous with credit limits. My credit cards with the highest limits have always been my American Express cards.

Q: What are the INTEREST RATES and FEES?
A: You would think you’d get charged more since this is a rewards card with no annual fee… not the case! At the time I’m writing this (so it may have changed) they’re offering a 0% intro APR on purchases for up to 12 months. I’ve had my card a over 12 months now so the intro rate has expired, and my normal interest rate is now 5.00% (the current prime rate). Can you believe that? That's unbelievable for any card, let alone a rewards card!
However keep in mind the rate you get can vary depending on your credit history. They usually have some good balance transfer deals going on too. What are the fees for this card and it’s rewards? Zero, nadda, nothing. This card has no annual fee.

Since this card has some of the highest rewards out there, the lowest APRs, and customer service that can't be beat... I recommend this card more than any other out there right now. You have nothing to lose and only Free Cashback to gain. It only takes a minute to apply, check it out at their website for the (update - this card is no longer available)

04-16-2008, 05:27 PM	#1
CreditCardGuru Moderator Join Date: Mar 2008 Location: Huntington Beach, CA Posts: 47	REVIEW American Express Simply Cash Business Card Update: Due to market conditions this business card is no longer available. We recommend you check out the similar card which offers 5% cashback, the Blue Cash card. I’ve had the American Express SimplyCash card since its debut and right now there’s not another card on the market that I’m more excited about. What makes this card my favorite? Well let’s dissect this credit card piece by piece: Q: What’s the deal on the CASH BACK? A: Simply put, the SimplyCash card has one of the best cash back systems out there: 3% CASH BACK on AUTOMOBILE GAS 5% CASH BACK on WIRELESS SERVICES (like your cell phone bills) 5% CASH Back on OFFICE SUPPLIES (places like Staples, etc) For virtually all other purchases you get 1% CASH BACK. There’s no limit on the amount you can earn. Cash back is automatically credited to your statement each month (no more having to wait to redeem your cash back!) Then you save even more with the OPEN SAVINGS network. This is another free program where you get more automatic savings from participating companies. Here’s a few discounts offered at the time I’m writing this: FedEx/Kinkos – 5% off Hertz Rent-A-Car – 5% off Hyatt Hotels – 3% off JetBlue – 3% off Delta – 3% off Marriot (Courtyard, Fairfield Inn, Spring Hill Suites) – 5% off Ruby Tuesday Restaurants – 5% off …and tons more Just like the cash back, these "Open Savings" are automatically credited to your statements. Q: This is a BUSINESS CARD so do I need to own a BUSINESS? A: Many people aren’t aware of the fact that almost anyone can apply for business credit cards, even if they are not part of a corporation or LLC. Just use your own name as the business name, and your Social Security Number as the Tax ID. How is this possible? Well any individual can be a business as well – it’s called a sole proprietorship, the simplest form of a business entity. This is fully recognized by the IRS. Do you sell old clothes on eBay? Bam! You’re a sole proprietor. Do you do freelance work for neighbors or friends? That’s a sole proprietorship too. If you qualify as a sole proprietorship, your Social Security number is your tax ID number (unless you filed for a separate EIN) and your business name is the same as your legal name. Please remember if you are a sole proprietor there is no distinction between your business and yourself. Whether it’s “business” debts or “personal” debts – you’re responsible for both. If you have a business card for your sole proprietorship, you don’t need to worry about tax issues or filing anything special with the IRS, unless you actually plan on deducting your business purchases on your tax return. (If you do want to deduct your purchases, ask a tax advisor). I have numerous business cards with American Express and other companies - most I signed up for as a sole proprietor. Personally, I’ve never had a single difference in the way my business cards operate and the way my personal cards operate. So it’s pretty simple – if you’re a sole proprietorship and meet the credit card company’s guidelines, it’s just as easy to apply for and use a business card as it is a personal card. However please check to make sure you meet the credit card company’s requirements since every creditor and card may have different rules. Q: How’s the CUSTOMER SERVICE? A: I have (and have had) every credit card under the sun, so believe me I know customer service. Now it seems to be the norm that you will wait on the line forever just to talk with someone who can’t even speak English. This is not the case at all with American Express. Usually when I call, I talk to a live person right away without any wait time at all. And if they tell you their name is Mary, that is NOT an alias for Manjushri in India. You actually get Americans answering the phone with American Express! I’ve always gotten nice people that really know what they’re talking about. The biggest benefit of their customer service in my opinion is how incredibly easy they make it to handle merchant disputes or fraudulent transactions. I’ve had major problems such as my identity stolen, and ones like getting ripped off with a defective product. American Express is the best with handling these things. You just call them up, tell them what’s going on, and they take care of the rest. To me it seems like a lot of companies make this process tedious in order to discourage it... Not the case at all with American Express. Over Christmas when I flew out of town I realized I forgot my SimplyCash card at home. No problem at all… I called up American Express and right off the bat they offered to send me another card… MAILED U.P.S. NEXT DAY DELIVERY FOR FREE! I hope they never change because these people really know how to treat their customers. Q: What are the CREDIT LIMITS? A: Of course this depends on your credit history, but I can tell you for me at least, American Express has been very generous with credit limits. My credit cards with the highest limits have always been my American Express cards. Q: What are the INTEREST RATES and FEES? A: You would think you’d get charged more since this is a rewards card with no annual fee… not the case! At the time I’m writing this (so it may have changed) they’re offering a 0% intro APR on purchases for up to 12 months. I’ve had my card a over 12 months now so the intro rate has expired, and my normal interest rate is now 5.00% (the current prime rate). Can you believe that? That's unbelievable for any card, let alone a rewards card! However keep in mind the rate you get can vary depending on your credit history. They usually have some good balance transfer deals going on too. What are the fees for this card and it’s rewards? Zero, nadda, nothing. This card has no annual fee. Since this card has some of the highest rewards out there, the lowest APRs, and customer service that can't be beat... I recommend this card more than any other out there right now. You have nothing to lose and only Free Cashback to gain. It only takes a minute to apply, check it out at their website for the (update - this card is no longer available) Last edited by CreditCardGuru : 06-03-2008 at 11:40 AM.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

LinkBacks (?) LinkBack to this Thread: http://creditcardforum.com/american-express/37-review-american-express-simply-cash-business-card.html
Posted By	For	Type	Date
What are the Best Reward Credit Cards Out There?	This thread	Refback	07-09-2008 01:17 AM
How To Save Money on Gas at Every Station	This thread	Refback	06-25-2008 04:37 PM
What's the Deal With Gas Rebate Credit Cards?	This thread	Refback	06-15-2008 12:17 PM
CreditCardForum.com - Credit Card Forum & Message Board, Reviews & Offers	This thread	Refback	04-16-2008 05:32 PM