A New American Express Credit Card Coming to Town!

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American Express is starting to roll out a new business credit card that and the best part about it is that it is a no annual fee with pretty good perks. The new card, called the SimplyCash Plus, is very similar to the existing SimplyCash card by American Express but will allow big spenders to earn even more points.

Similar to the existing version of the card, you’ll still earn points in the following manner:

  • 5% cash back at US office supply stores and wireless phone services purchased directly from U.S. wireless providers. 
  • 3% cash back at a category of your choice.
    • 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
    • U.S. computer hardware, software and cloud computing purchases made directly from select providers —> this is a new category only for the SimplyCash Plus card
  • 1% cash back on all other purchases and after you hit the spend threshold on the bonus categories

Difference Between the SimplyCash and SimplyCash Plus?

Aside from the extra 3% category of computer hardware, software, and cloud computing purchases, the biggest difference is the cap for the bonus points you can earn. With the current existing card, you are capped at earning the 5% and 3% cash back on purchases up to $25,000. With the SimplyCash Plus card that limit has been doubled and you can now earn the bonus cash back on purchases up to $50,000. The cap is on a yearly basis and after that you earn 1% cash back on those category purchases.

For the regular user, this is not a huge advantage, but if you are a big spender, these extra points can add up big time!

Sign Up Offer

THIS OFFER HAS EXPIRED. Currently, the Amex SimplyCash card is offering a sign up bonus of $250 after you spend $5,000 on the card within 6 months. The Amex SimplyCash Plus card is being rolled out to select targeted customers and is varying in the sign up offer. What I’ve heard from American Express directly is that this card will be widely available to all interested customers this April. The mass sign up offer (if any) is still TBD. To be competitive with the current card, I am assuming a $250 bonus, but that is just my guess. You can read more about the existing card and sign up offer here.

Other Perks

  • Access to the American Express OPEN Savings program. I wrote about this more here, but essentially you can get 5% as a statement credit at participating merchants, i.e., Hertz. There are stipulations to each program, so make sure to look at the prior post about the certain caveats. If you were to rent Hertz card often, for example, and selected the 3% cash back on car rentals, this would end up giving you 8% cash back.
  • Receive statement credits with Amex Offers. Since this is an American Express credit card, you’ll be eligible to take advantage of more American Express offers. This means you can earn statement credits at many popular merchants with a credit card that doesn’t have an annual fee! If you partake in these offers then you are already ahead!

Overall…

I am always glad to see more credit card options and offers added to the mix, especially when they carry no annual fee!

Comments

  1. two words: bluebird & serve.

    Obviously, Amex butters your bread, so you pump and pump and pump. Exclamation point! No context, no independence, no “reason” to follow your “advise” anymore.

  2. I used to have an American Express card that was supposed to give me three points on advertising I bought. The reality was the “select media” was SO select that it did not cover any advertising I bought on any TV, radio or newspapers. I dropped the card fast and went back to the cards I get two points on for everything I buy.

  3. What’s the problem with Amex buttering his bread? If you never get anything out of these emails just unsubcribe or delete them! Some people!

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