American Express has released an increased $500 cash back offer on the SimplyCash Plus Business Credit Card.

As far as I can remember this is the highest sign-up bonus ever offered on this card, but it comes with a rather high minimum spend requirement as well. Normally the card offers a $250 cash back offer.

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$500 Sign-up Bonus

The SimplyCash Plus Business Credit Card is now offering a sign-up bonus of $500 cash back.

The bonus is actually broken down into two tiers:

  • Earn a $250 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
  • Plus, earn an additional $250 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership. Offer Expires 01/25/2017.

Link: SimplyCash Plus Business Credit Card from American Express

Clearly American express is looking to attract business owners who plan to put a good amount of spending on their card.

However, if you you can meet these requirements this card could be worth looking at if you have never had it before.

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Card Earnings & Benefits

The card offers high cash back earning potential for anyone who makes purchases in the 5x and 3x bonus earning categories.

The card earns the following cash back rates:

  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • 3% cash back on the category of your choice from a list of eight.
  • 1% cash back on all other purchases.

Note: 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% thereafter. Cash back received is automatically credited to your statement.

Another huge perk is that the card has no annual fee, which makes it easy to keep the card open after the first year.

You’ll also get access to additional Amex Offers, which could be a nice perk if you are keen of taking advantage of great deals are offered.

The Bottom Line

The bottom line on this offer is that although the $500 cash back sign-up bonus is inciting I’d only recommend applying if you can meet the higher spending requirement reasonably easy. This means meeting the $15,000 minimum spend through (more-or-less) natural spend.

If you spend a considerable amount in the 5% and 3% bonus categories this could also be a good card option for you.

Also, if the rumors regarding the Ink Plus cards losing their 5x bonus categories do come true then this card could be a great replacement to maximizing the 5% bonus categories.

Barclaycard Arrival Plus™ World Elite MasterCard®


Bonus: 40,000 miles after spending $3,000 in the first 90 days.

Benefits:
-- 2X points per dollar spent on all purchases.
-- Get 5% of your miles back when you redeem your points, to use on your next redemption.
-- Chip+PIN technology, which can be useful for international travel.
-- Complimentary online FICO® Credit Score
-- No foreign transaction fees.

Annual fee: $89

Quick review: The Arrival Plus card is one of my favorite all-around 2X earning cards. The 50,000 mile sign-up bonus is worth $525 in free travel and easy to redeem!