American Express has released an increased $500 cash back offer on the SimplyCash Plus Business Credit Card (OFFER EXPIRED).
As far as I can remember this is the highest welcome 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.
$500 Welcome Offer
The SimplyCash Plus Business Credit Card is now offering a welcome 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.
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.
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 welcome 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.
|Chase Sapphire Preferred Credit Card|
|Quick review: You'll earn 60,000 bonus points after spending $4,000 within the first 3 months of signing up. Plus continue to earn 2X points on travel and dining. The card does have a $95 annual fee.|
Why we like it: For anyone new to travel rewards credit cards, this card is the best place to start. With a modest annual fee you still earn 2X points on travel and dining. You earn Chase Ultimate Rewards points that are extra valuable when you transfer them to transfer partners. Not to mention the 60,000 bonus point welcome bonus gets you off to a great start on earning free flights and hotel stays.