Back for a Limited Time: $250 Statement Credit on AMEX SimplyCash

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The $250 statement credit when you sign-up for the American Express SimplyCash business card after spending $5,000 in the 1st 6 months is back!  But you have to apply by February 24, 2015.  June 23, 2015. September 21, 2015. January 25, 2016. April 27, 2016.

Normally, this card has NO sign-up bonus, so this is a great offer!  And it’s an even better deal because this card currently has no annual fee.

The American Express SimplyCash is a cash back card, which is ideal for folks who want flexibility.  I like using cash back for travel expenses that miles and points won’t pay for, like meals, activities, and shopping!

Is This a Good Deal?

Link:   American Express SimplyCash With $250 Statement Credit

Link:   My Review of the American Express SimplyCash

Link:   How to Fill Out and American Express Business Credit Card Application

I applied for the American Express SimplyCash the last time they offered a $250 statement credit sign-up bonus.  It’s 1 of my favorite business cards because you get:

• $250 statement credit after you spend $5,000 on qualifying purchases on the Card within the 1st 6 months of Card Membership
• NO annual fee
• 5% at US office supply stores & US cell phone service on purchases up to $25,000 per rebate year
• 3% on the category of your choice on purchases up to $25,000 per rebate year
• 1% on other purchases
• To be eligible for this offer, your application must be received by February 24, 2015  June 23, 2015 September 21, 2015 January 25, 2016 April 27, 2016
• Terms & limitations apply

Even if you don’t think you have a business, read my post about ways you might qualify for a business credit card!

And here are some ideas for meeting a credit card’s minimum spending requirement if you’re not sure you can spend $5,000 in 6 months.

Making the Most of the AMEX SimplyCash

1.   $250 Statement Credit

You get $250 cash back in the form of a credit on your billing statement, after spending $5,000 within 6 months.  You can use the credit towards all your purchases, not just travel.

You don’t normally see such a good sign-up bonus on a card with no annual fee.  And fee-free cards are good to keep for a long time, because they increase the length of your credit history and help build a relationship with the bank.

2.   5% Cash Back at US Office Supply Stores and US Wireless Phone Services

You’ll get 5% cash back for up to $25,000 in purchases a year at US office supply stores and on US wireless phone services.  So you could earn up to $1,250 cash back per year ($25,000 in spending x 5%).

This is similar to the 5 points per $1 you spend on these categories with the Chase Ink Plus and Chase Ink Bold cards.  I prefer earning points on those cards because you can often get more value from transferring Chase Ultimate Rewards points to airline and hotel partners.

Office supply stores sell much more than desk lamps and printer paper!  You can also buy household items such as toilet paper, soap, bottled water, and snacks.  And you’ll find gift cards to chain restaurants and other stores.

3.   3% Cash Back in 1 of 7 Categories YOU Choose

Link:   Which SimplyCash 3% Cash Back Category Will You Choose?

Link:   SimplyCash 3% Cash Back Registration

This is where I really like the American Express SimplyCash.  You can pick 1 category from a list of 7 to earn 3% cash back up to a maximum of $25,000 in spending per year.  That’s up to $750 ($25,000 in spending x 3%).

So you can choose the category that best fits your spending habits:

• Airfare (purchased directly from airlines, so online travel agencies like Orbitz won’t count)
• Hotel stays purchased directly from hotels (excluding timeshares, banquets, and events)
• Car rental companies listed at americanexpress.com/rewards-info
• US gas stations
• US restaurants
• US purchases for shipping
• US purchases for advertising in select media

Read what’s included in each category carefully, because there are lots of restrictions.

You’ll be asked to choose a category within the 1st 2 months of having the card, and if you don’t, it will default to 3% cash back at gas stations.  After that, you can change your category once a year, between December 1 and January 1 only.

I chose restaurants for 3% cash back because I don’t get a spending bonus on restaurants with any of my business cards.  However, if you have a Chase Ink Business Cash Credit Card, it offers 2% cash back at restaurants.

But you’ll have to decide for yourself which category suits your business spending the best.

Note:   Aside from airlines, hotels, and car rental companies, the 3% cash back is only at US merchants.  And there’s a 2.7% foreign transaction fee, so I wouldn’t use this card when traveling overseas.

Bottom Line

For a limited time, you’ll get a $250 statement credit with the American Express SimplyCash business card after you spend $5,000 in 6 months. 

Normally, this card has no sign-up bonus, so this is a good deal, especially for a card that charges no annual fee and earns up to 5% cash back.

You’ll earn 5% cash back at US office supply stores and US wireless phone services.  And 3% cash back in 1 of 7 categories you choose, like airfare, hotels, gas stations, or restaurants.

But remember, you have to apply by February 24, 2015.  September 21, 2015 January 25, 2016 April 27, 2016.