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American Express OPEN Revamps SimplyCash® Business Credit Card by Giving Small Business Owners the Ability to Customize Their Cash Back RewardsFirst-of-Its-Kind Product Allows Card Members to Choose Their Own Cash Back Categories
NEW YORK,  January 28, 2014 -- 

American Express OPEN today announced the launch of the Enhanced SimplyCash® Business Credit Card, the first and only small business card that gives entrepreneurs the flexibility to choose 3% cash back in one of seven business-related expense categories. In addition, the Card will continue to give small business owners:

  • 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers,
  • 1% cash back on other purchases
  • 5% and 3% cash back rewards are applied to purchases in each category up to $25,000 per rebate year in each tier and Card Members earn 1% cash back thereafter.

The Card has no annual fee and enables new SimplyCash Business Credit Card Members to change their 3% cash back category annually to match their ever-changing business needs.

The customizable categories are:

  • 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, or
  • U.S. purchases for shipping

The SimplyCash Business Credit Card makes receiving cash back simple with easy, automatic statement credits every month. The Card also offers no annual membership fee and no reward minimums, making it a smart choice for today’s small business.

“There is no such thing as one size fits all when it comes to solutions for small business owners, said Ramya Narayanan vice president and general manager, American Express OPEN. “The same should be true of their Business Card benefits. The new SimplyCash Business Credit Card gives entrepreneurs greater control and choice over what cash rewards they receive and how to reinvest them in their business.”

Built-in benefits drive success for small businesses

American Express OPEN Business Cards offer more than rewards and cash back for small businesses. All Cards come equipped with built-in features that help small businesses manage and streamline the expense management process. These benefits include:

  • ReceiptMatch: A free mobile tool that matches images of Business Card receipts to transactions to their online statements, eliminating the need for businesses to sort through piles of paper receipts and manually reconcile them with charges on their statement.
  • Spending Limits and Alerts: Customizable spending limits on Employee Cards and expense tracking gives business owners greater control over expenditures - when a Card reaches its threshold, businesses receive an alert via text or email.
  • Account Manager: Allow trusted individuals – like an assistant or business partner – to access and manage the Business Card account to review statements and make payments.
  • Year End Summary: Card Members can track business expenses in one location, and get a snapshot analysis of the past year’s purchases by predetermined categories to prepare for tax time.
  • Download Activity: Download your current and historical Card transactions to help you manage your business expenses in accounting solutions like QuickBooks, Quicken and Microsoft Money.

About American Express OPEN®
American Express OPEN is the leading payment card issuer for small businesses in the United States and supports business owners and entrepreneurs with products and services to help them run and grow their businesses. This includes business charge and credit cards that deliver purchasing power, flexibility, rewards, savings on business services from an expanded lineup of partners and online tools and services designed to help improve profitability. Learn more at www.OPEN.com and connect with us at openforum.com and twitter.com/openforum.

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpresslinkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

Key links to products and services: charge and credit cards, business credit cards, travel services, gift cards, prepaid cards, merchant services, business travel, and corporate card.


Contacts

Scott Krugman212.640.3244scott.b.krugman@aexp.com

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