Oct 25, 2019

Review: American Express® Blue Business Cash Card

Lendio sometimes receives compensation for credit card offers. This compensation may impact how products appear on this site (including, for example, the order in which they appear.) Lendio does not include all card companies or all card offers available in the marketplace. This editorial is from the viewpoint of Lendio, and not endorsed by any 3rd party. The information is accurate at the time of publication.

 

American Express recently announced the arrival of their newest business credit card, the Blue Business Cash Card. It’s the cash equivalent of the Blue Business Plus Credit Card, also by American Express. The difference is that the Blue Business Plus Credit Card earns membership points instead of cash back.

The Blue Business Cash Card was unveiled to replace the SimplyCash Plus Business Credit Card. There is little overlap in card specifications between the two cards, but there are quite a few differences. The biggest differences are the way earnings are structured and the interest rate. Most of the smaller details are identical between the two. Just like the SimplyCash Plus Card, the Blue Business Cash Card doesn’t have a welcome bonus, but it comes with no annual fee and expanded buying power. Some people may miss what the SimplyCash Business Credit Card was, but understanding what the Blue Business Cash Card is might win you over.

Cash Back Rewards

What it was: The SimplyCash Card received 5% cash back on up to $50,000 of combined purchases for wireless telephone services purchased from US service providers and purchases directly from US office supply stores. The first $50,000 spent on a select category of your choice earned 3% cash back, and all other purchases earned 1% cash back.

What it is: American Express opted to eliminate categorical earning on The Blue Business Cash Card and offer 2% cash back on up to $50,000 of spending on all purchases. After you reach the $50,000 cap, all earning is 1%. Like the SimplyCash Credit Card, cash back earned is automatically credited to your statement. 

The change in how cash back is earned is the most noticeable difference between the two cards. The switch will be disappointing for businesses that spend a high amount on wireless telephone services and their selected category. It appears that the shift to offer 2% on all purchases is a feature geared toward the masses, being intended for businesses that spend in a variety of categories.

Interest Rate

What it was: SimplyCash Plus offered an introductory APR of 0% for the first 15 months. After the introductory period, the variable APR was between 14.49% and 21.49% based on creditworthiness.

What it is: The Blue Business Cash Card offers an introductory APR of 0% for the first 12 months, with a variable APR of 14.74%-20.74%, based on creditworthiness.

The introduction period of 0% APR is shorter for the new card. Additionally, the minimum APR rate is slightly higher. However, a very small percentage of people are deemed worthy of the minimum rate on a credit card. So even though the minimum is slightly higher for the newer card, it won’t impact a vast majority of cardholders.

Beneficial for Most Small Businesses

The structure of earnings and the interest rate are the biggest differences between the cards. Most of the smaller details are identical between the two. Just like the SimplyCash Plus Card, the Blue Business Cash Card doesn’t have a welcome bonus, but it comes with no annual fee and expanded buying power. The retiring of the SimplyCash Card will be disappointing for business owners that spent a lot on wireless telephone services and office supplies, but the Blue Business Cash Card gives more consistent earning by offering 2% on every purchase, every time.

The American Express Blue Business Cash Card isn’t an ideal card for large businesses that easily surpass the $50,000 spending cap. This card’s benefits are optimal if your business spends close to $50,000 annually. When you spend $50,000, you will receive $1000 cash back to reinvest into your business. This card is best suited for small businesses with diverse spending that want consistent cash back with no annual fee.  

 

Lendio sometimes receives compensation for credit card offers. This compensation may impact how products appear on this site (including, for example, the order in which they appear.) Lendio does not include all card companies or all card offers available in the marketplace. This editorial is from the viewpoint of Lendio, and not endorsed by any 3rd party. The information is accurate at the time of publication.

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