American Express has just launched their newest business credit card, which is a great option for someone looking to earn cash back with a no annual fee card (Rates & Fees). While I wouldn’t say the card is industry-leading, I do think some people will find it to be worthwhile.
Amex Blue Business Cash Card basics for January 2020
The new Blue Business Cash™ Card from American Express is the replacement for the Amex SimplyCash Plus Card, for which Amex has just stopped accepting applications.
The Blue Business Cash is a straightforward no annual fee card that a lot of businesses looking to earn cash back rewards could benefit from. Let’s take a closer look at the details:
Earn 2% Cash Back
The Blue Business Cash offers 2% cash back on the first $50,000 spent on eligible purchases every calendar year. After that, you receive 1% cash back.
The cash back you earn is automatically credited to your statement.
No Annual fee
The Blue Business Cash Card has no annual fee, so this is a card that you can keep long term to maximize your rewards. You can also add authorized users to your account at no extra cost.
0% Intro APR
The card offers 0% intro APR on purchases and balance transfers for 12 months. After that, your APR will be a variable rate (currently in the range of 14.74% - 20.74%), so if you do take advantage of this, make sure you can pay back the full amount within that period (Rates & Fees).
Spend Above Your Credit Limit
There’s one thing that makes Amex business cards especially compelling, which is worth being aware of. While your card will have a credit limit, in general, Amex lets you spend above your credit limit.
The extent to which they’ll let you spend above that limit varies based on quite a few factors, though it is something to be aware of, and something I’ve benefited from in the past when I had big purchases to make on cards with fairly low credit limits.
One of the awesome features of Amex cards is access to Amex Offers, which offers savings on purchases with all kinds of retailers. There’s huge value to be had in getting as many no annual fee Amex cards as possible, so that you can get these offers on multiple cards.
Amex Offers could save you hundreds of dollars per year. You can access these offers by logging into your account and scrolling down to the bottom of your account summary page.
2.7% Foreign Transaction Fees
I wouldn’t recommend using this credit card for purchases outside the US, as the card does have 2.7% foreign transaction fees (Rates & Fees), which will eat up all of your rewards, and then some.
Getting Approved For The Blue Business Cash
Anecdotally I find that Amex business cards are fairly easy to be approved for. Just make sure you know that:
- You can be approved for at most two Amex cards in a 90 day period
- You can have at most five American Express credit cards at any point (this doesn’t include charge cards)
See this post for all major credit card application restrictions to be aware of.
Is The Blue Business Cash Worth It?
If you’re someone who is looking for a no annual fee, straightforward business credit card that earns cash back, then this card is pretty tough to beat, at least for the first $50,000 spent.
That includes quite a few caveats, though — some may find that they’re better off earning points, some may find that it’s worth paying an annual fee for a more rewarding card, and some may find that they could use a personal card for their business spending, and then have the business reimburse them for those expenses.
So if you are considering the Blue Business Cash, here are some other things to keep in mind:
Quick Showdown: Blue Business Cash Vs. Blue Business Plus
If the “Blue Business” branding sounds familiar, it’s because Amex also has The Blue Business® Plus Credit Card from American Express (review), which is one of my favorite business credit cards.
That card offers an unparalleled 2x Membership Rewards points on the first $50,000 spent every calendar year. That card is fantastic, in my opinion, since I value Membership Rewards points at 1.7 cents each, so that’s like a 3.4% return to me.
So while the cards have very similar structures — the names are similar, the annual fees are the same, the perks are the same, etc. — the difference is that the Cash earns 2% cash back, while the Plus earns 2x Membership Rewards points. I value the latter a lot more.
Consider The Spark Cash Business Card
My single favorite cash back business credit card is the Capital One® Spark® Cash for Business (review), which offers 2% cash back on all purchases, with no caps. The card does have a $95 annual fee that’s waived for the first year, but there is often a big welcome bonus to help offset that. The value of that bonus should cover the annual fee for several years.
If you want a straightforward cash back business card with no caps, I’d recommend this card.
Other Great Cash Back Cards
Cash back cards earning the equivalent of 2% are much more common for personal cards than business cards. While you can put business purchases on personal cards, that involves having your business reimburse you, which complicates things.
So if you are looking for a straightforward cash back card that’s as rewarding as possible, consider:
- The no annual fee Citi® Double Cash Card (review), which offers 1% cash back when you make a purchase, and an additional 1% cash back when you pay for that purchase
- The $95 annual fee Bank of America® Premium Rewards Visa® credit card (review), which offers up to 2.625% cash back
Blue Business Cash Summary
The Blue Business Cash is a small business card that’s worth being aware of. Earning 2% cash back with a no annual fee card is potentially a great option. However, I’d note that the Blue Business Plus offers 2x Membership Rewards points on the first $50,000 spent annually, which I’d consider to be a better option.
Furthermore, if I were to get a cash back business card, I’d personally get the Capital One Spark Cash Business instead.
What do you make of the new Amex Blue Business Cash Card?
The following links will direct you to the rates and fees for mentioned American Express Cards. These include: American Express® Blue Business Cash Card (Rates & Fees).