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Update: Some offers mentioned below are no longer available. View the current offers here: Chase Freedom, Chase Freedom Unlimited

The no-fee SimplyCash Plus Business Credit Card from American Express just launched a new sign-up offer for up to $400 cash back. You’ll earn $200 in statement credit after you spend $5,000 in the first six months of cardmembership, plus an additional $200 after you spend an additional $10,000 in your first account year.

Previously, this card was offering up to $500 in cash back after you met the same spending requirements, so the new sign-up bonus is a step down — though not a huge one.

Compared to other cash-back card offers on the market, the spending requirement to earn $400 back is quite steep; for instance, with the no-fee Chase Freedom and Chase Freedom Unlimited cards, you can earn $150 in cash back after spending just $500 in the first three months — and if you have a premium Ultimate Rewards-earning card, you can redeem your rewards as transferable points rather than just cash back. However, if the SimplyCash Plus Business Card’s bonus categories align well with your spending patterns — and you prefer cash back to travel rewards — it could be worth signing up for this card.

With the relatively new SimplyCash Plus, you get 5% cash back on spending at US office supply stores and on wireless telephone services purchased directly from US service providers. You’ll also earn 3% back on one category of your choice from eight options (and 1% back on all other purchases):

  • Airfare purchased directly from airlines
  • Hotel rooms purchased directly from hotels
  • Car rentals purchased directly from select car rental companies
  • US gas stations
  • US restaurants
  • US purchases for advertising in select media
  • US purchases for shipping
  • US computer hardware, software and cloud computing purchases made directly from select providers

Bottom Line

The new sign-up bonus on the SimplyCash plus is slightly less rewarding than the previous offer, and in any case spending a total of $15,000 on the card to get $400 in cash back is quite steep. However, if you make a lot of purchases in the card’s bonus categories and don’t prefer to earn travel rewards, it could be worth signing up.

Will you be signing up for this card with the new offer?

Featured image courtesy of Adam Gault via Getty Images.

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