My new Amex SimplyCash Business Card

I was watching late night TV a few weeks ago and saw a commercial for the American Express SimplyCash Business Card. Targeted at small businesses, the SimplyCash card offers some nice benefits in addition to the ones typical of American Express cards:

• 5% cash back on gas, wireless phone bills, and office supplies and equipment
• 1% cash back on all other purchases
• Cash back is unlimited and is automatically credited to the statement each month
• No annual fee
• 0% APR on purchases for the first 12 months
• Open Savings discounts

I applied for the card online at open.com/simplycash, which was a straightforward process that only took a few minutes. I should disclose that the application asked for personal and business information (including my SSN and my S-Corp's EIN), and this did result in a hard inquiry from AMERICAN EXPRESS TRS on my personal credit report.

Considering the holiday season, I was pleased with Amex's turnaround time: I submitted my application a few days before Christmas and my card arrived 10 days later with a generous credit limit in excess of $20,000. I have to say that I'm pretty impressed with my SimplyCash card so far.