Does getting paid to shop sound appealing? Recognizing the adage "cash is king," American Express introduced a new business card last November offering cold, hard cash to business owner who use their charge cards. The new American Express SimplyCash Business Card gives monthly cash-back rebates in the form of a statement credit, rather than the reward points good toward hotel stays or airline flights earned with the co-branded Starwood Hotels and JetBlue reward cards previously introduced by American Express.
American Express isn't the only credit card company willing to ponying up the greens for your purchases. Advanta and Discover also offer business cards with cash-back rewards; all three have no reward caps or annual fees.
The difference? American Express's rewards come in the form of a monthly credit on your card statement, but Advanta Platinum BusinessCard holders receive a check when $50 in cash rewards accrues. Discover cardholders can apply their credit to their card statement or receive a gift card for one of more than 70 partners offering up to double value for dollars earned. Discover issues cardholders a checkbook to help them maximize their reward earnings. "Many B2B vendors don't accept credit cards, so this lets business owners write checks for purchases and earn rewards," explains Sastry Racha-konda, director of Discover Business Card. "There's no cost for using the check feature; the purchase just shows up on your statement the same as any other transaction."
Jennifer Pellet is a freelance writer specializing in business and finance.