American Express Launches the SimplyCash(SM) Business Card, Giving Small Business Owners Automatic Cash-Back Rewards on Virtually All Purchases Each Month

- Cash-Back Rebate Automatically Credited Each Month -

-5% Cash Back on Gas, Office Supplies, and Wireless; 1% on Virtually All

Other Purchases -



Nov 01, 2006, 00:00 ET from American Express

    NEW YORK, Nov. 1 /PRNewswire/ -- American Express today announced the
 launch of the American Express SimplyCash(SM) Business Card, which makes
 cash- back rewards simple for time-pressed small business owners through
 automatic monthly cash-back rebates(1). The new Business Card gives cash
 back on virtually all purchases and automatically delivers the rewards each
 month as a statement credit.
     Cash rebates are among the most popular rewards, with 42% of small
 business owners saying they prefer cash back rewards, according to the OPEN
 from American Express Small Business Monitor, a semi-annual survey of small
 business owners.
     With the SimplyCash Business Card, cash-back rewards are easy and
 automatic. All Business Cardmembers have to do is use their SimplyCash
 Business Card to automatically receive 5% cash back each month on gas,
 office supplies, and wireless charges, and 1% cash back on nearly all other
 purchases. There are no spending limits or caps on the cash-back rewards a
 Business Cardmember may receive, and the Business Card carries no annual
 fee.
     Like all American Express Business Cards, the SimplyCash Business Card
 gives small business owners additional savings through the OPEN Savings(R)
 program. The OPEN Savings(2) program gives Business Cardmembers automatic
 savings at select travel and service providers, and business suppliers,
 such as Delta, JetBlue, Fedex Kinko's, and Hyatt. In just two years the
 OPEN Savings program has already saved small business owners more than $150
 million.
     "The American Express SimplyCash Business Card's automatic monthly
 rebates make cash-back rewards easy for small business owners who want to
 earn immediate cash-back savings on all their purchases, but don't have
 time for complicated cash-back redemption rules," said Raymond Joabar,
 senior vice president and general manager, OPEN from American Express. "In
 addition, this easy cash-back program has no cap on the savings that
 Business Cardmembers can earn, and cash-back savings are combinable with
 any merchant discount, as well as with the automatic discounts available
 through the OPEN Savings program."
     The American Express SimplyCash Business Card offers small business
 owners an introductory Annual Percentage Rate of 0% on purchases for the
 first 12 months.
     American Express SimplyCash Business Card benefits include:
 
     - 5% cash back on gas, office supplies, and wireless charges
 
     - 1% cash back on virtually all purchases
 
     - Cash-back reward credited automatically on monthly statement
 
     - No caps on the amount of cash-back rewards Business Cardmembers can earn
 
     - 0% Annual Percentage Rate (APR) for 12 months; after 12 months, as low
       as Prime + 0%(3).
 
     - No annual fee, and fee-free additional Cards
 
     - The OPEN Savings program, which offers automatic savings at select
       travel and service providers, and business suppliers like Delta,
       JetBlue, Fedex Kinko's, and Hyatt. For more information, visit
       OpenSavings.com
 
     - Retail and travel protections such as Global Assist, Car Rental Loss &
       Damage Insurance(4), Purchase Protection Insurance(5), Travel Accident
       Insurance(6), American Express Card Baggage Insurance(7), Buyers
       Assurance Plan(8), Automatic Bill Payment, Express Cash Emergency Card
       Replacement, Emergency Check Cashing, and 24-hour customer service.
 
     About OPEN from American Express
     OPEN is the American Express team dedicated exclusively to the success
 of small business owners and their companies. The OPEN Team supports
 business owners with exceptional service. With tailored products and
 services, the team delivers purchasing power, flexibility, control and
 rewards to help customers run their business. Specifically, business owner
 customers can leverage an enhanced set of products, tools, services and
 savings, including charge and credit cards, convenient access to working
 capital, robust online account management capabilities and savings on
 business services from an expanded lineup of partners. To obtain more
 information about OPEN, visit www.OPEN.com, or call 1-800-NOW-OPEN to apply
 for a Card or loan. Terms and conditions apply.
     American Express Company (www.americanexpress.com) is a leading global
 payments, network and travel company founded in 1850.
     1. Cash Rebate: Your Rebate is awarded monthly on the amount of your
        purchases (net of credits for purchases) made during the previous
        billing period, based on the following structure: You will receive a
        Rebate of 5% for purchases of wireless telephone services, automobile
        gasoline, and office supplies and equipment, in each case not purchased
        at warehouse clubs, superstores or supermarkets ("5% Purchase(s)"). You
        will receive a Rebate of 1% for all other purchases.
 
        Important: You will receive a 5% Rebate only if the merchant submits
        the Charge for your 5% Purchase under the appropriate merchant code,
        industry code and required service or product identifier established by
        us with/for the merchant. For example, if a general merchandise
        retailer sells office supplies, and the retailer processes your Card
        transaction as a general merchandise charge instead of an office supply
        charge, you will receive a Rebate of 1%, not a Rebate of 5%.
 
        You will not receive a Rebate for balances transferred from other
        accounts, purchases of American Express Travelers Cheques or American
        Express Gift Cheques, fees, Finance Charges, Cash Advances and similar
        means of accessing your Card Account. Additional terms and conditions
        apply.
 
     2. OPEN Savings(R): Payment must be made with an American Express(R)
        Business Card at the time of purchase. Savings will be credited to your
        American Express Business Card billing statement. All savings
        referenced are in addition to any offers made by participating
        companies. Participation and offers are subject to change without
        notice. Terms and conditions apply. For more information, please visit
        opensavings.com.
 
     3. Annual percentage rate for purchases: 0% introductory APR for 12 months
        on purchases made with plastic only. Then, 8.25%, 12.24%, 15.24%, or
        18.24%, respectively, as determined by us based on our credit
        evaluation and a number of factors, including size of the credit line.
        Other APRs: Balance Transfer APR: 7.99% fixed for the life of the
        transferred balance, but only if transfer is made during the first six
        months as a Cardmember. Then the Standard APR for Purchases will apply.
        Cash Advance APR: 23.24% Default APR: 24.24% (30.24% for Cash Advances)
        for defaulted accounts; 30.24% on all balances for seriously defaulted
        accounts.
 
     4. Car Rental Loss and Damage Insurance: Underwritten by AMEX Assurance
        Company, Administrative Office, Green Bay, WI. Coverage is determined
        by the terms, conditions, and exclusions of Policy AX0925 and is
        subject to change with notice. This document does not supplement or
        replace the Policy.
 
     5. Purchase Protection Plan: Underwritten by AMEX Assurance Company,
        Administrative Office, Green Bay, WI. Coverage is determined by the
        terms, conditions, and exclusions of Policy AX0951 and is subject to
        change with notice. This document does not supplement or replace the
        Policy.
 
     6. Travel Accident Insurance Plan: Underwritten by AMEX Assurance Company,
        Administrative Office, De Pere, WI. Coverage is determined by the
        terms, conditions, and exclusions of Policy AX0948 and is subject to
        change with notice. This document does not supplement or replace the
        Policy.
 
     7. American Express Card Baggage Insurance Plan: Underwritten by AMEX
        Assurance Company, Administrative Office, De Pere, WI. Coverage is
        determined by the terms, conditions, and exclusions of Policy AX0400
        and is subject to change with notice. This document does not supplement
        or replace the Policy.
 
     8. Buyer's Assurance Plan: Underwritten by AMEX Assurance Company,
        Administrative Office, Green Bay, WI. Coverage is determined by the
        terms, conditions, and exclusions of Policy AX0953 and is subject to
        change with notice. This document does not supplement or replace the
        Policy.
 
 

SOURCE American Express
    NEW YORK, Nov. 1 /PRNewswire/ -- American Express today announced the
 launch of the American Express SimplyCash(SM) Business Card, which makes
 cash- back rewards simple for time-pressed small business owners through
 automatic monthly cash-back rebates(1). The new Business Card gives cash
 back on virtually all purchases and automatically delivers the rewards each
 month as a statement credit.
     Cash rebates are among the most popular rewards, with 42% of small
 business owners saying they prefer cash back rewards, according to the OPEN
 from American Express Small Business Monitor, a semi-annual survey of small
 business owners.
     With the SimplyCash Business Card, cash-back rewards are easy and
 automatic. All Business Cardmembers have to do is use their SimplyCash
 Business Card to automatically receive 5% cash back each month on gas,
 office supplies, and wireless charges, and 1% cash back on nearly all other
 purchases. There are no spending limits or caps on the cash-back rewards a
 Business Cardmember may receive, and the Business Card carries no annual
 fee.
     Like all American Express Business Cards, the SimplyCash Business Card
 gives small business owners additional savings through the OPEN Savings(R)
 program. The OPEN Savings(2) program gives Business Cardmembers automatic
 savings at select travel and service providers, and business suppliers,
 such as Delta, JetBlue, Fedex Kinko's, and Hyatt. In just two years the
 OPEN Savings program has already saved small business owners more than $150
 million.
     "The American Express SimplyCash Business Card's automatic monthly
 rebates make cash-back rewards easy for small business owners who want to
 earn immediate cash-back savings on all their purchases, but don't have
 time for complicated cash-back redemption rules," said Raymond Joabar,
 senior vice president and general manager, OPEN from American Express. "In
 addition, this easy cash-back program has no cap on the savings that
 Business Cardmembers can earn, and cash-back savings are combinable with
 any merchant discount, as well as with the automatic discounts available
 through the OPEN Savings program."
     The American Express SimplyCash Business Card offers small business
 owners an introductory Annual Percentage Rate of 0% on purchases for the
 first 12 months.
     American Express SimplyCash Business Card benefits include:
 
     - 5% cash back on gas, office supplies, and wireless charges
 
     - 1% cash back on virtually all purchases
 
     - Cash-back reward credited automatically on monthly statement
 
     - No caps on the amount of cash-back rewards Business Cardmembers can earn
 
     - 0% Annual Percentage Rate (APR) for 12 months; after 12 months, as low
       as Prime + 0%(3).
 
     - No annual fee, and fee-free additional Cards
 
     - The OPEN Savings program, which offers automatic savings at select
       travel and service providers, and business suppliers like Delta,
       JetBlue, Fedex Kinko's, and Hyatt. For more information, visit
       OpenSavings.com
 
     - Retail and travel protections such as Global Assist, Car Rental Loss &
       Damage Insurance(4), Purchase Protection Insurance(5), Travel Accident
       Insurance(6), American Express Card Baggage Insurance(7), Buyers
       Assurance Plan(8), Automatic Bill Payment, Express Cash Emergency Card
       Replacement, Emergency Check Cashing, and 24-hour customer service.
 
     About OPEN from American Express
     OPEN is the American Express team dedicated exclusively to the success
 of small business owners and their companies. The OPEN Team supports
 business owners with exceptional service. With tailored products and
 services, the team delivers purchasing power, flexibility, control and
 rewards to help customers run their business. Specifically, business owner
 customers can leverage an enhanced set of products, tools, services and
 savings, including charge and credit cards, convenient access to working
 capital, robust online account management capabilities and savings on
 business services from an expanded lineup of partners. To obtain more
 information about OPEN, visit www.OPEN.com, or call 1-800-NOW-OPEN to apply
 for a Card or loan. Terms and conditions apply.
     American Express Company (www.americanexpress.com) is a leading global
 payments, network and travel company founded in 1850.
     1. Cash Rebate: Your Rebate is awarded monthly on the amount of your
        purchases (net of credits for purchases) made during the previous
        billing period, based on the following structure: You will receive a
        Rebate of 5% for purchases of wireless telephone services, automobile
        gasoline, and office supplies and equipment, in each case not purchased
        at warehouse clubs, superstores or supermarkets ("5% Purchase(s)"). You
        will receive a Rebate of 1% for all other purchases.
 
        Important: You will receive a 5% Rebate only if the merchant submits
        the Charge for your 5% Purchase under the appropriate merchant code,
        industry code and required service or product identifier established by
        us with/for the merchant. For example, if a general merchandise
        retailer sells office supplies, and the retailer processes your Card
        transaction as a general merchandise charge instead of an office supply
        charge, you will receive a Rebate of 1%, not a Rebate of 5%.
 
        You will not receive a Rebate for balances transferred from other
        accounts, purchases of American Express Travelers Cheques or American
        Express Gift Cheques, fees, Finance Charges, Cash Advances and similar
        means of accessing your Card Account. Additional terms and conditions
        apply.
 
     2. OPEN Savings(R): Payment must be made with an American Express(R)
        Business Card at the time of purchase. Savings will be credited to your
        American Express Business Card billing statement. All savings
        referenced are in addition to any offers made by participating
        companies. Participation and offers are subject to change without
        notice. Terms and conditions apply. For more information, please visit
        opensavings.com.
 
     3. Annual percentage rate for purchases: 0% introductory APR for 12 months
        on purchases made with plastic only. Then, 8.25%, 12.24%, 15.24%, or
        18.24%, respectively, as determined by us based on our credit
        evaluation and a number of factors, including size of the credit line.
        Other APRs: Balance Transfer APR: 7.99% fixed for the life of the
        transferred balance, but only if transfer is made during the first six
        months as a Cardmember. Then the Standard APR for Purchases will apply.
        Cash Advance APR: 23.24% Default APR: 24.24% (30.24% for Cash Advances)
        for defaulted accounts; 30.24% on all balances for seriously defaulted
        accounts.
 
     4. Car Rental Loss and Damage Insurance: Underwritten by AMEX Assurance
        Company, Administrative Office, Green Bay, WI. Coverage is determined
        by the terms, conditions, and exclusions of Policy AX0925 and is
        subject to change with notice. This document does not supplement or
        replace the Policy.
 
     5. Purchase Protection Plan: Underwritten by AMEX Assurance Company,
        Administrative Office, Green Bay, WI. Coverage is determined by the
        terms, conditions, and exclusions of Policy AX0951 and is subject to
        change with notice. This document does not supplement or replace the
        Policy.
 
     6. Travel Accident Insurance Plan: Underwritten by AMEX Assurance Company,
        Administrative Office, De Pere, WI. Coverage is determined by the
        terms, conditions, and exclusions of Policy AX0948 and is subject to
        change with notice. This document does not supplement or replace the
        Policy.
 
     7. American Express Card Baggage Insurance Plan: Underwritten by AMEX
        Assurance Company, Administrative Office, De Pere, WI. Coverage is
        determined by the terms, conditions, and exclusions of Policy AX0400
        and is subject to change with notice. This document does not supplement
        or replace the Policy.
 
     8. Buyer's Assurance Plan: Underwritten by AMEX Assurance Company,
        Administrative Office, Green Bay, WI. Coverage is determined by the
        terms, conditions, and exclusions of Policy AX0953 and is subject to
        change with notice. This document does not supplement or replace the
        Policy.
 
 SOURCE American Express