American Express OPEN launches new business credit card
American Express OPEN has introduced SimplyCash Plus Business Credit Card
American Express OPEN has introduced SimplyCash Plus Business Credit Card, which will allow small businesses to make purchase above their credit limit.
The no annual fee card do not offer unlimited spending power, each cardholder will have a maximum they can spend above the credit limit that is based on a variety of factors.
The company said that the amount spent above the credit limit will be due in full each month as part of the minimum payment due. Card members can continue to carry a balance with interest on the amount spent within their credit limit.
The card also offers an enhanced cash back rewards program.
Currently, SimplyCash Plus Business Credit Card is being offered to select small business owners and will be available for all eligible small businesses in early 2016, the company added.
American Express OPEN Products senior vice president and general manager Audrey Hendley said: “The SimplyCash Plus Card combines our charge and lending capabilities to provide a product that offers greater buying power to help with the ebb and flow of a small business, as well as more opportunities to earn valuable cash back even on larger business expenses.
“This Card empowers small businesses to quickly and seamlessly seize and fund opportunities for growth.”