SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

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amex simply cash card

SimplyCash® Card from American Express

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SimplyCash™ Preferred Card from American Express vs SimplyCash® Card from American Express: Which one is better?


SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

4.7


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

amex simply cash card

SimplyCash® Card from American Express

3.7


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$534.23


First Year Bonus

$200


Annual Fee

$119.88


First Year Value

$614.35

$414.35 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$311.78


First Year Bonus

$100


Annual Fee

$0


First Year Value

$411.78

$311.78 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included*

  • heart lock

    Travel Accident

    $100,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    $85K up to 48 days
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • burglar

    Hotel Burglary Insurance

    $500
  • travel accident medical

    Emergency Out of province Medical

    $5M/insured Person
  • hourglass timer

    Flight Delay

    $500

Insurance Included*

  • heart lock

    Travel Accident

    Up to $100,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days or theft up to $1,000 per occurrence

Extra Benefits*

  • Amex logo

    Amex Experiences™

    Access events and special offers curated for Cardmembers with Amex Experiences™

Extra Benefits*

  • Amex logo

    Amex Experiences™

    Access events and special offers curated for Cardmembers with Amex Experiences™

Interest Rates*

Purchase:

21.99%1

Cash Advance:

21.99%1

Interest Rates*

Purchase:

21.992

Cash Advance:

21.992

Annual Fee*

$119.88

Annual Fee*

$0

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus*

Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.

Welcome Bonus*

In your first 3 months as a new SimplyCash® Card from American Express Cardmember, you can earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s on top of your everyday cash back earn rates. That’s up to $100 in bonus cash back.

Rewards Rate*

  • 4% cash back on eligible gas station purchases in Canada
  • 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
  • 2% cash back on all other eligible purchases

Rewards Rate*

  • 2% cash back on eligible gas and grocery purchases in Canada (up to $300 cash back annually)
  • 1.25% cash back on all other eligible purchases

Is this card worth it?

The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.

Is this card worth it?

The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.

Pros

  • Highest cashback rate on groceries and gas in Canada
  • Great base cashback rate for all purchases
  • 10 different insurance types included

Pros

  • No annual fee: The card does not charge an annual fee, making it accessible and cost-effective.
  • Attractive cash-back rates: Offers a solid structure for earning cash-back on eligible purchases.
  • Exclusive Amex perks: Provides benefits such as access to concert tickets and enhanced security for online shopping.
  • Cons

    • Cash back is only paid out to you once a year
    • American Express has a lower merchant acceptance compared to Visa or Mastercard

    Cons

  • Annual cash-back cap: Limits the total amount of cash-back you can earn within a year.
  • Limited travel and shopping insurance: The card lacks comprehensive travel and shopping coverage compared to other premium cards.
  • American Express acceptance: Amex is not accepted as widely as Visa or Mastercard.
  • Legal


    *American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
    1,2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%.

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