SimplyCash™ Preferred Card from American Express vs CIBC Aeroplan® Visa Infinite* Card: Which one is better?
SimplyCash™ Preferred Card from American Express
4.6
CIBC Aeroplan® Visa Infinite* Card
3.3
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
$541.37
Air Canada Aeroplan®
First Year Bonus
$630
Air Canada Aeroplan®
Annual Fee
$139
First Year Value
$1,032.37
$402.37 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
$85K up to 48 days
Travel Accident
$100,000
Mobile Device Insurance
$1,000
Extended Warranty
1 year
Purchase Protection
90 days
Hotel Burglary Insurance
$500
Emergency Out of province Medical
$5M/insured PersonFlight Delay
$500
Insurance Included
Lost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
yesTravel Accident
$500,000Mobile Device Insurance
$1,000Extended Warranty
Up to 1 yearPurchase Protection
90 daysHotel Burglary Insurance
$2,500Emergency Out of province Medical
15 daysFlight Delay
$500Emergency Medical Over 65
3 days
Trip Cancellation
$1,500
Trip Interruption
$2,000
Extra Benefits*
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Extra Benefits
Car Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Visa Infinite Exclusive Benefits
Exclusive offers.svg)
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
Discount
Primary cardholders can often book flight rewards for even fewer points.svg)
Status lift
Reach Aeroplan Elite Status sooner: Earn 1,000 Status Qualifying Miles and 1 Status Qualifying Segment for every $10,000 in eligible purchases made on your card.svg)
Free first checked bag
Enjoy a free first checked bag for you, authorized users and up to 8 companions every time you fly with Air Canada
Free Extra Night at Hotels
Extra night free for every 3 hotel nights redeemed with Aeroplan points
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%, for Quebec 21.99%
Balance Transfer:
22.99%
Annual Fee*
$119.88
Annual Fee
$139
$0
First Year Waived
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
$60,000
Min Household Income:
$100,000
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
10,000 Aeroplan points when you make your first purchase, 20,000 Aeroplan points when you spend $5,000 or more during the first 4 monthly statements periods, 10,000 Aeroplan points as an additional anniversary bonus when you have at least $10,000 in net purchases posted on your account during the first 12 monthly statement periods
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
- 1.5 Aeroplan® points per $1 spent on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
- 1 Aeroplan® point per $1 spent on all other purchases
Loyalty Program*
N/A
Loyalty Program
Point Redemption Options*
Not Applicable
Point Redemption Options
Most Optimal
Aeroplan® Flights
2.1¢ / pointCar Rentals
0.9¢ / point
Travel
0.825¢ / point
Merchandise
0.75¢ / point
Gift Cards
0.72¢ / point
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 CIBC Aeroplan Visa Infinite Card is great for Air Canada travelers who want to rack up Aeroplan points and enjoy perks like free checked bags and preferred pricing on flight redemptions. With solid reward rates in key spending categories like gas, groceries, and Air Canada purchases, this card offers decent returns. Additionally, the first-year annual fee waiver and comprehensive travel insurance make it a solid option for those looking for value without the upfront cost. However, its highest value is for people who frequently travel with Air Canada and make use of Aeroplan rewards, especially for flights.
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
- 10 different insurance types included
Pros
- Generous Welcome Bonus: 40,000 Aeroplan points upon meeting the initial spending requirements.
- High Reward Rates: Earn up to 1.5 points per $1 spent on gas, groceries, EV charging, and Air Canada purchases.
- Air Canada Perks: Free checked bags for you and up to 8 companions when flying Air Canada.
- Preferred Pricing on Aeroplan Flights: Get access to better Aeroplan point redemption rates for Air Canada flights.
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
- Income Requirements: Requires either a $60,000 personal income or a $100,000 household income to qualify.
- Limited Redemption Value: The highest value for points is found when redeeming for Air Canada flights, limiting flexibility if you prefer other types of rewards.
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