SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

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CIBC Aeroplan® Visa Infinite* Card

CIBC Aeroplan® Visa Infinite* Card

Apply Now

SimplyCash™ Preferred Card from American Express vs CIBC Aeroplan® Visa Infinite* Card: 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

CIBC Aeroplan® Visa Infinite* Card

CIBC Aeroplan® Visa Infinite* Card

3.3


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

$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 baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    $85K up to 48 days
  • heart lock

    Travel Accident

    $100,000
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $500
  • travel accident medical

    Emergency Out of province Medical

    $5M/insured Person
  • hourglass timer

    Flight Delay

    $500

Insurance Included

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    yes
  • heart lock

    Travel Accident

    $500,000
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $2,500
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500

  • travel accident medical

    Emergency Medical Over 65

    3 days
  • cancel airplane

    Trip Cancellation

    $1,500
  • pause

    Trip Interruption

    $2,000

Extra Benefits*

  • Amex logo

    Amex Experiences™

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

Extra Benefits

  • car rental

    Car Rental Discount

    Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
  • exclusive

    Visa Infinite Exclusive Benefits

    Exclusive offers
  • gas station

    Gas Discount

    save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations
  • discount

    Discount

    Primary cardholders can often book flight rewards for even fewer points
  • star fall

    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
  • luggage

    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
  • bed furniture

    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

    flight plane

    Aeroplan® Flights

    2.1¢ / point
  • car rental

    Car Rentals

    0.9¢ / point
  • travel - plane

    Travel

    0.825¢ / point
  • online shop

    Merchandise

    0.75¢ / point
  • gift card

    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.

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 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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