SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

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Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

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SimplyCash™ Preferred Card from American Express vs Tangerine Money-Back Credit 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

Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

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

$278.6


First Year Bonus

$100


Annual Fee

$0


First Year Value

$378.6

$278.6 in years after

Based on $2,000/mo average spending and assuming you have a Tangerine Savings account. Calculate your rewards.

Insurance Included*

  • 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
  • heart lock

    Travel Accident

    $100,000
  • 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

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

Extra Benefits*

  • Amex logo

    Amex Experiences™

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

Extra Benefits

N/A

Interest Rates*

Purchase:

21.99%1

Cash Advance:

21.99%1

Interest Rates

Purchase:

20.95%2

Cash Advance:

22.95%2

Balance Transfer:

22.95% (1.95% first 6 months)2

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 the first 2 months, get a bonus 10% cash back up to $100

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% on the choice of two categories chosen from the 10 offered by Tangerine
  • 0.5% cashback on all other credit card 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?

While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.

Pros

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

Pros

  • Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
  • 2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada. 
  • Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
  • Easy credit score requirements needed for this card.
  • Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.

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

  • Insurance coverage is the most basic.
  • Very low cashback rate on the other categories not selected.

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%.
2 The annual interest rate on Purchases is 20.95% and Cash Advances (including Balance Transfers) is 22.95%. Rates are subject to change. If you don't make 2 consecutive monthly Minimum Payments, or at any time thereafter, an interest rate of 25.95% will apply to your Account on Purchases and 27.95% on Cash Advances (including Balance Transfers).

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