Rogers Red World Elite vs Amex SimplyCash™ Preferred

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Rogers Red World Elite® Mastercard® vs SimplyCash™ Preferred Card from American Express: Which one is better?

Rogers Red World Elite® Mastercard®

4.8

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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SimplyCash™ Preferred Card from American Express

4.6

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Finly Rebate

$50 Cash Rebate from FinlyWealth

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$720

First Year Bonus

Annual Fee

First Year Value

$720

Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.

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.

Insurance Included*

Car Rental Damage & Theft

31 days, $65,000 car MSRP

Extended Warranty

1 year

Purchase Protection

90 days

Emergency Out of province Medical

$1M, Up to 10 days

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1,000/person, $5,000 maximum

Trip Interruption

$1,000/person, $5,000 maximum

Insurance Included*

Car Rental Damage & Theft

$85K up to 48 days

Extended Warranty

1 year

Purchase Protection

90 days

Emergency Out of province Medical

$5M/insured Person

Lost or Stolen Baggage

$500

Baggage Delay

$500

Travel Accident

$100,000

Mobile Device Insurance

$1,000

Hotel Burglary Insurance

$500

Flight Delay

$500

Extra Benefits*

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

No Cost roaming

5 days

Extra Benefits*

Amex Experiences™

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

Interest Rates*

Purchase:

20.99% - 25.99%¹

Cash Advance:

22.99% - 27.99%¹

Balance Transfer:

22.99% - 27.99%¹

Interest Rates*

Purchase:

21.99%²

Cash Advance:

21.99%²

Annual Fee*

$119.88

Income Required*

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus*

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.

Rewards Rate*

3% cash back on all U.S dollar purchases
2% cash back on all regular purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
1.5% cash back on all purchases if you do not have 1 qualifying service
1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value

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

Is this card worth it?

This card is one of the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!

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.

Pros

Voted the Best Cash Back Card in Canada for Rogers, Fido and Shaw customers by FinlyWealth.
Voted the Best No Annual Fee Credit Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many favorable benefits for travelers.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing your rewards.
The roam-like benefit is a benefit unique only to this card.
It is accepted at nearly all locations as it's a Mastercard.

Pros

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

Cons

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.

Cons