SimplyCash™ Preferred Card from American Express
Rewards Calculator Algorithm
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Total Spending
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$0
Card Details
Annual Rewards
$513.71
First Year Bonus
$400
Annual Fee
$120
First Year Value
$793.71
$393.71 in years after
Interest Rates
Cash Advance: 21.99%*
Purchase: 21.99%*
Annual Fee
$119.88
Annual Income
Personal: N/A
Household: N/A
Credit Score
Very Good
Welcome Bonus
Earn up to $400 in Statement Credits by earning a $40 statement credit for each monthly billing period in which you spend $750 on your Card in your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember. This could add up to $400 in statement credits in the first 10 months. Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Card Type
Cash Back
Our Rating
4.5/5
Institution
American Express
Rewards†
- 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
SimplyCash™ Preferred Card from American Express Cash Back Calculator
Based on average spending
Rewards Ranking
Rewards Breakdown
Gas
$79.49
Groceries
$77.4
All other purchases
$356.82
Annual Fee
- $120
Net Annual Rewards
$393.71
(after fees)
Rewards Summary
Net Annual Rewards
$393.71
(after fees)
First Year Bonus
$400
First Year Value
$793.71
Insurance & Benefits†
Insurance
Coverage
Emergency Out of province Medical
$5M/insured Person
Flight Delay
$500
Baggage Delay
$500
Hotel Burglary Insurance
$500
Lost or Stolen Baggage
$500
Travel Accident
$100,000.svg)
Car Rental Damage & Theft
$85K up to 48 days
Mobile Device Insurance
$1000
Purchase Protection
90 days
Extended Warranty
1 year
Benefits
Details
American Express Experiences
Pros & Cons
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
Cons
- For a card with an annual fee, the insurance coverage could have been higher
- American Express has a lower merchant acceptance compared to Visa or Mastercard