SimplyCash Preferred Card from American Express review

Key features of the SimplyCash Preferred Card from American Express

• Cash back. Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually), and 2% cash back on all other purchases.
• Welcome offer. 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.
• Refer a friend. Earn up to a maximum annual referral bonus of $750 cash back for approved referrals.
• Travel and shopping coverage. Offers extended warranty and insurance coverage on products purchased with your SimplyCash Preferred Card from American Express, along with a whole suite of travel insurance to cover lost or stolen luggage, car rental and theft, flight delays, baggage delays and many other incidentals. This comes with up to $5,000,000 Out-of-Province/Country Emergency Medical Insurance. Terms and conditions apply.

Bonus features

• Special offers and experiences. Access events and special offers curated for Cardmembers with Amex Experiences.
• Custom entertainment packages. Get exclusive deals on packages offered to American Express card holders, including discounts on spur-of-the-moment trips, advance screenings of blockbuster movies and online and in-store shopping promotions.
• World class service. Tap into customer service at any time of day or night by dialing the number on the back of your card. Speak to a customer service agent to report fraudulent charges (largely covered by a Fraud Protection Guarantee) or to cancel or replace lost or stolen cards.
• Free Additional Cards. Add extra cards to your account for family and friends to help increase your annual cash back balance at no additional charge.

What to watch out for

• Not as widely accepted overseas. The SimplyCash Preferred Card from American Express may not be accepted in certain location overseas.
• Penalty APR. Missing or losing track of payments could cost you an arm and a leg with an APR of 25.99% - 28.99% Variable on the outstanding balance.

SimplyCash Preferred Card from American Express interest rates

What do other customers say?

Many customers report that they are happy with the perks and benefits on offer from the SimplyCash Preferred Card from American Express.

The $119.88 annual fee cuts into cash back rewards, so if you don’t feel like you can cover your losses it might make more sense to settle for the fee-free version of this card. American Express has been widely praised by many cardholders for a responsive customer service department.

What should I know before I apply

• Eligibility requirements

  To apply for the The SimplyCash Preferred Card from American Express, you must be:

  • Age of majority in province/territory of residence.
  • A resident of Canada and must have a Canadian credit file.

• Required documents and information

  • Your name, residential status and contact information.
  • Your social insurance number and date of birth.
  • Your email address and phone number.

How to apply for the SimplyCash Preferred Card from American Express

1. Click on the Go to Site button above or on this secure link to be directed to the American Express website.
2. Select the SimplyCash Preferred Card from American Express and click Apply now to begin your application.
3. Complete the application with details that include your name, email address, social insurance number and birth date.
4. Review and submit your application.

• Follow up steps

  • Avoid interest payments. It’s important to be on-the-ball when it comes to credit card payments to avoid hefty interest payments, which can reach on unpaid or late-paid balances.
  • Avoid fees. Be aware of additional fees charged for services like statement reprints, funds advances, overlimits and other incidentals. Avoid these fees where possible.

Compare other American Express credit cards

1 - 5 of 12

Product CACCF	Welcome Offer	Rewards	Purchase Interest Rate	Annual Fee	Min. Credit Score	Description
American Express Cobalt Card	15,000 points	Up to 5x points per $1 spent	21.99%	$155.88	Min. recommended credit score: 700	Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.	Go to siteMore Info Compare	loading Fetching your data...
American Express Green Card	10,000 points	1 point per $1 spent	21.99%	$0	Min. recommended credit score: 700	Earn a Welcome Bonus of 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first 3 months as a new Cardmember. That’s $100 towards groceries or concert tickets.	More Info Compare	loading Fetching your data...
SimplyCash Card from American Express	Up to $100 in bonus cash back	Up to 2% cash back	21.99%	$0	Min. recommended credit score: 700	In your first 3 months earn a bonus 5% cash back on all purchases, on top of your everyday cash back earn rates (up to $2,000 in purchases). That’s up to $100 in bonus cash back.	Go to siteMore Info Compare	loading Fetching your data...
American Express Aeroplan Reserve Card	85,000 points	Up to 3x points	21.99%	$599	Min. recommended credit score: 700	Earn up to 85,000 welcome bonus Aeroplan points. That's a value of up to $2,600 or more when you combine your welcome bonus points and card benefits.	Go to siteMore Info Compare	loading Fetching your data...
American Express Aeroplan Card	40,000 points	Up to 2x points	N/A	$120	Min. recommended credit score: 700	Earn up to 40,000 welcome bonus Aeroplan points. That’s up to $900 or more in value when you combine your welcome bonus points and card benefits.	Go to siteMore Info Compare	loading Fetching your data...

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Bottom line on the Amex SimplyCash Preferred Card

The SimplyCash Preferred Card from American Express is a viable option for new members who are looking to make a high volume of purchases in their first few months of card membership and want to maximize their cash back rewards. This card offers a number of perks and benefits with a relatively low annual fee. It is offered as an upgrade on the SimplyCash Card from American Express, which may be a good option for those customers looking for a fee-free cash back option.