SimplyCash™ Credit Card by American Express Review

SimplyCash™ Card from American Express
SimplyCash™ Card from American Express
  • $0 annual fee.
  • 1.25% flat rate cash back.
  • Custom entertainment packages.
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Get solid rewards for everyday spending with the no-annual-fee American Express SimplyCash Credit Card.

The new SimplyCash Credit Card from American Express can earn 2.5% cash back on purchases for the first 3 months (up to a value of $150 in cash back) followed by a 1.25% flat rate on purchases.

30-second take

  • Get this card if you want to earn 2.5% cash back on purchases in the first 3 months (1.25% thereafter) with no annual fee.
  • Choose something else if you would rather pay an annual fee to receive more cashback rewards per dollar spent.
Product NameSimplyCash™ Card from American Express
Reward1.25% cash back rate on all purchases when your welcome offer ends. No cap.
Welcome OfferEarn 2.5% cash back (up to $150 cash back) in the first three months.
Required DepositN/A
Purchase Interest Rate19.99%
Cash Advance Rate22.99%
Balance Transfer Rate1.99% for the first 6 months (then 22.99%)
Interest Free Period Up to 21 days
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Annual Fee$0
Monthly Service FeeN/A
Over Credit Line Fee$29
Penalty APR23.99% - 26.99% Variable
Dishonoured Payment Fee$25
Foreign Currency Conversion Fee2.5%
Cash Advance Minimum FeeNone
Late Payment Fee$25
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Credit RatingGood, Excellent
Minimum AgeAge of majority in province/territory of residence
Minimum IncomeN/A
Household IncomeN/A
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Key features

If you’re an avid shopper or want to get more bang for your buck on everyday purchases like groceries and gas, then this card might be the right fit for you.

  • Flat rate cash back. Offers a hard-to-beat intro rate of 2.5% cash back on all purchases in the first 3 months, followed by a flat rate of 1.25% when the welcome period ends.
  • Special offers. Promotes a wide array of discounted and special access offers for all forms of entertainment, including music, theatre, dining, fashion and shopping experiences.
  • Travel and shopping coverage. Provides extended warranty and insurance coverage on products purchased with your SimplyCash™ Card from American Express, along with complimentary $100,000 Travel Accident Insurance. T&C’s apply.
  • 24/7 Customer Service. Get help any time of the day, from Monday to Sunday.

Optional Balance Transfer Offer

Save big with a 1.99% introductory interest rate for 6 months if you choose to transfer existing balances from other credit cards onto this American Express Card. This option is only available to first time card holders at the time of online application and there’s no balance transfer fee for enacting this service. You may also choose to transfer up to $7,500 or 50% of your credit limit (whichever is less).

Bonus features

  • Welcome offer. Take advantage of a 2.5% cash back rate in your first 3 months (up to $150 cash back), followed by a 1.25% rate in subsequent months. After your welcome rate ends, the amount of cash back you can earn has no limit.
  • Special offers and experiences. Access to memorable experiences with American Express Invites and Front of the Line services which includes the ability to purchase advance tickets or book reserved seating for in-demand entertainment and special access for Budweiser Stage, Roy Thomson Hall and the American Express bar at Massey Hall.
  • Custom entertainment packages. Get first dibs on packages created exclusively for American Express card holders, including deals on weekend getaways, advance screenings of blockbuster movies and online and in-store shopping promotions.
  • World class service. Dial into customer service 24/7 by calling the number on the back of your card. Use this service to report fraudulent charges, cancel or replace lost or stolen cards or find answers to any number of questions that might come up along the way.
  • Free Additional Cards. Up to 9 additional cards at no extra cost. Purchases made on these cards will add to your annual cash back balance.

What to watch out for

  • Not as widely accepted overseas. The SimplyCash™ Credit Card is an American Express card, which means you might not be able to use it overseas as easily as you would a Visa or Mastercard.
  • Penalty APR. Making late or returned payments could saddle you with an APR as high as 23.99% - 26.99% Variable on all balances.

What do other customers say?

Most customers are happy with the perks and benefits on offer from the SimplyCash Card from American Express. The fact that the card is fee-free and no-nonsense, with a flat cash-back rate and a ton of exclusive add-ons makes signing up for this card a no-brainer for Canadians from all walks of life. Many cardholders also praise the top-notch customer service provided by American Express, and other are happy about the cost-saving benefits of an introductory interest rate on balance transfers for new card members.

What should I know before I apply

  • How to apply

    1. Click Go to site on this page to be securely directed to the American Express website.
    2. Select the SimplyCash™ Credit 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.

    How long will it take to be approved?

    Depending on whether or not your application requires manual review, you will receive a response in 60 minutes to 10 days.

Bottom line

The SimplyCash Credit Card from American Express offers a no-nonsense, top of the line cashback card. If you’re looking to get more bang for your buck without the hefty annual fee, then this card might be right up your alley.

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