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. In your first 10 months, earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases. This could add up to $400 in statement credits in the first 10 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 American Express 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 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 13

Name	Product	Welcome Offer	Rewards	Purchase Interest Rate	Annual Fee	Min. Credit Score	Description
American Express Cobalt Card 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 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.	Go to siteMore Info Compare	loading Fetching your data...
SimplyCash Card from American Express SimplyCash Card from American Express		$100 in statement credits	Up to 2% cash back	21.99%	$0	Min. recommended credit score: 700	In your first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases. This could add up to $100 in statement credits in the first 10 months.	Go to siteMore Info Compare	loading Fetching your data...
American Express Aeroplan Reserve Card American Express Aeroplan Reserve Card		85,000 points	Up to 2x 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 American Express Aeroplan Card		50,000 points	Up to 2x points	N/A	$120	Min. recommended credit score: 700	Earn up to 50,000 welcome bonus Aeroplan points. That’s up to $1,100 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.