Cash Back Credit Card: Get Up To $250

Q: What is the welcome bonus for the SimplyCash Preferred Card from American Express?

The current offer on the SimplyCash® Preferred Card from American Express is very generous:- 10% cash back on all your purchases (up to $2,000) during the first 3 months, for a maximum of $200; - $50 additional credit after a purchase in the 13th month; - Total: up to $250 cash back; For a household that already spends $2,000/month, it is one of the best cash back welcome offers currently available in Canada.

Q: What are the ongoing cash back multipliers on the SimplyCash Preferred Card?

After the promotional period, the SimplyCash® Preferred Card from American Express earns:- 4% cash back at gas stations; - 4% cash back at grocery stores; - 2% cash back on all other purchases; The 4% rate on groceries and gas places this card among the best cash back cards in Canada, matching the CIBC Dividend Visa Infinite in the same categories. Note that American Express is not accepted at Costco in Canada.

Q: What is the difference between the SimplyCash Card and the SimplyCash Preferred Card?

The two SimplyCash cards target different profiles:- SimplyCash® Card from American Express®: no annual fee, 2% at gas stations and grocery stores, 1.25% elsewhere, with a 5% welcome bonus up to $100; - SimplyCash® Preferred Card from American Express®: with annual fee, 4% at gas stations and grocery stores, 2% elsewhere, with a welcome bonus up to $250; The Preferred version is profitable as soon as you spend more than $200/month in bonus categories (additional gain of ~$48/year exceeds the fee).

Q: Is there a cap on the cash back for the SimplyCash Preferred Card?

Yes. The SimplyCash® Preferred Card from American Express imposes an annual cap on high-rate categories: the 4% rates on groceries and gas apply up to a certain amount of annual purchases per category, after which the rate drops back to the base rate. For a household that spends less than $500/month on groceries and $200/month on gas, the cap will never be reached and the 4% will apply fully. The cash back is credited annually on the account anniversary date in the form of a statement credit.

American Express SimplyCash Cards: Up to $250 Cash Back!

Sep 23, 2024

Updated Jul 17, 2026

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Credit Cards American Express SimplyCash Cards: Up to $250 Cash Back!

To the point Are you searching for a credit card that offers 2% cash back on all purchases and 4% on groceries and gas? Here it is!

Milesopedia recommends this card from American Express Canada

SimplyCash^® Preferred Card from American Express

Up to $250 cash back

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With the decrease in credit card interchange fees in Canada, we have seen the disappearance of credit cards offering 2% on all purchases in recent years.

In fact, only one credit card still offers 4% cash back for groceries and gas today, and 2% cash back for all other purchases. This is the SimplyCash^® Preferred Card from American Express.

SimplyCash^® Preferred Card from American Express

The SimplyCash^® Preferred Card from American Express is the only credit card in Canada that offers 2% cash back on all purchases. In addition, you can get:

4% cash back at gas stations
4% cash back at grocery stores

With this welcome offer, you can get 10% cash back on all your purchases (up to $2,000) during the first 3 months, for a total of up to $200. Plus, receive a $50 credit on your account after making a purchase in the 13th month.

The SimplyCash^® Preferred Card from American Express is particularly popular with those who have significant purchases to make: renovations, furniture or appliance purchases, as it offers 2% at all merchants.

This Card stands out for the numerous insurances offered: car rental theft and damage, $100,000 travel accident, emergency medical expenses (outside the province or country), lost or stolen baggage, flight delay and misdirected baggage, hotel or motel burglary, Purchase Protection, Buyer’s Assurance.

Like all American Express Canada Cards, there is no minimum income requirement.

Other Benefits

As a cardmember of the SimplyCash^® Preferred Card from American Express, you have access to many benefits:

American Express online promotional offers: every month, you get personalized offers allowing you to earn more cash back at certain merchants
Out-of-province or out-of-country emergency medical insurance up to $5,000,000
Flight Delay Insurance
Baggage Delay Insurance
Hotel Burglary Insurance
Lost or Stolen Baggage Insurance
$100,000 Travel Accident Insurance
Car Rental Theft and Damage Insurance
Buyer’s Assurance^® Protection Plan for up to 1 additional year
90-day Purchase Protection^® Plan

SimplyCash^® Card from American Express

Are you looking for a cash back credit card with no annual fee and an excellent cash back rate for your everyday purchases? Here is an option for you: the SimplyCash^® Card from American Express.

With this no-annual-fee credit card, you earn:

2% cash back on gas purchases
2% cash back on grocery purchases
1.25% cash back on all other purchases

And with this welcome offer, you can earn 5% cash back on all your purchases (up to $2,000 in purchases) during the first 3 months (which is up to $100 in statement credits).

You benefit from several types of insurance : $100,000 travel accident, Purchase Protection, Purchase Security.

Like all American Express Canada Cards, there is no minimum income requirement.

Conclusion

The SimplyCash^® Preferred Card from American Express is one of the best cash back credit cards in Canada. It is primarily intended for those who do not wish to multiply the number of credit cards in their wallet or who have many non-category purchases.

It is also an ideal card for those who do not have the minimum income to obtain other cards. Indeed, no minimum income is required to apply for this Card.

It’s the best time to get the SimplyCash^® Preferred Card from American Express with this welcome bonus. Want to apply? Complete your application via the American Express website.

And if you prefer the no-annual-fee version, namely the SimplyCash^® Card from American Express, here is the page to complete your application on the American Express Canada website.

Frequently Asked Questions about the American Express SimplyCash Cards offer

Here are some frequently asked questions in the Milesopedia community about these cards.

What is the welcome bonus for the SimplyCash Preferred Card from American Express?

The current offer on the SimplyCash^® Preferred Card from American Express is very generous:

10% cash back on all your purchases (up to $2,000) during the first 3 months, for a maximum of $200
$50 additional credit after a purchase in the 13th month
Total: up to $250 cash back

For a household that already spends $2,000/month, it is one of the best cash back welcome offers currently available in Canada.

What are the ongoing cash back multipliers on the SimplyCash Preferred Card?

After the promotional period, the SimplyCash^® Preferred Card from American Express earns:

4% cash back at gas stations
4% cash back at grocery stores
2% cash back on all other purchases

The 4% rate on groceries and gas places this card among the best cash back cards in Canada, matching the CIBC Dividend Visa Infinite in the same categories. Note that American Express is not accepted at Costco in Canada.

What is the difference between the SimplyCash Card and the SimplyCash Preferred Card?

The two SimplyCash cards target different profiles:

SimplyCash^® Card from American Express^®: no annual fee, 2% at gas stations and grocery stores, 1.25% elsewhere, with a 5% welcome bonus up to $100
SimplyCash^® Preferred Card from American Express^®: with annual fee, 4% at gas stations and grocery stores, 2% elsewhere, with a welcome bonus up to $250

The Preferred version is profitable as soon as you spend more than $200/month in bonus categories (additional gain of ~$48/year exceeds the fee).

Is there a cap on the cash back for the SimplyCash Preferred Card?

Yes. The SimplyCash^® Preferred Card from American Express imposes an annual cap on high-rate categories: the 4% rates on groceries and gas apply up to a certain amount of annual purchases per category, after which the rate drops back to the base rate. For a household that spends less than $500/month on groceries and $200/month on gas, the cap will never be reached and the 4% will apply fully. The cash back is credited annually on the account anniversary date in the form of a statement credit.

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Jean-Maximilien Voisine

Jean-Maximilien Voisine is the President and Founder of Milesopedia and a leading expert in rewards programs, credit cards, and travel across Canada, France, and the U.S.A. Now 40 years old and a father of two, he has explored more than 100 countries, many of them alongside his wife Audrey and their children. Specializing in loyalty programs such as Aeroplan, Flying Blue, American Express Membership Rewards, and Marriott Bonvoy, Jean-Maximilien helps travellers unlock the full potential of their points and benefits. His mission: empower others to travel better and smarter across North America and Europe.

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Other Benefits

Conclusion

Frequently Asked Questions about the American Express SimplyCash Cards offer

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