American Express SimplyCash Cards: 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 earns 2% cash back on all purchases. You can also earn:
- 4% cash back at gas stations
- 4% cash back at grocery stores
With this welcome offer, you can earn 10% cash back on all your purchases (on up to $2,000 in purchases) in the first 3 months, for up to $200. Plus, get a $50 statement credit after you make a purchase in your 13th month.
The SimplyCash® Preferred Card from American Express is especially popular with people who have big purchases to make: renovations, furniture or appliances, since it offers 2% at all merchants.
This Card stands out for its extensive insurance coverage: car rental theft and damage, $100,000 travel accident, emergency medical (out of province or country), lost or stolen baggage, flight delay and delayed baggage, hotel/motel burglary, Purchase Protection, Buyer’s Assurance.
As with all American Express Canada Cards, no minimum income is required.
- Annual fee
- $119.88
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$200Total$200Plus $50 of bonus paid after the first year, not counted in this total.Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $200
- Welcome offerAfter $2,000 in 3 months
- Up to $250 cash back
Apply Now
on American Express's website
Apply with confidenceCheck whether your application will be approved before you submit it, with no impact on your credit score*When you apply for a personal American Express Credit Card, we will tell you whether you are eligible without affecting your credit score. So you can apply with confidence.*Instant decisions are only available for consumer Card applications (also called “personal Cards”).
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
Looking for a cash back credit card with no annual fee and a great earn rate on everyday purchases? Here’s an option for you: the SimplyCash® Card from American Express.
With this no-annual-fee credit card, you earn:
- 2% cash back at gas stations
- 2% cash back at grocery stores
- 1.25% cash back on all other purchases
And with this welcome offer, you can earn 5% cash back on all your purchases (on up to $2,000 in purchases) in the first 3 months (that’s up to $100 in statement credits).
You get several types of insurance: $100,000 travel accident, Purchase Protection, Buyer’s Assurance.
As with all American Express Canada Cards, no minimum income is required.
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$100Total$100Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $100
- Welcome offerAfter $2,000 in 3 months
- Up to $100 cash back
Apply Now
on American Express's website
Apply with confidenceCheck whether your application will be approved before you submit it, with no impact on your credit score*When you apply for a personal American Express Credit Card, we will tell you whether you are eligible without affecting your credit score. So you can apply with confidence.*Instant decisions are only available for consumer Card applications (also called “personal Cards”).
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.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $119.88 | |||
| $0 |
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.