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SimplyCash Preferred Card from American Express

SimplyCash Preferred Card from American Express

Earn 5% cash back on purchases for the first 6 months of Cardmembership (up to $400 cash back)

Our Rating:
Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? -- From points, to miles, to cash back - how do you know how much you're really getting? To help you find the best rewards card, we've created the Your Reward Return, a rate that lets you know the rate of return from your spending into rewards so that you can compare like for like. Now that's wise thinking!
$79.00 19.99% - 21.99% Good 5.00% *maximum
  • Card Details Details
  • Our Review Review

Card Details


  • New SimplyCashTM Preferred Card from American Express Cardmembers can earn 5% cash back on all eligible purchases (up to $400 cash back) for the first 6 months of Cardmembership1

  • Earn 1.5% cash back when your Welcome Rate ends (up to $100,000 annually) and 1.25% after

  • No limit to the amount of cash back you can earn

  • Enjoy a special 0% introductory interest rate on transferred balances in the first 6 months if you choose to transfer your other credit card balances to this American Express card at time of online application. A 1% balance transfer fee will be charged on the transaction amount and interest is payable on the amount of this fee at the applicable rate for purchase.

  • No annual fee for Supplementary Cards

  • Access to memorable experiences with American Express Invites┬«

  • Extensive insurance coverage and 24/7 Customer Service

  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants

  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Offer subject to change without notice.


Conditions apply

Features and Benefits

  • Purchase protection and extended warranty
  • Baggage insurance
  • Flight delay insurance
  • Rental vehicle insurance
  • Travel medical insurance
  • Travel accident insurance

RateSupermarket.ca's Review

Want the best cash back earnings available with the plush perks of a travel card? American Express offers a number of competitive perks with its SimplyCash lineup, and this Preferred Card version amps up the plush perks for cardholders to enjoy. This option does come with a $79 annual fee, but the card earning potential far outweighs that with up to $400 earned within the first six months at a rate of 5% (one of the highest on the market), and 1.5% after that. A great feature is ease of earnings - there are no retailer restrictions here - earn cash on travel, shopping, entertainment... the sky's the limit. The real value clincher here though are the inclusion of Amex's extensive travel insurance benefits and Front of Line access.

Top Features of the SimplyCash Preferred Card from American Express

  • Earn cash back on absolutely everything, regardless of retailer or purchase type.
    Earning up to $400 in cash back for the first six months at a rate of 5% on the dollar - one of the highest on the market.
  • Extensive entertainment AMEX Front of the Line Benefits are included.
  • Includes full shopping coverage such as Buyers' Assurance and Purchase Protection.
  • Fantastic travel coverage includes Car Rental Theft and Damage, $100,000 Travel Accident Insurance, Emergency Medical Insurance, Flight Delay Insurance, Lost and Stolen Baggage, and Hotel and Motel Burglary insurance.

Pros

  • Get 5% cash back on all purchases with no retailer or category restrictions, for the first 6 months
  • No cash back cap after the initial 6-month promotional period
  • Earn 1.5% on eligible purchases after initial 6-month promotional period
  • Get Amex Front of the Line benefits
  • Extensive travel insurance benefits

Cons

  • Pay an annual fee of $79
  • Cash back earnings are capped at $400 during the 6-month promotional period
  • Cash back earnings rate drops to 1.50% after the promotional period ends

Rate and product information are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details.

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