Skip to main content
Ratehub logo
Ratehub logo

Review: SimplyCashTM Preferred Card from American Express

As far as cash-back credit cards go, the SimplyCash Preferred Card from American Express has a welcome rate that can’t be beat: 10% cash back on all eligible purchases (up to $400 cash back) for the first four months. Once the welcome rate ends you’ll get 2% cash back on all purchases, with no limit on the amount of rewards you can earn at that rate – easily making it one of the best cash-back credit cards in Canada.

Whereas many cards have spending categories and tiers (for example, 2% cash back on gas and groceries and 1% back on everything else), the SimplyCash Preferred is a straightforward card with a decent overall return. Another advantage this card has is that it comes with comprehensive travel insurance coverage you would usually only get with a travel rewards credit card, including travel emergency medical and accident, flight delay, baggage loss, car rental collision/loss damage waiver.

Card details

  • Annual fee: $99
  • Earn 10% cash back on eligible purchases for the first four months (up to $400 cash back)
  • Earn 2% cash back on all purchases after that, with no limit on how much you can earn

With the strongest welcome cash back rate currently on the market and a competitive 2% earn rate after that, plus the low balance transfer offer, this card delivers a one-two punch on value.

If you’re looking for a card with no annual fee, there’s also the SimplyCash Card from American Express.

Also read:

The knowledge bank

A wealth of knowledge delivered right to your inbox.

By submitting your email address, you acknowledge and agree to Ratehub.ca‘s Terms of Use and Privacy Policy. Contact us for more information. You can unsubscribe at any time.