SimplyCashTM Preferred Card Review
New SimplyCash™ Preferred Card from American Express Cardmembers can earn 10% cash back on all eligible purchases (up to $400 cash back) for the first 4 months of Cardmembership
• Earn 2.0% cash back when your Welcome Rate ends
• No limit to the amount of cash back you can earn after your Welcome Rate ends
• Access to memorable experiences with American Express Invites
• Extensive insurance coverage and 24/7 Customer Service
• 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. Conditions apply
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Priority airport services
No
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Airport lounge access
No
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Concierge service
No
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Balance protection(Optional)
Yes
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Purchase Security & Extended Protection Insurance
Yes
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Flight delay insurance,Baggage Insurance
Yes
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Vehicule rental insurance
Yes
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Travel accident insurance
Yes
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Travel medical insurance
Yes
- Annual Fee: $99
- Additional Card Fee: $0
- Purchases Interest Rate: 19.99%
- Cash Advance Interest Rate: 21.99%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
REFER A FRIEND
Refer a friend and you could earn a bonus of $100 cash back for each approved referral up to a maximum annual referral bonus of $1,500 Cash Back
Front Of The Line® Reserved Tickets
The SimplyCash Preferred credit card allows you to earn while you spend. There are no categories or limitations - wherever you spend, you’ll earn cash back with no earning caps. While the credit card does come with an annual fee of $99, you’ll benefit from numerous perks in addition to cash back.
American Express - SimplyCash Preferred CardThe American Express SimplyCash Preferred Card offers cardholders an incredible range of benefits that include high cashback rates and a referral bonus. American Express offers exceptional customer service to its cardholders, with customer care professionals that are available to answer questions and deal with card problems, such as lost or stolen cards, 24 hours a day.
Features and Benefits of the SimplyCash Preferred Card- Fantastic Welcome Offer. Earn 10% cash back in your first four months of card ownership.
- Cash Back Rate. After the welcome offer expires, earn 2% cash back on all purchases.
- Up to $1,500 cashback annually for approved referrals
- No Limit on Earnings. After the welcome offer expires, there are no limitations on earnings with the 2% rate.
- Travel and Shopping Insurance. Travel abroad and shop around with peace of mind. Insurance coverage includes travel accident, car rental theft and damage, buyers assurance protection and much more.
- Entertainment Benefits. Access special event offers from American Express, such as theatre, music, fine dining, fashion and shopping.
Pros
- Cashback is earned on every purchase made with your card
- There are no limits on the amount of cashback you can receive
- Travel insurance limits are generous
- Early access to concerts and other events
Cons
- Amex isn't accepted as widely as Visa and Mastercard
The Takeaway
The American Express SimplyCash Preferred Card is an excellent option for those who are looking for a generous cashback program. Individuals who travel frequently for business or pleasure can also benefit from this card's included travel insurance, which covers accidents, medical expenses, and even lost baggage. Although this card comes with great benefits, it's important for potential users to consider the downfalls, which is the fact that some retailers across Canada don't accept American Express cards.It is always good to have a Visa or Mastercard credit card as a backup.
Author Bio
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.
