SimplyCashTM Preferred Card from American Express Review
Earn 10% cashback in your first 4 months*
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Recommended Credit Score:
670 900
Average to Excellent
Welcome Bonus Value
Annual Fee
Purchase Interest Rate
Min Personal Required
SimplyCashTM Preferred Card from American Express
Apply Now
My Rate Compass Rating: star star star star star_outline (4.4)
Bank Name:American Express
Network Type:Amex
SimplyCashTM Preferred Card from American Express
Welcome Bonus
Earn 10% cashback in your first 4 months*
Annual Fee
SimplyCashTM Preferred Card from American Express
Card Details

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


  • Priority airport services No
  • Airport lounge access No
  • Concierge service No
  • Balance protection(Optional) Yes
  • Purchase Security & Extended Protection Insurance Yes
  • Flight delay insurance,Baggage Insurance Yes
  • Vehicule rental insurance Yes
  • Travel accident insurance Yes
  • Travel medical insurance Yes
Fees and Eligibility
  • 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
Recommended Credit Score:
670 900
Average to Excellent
Our Rating
My Rate Compass Rating: star star star star star_outline (4.4)
Rating Methodology: My Rate Compass's ratings are determined by our editorial team. Our editors rate credit cards objectively based on the benefits and features the credit card offers, interest rates, the fees, and how a credit card compares with other cards in its category. Credit card rating methodology
Editorial Guidelines: Learn more about our editorial guidelines here.
Pros and Cons


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® Advance Access

Cardmembers can purchase Front Of The Line presale tickets or make Front Of The Line reservations to some of the most in-demand concerts, theatre productions, restaurants and special events, often before the general public.

Front Of The Line® Reserved Tickets

During the public on-sale period for many major events, Cardmembers can purchase Front Of The Line tickets from a block of great seats reserved exclusively for American Express.
Editor's Review

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 Card

The 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 and Cons of the SimplyCash Preferred Card

  • 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


  • 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

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.

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