Pros
- ✓Welcome Bonus: $250
- ✓Up to 4x on Groceries
- ✓Purchase protection included
- ✓Travel medical insurance included
Cons
- ✗Foreign Transaction Fee (2.5%)
- ✗No airport lounge access despite fee
Our Review
The SimplyCash® Preferred Card from American Express is the only credit card in Canada that offers 2% cash back on all purchases. In addition, you can get:
- 4% cash back at gas stations
- 4% cash back at grocery stores
With this welcome offer, you can get 10% cash back on all your purchases (up to $2,000) during the first 3 months, for a total of up to $200. Plus, receive a $50 credit on your account after making a purchase in the 13th month.
The SimplyCash® Preferred Card from American Express is particularly popular with those who have significant purchases to make: renovations, furniture or appliance purchases, as it offers 2% at all merchants.
This Card stands out for the numerous insurances offered: car rental theft and damage, $100,000 travel accident, emergency medical expenses (outside the province or country), lost or stolen baggage, flight delay and misdirected baggage, hotel or motel burglary, Purchase Protection, Buyer’s Assurance.
Like all American Express Canada Cards, there is no minimum income requirement.
Rewards
All Spending
2x
Cash Back pts per dollar
Groceries
4x
Gas
4x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$614
$/yr
Estimated Value
$614
After Fees
+$495
1st Year Value
$745
incl. welcome bonus
Annual rewards breakdown
Travel Insurance
Travel Medical
Up to $5,000,000 / 15 days
Delayed Baggage
Up to $500
Lost Baggage
Up to $500
Flight Delay
Up to $500
Hotel Burglary
Up to $500
Travel Accident
Up to $100,000
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Mobile Device
Up to $1,000
Auto Rental
Up to $85,000 / 48 days
Interest Rates
- Purchase Rate21.99%
- Cash Advance21.99%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
- Get a bonus of 10% cash back on all your purchases during your first 3 months (up to $2,000 in purchases). Plus, get a $50 account credit when you make a purchase in the 13th month. You could accumulate up to $250 in bonus value during your first 13 months.
- Get enhanced earning rates on eligible gas and grocery purchases
- Get 4% cash back on eligible gas purchases in Canada, 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back per year), and 2% cash back on all other purchases
- Annual Fee: $9.99 per month (totaling $119.88 per year) for residents outside Quebec. $119 per year for residents of Quebec
- Access events and special offers curated for Cardmembers with Amex ExperiencesTM
- Benefit from extensive insurance coverage and 24/7 customer service
Apply with confidence!
- See if you’ll be approved before you apply – with no impact to your credit score.*
- When applying for a new card, businesses will typically run a “hard check” of your credit report. A hard credit check can cause a temporary impact to your credit score.
- Unlike many lenders, for American Express’ personal cards, you can see if you will be approved before you apply without impacting your credit score
- A soft credit check is a check into your credit report initiated either by you or a company even if you didn’t apply for credit. It is primarily used to screen for pre-approval financing offers or for a background check
- Available for American Express personal cards, we’ll let you know your eligibility with no impact to your credit score, so you can submit your application with confidence.*
*Instant decisions are only available for Consumer (also known as Personal) Card applications.
FAQ
Where to use SimplyCash® Preferred Card from American Express Quebec or in Canada?
You can use your SimplyCash® Preferred Card from American Express at grocery stores like IGA, Metro, Super C, Safeway, Whole Foods, your convenience store Couche-Tard or 7Eleven, your favourite gas station like Esso, Shell, Petro-Canada, or any travel provider!
What is the welcome offer for SimplyCash® Preferred Card from American Express?
Get 10% cash back on all your purchases for 3 months, up to $2,000, plus $50 after making a purchase in the 13th month.
What are the cash-back ratios for gas and grocery purchases?
With your SimplyCash® Preferred Card from American Express, you can earn 4% cash back per dollar on your grocery and gas purchases and 2% cash back per dollar on all your other purchases.
What is the cash back rate for other purchases?
2% cash back on all other purchases.
What special events are available to cardholders?
Access to special events and offers via American Express Experiences.
What are the card annual fees?
$119.88 annually, with the first supplementary card free.
Are there any fees for foreign currency transactions?
2.5% foreign transaction fee.
Legal
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