Cash Back
Rewards
SimplyCash Preferred Card from American Express
American Express(Canada)
Current Welcome Offer
10% cash back bonus (up to $200)
Annual Fee
$119
Purchase APR
21.99%
Cash Adv. APR
21.99%
Welcome Bonus
~$250
RateBuddy Verdict
The Good
- The 2% base cash back rate on non-category spending is one of the highest flat rates in Canada.
- Impressive insurance package for a cash-back card, including travel medical and mobile device coverage.
- The 4% rate on groceries and gas is industry-leading for a mid-tier fee card.
The Trade-offs
- The 4% grocery category has an annual cash back cap of $1,200.
- American Express is not as widely accepted at all discount grocery chains (like Loblaws/No Frills) compared to Visa or Mastercard.
Rewards & Earnings
Groceries 4.00%
Dining & Takeout 2.00%
Gas & Transit 4.00%
Travel 2.00%
Base Rate 2.00%
Rewards Summary: Earn 4% cash back on eligible gas and grocery purchases in Canada; 2% cash back on all other purchases with no limit.
- Gas (in Canada): 4%
- Grocery (in Canada): 4% (up to $1,200 cash back annually)
- All Other Purchases: 2% (Unlimited)
Welcome Bonus Details
Earn 10% bonus cash back for the first 3 months. Earn 4% on gas and groceries thereafter. Fee is $9.99 monthly.
Estimated Value: $250.00
Features & Benefits
Travel Medical Insurance
Up to $5,000,000 for 15 days (under 65)
Mobile Device Insurance
Mobile Device Insurance up to $1,000
Car Rental Collision/Loss Damage Waiver
Coverage for vehicles up to $85,000 MSRP
Extended Warranty Insurance
Buyer's Assurance extends warranty 1 year
Purchase Security Insurance
Purchase Protection for 90 days
Flight Delay Insurance
Flight delay up to $500
Baggage Delay/Loss Insurance
Baggage delay up to $500
Special Event Access (e.g., Front Of The Line)
Front Of The LineĀ® access
Common Carrier Accident Insurance
Travel Accident Insurance up to $100,000
Hotel/Motel Burglary Insurance
Hotel Burglary up to $500
Additional Perks
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Insurance Coverage
Emergency Medical Insurance
Up to $5,000,000 for the first 15 days (under age 65).
Mobile Device Insurance
Up to $1,000 per insured person for theft, loss, or accidental damage.
Flight and Baggage Delay
Flight/Boarding Denial (>4 hours): Up to $500. Baggage Delay (>6 hours): Up to $500.
Car Rental Theft & Damage
Coverage for MSRP up to $85,000 for rentals of 48 days or less.
Hotel Burglary & Lost Baggage
Burglary: Up to $500. Lost/Stolen Baggage: Up to $500 per trip.
Travel Accident Insurance
Up to $100,000 of Accidental Death and Dismemberment Insurance.
Purchase Protection & Buyer's Assurance
Protection for 90 days (up to $1,000). Extended warranty doubles up to one additional year.
Rates & Fees Details
| Purchase APR | 21.99% |
|---|---|
| Cash Advance APR | 21.99% |
| Annual Fee | $119 |
| Income Required | No specific requirement listed. |