SimplyCash Preferred Card from American Express
Cash Back Rewards

SimplyCash Preferred Card from American Express

American Express(Canada) American Express(Canada)
Welcome Bonus: 10% cash back bonus (up to $200)
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Annual Fee $119.88
Purchase APR 21.99%
Cash Advance 21.99%
Bonus Value $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%
Dining 2%
Gas 4%
Travel 2%
Recurring Bills 2%
Base Rate 2%
Rewards Summary: Earn 4% cash back on eligible gas and grocery purchases in Canada; 2% cash back on all other purchases with no limit.

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

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 Line® access
Common Carrier Accident Insurance
Travel Accident Insurance up to $100,000
Hotel/Motel Burglary Insurance
Hotel Burglary up to $500

Insurance Coverage

Includes Emergency Medical ($5M, 15 days), Flight/Baggage Delay, Hotel Burglary, Car Rental Theft/Damage, Mobile Device ($1k), and standard Shopping protections.

Rates, Fees & Eligibility

Purchase APR21.99%
Cash Advance APR21.99%
Annual Fee$119.88
Grace Period21 days
Income Required No specific requirement listed.
Recommended Credit Score—

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Filed Under

Cash Back Rewards
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