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SimplyCash® Preferred Card from American Express review

In this SimplyCash® Preferred Card from American Express review article, we will show you how to earn unlimited cash back and some more perks that will help you out on your day-to-day.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Partner Offer through CreditCards.com

SimplyCash® Preferred Card from American Express: Unlimited cash back with aditional perks!

Check out our SimplyCash® Preferred Card from American Express review. Source: The Mister Finance.
Check out our SimplyCash® Preferred Card from American Express review. Source: The Mister Finance.

If you are searching for a credit card in Canada that offers a good rate of rewards, you have just found one in this SimplyCash® Preferred Card from American Express review.

The SimplyCash® Preferred Card from American Express is definitely one of a kind card. It features a welcome bonus, unlimited cash back, a range of perks, and a reasonable annual fee.

SimplyCash® Preferred Card from American Express

How to get a SimplyCash® Preferred Card from Amex?

Earn unlimited cash back with a SimplyCash® Preferred Card from American Express! See how to apply for it!

Credit ScoreGood – Excellent
Annual Fee$119.88
Rates & Fees
Regular APR20.99% on purchases and 21.99% on funds advances.
Rates & Fees
Welcome bonusEarn up to $400 in statement credits within the first 10 months when you spend at least $750.
*Terms Apply
Rewards4% cash back on gas and groceries;
2% cash back on all purchases.

*Terms Apply

So if you’d like to learn more, keep reading the content below!

How does the SimplyCash® Preferred Card from American Express work?

AMEX is known for its outstanding financial products, such as credit cards, and now it wouldn’t be different. This new card features many rewards and perks, including an excellent welcome bonus.

So, let’s get started with it. By applying and getting approved to own this SimplyCash Preferred, you can earn $400 in statement credits within the first 10 months. Moreover, the rewards rate is 2% on all purchases, which is the best average in Canada.

The annual interest rates range from 20.99% on purchases and 21.99% on funds advances. Even though it charges $119.88 as a yearly fee, there is no fee for additional cards.

Furthermore, you get travel coverage, coverage of up to $5,000,000 for eligible emergency medical expenses outside your Canadian province or territory of residence, flight delay insurance, baggage lost, stolen, or delay insurance of up to $500, hotel burglary insurance of up to $500, $100,000 travel accident insurance, and car rental theft and damage insurance.

In addition, you can access some privileges and exclusive benefits, such as entertainment, dining, and shopping experiences provided by American Express.

SimplyCash® Preferred Card from American Express benefits

What are the pros and cons to this card? Source: Freepik.
What are the pros and cons to this card? Source: Freepik.

The main benefit is all about the card’s rewards. This credit card offers the best rate in cash back if compared to the national average. Also, it comes with some exclusive offers and protection features.

Unfortunately, the SimplyCash® Preferred Card from American Express is only available for Canadian residents or those with a Canadian credit file at the age of majority in the province or territory where they live.

Pros

  • Earn 4% on gas and groceries;
  • It features unlimited 2% cash back on every dollar spent;
  • Also, it doesn’t charge an annual fee for additional cards;
  • It provides travel perks, coverage, and insurance;
  • It offers access to exclusive events and experiences.  

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Cons

  • It charges an annual fee;
  • It doesn’t specify some eligibility criteria.

How good does your credit score need to be?

To request this credit card, you must have at least a good credit score. You must also be a Canadian resident and have a Canadian credit file. Moreover, you need to be over the age of majority in the province or territory where you live.

How to apply for the SimplyCash® Preferred Card from American Express?

If you want to earn unlimited cash back on your purchases, check out how to apply for an AMEX SimplyCash® Preferred credit card now!

SimplyCash® Preferred Card from American Express

How to get a SimplyCash® Preferred Card from Amex?

Earn unlimited cash back with a SimplyCash® Preferred Card from American Express! See how to apply for it!

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Partner Offer through CreditCards.com

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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