The American Express SimplyCash Preferred Credit Card is an excellent choice for those who prioritize getting rewarded for spending money and feeling safe when buying something or travelling. Its high cashback rates on gas and groceries make it a standout option for everyday spending. For frequent travelers, the card’s diverse coverage options offer valuable protection. Additionally, the simplicity in redeeming rewards adds to its appeal, giving cardholders an easy way to benefit from their purchases.
The card is particularly beneficial for households with significant expenses in the gas and grocery categories. The 4% cashback rate translates into substantial savings over time, especially when combined with the 2% rate on all other purchases. The ability to add up to 9 supplementary cards without it having an impact on your annual fee, allows cardholders to maximize their rewards early on.
CashbackKey Features
- Welcome Offer: in your first 10 months as a new cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months
- Cashback:
- 4% at stand-alone automobile gasoline stations in Canada;
- 4% at stand-alone grocery stores in Canada, up to $1,200 cashback annually. After that, you can still earn 2%;
- 2% on everything else.
- Travel Coverage: Out of Province/Country Emergency Medical Insurance; Flight Delay Insurance; Baggage Delay Insurance; Hotel Burglary Insurance; Lost or Stolen Baggage Insurance; $100,000 Travel Accident Insurance; Car Rental Theft and Damage Insurance
- Mobile Device Insurance: when you purchase an eligible mobile device with your card, you can be covered for up to $1,000 per insured person, in the event of theft, loss or accidental damage, anywhere in the world
- Shopping Coverage: Buyer’s Assurance Protection Plan; Purchase Protection® Plan
- Emergency Card Replacement
- Fraud Protection Guarantee: you won’t be held responsible for any fraudulent charges
- Offers & Discounts: Amex Offers; American Express Travel Online
- American Express Experiences
- Refer a Friend and You Could Earn Bonus Cashback: earn up to a maximum annual referral bonus of $750 cashback for approved referrals
- Add Up to 9 Spplementary Cards For Free: the supplementary cards don’t affect your annual fee;
- Stress-Free Redemption: the cashback earned is applied as a credit to your account annually and will appear on the statement issued in September of each year.
Fees and Charges
- Annual Interest Rate:
- Purchases: 21.99%
- Cash Advances: 21.99%
- Balance Transfers: 21.99%
- Monthly Fee: $9.99 ($119.88 annually)
- Foreign Currency Conversion: 2.5%
Why Should You Choose The SimplyCash Preferred Credit Card?
Its high cashback rates, combined with the coverage it offers and the no-stress redemption process, make it an excellent choice for everyday use and travel. However, potential cardholders should consider the annual fee and the card’s lack of premium travel perks, such as access to airport lounge. If your spending habits align with the card’s high-reward categories, and you value the additional protection benefits, this could be a valuable addition to your wallet.
How To Apply To The SimplyCash Preferred Credit Card
In order to be eligible, you need to be at least the age of majority, a Canada resident. You also need to have a good credit score and an income. Here’s how to apply:
- Visit the Website: click on the button below to access the website. Then, click on the “Apply Now” option;
- Term of Agreement: you’ll receive a pop-up on. Click on the “Agree & Continue” button;
- Fill The Application Form: you’ll be redirected to another page. Make sure you provide any personal and financial details requested and submit the form;
- Wait for Approval: after submitting, wait for approval.