American Express SimplyCash Preferred Card

American Express SimplyCash Preferred Card Overview

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The American Express SimplyCash Preferred card is one of the best cashback cards on the market. With its welcome rate for new cardholders, you earn 10% cashback in the first four months of using the card.

It comes with great Amex perks. Also, the American Express SimplyCash Preferred card has several insurance coverage options.

There are no limits or caps on how much cashback you can earn with this card. The more you spend, the more cashback you will get.

Essential Information

Network

American Express

Provider

American Express

Card Type

Cashback

Rewards

The American Express SimplyCash Preferred card has a valuable welcome bonus and exciting cashback rewards.

Welcome Offer

All new cardholders earn:

10% cashback in the first four months of using the card (up to $400 cashback)
A $100 statement credit in the first four months of account opening after charging $4,000 in net purchases to your card

Cashback

With the Simply Preferred Card from American Express, you will earn:

2% cashback on all eligible purchases after the promotional period with no limits.

Travel Insurance

You may have to pay for the total amount with your Amex Simply Preferred Card to qualify for the following insurance benefits:

Out of Province/Country Emergency Medical Insurance: provides coverage of up to 5 million for the first 15 consecutive days of a covered trip. This insurance applies to insured persons under 65 years of age.
Baggage Delay Insurance: covers you for up to $500 for emergency clothing and sundry item purchases. Your baggage must be delayed for 6 or more hours. Also, emergency items must be purchased within four days of arrival at your destination.
Flight Delay Insurance: up to $500 coverage for accommodation, meals, and miscellaneous items. Purchases must be made within 48 hours of a flight delayed for 4 hours or more. Also, there should be no alternative transport available when charging the airline ticket to your card.
Lost or Stolen Baggage Insurance: provides coverage of up to $500 per trip for all insured persons. This coverage applies to checked-in or carry-on baggage.
Hotel Burglary Insurance: if your accommodation is burglarized after fully charging the cost of stay to your card, you’ll receive up to $500 coverage. You’re covered for your personal items, excluding cash.
Car Rental Theft and Damage Insurance: covers damage, theft, and loss for rentals of 48 days or less with an MSRP of up to $85,000.
Travel Accident Insurance: provides up to $100,000 of accidental death and dismemberment insurance.

Other Perks

Access to American Express Invites and Front Of The Line pre-sales, reserved tickets, and E-Updates.
Purchase protection for 90 days from the date of purchase for up to $1,000.
Buyer’s assurance protection with up to one extra year of extended warranty.
Free card replacement.
Referral bonus of up to $1,500 per year when a friend or a family member is approved.

Costs and Fees

Annual fee: $99
Additional card fee: $0
The annual Interest rate for purchases: 19.99%
Cash advance: 21.99%
Overlimit: $29
Dishonoured payment: $25 each

FAQs about the
American Express SimplyCash Preferred Card

How Many Points Can I Earn for Purchases With the American Express SimplyCash Preferred Card?

You can earn up to 2% cashback per dollar on all your purchases with the American Express SimplyCash Preferred card. The earning rate doesn't change per category. So, any eligible purchases you make, earn the 2% flat rate.

What Are the Qualification Criteria?

To be approved for the American Express SimplyCash Preferred card, you must:

Be a Canadian Resident
Be the age of majority in your province
Have a good credit score (660+)

There are no minimum personal or domestic income requirements.

When Does the Welcome Bonus Expire?

The welcome offer for all new American Express SimplyCash Preferred cardholders is subject to change at any time without notice.

When Is the Annual Fee Charged?

American Express charges the annual fee to your account on the date you opened the account. For instance, if you opened your account on September 19, they would charge the Fee on September 19 the following year.