Introduction

The Amex SimplyCash Preferred Card is a standout option for Canadians who want to earn significant cashback and enjoy premium benefits. Offering 4% cashback on gas and groceries, along with 2% on all other purchases, this card provides excellent rewards for everyday spending.

Plus new cardholders can also take advantage of an exciting welcome bonus that provides a fantastic earning boost during the first three months.

With its impressive cashback rates, top-tier insurance coverage, and exclusive benefits, the SimplyCash Preferred Card delivers exceptional value. 

Apply now to take advantage of everything this card has to offer.

How to Earn the Welcome Bonus

The SimplyCash Preferred Card features an enticing welcome bonus that offers real value for new cardholders. When you spend $2,000 in the first three months, you’ll earn 10% cashback, resulting in up to $200 in rewards. Additionally, making a purchase during the 13th month of card membership will earn you a $50 statement credit, bringing the total welcome bonus to $250.

To maximize this offer, focus your spending on everyday essentials like groceries, gas, and utility bills during the initial three months. Larger planned purchases, such as home appliances or travel expenses, can also help you reach the spending threshold quickly. This bonus is one of the card’s most exciting features, providing immediate value.

Don’t miss out on this incredible welcome offer. Apply today.

Card Fees

The SimplyCash Preferred Card offers a competitive fee structure that balances affordability with premium rewards. Here’s a breakdown of the card’s fees:

• Annual Fee: $9.99 per month, totalling $119.88 annually.
• Additional Card Fee: $0
• Foreign Transaction Fee: 2.5%.
• Cash Advance Rate: 21.99%.
• Purchase Interest Rate: 21.99%.
• Penalty APR: 25.99% to 28.99% variable.

This fee structure is competitive compared to other cashback cards in Canada, especially considering the premium rewards and benefits included.

For those who spend heavily on gas, groceries, and everyday purchases, the cashback potential far outweighs the modest annual fee.

Click here to apply for the SimplyCash Preferred Card today.

How to Earn Rewards

The SimplyCash Preferred Card offers a competitive rewards structure that helps maximize your cashback on everyday purchases. With 4% cashback on gas and groceries (up to $30,000 in annual spending per category) and 2% cashback on all other purchases, this card is an excellent all-rounder for Canadian households. Once the annual spending cap of $30,000 is reached in the enhanced categories, the cashback rate drops to 2%.

Real-Life Examples of Earning Cashback

To illustrate how much cashback you can earn, let’s break it down using typical spending scenarios:

Example 1: Monthly Household Spending

Imagine a family with the following monthly expenses:

• Gas: $500
• Groceries: $800
• Other purchases: $1,000 (dining, shopping, subscriptions, etc.)

Here’s how the cashback adds up:

• Gas: $500 × 4% = $20 per month ($240 per year)
• Groceries: $800 × 4% = $32 per month ($384 per year)
• Other purchases: $1,000 × 2% = $20 per month ($240 per year)

Total Annual Cashback: $240 (gas) + $384 (groceries) + $240 (other purchases) = $864 per year.

Example 2: Maximizing the Spending Cap

For high spenders who reach the $30,000 annual cap in the enhanced categories (gas and groceries), here’s the potential cashback:

• Gas and Groceries: $30,000 × 4% = $1,200 annually.
• Additional Spending in Gas/Groceries After the Cap: Earns 2% cashback.
• All Other Purchases: Assuming an additional $10,000 annually at 2%, that’s $200.

Total Annual Cashback for High Spenders: $1,200 (capped categories) + $200 (additional purchases) = $1,400 annually.

Keep in mind that certain purchases, such as groceries at wholesale clubs, superstores like Walmart, or alcohol retailers, do not qualify for the 4% cashback rate. With careful spending, the SimplyCash Preferred Card makes it easy to earn hundreds—or even over a thousand—dollars in cashback each year.

How to Get Approved

Although there is no publicly stated minimum credit score or income requirement, we recommend a good credit score of 670 or higher and a moderate to high annual income, generally between $50,000 and $100,000. Dual-income households or mid-level professionals often meet these requirements. Applicants must also meet the age of majority in their province or territory.

This card is designed for responsible borrowers who can maximize its rewards.

Ready to apply? Check your eligibility and get started here.

How to Redeem Cashback

Redeeming cashback is effortless with the SimplyCash Preferred Card. Rewards are automatically credited to your September statement every year, ensuring you never miss out on your earnings. This simplicity is a major advantage for busy professionals who want a hands-free rewards experience.

Unlock your rewards potential with the SimplyCash Preferred Card. Apply now.

Amex Experiences and Benefits

American Express is known for its exclusive perks, and the SimplyCash Preferred Card is no exception. Cardholders enjoy Front Of The Line presale access, allowing them to secure tickets to popular events before the general public. Amex Offers provide discounts and savings on dining, shopping, and entertainment, with new deals added regularly.

Insurance Coverage

The SimplyCash Preferred Card comes with comprehensive insurance coverage, making it a reliable companion for travellers and shoppers. Key benefits include:

• Travel Medical Insurance: Up to $5,000,000 in coverage for eligible medical expenses when travelling outside your province or country (for trips up to 15 days for those under 65).
• Flight and Baggage Delay Insurance: Up to $500 in coverage for delays of four or more hours.
• Car Rental Theft and Damage Insurance: Coverage for vehicles valued up to $85,000.
• Purchase Protection: Protection for up to 90 days on eligible purchases, with a limit of $1,000 per incident.

Feel secure with comprehensive insurance coverage. Apply for the SimplyCash Preferred Card today.

How to Earn the Referral Bonus

The SimplyCash Preferred Card offers a valuable referral program. Cardholders can earn $200 cashback for every friend or family member who successfully applies for the card. There is no cap on the number of referrals, making this a powerful way to earn additional rewards.

Sharing your referral link through social media, email, or word of mouth can help you maximize these earnings. Each referral brings you closer to even greater cashback rewards.

Start earning referral bonuses today by sharing the SimplyCash Preferred Card.

Conclusion: Is the SimplyCash Preferred Card Right For You?

The Amex SimplyCash Preferred Card is an excellent choice for young professionals, families, and frequent travellers who want to maximize rewards on everyday spending. With its 4% cashback on gas and groceries, 2% cashback on all other purchases, and a generous welcome bonus, this card offers outstanding earning potential.

Beyond cashback, the SimplyCash Preferred Card delivers exceptional value through comprehensive insurance coverage and exclusive perks like Amex Experiences and Front Of The Line® access. For just $9.99 per month, it provides premium benefits without the hefty price tag.

If you’re looking for a reliable and rewarding cashback card that fits seamlessly into your lifestyle, the SimplyCash Preferred Card is a top choice. 

Don’t wait—start earning 4% cashback and take advantage of this card’s incredible benefits today.