SimplyCash™ Preferred Card from American Express

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The SimplyCash Card from American Express is a solid choice it you’re looking to avoid an annual fee. The base rewards rate is decent, and you’ll also get bonus rewards on certain purchases for the first six months you have the card.

Your cash rewards will be issued to you as a statement credit once a year.

If you need help paying off high-interest credit card debt, the card offers 1.99% interest on balance transfers for the first six months, giving you some time to reduce your balance at a rock-bottom rate.

If you want even more rewards, check out its sister card, the SimplyCash Preferred Card from American Express.

That card doesn’t restrict your bonus rewards during the first six months to certain purchases only, and it offers almost double the cash back going forward.

That said, SimplyCash Preferred Card from American Express charges an annual fee whereas this card does not.

  1. Cash Back Rate: New Card Members can earn 5% cash back on all eligible purchases at gas stations, grocery stores and restaurants in Canada (up to $250 cash back) for the first six months. Earn 1.25% cash back on everything else.
  2. Great Added Benefit: No limit on the amount of cash back you can earn after the welcome rate ends 
  3. Balance Transfer Offer: 0%
  4. Foreign Trans Fee: 2.5%
  5. Intro Transfer APR: 1.99% in the first 6 months
  6. Non Intro Transfer APR: 22.99% on funds advance
  7. Late payment fee – $25
  8. Charge: 30% annual interest rate applies to balance not paid in full
  • Terms and Conditions apply




American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.



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