Am I eligible?
To get this card, you must also:
Note: This information is only intended as a guide. The final decision is up to the bank and your application could still be rejected even if you can answer 'Yes' to all the minimum criteria above. Always consider your options and your financial situation before you apply for a credit card.
What the Critics Are Saying...
- Keph Senett, MoneySenseWhen it comes to cash back cards, the earn rate is arguably the most important metric to consider—and, with a 2% base rate and a 4% bonus rate on gas and groceries, the SimplyCash Preferred card easily climbs the ranks as one the best cash back credit cards in Canada.
- Kevin Nishmas, Courtney Reilly-Larke, ForbesThe SimplyCash® Preferred Card from American Express is a standout cash back credit card, thanks to its accelerated earnings on gas and groceries and its above average base rate. Plus, it offers the chance to earn $400 in statement credits in the first 10 months, mobile device protection, unique exp...
- Jordan Bishop, Yore OysterThe SimplyCash Preferred Card from American Express is a great option for anyone looking for comprehensive insurance and one of the best cash back rates in Canada. With the SimplyCash Preferred Card from American Express, you'll be fully covered in case of a medical emergency, when travelling abroad...
- Rewards CanadaThe SimplyCash® Preferred Card from American Express is by far the best true cash back rewards card in Canada. There is no matching its earn rates and welcome bonus. Combine this with a good suite of insurance benefits and you have an excellent card to have in your wallet - either as your primary da...
- Stefani Balinsky, HardbaconOverall, the AMEX SimplyCash Preferred Credit Card is a very good card. It is exceptionally easy to understand. The card rewards you with 2% cash back on all your net purchases. It has a referral system that lets you earn cash back when you refer a friend. There is nothing complicated to remember, l...
Details
| Interest Rates | |
|---|---|
| Regular APR Interest Rate | 20.99% |
| Balance Transfer Interest Rate | 21.99% |
| Cash Advance Interest Rate | 21.99% |
| Rates & Fees | |
| Annual Fee |
$119.88 Charged monthly ($9.99 per month) |
| Balance Transfer Fee |
3% Maximum |
| Cash Advance Fee | $2.75 |
| Foreign Transaction Fee |
2.5% Transactions made in a foreign currency will be converted and posted to your account in Canadian currency. |
| Over Limit Fee | $29.00 |
| Late Payment Fee | $0.00 |
| Promotions | |
| Sign up bonus |
In your first 10 months as a new SimplyCash® Preferred Card from American Express 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. |
| Rewards | |
| All Purchases | 2% cash back |
| Restaurants | No |
| Gas | 4% cash back |
| Groceries | 4% cash back (on first $30000 spent) |
| Hotels | No |
| Travel | No |
| Pharmacy | No |
| Bills | No |
| Features & Benefits | |
| Additional Card Holders | Yes |
| Travel Accident Insurance | Yes |
| Car Rental Insurance | Yes |
| Car Rental Discount | No |
| Extended Warranty | Yes |
| Purchase Protection | Yes |
| Zero Liability | Yes |
| No Foreign Transaction Fees | No |
| Emergency Assistance | Yes |
| Concierge Service | No |
| Price Protection | No |
| Fraud Protection | Yes |
| Free Credit Scores | No |
| Wireless Payments | Apple Pay, Google Pay |
| Virtual Cards | No |
| Additional Benefits |
|
| Eligibility | |
| Minimum Security Deposit | $0 |
| Minimum Age |
18 years in AB, MB, ON, PE, QA, SK. 19 years in all other provinces. |
| Minimum Personal Income |
$15,000 per year |
| Temporary Residents | No |
| More | |
| Additional comments | - |
| Terms & Conditions | Official Terms & Conditions |
| Suggest a correction |
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