SimplyCash™ Preferred Card from American Express vs Amazon.ca Rewards Mastercard®: Which one is better?
SimplyCash™ Preferred Card from American Express
4.5
RECOMMENDED CREDIT SCORE*
Amazon.ca Rewards Mastercard®
3.1
RECOMMENDED CREDIT SCORE
Rewards Breakdown
Annual Rewards
$513.59
Welcome Bonus
$400
Annual Fee
$119.88
First Year Value
$793.71
$393.71 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$251.84
Welcome Bonus
$150
Annual Fee
$0
First Year Value
$401.84
$251.84 in years after
Based on $2,000/mo average spending and assuming you are an Amazon Prime member as the primary account holder. Calculate your rewards.
Insurance Included*
Purchase Protection
90 days
Extended Warranty
1 year
Emergency Out of province Medical
$5M/insured Person
Flight Delay
$500
Baggage Delay
$500
Hotel Burglary Insurance
$500
Lost or Stolen Baggage
$500
Travel Accident
$100,000.svg)
Car Rental Damage & Theft
$85K up to 48 days
Mobile Device Insurance
$1000
Insurance Included
Purchase Protection
90 daysExtended Warranty
1 year
Extra Benefits*
American Express Experiences
Extra Benefits
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car
Trip and legal Assistance
Yes
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Annual Fee*
$119.88
Annual Fee
$0
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
You can earn a $40 statement credit for each monthly billing period in which you spend $750 on purchases with your card during the first 10 months.
Welcome Bonus
Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for up to 6 months. Up to $150 cashback on top of the normal cashback earned.
Rewards Rate*
- 4% cash back on gas
- 4% cash back on groceries (maximum $1,200 annually)
- 2% cash back on all other credit card purchases
Rewards Rate
- 2.5% cashback on Amazon.ca, Whole Foods and foreign currency transactions IF a prime member
- Only 1.5% on Amazon.ca and Whole foods and 1% on foreign currency transactions IF not a prime member
- 1% cashback on everything else
Is this card worth it?
The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
Is this card worth it?
If you are a Prime member and want to maximize your cashback on your Amazon purchases, then this card is the best option for that specific purchase category. However, for other purchases, many other cards offer better benefits and rewards.
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
Pros
- If you are a Prime member, the 2.5% cashback offered on Amazon purchases is unbeatable in terms of rewards compared to other credit cards.
- The 2.5% cashback on all foreign currency transactions helps to offset the extra 2.5% fee.
Cons
- For a card with an annual fee, the insurance coverage could have been higher
- American Express has a lower merchant acceptance compared to Visa or Mastercard
Cons
- It offers very little on non-Amazon and non-Whole Foods purchases, with many other well-rounded credit cards out there that offer much more.
- Very limited benefits.
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Other Comparisons
Other Comparisons
vs American Express Cobalt® Card
vs Rogers Red World Elite® Mastercard®
vs Simplii Financial™ Cash Back Visa* Card
vs American Express® Green Card
vs PC World Elite Mastercard
vs Tangerine Money-Back Credit Card
vs CIBC Costco Mastercard
vs Scotia Momentum® Visa* Card
vs American Express® Aeroplan®* Card
vs SimplyCash® Card from American Express
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