SimplyCash® Card from American Express vs American Express Platinum Card®: Which one is better?
SimplyCash® Card from American Express
3.5
RECOMMENDED CREDIT SCORE*
American Express Platinum Card®
4
RECOMMENDED CREDIT SCORE*
Rewards Breakdown
Annual Rewards
$301.46
Welcome Bonus
$100
Annual Fee
$0
First Year Value
$401.46
$301.46 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$570.43
American Express Membership Rewards
Welcome Bonus
$0
American Express Membership Rewards
Annual Fee
$799
First Year Value
-$228.57
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Travel Accident
Up to $100,000
Purchase Protection
90 days or theft up to $1,000 per occurrence
Extended Warranty
1 year
Insurance Included*
Travel Accident
Up to $100,000Purchase Protection
90 days or theft up to $1,000 per occurrenceExtended Warranty
1 year
Emergency Out of province Medical
$5 Million per insured, 15 days
Trip Cancellation
$2500 per person, $5000 combined
Trip Interruption
$2500 per person, $6000 combined
Flight Delay
$1000 after 4 hour delay
Baggage Delay
$1000 after 6 hour delay
Hotel Burglary Insurance
$1000
Lost or Stolen Baggage
$1000.svg)
Car Rental Damage & Theft
$85K, up to 48 days
Extra Benefits*
American Express Experiences
Front Of The Line® Presales, Front Of The Line® Reserved tickets and more.
Extra Benefits*
American Express Experiences
Front Of The Line® Presales, Front Of The Line® Reserved tickets and more..svg)
Travel Credit
$200
Dining Credit
$200 at Select Restaurants
Nexus Application
$100 statement credit every 4 years
Airport Lounge - American Express Global Lounge
Unlimited Access for you and a Guest!
Complimentary Hotel Benefits
Hotels booked American Express Travel.svg)
Status lift
Upgrade to Hilton Honors Gold StatusStatus lift
Upgrade to Marriott BonvoyTM Gold Elite status
Airport Benefits
At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park.svg)
Concierge Services
Trip and legal Assistance
Extra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offers
Interest Rates*
Purchase:
21.991
Cash Advance:
21.991
Interest Rates*
Purchase:
21.99% - 30%2
Cash Advance:
21.99% - 30%2
Annual Fee*
$0
Annual Fee*
$799
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*
Earn a $10 statement credit for each monthly billing period in which you spend $300 on your SimplyCash® Card from American Express during your first 10 months as a new Cardmember. This can total up to $100 in statement credits within the first 10 months. This offer is not available to current or former Cardmembers of this Card. Additional terms apply.
Welcome Bonus*
Earn 70,000 points after spending $10,000 on your Card within the first 3 months as a new Platinum® Cardmember. Earn an additional 30,000 points when you make a purchase between 14 and 17 months of Cardmembership. Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Rewards Rate*
- 2% cash back on gas and groceries (up to $15,000 in purchases combined)
- 1.25% cash back on all other purchases
Rewards Rate*
- 2x points per $1 spent on eligible dining & food delivery purchases (restaurant, fast food, coffee shop, food delivery)
- 2x points per $1 spent on eligible travel purchases (flights, hotels, tours and more)
- 1x point per $1 spent for all other purchases
Loyalty Program*
N/A
Loyalty Program*
Point Redemption Options*
Not Applicable
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / point
Statement Credits
1¢ / point
Gift Cards
0.765¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Is this card worth it?
The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.
Is this card worth it?
If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.
Pros
Pros
- Offers more perks than any other credit card in Canada, catering to premium users who value extensive benefits.
- Enjoy $400 in annual travel and dining credits, which can offset some of the card's cost.
- Gain unlimited access to over 1,300 airport lounges worldwide, enhancing your travel experience.
- Multiple options for redeeming points for high value, giving you flexibility in how you use your rewards.
- Includes 11 types of insurance coverage, offering comprehensive protection for cardholders.
Cons
Cons
- As with other American Express cards, it may have lower acceptance in some locations compared to other networks.
- The high annual fee of $799 may be a barrier for some users, especially those who do not fully utilize the card's benefits.
- Some benefits are limited to specific airports and hotels.
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