Walmart Rewards™ Mastercard® vs SimplyCash™ Preferred Card from American Express: Which one is better?

Walmart Rewards™ Mastercard®
1.7

SimplyCash™ Preferred Card from American Express
4.6
Welcome Bonus
$45 on Approval
Welcome Bonus*
Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
Rewards Breakdown
Annual Rewards
$242.9
First Year Bonus Value
+
$45
Annual Fee
-
$0
First Year Value
$287.9
$242.9 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$534.23
First Year Bonus Value
+
$200
Annual Fee
-
$119.88
First Year Value
$614.35
$414.35 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards
- 1.25% cashback on Walmart store and Walmart.ca purchases
- 1% cashback on all credit card purchases.
How to Earn Rewards*
- 4% cash back on eligible gas station purchases in Canada
- 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
- 2% cash back on all other eligible purchases
Insurance Included
Purchase Protection
90 days
Insurance Included*
Purchase Protection
90 daysLost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
$85K up to 48 daysTravel Accident
$100,000Mobile Device Insurance
$1,000Extended Warranty
1 yearHotel Burglary Insurance
$500Emergency Out of province Medical
$5M/insured PersonFlight Delay
$500
Extra Benefits
N/A
Extra Benefits*
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Interest Rates
Purchase:
20.89% - 26.99%
Cash Advance:
22.97% - 27.99%
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee
$0
Annual Fee*
$119.88
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Is this card worth it?
The Walmart Rewards Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It offers 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores and the ability to pay in installments. Additionally, you can earn up to $45 in Walmart Reward Dollars when you sign up. However, the rewards can only be redeemed at Walmart, and the card lacks additional benefits or insurance coverage beyond purchase assurance and extended warranty.
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.
Pros
- Installment Payments: Allows you to pay for Walmart purchases in installments over six months.
- Walmart Rewards: Earn 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores.
- Sign-Up Bonus: Get up to $45 in Walmart Reward Dollars when you sign up.
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
- 10 different insurance types included
Cons
- Limited Redemption: Rewards can only be redeemed at Walmart and Walmart.ca.
- Lower Rewards: Offers lower rewards compared to other store and cashback credit cards.
- Minimal Benefits: No additional benefits or insurance coverage aside from purchase assurance and extended warranty.
Cons
- Cash back is only paid out to you once a year
- American Express has a lower merchant acceptance compared to Visa or Mastercard


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