SimplyCash™ Preferred Card from American Express
Rewards Calculator Algorithm
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Total Spending
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$0
Card Details
Annual Rewards
$513.71
First Year Bonus
$400
Annual Fee
$120
First Year Value
$793.71
$393.71 in years after
Interest Rates
Cash Advance: 21.99%*
Purchase: 21.99%*
Annual Fee
$119.88
Annual Income
Personal: N/A
Household: N/A
Credit Score
Very Good
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.
Card Type
Cash Back
Our Rating
4.5/5
Institution
American Express
Rewards†
- 4% cash back on gas
- 4% cash back on groceries (maximum $1,200 annually)
- 2% cash back on all other credit card purchases
SimplyCash™ Preferred Card from American Express Cash Back Calculator
Based on average spending
Rewards Ranking
Rewards Breakdown
Gas
$79.49
Groceries
$77.4
All other purchases
$356.82
Annual Fee
- $120
Net Annual Rewards
$393.71
(after fees)
Rewards Summary
Net Annual Rewards
$393.71
(after fees)
Welcome Bonus
$400
First Year Value
$793.71
Insurance & Benefits†
Insurance
Coverage
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
Purchase Protection
90 days
Extended Warranty
1 year
Benefits
Details
American Express Experiences
Pros & Cons
Pros
- Highest cashback rate on groceries and gas in Canada
- Great base cashback rate for all purchases
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