4.6
/5
American Express
SimplyCash™ Preferred Card from American ExpressCash Back Calculator
Up to $250 ($200 in first year)
Our Take
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.
Apply with Confidence — won't impact your credit score
Card Details
Interest Rates
Purchase: 21.99%*
Cash Advance: 21.99%*
Annual Fees
Main Card: $119.88 ($9.99 Monthly)⁕
Additional Cards: $0
⁕ Annual fee for Quebec residents is $119, charged yearly.
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.
Annual Income
Personal: N/A
Household: N/A
Credit Score Estimate
Card Type
Credit
Our Rating
4.6/5
Institution
American Express
Awards
Best Gas Credit Card
2026
How You 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 & Benefits
Insurance
Coverage
Travel Medical Insurance (64 & under)
Flight Delay
Baggage Delay
Hotel Burglary Insurance
Lost or Stolen Baggage
Common Carrier Travel Accident Insurance
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Car Rental Damage & Theft
Mobile Device Insurance
Purchase Protection
Extended Warranty
Benefits
Details
Amex Experiences™
Pros & Cons
Pros
- High cashback rates
- Solid base rate
- Comprehensive insurance
- Instant decision. No credit impact.
Cons
- Annual cashback redemptions
- Lower acceptance
- Annual fee
Legal
*Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.