SimplyCash Preferred Card from American Express

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🎁 UP TO $250 IN BONUS VALUE

The AMEX SimplyCash Preferred Card offers:

  • 4% cash back on gas
  • 4% cash back on groceries
  • 2% cash back on all other purchases
  • Two years of phone protection up to $1,000 per phone
  • Extensive travel insurance, including emergency medical coverage up to $5 million

These features make the AMEX SimplyCash Preferred Card one of the best cash back credit cards available in Canada for 2024. Its combination of high cash back rates, comprehensive travel insurance, and phone protection plan offers exceptional value for its $10 monthly fee.

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If you’re interested in maximizing your cash back and taking advantage of these benefits, consider signing up for the AMEX SimplyCash Preferred Card.

Now, let’s dive into the features and benefits that make this card stand out.

Fees

The AMEX SimplyCash Preferred Card has a monthly fee of $10, translating to an annual fee of $120. While this is a premium card, it is more affordable compared to other high-end cards like the AMEX Platinum Card, which has an annual fee of $700. The $10 monthly fee is justified by the numerous benefits and features that this card offers.

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Cash Back Rates

The cash back rates for the AMEX SimplyCash Preferred Card are impressive:

  • 4% cash back on gas
  • 4% cash back on groceries
  • 2% cash back on all other purchases

These rates are significantly higher than those offered by the no-fee version of the card, which provides:

  • 2% cash back on gas
  • 2% cash back on groceries
  • 1.25% cash back on all other purchases

For many, the higher cash back rates alone make the $10 monthly fee worthwhile, as the additional cash back can easily offset the cost of the card.

Phone Protection for 2 Years

One of the standout features of the AMEX SimplyCash Preferred Card is its phone protection plan. Cardholders receive up to $1,000 in coverage for phone damage or theft for two years from the date of purchase, provided the phone was bought using the AMEX card. This coverage eliminates the need for expensive protection plans like Apple Care+, which costs $250 for two years.

To take advantage of this benefit, cardholders must notify AMEX customer service before getting their phone repaired and submit an online claim. This feature alone can justify the card’s monthly fee, especially for those prone to phone accidents.

Travel Coverage

The AMEX SimplyCash Preferred Card offers extensive travel coverage, making it an excellent choice for frequent travelers. The card includes:

  • Emergency medical insurance up to $5 million for the first 15 days of travel
  • Flight delay insurance
  • Baggage delay insurance
  • Hotel burglary insurance
  • Lost baggage insurance
  • Travel accident insurance up to $100,000
  • Car rental insurance

To qualify for these benefits, cardholders must pay for their travel expenses with the AMEX SimplyCash Preferred Card. The travel coverage, combined with the 2% cash back on all purchases, makes this card an excellent option for travelers.

Sign Up Bonus

New cardholders can earn up to $400 in sign-up bonuses. For the first 10 months of card ownership, cardholders will receive an additional $40 in cash back for each month they spend at least $750. To maximize this bonus, users should direct their everyday spending to this card during the initial 10 months.

This bonus can significantly enhance the card’s value, making it an attractive option for those looking to maximize their cash back earnings early on.

HOW TO APPLY