Quick overview of the SimplyCash® Card from American Express
Looking for hassle-free rewards without the sting of annual fees? The American Express SimplyCash® Card delivers straightforward value with 1.25% cashback on every purchase. While this no-fee card doesn't require a specific income to qualify, its standout feature is simplicity – there are no complicated reward tiers or category bonuses to track. Factor in a generous welcome offer, and you've got a compelling everyday card.
Who’s the Amex SimplyCash Card for?
The SimplyCash Card is perfect for those who want a straightforward cash-back card without the bells and whistles. If you're regularly swiping your card for groceries, gas, and dinners with friends, but don't want to deal with complicated reward structures, this card delivers exactly what you need. It's designed for the financially savvy who prefer smart money management over flashy perks. And if you value exceptional customer service, Amex's reputation for taking care of its cardholders is a bonus.
Pros and cons
Pros
-
No annual fee for primary or additional cardholders
-
Solid regular cash back rate on all eligible purchases - up to 2% cash back on all eligible purchases
-
No limit to the amount of cash back you can earn at the base rate
Cons
-
Cash back is only applied as a statement credit once a year
-
Amex cards aren’t accepted by every merchant
Check where Amex cards are accepted in Canada.
American Express SimplyCash welcome bonus
Related: Best credit card sign-up bonuses and promotions
Earning cash back with the Amex SimplyCash
With the SimplyCash® Card from American Express, earn 2% back on eligible gas station purchases in Canada, 2% back on eligible groceries in Canada (up to $300 cash back annually) (up to 2), and 1.25% cash back on all other eligible purchases—the only stuff that won’t get cash back are non-purchases, like cash advances, balance transfers, etc.
That 1.25% is very respectable for a base earn rate. The good news is that there’s no limit to the amount of cash back you can accrue at the base earn rate.
Redeeming cash back with the American Express SimplyCash
Here’s how you can redeem your American Express Cash Back Rewards.
For statement credit:
- Log into your American Express account and select "Use Reward Dollars."
- Choose how many Reward Dollars you want to apply toward your next statement balance. The credit will usually show up within three days.
- Keep in mind that this credit won’t count toward your minimum payment due.
For shopping on Amazon:
- Head to www.amazon.com/amexcashback and follow the steps to link your Amex account to your Amazon account.
- Once linked, you can use your cash back to pay for all or part of your purchases at checkout.
The cashback you accumulate is applied as a credit against your card’s statement once a year, in September.
Related: Best Cash Back Cards in Canada
Amex SimplyCash Insurance coverage
Insurance perks for the SimplyCash® Card from American Express are limited, which is unsurprising for a card with no annual fee. Here's what you get in insurance coverage:
- Purchase protection and extended warranty: Manufacturers’ warranties on items purchased with the card are extended by up to 1 additional year, and items are insured with Purchase Protection if they’re damaged or stolen within 90 days of purchase.
- Travel accident insurance: Get up to $100,000 in insurance coverage for accidental death and dismemberment when you fully charge your plane, train, ship or bus tickets to your SimplyCash® Card.
- Extended warranty: Eligible items you buy with the card get an extra year added to the original manufacturer's warranty.
Related: Which credit cards offer the best extended warranty and purchase protection?
Other notable perks of the Amex SimplyCash Card
You can earn up to $375 annually through the Amex referral bonus program by recommending the SimplyCash® Card to friends and family.
Another upside to being an Amex cardholder is that you’ll get access events and special offers curated for Cardmembers with American Express® Experiences.
Related: Credit cards with referral bonuses
What people have to say about this card
Some people find it frustrating to constantly ask if a store takes Amex, although others say acceptance is getting better in many places. Because of this, it’s often suggested to use the Amex card alongside another card that’s accepted more widely.
A Reddit user shared on PersonalFinanceCanada, that they are interested in keeping the AMEX SimplyCash® for its flat cashback on all other purchases. They mentioned that they don't spend a lot right now but may consider upgrading to the SimplyCash® Preferred card in the future.
In short, the SimplyCash Preferred is a good choice if you can make the most of its benefits, but it's smart to have a backup card for places that don’t take Amex.
How does the Amex SimplyCash Card compare to the competition?
*Terms and Conditions apply
If you want to stick with Amex and want a higher cash back rate, you can check out the Simplycash® Preferred Card from American Express.
Concerned that your Amex won’t be accepted everywhere you shop? Before you apply for the SimplyCash® Card from American Express check out some of the other no annual fee cash back options in Canada.
If groceries are your biggest monthly expense you should probably go with the BMO CashBack® Mastercard®*, which earns 3% back on up to $500 spent on groceries per month*, i.e., up to $15 in monthly cash back. Or if your biggest expenses are in other categories, like gas or restaurants, you could pick the Tangerine Money-Back Credit Card, which allows you to earn 2% back in two spending categories of your choice, or three categories if you deposit the cash back you earn into a Tangerine savings account.
Both alternatives are Mastercards, so they’ll be accepted at the vast majority of retailers. And some Canadian retailers, like Costco and No-Frills, *only* accept Mastercards, to the exclusion of Visa or Amex.
*Terms and conditions apply
vs. CIBC Dividend® Visa Infinite* Card review
CIBC Dividend® Visa Infinite* Card
4.2
10% back†
Welcome offerGood
Suggested credit scoreGet a first-year annual fee rebate for you and up to three Authorized Users† and earn 10% cash back for the first 4 statements on net purchases of up to $3,000†.
Pros
-
First-year annual fee rebate
-
10% cash back welcome bonus up to $3,000 spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Eligibility
Good
Recommended Credit Score
$60,000†
Required Annual Personal Income
$100,000†
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000†
Required Annual Household Income
$100,000†
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
cash back on eligible gas, EV charging, and grocery purchases.†
4%
cash back on eligible transportation, dining purchases and recurring payments†
2%
cash back on all other purchases†
1%
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
10 cents
20.99%†
Purchase APR non-Quebec residents†
22.99%†
Balance Transfer Rate non-Quebec residents†
22.99%†
Cash Advance APR non-Quebec residents†
$120
Annual Fee First year rebated. Each additional card is $30 per year, max 3.
Purchase APR
20.99%†
Balance Transfer Rate
22.99%†
Cash Advance APR
22.99%†
Annual Fee
$120
Pros
-
First-year annual fee rebate
-
10% cash back welcome bonus up to $3,000 spend
-
4% cash back on gas, electric vehicle charging and grocery stores
-
2% cash back on transportation, dining and recurring payments
-
High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Eligibility
Good
Recommended Credit Score
$60,000†
Required Annual Personal Income
$100,000†
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$60,000†
Required Annual Household Income
$100,000†
4%
cash back on eligible gas, EV charging, and grocery purchases.†
2%
cash back on eligible transportation, dining purchases and recurring payments†
1%
cash back on all other purchases†
10 cents
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
cash back on eligible gas, EV charging, and grocery purchases.†
4%
cash back on eligible transportation, dining purchases and recurring payments†
2%
cash back on all other purchases†
1%
save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
10 cents
20.99%†
Purchase APR non-Quebec residents†
22.99%†
Balance Transfer Rate non-Quebec residents†
22.99%†
Cash Advance APR non-Quebec residents†
$120
Annual Fee First year rebated. Each additional card is $30 per year, max 3.
Purchase APR
20.99%†
Balance Transfer Rate
22.99%†
Cash Advance APR
22.99%†
Annual Fee
$120
The CIBC Dividend® Visa Infinite offers higher cash back on groceries and gas but comes with a $120 annual fee. It’s better suited for those who spend heavily in those categories and can maximize the cash back to outweigh the fee.
Is it worth it?
The SimplyCash® Card from Amex is an easy way to earn back on most of your spending. As with all Amex cards, its primary caveat is that it’s not accepted in all stores, with particularly low acceptance rates in rural areas and smaller mom-and-pop shops. That’s why it’s a good idea to always have another credit card handy, preferably one that complements your SimplyCash Amex credit card.
Amex SimplyCash Eligibility requirements
The SimplyCash® Card is available to most Canadians as long as you're of legal age in your province and have some Canadian credit history. While Amex doesn't share exact income or credit score requirements, you’ll generally need a good credit score to be approved. Since there's no strict income requirement, it's easier to qualify for than cards with higher income demands.
- Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. 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.
Zandile Chiwanza is a personal finance journalist, covering a wide range of money-related topics, including real estate, mortgages, insurance, interest rates and credit cards.
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†Terms and Conditions apply.