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The SimplyCash Preferred Card from American Express is offering new Canadian cardholders a generous improvement on earnings. New cardholders are able to receive 10% cash back on eligible purchases as opposed to the standard 5%. This increased offer is for a limited-time only.
New SimplyCash Preferred Card from American Express cardholders will earn the 10% cash back on eligible gas, grocery and restaurant purchases in Canada for the first six months of cardmembership for up to a maximum of $300 CAD cash back. In addition, the eligible purchases must be made in Canada — international purchases aren’t eligible for the bonus. The previous 5% cash back offer was also capped at $300 CAD. But now that you earn 10% cash back on select purchases, you can reach the $300 CAD maximum twice as fast — you now only have to spend $3,000 CAD as opposed to $6,000 CAD.
When the welcome rate of 10% cash back ends after your first six months, you’ll then earn at a rate of 2% back on eligible purchases. When you’re earning at the 2% rate, there’s no limit to the amount of cash back you can earn, and again, international purchases won’t count towards cash back rewards.
In addition to the cash back earning structure, you’ll also get access to memorable experiences with American Express Invites, extensive insurance coverage and 24/7 customer service. The insurance coverage that comes with the card includes emergency medical insurance (out of province/country), flight delay insurance and more. The card also comes with a $99 CAD annual fee.
Overall, earning 10% cash back is a huge bonus — no matter how you look at it. Note that because this is a Canadian card from American Express, you must be a Canadian resident and have a Canadian credit file. So, unfortunately, US residents are not eligible to take advantage of the card’s elevated welcome bonus earning structure.
The American Express Platinum card has some of the best perks out there: cardholders enjoy the best domestic lounge access (Delta SkyClubs, Centurion Lounges, and Priority Pass), a $200 annual airline fee credit as well as up to $200 in Uber credits, and mid-tier elite status at SPG, Marriott, and Hilton. Combined with the 60,000 point welcome offer -- worth $1,140 based on TPG's valuations -- this card is a no-brainer for frequent travelers. Here are 5 reasons you should consider this card, as well as how you can figure out if the $550 annual fee makes sense for you.
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
- $550 annual fee.
- Terms Apply.
- See Rates & Fees