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 Amex SimplyCash card is for anyone who's looking for:
- Straightforward cash-back rewards: The SimplyCash Card is perfect for those seeking a no-fuss cash-back experience without complicated reward structures.
- Ideal for everyday spending: Great for regular purchases like groceries, gas, and dining out with friends.
- Smart money management: Designed for the financially savvy who prioritize simplicity and practicality over flashy perks.
- Exceptional customer service: Enjoy the peace of mind that comes with American Express's renowned cardholder support.
Pros and cons
- 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
- 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
Earn a bonus 5% cash back on purchases in your first 3 months (up to $2,000 in purchases).
That’s on top of your everyday cash back earn rates.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Related: Best credit card sign-up bonuses and promotions
With the SimplyCash® Card from American Express, earn 2% cash back on eligible gas station purchases in Canada, 2% cash back on eligible groceries in Canada (up to $300 cash back annually) (up to ), 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.
Here’s how you can redeem your American Express Cash Back Rewards.
For statement credit:
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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
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.
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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?
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
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?
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.
Disclosures:
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.
*Terms and conditions apply
Amex SimplyCash vs. the CIBC Dividend® Visa Infinite* Card
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.
10% cash back†
Welcome Bonus
$878
First Year Value
$558
Annual Value
Welcome Bonus: Earn 10% cash back for the first 4 statements on net purchases of up to $2,000.† Plus, get a first-year annual fee rebate for you and up to three Authorized Users.†
Get this card if you...
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want high cash back rates on groceries, gas and recurring bills
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value comprehensive insurance benefits
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value a great welcome offer
Annual Fee & Annual Interest Rates
$120
Annual Fee
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
Our Take
The CIBC Dividend® Visa Infinite* Card is a cash back credit card offering elevated earn rates on categories such as groceries, gas, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection, and optional insurance coverages. It's a good option for those seeking to maximize cash back on everyday spending.
Eligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
First-year annual fee rebate†
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10% cash back welcome bonus up to $2,000† spend
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4% cash back on gas, electric vehicle charging and grocery stores
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2% cash back on transportation, dining and recurring payments
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High annual spending cap on benefits ($20,000 in bonus categories or $80,000 total)
Cons
-
High income requirement
-
Sparse travel insurance offering
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
25.99%†
Penalty
Fees
$120
Annual Fee
2.50%†
Foreign Transaction
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
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.†
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get 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 $2,000†.
Our Take
The CIBC Dividend® Visa Infinite* Card is a cash back credit card offering elevated earn rates on categories such as groceries, gas, transportation, dining, and recurring payments. Cardholders benefit from features like purchase security, extended protection, and optional insurance coverages. It's a good option for those seeking to maximize cash back on everyday spending.
Eligibility
Good (620 - 670)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
First-year annual fee rebate†
-
10% cash back welcome bonus up to $2,000† 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
Annual Interest Rates
20.99%†
Purchase
22.99%†
Cash Advance
22.99%†
Balance Transfer
25.99%†
Penalty
Fees
$120
Annual Fee
2.50%†
Foreign Transaction
$29
Over The Limit Penalty
$42.5
Return Penalty
Rewards cash back
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.†
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Get 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 $2,000†.
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.
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.
Disclosures:
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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.
