Canada’s Amex Rewards Guide

5 x Earn up to 15,000 bonus points with the Amex Cobalt Card

Apply Now!

Earn 15,000 bonus points with the Amex Cobalt Card

Apply Now!
PointsWise - AMEX Card Travel Tips for Canadians
Home » AMEX Cards Canada » Cashback Credit Cards » Earn Big: 4% Cashback on Gas, Groceries & More with Amex SimplyCash Preferred Card (Review)

Earn Big: 4% Cashback on Gas, Groceries & More with Amex SimplyCash Preferred Card (Review)

Photo of author
Britt Phoenix
This article contains affiliate links. If you apply through them, PointsWise may earn a commission at no extra cost to you. American Express is not responsible for the content on this site. Terms apply.
SimplyCash Preferred Card card image
Apply for the SimplyCash Preferred Card

Instant decision available with no impact to your credit score.

SimplyCash Preferred Card At a Glance

Best choice for: Higher-Rate Cash Back

Welcome Bonus
Up to $250 cash back
Top Earn Rate
4% on gas
Points Currency
cashback
Annual Fee
$9.99/month
$9.99/month - equals $119.88/year.
Quebec residents are billed $119.88 annually.
Target Market
Consumer
Card Style
Plastic
Card Type
Credit Card

Quick Verdict

The SimplyCash Preferred Card is for people who prefer cash back but spend enough to justify an annual fee. It is especially appealing if you want predictable rewards without learning a points program. If your monthly spending is high enough, the stronger cash back rate can make more sense than sticking with a no-fee card.

Who It’s For

  • High everyday cash back spenders
  • Families with gas and grocery spending
  • Cardholders wanting simple premium cash back
  • Canadians who prefer predictable rewards

How to Get Approved for the SimplyCash Preferred Card

Approval Difficulty

720+ (Good)

recommended credit score

Canada Credit Card Approval - Standard Approval, Recommended 720+ (Good) Credit Score

Standard Approval

Based on typical approval patterns in Canada.
Approval is not guaranteed.

How to get approved for an Amex card in Canada.

Requirements

  • Age of majority: Canadian resident, age 18 or 19+ depending on your province/territory
  • Credit history: 6+ months minimum credit history of low utilization and on-time payments
  • Income requirement: None publicly specified
  • Approval speed: Often instant with Amex Apply With Confidence
Apply Now

Instant decision available with no impact to your credit score.

SimplyCash Preferred Card Welcome Bonus Tracker

Track how today’s credit card welcome bonus compares against past offers, so you can apply with confidence.

PointsWise Welcome Bonus Tracker - Tracking Credit Card Welcome Bonuses in Canada

Current Welcome Bonus

$250

cashback

You can earn up to $250 cash back: 10% cash back on all purchases after spending $2,000 in the first 3 months, plus a $50 statement credit cash back after making a purchase in month 13 of Cardmembership.

SimplyCash Preferred Card card image
Apply Now

Instant decision available with no impact to your credit score.

Typical Offer

This is a typical welcome bonus for this card.

The current SimplyCash Preferred Card welcome bonus is much lower than the stronger offers we tracked a few years ago, when the card reached significantly higher cashback values.

However, this offer has now appeared across multiple recent snapshots, which suggests it has become the card’s current standard public offer rather than a short-term low.

If the card fits your spending, especially for cashback earning, it can still make sense. If you are mainly chasing the largest upfront bonus, compare current card offers before applying.

Current offer since Sep 2024
Historical high 500 cashback
Last change Down 150 cashback

Where The SimplyCash Preferred Card Welcome Bonus Sits Historically

This range compares the current public bonus against the lowest, typical, and highest offers PointsWise has tracked for the SimplyCash Preferred Card.

Historical Low 250 points
Typical Range 250 - 500 points
Historical High 500 points
250 points Current Offer

History available since 2019

Updated Jun 18, 2026

SimplyCash Preferred Card Welcome Bonus History

See how the SimplyCash Preferred Card welcome bonus has changed over time, including confirmed snapshots when the public offer stayed the same.

Welcome Bonus Events - Card Reviews v1

Offer snapshots indicate dates when the public welcome bonus was confirmed unchanged.

Why it matters

Credit card welcome bonuses change often. This tracker helps you compare today’s offer against past public offers before you apply.

Compare before you apply.

See whether today’s welcome bonus is low, typical, or unusually strong for this card.

Decide whether waiting to apply makes sense.

A past high offer is useful context, but it may not return soon.

Understand offer snapshots

Snapshot bars show when a public bonus was confirmed unchanged, not when a new offer launched.

Ready to Apply or Compare Offers?

Apply with confidence.

SimplyCash Preferred Card card image
Apply for the SimplyCash Preferred Card

Instant decision available with no impact to your credit score.

Amex Welcome Bonus History Tracker in Canada Since 2019
Compare welcome bonuses

View and compare offers across all cards.

Amex Cobalt Card Earn Rates

4%
gas

Earn 4% cash back at stand-alone automobile gasoline stations in Canada, up to $30,000 in annual purchases ($1,200 cash back). After reaching the cap, you'll earn 2%.

4%
groceries

Earn 4% cash back at stand-alone grocery stores in Canada, up to $30,000 in annual purchases. After the cap, you'll earn 2%. Grocery purchases at superstores, wholesale clubs, or alcohol retailers do not qualify.

2%
everything else

Earn 2% cash back per $1 on all other eligible purchases.

Cashback Rewards

There are no award charts, transfer partners, blackout dates, or point-value calculations. The question is whether the card earns enough cash back from your regular spending to make it a good fit for you.

How to Use Cash Back

Earn on Everyday Purchases
Cash back works best on purchases you already make, like groceries, gas, recurring bills, subscriptions, and general household spending.
Redeem It for Real Dollar Value
Cash back is applied as a statement credit, which directly reduces your card balance. That makes it easier to understand than travel points.
Match the Card to Your Spending
The best cash back card is the one that rewards the categories where you consistently spend money.
Watch the Gas and Grocery Rules
The SimplyCash Card has a $15,000 annual cap on eligible gas and grocery purchases, while the SimplyCash Preferred Card has a $30,000 annual cap.

Cash Back Value

Guaranteed Value

$1 cash back = $1 statement credit

Best Use

Everyday expenses, groceries, gas, bills, and statement credits.

Example

$1,000/month at 2% cash back= $20/month= $240/year before annual fees

High-Value Potential

The SimplyCash Card is best for no-fee cashback with 2% on eligible gas and groceries and 1.25% on other purchases.The SimplyCash Preferred Card is stronger for higher spenders, with 4% on eligible gas and groceries and 2% on other purchases, but the annual fee needs to make sense.

Quick Insight

Cash back does not have the same upside as travel points, but it is easier to use and has a guaranteed value of $1 cash back = $1 statement credit.

SimplyCash Preferred Card Benefits

A closer look at the benefits, travel rewards, and everyday extras that come with the SimplyCash Preferred Card.

5 total benefits

Featured Benefits

4% Cash Back on Groceries

Earn 4% cash back at eligible stand-alone grocery stores in Canada, up to the annual category cap, then continue earning the base cash back rate.

4% Cash Back on Gas

Earn 4% cash back at eligible stand-alone gas stations in Canada, up to the annual category cap, then continue earning the base cash back rate.

2% Cash Back on Other Purchases

Earn 2% cash back on other eligible purchases, making the SimplyCash Preferred Card stronger for everyday spending beyond gas and groceries.

Annual Cash Back Reward

Your earned cash back is automatically credited to your account once a year, appearing on your September statement - no extra steps required.

Amex Offers

Save on everyday purchases with Amex Offers and enjoy exclusive discounts and rewards at your favourite stores, restaurants, and online shops. New offers are always being added, so be sure to check your account regularly.

Explore All Benefits

Redemption Options1 benefit

Annual Cash Back Reward

Your earned cash back is automatically credited to your account once a year, appearing on your September statement - no extra steps required.

Amex Experiences3 benefits

Front of the Line Presale Access

Enjoy exclusive early access to presale tickets with Front of the Line access and get your seats to the hottest concerts, shows, and events before the general public.

Exclusive Access

Make every night out unforgettable and breeze through dedicated entrances at the Budweiser Stage, relax in premium lounges, and enjoy priority service at top venues like Massey Hall and Mirvish Theatres.

Amex Experiences

Cardmembers get access to a variety of special offers created just for American Express. From advance screenings of blockbuster movies, to weekend getaway packages and special online and in-store shopping deals, it's never been easier to have an experience you'll never forget.

Member Extras1 benefit

Amex Offers

Save on everyday purchases with Amex Offers and enjoy exclusive discounts and rewards at your favourite stores, restaurants, and online shops. New offers are always being added, so be sure to check your account regularly.

SimplyCash Preferred Card Insurance Coverage

Here’s a closer look at the insurance coverage included with the SimplyCash Preferred Card, including travel, purchase, rental car, mobile device, and other protections where applicable.

Coverage amounts, eligibility, and exclusions vary by card. Always review the certificate of insurance before relying on a benefit.

Travel Insurance

6 coverages

Purchase & Warranty Coverage

2 coverages

Rental Car Coverage

1 coverage

Mobile Device Coverage

1 coverage

Explore Insurance Coverage

Travel Insurance6 coverages

Emergency Medical Insurance

Stay protected with up to $5,000,000 in emergency medical coverage for eligible expenses when travelling outside your province or country. Coverage applies for the first 15 days of each trip (for insured persons under 65).

Up to $5,000,000

Flight Delay Insurance

Receive up to $500 for essential expenses like hotels, meals, and personal items when your flight is delayed or boarding is denied for 4+ hours, with no alternate transport available (combined with Baggage Delay Insurance).

Up to $500

Baggage Delay Insurance

Get up to $500 for essential clothing and items when your checked baggage is delayed by 6+ hours on your outbound flight (combined with Flight Delay Insurance). Coverage applies to emergency purchases made within four days.

Up to $500

Lost or Stolen Baggage Insurance

Protect your belongings with coverage of up to $500 per trip for lost or damaged checked and carry-on baggage when you charge your airline tickets to your card.

Up to $500

Hotel Burglary Insurance

Get up to $500 coverage for personal items lost due to hotel room burglary when you fully book and pay for your stay with your card (excludes cash).

Up to $500

Travel Accident Insurance

Provides up to $100,000 in Accidental Death and Dismemberment insurance when you charge your fare on a common carrier to your card. Coverage extends to you, your spouse, dependent children under 23, and even supplementary cardholders and their families.

Up to $100,000
Purchase & Warranty Coverage2 coverages

Automatic Purchase Protection

Get 90 days of automatic protection, covering up to $1,000 per incident for eligible purchases with coverage for accidental damage or theft, even if other insurance doesn't apply.

Up to $1,000

Extended Warranty with Buyer's Assurance Protection Plan

Doubles the original manufacturer's warranty by up to two additional years on eligible purchases made with your card. Coverage is valid in Canada and the U.S., with protection up to $10,000 per item and $25,000 annually.

Up to $25,000 annually
Rental Car Coverage1 coverage

Car Rental Theft and Damage Insurance

Provides automatic coverage for car rental theft and damage when you charge your rental to your card and decline the rental company's insurance. With protection for vehicles valued up to $85,000.

Up to $85,000
Mobile Device Coverage1 coverage

Mobile Device Insurance

Provides up to $1,000 in coverage for theft, loss, or accidental damage on eligible mobile devices worldwide when you fully charge or finance the purchase with your card. Coverage begins after 90 days and lasts up to 2 years from purchase.

Up to $1,000

SimplyCash Preferred Card Fees & Rates

A quick look at the SimplyCash Preferred Card's annual fee, interest rates, and other common charges.

Annual Fee

$9.99 /month

Equals $119.88/year.
Quebec residents are billed $119.88 annually.

Foreign Transaction Fee

2.50%

Applies to purchases in non-Canadian currencies.

Purchase Interest

21.99%

Applies when you carry a balance on purchases.

Cash Advance Rate

21.99%

Applies to cash advances and certain non-purchase transactions.

Detailed Fee Breakdown

Annual Fee
$9.99/month - equals $119.88/year.
Quebec residents are billed $119.88 annually.
Foreign Transaction Fee
2.50%
Purchase Interest
21.99%
Cash Advance Rate
21.99%
Full Benefits Additional Card Fee
$0
Penalty APR
25.99% - 29.99% Variable
Balance Transfer Rate
N/A
Intro Balance Transfer Rate
N/A

SimplyCash Preferred Card card image
Apply for the SimplyCash Preferred Card

Instant decision available with no impact to your credit score.

Get the Best Amex Offers in Canada

Track welcome bonuses, limited-time offers, and strategy updates.

PointsWise - AMEX Card Travel Tips for Canadians

PointsWise helps Canadians find the best Amex cards and maximize every point.

Compare offers, track welcome bonus trends, and use proven strategies to earn more rewards on everyday spending and travel.

Amex Cards

Top Pick: Cobalt Card

Best Amex Cards

Compare Amex Cards

Amex Card Reviews

Amex Card Strategies

Learn About Amex

How Amex Works in Canada

Is Amex Worth it in Canada?

Amex Bonus History

Amex Changelog

Amex Membership Rewards Guide

Airline Reviews

Hotel Reviews

Connect

Get the Newsletter

About

Contact

Some links on this site are affiliate links, meaning PointsWise may earn a commission if you click and make a purchase, at no additional cost to you. Editorial content is independently written and has not been reviewed, approved, or endorsed by any company, including American Express. For full details, see our Advertiser Disclosure.

SimplyCash Preferred Card
View the current offer for the SimplyCash Preferred Card SimplyCash Preferred Card offer
Earn up to $250 cashback.
Instant decision available with no impact to your credit score.
View Offer