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American Express

Amex SimplyCash Preferred

Start with up to $250 in bonus value.

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Annual fee
$120
Reward type
Cash Back
Typical credit · 743+
Amex SimplyCash Preferred⛽ Gas Cashback

Welcome bonus

New cardmembers can earn up to $250 in bonus value by completing the steps below.

How to earn it

  • Up to $200 in bonus cash backEarn a bonus 10% cash back on all purchases, up to $2,000 in purchases, within the first 3 months as a new SimplyCash Preferred Cardmember
  • $50 statement creditMake a purchase in month 13 of Cardmembership

Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.

How you earn

  • 4% cash back on eligible gas station purchases in Canada
  • 4% cash back on eligible grocery purchases in Canada
  • 2% cash back on all other eligible purchases

Built-in perks & coverage

Welcome Bonus

Earn up to $200 in bonus cash back during the first 3 months as a new cardmember, plus a $50 statement credit after making a purchase in month 13.

Mobile Device Insurance

Provides up to $1,000 in coverage for eligible mobile devices that are lost, stolen, or accidentally damaged when the full purchase price is charged to the card or financed through a Canadian wireless service provider.

Instacart Statement Credits

Receive up to $60 in Instacart statement credits within a 12-month period through December 31, 2027.

Travel Coverage

Includes travel insurance benefits that may provide protection when eligible travel purchases are charged to the card.

Purchase Protection

Eligible purchases may be protected against accidental damage or theft for a limited period following purchase.

Extended Warranty

Eligible items purchased with the card may receive extended warranty coverage beyond the original manufacturer's warranty.

Amex Experiences

Access exclusive ticket presales, entertainment events, virtual experiences, dining opportunities, and other cardmember events.

Amex Offers

Access targeted merchant offers, statement credits, and promotional savings through the American Express Offers program.

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Refer a Friend Program

Eligible cardmembers can earn referral bonuses for approved referrals, up to an annual maximum of $750 in referral cash back.

Plan It Installment Program

Split eligible purchases into fixed monthly payments with no additional credit application and a fixed monthly fee.

Additional Cards

Supplementary cards are available with no additional annual fee.

Instant Decision Application

Apply online and receive an instant decision with no impact to your credit score.

The verdict

What we like

  • High cash back earn rates
  • Strong base cash back rate
  • Comprehensive insurance coverage
  • Instant decision with no impact to credit score

Worth noting

  • Annual cash back redemption schedule
  • Limited merchant acceptance
  • Annual fee

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