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The NEW SimplyCash Card from American Express Packs a Mean Punch

SimplyCash Card From American Express Cash BackLooking for a rewards credit card that’s simple, has no tricks and is exceptionally rich? The new no annual fee SimplyCash card from American Express has the highest no-fee flat cash back rate of 1.25% in Canada, on everything you buy, with unlimited earning potential.

Need another incentive to try it out? American Express is now offering 5% cash back for the first 6 months on gas, grocery and restaurant spend in Canada! With no annual fee, the 5% promotion itself makes the card a bargain, and worth trying – even if you plan on only using it for the 6 month promo.

There is no other no annual fee credit card in Canada currently offering 5% cash back for 6 months in gas, grocery and restaurant spend, and none that offers 1.25% on all spend, regardless of category, with absolutely no limits. With no annual fee, it’s risk free to try, and a great compliment to any wallet.

To top it off, Amex is offering a 1.99% interest rate on balance transfers for the first 6 months, with no balance transfer fee at time of application.

Apply Now!

How Does The SimplyCash Card Stack-Up?

We did a competitive comparison with other flat rate, no fee credit cards and we found the SimplyCash card offered 25% more rewards than its next closest competitor and it’s 5% cash back on gas, grocery & restaurants for the first 6 months was simply unmatched:

Credit Card Earn Rate Bonus Categories
Amex SimplyCash 1.25% 5% on gas, grocery & restaurants for first 6 months
Capital One Aspire Cash 1%
HSBC MasterCard 1%
ATB Gold Cash Rewards 1%
RBC Visa Cash Back 1%
BMO Cash Back MasterCard 1%
TD Cashback Mastercard .75%
ScotiaBank Momentum .5% 1% on gas, grocery, drugstore & recurring payments
National Bank Edition .5%
Van City Enviro Classic .5%

SimplyCash At A Glance:

  • 1.25% cash back on all spend with no caps – unlimited earning potential
  • Bonus of 5% cash back on all eligible purchases at gas stations, grocery stores and restaurants (up to $250 back) for the first 6 months
  • No annual fee
  • No annual fee on supplementary cards
  • 1.99% interest rate on balance transfers for 6 months, 0% balance transfer fee at time of application!
  • Insurance coverage including Travel Accident, Buyers Assurance, Purchase Protection, Car Rental Theft & Damage
  • Front of the line access to the hottest entertainment

Why It’s A Winner:

We like the no fee SimplyCash card a lot because it hits on the features most Canadians are looking for in a cash back credit card: no annual fee, the richest cash back rate of 1.25% on all purchases in Canada, the simplicity of a flat earn rate on ALL spend with no limits on earnings, and  a super sign-up bonus of 5% cash back on gas, groceries and restaurants in the first 6 months is unparalleled.

With no annual fee, it makes for a great complimentary card. You can use the Amex card to get 5% cash back in the first 6 months on gas, grocery and restaurants, while using another cash back or rewards card that offers more in other categories. Likewaise, you can use the SimplyCash card to earn 1.25% on all your spend, and another no fee cash back card to earn 1% where Amex isn’t accepted – maximizing your rewards.

Apply Now!

 

 

20 comments

  1. Does the 1.25% cash-back cover foreign purchases (gas, grocery, restaurants)?

    • Hey Christine, thanks for your question. If a Canadian credit card doesn’t explicitly state its cash back rate for foreign transactions, it likely doen’t have any. Even for relevant categories abroad, like buying gas or groceries, these purchases will not be eligible. Each card has a list of groceries and gas stations, for instance, that participate within Canada. Unfortunately, these bonuses are not universal, so you’ll want to look at the Rogers Mastercard or Home Trust Preferred Visa if exemption from foreign fees is what you really want. You can also check out USD credit cards for Canadians, if you make a lot of purchases in the States. Good luck!

  2. Hi (awesome greedy rates staff) ,is there relation between this card and Scotiabank Amex card ?
    There is questions in application for “New simply cash ” -“are you an existing American express cardholder ” ?I am not sure how to answer since i have Scotiabank Gold Amex card.

    • Hi Danny,

      There is no relation between the two credit cards. You can answer no, since the Scotia Amex gold card, does not make you an American Express Card member.

      This is a confusing one. American Express is both a credit card issuer (like RBC, CIBC, Capital One, etc…) and a payment network (like Visa and MasterCard). Scotia’s Amex Gold card uses the American Express network, but Scotia is the issuer / lender. Scotia is currently the only non-Amex issuer, to use American Express this way in Canada. In the United States it is more common.

      Hope that helps,

      GreedyRates Staff

  3. How do u redeem the cash back amount?

  4. What is expiry day for SimplyCash offer? It would be better for me to apply in January-February, after I’ll use up the 4%-cash back period on Tangerine card 🙂

    Another question: (I am curious about churning) if you get the second AMEX card ( or, generally, the second TD or any other credit card) do you get the same account for miles/points as the one for the first card or the different account so you would need to transfer the miles/points from one account to another? and it would probably be not for free? I guess they need to fight churning somehow?

    • Hi Inna,

      There is no published expiry date for the Amex SimplyCash offer. That said, it could be withdrawn at any time, although unlikely in the next 2 months. As such, looks like a good idea to use up the 4% cash back period on the Tangerine card, and the subsequently use the 5% cash back promo on the SimplyCash card.

      One question number 2, if the rewards programs are the same, two Aeroplan cards or two Amex Rewards cards, the answer is typically yes – both credit card accounts will fund the same loyalty account. For example, if you get the TD Aeroplan Infinite and the TD Aeroplan Infinite Privilege cards, they will both fund the same Aeroplan loyalty account. As a result you will not need to transfer points from one card to another.

      However, if the rewards programs are different, for example, Amex Gold Rewards versus Amex SimplyCash, then the rewards accounts will be separate.

      Hope that helps,

      GreedyRates Staff

  5. How to use cash back ??

    • Hi Ravi,

      There are many different forms of cash back rewards. In the case of the Amex Simply cash card, you accumulate cash back earnings on each dollar you spend. The cash back earnings are then applied as a statement credit at the end of the year.

      Hope that helps,

      GreedyRates Staff

  6. Does it keep offer additonal promotional balance transfer rates even after the 6 months promotion expires or is this just a one time thing?

    • Hi Bakht,

      Actually it’s only available at time of online application. American Express may offer you another balance transfer promotion once you have your account with them, but there’s no guarantee it will be available or available at the same terms. That said, you can always take a look at some of our other balance transfer cards if you were looking for additional opportunities.

      GreedyRates Staff

  7. Can you tell me the rate for balance transfer

    • Hi Joan,

      The New SimplyCash card from American Express does not come with a standard balance transfer offer. American Express does make special offers on a targeted basis to select customers, typically at 0% for 6 months. You will only know if you’re eligible for the promo offer after you apply.
      The best balance transfer credit card with an open offer to all cardholders we see on the market today is MBNA’s Platinum Plus card, which offers 0% for 12 months, with a 1% balance transfer fee.

      Hope that helps.

  8. Hello,

    How do i receive my cash back from the new simply cash card. Thanks Ken

    • I can’t seem to find any information on how I actually get my cash back, back now that I have accumulated some. Does anyone know?

      • Hi Vox,

        You’ll get a statement credit applied to your account each September of every year.

        GreedyStaff

        • Would you know whether there’s a “cheque” option for the cash back, instead of a statement credit? That’s what the Costco Amex card did, and what I’d prefer as a customer.

          • Hi Jeremy,

            Unfortunately the Amex Simply Cash card only offers cash back redemptions as a statement credit. If you want a cash back card that gives you the choice of redeeming for cash back with a check, a deposit into your checking account or a statement credit, take a look at the no fee MBNA Smart Cash card or the Cash Back page.

            Hope that helps.

            GreedyRates Staff

  9. I need 2000 limit only.

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