SimplyCash Card American Express Review

3.00

$0.00

Annual Fee

$306.00

Annual Rewards

N/A

Intro Offer

$0.00

Annual fee

$306.00

Annual rewards

N/A

Intro offer


Pros


  • No annual fee
  • 1.25% cash back on all purchases
  • Welcome cash back offer of 2.5% for the first 3 months
  • Flexible cash back redemption options
  • Travel insurance coverage
  • Access to American Express Invites

Cons


  • Limited acceptance at some retailers
  • No bonus cash back categories
  • Potential for higher interest rates (19.99% for purchases and 21.99% for cash advances)
  • No dedicated rewards program or perks for frequent travelers

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With SimplyCash Card American Express, here’s how you earn rewards:

Gas2%
Groceries2%
All Other Spend1%

How much your rewards are worth

The dollar value of your rewards depends on the specific AMEX rewards program and what you choose to redeem your points for.

For SimplyCash Card American Express in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Apply to statement credit$4.47

Calculating your annual rewards

$24,000.00 annual spending x $1.28% return on spending = $306.00 annual rewards

$306.00 annual rewards – $0.00 annual fee = $$306.00 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score760 – 900
Interest Rates
Purchase20.9%
Cash Advance21.9%
Balance TransferN/A%
Fees
Extra Card Fee$0
Card typeAMEX

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days
Travel Accident100000

SimplyCash Card American Express Review

The SimplyCash Card from American Express is a cash back credit card that offers a simple and straightforward earning potential. In this review, we will discuss its earning potential, benefits, drawbacks, and other relevant information to help you decide if it’s the right credit card for you.

1. Earning potential with the card

The SimplyCash Card from American Express allows its users to earn cash back on virtually all purchases. The card offers 1.25% cash back on all eligible purchases with no limit to how much you can earn. There are no bonus categories or spending tiers, which makes it easy to understand and calculate your earnings.

2. Benefit 1: No annual fee

One major advantage of the SimplyCash Card is its lack of an annual fee, which means you can start earning cash back without having to worry about recouping costs from an upfront fee.

3. Benefit 2: Purchase protection and buyer’s assurance

The card offers protection against loss, theft or damage for eligible items purchased using the card, as well as an extended warranty doubling the original manufacturer’s warranty (up to one additional year).

4. Benefit 3: Flexible reward redemption

Rewards earned with this card can be applied as a statement credit on your account, allowing you to spend the cash back in any way you choose.

5. Benefit 4: Access to American Express Invites

Cardholders can enjoy exclusive access to ticket pre-sales and reserved seating offers for concerts, events, and movie screenings through American Express Invites.

6. Drawback 1: Limited acceptance

One significant drawback of the SimplyCash Card from American Express is its limited acceptance compared to other credit card providers like Visa or Mastercard. This means you may find yourself unable to use the card at certain retailers, limiting your ability to earn cash back.

7. Drawback 2: No introductory or bonus offers

While some credit cards offer promotional interest rates or bonus cash back earning potential, the SimplyCash Card doesn’t have any introductory or bonus offers for new cardholders. This means that while its cash back rate is respectable, it may not be as competitive as cards that provide an initial bonus period with higher cash back rewards.

8. Additional information:

The SimplyCash Card from American Express comes with standard American Express benefits such as 24/7 customer service and access to emergency card replacement. It is important to keep in mind that your credit score could be influenced by your ability to properly manage the card and meet monthly payments.

In conclusion, the SimplyCash Card from American Express is a solid choice for those looking for a no-annual-fee cash back card with simple earning potential and additional benefits. However, its limited acceptance and lack of bonus offers may not make it the best choice for all consumers.

Interested in other credit cards? Canadians that like the SimplyCash Card American Express credit card also like the American Express Green Card. If you’re looking for other options you should consider the American Express Cobalt, and the American Express Platinum Card.

FAQ

The SimplyCash Card from American Express uses a cashback rewards system, rather than a points system. This means that you earn a percentage of cashback on your eligible purchases, which can be applied directly as a statement credit on your account. This allows you to save money on your credit card balance, instead of redeeming points for specific rewards or items.

The SimplyCash Card from American Express does charge foreign transaction fees. When you make a purchase in a foreign currency, the charge gets converted to Canadian dollars and is subject to a 2.5% foreign transaction fee. This fee is added to the converted amount, increasing the total cost of the transaction for cardholders.

The SimplyCash Card from American Express does not have a specific minimum income requirement for applicants. This means that your overall credit profile, including credit history and score, will be the main factors that determine your eligibility for the card.

Key benefits

  • $0 annual fee
  • Earn 1.25% cash back on virtually every purchase
  • Introductory 2.5% cash back rate for the first 3 months, up to $150
  • Redeem cash back anytime, as statement credits
  • Emergency medical and trip interruption insurance included
  • Car rental theft and damage insured
  • Travel accident insurance policy
  • Access to AMEX Invites, which includes concerts and special events
  • Access to borderless shopping and exclusive offers from AMEX’s global retailers
  • 24/7 customer service and global assistance hotline
  • Potential for a credit limit increase after 6 months of card membership

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