SimplyCash Preferred Card from American Express 2026 Review

Mika L.
Written by Mika L.
Financial Content Writer
Mat C.
Edited by Mat C.
Managing Editor & Senior Developer

SimplyCash Preferred Card from American Express4.6/5

American Express

Annual fee
CA$119.88
Rewards rate
4%-2%
Welcome Bonus
CA$250
Apply Now →on American Express's website

  • 4%Cash back on eligible gas and groceries
  • 2%Cash back on all other purchases

Welcome Bonus:

Earn up to CA$250 in bonus value over the first year, including 10% cash back on all purchases for the first 3 months.

Reward Rate:

Earn 4% cash back on eligible gas and groceries (up to CA$1,200 back annually) and 2% on all other purchases with no limit.

The SimplyCash Preferred Card from American Express shines for its high cash back rates, particularly 4% on gas and groceries, making it an excellent choice for those who spend heavily in these categories. Additionally, the welcome bonus offers substantial value, enhancing its appeal for new cardholders.

Pros:

  • High cash back on gas and groceries
  • Generous welcome bonus

Cons:

  • Annual fee
  • Interest rates can be high
Apply now →

The SimplyCash Preferred Card from American Express is particularly suitable for individuals who frequently spend on gas and groceries, given its competitive cash back rates in these categories. With a reasonable annual fee and a notable welcome bonus, it presents a valuable option for those looking to maximize their rewards on everyday purchases.

Frequently Asked Questions