Amex SimplyCash Preferred review: fees and how to apply
See the monthly fee, cash back rates and insurance before you apply
The SimplyCash® Preferred Card from American Express can be a practical option for people in Canada who use a card for everyday purchases and want cash back in a simple format.
When you pay on time and keep your balance under control, a credit card can help you build a steady credit history and give you dispute options on eligible purchases.
It can also be useful for online orders, subscriptions and travel bookings, where a card is often required.
This card may appeal to people who prefer cash back and want to track their spending in one place, with account tools that make day-to-day money management easier.
Keep reading to learn who this card is for, what it offers and which costs to review before you apply.
Who is the SimplyCash Preferred card for?
This card may suit people who prefer cash back instead of points and want a rewards program that’s easy to understand.
It can also work for people who use their credit card regularly for groceries, gas and other everyday expenses, and who want insurance coverage such as purchase protection and travel insurance included with their card.
Like other American Express cards in Canada, the SimplyCash Preferred Card has no minimum income requirement. Approval depends on American Express’s credit assessment.
Benefits of the SimplyCash Preferred
Here are the main benefits of this cash back credit card.
Cash back on eligible purchases
You earn 4% cash back on eligible gas station purchases in Canada and 4% on eligible grocery store purchases in Canada, up to $1,200 cash back annually. After that, these purchases continue to earn 2%.
All other purchases earn 2% cash back, with no limit. Your cash back is applied automatically as a statement credit once a year, on your September statement.
Travel accident insurance
Cardholders may be covered for up to $100,000 for accidental death or serious injury while travelling on a common carrier, such as a plane, train or bus, when the fare is charged to the card.
Emergency medical insurance
The card includes out-of-province/country emergency medical insurance when you travel outside your province or territory of residence. Coverage limits, the number of days covered and age restrictions apply, as described in the Certificate of Insurance.
Purchase protection and mobile device insurance
Most eligible items bought with your card are covered against accidental damage or theft for up to 90 days from the purchase date.
The card also includes Mobile Device Insurance of up to $1,000, plus flight delay, baggage, hotel/motel burglary and car rental theft and damage coverage.
American Express benefits
You get access to Amex Offers, Front Of The Line® Amex Presale Tickets and Amex Reserved Tickets, and Plan It, which lets you split large purchases into monthly installments.
Insurance coverage is subject to the terms, limits and exclusions in the Certificate of Insurance provided with the card.
Main details of the credit card
- Card network: American Express;
- Type: cash back credit card, accepted in Canada and abroad wherever American Express is accepted;
- Credit limit: set by American Express based on your application;
- Annual fee: $9.99 per month ($119.88 per year) for non-Quebec residents, or $119 per year for Quebec residents;
- Annual interest rate: 21.99% on purchases and funds advances;
- Foreign transaction fee: 2.5% on purchases in other currencies;
- Does it accept people with bad credit? American Express doesn’t publish a minimum credit score. Approval depends on its credit assessment and isn’t guaranteed.
Rates and fees checked on September 22, 2026, against American Express Canada’s website. Confirm current terms on the American Express website before applying.
Documents required to apply
American Express doesn’t publish a full list of documents for this card. When you apply, you’ll typically provide:
- Your personal information, including your address in Canada;
- Your employment and financial information.
Depending on your situation, American Express may ask for more information to confirm your details and complete its review.
How to contact American Express?
If you have questions before or after applying, you can contact American Express through:
- Customer service in Canada and the U.S.: 1-800-668-2639;
- Online: through the American Express App or Online Services.
How to apply for the SimplyCash Preferred card?
You can apply online on the American Express Canada website by filling out the application form with your personal and financial information.
American Express may ask for your Social Insurance Number (SIN) or additional information to support your application and complete the credit check.
After you submit your application, you may receive a decision right away, or you may be asked for more information before a final answer.
Conclusion
The SimplyCash Preferred Card can be a good fit for people who want straightforward cash back on everyday purchases in Canada.
The 4% rate on groceries and gas can add up for households with steady monthly expenses. At 4%, about $3,000 a year in gas and grocery purchases would cover the annual fee, and the 2% rate on everything else adds to your earnings.
At the same time, review the $9.99 monthly fee, the 21.99% interest rate, the once-a-year cash back payment and the insurance terms to understand how the card works in practice. Carrying a balance can lead to interest charges that quickly cancel out your cash back.
Before applying, compare your usual spending with the card’s categories and conditions. Approval and your credit limit depend on American Express’s review of your application.
Click the button below to be redirected to the official website responsible for issuing the SimplyCash Preferred credit card:
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Legal Disclaimer: This website is independent and purely informational, and its content does not constitute financial advice. Finvyu is not affiliated with American Express. We do not guarantee credit approval or card issuance, which are subject solely to the risk analysis of Amex Bank of Canada. Finvyu Editorial Team.
