- Network provider
- American Express
- Provider
- American Express
- Card types
- RewardsLow Balance TransferNo Fee
- Credit needed
- Good
- Annual fee
- $0
- Purchase interest rate
- 19.99%
- Cash advance rate
- 22.99%
- *provided you make your minimum monthly payments on time
- Balance transfer rate
- 1.99%
- 22.99% after 6 months
- 24/7 Customer Service
- Entertainment Benefits
- Extended Warranty
- Purchase Protection
- Rental Car Insurance
- Travel Insurance
The SimplyCash Card from American Express is a no-fee, low interest balance transfer card that boasts a variety of cash back opportunities. To qualify for the card, you need an above-average credit score (690 or higher).
SimplyCash makes it easy for users to transfer balances from other credit cards, with a 1.99% introductory interest rate for the first six months on the transferred balance. But make sure you know in advance whether you want to take this option: balance transfers are only available at the time of application — you can't ask for it later. There’s no fee for transferring a balance. After the initial introductory period, the interest on balance transfers is 22.99%
The interest rate on purchases is 19.99%. However, missed or late payments can trigger an increase in your interest rate. Depending on your payment history, your rate could rise to either 23.99% or 26.99%. This applies to balance transfers and cash advances as well.
The standard cash back rate on all purchases is 1.25% but it goes up to 5% when you shop at eligible gas stations, grocery stores and restaurants within Canada. At the 5% earn rate, the amount of cash back you can earn is capped to $250, there’s no similar cap on the standard cash back rate.
SimplyCash users are eligible to receive access to various experiences and events via the American Express Invites program. Card users can also use Apple Pay at participating merchants.
Plus, cardholders can earn $100 for each person they refer to the SimplyCash card, up to a maximum of $1,500.
Why get the SimplyCash Card from American Express?
Major insurance benefits - SimplyCash will cover your car rental damage and theft. It also covers up to $100,000 in travel accident insurance so you can travel at ease.
Purchase protection - The SimplyCash card from American Express comes with a purchase protection plan and a buyer's assurance protection plan, so there's no need to worry about theft and fraudulent activity.
No fees for additional cards - There are no annual fees for additional cards and primary users can register up to nine secondary accounts.
Around the clock help - The SimplyCash card comes with 24/7 customer service, with an American Express representative waiting to speak with you.