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SimplyCash™ Preferred Card from American Express

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Card details
Network provider
American Express
Provider
American Express
Card types
Rewards
Low Balance Transfer
Credit needed
Good
Fees and interest
Annual fee
$99
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
Credit score required
Excellent (750-900) Good (650-749) Fair (575-649) Bad (300-574)
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Insurance

The American Express SimplyCash Preferred Card credit card is a premium cash back card for people with a good credit score. Like many premium cards, the SimplyCash Preferred comes with an annual fee of $99, but it doesn’t have a minimum income requirement like many similar higher-end cards.

The American Express SimplyCash Preferred Card’s main feature is its big 5% cash-back rate for new cardholders. It’s only available for the first six months but allows users to earn cash-back faster than they would at the regular rate, which is set at 2%. Unlike other cash-back cards, the cash-back rate applies to all purchases, not just on certain categories.  So even without the special introductory rate, you still stand to earn more cash back with this card if you stick with it.

There's also an offer for balance transfers — 1.99% for the first six months — and no fee for doing so.  

The card has a standard annual interest rate of 19.99% on purchases and 22.99% on cash advances.

 

Why get the SimplyCash™ Preferred Card from American Express?

Entertainment benefits - Cardholders can take nights out on the town to a new level with American Express Invites. Once they register, cardholders can purchase tickets for a variety of events before they go on sale to the public. They’ll also be able to access tickets specially reserved for American Express members and will receive special offers on exclusive experiences like advanced film screenings.

All the latest payment options - In addition to chip-and-PIN purchases, you can also tap the card for contactless payment, or use Apple Pay or Android Pay with your smartphone and smartwatch.

Get covered automatically - The SimplyCash Preferred Card comes with a comprehensive coverage plan that includes insurance for out-of-province and international emergency medical coverage, car rental theft and damage insurance, flight delay insurance, lost or stolen baggage insurance, hotel burglary insurance, and last but not least, purchase protection on most items you can buy using your card. The manufacturer’s warranty will be doubled and eligible items are covered against accidental damage and theft, which can save you hundreds of dollars.