SimplyCash AMEX Card
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The SimplyCash Card from American Express offers straightforward cash back rewards with no annual fee. You earn 2% cash back on eligible gas and grocery purchases in Canada and 1.25% on everything else.
Welcome Offer
New cardholders can earn up to $100 in statement credits by spending $300 monthly in the first 10 months.
Summary
This credit card comes with no annual fee, so you won’t have to worry about an extra yearly charge. The interest rate is set at 21.99% for both purchases and cash advances. This means if you carry a balance from month to month or use the card for cash withdrawals, you’ll be charged 21.99% in interest. It’s a straightforward card that can save you money on annual fees, but it’s best to pay off your balance each month to avoid the higher interest costs.
Rewards
Benefits
Insurance
Includes travel and shopping coverage.
Editor’s Review
SimplyCash® Card from American Express Review
Overview
The SimplyCash Card from American Express is designed for individuals seeking straightforward cash back rewards without an annual fee. It offers competitive cash back rates on everyday purchases and various additional benefits.
Key Features
- Interest Rates: 21.99% on purchases and cash advances
- Rewards:
- 2% cash back on gas and grocery purchases
- 1.25% cash back on all other purchases
- Fees: No annual fee
- Benefits:
- Up to $100 in statement credits in the first 10 months
- American Express® Experiences for exclusive events and offers
- Travel and shopping coverage
- Referral bonuses up to $375 annually
Pros and Cons
Pros:
- No annual fee
- High cash back rates on gas and groceries
- Wide range of additional benefits
Cons:
- High interest rate
- Limited to Canadian residents
Who is this card for?
This card is ideal for individuals who spend significantly on gas and groceries and prefer a no-fee card with straightforward cash back rewards. It’s also suitable for those who enjoy exclusive events and need robust travel and shopping protections.
Comparison Table
| Feature | SimplyCash® Card | Competitor Card 1 | Competitor Card 2 |
|---|---|---|---|
| Annual Fee | $0 | $0 | $99 |
| Interest Rate | 21.99% | 19.99% | 20.99% |
| Cash Back on Gas | 2% | 1.5% | 3% |
| Cash Back on Groceries | 2% | 1% | 2% |
| Other Purchases | 1.25% | 1% | 1.5% |
| Introductory Offer | $100 in statement credits | $200 cash bonus (conditions apply) | 50,000 points (conditions apply) |
Final Verdict
The SimplyCash Card from American Express offers a compelling package for those seeking cash back on essential purchases without the burden of an annual fee. Its 2% cash back on gas and groceries is competitive, and the additional benefits such as exclusive event access and comprehensive travel and shopping coverage add significant value. However, the high-interest rate and limitation to Canadian residents are drawbacks. Overall, this card scores an 8 out of 10 for its balanced rewards and benefits structure, making it a strong choice for budget-conscious consumers.
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