SimplyCash Preferred card: cashback on eligible purchases
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The SimplyCash Preferred credit card 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 protect you with dispute options on eligible purchases.
It can also be useful for online orders, subscriptions, and travel bookings where a card is often required.
This product may appeal to people who like cash back credits and want to track spending in one place, with account tools that can make day-to-day money management easier.
Keep reading to learn who this card is for, what it offers, and what costs to review before you apply. The goal is to help you understand the card’s rules, not to push you toward a specific decision.
Who is the SimplyCash Preferred card for?
This card may suit people who prefer cash back instead of points and want a rewards setup that is easy to understand.
It can also work for cardholders who use their credit card regularly for groceries, gas, and other common expenses, and who want extra coverage such as purchase protection and travel-related insurance.
If you prefer to keep rewards simple, cash back credits may feel easier to track than points.
Benefits of the SimplyCash Preferred
Here are the main benefits that come with this cash back credit card.
Check what the card offers:
Cashback on eligible purchases
You can earn 4% cash back on eligible gas purchases in Canada. You can also earn 4% cash back on eligible grocery purchases in Canada, up to $1,200 cash back annually.
For all other eligible purchases, the card earns a base rate of 2% cash back, with no limit mentioned for this rate. Cash back is typically applied as a statement credit annually, so the value you get automatically reduces your overall balance.
Travel accident insurance
Depending on the terms, cardholders may have coverage of up to $100,000 CAD for certain fatal or serious dismemberment accidents while travelling on a common carrier when the ticket is charged to the card.
Emergency medical insurance
This card may include emergency medical coverage when you travel outside your Canadian province or territory of residence, with coverage up to $5,000,000 CAD for the first 15 days of your trip, subject to eligibility rules and policy limits.
Purchase protection
Eligible items purchased with your card may be covered for up to 90 days against accidental damage or theft, based on the insurance terms.
The coverage may offer a maximum protection of $1,000 CAD per occurrence for all combined items, with conditions and exclusions that can apply.
Main details of the credit card
- Card network: American Express;
- Type: Credit card with cash back rewards (accepted inside and outside Canada);
- Initial limit: Set based on the applicant’s profile, income, and strict credit assessment;
- Annual fee: $119.88 CAD ($9.99 charged monthly for non-Quebec residents, or $119 annually for Quebec residents);
- Annual interest rate: 21.99% on purchases and funds advances;
- Does it accept people with bad credit? No. Applicants typically need a good or excellent credit score with Canadian bureaus.
*Rates and fees were updated based on the issuer’s official website as of March 6, 2026.*
Documents required to apply
If you want to apply for the SimplyCash Preferred card, these documents or details may be requested:
- Proof of identity (such as a Canadian government-issued ID);
- Proof of Canadian residency;
- Proof of income and employment details.
Depending on your situation, the issuer may request more information to confirm your details and complete the review.
This can include recent bank statements, employment verification, or other records that support your application.
How to contact American Express?
If you need help or have questions before applying, you can contact American Express using the channels below:
- Personal card support: 1-800-567-2639;
- TTY (Text Telephone): dial 711, then call 1-866-549-6426;
- General inquiries: 1-800-869-3016.
How to apply for the SimplyCash Preferred card?
You can choose the method that feels more comfortable when applying for this financial product.
Apply online through the official secure portal and fill out the form with your personal and financial information.
The issuer may also ask for documents or your Social Insurance Number (SIN) to support your details and complete the credit check.
After you submit, you may receive a decision right away or you may be asked to provide more information before a final answer.
If you prefer, you can contact American Express for guidance before you apply, so you understand the steps and what information is needed.
Conclusion
The SimplyCash Preferred credit card can be a solid fit for people who want straightforward, high-yield cash back on purchases in Canada.
For many household budgets, earning 4% cash back on groceries and gas can be extremely useful because these are common monthly expenses.
At the same time, it’s important to review the $9.99 monthly fee, the 21.99% interest rates, and the insurance terms so you know exactly how the card works in real life.
This card can help build an excellent credit score when used responsibly, but carrying a balance can lead to interest charges that quickly erase the cash back you earn.
Before applying, compare your usual spending categories and confirm the card’s conditions, including any limits, exclusions, or requirements that apply. If you pay your statement in full every month, this is a top-tier choice.
Credit approval and the credit limit offered depend strictly on the issuer’s review of your application and credit profile.
Click the button below to be redirected to the official website responsible for issuing the SimplyCash Preferred credit card:
*You will be redirected to the official American Express website*
Legal Disclaimer: This website is independent and purely informational. We do not guarantee credit approval or card issuance, which are subject solely to the risk analysis of American Express. Finvyu Editorial Team.
