Canada · personal card · American Express Canada
SimplyCash Preferred Card from American Express review
Earns 4% cash back on gas and on groceries in Canada (grocery capped at $1,200 cash back a year) and 2% on everything else with no limit.
Key facts
- Issuer
- American Express Canada
- Network
- Amex
- Annual fee
- $120 ($9.99/month for non-Quebec residents ($119.88/year); $119/year Quebec; no fee for Additional Cards)
- Welcome offer
- Up to $200 bonus cash back (extra 10% on up to $2,000 purchases in first 3 months) plus $50 statement credit with a purchase in month 13
- Purchase rate
- 21.99%
- Cash advance rate
- 21.99%
- Foreign transaction fee
- Not stated
- Minimum personal income
- Not stated
- Minimum household income
- Not stated
- Available in Quebec
- Yes
- Insurance
- Mobile Device Insurance (up to $1,000); travel coverage
- Est. net value / yr
- $696 ($816 rewards − $120 fee)
Rewards
Earns 4% cash back on gas and on groceries in Canada (grocery capped at $1,200 cash back a year) and 2% on everything else with no limit.
Earn rates the issuer states: base 2% · groceries 4% · gas 4% · everyday 2%. 4% grocery up to $1,200 cash back annually
Perks
Instacart credit up to $60; referral bonus up to $750 cash back a year
How we put this page together
Every figure here was read on American Express Canada’s own page on October 7, 2026; fields the page did not state are shown as “not stated” rather than estimated. The net value estimate uses the method on our Canada methodology. Card rules and your rights as a cardholder: FCAC. Note: Bonus is cash, signup_bonus_points left null. Travel coverage listed but not detailed on page.
Frequently asked questions
What is the annual fee on the SimplyCash Preferred Card from American Express?
$120 ($9.99/month for non-Quebec residents ($119.88/year); $119/year Quebec; no fee for Additional Cards), as read on American Express Canada’s website on October 7, 2026.
Is there a foreign transaction fee on the SimplyCash Preferred Card from American Express?
The issuer’s page did not state a foreign currency conversion fee when we read it; check the cardholder agreement.
What income do I need for the SimplyCash Preferred Card from American Express?
The issuer’s page did not state a minimum income when we read it.
More American Express Canada cards
Earns 2 Aeroplan points per $1 on Air Canada, 1.5 on dining and food delivery in Canada and at Hyatt, and 1 on everything else, with a free first checked bag.
Earn: base 1 pts · dining 1.5 pts · travel 2 pts · everyday 1 pts
- Annual fee
- $120 (Charge card, no preset limit; fee rises to $150 on Jan 12 2027; $50 per Additional Card)
- Est. net value / yr
- $637
- Welcome offer
- 35,000 Aeroplan points after $7,500 in 6 months plus 10,000 points after $1,000 in month 13
- Foreign transaction fee
- Not stated
Earns 3 Aeroplan points per $1 on Air Canada, 2.5 at Hyatt, 2 on eligible hotels and car rentals in Canada, and 1.25 on everything else.
Earn: base 1.25 pts · travel 3 pts · everyday 1.25 pts
- Annual fee
- $599 (Rises to $799 on Jan 12 2027; $199 per supplementary Business Reserve Card)
- Est. net value / yr
- $338
- Welcome offer
- Elevated offer: 80,000 Aeroplan points after $10,500 in 3 months plus 40,000 points after $3,500 in month 13
- Purchase rate
- 21.99%
- Foreign transaction fee
- Not stated
Earns 3 Aeroplan points per $1 on Air Canada, 2 on dining and food delivery in Canada and at Hyatt, and 1.25 on everything else, with Maple Leaf Lounge access and a companion pass.
Earn: base 1.25 pts · dining 2 pts · travel 3 pts · everyday 1.25 pts
- Annual fee
- $599 (Annual fee rises to $799 on Jan 12 2027; $199 per Additional Reserve Card (no-fee companion card available))
- Est. net value / yr
- $396
- Welcome offer
- 60,000 Aeroplan points after $7,500 in 3 months plus 25,000 points after $2,500 in month 13
- Purchase rate
- 21.99%
- Foreign transaction fee
- Not stated
Earns 1 Membership Rewards point per $1 plus a 10,000-point bonus each quarter in which $20,000 is charged.
Earn: base 1 pts · everyday 1 pts
- Annual fee
- $199 (Charge card; Employee Cards $50 each)
- Est. net value / yr
- $146
- Welcome offer
- Elevated offer: 60,000 points after $7,500 in 3 months plus 30,000 points after $30,000 in first year (up to 90,000)
- Foreign transaction fee
- Not stated
Rates, fees and offers are shown as we read them on each issuer’s own website on the date shown, in Canadian dollars, and can change at any time. Confirm current terms with the issuer before applying. General information, not financial advice. Partner links, where they exist, never change the order. Affiliate disclosure. Card rules and consumer protections: Financial Consumer Agency of Canada.