Are you looking for a cash back card that doesn’t require you to spend huge amounts so that you feel the cash back rewards? Check out the SimplyCash Card from American Express. Ratehub has consistently placed it on their list of best no fees cards in Canada. It might just be the one for you.
The SimplyCash Card gives you cashback rewards for every dollar you spend. From gasoline to groceries, food deliveries to online shopping – it gives you cashback on all your purchases. For the first 6 months, you get 4% cashback on your purchases. After the 6-month welcome offer, you will get 1.25% on your purchases. Also, the card charges no annual fees and comes with travel accident insurance.
Read on to learn more about SimplyCash Card, its benefits and drawbacks, how to redeem rewards, and more.
SimplyCash Card from American Express (Details ande Review)
Many people are looking for a credit card that gives them something back. They also usually want a credit card that has no annual fees. American Express issues the SimplyCash Card. It has a simple cash back rewards program that’s easy to redeem that charges you no annual fee.
The SimplyCash Card lets you get cashback on every dollar you spend. From gasoline to groceries, food deliveries to online shopping – it gives you cashback on every purchase. For a promo period of 6 months, you get 4% cashback on your purchases and then 1.25% thereafter. The card has zero annual fees and comes with travel accident insurance.
In short, SimplyCash Card is for people who do not want to pay annual fees and are looking for a basic, no-frills reward program.
SimplyCash Card Benefits
Let’s take a look at what SimplyCash Card has to offer:
1. Welcome Offer
As a welcome offer, American Express accelerates your cashback rate to 4% on all your purchases for the first three months after your card is activated or on the first $5,000 you spend, whichever comes first. That’s $200 cashback which is very impressive for a credit card.
2. Cash Back Rewards
The SimplyCash Card gives you straightforward rewards of 1.25% for every dollar you spend on all purchases charged on the card after your welcome bonus. Compared to other cards, 1.25% is a good rate. With this card, you can only redeem rewards once a year, which is then credited to your balance.
3. Travel Accident Insurance
The card gives you coverage if you figure in an accident while traveling on a public carrier, provided you charged the expense of paying for the ticket on the card.
4. Coverage on Your Shopping
SimplyCash has a Buyer’s Assurance Protection Plan. The plan will automatically extend the manufacturer’s warranty for up to a year when you charge items that are eligible to the card.
The card also has a Purchase Protection Plan, which ensures eligible items are charged to the card in case of theft or accidental physical damage. The coverage is for 90 days from the purchase date.
5. 24/7 Customer Service
If you have queries or concerns about SimplyCash Card, there’s always someone ready to handle your concern. You may call the customer service hotline that’s printed on your card. If your card gets lost, report it immediately, and they’ll block the lost card and send a new one to you.
Even if you’re traveling and you lose your card, they’ll ask about your itinerary and have the card sent out to you. Using their app you can manage your card and pay bills through it.
6. Front of the Line Perks
Front of the Line Presales gives you access to presale tickets, even for concerts and events that are very in-demand. As long as you charge the ticket price to the SimplyCash Card, you can use this perk.
Front of the Line Reserved Tickets lets you access seats that are reserved only for SimplyCash card members. The reserved seats for American Express are always prime, and you can avail of this perk when you charge the ticket’s cost to the card.
7. Downloadable American Express App
The American Express App is downloadable through the App Store or Play Store and makes managing your SimplyCash Card account much easier. The app allows you to register your SimplyCash card for various offers with just a click to get rewarded at the places you frequently go to.
You can access your account faster with their Touch ID, Face Recognition ID, or Fingerprint Login for Android. If you have multiple accounts with American Express, you can manage them through the app and pay your bills online. You’ll also receive notifications regarding payments due, updates on balance, and your credit card statements.
1. Credit Score
How do you know if you can become a SimplyCash cardholder? The requirements are pretty basic, so it’s easy to get approved. A credit score of between 760-900 is needed, and that’s not difficult to achieve.
2. No Annual Fees
They don’t look at personal or household income. They have no annual fees and charge nothing for an extra card.
3. Application Is Simple
Applying is simple too. It can be done online through the official American Express website.
Again, what does the SimplyCash Card from American Express offer? The SimplyCash Card from American Express offers cashback for your grocery, food delivery, and online shopping expenses. Also, for the first six months, you’re entitled to 4% cashback on your purchases. Then, you can get 1.25% cashback after. Lastly, you can enjoy zero annual fees and travel accident insurance.
A Few Drawbacks
All credit cards will have a few drawbacks. The key in choosing a card is to make sure that your benefits will be greater than the drawbacks. That being said, let’s take a look at a few considerations about the SimplyCash Card:
American Express isn’t as widely accepted as Visa or Mastercard. However, there are only very few merchants who do not accept American Express. Their cards are accepted at major merchants all over the US, Canada, and in a lot of other countries.
2. Flat Rate on Rewards
A flat rate actually means that you’ll get consistent rewards on your purchases at Simply cash’s 1.25%. For a no-annual-fee card, that’s a pretty solid rate. However, it could be a drawback as some cards have different rates for different purchases. Look at your purchasing habits to see if getting a different card plus SimplyCash will work better about getting cashback rewards.
How to Get the Most Out of the SimplyCash Card
As mentioned, SimplyCash gives you a 1.25% cashback reward on all your purchases. Other cards give a higher percentage on other purchases. The SimplyCash Card plus one more card will be a good strategy to rack up the cashback rewards.
Here is a solid example: One specific card also has no annual fees – the Tangerine Money-Back Mastercard, which offers 2% on certain purchases and 0.5% on all other purchases.
To maximize cash back rewards, you can avail of both the SimplyCash card and the Tangerine Card and then use the Tangerine Card for purchases that will fall under the 2% cashback and use SimplyCash for all other purchases.
You’ll be surprised at how much you can get back when the time to redeem the rewards comes. You’ll also have a backup card if you get both cards. It works very well if you want to get the most out of your credit cards.
The Value of Your Rewards
The standard rate for cashback rewards for SimplyCash Card is 1.25%. If you spend $20,000 a year, computed at 1.25%, you get a cashback reward of $250 which will be credited to your statement. That’s $250 – 0 annual fees = no hidden charges, net of $250.
Conclusion: SimplyCash from American Express Details and Review
The SimplyCash card by American Express is a card that gives you 1.25% on all your purchases without limit, without any conditions. It’s that simple.
The SimplyCash Card lets you get cashback rewards for every dollar you spend. All your charge on the card, from gasoline to groceries, to food deliveries to online shopping. As a welcome offer, for the first 6 months, you get 4% cashback on your purchases.
After the 6month welcome offer, you will get 1.25% on your purchases. The card charges no annual fees and comes with travel accident insurance.
Here are some quick details on the card as a recap:
- No annual fees
- 4% cashback offer for the first 6 months or when you hit $5,000 on spending, whichever comes first
- 1.25% cash back on all purchases after the 6-month promo period.
- Up to $100,000 on travel insurance
- Front of the Line Perks
- No specified income required for approval
- Annual Interest Rate is 19.99% on purchases and 21.99% on funds advancement