SimplyCash Preferred Card from American Express [Details and Review]

A cash back card is one of the most popular types of credit cards today because it lets you earn cash on your purchases. American Express cash back credit card is worth checking out. In this SimplyCash Preferred Card from American Express review, I’ll list all of its features so you can decide if it is the right credit card for you.

The SimplyCash Preferred Card from American Express allows cardholders to earn 10% cash back for the first 4 months on their purchases. Its benefits include a 2% flat rate, insurance, and other American Express perks.

Read on to learn more about the SimplyCash Preferred Card from American Express, its features, and pros and cons.

About the SimplyCash Preferred Card from American Express

The SimplyCash Preferred Card from American Express provides cardholders a welcome offer of 10% cash back for the first 4 months on their purchases. Its perks include a 2% flat rate, insurance, and other American Express benefits.

In terms of insurance, cardholders have the chance to have travel and shopping coverage. As for other American Express benefits, cardholders have the opportunity to experience world-class customer service, American Express Experiences, and other exclusive offers.

Let’s discuss all these.

SimplyCash Preferred Card from American Express 2% Flat Rate

When it comes to the 2% flat rate, it doesn’t matter what items you buy or what kind of services you get. The base rate is the same as long as you use your SimplyCash Preferred Card from American Express.

Some companies offer higher cash back rates in certain categories. But the SimplyCash Preferred Card from American Express still offers the highest rate of all. Typically, the base rates offered by other companies range between 0.5% and 1% only.

This shows that with the SimplyCash Preferred Card from American Express, you get to reap awesome rewards regardless of the spending category. Aside from that, there’s also a limit to the amount of cash back you can get.

So, for instance, you spend $2,000 on transit or gas, $15,000 on groceries, and $7,000 on all other things in one year. Using your SimplyCash Preferred Card from American Express automatically translates to $480 worth of cash back. Get the total amount of your expenses and multiply it by 2%.

This is not the case with other cash back cards, wherein you still need to identify the spending category where each item belongs to. A different rate applies to each spending category. So, if you want to compute the amount of cash back you are supposed to be getting, it might take you a while.

You first have to sort out the items according to their categories, total the amount per category, and multiply each sum with the corresponding flat rate. Then, add it all up to get the total amount of cash back.

SimplyCash Preferred Card from American Express Annual Fee

The annual fee for the SimplyCash Preferred Card from American Express is only $99. It is lower than the annual fees charged by other cash back card companies.

Once you become a cardholder, you can add a maximum of 9 authorized users without any additional charges. If your SimplyCash Preferred Card from American Express has several authorized users, it will be advantageous on your part. It would be easy for you to capitalize on your cash back potential.

SimplyCash Preferred Card from American Express Welcome Offer

Another reason why you should get a SimplyCash Preferred Card from American Express is its welcome offer for new cardholders.

The welcome offer allows new cardholders to get a 10% cash back across the board for the first 4 months. This means that all new cardholders have the chance to earn cash back up to a maximum of $400.

SimplyCash Preferred Card from American Express Travel Insurance Coverage

Whether you’re taking the plane or you’re on a road trip, you may stay protected during your whole trip. Have a worry-free trip with your travel insurance. You can get it if you book your travel or buy your travel tickets using your SimplyCash Preferred Card from American Express.

Here are the different types of travel insurance you may enjoy as a cardholder of the SimplyCash Preferred Card from American Express:

1. Out of Province / Country Emergency Medical Insurance
2. Flight Delay Insurance
3. Baggage Delay Insurance
4. Hotel Burglary Insurance
5. Lost or Stolen Baggage Insurance
6. $100,000 Travel Accident Insurance
7. Car Rental Theft and Damage Insurance

Let’s briefly discuss each one of these. Please, however, note that the following is general information about their travel insurance. You may contact their customer service team for more details:

1. Out of Province or Country Emergency Medical Insurance

As a cardholder, you can get up to $5M-worth of insurance coverage. This is for eligible emergency medical costs incurred by the insured while traveling outside their territory of residence.

This is available during the first 15 consecutive days of a covered trip. Also, this insurance applies to persons under 65 years old.

2. Flight Delay Insurance

If your flight gets delayed, you may get up to $500 worth of insurance coverage, which is the aggregate maximum amount with Baggage Delay Insurance. The amount is for your accommodation, food expenses, and sundry items bought within two days resulting from a delayed flight of more than four hours.

3. Baggage Delay Insurance

This insurance has a maximum coverage amounting to $500, the aggregate amount with Flight Delay Insurance.

The Baggage Delay Insurance basically covers emergency purchases such as clothing and sundry items. Items covered are those brought within four days resulting from delayed baggage of more than six hours.

4. Hotel Burglary Insurance

You can get Hotel Burglary Insurance if you book your travel using your SimplyCash Preferred Card from American Express. The maximum amount of insurance you can get is $500, covering the loss of most valuable and personal items if your accommodation is burglarized. This, however, does not include the amount of cash lost.

5. Lost or Stolen Baggage Insurance

If you buy your plane, train, ship, or bus ticket using your SimplyCash Preferred Card from American Express, you can be covered with the Lost or Stolen Baggage Insurance. This insurance also covers damages to your baggage while in transit. The maximum amount of coverage per trip is $500.

6. $100,000 Travel Accident Insurance

Accidental Death and Dismemberment Insurance is also available for cardholders. You can get it as long as the full amount of your travel tickets are paid using your SimplyCash Preferred Card from American Express.

7. Car Rental Theft and Damage Insurance

If your rental car gets lost or damaged during your trip of 48 days or less, you can take advantage of this protection. 

Again, what does SimplyCash Preferred Card from American Express offer? The SimplyCash Preferred Card from American Express cardholders can earn around 10% cash back for the first four months on their purchases. Other card benefits include a 2% flat rate, insurance, and other exciting American Express bonus.

SimplyCash Preferred Card from American Express Shopping Insurance Coverage

Your SimplyCash Preferred Card from American Express can help protect the items you buy. In fact, you can take advantage of this insurance whether items are bought online or in physical retail stores.

There are two types of protection plans for consumers, namely:

• Buyer’s Assurance Protection Plan
• Purchase Protection Plan

Similar to the travel insurance, please note that the following is general information about their shopping insurance. You may contact their customer service team for more details:

Buyer’s Assurance Protection Plan

If the items you bought are fully paid using the SimplyCash Preferred Card from American Express, you can be covered by the Buyer’s Assurance Protection Plan. This plan allows you to extend the items’ original warranty up to an additional year.

Purchase Protection Plan

This protection plan is for accidental physical damages or theft involving the items bought using your SimplyCash Preferred Card from American Express. You can claim a maximum amount of $1,000 per occurrence for all bought items combined.

American Express SimplyCash Preferred Card Experiences

When we say American Express Experiences, it means that cardholders of the SimplyCash Preferred Card from American Express can enjoy access to the following:

• Best concerts,
• Sports events,
• Entertainment activities, and more.

To give you an idea, here are several types of American Express Experiences:

1. Front Of The Line Reserved Tickets
2. Front of The Line Presales
3. Dining with American Express Experiences
4. Entertainment with American Express Experiences
5. Wellness with American Express Experiences
6. Retail with American Express Experiences
7. Onsite Benefits with American Express Experiences

Let’s briefly talk about these perks:

1. Front Of The Line Reserved Tickets

Get this benefit by buying tickets for concerts or other major events using your SimplyCash Preferred Card from American Express. There are always great seats exclusive for cardholders.

2. Front of The Line Presales

If you’re a SimplyCash Preferred Card from American Express cardholder, you are eligible to buy pre-selling tickets. This may include concerts, theater productions, and other forms of special events.

3. Dining with American Express Experiences

Cardholders have special access to exclusive events such as food festivals, mini-concerts in hotels, and other special events.

4. Entertainment with American Express Experiences

American Express Experiences include entertainment events exclusive for cardholders. These include advance movie screenings, theater packages, and more.

5. Wellness with American Express Experiences

Special events are focusing on wellness that is exclusively curated for cardholders. These events include:

• Yoga sessions,
• Zumba classes, and
• Other activities that will help you take care of yourself.

6. Retail with American Express Experiences

The American Express Experiences includes private shopping events exclusive only for cardholders. These events can be online or in physical retail stores.

7. Onsite Benefits with American Express Experiences

There are a whole lot more benefits for cardholders. These may include a concert backstage pass or front gate pass, relaxing in the American Express Lounge, taking the priority lane in theaters, and more.

World-class Customer Service for SimplyCash Preferred Card Holders

If you’re a cardholder of the SimplyCash Preferred Card from American Express, then you’re in for some world-class customer service. Their customer service goes beyond merely being available 24/7.

If you’re a victim of credit card fraud, you will not be responsible for fraudulent charges. If your credit card gets lost, call their customer service team to request for card replacement. When it comes to online shopping, your card’s American Express SafeKey feature provides your account with an extra layer of protection.

Also, if you want to manage your account conveniently, feel free to download the American Express app.

SimplyCash Preferred Credit Card from American Express – Pros and Cons

Here are some of the pros and cons of using the SimplyCash Preferred Card from American Express:

Amex S

implyCash Preferred Pros

• Excellent welcome offer
• Low annual fee
• Cardholders are allowed to add up to 9 authorized users
• Impressive travel insurance
• Earn from referrals
• Exciting American Express perks

Amex S implyCash Preferred Cons

• Rebates are received on an annual basis
• Doesn’t provide insurance for mobile device
• Limited use compared to Visa or Mastercard

Conclusion – SimplyCash Preferred Card from American Express

The SimplyCash Preferred Card from American Express provides cardmembers a welcome offer of 10% cash back for the first 4 months on their purchases. Its perks include a 2% flat rate, insurance, and other American Express benefits.

With all the amazing benefits this card offers, it is expected to be included in the best cash back credit cards list. In essence, the SimplyCash Preferred Card from American Express is generally ideal for everyone. But then, it still all depends on your own preference as well as your spending habits.