SimplyCash Card From American Express Review (Feb 2023)

January 15, 2023
Reviews

The Simplycash Card from American Express is a no-fee cash back credit card that offers a very generous cash back rate of 2% on eligible purchases and a flat 1.25% on all other purchases. Additionally, you'll have access to different lending services like American Express Personal Loans and Plan It Installments so you can make that big purchase.

The SimplyCash Card from American Express is a great option for frequent travelers looking for a card with no annual fees that offer insurance coverage – albeit limited – plus access to emergency services, like American Express Safekey, Emergency Card Replacement, and fraud protection, 24/7.

What Is The SimplyCash Card From American Express?

The SimplyCash Card from American Express is a no-fee cash back credit card issued by American Express, one of the largest credit card networks worldwide. This card offers generous benefits considering it doesn't have a minimum income requirement – or charges an annual fee –, making it a good option for individuals with a low income.

With the SimplyCash Card from American Express, you will have limited insurance coverage when you travel or make a purchase, and you can earn up to $100 in statement credits within your first three months by spending at least $300 in that same period. Additionally, you'll have access to American Express exclusive lending programs like the American Express Personal Loans, the Plan It Installment Program, and the Flexible Payment Option program.

The American Express credit card network is among the largest in Canada and the world, and it's accepted nationwide.

SimplyCash Card From American Express Features 

#1 Earn Up To 2% Cashback On Eligible Purchases

The SimplyCash Card from American Express lets you can earn 2% on eligible purchases, plus a flat rate on all other purchases. There's no limit to how much cash back you can earn:

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  • 2% cash back on qualified gas and grocery purchases in Canada
  • 1.25% cashback on everything else

#2 No Annual Fee

The SimplyCash Card from American Express doesn't charge an annual fee. However, there are still other fees for services and transactions that may apply.

#3 Comprehensive Travel And Purchase Insurance

The SimplyCash Card from American Express comprehensive coverage includes:

  • $100,000 Travel Accident Insurance for accidental death and dismemberment if you use the SimplyCash Card from American Express to pay for your transportation.
  • Buyer’s Assurance Protection Plan extends the manufacturer’s warranty for an additional year on eligible purchases
  • Purchase Protection Plan covers items bought by this credit card for 90 days from the purchase date, offering up to $1,000 per occurrence, such as theft or accidental physical damage

#4 Access 24/7 Emergency Services

SimplyCash Card from American Express offers cardholders 24/7 customer support and access to on-demand emergency services, including

  • Emergency Card Replacement – allows you to replace your primary or additional cards if it is lost or stolen
  • Fraud Protection Guarantee – protects you from liabilities in case of fraudulent purchases made with your card
  • American Express Safekey – protects your credit card from online transactions
  • Manage your account using the American Express App and access Online Services

#5 Earn Up To $100 Statement Credits

Cardholders can get up to $100 statement credits using the SimplyCash Card from American Express. To qualify, you must have at least $300 purchases on your card for the monthly billing period. Each month, you can get a $10 statement credit for the first ten months of card membership for a total of $100.

#6 Get Various Lending Options 

The SimplyCash Card from American Express serves as your pass to American Express lending benefits and the American Express Installment Program. Here are all the services:

  • American Express Personal Loans allows you to access loan amounts ranging from $3,500 to $40,000 for 12, 24, or 36 months terms options.
  • Plan It Installment Program enables you to pay a portion of the balance on an installment basis.
  • You can request to increase your credit limit using the American Express Online Services account.
  • Flexible Payment Option offers flexibility to pay a part of your balance over time. 

#7 Exclusive Access To American Express Programs

The SimplyCash Card from American Express comes with exclusive access to American Express Experiences, special offers, and access to the American Express Travel Online portal.

SimplyCash Card From American Express Pros And Cons 

Pros 

  • No annual fee
  • Decent cashback rate (up to 2% cashback)
  • Offers complimentary travel and shopping insurance coverage
  • Get 24/7 customer and emergency services
  • Access to various lending and installment options from American Express
  • Generous welcome bonus (up to $100 statement credits)

Cons

  • Not as widely accepted as the Visa or Mastercard credit card networks
  • You can only redeem cash back rewards once a year

Pricing

FeesRate/Cost
Basic Card (Annual Fee)$0/year
Interest Rate20.99% on purchases
21.99% on funds advances
Funds advance$2.75 each
Dishonored Payment$25 each
Statement Reprint$3 per statement
Points Reinstatement$20 each through online services
$30 each through other service channels
Overlimit$29 
Balance Transfer or Amex Cheque3% of the amount of the balance transfer and Amex cheque
Installment Program1.2% monthly fee on each balance moved to the installment program

Eligibility

Before you get the SimplyCash Card from American Express, you must comply with its eligibility. The good thing about this credit card is it does not require an annual income requirement. Meanwhile, you should note down these criteria to get the card:

  • You must be a Canadian resident
  • You must possess the majority of the age in your province or territory. For reference, the age of the majority in Manitoba, Alberta, Ontario, Quebec, Saskatchewan, and Prince Edward Island is 18 years old, while 19 years old in all other provinces.

In Summary

The Simplycash Card from American Express is a no-fee cash back credit card that offers a very generous cash back rate of 2% on eligible purchases and a flat 1.25% on all other purchases. Additionally, you'll have access to different lending services like American Express Personal Loans and Plan It Installments so you can make that big purchase.

The SimplyCash Card from American Express is a great option for frequent travelers looking for a card with no annual fees that offer insurance coverage – albeit limited – plus access to emergency services, like American Express Safekey, Emergency Card Replacement, and fraud protection, 24/7.

SimplyCash Card From American Express FAQs

How much does the SimplyCash Card From American Express cost?

A SimplyCash Card From American Express has no annual fee. However, it has service and transaction fees needed to be paid. Some of these are the fund's advance fee worth $2.75 each, a dishonored payment fee of $25, and more. 

Is the SimplyCash Card From American Express worth It?

Yes, the SimplyCash Card From American Express is worth it. It has no annual fee and minimum income requirement, with a considerable cashback rate of up to 2%. 

Is the SimplyCash Card From American Express safe?

Yes, the SimplyCash Card From American Express is safe. American Express secured card holders' in-store and online transactions with the American Express Safekey. It also provides Fraud Protection Guarantee preventing cardholders from liabilities due to fraudulent activities occurring on their account. 

Is the SimplyCash Card From American Express legit?

Yes, the SimplyCash Card From American Express is legit. It is accepted by various participating merchants and issued by American Express, a reputable company. Transitions made using this card are legitimate. 

What is the hardest Amex card to get?

The hardest Amex Card to get is the Centurion Card, also known as the “Black Card.” You can only qualify for it if you have an invitation from American Express. It is also determined that you must have annual spending of up to $500 to be eligible which typically targets rich cardholders. 

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