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[American Express] [AMEX] SimplyCash Preferred Card - $351 cashback with $6000 / 6 months minimum spend

  • Last Updated:
  • Dec 8th, 2017 12:47 am
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Member
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Jul 16, 2007
217 posts
107 upvotes

[American Express] [AMEX] SimplyCash Preferred Card - $351 cashback with $6000 / 6 months minimum spend

Retailer:
American Express
More offers from American Express
This could be a decent deal for those who are able to meet the minimum spend with an AMEX card.

If you apply for an American Express SimplyCash Preferred card through GCR you will get $50 upon approval.

Through their link, the card's signup deal is 5% cashback for the first 6 months - or until a cashback of $300 has been reached (which is a $6000 spend).
After the bonus cashback rate boost is completed, the regular cashback rate kicks in, which is 2%.

The only negative is that there is a $99 annual fee for this card.
But, if you spend $6000 in your first 6 months, you will get an additional $100 in cashback from AMEX. This is pretty much equivalent to a first-year fee waiver.

So, if you can meet the $6000 spend in the first 6 months, there is the potential to gain:
$50 from GCR for credit card approval
$300 cashback (at the 5% rate)
$100 bonus cashback from AMEX
2% cashback afterwards
minus a $99 annual fee

Potential net cashback: $351 (after a $6000 spend is met) + 2% (for purchases after the $6000 spend)
Note that the card includes a very nice premium insurance coverage for car rental, travel accident, out of province medical, lost or stolen baggage, flight delay, baggage delay, Hotel / Motel Burglary, Buyer’s Assurance & Purchase Protection which some may find useful as well

To get this deal, signup for it through GCR (just google GCR if you don't know what it is)
17 replies
Newbie
Feb 22, 2012
67 posts
5 upvotes
Toronto
I'd take out another $120 as that's the equivalent cash back from other cards at 2% for $6000. Net $230 would be an average sign up bonus.
Deal Addict
User avatar
Aug 4, 2003
2413 posts
886 upvotes
tim008 wrote:
Nov 25th, 2017 6:20 pm
I'd take out another $120 as that's the equivalent cash back from other cards at 2% for $6000. Net $230 would be an average sign up bonus.
You are very correct sir, the true bonus is extra 3% and $50 GCR as the AMEX $100 will be erased by the annual fee.
Loose lips sink ships.
Deal Addict
Jan 12, 2017
1495 posts
221 upvotes
damn annual fee is the dealbreaker for me lol...i'll stick with my amex airmiles card @6%interest!
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Deal Fanatic
Nov 11, 2008
7010 posts
986 upvotes
I still remember when they has the amex gold card with 2% cb on everything no annual fee. My only complaint is not everywhere accepts amex
Newbie
Nov 30, 2007
59 posts
34 upvotes
How does the $600 back work? The website say's 'upto $300 cashback' but doesn't show details of how you get upto a $600 reward; seems to contradict themselves; I must be missing something....
Deal Expert
May 30, 2005
39346 posts
1437 upvotes
Richmond Hill
linovera wrote:
Nov 25th, 2017 11:43 pm
https://www.ratehub.ca/credit-cards/car ... an-express

Rate hub deal may be better
10% rebate for first 6000$ in six months

Ratehub's 10% offer is valid for gas, grocery, and restaurants only. The standard 5% offer does not have category limitations.
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Deal Expert
May 30, 2005
39346 posts
1437 upvotes
Richmond Hill
fox29 wrote:
Nov 26th, 2017 12:25 am
How does the $600 back work? The website say's 'upto $300 cashback' but doesn't show details of how you get upto a $600 reward; seems to contradict themselves; I must be missing something....
That's probably a typo because their standard offer is 5%, and 5% of $6000 is $300.
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Member
Apr 19, 2016
377 posts
141 upvotes
EPcjay wrote:
Nov 25th, 2017 11:36 pm
I still remember when they has the amex gold card with 2% cb on everything no annual fee. My only complaint is not everywhere accepts amex
That is why amex have to offer better rate , otherwise who the hell gonna to use them . Not accept? And not good enough rate?
Newbie
Oct 5, 2016
47 posts
15 upvotes
patpond wrote:
Dec 2nd, 2017 9:27 pm
Very attractive offer! Can you hit the spend by getting gift cards? I might find it hard to hit $6000 spend in 6 months without that option...
yes, you can buy gift card. I combined with 10X air miles offer last time at Shell, bought several thousands of Shoppers Gift Card (equivalent to 10% off). And 5% rebate from Amex. Then buy CT gift card at Shoppers when on sale for 10% off using SDM gift card. In total, you get 25% off for filling gas at CT gasbar. and save even more using 2cents survey coupon + earn CT e-money.
Newbie
Oct 5, 2016
47 posts
15 upvotes
woob wrote:
Nov 27th, 2017 12:02 pm
Oh I didn't know about the Ratehub promo. Ratehub's link doesn't seem to offer the extra $100 cashback bonus upon reaching a $6000 spend though...
Yeah, depend on your preference. You get 10% on Grocery, gas and restaurant only.

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