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American Express

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

  • Last Updated:
  • Mar 14th, 2019 3:37 am
[OP]
Member
User avatar
Jul 16, 2007
315 posts
696 upvotes

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

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)
19 replies
Newbie
Feb 22, 2012
84 posts
8 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
2877 posts
1415 upvotes
tim008 wrote: 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. | Her Majesty's Naval Service
Deal Expert
User avatar
Jan 12, 2017
19410 posts
5616 upvotes
Scarberia
damn annual fee is the dealbreaker for me lol...i'll stick with my amex airmiles card @6%interest!
*SIG: Ryzen R5 2600 cpu w/ ASrock B450M OCd to [email protected] stock cooler 16gb ram win10 pro w/radeon rx460 rogers Gigabit<< xb1 gamertag: mikka2017 >>
Deal Fanatic
Nov 11, 2008
8639 posts
2289 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
Member
Nov 30, 2007
209 posts
124 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
47613 posts
8253 upvotes
Richmond Hill
linovera wrote: 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.
Deal Expert
May 30, 2005
47613 posts
8253 upvotes
Richmond Hill
fox29 wrote: 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.
Banned
Apr 19, 2016
435 posts
226 upvotes
EPcjay wrote: 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?
Member
Oct 5, 2016
223 posts
179 upvotes
patpond wrote: 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.
Member
Oct 5, 2016
223 posts
179 upvotes
woob wrote: 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.
Jr. Member
Jun 25, 2012
106 posts
18 upvotes
TORONTO
Looks like it's only for new applicants??
Jr. Member
Aug 1, 2016
117 posts
38 upvotes
now it says cash back is upto 300 from the ratehub deal
Jr. Member
Nov 30, 2010
122 posts
13 upvotes
Vancouver
Any new promos, updates, reviews from users using this card?

I am looking to retire my amex airmiles platinum and get this instead.

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