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