[American Express] Amex SimplyCash Preferred™ Card: 10% cashback welcome offer on first $5,000 spent)
- Deal Link:
- American Express
10% cashback for up to $5,000 MSR for the first 4 months of spend.
(Bonus $400 is extra 8% on $5,000 spent, even though amex marketing says $4,000)
New offer starting September 2, 2020
1) That works out to $500 total cashback ($100 regular + $400 bonus)
2) Since Sept 11, 2020, GCR offers $60 for applying for this card.
3) Have to pay the $99 annual fee
= your net gain is $461 on first $5,000 spent.
($500 + $60 - $99)
9.22% cashback considering gcr and annual fee.
2% cashback on anything after the welcome offer.
Cashback is only redeemable once a year in September, so you'd have to wait until next year to get the cashback.
You can cancel up to 30 days after annual fee has been posted (in one year) and get refund on 2nd year annual fee.
You might be able to keep credit history by switching to the free version.
Hard hit with transunion
Don’t get a supplementary card while applying, since amex offers $10 cashback to add a supp. Card when you activate the primary card online.