Credit Cards

Amex - The SimplyCash Card

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[OP]
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Amex - The SimplyCash Card

They have planned an event on the evening of Sept 3rd. I will be there and I am sure I will meet some fellow RFD'ers too (met jerryhung during the one in 2013). Say hi if we do bump into each other :D

I have no idea what the card will be, so hoping that it's a good card this time! (2% cb no annual fee at least?)

And of course, will update the thread throughout the event.

EDIT: It looks like the card has already been announced and it's called The SimplyCash Card.

There will be two versions: No annual fee and $79 annual fee.

No annual fee version (SimplyCash)
- Welcome Bonus: 5% cashback at gas stations, grocery stores and restaurants in Canada for first 6 months (up to $250 cb = $5000 spending)
- 1.25% for everything else and above after 6 month promo ends.

$79 annual fee version (SimplyCash Preferred)
- Welcome Bonus: 5% cashback on everything for first 6 months (up to $400 cb = $8000 spending)
- 1.5% up to $100,000 spending annually, after 6 month promo ends
- 1.25% after you passed the annual $100,000 tier
- Extra insurance coverage compare to NAF SimplyCash (refer to comparison link below for details)

Applies to both cards
- Cash back is applied as a credit to your account annually
- No annual fee for Supplementary Cards
- No annual cashback limit

Direct comparison of the two cards on AMEX website: https://www.americanexpress.com/ca/en/c ... ard=card25
Last edited by Redmask on May 13th, 2019 9:03 am, edited 1 time in total.
Reason: Updated thread title
Thread Summary
Regarding inquiries about the possibility of converting from one Simply Cash to another.
This is taken from the credit card agreement.

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2127 replies
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Aug 26, 2008
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Vancouver
angel_wing0 wrote: (2% cb no annual fee at least?)
At a minimum it would have to be since it's an AMEX (not accepted in many places) and because MBNA RWE.

But I'm not holding my breath.

It might have something to do with the Costco switch so the new card may be similar to TrueEarnings - extra cashback in restaurants/gas.
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A preview?

http://blog.rewardscanada.ca/2014/09/in ... ycash.html

The SimplyCash Preferred Card
Welcome rate of 5% cash back on all purchases in the first 6 months (up to $400 cash back)
1.50% cash back on purchases up to $100k when the welcome rate ends (1.25% cash back over $100k)
$79 annual fee
Insurance coverage, including Travel Accident, Buyers Assurance, Purchase Protection, Car Rental & Theft Damage Insurance , Emergency Medical, Hotel/Motel Burglary Insurance, Lost or Stolen Baggage, Flight Delay, Baggage Delay Insurance
Front of the Line access to the hottest entertainment

The SimplyCash Card
Welcome rate of 5% cash back on all eligible purchases in Canada at gas stations, grocery stores and restaurants in the first 6 months (up to $250 cash back)
1.25% cash back on all other purchases and when the welcome rate ends
No annual fee
Insurance coverage, including Buyers Assurance, Purchase Protection, Travel Accident, Car Rental & Theft Damage Insurance
Front of the Line access to the hottest entertainment
[OP]
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123nicolas wrote: A preview?

http://blog.rewardscanada.ca/2014/09/in ... ycash.html

The SimplyCash Preferred Card
Welcome rate of 5% cash back on all purchases in the first 6 months (up to $400 cash back)
1.50% cash back on purchases up to $100k when the welcome rate ends (1.25% cash back over $100k)
$79 annual fee
Insurance coverage, including Travel Accident, Buyers Assurance, Purchase Protection, Car Rental & Theft Damage Insurance , Emergency Medical, Hotel/Motel Burglary Insurance, Lost or Stolen Baggage, Flight Delay, Baggage Delay Insurance
Front of the Line access to the hottest entertainment

The SimplyCash Card
Welcome rate of 5% cash back on all eligible purchases in Canada at gas stations, grocery stores and restaurants in the first 6 months (up to $250 cash back)
1.25% cash back on all other purchases and when the welcome rate ends
No annual fee
Insurance coverage, including Buyers Assurance, Purchase Protection, Travel Accident, Car Rental & Theft Damage Insurance
Front of the Line access to the hottest entertainment
lol hey the card is not bad at all, amex is doing their homework for sure.
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Oct 8, 2006
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angel_wing0 wrote: lol hey the card is not bad at all, amex is doing their homework for sure.
Sorry, AW, this card is very weak and useless. Hoped for something better than this. :(
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Preview not necessary, all details are already on the American Express website:

https://www.americanexpress.com/ca/en/c ... mply-cash/

5% flat cash back on everything (up to $400) on the preferred card is quite impressive, but afterwards, 1.5% flat is unimpressive if you're lucky enough to hold the Capital One Aspire Cash World card which gives the same benefits, but for free. And then you have a various number of more competitive cards geared towards higher spenders, most notably.. MBNA RWE which will have wider acceptance or any one of the grocery + gas options.

Their free card is competitive.. only comparable one is the Capital One Aspire Cash World if you were able to get on that when it was available.. otherwise, 1.25% is an above-average flat earn rate with good benefits package. Also, very low income requirement opens the doors.
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Aug 26, 2008
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$79 annual fee for 1.5% cb and Amex
vs.
$89 annual fee for 2% cb and MasterCard (MBNA RWE)

Yeah, no contest.

The no annual fee card is worth getting if one doesn't have the free cards (NLA or YMMW) with better cb.
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"SimplyCash"... and they offer 2 different cards, one free and one with $79 annual fee, it's simple! :)

Same 5% promo for the first 6 months, but one is on all expenses ($79 annual fee) while the free one is for grocery-gas-restaurants (free one)....

____

From the footnotes:
[QUOTE]3. ... Cash back is applied as a credit to your account annually.[/QUOTE]
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Sep 19, 2004
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I think it's better than amex airmile credit card.

anyone knows if I can convert my amex airmile cc to this simplycash cc? or I have to apply to simplycash one and cancel the old airmile cc?

thanks.
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lhsonic wrote: Preview not necessary, all details are already on the American Express website:

https://www.americanexpress.com/ca/en/c ... mply-cash/

5% flat cash back on everything (up to $400) on the preferred card is quite impressive, but afterwards, 1.5% flat is unimpressive if you're lucky enough to hold the Capital One Aspire Cash World card which gives the same benefits, but for free. And then you have a various number of more competitive cards geared towards higher spenders, most notably.. MBNA RWE which will have wider acceptance or any one of the grocery + gas options.

Their free card is competitive.. only comparable one is the Capital One Aspire Cash World if you were able to get on that when it was available.. otherwise, 1.25% is an above-average flat earn rate with good benefits package. Also, very low income requirement opens the doors.
I think they are both very comparable and in many ways better. Aspire only give 1% back, where the two new cards give 1.25 and 1.5 respectfully. The preferred has more travel benefits than the Aspire. Hotel/motel burglery, Flight delay, medical protection, lost/stolen baggage.

So the new cards seem much better. Even the one with the annual fee since there are more travel benefits than the Aspire.
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sunvv wrote: I think it's better than amex airmile credit card.

anyone knows if I can convert my amex airmile cc to this simplycash cc? or I have to apply to simplycash one and cancel the old airmile cc?

thanks.
You would have to apply for it.
[OP]
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Mar 23, 2004
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No fyf is a big killer, although you can earn more than enough to cover it during the 5% promo period. The card has its weaknesses, but i wouldnt go as far to say that it's completely useless. I actually will probably go for the free one for the 5% in the first 6 months ($5000 spending on GC? OH YEAH).

And thread title is updated.

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