Credit Cards

Amex - The SimplyCash Card

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  • Nov 19th, 2020 10:55 pm
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Deal Fanatic
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Apr 29, 2008
6926 posts
3234 upvotes
Montreal
Kiraly wrote: New deal for opening a new SC Preferred card: 10% back on first $4k spent. $99 AF still applies, so you get $301. american-express-amex-simplycash-prefer ... #p33055125

If you're going to churn and burn, make sure you complete your spending by November, since any spending you do after that won't be paid out until November 2021, after you've paid the second year's annual fee.
Why november ?
I read it’s annual credit, so it should be on september 2021 statement if you apply this month.
When you are charged second annual fee, you have 30 days to downgrade to no-fee card or cancel, they will reverse the fee.

Churning canada subreddit people seem confident on this
Deal Fanatic
Nov 24, 2013
6147 posts
2903 upvotes
Kingston, ON
cashinstinct wrote: Why november ?
I read it’s annual credit, so it should be on september 2021 statement if you apply this month.
When you are charged second annual fee, you have 30 days to downgrade to no-fee card or cancel, they will reverse the fee.

Churning canada subreddit people seem confident on this
They must be mixing Scotia Momentum November up with Amex SimplyCash September.
Deal Fanatic
User avatar
Aug 10, 2008
5519 posts
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Kiraly wrote: New deal for opening a new SC Preferred card: 10% back on first $4k spent. $99 AF still applies, so you get $301. american-express-amex-simplycash-prefer ... #p33055125

If you're going to churn and burn, make sure you complete your spending by November, since any spending you do after that won't be paid out until November 2021, after you've paid the second year's annual fee.
K, are you saying that the Preferred version of the SimplyCash card has payout in Nov? I mean, sure, I'm reading that in your quoted post above.

But, the Basic SimplyCash has payout in Sep, and I thought it was the same for the Preferred. I'm asking because I've never had the Preferred version, so I'm not aware.
Deal Fanatic
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Jan 9, 2011
9260 posts
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Vancouver
bizee-bee wrote: K, are you saying that the Preferred version of the SimplyCash card has payout in Nov? I mean, sure, I'm reading that in your quoted post above.

But, the Basic SimplyCash has payout in Sep, and I thought it was the same for the Preferred. I'm asking because I've never had the Preferred version, so I'm not aware.
Ya sorry I was mixing it up with Scotia Momentum payout. Totally forgot that payout is in Sept. I should go back and edit my posts
Sr. Member
Feb 10, 2018
990 posts
639 upvotes
Kiraly wrote: Ya sorry I was mixing it up with Scotia Momentum payout. Totally forgot that payout is in Sept. I should go back and edit my posts
I got both of them mixed up tooFace With Tears Of Joy I thought they both paid out in November actually.

I see an Amex offer for $50 credit to upgrade to Simplycash Preferred. I had the card before and it is a good card, insurance is ok. Payout in September is... annoying. I find Amex acceptance to be ok and since I got rid of Rogers WE, it could work.

I have Brim WE on FYF until about May/June of next year. At that point I will convert it to Brim Basic card to have a no-fx MC. I wonder how long the $50 credit for Amex Preferred is valid for. Terms and conditions don't mention expiry date.. even at that point, I wonder if it is worth having Amex Preferred anyways since I will only have 3 or 4 months of use.
Newbie
May 29, 2019
59 posts
40 upvotes
I have the Amex SCP. I got the card in Feb (first day on statement was Feb 18, first purchase around the 26th), and I am still getting 5% back on my purchases. So far I have about $140 back in over 6 months but shouldn't it have ended by now? If my calculations are correct the last day I should've received 5% back is August 17th (statement day for 6th bill).
Sr. Member
Oct 11, 2005
769 posts
1476 upvotes
Airdrie, AB
EDL67134234 wrote: Payout in September is... annoying.
I was surprised to see "Cash Back Credit Issued" in my account, dated Sept 8 (I had forgotten when it gets issued since it's not my regular everyday card now (spends most of its time in a drawer); in fact I've only been using it lately to take advantage of the abundance of AmEx Offers). In that past, I would get an e-mail in July or August to the effect of "How much will you earn when cash back month comes?", but didn't get one this year, so I completely didn't expect it!

I actually came to this thread to see if the payout month was posted in the OP or thread summary, but it's not. @angel_wing0, might be a helpful addition! Winking Face

I do see mention of September in the Footnotes of the SimplyCash and SimplyCash Preferred cards:
AmExSimplyCashPayout.jpg

Oddly, post-payout, I currently have a $0.96 cash back balance showing, which would imply I earned 1.25% CB on spendings near $80. I haven't even spent anywhere near $80 in August 2020, let alone September 2020, so not sure when the cut-off is. But I won't turn down free money! Face With Tears Of Joy
Sr. Member
Sep 2, 2017
778 posts
831 upvotes
Ontario
I got my cashback on the 8th too for the SC but nothing for my SCP card? Is the SCP going to get it in November like it's supposed to then?
Also would they allow me to downgrade the SCP to a normal SC even if I have a SC already?
I forget when I applied for the SCP so I don't want to pay another yearly fee, if they charge me and I downgrade or cancel that month do they waive the fee?
Deal Fanatic
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Aug 24, 2016
7421 posts
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The Prairies
Jimbo67 wrote: I got my cashback on the 8th too for the SC but nothing for my SCP card? Is the SCP going to get it in November like it's supposed to then?
Also would they allow me to downgrade the SCP to a normal SC even if I have a SC already?
I forget when I applied for the SCP so I don't want to pay another yearly fee, if they charge me and I downgrade or cancel that month do they waive the fee?
Not sure what you’re talking about, but the payout was never in November.
It’s September for both cards, and it usually happens about a week or so before your September statement is issued.
Sr. Member
Sep 2, 2017
778 posts
831 upvotes
Ontario
coolintheshade wrote: Not sure what you’re talking about, but the payout was never in November.
It’s September for both cards, and it usually happens about a week or so before your September statement is issued.
Thanks, was hearing about people mentioning November in the Amex hotdeals thread guess they were just misinformed
Member
Feb 12, 2020
209 posts
272 upvotes
Jimbo67 wrote: Thanks, was hearing about people mentioning November in the Amex hotdeals thread guess they were just misinformed
Yes, you can thank Kiraly for that LOL
Amex in September, Scotia in November, CIBC in December

Cap1 and RBC, not worth mentioning.
Edit: these issuers, in January.
Sr. Member
Nov 22, 2012
557 posts
534 upvotes
NS
CalgaryBen wrote: I was surprised to see "Cash Back Credit Issued" in my account, dated Sept 8 (I had forgotten when it gets issued since it's not my regular everyday card now (spends most of its time in a drawer); in fact I've only been using it lately to take advantage of the abundance of AmEx Offers). In that past, I would get an e-mail in July or August to the effect of "How much will you earn when cash back month comes?", but didn't get one this year, so I completely didn't expect it!

I actually came to this thread to see if the payout month was posted in the OP or thread summary, but it's not. @angel_wing0, might be a helpful addition! Winking Face

I do see mention of September in the Footnotes of the SimplyCash and SimplyCash Preferred cards:

AmExSimplyCashPayout.jpg

Oddly, post-payout, I currently have a $0.96 cash back balance showing, which would imply I earned 1.25% CB on spendings near $80. I haven't even spent anywhere near $80 in August 2020, let alone September 2020, so not sure when the cut-off is. But I won't turn down free money! Face With Tears Of Joy
The annual statement credit which posts in September is the cashback earned as of your Aug statement close date. Did you spend $76.80 after your Aug statement close date?
Sr. Member
Oct 11, 2005
769 posts
1476 upvotes
Airdrie, AB
CalgaryBen wrote: Oddly, post-payout, I currently have a $0.96 cash back balance showing, which would imply I earned 1.25% CB on spendings near $80. I haven't even spent anywhere near $80 in August 2020, let alone September 2020, so not sure when the cut-off is. But I won't turn down free money! Face With Tears Of Joy
jevonb wrote: The annual statement credit which posts in September is the cashback earned as of your Aug statement close date. Did you spend $76.80 after your Aug statement close date?
Well golly! What do you know, I actually did spend $77.89 after the August statement was issued! With all the $5 rebates on every transaction (e.g. Shop Small, Dollarama), this really masked/diminished the perceived dollar amount I spent.

That was a good catch, thanks! At least it's de-mystified now. Not so free afterall!
Sr. Member
Apr 14, 2006
614 posts
373 upvotes
St Johns
Applied approved instantly (Scp) but shitty $1k limit - will they raise if I call ? How am I’m supposed to $4000 without having to spend and pay ? Ugh

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