Credit Cards

Amex - The SimplyCash Card

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  • Oct 7th, 2020 12:28 am
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Deal Fanatic
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Dec 11, 2005
8011 posts
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TO
junggoo wrote: 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.
I swear I recently called CIBC Dividend and was told new payout in January of each year.
These payout dates should be stickied post somewhere lol
Achieva Financial /KOHO / STACK (0% FX Fee) /Tangerine / EQ Bank member / I use Plastiq for paying bills with my CC

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Sr. Member
Apr 14, 2006
607 posts
362 upvotes
St Johns
Question : I just received the card, assuming I meet the MRSP and pay it off will I get paid this month?
Deal Fanatic
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Aug 24, 2016
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The Prairies
tradinghumble wrote: Question : I just received the card, assuming I meet the MRSP and pay it off will I get paid this month?
No, you’re too late.
Payouts were as of August statement.
Any purchases after that, get carried over to September next year.
So your cash back will accrue until your August 2021 statement, and any cash back earned as of August statement, will be awarded just before your September statement.
Deal Addict
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Apr 2, 2010
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GTA
TorontoEh wrote: I swear I recently called CIBC Dividend and was told new payout in January of each year.
These payout dates should be stickied post somewhere lol
Yes, that sounds right.
It used to be Dec if anyone is wondering but they switched it up to Jan.
Jr. Member
Sep 11, 2017
157 posts
82 upvotes
Noob question. Why are people referring to cash back for simply cash AMEX as being 1.5%? AMEX website says it's 2% after the promotional period ends.

With $99 AF and 2% CB, isn't this card better than Rogers WE (1.75% CB)?
Deal Addict
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Jan 16, 2007
1031 posts
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There's two cards. SimplyCash is 1.25% without an annual fee and less insurance coverage. SimplyCash Preferred is 2% with annual fee ($99) and insurance coverage.
Newbie
Feb 12, 2011
44 posts
54 upvotes
Ottawa
PhoneyStoney wrote: With $99 AF and 2% CB, isn't this card better than Rogers WE (1.75% CB)?
Rogers WE is 1.5% and whether it's better depends on how you factor in acceptability (MC is accepted pretty much everywhere, Amex can be limited), annual spending (after 20k/y spent the annual fee breaks even for 2% vs 1.5% no AF), and sign-up bonus (Rogers is like $25? vs $400 SCP).
Deal Addict
May 7, 2006
2083 posts
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I have an Amex Cobalt currently and had the Amex Simply preferred card years ago when Costco accepted Amex but cancelled the card long ago. Could I apply for this card, get the CB again, cancel the Cobalt, wait at least 3 months then get the Cobalt bonus again? My association has a promo for signing up with the Cobalt Amex.

Thanks in advance!!
Jr. Member
Apr 16, 2020
188 posts
251 upvotes
aokec wrote: I have an Amex Cobalt currently and had the Amex Simply preferred card years ago when Costco accepted Amex but cancelled the card long ago. Could I apply for this card, get the CB again, cancel the Cobalt, wait at least 3 months then get the Cobalt bonus again? My association has a promo for signing up with the Cobalt Amex.

Thanks in advance!!
That depends on your risk tolerance in regards to Amex shutdowns.
Deal Addict
May 7, 2006
2083 posts
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Kneader wrote: That depends on your risk tolerance in regards to Amex shutdowns.
Thanks, if I applied again for the Simply Preferred Amex card, could that trigger a shutdown too? Thaniks
Deal Fanatic
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Aug 10, 2008
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aokec wrote: Thanks, if I applied again for the Simply Preferred Amex card, could that trigger a shutdown too? Thaniks
Who knows. So many different stories blowing around. One person may say YES, another may say NO.

Whatever you do, note that the Amex SimplyCash Preferred has $60 GCR, 10% on first $4000 spent, and $99 AF. However, apparently it's not 10% on the first $4000, but rather $5000! Would that be tempting enough for you to pull the trigger?

See @LarryT778370's post #118 here: american-express-amex-simplycash-prefer ... t-2400284/
So, apparently it's actually 8% bonus cashback for the first $5000, on top of the base 2%.

One more thing. If you really are into the game of enriching your CC bonuses, you can live in fear, or you can face it. Yes, there's always that blade hanging overhead nowadays with the Amex guillotine. But, as Andy Dufresne said it, get busy living, or get busy dying. Up to you to choose how you want to live. There's no guaranteed formula to guide you along. But, good luck.

Bee, who btw, thinks the answer to your question is....

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