SimplyCash Card from American Express Review

Max Earnings Rate
Annual Fee
Purchase Interest Rate
Min Personal Income Required
Recommended Credit Score
740 850 670 739 580 669 0 579
New SimplyCash™ Card from American Express Cardmembers can earn 2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership.



Looking for a rewards credit card that’s simple, has no tricks and is exceptionally rich? The new no annual fee SimplyCash card from American Express has the highest no-fee flat cash back rate of 1.25% in Canada, on everything you buy, with unlimited earning potential.

Need another incentive to try it out? American Express is now offering 2.5% cash back for the first 3 months on eligible purchases spend in Canada! With no annual fee, the 2.5% promotion itself makes the card a bargain, and worth trying – even if you plan on only using it for the 3 month promo.

Credit CardEarn RateBonus Categories
The NEW SimplyCash Card from American Express1.25%2.5% on gas, grocery & restaurants for first 6 months
HSBC MasterCard1%
ATB Gold Cash Rewards1%
RBC Visa Cash Back1%
BMO Cash Back MasterCard1%
TD Cashback Mastercard0.75%
ScotiaBank Momentum0.5%1% on gas, grocery, drugstore & recurring payments
National Bank Edition0.5%
Van City Enviro Classic0.5%

SimplyCash At A Glance:

  • 1.25% cash back on all spend with no caps – unlimited earning potential
  • Bonus of 2.5% cash back on all eligible purchases at gas stations, grocery stores and restaurants (up to $150 back) for the first 3 months
  • No annual fee
  • No annual fee on additional cards
  • 1.99% interest rate on balance transfers for 6 months, 0% balance transfer fee at time of application!
  • Insurance coverage including Travel Accident, Buyers Assurance, Purchase Protection, Car Rental Theft & Damage
  • Front of the line access to the hottest entertainment

Why It’s A Winner:

We like the no fee SimplyCash card a lot because it hits on the features most Canadians are looking for in a cash back credit card: no annual fee, the richest cash back rate of 1.25% on all purchases in Canada, the simplicity of a flat earn rate on ALL spend with no limits on earnings, and a sign-up bonus of 2.5% cash back on gas, groceries and restaurants in the first 3 months is unparalleled.

With no annual fee, it makes for a great complimentary card. You can use the Amex card to get 2.5% cash back in the first 3 months on eligible purchases, while using another cash back or rewards card that offers more in other categories. Likewaise, you can use the SimplyCash card to earn 1.25% on all your spend, and another no fee cash back card to earn 1% where Amex isn’t accepted – maximizing your rewards.

To top it off, Amex is offering a 1.99% interest rate on balance transfers for the first 6 months, with no balance transfer fee at time of application.

Card Type and Interest Rate

The SimplyCash Card is classified by Amex as a ‘credit card,’ rather than a charge card (which has higher interest rates). The card comes with a 19.99% interest rate on purchases and 22.99% on cash advances.*

Purchase interest rates can increase to 23.99% and/or 26.99% in the event that multiple payment dates are missed. Be sure to read through the card’s other relevant interest rates before you apply.

SimplyCash Credit Card Fees

Annual Fee$0
Additional Card Fee$0 each
Late Fee$25
Foreign Transaction Fee2.5%
Funds Advanced$2.75 each
Dishonoured Payment$25
Statement Reprint$3
Cash Back Balance Reinstatement$20/$30
Balance Transfer/Amex Cheque0% each
Installment Program8%

Eligibility Requirements

Eligibility requires Canadian residency, a Canadian credit file and age of majority in the province or territory where you live.

How Does The SimplyCash Card Stack-Up?

We did a competitive comparison with other flat rate, no fee credit cards and we found the SimplyCash card offered 25% more rewards than its next closest competitor and it’s 2.5% cash back on purchases for the first 3 months was simply unmatched.

*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.

**This post was not sponsored. The views and opinions expressed in this review are purely my own.

Article comments

Dustyjean says:

Does this card offer extended warranty protection

The GreedyRates Team says:

Hi Dustyjean,

Thanks for coming to GreedyRates. The Amex SimplyCash card does offer extensions when you purchase an item covered by a manufacturer’s original warranty. Your warranty is automatically doubled up to an additional year thanks to the Buyer’s Assurance perk listed in our article. It also comes with a Purchase Protection Plan, which insures your eligible purchases against accidental physical damage and theft. Good question!


WC says:

Hi Guys,

I am interested in this card. I am a new immigrant so have a short credit history in Canada of only 3 months. I have a TD cash back rn.
What are the odds that I will be approved for this card?


The GreedyRates Team says:

Hey WC,

Great question. First off, welcome to Canada, and second, we think that if you’ve been here for 3 months and have used your TD card in that time, you may have a mature enough credit profile here to obtain credit from other banks. Since the TD cash back is your first card, then we assume that TD was also the bank that got you set up with your first Canadian financial products. If so, then they also helped you start a credit report with Equifax or TransUnion, and so before you decide to apply for another card you should try to determine what your credit score is.

Though Amex cards don’t usually state credit requirements or income requirements, even one as basic as the SimplyCash card should only be applied for if you’re reasonably confident you’ll be approved. With only 3 months in Canada you don’t want to start with a hard check followed by an application denial. If you can’t get your hands on a credit report or don’t feel confident, you can always look for a similar TD card and ask your bank about it. They’re one of the few in Canada familiar with you, so you have a better chance of approval in this case.


Tom says:

I believe there’s an important aspect that this site might be missing, which is the repayment system of different cards. I have recently applied for this simply cash AE and took advantage of the balance transfer, and the 5% rebate for first 6 months. Sadly, I found out that when you make payments, they don’t pay off your purchases balance first. An AE staff told me it’s around 80% (she doesn’t even know the exact amount) that goes to higher interest rate balance first, then the remaining payment portion goes to the lower “promotional” rate. As a result, if you are going to make purchases to take advantage of the promotional rebate like you guys advertise them here AND take the supposed low interest rate balance transfer, you will end up not receiving ONLY the advertised low interest rate. I’m not sure how other cards’ repayment system works, but this drawback from AE card is certainly something one should carefully consider before applying.

The GreedyRates Team says:

Hello Tom,

We appreciate your comment about balance transfers, and the best balance transfer deals around currently. If you’ve already reached an agent about how they split the payment of your statement between high and low interest, then you know exactly how to optimize the situation to your advantage! We recommend in many of our articles to only use balance transfer cards as a tool for “parking” your debt, and to put purchases on these cards with extreme caution. It’s not just because you’ll distract yourself from your primary goal, it’s because with two “tiers” of debt on the same card, the bank might not allocate your payments in your best interest.

Regardless, thanks for bringing this issue to attention again for readers who haven’t yet encountered it. This is always a relevant question for your bank representative if you plan on using your balance transfer card as a primary card as well (“What portion of my monthly maximum payment is put towards my low-interest promotional balance, and what portion towards my monthly purchases balance?”).


Swimstuff says:

Right now I have a student credit card and an income lower than $10,000 if I apply will they approve me for one?

The GreedyRates Team says:

Hi Swimstuff!

We’re glad that you like the Amex SimplyCash card and we think that you have a shot at getting approved, pending a few items. Though Amex didn’t publish any information regarding a minimum income requirement for eligibility, it’s because they put a greater emphasis on credit than income. You should make sure that your credit is in good shape before applying, and we know you have credit (even as a student) because you have a student credit card already. If you used it responsibly, it will demonstrate to other lenders that you’re ready for an upgrade. In these circumstances, your chances are better than they would be otherwise, but we can’t say for sure whether you’ll be approved, as we have no administrative association with the banks and issuers we discuss on our site. Thanks!


GreedyReader says:

How much time should I give before applying for this card? I last applied for credit in February 2018 (Home trust preffered visa. I only recieved the card awhile ago). Prior to that, I haven’t applied for credit since 2016.


The GreedyRates Team says:

Hi GreedyReader!

First of all, awesome username! We’re glad you like the site. If you’re interested in the Amex SimplyCash card, there’s no reason to wait for an application. You should apply for it as soon as you’re ready, and because Amex is one of the most organized worldwide credit card networks, you’ll be processed and receive the card in a matter of weeks. We know you experienced a long wait with Home Trust, but you probably couldn’t come up with a better example of “little vs big” or “inefficient vs efficient” than Home Trust and Amex. In other words, don’t expect your application to take months, or use Home Trust as a measuring stick for your expectations, because they’re abnormally slow (but getting better). Good luck!


Faizan Farooqi says:

I have a balance for my SimplyCash cash back. What can I do with it?

The GreedyRates Team says:

Hi Faizan,

Do you mean that you have an outstanding, unpaid balance on your Amex SimplyCash card? If you’re having difficulty paying off a balance and it’s accruing interest charges every month, you should transfer the debt to another credit card. Many great card options have the added benefit of reducing interest significantly for extended periods of time, much like the SimplyCash card itself.

If you’ve just now received the SimplyCash card and need to do a balance transfer to it from another bank, then this is possible by logging into your Amex membership account online. You can request a balance transfer here, or simply call Amex on the phone and talk to a representative about it. Amex has the best customer service in the world, bar none, and they’d be happy to walk you through the process in minutes, and at the rate you expect.

Finally, we also suspect you may be talking about a pool of cash back rewards that you’re looking to use. Amex Membership Rewards is the web portal to everything you want, including merchandise, tickets to the best events, travel, gift cards and more. If you’re logged in while browsing the catalogue, you’ll see your Rewards total at the top of the page and can freely order items as though you were shopping online. Enjoy!


mary says:

i am totally confused about this credit card. is it a card that you transfer other balances from other credit cards you have so that there is 0 percent interest for 12 months so that you can pay them off. or is it a credit card with a limit and you can user to pay off your other credit cards. I dont have high amounts on my two credit cards due to my credit score being 601. so both cards i have are 200 eacb. However i am about 6000 in debt according to my credit bureau . Now having a credit card you could use to pay that stuff off and 12 months no interest so that at the end you could rebuild your credit. Now that would be a help. People arent alwayd in debt due to credit cards. 75 percent of people todays bad credit isnt due to credit cards. make a card to help people like me out and your truly helping canadians

GreedyRates says:

Hi Mary, thanks for your question. Basically, you’ve described two sides of the same coin. A balance transfer can either be used as an interest-free loan, which you’ll use to pay off your debts by depositing it into other bank accounts, or as a credit card that lets you transfer debt to it from other sources. The former strategy is called a deposit transfer, while the latter is called a balance transfer, and theMBNA Platinum Plus allows you to do it either way. Either way you choose, the result is the same. Your various balances will all merge under one label and you’ll have 12 months to pay them off at whatever pace you like, without incurring interest during this period whatsoever. You’re right: it’s a huge help for Canadians with unmanageable debt, but it’s only for those who are willing to work hard at reducing or removing it within a year. Best of luck!

GreedyRates Staff

Danny says:

Hi (awesome greedy rates staff) ,is there relation between this card and Scotiabank Amex card ?
There is questions in application for “New simply cash ” -“are you an existing American express cardholder ” ?I am not sure how to answer since i have Scotiabank Gold Amex card.

GreedyRates says:

Hi Danny,

There is no relation between the two credit cards. You can answer no, since the Scotia Amex gold card, does not make you an American Express Card member.

This is a confusing one. American Express is both a credit card issuer (like RBC, CIBC, Capital One, etc…) and a payment network (like Visa and MasterCard). Scotia’s Amex Gold card uses the American Express network, but Scotia is the issuer / lender. Scotia is currently the only non-Amex issuer, to use American Express this way in Canada. In the United States it is more common.

Hope that helps,

GreedyRates Staff

Mib Garcia says:

How do u redeem the cash back amount?

GreedyRates says:

Hi Mib,

Good question. You cash back earned is applied as a statement credit to your account annually.

Hope that helps!

GreedyRates Staff

Inna says:

What is expiry day for SimplyCash offer? It would be better for me to apply in January-February, after I’ll use up the 4%-cash back period on Tangerine card 🙂

Another question: (I am curious about churning) if you get the second AMEX card ( or, generally, the second TD or any other credit card) do you get the same account for miles/points as the one for the first card or the different account so you would need to transfer the miles/points from one account to another? and it would probably be not for free? I guess they need to fight churning somehow?

GreedyRates says:

Hi Inna,

There is no published expiry date for the Amex SimplyCash offer. That said, it could be withdrawn at any time, although unlikely in the next 2 months. As such, looks like a good idea to use up the 4% cash back period on the Tangerine card, and the subsequently use the 5% cash back promo on the SimplyCash card.

One question number 2, if the rewards programs are the same, two Aeroplan cards or two Amex Rewards cards, the answer is typically yes – both credit card accounts will fund the same loyalty account. For example, if you get the TD Aeroplan Infinite and the TD Aeroplan Infinite Privilege cards, they will both fund the same Aeroplan loyalty account. As a result you will not need to transfer points from one card to another.

However, if the rewards programs are different, for example, Amex Gold Rewards versus Amex SimplyCash, then the rewards accounts will be separate.

Hope that helps,

GreedyRates Staff

Ravi says:

How to use cash back ??

GreedyRates says:

Hi Ravi,

There are many different forms of cash back rewards. In the case of the Amex Simply cash card, you accumulate cash back earnings on each dollar you spend. The cash back earnings are then applied as a statement credit at the end of the year.

Hope that helps,

GreedyRates Staff

Bakht says:

Does it keep offer additonal promotional balance transfer rates even after the 6 months promotion expires or is this just a one time thing?

GreedyRates says:

Hi Bakht,

Actually it’s only available at time of online application. American Express may offer you another balance transfer promotion once you have your account with them, but there’s no guarantee it will be available or available at the same terms. That said, you can always take a look at some of our other balance transfer cards if you were looking for additional opportunities.

GreedyRates Staff

Joan Snow says:

Can you tell me the rate for balance transfer

GreedyRates says:

Hi Joan,

The New SimplyCash card from American Express does not come with a standard balance transfer offer. American Express does make special offers on a targeted basis to select customers, typically at 0% for 6 months. You will only know if you’re eligible for the promo offer after you apply.
The best balance transfer credit card with an open offer to all cardholders we see on the market today is MBNA’s Platinum Plus card, which offers 0% for 12 months, with a 1% balance transfer fee.

Hope that helps.

Ken Anderson says:


How do i receive my cash back from the new simply cash card. Thanks Ken

Vox says:

I can’t seem to find any information on how I actually get my cash back, back now that I have accumulated some. Does anyone know?

GreedyRates says:

Hi Vox,

You’ll get a statement credit applied to your account each September of every year.


Jeremy Johnson says:

Would you know whether there’s a “cheque” option for the cash back, instead of a statement credit? That’s what the Costco Amex card did, and what I’d prefer as a customer.

GreedyRates says:

Hi Jeremy,

Unfortunately the Amex Simply Cash card only offers cash back redemptions as a statement credit. If you want a cash back card that gives you the choice of redeeming for cash back with a check, a deposit into your checking account or a statement credit, take a look at the no fee MBNA Smart Cash card or the Cash Back page.

Hope that helps.

GreedyRates Staff

rizal talicuran says:

I need 2000 limit only.