American Express has newly updated welcome bonus offers on their excellent portfolio of SimplyCash® cash back cards. The SimplyCash Preferred Card from American Express now offers up to a $250 cash back welcome bonus with an easier spend requirement and the SimplyCash® Card from American Express retains a $100 bonus but also comes with a new easier spend requirement.
SimplyCash® Preferred Card from American Express – Earn up to $250
The new welcome bonus on the best cash back card in Canada is now awarded as follows:
Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
Compared to the previous welcome offer this an easier to earn bonus as it doesn’t require a set amount of spend to be reached in each and every month for 10 months. Now you simply (pardon the pun) need to spend $2,000 in the first three months to receive the majority of the bonus – and if you don’t spend that much at least you’ll earn the 10% on what you do spend. With the old offer you would not have received any bonus in any month you didn’t hit the minimum spend. You do have to make sure you make one purchase in month 13 to competed the entire bonus.
The downside to this new bonus however is that it ends up being $150 less than the previous offer – that’s a pretty significant drop in the offering.
This makes the card move inline with most other cash back cards which offer very similar 10% cash back on spending of $2,000 to $2,500 etc. The difference with Amex however, is this 10% bonus and statement credit is over and above the card’s everyday earn rates – unlike the competitors whose 10% is inclusive of the everyday earn rates. For example, if you shop for groceries with the SimplyCash Preferred Card during your first three months you’ll earn the 4% earn rate plus the 10% bonus for a total 14% whereas with other cards it would simply be the 10%.
SimplyCash Preferred Card details:
Monthly Fee: $9.99 ($119.88 annually) | Additional Card Fee: $0 | Annual interest rate 21.99% on purchases and 21.99% on funds advances; Missed payment applicable rates, 25.99% – 28.99%
- Earn accelerated earn rates on eligible gas and grocery purchases
- Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases
- Access events and special offers curated for Cardmembers with American Express® Experiences
- Extensive insurance coverage and 24/7 Customer Service
- 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. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment
Click here to learn more and to apply for the SimplyCash® Preferred Card from American Express
SimplyCash® Card from American Express – Earn up to $100
The new welcome bonus on the second best no annual fee cash back card in Canada is now awarded as follows:
In your first 3 months as a new SimplyCash® Card from American Express Cardmember, you can earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s on top of your everyday cash back earn rates. That’s up to $100 in bonus cash back..
Like the Preferred version, this previous welcome offer this an easier to earn bonus than the previous offer as it doesn’t require a set amount of spend to be reached in each and every month for 10 months. Now you earn 5% on $1,000 of spending in the first three months to receive the entire bonus – and if you don’t spend that much at least you’ll earn the 5% on what you do spend. With the old offer you would not have received any bonus in any month you didn’t hit the minimum spend.
Also like the Preferred version, this 5% bonus is over and above the card’s everyday earn rates – unlike the competitors whose welcome bonus boosted cash back is inclusive of the everyday earn rates. For example, if you shop for groceries with the SimplyCash Card during your first three months you’ll earn the 2% earn rate plus the 5% bonus for a total of 7% whereas with other cards it would simply be 5% (or whatever they are offering)
SimplyCash Card details:
Annual Fee: $0 | Additional Card Fee: $0 | Annual interest rate 21.99% on purchases and 21.99% on funds advances; Missed payment applicable rates, 25.99% – 28.99%
- Earn accelerated earn rates on eligible gas and grocery purchases
- Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases
- Access events and special offers curated for Cardmembers with American Express® Experiences
- Insurance coverage and 24/7 Customer Service
- 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. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment
Click here to learn more and to apply for the SimplyCash® Card from American Express
Wrapping it up
American Express has brought out new welcome bonuses on their SimplyCash cash back credit card offerings. The SimplyCash Preferred Card from American Express now provides a bonus of up to a $250 cash back which is $150 lower than before however it is easier to achieve and the SimplyCash® Card from American Express retains a $100 bonus which is also easier to achieve now.