SimplyCash Card

American Express

The SimplyCash Card from American Express delivers straightforward cash back rewards with no annual fee, offering 2% back on gas and groceries in Canada plus 1.25% on everything else, making it one of the most competitive no-fee cash back cards available. With a welcome bonus providing 5% cash back on all purchases in the first three months (up to $100 bonus), referral bonuses worth up to $375 annually, and the ability to add up to nine free supplementary cards, this card maximizes earning potential for Canadian households without any ongoing costs.

While American Express acceptance limitations require carrying a backup payment method, the SimplyCash Card from American Express justifies this minor inconvenience through its superior earning rates and practical benefits. The inclusion of purchase protection, extended warranties, and $100,000 in travel accident insurance adds unexpected value to a no-fee card, while the automatic annual cash back credit every September provides a satisfying lump sum reward that many cardholders prefer over monthly statement credits.

Our Verdict

The SimplyCash Card from American Express earns solid marks for delivering one of the best no-annual-fee cash back structures in Canada, with its 2% return on gas and groceries beating most competitors in this category. The welcome offer's 5% cash back rate for three months provides immediate value without requiring minimum spending thresholds, while the generous referral program and free supplementary cards create opportunities for additional earnings that many overlook. The surprise inclusion of insurance benefits typically reserved for fee-based cards adds genuine value beyond the cash back program. Where the card falls short is the persistent American Express acceptance issue, which can be frustrating when your preferred cash back card gets declined at various retailers. The $300 annual cap on 2% grocery cash back limits value for high spenders, effectively reducing the rate to 1.25% after reaching $15,000 in grocery spending. Additionally, the lack of mobile wallet compatibility at many Canadian retailers and the high penalty APR for late payments require careful consideration. Despite these limitations, for disciplined cardholders who pay their balance in full and shop where American Express is accepted, the SimplyCash Card from American Express provides exceptional value in the no-fee cash back category.

Our Score

7.6 / 10

Pros