5. You’ll get entry to American Categorical Experiences
As you would possibly count on with a no price card, SimplyCash from American Categorical doesn’t have essentially the most spectacular suite of advantages. However it does supply one thing you gained’t get with different no price playing cards from Visa or Mastercard: American Categorical Experiences. It is a severe leisure perk that offers you entry to presale tickets to main occasions, exhibits and live shows, in addition to early bookings to a number of the nation’s hottest eating places and even specifically curated non-public purchasing experiences.
5. It comes with insurance coverage
The SimplyCash provides as much as $100,000 in journey accident insurance coverage whenever you cost your aircraft, prepare, ship or bus tickets to your card. You’ll additionally get buy safety and automated prolonged warranties for as much as one yr (which is the norm for many bank cards).
6. It’s an excellent choice to make use of as a part of a two-card technique
Since SimplyCash from American Categorical has no annual price and an above-average earn price of 1.25% on the whole lot you purchase, it’s ideally suited to make use of together with one other card as a solution to earn extra rewards. As an illustration, you would carry the TD Money Again Visa Infinite for groceries, fuel and recurring payments, as it’ll earn you a considerable 3% on these purchases, and use the SimplyCash to earn 1.25% on the whole lot else because the TD Card by default earns only one% on the whole lot exterior of its bonus three classes.
7. The SimplyCash is a bank card, not a cost card
It’s generally thought that each one American Categorical playing cards are cost playing cards, which means it have to be paid off each month it doesn’t matter what. However that’s not really the case; SimplyCash from Amex is a traditional bank card, identical to any Visa or Mastercard. When you apply, you’ll be accepted for a set credit score restrict, and so long as you repay your steadiness in full each month, you gained’t owe any curiosity. The cardboard does will let you carry a steadiness from month to month, however an rate of interest of 19.99% will kick in should you do this. Once more, that is rather like some other bank card.
8. Extra locations at the moment are accepting Amex
Whereas it’s true that American Categorical isn’t as extensively accepted as Visa and Mastercard, the distinction shouldn’t be as vital as you would possibly assume—relying in your purchasing habits. It’s accepted at greater than 90,000 places throughout Canada, together with most main shops and restaurant chains, many outstanding grocery shops and nearly all online-delivery and ride-share apps. That mentioned, it’s true Amex isn’t accepted at a number of locations, equivalent to Loblaws, low cost grocers and lots of smaller native shops, eating places and cafes. A standard technique amongst Amex cardholders is to hold a debit card or a second bank card from Visa or Mastercard in case a retailer doesn’t settle for Amex. You may at all times try American Categorical Maps to see if a enterprise accepts Amex, too.
9. It’s among the finest no-fee playing cards in the marketplace
Contemplating all the above, the SimplyCash card from Amex is arguably the very best no-fee, flat-rate cash-back card in the marketplace. The one different card that comes shut is the Rogers World Elite Mastercard, which does have a barely greater earn price of 1.5% money again on all purchases; nonetheless, Rogers cardholders should have an annual revenue of a minimum of $80,000 and spend a minimal of $15,000 on the cardboard yearly simply to qualify. SimplyCash has no such necessities, making it extra accessible.
How a lot are you able to earn with the SimplyCash from Amex?
Clearly, that depends upon your spending habits. For instance, should you had been to spend $1,500 monthly—everyone knows that’s not arduous to do—you’d rack up $225 money again yearly, which is fairly spectacular for a no price card. And calculating how a lot you’ll get is simple because the earn price is a straight 1.25% money again on the whole lot.
use Amex SimplyCash
As famous earlier, one of many smartest methods to make use of the SimplyCash card is together with one other card. Let’s say you employ a CIBC Dividend Visa Infinite card* particularly for fuel and grocery purchases, because it earns 4% money again in these classes. For eating, transit and recurring payments, you stick to the CIBC card because it earns 2%. For all different purchases, you employ the Amex SimplyCash card, which earns you 1.25%, versus 1% with CIBC’s card.