What is the difference between the SimplyCash Card and the SimplyCash Preferred Card from American Express?

The two cards target different cash back priorities. The SimplyCash Card from American Express has no annual fee and earns 2% on groceries and gas plus 1.25% on everything else, with a welcome bonus of up to $100. The SimplyCash Preferred Card from American Express charges an annual fee of $99.99 but earns 4% on groceries and gas and 2% on every other purchase — making it the only Canadian card with a flat 2% rate on all spending. The Preferred is the better fit for households spending more than $20,000 a year on the card.

How do I qualify for the full $250 welcome bonus on the SimplyCash Preferred?

The advertised $250 welcome bonus is split into two parts. You earn 10% cash back on the first $2,000 in eligible purchases during the first three months (worth up to $200), then receive an automatic $50 statement credit at month 13 if your account is still in good standing. To capture the full amount, plan to put at least $2,000 of household spending on the card within 90 days of approval — for most families, that means routing groceries, gas and recurring bills to it from day one. The bonus is reserved for new SimplyCash Preferred cardholders only.

Are the SimplyCash cards accepted at Costco in Canada?

No. Costco Canada only accepts Mastercard at the till, so neither the SimplyCash Card nor the SimplyCash Preferred can be used at Costco warehouses or gas bars. If most of your grocery and gas spend goes through Costco, a Mastercard like the CIBC Costco Mastercard or the Tangerine Money-Back World Mastercard will be a better main card. American Express cards including SimplyCash work fine at Costco.ca for online orders, however, where Amex is accepted.

Is there a minimum income to apply for the SimplyCash Preferred Card from American Express?

No, American Express does not publish a minimum personal or household income requirement for the SimplyCash Preferred. Approval is based on your overall credit profile — credit score, existing debt and payment history — rather than a hard income floor. That said, you should still expect a fair to good credit score (around 700+) and stable income to get approved given the card's $99.99 annual fee. Self-employed earners and households below the $80,000 mark that are usually shut out of World Elite cards often use the Preferred as their main 2% cash back card.

Jean-Maximilien Voisine

Jean-Maximilien Voisine is the President and Founder of Milesopedia and a leading expert in rewards programs, credit cards, and travel across Canada, France, and the U.S.A. Now 40 years old and a father of two, he has explored more than 100 countries—many of them alongside his wife Audrey and their children. Specializing in loyalty programs such as Aeroplan, Flying Blue, American Express Membership Rewards, and Marriott Bonvoy, Jean-Maximilien helps travellers unlock the full potential of their points and benefits. His mission: empower others to travel better and smarter across North America and Europe.

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