American Express Canada refreshes SimplyCash® and SimplyCash® Preferred Cards with enhanced cash back earn rates for Cardmembers

SimplyCash® and SimplyCash® Preferred Cardmembers can now earn even more cash back on day-to-day essentials, making eligible gas and grocery purchases more rewarding

TORONTO, Oct. 12, 2022 /CNW/ - American Express Canada is proud to offer newly designed and enhanced SimplyCash® Cards to support their Cardmembers' everyday spending, including improved earn rates on eligible gas and grocery purchases. Plus, Cardmembers can continue to enjoy cashback on all other eligible purchases.

Effective today, SimplyCash® and SimplyCash® Preferred Cards offer cash back rates that can provide Cardmembers with an annual reward for eligible grocery purchases of up to $300 and $1,200 cash back, respectively.

"Consumers are seeking more ways to support their household budgets and American Express Canada is committed to ensuring our Cardmembers get the most out of their day-to-day purchases by offering more cash back to Canadian families," said Joe Ryan, VP, Proprietary Products and Rewards. "The sleek new design of both Cards comes with accelerated cash back rates on gas and grocery spend. Cardmembers can get the essentials they need and enjoy the experiences they crave with these accelerated earn rates."

The newly designed and refreshed SimplyCash® Preferred Card, will offer:

• Accelerated Cash Back Rates: Cardmembers can earn 4 per cent cash back, twice as much as the previous earn rate, on eligible gas and grocery purchases in Canada, up to $1,200 cash back on grocery spend annually. Cardmembers can also receive a competitive base earn rate of 2 per cent on all other eligible purchases.
• A New Card Look: Cardmembers will receive the newly designed SimplyCash® Preferred Card at the time of their next Card replacement after October 12, 2022. Until Cardmembers receive their new Card, they can continue to use their current Card and benefit from these new cashback accelerators.
• New Mobile Device Insurance: Simply Cash Preferred Cardmembers can now access $1000 of Mobile Device Insurance when they fully charge or finance the purchase price of an eligible mobile device to their Card. This is in addition to the other insurance coverages that already come with the Card.
• A monthly Card Fee: the annual fee for the Basic Simply Cash Preferred Card is changing to a monthly fee of $9.99 (equals a total fee of $119.88 annually). For accounts opened before October 12, 2022, the new monthly fee will be charged to the Cardmember's account on the first statement after their next Cardmembership anniversary following October 12, 2022, and once a month thereafter (regardless of Card activation). For accounts opened on or after October 12, 2022, the monthly fee will be charged to the Cardmember's account on the first statement after Card is issued and once a month thereafter (regardless of card activation).
• Cardmembers will continue to have access to existing benefits like American Express Experiences, Amex Offers and more.

The newly designed and refreshed, no annual fee SimplyCash® Card will offer:

• Accelerated Cash Back Rates: Cardmembers can now earn 2 per cent cash back, up from the previous 1.25 per cent, on eligible gas and grocery purchases in Canada, up to $300 cash back on grocery spend annually. Cardmembers can also receive a competitive base earn rate of 1.25 per cent on all other eligible purchases
• A New Card Look: Cardmembers will receive the newly designed SimplyCash® Card at the time of their next Card replacement after October 12, 2022. Until Cardmembers receive their new Card, they can continue to use their current Card and receive the same new benefits.
• Cardmembers will continue to have access to existing benefits like American Express Experiences, Amex Offers and more.

For more information about the American Express SimplyCash® Preferred and SimplyCash® Cards and full terms, visit americanexpress.com/ca/en/credit-cards/simply-cash-preferred/ and americanexpress.com/ca/en/credit-cards/simply-cash/ to learn more.

ABOUT AMERICAN EXPRESS IN CANADA

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. American Express was established in Canada in 1853 and offers a variety of consumer and business products. Learn more at americanexpress.ca and connect with us on Facebook, Twitter, YouTube and Instagram.

SOURCE American Express Canada

Maddie Geddes, [email protected], M: 647-389-9073