Part 1: SimplyCash® Preferred Card Cash Back Value per Canadian Dollar
- All Purchases: 1 Cash Back Dollar = $ 1 CAD when applied as a statement credit or used for other purchases.
Part 2: SimplyCash® Preferred Card Cash Back Value per 100 Canadian Dollars
- All Purchases: 100 Cash Back Dollars = $ 100 CAD
Part 3: Summary for Best Value
To get the best value from the SimplyCash® Preferred Card from American Express:
- Redeem for Statement Credits: Cash back is automatically applied as a statement credit annually, offering direct dollar-for-dollar value.
- Maximize Bonus Category Spending: Focus spending on gas, groceries, and other purchases to earn higher cash back rates, thus increasing your overall earnings.
- Refer Friends: Earn additional cash back for each successful referral.
- Insurance Benefits: Leverage the card's insurance benefits to save on additional costs, effectively increasing the value you get from the card beyond just cash back.
- Evaluate Against Annual Fee: Ensure your cash back earnings exceed the annual fee to truly benefit from holding this card.
Part 4: SimplyCash® Preferred Card Cash Back Earned per $ 1000 Spending by Category
- Gas and Grocery Purchases in Canada: 40 Cash Back Dollars per $ 1,000 spent (up to $ 1,200 cash back annually).
- All Other Purchases: 20 Cash Back Dollars per $ 1,000 spent (2% cash back with no limit on how much you can earn).
NOTE : The value conversions may not be up to date. Please calculate your own conversion to Canadian dollars to ensure accuracy.