American Express · American Express · Cash back
Reviewed 2026-07-05 · By The Points Standard editorial team
Amex SimplyCash Preferred
The strongest cash-back rates in Canada where Amex is accepted. The acceptance caveat is the whole debate.
Standard Score breakdown — Excellent
Six weighted components, each rated 0–10. "Contributes" is the rating × weight — add all six and you get the 7.65/10 Standard Score above.
See how the Standard Score works or re-weight it to your priorities.
The numbers
| Annual fee | $119.88 |
| Welcome bonus | Up to $400 in bonus cash back in the first year (offers vary) |
| Est. bonus value | ≈ $400 |
| First-year net value | ≈ $680 |
Earn rates
| Gas and groceries | 4% |
| Everything else | 2% |
Why it earns its score
- 2% flat on everything with 4% on gas and groceries — top-tier cash rates
- Cash back is applied automatically; zero redemption homework
- Includes travel medical and mobile device insurance
Where it loses points
- Amex acceptance gaps hit hardest on a cash-back card meant for everyday spend
- Monthly fee slightly clouds the effective rate math
Who it's for
People who want the highest guaranteed cash return and don't want to think about points at all.
Who should skip it
Your regular stores don't take Amex — a 4% rate you can't use is a 0% rate.
Included insurance
Travel medical (15 days) · Flight delay · Baggage · Rental car coverage · Mobile device insurance
Source: issuer card page · Last reviewed 2026-07-05. Details change often — confirm current terms with the issuer before applying.