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Mr. Loonie

Card comparison

Amex SimplyCash vs Amex SimplyCash Preferred

SimplyCash Preferred pays more at light, typical and big spending, even after its fee.

Preferred pays 4% back on groceries and gas and 2% on everything else, for $9.99 a month. The free SimplyCash pays 2% on groceries and gas and 1.25% on everything else, and caps grocery cash back at $300 a year.

Facts checked Nov 9, 2026 Sources By Mr. Loonie editors

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400

American Express

SimplyCash® Card from American Express

Remove Amex SimplyCash

American Express

SimplyCash® Preferred Card from American Express

Remove Amex SimplyCash Preferred
What it’s worth to you
Better: $425
Year one
Better: Every year after $425

Cash back, counted at face value. Why we value Amex SimplyCash this way

Better: $852
Year one
Better: Every year after $852

Cash back, counted at face value. Why we value Amex SimplyCash Preferred this way

Apply now with American Express (opens in a new tab)
Apply now with American Express (opens in a new tab)
We may earn a fee when you apply through these links. It never changes the numbers.

Lower is better here.

Annual fee
Better: $0
$119.88
Extra card For a partner or family member
$0
$0
Foreign currency fee On purchases in another currency
2.5%
2.5%
Interest on purchases
21.99%
21.99%
Interest on cash advances
21.99%
21.99%
Cash advance fee
$2.75
$2.75
Balance transfer fee
3%, Maximum
3%, Maximum
Late payment fee
$0
$0
Source
americanexpress.comChecked Nov 8, 2026
americanexpress.comChecked Nov 8, 2026

Typical spending, $2,500 a month. Bigger is better.

Groceries $9,600 a year
Better: $192 2% back
Better: $384 4% back
Restaurants $3,000 a year
Better: $38 1.25% back (base rate)
Better: $60 2% back (base rate)
Gas $3,000 a year
Better: $60 2% back
Better: $120 4% back
Recurring bills $3,000 a year
Better: $38 1.25% back (base rate)
Better: $60 2% back (base rate)
Travel $1,800 a year
Better: $23 1.25% back (base rate)
Better: $36 2% back (base rate)
Everything else (base rate) $7,800 a year
Better: $98 1.25% back
Better: $156 2% back
Foreign currency $1,800 a year
Better: $23 1.25% back (base rate)
Better: $36 2% back (base rate)
Total earned Before fees and the welcome offer
Better: $470
Better: $852
Foreign currency fee On the budget’s foreign spending. * Fee not listed, counted at the usual rate
Better: $45
Better: $45
Perks you’d use Lounge visits and cover, at what they cost on their own
Better: $0
Better: $165
Limits
None listed
Groceries: Up to $30,000 in spending per year
Source
americanexpress.comChecked Nov 8, 2026
americanexpress.comChecked Nov 8, 2026

Extended warranty
Included
Included
Purchase protection
Included
Included
Travel accident
Included
Included
Car rental damage
Not listed
Included
Mobile device
Not listed
Up to $1,000
Mobile wallets
Apple Pay, Google Pay
Apple Pay, Google Pay

Personal income Minimum the bank lists
$15,000 a year
$15,000 a year
Network
American Express
American Express
Expert Score From critic reviews, shown, not ranked
Expert Score 8.2 out of 10. Very good
Expert Score 8.2 out of 10. Very good

Who should get each

Our editors’ take, based on the numbers above.

Get Amex SimplyCash if

  • Good: You want cash back with no annual fee
  • Good: Your monthly spending is light
  • Good: You want a simple card to keep for years

Get Amex SimplyCash Preferred if

  • Good: You spend a lot on groceries and gas
  • Good: You want 2% back on everything else
  • Good: You’re fine paying a monthly fee for higher rates

Mr. Loonie’s tip Look at every year after before year one. A big welcome offer pays once; the earn rates pay every month you keep the card.

Questions

Is the cash back paid as a statement credit?

Yes. Both cards pay cash back as a credit on your statement once a year.

Which one charges a foreign currency fee?

Both charge 2.5% on purchases in another currency.

How do you work out year one?

We add what each card earns at your spending, plus the part of the welcome offer you’d get, then take off the first year’s annual fee. Every year after leaves out the offer and uses the regular fee.

Can I compare more than two cards?

Yes, up to four. Tap Add a card above the table, or + Compare on any card page.

Do banks pay to appear here?

No. You pick the cards and the math decides the numbers. We may earn a fee when you apply through some links. That never changes a number.

Year one adds what each card earns at the spending you picked, plus the part of the welcome offer that spending reaches, then takes off the first year’s fee. Every year after leaves out the offer and uses the regular fee. Points are counted at the value shown under each card.

Sources, checked by us:

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. Values are estimates for the spending you picked, rounded to the nearest dollar.

Spot something wrong? We’ll check it with the bank. Suggest a correction

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