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American Express SimplyCash Preferred Card Increased Cash Back

I am excited to find out that the American Express SimplyCash Preferred Card has made a significant change to its cash back earning ratio.

Below are the current highlights of the credit card:

  • $99 annual fee
  • No annual fee for a supplementary cardholder
  • Earn $200 cash back for every approved referral (up to 15 referrals or $3,000 per calendar year)
  • Earn 5% Welcome bonus cash back on all purchases for the first 6 months (up to $6,000 in purchases or $300 cash back)
  • Earn 2% cash back on all other purchases and when the Welcome 5% ends

Annual Fee

When this card first came out, it only had a $79 annual fee. It has since been increased to $99 instead.

Welcome Bonus

Previously, the 5% Welcome bonus was for up to $400 cash back (or $8,000 in spending). This has been decreased to $300 cash back. This devaluation has been offset by increasing the earning ratios below.

Earning Ratio

Previously, the earning ratios looked like this:

  • Earn 1.5% cash back after your first 6 months (on the first $100,000 annual purchases)
  • Earn 1.25% cash back thereafter (on purchases above $100,000 in annual purchases)

Now you just get 2% cash back on all purchases after the Welcome bonus ends, which is actually a much better deal.


I would have preferred to see a lower annual fee, but I am at least glad that they increased the earning ratio to better justify the annual fee.

If you prefer, you can always go for the no annual fee version: American Express SimplyCash Card.

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Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

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