The no fee SimplyCash Card from American Express will see increased earn rates of 2% cash back on gas and groceries + MORE Aug 8th

Most everyone knows about the straightforward fees, but it’s the lesser known ones like the foreign transaction fee that catch you off guard.

One of Canada’s top 5 cash back credit cards is going to see a fee increase this fall. News came out over the past few days that the SimplyCash™ Preferred Card from American Express will move from an annual fee to a monthly fee like the American Express Cobalt® Card as of October 12. This move to a monthly fee also marks an increase in the overall cost of the card over a 12 month period but they are adding in increased category earn rates with this change! The new feeAs of October 12, 2022 the Simply Cash Preferred Card will move to a $9.99 monthly fee. This works out to $119.88 over the course of a year. Compare this to the current fee of $99 and you can see it is over a 20% increase. This does move the card inline with many of the cards it competes with but it is unfortunate to see nonetheless.The new earn ratesAlong with the fee increase comes some good news and that is increased earn rates on two categories of spending. Here are the earn rates as of October 12:4% cash back on eligible gas station purchases in Canada4% cash back on eligible grocery store purchases in Canada, up to a maximum of $30,000 in purchases posted to your account in this category (equal to $1,200 cash back) annually, and;2% cash back on all other purchasesAs you can see not only does the card retain its 2% cash back on all purchases it will now offer 4% back on gas and grocery purchases…

Here’s your Rewards Canada update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Flair Airlines will be switching their Los Angeles area flights from Hollywood Burbank to Los Angeles International Airport (LAX The airline’s flights from Vanouver and Edmonton will switch on October 31. The airline will also be adding a new 2 times per week flight between Toronto and Cancun for the upcoming winter season. (Source Flair Airlines) — Congratulations to Irene L. of Ottawa and Rajiv C. of Mississauga who were the winners in our DragonPass annual membership + four free visits contest!— Continuing on with route news, Air France is bringing back their Canada to Caribbean connection with the return of their Montreal to Pointe-à-Pitre flights for the winter season. AF624: leaves Pointe-à-Pitre (PTP) on Tuesdays and Saturdays at 16:20, arrives at Montréal Pierre-Elliott-Trudeau (YUL) at 20:50AF625: leaves Montréal Pierre-Elliott-Trudeau (YUL) on Wednesdays and Sundays at 10:00, arrives at Pointe-à-Pitre (PTP) at 15:50You can book these flights direct with Air France and also redeem Flying Blue miles for them as well…

Not only is the  SimplyCash™ Preferred Card from American Express seeing changes but its no annual fee sibling the SimplyCash™ Card from American Express is also being changed for the better The card retains its base earn rate with no annual fee but will now see accelerated earn rates for gas and groceries as well. The new earn ratesAlong with the fee increase comes some good news and that is increased earn rates on two categories of spending. Here are the earn rates as of October 12:2% cash back on eligible gas station purchases in Canada2% cash back on eligible grocery store purchases in Canada, up to a maximum of 15,000 in purchases posted to your account in this category (equal to $300 cash back) annually, and;1.25% cash back on all other purchasesAs you can see the card retains its 1.25% cash back on all purchases but as of October 12 it will offer 2% back on gas and grocery purchases. This is great news for those who have this card or are considering it as you can earn a lot of cash back compared to the competition…