Welcome!

News Feed Item

Two New Credit Cards from American Express Put More Cash in Canadians' Wallets

MARKHAM, ON, Sept. 2, 2014 /CNW/ - Today American Express Canada launches a major push into the cash back sector of the credit card market with the introduction of the SimplyCash and SimplyCash Preferred cards. These two products offer very rich welcome rates of up to 5% cash back on eligible purchases for the first 6 months and after that, great rates of 1.25% on the no annual fee SimplyCash Card and 1.5% on the Preferred Card.   (Full product details included in the chart below)

American Express consumer research points to a strong interest in the cash back style of cards which is becoming an area of focus for the card company. The research shows 79 per cent of credit card holders find the idea of cash-back products appealing.*

"The Canadian market has long been dominated by cards that predominantly offer travel related rewards, and we offer a range of those. But our research shows that a large number of people would value a straightforward and effective cash back card product and we have responded to that in a big way," says Leonard Varaksa, Director, Consumer Card Marketing, American Express Canada.

A recent survey conducted by American Express found that when it comes to credit cards, consumers with cash-back credit cards are looking for cards that are simple and easy to use (90%), earn cash back everywhere they spend (87%) and that they still offer additional card benefits like insurances (79%). The new cash back Cards have been designed with precisely those principles in mind.

"We heard loud and clear that our job is to deliver a simple and efficient cash back Card and we believe that the products we are introducing today represent the best value and the best service in the market," says Varaksa.

Consumers enjoy finding deals and discounts in their everyday shopping, but many struggle to find the time or enough cost savings to make it worthwhile. In fact, only 26 per cent of Canadians consider themselves savvy shoppers. Those who don't shop around for the best deals say they lack the discipline (37%) and the time (29%) to hunt out bargains. That's what makes the simplicity of cash back cards so appealing.

"Using these SimplyCash Cards is like getting a discount on every purchase," says Varaksa.

The new Cards offer an array of benefits, including:

The SimplyCash Card
  • Welcome rate of 5% cash back on all eligible purchases in Canada at gas stations, grocery stores and restaurants in the first 6 months (up to $250 cash back)
  • 1.25% cash back on all other purchases and when the welcome rate ends
  • No annual fee
  • Insurance coverage, including Buyers Assurance, Purchase Protection, Travel Accident, Car Rental & Theft Damage Insurance
  • Front of the Line access to the hottest entertainment
  • 24/7 Customer Service
The SimplyCash Preferred Card
  • Welcome rate of 5% cash back on all purchases in the first 6 months (up to $400 cash back)
  • 1.50% cash back on purchases up to $100k when the welcome rate ends (1.25%  cash back over 100K)
  • $79 annual fee
  • Insurance coverage, including Travel Accident, Buyers Assurance, Purchase Protection, Car Rental & Theft Damage Insurance , Emergency Medical, Hotel/Motel Burglary Insurance, Lost or Stolen Baggage, Flight Delay, Baggage Delay Insurance
  • Front of the Line access to the hottest entertainment
  • 24/7 Customer Service

The launch of the SimplyCash Cards marks a highly aggressive step into the cash back space and will be supported with a robust advertising and marketing and campaign across TV, radio, and digital and social media.

Amex believes this will open up a new line of business in the same way that its entry into the Small Business card market did four years ago. Cash back has become a key growth area in other markets like the US and the UK, and the company feels that it represents a similar opportunity in Canada.

To learn more about the SimplyCash Card and SimplyCash Preferred Card from American Express, visit www.amex.ca/simplycash.

About American Express Canada
American Express in Canada operates as Amex Bank of Canada and Amex Canada Inc. Both are wholly owned subsidiaries of the New York based American Express Travel Related Services Company, Inc., the largest operating unit of the American Express Company. Amex Bank of Canada is the issuer of American Express charge and credit cards, with outstanding products like the American Express® Gold Rewards Card, the American Express® Platinum Card, and the American Express® AeroplanPlus® Gold Card. Amex Canada Inc. Travellers Cheques divisions in Canada. American Express opened its first offices in Toronto and Hamilton in 1853 and now employs 3,700 Canadians coast-to-coast. For more information, visit AmericanExpress.ca or connect with us at Facebook.com/AmericanExpressCanada and YouTube.com/AmericanExpressCAD.

Survey Methodology
* From October 2nd to October 3rd 2013 an online survey was conducted among 1,343 randomly selected Canadian adults who are Angus Reid Forum panelists and who have at least one Credit Card. The margin of error—which measures sampling variability—is +/- 2.7%, 19 times out of 20. The results have been statistically weighted according to education, age, gender and region (and in Quebec language) Census data to ensure a sample representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.

From August 13th to August 14th, 2014 an online survey was conducted among 1,502 randomly selected Canadian adults who are Angus Reid Forum panelists. The margin of error—which measures sampling variability—is +/- 2.5%, 19 times out of 20. The results have been statistically weighted according to education, age, gender and region (and in Quebec, language) Census data to ensure a sample representative of the entire adult population of Canada. Discrepancies in or between totals are due to rounding.

 

SOURCE American Express

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
Amazon is pursuing new markets and disrupting industries at an incredible pace. Almost every industry seems to be in its crosshairs. Companies and industries that once thought they were safe are now worried about being “Amazoned.”. The new watch word should be “Be afraid. Be very afraid.” In his session 21st Cloud Expo, Chris Kocher, a co-founder of Grey Heron, will address questions such as: What new areas is Amazon disrupting? How are they doing this? Where are they likely to go? What are th...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...