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
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captu...
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and...
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining senso...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...