American Express New Cash Back Credit Card after Costco Canada Stops Using AMEX

Recently, Costco Canada ended up 15-years relationship with American Express. One of my favorite credit cards, TrueEarnings AMEX Costco, is going to the garbage bin.

I like this TrueEarnings card is because it gives good cash back when I used it to fill the gas besides using it in Costco warehouse. The cash back rate is 2% for gas, which is the best one among my other credit cards. Using it with other royalty cards, like Air Miles, Aeroplan, you will get a significant return. My return is about 5% if using them right. Beyond that, 3% cash back rate for the restaurants, including those well known restaurants, such as McDonald's, Harvey’s, Jack Astor’s, etc.

Now American Express is replacing TrueEarings card with its new cash back card, called SimplyCash card. It is not bad, but you will lose 2% cash back for gas and 3% cash back for dinning. Instead, you get 1.25% for everything. Most other credit cards only give 1% for the purchases other than gas and grocery.

The most exciting news about this SimplyCash card is the Welcome cash back rate for the first 6 months. It is a huge one, 5%, on gas, grocery and restaurants in Canada. Make sure to refer to its merchant list for the best cash back.

I think I will keep this SimplyCash card in my wallet, but not for daily uses after the first 6 months. How about you?