Rewards Canada names Amex card with heavy insurance benefits top cash back credit card
Picking a credit card is no small task. Even though the state of your finances will ultimately depend on your own monetary prudence, the perks of using a certain credit card can go a long way towards positively affecting that situation.
There are lots of factors that can contribute to the helpflness of a credit card. And when Rewards Canada named American Express Canada’s SimplyCash Preferred Credit Card as its top cash back credit card of 2017, one of those crucial factors was the insurance benefits it offered.
It isn’t always apparent to young people—and sometimes credit card users in general—that insurance can even be a benefit that cards can provide. Yet that is very much the case.
Amex’s SimplyCash Preferred card comes with a versatile group of insurance coverages. Those include car rental theft and damage insurance, $100,000 travel accident insurance, emergency medical insurance, lost or stolen baggage insurance, flight delay insurance, and hotel/motel burglary insurance. With such a strong focus on travel insurance benefits, the card not only saves the user money, but lessens the hassle of preparation that he or she already faces before a trip.
In addition to the insurance benefits offered, Amex’s Simply Cash Preferred card stood out for its two per cent cash back earning rate, a five per cent introductory cash back rate for the first six months, and reasonable annual fee of $99.
Next up on Rewards Canada’s ranking list were mbna rewards World Elite MasterCard, Scotia Momentum VISA Infinite card, BMO CashBack World Elite, and Scotiabank Gold American Express Card.