 Hello everyone, this is financial author Amit Dan of amitdan.com. On this channel you'll find financial travel and more videos just like the one you are watching right now. If you like what you see, please give it a thumbs up and consider subscribing. Today I'll talk about some recent changes made to the American Express Simply Cash Preferred Credit Card. But before I start, I'd like to mention that American Express has another cashback credit card which doesn't have any annual fee and it's called American Express Simply Cash Credit Card. So this credit card earns 1.2.5% on everything and you don't pay any annual fee. However, the higher version of this is the American Express Simply Cash Preferred Credit Card and the annual fee on this card used to be $79 per year but now American Express is changing that to $99 per year. So according to American Express, there will be some new parks and features on this credit card. The earned rate is 2% on everything. However, there's a promotion running which will let you earn $300 cashback at 5%. So the $300 is capped, you'll be able to earn $300 at 5% and that's the maximum. After that, it changes to regular 2%. So what it means that you'll have to spend $6,000 and that will in first three months and that will generate 5% which is going to be $300 maximum. What it means that every month if you spend $2,000 on this card then in the three months it will be $6,000 times 5% is $300 and after that it converts back to regular 2%. Now the annual fee is increasing to $99 per year, it used to be $79 per year. But as per American Express, if you already have this card or if you're an existing card member then you'll be still paying $79 annually. And American Express mentions that there's no limit on 2% regular rate how much you can earn. So basically you can spend unlimited amount on this card and you will still earn 2%. And some of the features American Express is adding which are the entertainment access to American Express invites, emergency medical insurance, travel accident insurance, car rental theft and damage insurance and their customer service which is $24.7. Now in terms of the insurances it's not that great however it's okay if it's a cashback credit card you would expect to have full insurance coverage which some other travel credit cards have and you will find the reviews of those cards on this YouTube channel and also I'd like to mention that there are other cashback credit cards available on the market. For example we have the MB&A cashback credit card which earns 2% flat and then there's the BMO from BMO we have the BMO World Elite Cashback Credit Card which is 1.75% flat on everything however this card comes with rich insurance and other features and then there's the other credit card which would be the Scotia Visa Infinite Momentum cashback credit card and the Scotia American Express Gold credit card which works as a cashback credit card as well and on the free side you will have the American Express simply cash regular credit card and then you will have some other credit cards from other card companies but usually they earn a poor 1% cashback credit card. So today my the purpose of my review actually this is not a review I'm just giving the information that this is what's happening to this card and if you'd like to decide which card you should go just look through the reviews I have done on my YouTube channel for other credit cards and then you can decide based on your needs and what type of products you buy and your lifestyle and there are other travel credit cards which have rich viewers which can be redeemed as a cashback as well and also have mentioned that those cards on my YouTube channel. So that's all for today keep an eye on this channel if you like what you see please give it a thumbs up and consider subscribing thank you