Attention frequent mall shoppers: the Simon® American Express® Credit Card just got an upgrade that’s worth your attention. Cardless, who collaborates with American Express and Simon Property Group on the card, announced an improved 5% cash-back earning rate at any store within Simon centers, alongside a new cash redemption option for rewards.
If your local shopping outlet or mall is a Simon property, the new-and-improved Simon® American Express® Credit Card may be a valuable addition to your wallet.
Simon® American Express® Credit Card
Up to 5% Reward Rate
Earn 5% back on the first $10,000 spent annually on eligible purchases at Simon Mall, Mills, or Premium Outlet inRead More
Welcome Bonus
N/A
Annual Fee
$0
Regular APR
21.24% - 31.24% Variable
Credit Score
Good, Excellent (700 - 749)
If you’re a mall shopper, the Simon American Express is ready to reward you with 5% cash back at any Simon Center location (up to the annual limit). That’s an above-average return that covers a lot of merchandise categories. Just be sure to use your card five times per cycle to earn full rewards.
- 5% back at Simon destination retailers and on select online purchases
- Instant card issuance directly into your phone’s wallet function
- $0 annual fee
- Other cards offer a better base spend for unbonused purchases
- 5% back category is capped at $10,000 each year
- Options for 5% back are limited
- Earn 5% back on the first $10,000 spent annually on eligible purchases at Simon Mall, Mills, or Premium Outlet in the United States, earn 1% thereafter
- Earn up to 10% back on gift cards from select retailers
- Earn 1% back on other purchases
- No annual fee
Enhanced 5% Cash Back at Any Simon Center Location
Before this upgrade, the Simon® American Express® Credit Card was already a solid card for shoppers who frequent Simon malls and outlets. With a $0 annual fee, even those who casually shop at Simon retail storefronts could find value in this card.
With these upgrades, the Simon® American Express® Credit Card adds even more value to consumers. Cardholders can now earn 5% cash back on all purchases made at any store within Simon centers along with 1% cash back on all other purchases. There’s a $10,000 annual limit on the 5% category, but that’s a lot of Auntie Anne’s pretzels.
Note that Simon gift card purchases are expressly excluded from earning 5% back.
Updates to 5% Rewards-Earning With One Catch
Prior to this upgrade, the Simon® American Express® Credit Card only offered 5% cash back on purchases at participating retailers. Purchases made with non-participating retailers in any U.S. Simon Malls, Mills or Premium Outlets in the U.S. would earn 3% cash back. After hitting a $10,000 annual spending limit, purchases would then earn a reduced rate for the remainder of 1% cash back, with the exception of mobile wallet purchases earning 1.5% cash back.
Now, cardholders will no longer have to keep track of which retailers participate in the card’s 5% cash-back offering. The enhanced card now offers 5% cash back on all purchases made at any store within Simon properties, still with a $10,000 annual spending limit. Identical to the pre-upgrade version of this card, cardholders still receive 1% cash back on all other purchases. The mobile wallet bonus rate has been removed from the card.
There is one catch that comes with this card’s upgrade: In order to receive rewards during a statement cycle, cardholders must use their Simon® American Express® Credit Card five times. So designating this card as your daily coffee card or for small purchases can ensure you’re using it enough during your statement period to receive the maximum amount of rewards on Simon retail purchases.
New Cash-back Redemption Option
Another improvement made to the card is more flexibility in rewards redemption options. Previously, all rewards earned with this card would be issued in the form of a statement credit, which was credited to a cardholder’s account at the end of each billing cycle.
With these updates, Simon® American Express® Credit Card cardholders can redeem rewards for cash in addition to statement credits. Though it’s a small improvement, this redemption option gives consumers more control over their rewards, which is always a benefit.
Bottom Line
The improved 5% cash-back earnings on the Simon® American Express® Credit Card, partnered with its $0 annual fee, make it a valuable card to those who even casually shop in-person at Simon retail properties.
As long as you can remember to use this card five times per statement period to maximize your rewards, adding this card to your wallet in time for holiday season spending may be a no-brainer.
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