Cardless Revamps Simon Card with Expanded 5% Category
Simon American Express Card and app

Cardless Revamps Simon Card with Expanded 5% Category

Cardless and Simon have unveiled an update to their co-branded credit card.

About the update:

The upgrade to the Simon American Express Card involves the top-tier category. Now, customers will be able to earn 5% at every store located in a Simon Center or any other Simon Mall, Mills, or Premium Outlet in the United States — with the asterisk that not all retailers accept American Express. However, cardholders will need to make at least 5 purchases per month with the card in order to earn any rewards for that billing cycle. Also of note is that the 5% category is capped at a total of $10,000 in spending per year. Earned rewards can be redeemed for statement credits.

This update comes less than nine months after Cardless and Simon originally introduced the rewards card. Previously, the 5% category was limited to “select” retailers at Simon locations, while other Simon shopping center stores earned 3% back. The card also used to earn 1.5% back on purchases made using mobile wallets. This has been removed, with all other purchases now earning a flat 1%.

As for other perks, Simon cardholders can also earn up to 10% back on select gift cards. Some current examples include Gap (10%), Adidas (7%), H&M (7%), Nordstrom (3%), and more. Plus, the Simon Card carries no annual fee and doesn’t charge any foreign transaction fees.

What they’re saying:

Discussing the update to the card, Cardless co-founder and president Michael Spelfoge said, “Our commitment is to continually enhance the experience for our valued customers. The upgraded Simon American Express Credit Card underscores our dedication to delivering unbeatable value and creating products that support our partner brands – in this case, working with Simon to create the best credit card to use when shopping at any Simon center.”

My thoughts:

Although the 5% category on the Simon Card already featured a good number of brands at last check, overall, I think this is a positive change for the card. That’s mostly because the 1.5% category was already mostly moot since there are cards that offer 2% or more on everything. Thus, trading in that element for a larger 5% category makes sense. That said, similar to the Bilt Mastercard, the Simon Card now requires cardholders to make at least five purchases per month. For most, that should be pretty achievable, but having to keep track can certainly be a bit annoying.

With all of that said, I’m still not personally ready to give the Simon Card a try since I don’t actually shop at my local mall all that much. Plus, with this revamp coming so soon after the card’s launch, I have to wonder if the offering is struggling and how long it will ultimately be around. In any case, if you were eyeing the Simon American Express Card before, now may be the time to add it to your wallet.

Editor’s note: A previous version of this post mistakenly stated that the initial version of the card earned 1.5% back on “all other purchases.” In reality, this 1.5% rate was only for mobile wallet purchases. We regret the error.


Kyle Burbank

Head Writer ~ Fioney
Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Fioney's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

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