New Simon AmEx Credit Card From Cardless Promises Up to 5% Back

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A new co-branded credit card from Cardless and Simon Property Group is aimed at mall and outlet shoppers.

Certain details are unclear, including a release date, but the forthcoming Simon American Express Credit Card from Cardless is promising the following rewards in the form of statement credit:

  • Up to 5% back on purchases at eligible merchants at Simon Malls, Simon Mills and Simon Premium Outlets, and on certain online purchases.

  • Up to 3% back on other qualifying purchases at Simon Malls, Simon Mills and Simon Premium Outlets.

  • Up to 1.5% back on all other qualifying purchases.

While these rewards could be lucrative for the right shoppers, it’s worth noting that earnings will be limited by an annual spending cap, which Cardless has not disclosed. It's also not clear what the eligibility criteria will be.

The Simon American Express Credit Card from Cardless also features a welcome offer: Cardmembers will be eligible to earn a bonus worth $150 in statement credits after spending $1,000 in the first 90 days.

It will be the first Cardless product that runs on the American Express payment network. Previously, Cardless has offered Mastercard products co-branded primarily with professional sports teams, including the NBA's Cleveland Cavaliers and MLB’s Miami Marlins. You'll be able to apply for the Simon AmEx from your smartphone and, if approved, have the new product in your mobile wallet and ready for use virtually instantly.

A physical card will still be sent to you via the mail.

Eligible Simon retailers

Purchases made from any of Simon's nearly 200 locations within the U.S. and Puerto Rico will be eligible to earn 3% back, up to a not-yet-disclosed annual spend limit.

As for the 5%-back rate, Cardless has not clarified which specific retailers will participate in that offering, or how many locations will be eligible. According to a representative, “the list of included merchants will be provided when the card becomes available to consumers and may change over time.”

With so many unknowns, it’s hard to say whether this card will be a good deal for consumers. NerdWallet will update this story as additional details are announced.

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