5 Things to Know About the Simon Credit Card

A surprisingly rewarding choice for those who frequent Simon Malls, but there's one catch to watch out for.
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Written by Jaime Hanson
Lead Writer
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Edited by Erin Hurd
Assigning Editor
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For many shoppers, the retail experience has become increasingly digital, filled with one-click purchasing and next-day shipping. But there are still those among us who love the thrill of wandering between shops and enjoying an impromptu try-on session with friends.

If you’re a regular at Simon mall properties, the $0-annual fee Simon Credit Card from Cardless is worth a look. Its rewards outpace most general-purpose cards for mall-centered buys, and it boasts flexibility that store-specific cards often can't match.

That said, the card comes with a few caveats you should be aware of to make the most of your rewards. Here are five things to know about the Simon® American Express® credit card from Cardless.

1. It earns 5% cash back at all Simon properties in the U.S.

Cardholders earn 5% cash back on all in-person transactions within Simon's nearly 200 U.S. Simon properties, including Simon Malls, Premium Outlets, and The Mills. That’s a much better rewards rate than you’ll find elsewhere for these stores using a general rewards credit card.

The 5% rate comes with an earnings cap, albeit a generous one. You’ll earn 5% on up to $10,000 in combined annual spending, 1% thereafter.

🤓Nerdy Tip

The Simon credit card is part of the American Express network, so earnings are limited to retailers that accept AmEx.

2. You must use the card five times per billing cycle to earn rewards

This is the biggest downside of the Simon credit card, as it requires some extra vigilance to make sure you reap the full benefits of the card’s rewards. Regardless of how much you spend on each purchase, the card requires five transactions per billing cycle to qualify for rewards. If you only make four transactions, you won't earn rewards on any of them.

Fortunately, according to Simon, eligible purchases include any store listed in the mall’s directory. So if you make one mall trip a month and only stop at four stores, a quick stop at Simon’s food court will count toward your five transaction threshold. That’s a great excuse to stop for a treat!

3. Get up to 10% back on select gift cards

If you’re not visiting a mall anytime soon, this added benefit can earn big rewards while helping you meet that five purchase minimum per billing cycle. Through the Cardless app, you can purchase store gift cards to a variety of Simon retailers and earn up to 10% back on those purchases.

As of October 2023, examples of gift card savings include: 10% back on Gap gift cards, 7% back on H&M gift cards, and 6% back on Athleta gift cards.

🤓Nerdy Tip

Since the 5% earnings category is limited to purchases made at brick-and-mortar Simon locations, purchasing gift cards is a great way to earn a high rewards rate when online shopping at your favorite stores.

4. Rewards are redeemed as statement credit or cash back

Simon rewards offer simple, flexible redemption in the form of a statement credit applied to your credit card balance. Alternatively, you can request cash back via check with a minimum redemption of $25.

This is a big perk compared to most retail credit cards. Most store cards offer rewards that are only good for more merchandise at that store, or family of brands. They tend to come with complicated rewards redemption and short expiration windows. But with Simon's card, cash is king. Even if you only shop at a few stores within your local Simon mall, the flexibility of cash or a statement credit makes these rewards much more valuable.

5. It's a (mostly) digital cardholder experience

As the the issuer behind the Simon® American Express® Credit Card, Cardless is known for its digital-first approach. You can apply for the Simon credit card with your smartphone and, if approved, use it for purchases almost instantly through your digital wallet. The app will also help you track your number of transactions per billing period, purchase gift cards, pay your bill and apply earned statement credits to your card balance.

Despite the Cardless name, you’ll still be sent a physical card by mail in case you prefer an analog shopping experience. » MORE:What is a digital wallet and how does it work?

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