Cardless and Simon Malls Partner to Launch Credit Card

Investing News

Fintech company Cardless and Simon Property Group have partnered to launch a new co-branded credit card, the Simon American Express Credit Card. The card, which does not yet have a launch date, will offer cardholders up to 5% cash back at participating retailers.

Key Takeaways

  • Cardless and Simon Property Group will soon launch a new credit card for Simon shoppers.
  • The American Express card will offer accelerated rewards with select retailers and at Simon properties, as well as a sign-up bonus.
  • The new card will be the first credit card from Cardless to run on the American Express network.

Earn Extra Rewards With the Country’s Largest Mall Network

Simon Property Group owns the largest network of shopping malls in the U.S., and soon consumers who shop at Simon properties regularly can take advantage of better rewards on their purchases. Once launched, the Simon American Express Credit Card will offer the following:

  • Up to 5% cash back at participating Simon destination retailers and on select online purchases.
  • Up to 3% cash back on all other eligible purchases at Simon Malls, Mills, and Premium Outlets.
  • Up to 1.5% cash back on all other purchases.

Additionally, new cardholders can earn $150 after spending $1,000 in the first 90 days with the card. Rewards can be redeemed for statement credits.

It’s unclear whether the “up to” language for the card’s proposed rewards rates means cardholders may earn less than 1.5% back. Cardless also didn’t mention whether the card would have an annual fee. If you’re thinking about applying, be sure to review the credit card’s terms and fine print when it officially launches to ensure that it’s a good fit for you.

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