As many of you that have the American Express SimplyCash card already know, they have recently downgraded the rewards program. You no longer recieve 5% cash back on all gasoline purchases. Instead, you will receive only 3%. Wireless charges and office supply purchases are not affected.

This is the latest in a trend of rapidly-rising gasoline purchases. There used to be quite a few cards that offered 5% back on gas purchases, but now you're lucky if you find any at all (that aren't under some sort of time-constraint). American Express is actually one of the last credit card companies to downgrade their rewards program.

I would still use this card for all wireless and office supply charges while switching to the Chase Freedom Rewards card for your gasoline purchases (and most other purchases as well), as it offers a potential for 3.75% cash back on your fill-ups.