Simplii Financial Cash Back Visa Card
Cash Back No Annual Fee Newcomer / New to Canada

Simplii Financial Cash Back Visa Card

Simplii Financial Simplii Financial
Welcome Bonus: Up to $100 Cash Back + $50 PRESTO Voucher
Annual Fee $0
Purchase APR 21.99%
Cash Advance 22.99%
Bonus Value $150

RateBuddy Verdict

The Good
  • The 4% cash back rate on dining, bars, and coffee shops is one of the highest available in Canada for a no-fee card.
  • Highly accessible to students and newcomers with a very low $15,000 household income requirement.
  • Includes a unique 1.5% earn rate on drugstore purchases and pre-authorized payments.
The Trade-offs
  • Cash back is only paid out once per year in January, offering less flexibility than monthly payout cards.
  • The 4% dining tier is capped at $5,000 in annual spending, after which it drops to the 0.5% base rate.

Rewards & Earnings

Groceries 1.50%
Dining 4%
Gas 1.50%
Travel 0.50%
Recurring Bills 1.50%
Base Rate 0.50%
Rewards Summary: Earn 4% on restaurants and bars; 1.5% on gas, groceries, drugstores, and pre-authorized payments; 0.5% on all other purchases.

Welcome Bonus Details

Earn up to 20% cash back ($100 max) in your first 3 months when you spend up to $500 on eligible gas, grocery, and drugstore purchases, and pre-authorized payments. Plus, earn a $50 PRESTO Voucher.

Estimated Value: $150

Features & Benefits

No Annual Fee
No annual fee for primary or up to 3 additional cards
Extended Warranty Insurance
Double manufacturer warranty up to 1 year
Purchase Security Insurance
Purchase Security included

Insurance Coverage

Includes Purchase Security and Extended Protection Insurance. (Optional CIBC Travel Medical Insurance available).

Rates, Fees & Eligibility

Purchase APR21.99%
Cash Advance APR22.99%
Annual Fee$0
Supplementary Card Fee$0
Grace Period21 days
Income Required Household: $15,000
Recommended Credit Score—

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Filed Under

Cash Back No Annual Fee Newcomer / New to Canada
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