Cash Back
No Annual Fee
Student
Simplii Financial™ Cash Back Visa* Card
Simplii Financial
RateBuddy Choice for Newcomers and Young Adults
Welcome Bonus:
Earn Up to $100 Cash Back
Build your credit history in Canada: Get up to a $10,000 credit limit when you apply through the New to Canada Banking Program. Pay no annual fee and earn cash back on your moving expenses and new bills.
Secure RateBuddy connection · Application completed on Simplii Financial’s site
Annual Fee
$0
Purchase APR
21.99%
Cash Advance
22.99%
Bonus Value
$100
RateBuddy Verdict
RateBuddy Take
The Simplii Financial Cash Back Visa Card is a strong no-annual-fee choice for Canadians who spend regularly on dining and everyday essentials. Its standout 4% cash back on eligible restaurant, bar and coffee shop purchases provides excellent value, while the 1.5% rate on eligible gas, groceries, drugstores and pre-authorized payments adds practical everyday rewards.
The 0.5% base rate and annual cash-back redemption are the main trade-offs. Overall, this card is particularly well suited to students, newcomers, young adults and budget-conscious households that pay their balance in full and want straightforward cash back without an annual fee.
The Good
- Excellent dining rewards: Earn 4% cash back on eligible restaurant, bar and coffee shop purchases, up to $5,000 in annual spending—an impressive rate for a no-annual-fee card.
- No annual fee: Pay $0 for the primary card and up to three additional cardholders, making it easy to earn rewards on household spending.
- Rewards on everyday essentials: Earn 1.5% on eligible gas, grocery and drugstore purchases and pre-authorized payments, up to $15,000 in annual spending.
- Unlimited overall earning: Earn 0.5% on other eligible purchases, with no limit on the total cash back you can accumulate.
- Accessible income requirement: The minimum annual household income is only $15,000, making the card accessible to students, newcomers and other value-focused applicants.
- Useful purchase protection: Includes purchase security and extended warranty coverage, which can double the manufacturer’s warranty for up to one additional year.
The Trade-offs
- Higher reward rates have spending limits: The 4% dining rate and 1.5% everyday-category rate apply only up to their respective annual spending limits.
- Modest base earning rate: Purchases outside the enhanced categories earn 0.5%, which is lower than the standard return offered by some competing cash-back cards.
- Cash back is paid annually: Accumulated rewards are generally applied as a credit to the primary cardholder’s January statement rather than being available for redemption at any time.
- Limited included travel coverage: The card includes purchase protection, but comprehensive travel insurance is not included; travel medical coverage is available separately.
- Interest can outweigh the rewards: The card currently charges 21.99% interest on purchases and 22.99% on cash advances, so it is best suited to cardholders who pay their balance in full.
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.
Estimated Value: $100
Features & Benefits
No Annual Fee
Student Friendly
Newcomer Friendly
Earn cash back on every purchase
Extended Warranty Insurance
Value: 1
Purchase Security Insurance
Insurance Coverage
Includes Purchase Security and Extended Protection Insurance. (Optional CIBC Travel Medical Insurance available).
Rates, Fees & Eligibility
| Purchase APR | 21.99% |
|---|---|
| Cash Advance APR | 22.99% |
| Annual Fee | $0 |
| Supplementary Card Fee | $0 |
| Grace Period | 21 days |
| Income Required | Household: $15,000 |
| Recommended Credit Score | — |
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Filed Under
Cash Back
No Annual Fee
Student
Newcomer / New to Canada
Rewards
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