Cash Back
No Annual Fee
Newcomer / New to Canada
Simplii Financial Cash Back Visa Card
Simplii Financial
Current Welcome Offer
Up to $100 Cash Back + $50 PRESTO Voucher
Annual Fee
$0
Purchase APR
21.99%
Cash Adv. APR
22.99%
Welcome Bonus
~$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 & Takeout 4.00%
Gas & Transit 1.50%
Travel 0.50%
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.
- Restaurants, Bars & Coffee Shops: 4% (up to $5,000 annual spend)
- Gas, Groceries, Drugstores & Pre-auth Payments: 1.5% (up to $15,000 annual spend)
- All Other Purchases: 0.5% (Unlimited)
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: $150.00
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
Additional Perks
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Insurance Coverage
Purchase Security
Protects purchases against theft or damage.
Extended Protection Insurance
Protects your purchases with double the manufacturer’s warranty, up to one additional year.
Rates & Fees Details
| Purchase APR | 21.99% |
|---|---|
| Cash Advance APR | 22.99% |
| Annual Fee | $0 |
| Supplementary Card | $0.00 |
| Income Required | Household: $15,000 |