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Simplii Financial Cash Back Visa: No Annual Fee and Up to 20% Cash Back
Discover the Simplii Financial Cash Back Visa with no annual fee and up to 20% cash back. Low $15,000 income requirement, easy online application, and extra perks for Canadian cardholders.
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Simplii Financial™
No annual fee. Earn up to 20% cash back on your first $500 in select purchases, then up to 4% back on restaurants & bars. Low entry at $15,000 income minimum.
The Simplii Financial Cash Back Visa* Card brings a compelling offer for Canadians looking for strong rewards with zero annual fee. Featured highlights include earning up to 20% cash back on eligible gas, grocery, pharmacy purchases, and pre-authorized payments on your first $500 in the first 3 months. Afterward, cardholders can earn up to 4% back on restaurant and bar spending.
With an annual purchase interest rate of 21.99% and a cash interest rate of 22.99%, this card’s competitive structure is matched with accessibility. The minimum required household income is just $15,000, with credit limits available up to $10,000. Eligibility is open to Canadian residents outside Quebec, with no bankruptcy in the past 7 years required.
How to Apply: Step by Step
- Confirm minimum eligibility requirements, including age of majority and minimum income.
- Prepare your personal and financial information.
- Apply easily online through Simplii Financial or via mobile banking.
- Wait for approval – often within a few business days.
- If approved, receive and activate your card for immediate use.
Reasons to Consider This Card
The major benefit is no annual fee, plus considerable cash back rates on essentials and dining. The card also allows for up to three free additional cardholders, helping you earn rewards even faster. Added perks like purchase security insurance and an optional $50 PRESTO voucher sweeten the deal, while digital banking with Interac verification makes applying simple and straightforward.
Potential Drawbacks to Note
The high standard interest rates mean carrying a balance each month can get expensive. Also, cash advances and balance transfers accrue interest immediately, limiting the value if you regularly use these features. The card is not available to Quebec residents, narrowing its eligibility.
Final Verdict
The Simplii Financial Cash Back Visa* Card is an ideal pick for Canadians seeking straightforward cash back rewards, no annual fee, and useful extras. It’s best for those who pay statements in full and want both flexibility and value in their credit card.
