The Simplii Financial Cash Back Visa is designed for Canadians who want to earn and save effortlessly. With no annual fee, it offers up to 20% cash back for the first three months (up to $100 on $500 in eligible spend). After the promo period, earn up to 4% at restaurants and bars on eligible purchases. The regular purchase interest rate is 21.99%, and the minimum income requirement is only $15,000 per year. Apply is open to Canadian residents (outside Quebec) who have not declared bankruptcy in the last seven years. Credit limits can reach up to $10,000 depending on approval.

How to apply for the Simplii Financial Cash Back Visa

• Gather your personal and financial information, including income details and address
• Make sure you meet the income and residency requirements
• Go to the official Simplii Financial website application page
• Complete the application form
• Wait for approval, which usually takes a few business days

Key advantages

One major benefit is the promotional cash back rate: earn up to 20% back during your first three months, making it perfect for anyone with planned big-ticket purchases.

Additionally, with no annual fee and up to 4% back at restaurants and bars, it has a competitive rewards structure. Cardholders may add up to three additional users and set spending limits as needed.

Potential drawbacks

The standard purchase interest rate of 21.99% is in line with other credit cards, yet could add up if balances aren’t paid in full each month.

The cash advance rate is higher at 22.99%, and the card is not currently available to residents of Quebec, which could limit access for some.

Our verdict

Simplii Financial’s Cash Back Visa offers strong introductory and ongoing cash back rates, ease of application, and zero annual fee. It’s a smart pick for newcomers and budget-minded Canadians who pay balances in full every month.