Review: Simplii Financial Cash Back Visa Card

At Frugal Flyer, we are about maximizing your miles and points, your cashback, and all the rewards you can earn from understanding and utilizing credit cards to their full extent.

However, there is a place for so-called ‘daily driver’ cards – credit cards that you use to make regular budgeted purchases or collect points from a specific spending category. These are cards that you keep in your wallet and use for regular purchases without trying to optimize every part of your financial life.

Let’s dive into our review of the Simplii Financial Cash Back Visa card to see if it has a place in your wallet.


Welcome Bonus

The Simplii Financial Cash Back Visa card currently has a welcome offer in which cardholders can earn up to $100 cash back:

  • Earn 20% cash back on eligible gas, groceries, drugstore purchases, and pre-authorized payments (up to $500 in spend) for the first 3 months of card membership
Simplii Financial Cash Back Visa

The Simplii Financial Cash Back Visa card earns cash back and gives cardholders the opportunity to earn 4% cash back on purchases at restaurants, bars, and coffee shops.

Check out our Simplii Financial Cash Back card review for more details.

50 Cash back

You can also sign up using a referral link to get an additional $50 on top of the bonus mentioned above!

Earning Rates

The primary draw to the Simplii Visa credit card is its generous earning rate on spending at restaurants, bars, and coffee shop purchases. You can earn 4% up to a maximum spend of $5,000 per year. That’s a total of $200 cash back, which isn’t insignificant. Free money is free money, after all. And hey it’s not like being the cool guy or gal who puts down their card on the tab and gets e-transfers from their friends will be unpopular.

simplii credit card earning categories

Furthermore, the card earns a 1.5% category bonus at gas, grocery, and drugstore purchases and pre-authorized payments, to a maximum spend of $15,000 per year. That would be a total of $225 cash back. However, the 1.5% is also hardly the most lucrative in these categories, and there are better cards that would get you more for your spend.

It is also worth mentioning that the Simplii Financial Visa credit card earns 0.5% cash back on all other eligible purchases, with no limit on spending. This however isn’t very competitive, and if you’ve maximized the category spend, you’re likely better off spending on another card. 

Annual Fee

The Simplii Financial Cash Back Visa card has no annual fee, making it a great choice if you are looking for a no-cost credit card to add to your wallet.


The Simplii Financial Cash Back Visa card doesn’t wow with its benefits, but it does offer a few perks as a no annual fee credit card.

Insurance Coverages

The Simplii Financial Cash Back Visa card offers purchase security and extended protection insurance.

Purchase security insurance provides coverage for most insured items of personal property from being lost, stolen, or damaged for up to 90 days from the date of purchase. 

Extended protection insurance provides cardholders with an extended warranty for purchases made on the card, by a lesser timeframe of twice the original warranty period, or one additional year. The payment for the product must be entirely covered by your Simplii Financial Cash Back Visa card in order for you to be eligible for this benefit.

Additional Cardholders

Simplii Financial Cash Back Visa card holders can add up to three additional cardholders to their credit card account for no additional fee. This might be a great option for couples who are looking to share one credit card account between themselves.

Redeeming Cash Back

Cash back earned on the Simplii Financial Cash Back Visa card is distributed annually on the December account statement as a statement credit. However, if you have a Simplii Financial banking account you could likely request the balance to be transferred to cash.

This is less flexible than other cash back credit cards that allow you to request a cash back payout at any point provided you have earned more than the minimum amount, but many cardholders may appreciate the once a year payout closer to Christmas time.


The Simplii Financial Cash Back Visa credit card presents a simple value proposition to those who are looking for a new credit card with an easy to understand rewards system and no annual fee. The welcome bonus is decent and the card presents a good opportunity on earning rates of up to 4% cash back on certain categories.

Frequently Asked Questions

  • When and how is cash back distributed for the Simplii Financial Cash Back Visa card?

    Once per year, in the month of December. You will receive it in the form of a statement credit.

  • Do I need to bank with Simplii to get the Simplii Financial Cash Back Visa Card card? 

    Yes. You will be dinged twice in credit pulls, once for opening a chequing and then again for opening a Visa. Simplii always pulls exclusively from Equifax, which can be monitored via Borrowell.

  • Is Simplii the same as CIBC? 

    “Simplii Financial is a trademark and division of CIBC. Banking products and services branded Simplii Financial are offered by CIBC.” 

  • Is the Simplii Financial Cash Back Visa card available in Quebec?

    Unfortunately, the Simplii Financial Cash Back Visa card is not available to individuals located in Quebec.

  • What is the minimum income required to qualify for the Simplii Financial Cash Back Visa card?

    The minimum income requirement for this card is $15,000 (individual or household).

Reed Sutton

Reed Sutton

Founder at Frugal Flyer
Reed is addicted to the art of earning and redeeming travel points, and frequently pairs his trips with his other hobby: photography. Through Frugal Flyer, Reed aims to distill some of the complex and esoteric points strategies into digestible information. Furthermore, he hopes to use his technical expertise to develop invaluable applications and tools for the travel community.


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