RBC ION Visa vs Simplii Financial™ Cash Back Visa* Card: Which one is better?
RBC ION Visa
2.7
Simplii Financial™ Cash Back Visa* Card
4.4
Welcome Bonus
Get 6,000 Avion points upon approval
Welcome Bonus*
Earn 8% cash back† for your first 3 months up to $1,000 eligible spend.
Our Cash Offer
N/A
Our Cash Offer
$60 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$258.39
RBC ION Avion
First Year Bonus Value
+
$35
RBC ION Avion
Annual Fee
-
$0
First Year Value
$293.39
$258.39 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$346.79
First Year Bonus Value
+
$7.29
Annual Fee
-
$0
Finly Rebate
+
$60Exclusive Offer
First Year Value
$414.08
$346.79 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards
- 1.5 points for every dollar in grocery, rides, gas, electric vehicle charging, streaming, digital gaming, subscriptions and more
- 1 point for all other purchases
How to Earn Rewards*
- 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
- 0.5% cashback on all other purchases†
Insurance Included
Extended Warranty
Up to a year
Purchase Protection
90 days
Insurance Included*
Extended Warranty
Up to 1 yearPurchase Protection
Up to 90 days
Extra Benefits
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Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
Extra points
50 Be Well points for every $1 spent on eligible products at Rexall
Extra Benefits*
N/A
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
20.99%2
Cash Advance:
22.99%2
Balance Transfer:
22.99%2
Annual Fee
$0
Annual Fee*
$0
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$15,000
Min Household Income:
$15,000
Loyalty Program
Loyalty Program*
N/A
Point Redemption Options
Most Optimal
Transfer to WestJet
1¢ / point
Financial Products
0.83¢ / point
Gift Cards
0.72¢ / point
Merchandise
0.7¢ / point
Travel
0.6¢ / point
Statement Credits (Cash)
0.58¢ / point
Point Redemption Options*
Not Applicable
Is this card worth it?
We actually don't like this card. It neither offers great benefits nor rewards, even for a free card. It's a very average card with many better and worse alternatives, both paid and free.
Is this card worth it?
If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.
Pros
- Good savings on gas if you are a regular petro-Canada gas customer.
Pros
- Highest cashback rate on restaurant purchases in Canada!
- Decent cashback rate on high spent categories such as groceries and gas.
- No annual fee for a card with great rewards.
Cons
- Insurance coverage is the most basic.
- Reward categories are not the best.
- Avion reward points are generally less valuable.
- Many other cards with no annual fee are available that are all-around better cards than ION Visa.
Cons
- No insurance and benefits other than the standard purchase protection and extended warranty.
- Cap on the rewards that can be earned on each category.
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