Simplii Financial™ Cash Back Visa* Card vs SimplyCash® Card from American Express: Which one is better?
Simplii Financial™ Cash Back Visa* Card
SimplyCash® Card from American Express
Welcome Bonus
Earn 8% cash back† for your first 3 months up to $1,000 eligible spend.
Welcome Bonus
In your first 3 months as a new SimplyCash® Card from American Express Cardmember, you can earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s on top of your everyday cash back earn rates. That’s up to $100 in bonus cash back.
Our Cash Offer
$50 Cash Rebate offer from FinlyWealth
Our Cash Offer
N/A
Rewards Breakdown
Annual Rewards
$337.19
First Year Bonus Value
+
$7.29
Annual Fee
-
$0
Finly Rebate
+
$50Exclusive Offer
First Year Value
$394.48
$337.19 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$311.78
First Year Bonus Value
+
$100
Annual Fee
-
$0
First Year Value
$411.78
$311.78 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
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†
How to Earn Rewards
- 2% cash back on eligible gas and grocery purchases in Canada (up to $300 cash back annually)
- 1.25% cash back on all other eligible purchases
Insurance Included
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Insurance Included
Extended Warranty
1 yearPurchase Protection
90 days or theft up to $1,000 per occurrence
Travel Accident
Up to $100,000
Extra Benefits
N/A
Extra Benefits
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Interest Rates
Purchase:
20.99%1
Cash Advance:
22.99%1
Balance Transfer:
22.99%1
1 “Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.
Interest Rates
Purchase:
21.99%2
Cash Advance:
21.99%2
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
Annual Fee
$0
Annual Fee
$0
Income Required
Min Personal Income:
$15,000
Min Household Income:
$15,000
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
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.
Is this card worth it?
The SimplyCash® Card from American Express stands out for its no annual fee and strong cash-back earning potential, offering up to $100 in statement credits within the first 10 months. What makes it even more appealing are the unique perks, such as early access to concert tickets and extra layers of security for online shopping. These extra benefits, along with the affordability, make it a strong contender for those looking for a reliable cash-back card with no annual fee. It's an excellent choice for everyday spending while still enjoying exclusive Amex advantages.
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.
Pros
- No annual fee: The card does not charge an annual fee, making it accessible and cost-effective.
- Attractive cash-back rates: Offers a solid structure for earning cash-back on eligible purchases.
- Exclusive Amex perks: Provides benefits such as access to concert tickets and enhanced security for online shopping.
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.
Cons
- Annual cash-back cap: Limits the total amount of cash-back you can earn within a year.
- Limited travel and shopping insurance: The card lacks comprehensive travel and shopping coverage compared to other premium cards.
- American Express acceptance: Amex is not accepted as widely as Visa or Mastercard.
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Legal
†Terms and conditions apply. Click ‘Apply Now’ for complete details. Banking services are not available in Quebec.
This offer applies to the Simplii Financial Cash Back Visa Card. You can qualify for this offer if you apply and are approved for a new eligible card beginning May 14, 2025.
This 8% cash back offer (applies an incremental 4% cash back to the 4% cash back already awarded) on eligible restaurant, bar and coffee shop purchases and is available to new cardholders who apply and are approved for the Simplii Financial Cash Back Visa Card beginning May 14, 2025. The 4% incremental cash back applies on eligible restaurant, bar and coffee shop purchases made during your first 3 monthly statement periods beginning from your account open date or $1,000 in total restaurant, bar and coffee shop purchases (equal to $40 bonus cash back), whichever comes first. This offer will not result in any changes to the 4% cash back already earned on restaurant, bar and coffee shop purchases, and those purchases will be included within the $5,000 annual spend limit that earns 4% cash back.
This offer may be withdrawn or changed without prior notice at any time. Simplii Financial may, in its sole discretion, disqualify, limit or revoke this offer if you are believed to be abusing or manipulating it, or engaging in any suspicious or fraudulent activity. Simplii Financial may approve your application, but you are not eligible to receive this offer if you have opened or cancelled a Simplii Financial Cash Back Visa Card within the last 12 months.
*“Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.
*Terms and conditions apply.
If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.