Zolve Classic Credit Card Review

The Zolve Classic Credit Card is more than your average no-fee contender. At its core, it's a valuable tool for credit building, allowing both students and newcomers to construct a financial footprint without a credit history or SIN.

While the points above are already appealing for beginners, the Zolve Classic Credit Card also entices seasoned spenders with its impressive promotional offers, grocery optimization, and rare digital wallet cashback feature.

To find out whether the Zolve Classic Credit Card belongs in your wallet, keep reading.

How You Earn Rewards

There are few different ways for spenders to pocket cashback with the Zolve Classic Credit Card.

On a day-to-day basis, cardholders earn:

• 4% cashback on groceries
• 2% cashback on digital wallet payments
• 0.5% cashback on other eligible purchases

The best part? These cashback rates are boosted during the first few months of membership, effectively earning cardholders:

• 8% cashback on groceries
• 4% cashback on digital wallet payments
• 1% cashback on all other eligible purchases

Our advice? Take advantage of those bonus rates while you can (but continue to practice responsible spending habits, of course). Afterwards, you'll still be subject to competitive grocery rates and rare digital wallet rewards.

Redeeming your Rewards

Cashback rewards are credited to your account; redemption options and any minimums are outlined in your card's terms and conditions.

5 Benefits of the Zolve Classic Credit Card

There are plenty of benefits that make the Zolve Classic Credit Card worthwhile, let's review them now:

No Annual Fee

The first perk worth mentioning is the fact that the Zolve Classic Credit Card has no annual fee. This means the card is accessible to a wide variety of applicants, including those who are budget-conscious.

Avoids Common Approval Barriers

Secondly, the Zolve Classic Credit Card avoids common approval obstacles, such as credit history and SIN requirements.

In fact, you can be approved for the Zolve Classic Credit Card with alternative documentation such as a passport, visa, PR card, or proof of residence.

These guidelines are helpful for those who are new to Canada and/or credit building.

Impressive Promotional Offers

To sweeten the deal, the Zolve Classic Credit Card also provides cardholders with some impressive promotional cashback rates.

For the first three months of membership, regular cashback rates are doubled. During this period, spenders receive:

• 8% cashback on groceries
• 4% cashback on digital wallet payments
• 1% cashback on all other eligible purchases

Competitive Cashback Rates on Groceries

Groceries are perhaps the most recurrent expense of any household, which is why grocery optimization is so important. Thankfully, when you apply for the Zolve Classic Credit Card, you're applying for one of the best cashback credit cards for groceries in Canada, comparable to some of the top-ranking annual-fee contenders.

This reward category is already competitive as it is, but it's even more beneficial during the first few months of membership when it's doubled.

Includes a Unique Earn Category

What sets the Zolve Classic Credit Card apart from its competitors is its unique digital wallet rewards category. This category earns cardholders cashback on digital wallet payments processed by Apple Pay, Google Pay, and Samsung Pay.

Like the grocery rewards category, the digital wallet rewards rate gets doubled during the first few months of membership, so take advantage of those first several tap-to-pay transactions.

3 Downsides to the Zolve Classic Credit Card

To keep a balanced review, we also have to include a few downsides to the Zolve Classic Credit Card.

Limited Reward Categories

When comparing this card to other leading cashback cards on the Canadian market, it may fall short in terms of reward category variety and overall rates (especially on non-specialized categories).

Still, the cards that beat the Zolve Classic Credit Card in the cashback department tend to be those with annual fees, so the comparison isn't always fair, especially from a budget-friendly perspective.

Limited Perks

Similarly, there are cashback contenders with better perks. However, these cards also often have an annual fee to account for any added benefits. That said, another no-fee card, the Rogers Red World Elite Mastercard, has better perks, including impressive travel coverage. Regardless though, this Rogers contender is much harder to qualify for from a beginner's perspective.

New to The Market

Another drawback to the Zolve Classic Credit Card is that it's new to the Canadian credit card market. Therefore, it hasn't yet established much of a reputation compared to other competing cards.

Comparison to Other Cashback Credit Cards in Canada

We mentioned some of the Zolve Classic Credit Card's competitors in the previous section, but now it's time to compare them to our featured cashback card side-by-side.

We'll start with this comparison table:

Neo World Elite Mastercard vs Zolve Classic Credit Card

Recognized as one of the top cashback credit cards for groceries, the Neo World Elite Mastercard offers an initially higher cashback rate on grocery purchases. This rate can be boosted even higher when cardholders keep $5k - $10k inside of a Neo Everyday Account and/or when they purchase groceries from Neo Partners. Keep in mind, however, that the initial rates are capped per month. The Neo World Elite Mastercard also optimizes recurring purchases and gas, but lacks that rare digital wallet purchase category.

While the Zolve Classic Credit Card boosts its cashback rates during its promotional period, this growth is short-lived, whereas the Neo World Elite Mastercard's cashback boosts can be longer lasting.

Generally, the Neo World Elite Mastercard also has better perks and coverage, but that's to be expected when comparing an annual-fee credit card to a no-fee credit card.

Additionally, the Neo World Elite Mastercard has credit score and annual income eligibility requirements.

Ultimately then, the Zolve Classic Credit Card is still ideal for beginners looking to build credit and optimize grocery purchases. Otherwise, the Neo World Elite Mastercard is a top grocery cashback contender with its boosted rewards system and added perks and coverage.

BMO CashBack World Elite Mastercard vs Zolve Classic Credit Card

Another grocery cashback credit card worth mentioning is the BMO CashBack World Elite Mastercard. This card also sports a higher cashback rate on groceries than the Zolve Classic Credit Card, even promotionally during the first few months of membership. These rates, however, are also capped per statement, even during the promotional period. While the BMO CashBack World Elite Mastercard adds more earn categories like transit, gas, and recurring payments, it lacks digital wallet purchase optimization.

The BMO CashBack World Elite Mastercard also has better perks and coverage, but those added benefits come with an annual fee (which is at least waived during the first year), high annual income requirements, and a recommended credit score prior to approval.

Therefore, the Zolve Classic Credit Card is still great for budget-conscious beginners looking to optimize grocery purchases, but the BMO CashBack World Elite Mastercard might be better for bigger spenders with a Canadian credit history.

Scotia Momentum Visa Infinite Card vs Zolve Classic Credit Card

The Scotia Momentum Visa Infinite Card's grocery rates also match those of the Zolve Classic Credit Card, except this card has an annual fee after the first year. The Scotia Momentum adds recurring payment and daily transit optimization, but the Zolve Classic Credit Card still has some edge with its digital payment optimization.

For the first three months of membership, like the Zolve Classic Credit Card, the Scotia Momentum offers a welcome bonus of extra cashback on all purchases. While this boost is bigger than the offer provided by the Zolve Classic Credit Card, it also comes with a spending cap.

Like other annual fee contenders, the Scotia Momentum Visa Infinite Card has good coverage and a couple of extra benefits, but it also has some annual income requirements and a recommended credit score for eligibility.

All things considered, the Zolve Classic Credit Card is still the best grocery fit for newcomers and those new to credit, but the Scotia Momentum is a solid option for bigger spenders with an established credit history.

SimplyCash Preferred Card from American Express vs Zolve Classic Credit Card

The SimplyCash Preferred Card from American Express is a solid cashback contender for groceries and a cashback welcome bonus. Its cashback rate on groceries are similar to the Zolve Classic Credit Card, and this rate is more than doubled during the first few months of membership (capped both regularly and promotionally).

While the card may have more features than the Zolve Classic Credit Card, that's also expected since the SimplyCash Preferred Card has an annual fee. Not to mention a credit score recommendation.

Luckily though, this option doesn't have any annual income requirements, making it a bit more accessible.

Still, the Zolve Classic Credit Card is best for newcomers and grocery optimization, whereas the SimplyCash Preferred Card is better for those willing to pay for similar rates and more perks.

Rogers Red World Elite Mastercard vs Zolve Classic Credit Card

Let's add another no-fee cashback contender to the mix. The Rogers Red World Elite Mastercard is rated our top no-fee credit card in Canada. But how does it compare to the Zolve Classic Credit Card?

While the Zolve Classic Credit Card provides valuable cashback rates on groceries and digital wallet payments, the Rogers Red World Elite Mastercard prioritizes unlimited cashback on eligible USD purchases, plus a flat rate of competitive cashback on all non-U.S. dollar purchases, particularly if you have a qualifying Rogers, Fido, Comwave, or Shaw account. This flat rate is far more impressive than the base rate you receive with the Zolve Classic Credit Card, especially after the promotional period.

The Rogers Red World Elite Mastercard is also notable for its travel insurance, a rarity on no-fee credit cards, plus its two travel-oriented perks: an airport lounge Dragon Pass membership and 5 days of no-cost roaming.

Unfortunately for newcomers, the Rogers Red World Elite Mastercard has a recommended credit score and high annual income requirements for approval.

Overall, while the Rogers Red World Elite Mastercard is a fantastic choice for budget-conscious high-earners with a qualifying service, the Zolve Classic Credit Card is best for those who want to optimize groceries and digital payments specifically and build a credit history from scratch.

How to Apply for the Zolve Classic Credit Card

After going over your options, if you're still set on getting your hands on the Zolve Classic Credit Card, here's how you can start the application process:

1. Sign up on Zolve through the official app or website
2. Apply for the Zolve Classic Credit Card and submit any necessary documentation, such as your passport, visa, PR card, or proof of residence
3. Wait for approval and start using your digital Zolve Classic Credit Card instantly

To fast-track this process, hit the "Apply Now" button at the top of this page.

Final Verdict

In conclusion, the Zolve Classic Credit Card is ideal for newcomers to Canada and those who are new to credit. It's also the perfect no-fee contender for grocery optimization and has an impressive sign-up bonus.

If you've already established a credit history in Canada, then you may want to apply for another leading cashback credit card, especially if you want extra perks, coverage, and rewards categories. However, you can save on annual fees by sticking with the Zolve Classic Credit Card and make the most out of digital payments, a feature that's truly one-of-a-kind!