Simplii Financial™ Cash Back Visa* Card vs SimplyCash® Card from American Express
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
Earn 20% cashback† for your first 3 months on up to $500 spend on eligible gas, groceries, drugstore purchases and pre-authorized payments.
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.
What each card is worth
Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.
Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.
$488
First-year value
$409
$346
Every year after
$309
Simplii Financial Visa Card is worth $79 more to you in year one.
It stays ahead after that, by $36 a year.
How the first year adds up
Annual rewards
$345.68
cash back a year
Welcome bonus
+ $92.5
first year only
Annual fee
− $0
no annual fee
Finly rebate
paid by FinlyWealth
First-year value
$488.18
Annual rewards
$309.2
cash back a year
Welcome bonus
+ $100
first year only
Annual fee
− $0
no annual fee
First-year value
$409.2
Where each card earns
A year of your spending at each card's own reward rates, most first.
4%Food and drinks
$168
1.5%Gas, Pharmacy, Groceries, Recurring Transactions
$123.18
0.5%All other purchases
$54.5
2%Groceries
$46.44
2%Gas
$39.74
1.25%All other purchases
$223.01
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
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.
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%.
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
N/A
Min Household Income:
$15,000
Min Personal Income:
N/A
Min Household Income:
N/A
How each card earns
The earn rates and caps, as each issuer sets them.
- 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†
- 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 and perks
What both cards include comes first in each list.
Insurance
Insurance
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Extended Warranty
1 yearPurchase Protection
90 days or theft up to $1,000 per occurrence
Common Carrier Travel Accident Insurance
Up to $100,000
Perks
Perks
No extra perks.
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Our take
Why we like it
Why we like 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.
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
Pros
- High restaurant optimization
- Decent cashback rates
- No annual fee
- No annual fee
- Attractive cashback rates
- Exclusive Amex perks
- Instant decision. No credit impact.
Cons
Cons
- Basic insurance
- No benefits
- Capped rewards
- Annual cashback cap
- Limited insurance
- Lower acceptance
More comparisons
Other cards we've put each of these up against.
vs Amazon Rewards Mastercard
vs Amex Cobalt
vs Amex Green
vs Amex SimplyCash™ Preferred
vs BMO CashBack World Elite
vs CIBC Aeroplan Visa Infinite
vs CIBC Costco Mastercard
vs MBNA Rewards World Elite
vs PC World Elite Mastercard
vs RBC ION+ Visa
vs Rogers Red
vs Rogers Red World Elite
vs Scotia Momentum Visa
vs Scotia Momentum Visa Infinite +
vs Tangerine Money-Back
vs Amazon Rewards Mastercard
vs Amex Aeroplan Reserve
vs Amex Aeroplan®
vs Amex Cobalt
vs Amex Gold
vs Amex Green
vs Amex Marriott Bonvoy
vs Amex Platinum
vs Amex SimplyCash™ Preferred
vs BMO CashBack World Elite
vs CIBC Costco Mastercard
vs MBNA Rewards World Elite
vs Rogers Red
vs Rogers Red World Elite
vs Scotia Amex Gold
vs Scotia Momentum Visa
vs Scotiabank Passport
vs Tangerine Money-Back
Legal
†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 February 2, 2026.
This 20% cash back offer (applies an incremental 18.5% cashback to the 1.5% cash back already awarded) on eligible gas, groceries, drugstore purchases and pre-authorized payments and is available to new cardholders who apply and are approved for the Simplii Financial Cash Back Visa* Card beginning February 2, 2026. The 18.5% incremental cash back applies on eligible gas, groceries, drugstore purchases and pre-authorized payments made during your first 3 monthly statement periods beginning from your account open date or $500 in total gas, groceries, drugstore purchases and recurring transactions (up to $92.50 bonus cash back), whichever comes first. This offer will not result in any changes to the 1.5% cash back already earned on eligible gas, groceries, drugstore purchases and pre-authorized payments and those purchases will be included within the $15,000 annual spend limit that earns 1.5% 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.
Simplii Financial is not responsible for maintaining the accuracy of content of this website. Please refer to Simplii Financial's official page for the latest information.
*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.
