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Simplii Financial™ Cash Back Visa* Card vs MBNA Rewards World Elite® Mastercard®: Which one is better?
Simplii Financial™ Cash Back Visa* Card
MBNA Rewards World Elite® Mastercard®
Welcome Bonus
Earn 8% cash back† for your first 3 months up to $1,000 eligible spend.
Welcome Bonus
20,000 bonus points†† (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days of your account opening. 10,000 bonus points††(approximately $80 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening. This offer is not available for residents of Quebec.
Our Cash Offer
$60 Cash Rebate offer from FinlyWealth
Our Cash Offer
$120 Cash Rebate offer from FinlyWealth
Rewards Breakdown
Annual Rewards
$337.19
First Year Bonus Value
+
$7.29
Annual Fee
-
$0
Finly Rebate
+
$60Exclusive Offer
First Year Value
$404.48
$337.19 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$657.62
MBNA Rewards
First Year Bonus Value
+
$300
MBNA Rewards
Annual Fee
-
$120
Finly Rebate
+
$120Exclusive Offer
First Year Value
$957.62
$537.62 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
- Earn 5 points‡ for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category.
- 1 point‡ for every $1 on all other eligible purchases.
- Each year, you will receive Birthday Bonus Points‡ equal to 10% of the total number of Points the Account earned in the 12 months before the month of the primary cardholder's birthday, to a maximum Birthday Bonus each year of 15,000 Points.
Insurance Included
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Insurance Included
Extended Warranty
Up to a yearPurchase Protection
Up to 90 days
Lost or Stolen Baggage
$1000/person
Baggage Delay
$1000/person.svg)
Car Rental Damage & Theft
31 days
Travel Accident
$1,000,000
Mobile Device Insurance
$1000
Emergency Out of province Medical
$2M for 21 daysFlight Delay
$500/person after 4 hours
Extra Benefits
N/A
Extra Benefits
Price Protection
$500/item, $1000/account per year
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Trip and legal Assistance
Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year).svg)
Concierge Services
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:
19.99%2
Cash Advance:
24.99%2
Balance Transfer:
22.99%2
2 Important Notice - Effective from the first day of your statement period beginning September 2025 and reflected on your October 2025 statement, the following rates apply: Standard Annual Interest Rates of 21.99% on eligible purchases, 22.99% on balance transfers✪, and 22.99% on cash advances
Annual Fee
$0
Annual Fee
$120
Income Required
Min Personal Income:
$15,000
Min Household Income:
$15,000
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Loyalty Program
N/A
Loyalty Program
Point Redemption Options
Not Applicable
Point Redemption Options
Most Optimal
Travel
1¢ / point
Gift Cards
0.98¢ / point
Statement Credits (Cash) - World Elite
0.82¢ / point
Merchandise
0.8¢ / pointStatement Credits (Cash) - Platinum
0.5¢ / point
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 MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.
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
- Both restaurants and groceries earn the most rewards, two of the most commonly spent categories.
- The MBNA rewards world elite Mastercard offers a great annual birthday bonus with up to $150 in value.
- A solid list of travel insurance and benefits.
- Price protection, a rare feature not offered by many other cards.
- Good value for many of the card's redemption options.
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
- Trip cancellation and interruption insurance, two great benefits are missing from this card.
- Not the best card for gas purchases.
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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.
- This offer is not available for residents of Quebec. For residents of Quebec, please click here.
- Important Notice: Effective from the first day of your statement period beginning September 2025 and reflected on your October 2025 statement
Standard Annual Interest Rates of 21.99% on eligible purchases, 22.99% on balance transfers✪, and 22.99% on cash advances
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.