Simplii Financial™ Cash Back Visa* Card Review
The Simplii Financial Cash Back Visa Card is crowned the best no-fee dining credit card in Canada.
Jun 18, 2026 7:32 PM
The Bottom Line
If you want to optimize restaurant, bar, and coffee shop purchases for no annual fee, look no further than the Simplii Financial Cash Back Visa Card.
Skip to: Detailed Review
on Simplii Financial™'s website
Welcome Bonus
20% cashback† up to $500 in spending
Annual Fee
$0
Interest Rates
20.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
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
Coverage
Purchase Protection
Up to 90 days
Extended Warranty
Up to 1 year
Eligibility
Credit Score
GoodAnnual Income
$15,000 household
Welcome Bonus Details
Earn 20% cashback† for your first 3 months on up to $500 spend on eligible gas, groceries, drugstore purchases and pre-authorized payments.
Card Details
Interest Rates
Purchase APR
20.99%*
Cash Advance APR
22.99%*
Balance Transfer APR
22.99%*
Fees
Annual Fee
$0
Additional Cards
$0
Eligibility
Minimum Individual Income
N/A
Minimum Household Income
$15,000
Credit Score Estimate
Good
Type
Card Type
Credit
Reward Type
Cash BackPros & Cons
Pros
- High restaurant optimization
- Decent cashback rates
- No annual fee
Cons
- Basic insurance
- No benefits
- Capped rewards
Awards
Best Dining Cash Back Credit Card
2026
Our Detailed Review
How You Earn Rewards with the Simplii Financial Cash Back Visa Card
The Simplii Financial Cash Back Visa Card is the best Simplii Financial credit card in Canada and one of the top cash back credit cards in Canada.
Expect:
- 4% cash back on eligible restaurant, bar, and coffee shop purchases (up to $5,000 spent annually)
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments (up to $15,000 spent per year)
- 0.5% cash back on all other purchases
With its reward potential and low-cost combined, this card is also considered one of the best credit cards in Canada.
Redeeming Your Rewards with the Simplii Financial Cash Back Visa Card
You’ll receive your rewards from the Simplii Financial Cash Back Visa Card once a year. Your earnings will be applied to your January credit statement.
How to apply for the Simplii Financial Cash Back Visa Card
After careful consideration, if you’re still intrigued by the Simplii Financial Cash Back Visa Card, here’s a step-by-step guide to the application process:
- Click the Apply Now button to be redirected to Simplii Financial’s official website.
- From the website’s drop-down menu, select “Credit Card” then “Cash Back Visa.”
- You’ll then be redirected to the Simply Financial Cash Back Visa page where you can review the card’s details directly from the source.
- Once you’ve done a thorough review, hit the green “Apply now” button, this will take you through the application process.
- You’ll first need to accept an overview of the card's rates and fees.
- Afterwards, you’ll be asked to fill in your personal and financial information (name, birthdate, income).
- Finally, you’ll need to agree to the card’s terms before submitting the application.
Benefits and Perks
4 Benefits of the Simplii Financial Cash Back Visa Card
Before we go any further, let’s review the Simplii Financial Cash Back Visa Card’s benefits.
The no-fee Simplii Financial Cash Back Visa Card will keep you well fed with its high cashback earn rate on eligible dining purchases, landing it a spot on our list of best dining credit cards in Canada. That’s right, with this card, the more you eat, the more you earn (until you meet this category's annual cap, of course).
The fact that this card has some great rewards and no annual fee is definitely a strong selling point – one that doesn’t come with a price tag. In fact, the Simplii Financial Cash Back Visa Card is considered one of the best no-fee credit cards in Canada.
Sometimes, when a no-fee card is equipped with high rewards, it also requires a high income. With the Simplii Financial Cash Back Visa Card, this simply isn’t the case. This Visa card only requires a low household income of $15,000 for a successful application.
Currently, the Simplii Financial Cash Back Visa Card is offering bonus cash back for your first few months of membership on eligible gas, groceries, drugstore purchases, and pre-authorized payments. Note that these elevated earnings are subject to a spending cap.
Drawbacks and Considerations
4 Downsides of the Simplii Financial Cash Back Visa Card
Of course, every card will also have their drawbacks. Here are some downsides of the Simplii Financial Cash Back Visa Card.
As for insurance and benefits, the Simplii Financial Cash Back Visa Card only offers purchase protection and extended warranty coverage. Although you can’t expect too much in terms of perks when it comes to no-fee credit cards, there are some other contenders that could satisfy these categories a bit more than the Simplii Financial Cash Back Visa Card (we’ll cover these options later on).
While the high-earning categories are enticing, the base cash back earn rate for this card is less appealing and considered lower by comparison to other credit cards on the market. However, you could always remedy the situation by supplementing the Simplii Financial Cash Back Visa Card with another no-fee card that satisfies its uncovered or less-covered categories.
Always keep your eye on those annual caps on the Simplii Financial Cash Back Visa Card's high-earning categories. Average spenders should find that the caps will last them a while, but once you run out, bear in mind that the corresponding category will then be subject to the low base rate.
When you’re earning high rewards (specifically on dining purchases in this case) it can make you eager to redeem this new revenue. That said, the Simplii Financial Cash Back Visa Card only allows you to collect your rewards for redemption once a year, which might be frustrating for some spenders.
Compare to Similar Cards
Comparison to Other No-Fee Cashback Dining Credit Cards
To help you decide whether the Simplii Financial Cash Back Visa Card is the best no-fee cashback dining credit card for you, we’ve compared it against other no-cost cashback cards that will also earn you high rewards in similar categories. You might even find that some of these competitors compensate for certain categories where the Simplii Financial Cash Back Visa Card falls short.
Simplii Financial™
4.3
Neo Financial
3.5
Tangerine
4.4
Annual Fee
$0
$0
$0
$0
Interest Rates
Purchase
20.99%*
Cash advance
22.99%*
Balance transfer
22.99%*
Rate details
Purchase
19.99% - 29.99%
19.99% - 23.99%
Cash advance
22.99% - 31.99%
Balance transfer
22.99% - 31.99%
Purchase
20.95%*
Cash advance
22.95%*
Balance transfer
22.95%*
Rate details
Purchase
20.75%
Cash advance
22.49%
Balance transfer
22.49%
Welcome Bonus
20% cashback† up to $500 in spending
—
10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months
—
Rewards
$438.18
First year rewards
0.5% - 2%
$382.86
First year rewards
$349.91
First year rewards
on Simplii Financial™'s website
on Neo Financial's website
on Tangerine's website
Welcome Bonus Details
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
Simplii Financial Cash Back Visa Card vs Neo World Mastercard – Shop & Dine
The Neo World Mastercard – Shop & Dine doesn't earn quite as much cash back on dining, but it also optimizes shopping, which is rare for a Canadian credit card. Cardholders also have the opportunity to earn additional cash back when they shop at Neo partners. Note, however, that the income requirements for this card are higher.
Verdict: The Neo World Mastercard – Shop & Dine is best for those who want to optimize shopping on top of dining and those who purchase from Neo partners.
Simplii Financial Cash Back Visa Card vs Tangerine Money-Back Mastercard
The Tangerine Money-Back Mastercard allows you to select two earn categories out of the 13 offered by Tangerine, plus a third when you deposit your earnings into a Tangerine Savings Account. You can select restaurant purchases as a category, which makes this card competitive against the Simplii Financial Cash Back Visa Card, however, the Simplii Card earns more cash back overall. That said, the Tangerine Money-Back Mastercard could earn you more cash back in other categories and it comes with a lower annual income requirement.
Verdict: The Tangerine Money-Back Mastercard doesn't earn as much cash back on dining, but it could yield more cash back on gas, grocery, drug store, and recurring bill payments.
Simplii Financial Cash Back Visa Card vs CIBC Costco Mastercard
Costco shoppers will be pleased to learn that the CIBC Costco Mastercard earns almost as much cash back on restaurant purchases as the Simplii Financial Cash Back Visa Card. This contender also collects better returns on gas and Costco.ca purchases. Even the base rate on this card is superior. On top of extended warranty and purchase protection insurance, this competitor also boasts mobile device insurance.
Verdict: The CIBC Costco Mastercard offers Costco members almost as much cash back on dining as the Simplii Financial Cash Back Visa Card, plus better optimization on other categories and more coverage.
Frequently Asked Questions
With a cashback Visa credit card, you can earn a percentage of your purchase back when you tap, swipe or insert your card for purchases in reward-earning categories. For example, if you have a Visa cashback credit card that comes with cashback rates on dining out, you can earn money back whenever you go out to eat at an eligible restaurant.
You no longer need to have a Simplii Financial bank account to apply for the Simplii Financial Cash Back Visa Card. As long as you meet the card’s specified criteria, including income, residential, and age requirements, you can submit an application.
As a guideline, it’s recommended that you have a “very good” credit score for a successful Simplii Financial Cash Back Visa Card application. A “very good” credit score is a score of about 725.
About the author
Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
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Simplii Financial™ Cash Back Visa* Card
4.3
FinlyWealth Rating
on Simplii Financial™'s website
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Simplii Financial™ Cash Back Visa* Card Cash Back Calculatoron Simplii Financial™'s website