Simplii Financial Cash Back Visa

Issued by CIBC through Simplii Financial, this Visa card offers up to 4% cashback on eligible purchases and includes features that suit both everyday users and value-driven consumers. With no annual fee, competitive reward rates, and easy online access, it’s an ideal choice for Canadians looking to make their money go further.

Key Features of Simplii Financial

• Formerly known as PC Financial: Simplii Financial has evolved from its previous identity as PC Financial, building on its legacy of providing innovative financial solutions to its customers.
• No Fee Checking Account: One of the standout features of Simplii Financial is its no-fee checking account, which allows customers to manage their day-to-day finances without worrying about extra charges.
• High Interest Savings Account: For those looking to grow their savings, Simplii Financial offers a high-interest savings account that helps customers maximize their returns on deposited funds.
• Cash Back Credit Card: Along with banking services, Simplii Financial also provides a cash-back credit card that rewards customers for their everyday purchases, offering them the opportunity to earn money while spending.
• Mortgage Options: Whether you are a first-time homebuyer or looking to refinance your existing mortgage, Simplii Financial offers a range of mortgage options to suit your needs, providing competitive rates and flexible terms.

Disadvantages to Keep in Mind

While generous, the elevated cash-back rates are capped and reset annually. After hitting category limits, all purchases earn only 0.5% cash back until the next year cycle begins. The card lacks standard travel perks such as lounge access or travel insurance, and there’s no mobile device coverage included—even though some competitors offer those features.

Why Choose the Simplii Financial Cash Back Visa?

If you’re looking for straightforward cashback without the hassle of tiers, points, or monthly fees, the Simplii Financial Cash Back Visa delivers. With solid reward rates on common spending categories and the backing of a major Canadian bank, it’s a smart, no-fuss option for Canadians who value efficiency and savings.

Who Should Consider This Card?

The Simplii Cash Back Visa is best suited for casual but frequent spenders—especially those dining out, buying coffee or meals—looking to earn meaningful rewards on essential expenses. It’s also a practical choice for newcomers establishing credit in Canada or consumers who prefer a straightforward rewards system with no fees.

Final Thoughts

The Simplii Financial Cash Back Visa Card is a top pick in Canada for restaurant-goers, coffee lovers, and everyday shoppers seeking a robust rewards card with no annual fees. With its strong earn rates and easy setup—even for newcomers—it offers genuine value. Just note that the rewards caps and lack of premium perks may limit its appeal for heavy spenders or those seeking more luxury features.