How to apply for Simplii Financial Cash Back Visa Card
Here’s a breakdown of how to apply for a Simplii Financial credit card in Canada:
Eligibility Requirements
Before you begin, make sure you meet the basic requirements:
- Household income: Minimum of $15,000 annually.
- Residency: Canadian resident (excluding Quebec).
- Age: Age of majority in your province/territory.
- Credit history: No bankruptcy within the past 7 years.
Steps to Apply
- Choose your card: Simplii Financial offers a few credit cards. Their most popular is the Simplii Financial Cash Back Visa Card. You can compare it to their other offerings on Simplii Financial website.
- Apply online:
- Visit the Simplii Financial website and navigate to their credit card section.
- Select the card you are interested in and click “Apply Now”.
- The online application will request your:
- Personal information (name, address, social insurance number, etc.)
- Employment details
- Financial information
- Wait for approval Most applications are processed quickly, and you might get an instant decision. In some cases, it might take a few days.
- Receive and activate your card. If approved, you’ll receive your card in the mail. Activate it according to the included instructions.
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Frequently Asked Questions (FAQ)
Q: What is the minimum income required to apply for a Simplii Financial credit card?
A: Applicants must have a household income of at least $15,000 annually.
Q: Can non-Canadian residents apply for this card?
A: No, applicants must be Canadian residents, excluding those residing in Quebec.
Q: Is there a minimum credit score requirement?
A: Simplii does not publicly disclose a minimum credit score, but a good score of 660 or higher improves approval chances.
Q: How long does the approval process take?
A: Many applications receive instant approval, but some may take a few business days for review.
Q: Can I apply for the card if I have filed for bankruptcy in the past?
A: Simplii requires no bankruptcy within the past 7 years for eligibility.
Q: How do I activate my Simplii Financial credit card once I receive it?
A: Activation instructions are provided with the card, and you can typically activate it online or by phone.
Q: Does Simplii Financial charge an annual fee for their credit cards?
A: No, Simplii’s Cash Back Visa Card does not have an annual fee.
How to Get Approved for a Simplii Credit Card?
- Strong Credit History: Maintain good credit habits – pay bills on time and keep credit utilization low.
- Sufficient Income: Demonstrate the ability to repay your debts.
- Address Your Debts: Before applying, pay down existing balances as much as possible.
- Minimum Credit Score: Simplii doesn’t publicly disclose a minimum credit score. Like most institutions, they look at your whole credit profile. A good credit score (660 or higher) will significantly improve your chances of approval.
Conclusion
The Simplii Financial credit card offers a straightforward and accessible way for Canadians to earn cashback rewards with no annual fees. Its easy online application process, combined with competitive rewards, makes it a strong contender for everyday spenders and those looking to build or rebuild their credit history. However, applicants should ensure they meet the eligibility requirements and maintain good financial habits to improve their chances of approval. Overall, Simplii Financial’s credit cards provide a practical, no-fuss solution for Canadians seeking convenience and value in their credit options.
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