16 Jan
Maximizing Rewards with Simplii Cashback Review
January 16, 2024
When it comes to cashback programs in the world of online banking, Simplii Financial (formerly PC Financial) stands out as a top choice. With their innovative cashback program, customers can earn rewards on their everyday purchases, allowing them to maximize their rewards while enjoying the convenience of online banking.
What sets Simplii Financial apart is their commitment to customer satisfaction. They understand the importance of providing a seamless online banking experience while also rewarding their customers for their loyalty. This cashback program is designed to deliver value and convenience, making it an attractive option for individuals who want to make the most of their everyday spending.
Whether you’re buying groceries, dining at a restaurant, or filling up your gas tank, every purchase can contribute to earning cash back rewards with Simplii Financial. With no annual fee and a range of earning potential, this program is worth considering for anyone looking to maximize their rewards and take advantage of the benefits of online banking.
Key Takeaways:
- Simplii Financial offers a cashback program for their customers.
- Earn rewards on everyday purchases with no annual fee.
- Maximize your rewards by taking advantage of online banking.
- Seamless and convenient cashback program.
- Enjoy the benefits of earning cashback on groceries, dining, and more.
Features of the Simplii Financial Cash Back Visa
The Simplii Financial Cash Back Visa offers a variety of features that make it an appealing choice for customers. With no annual fee and a welcome offer of 10% cash back on restaurants, food delivery, and bar purchases for the first four months, this credit card provides immediate value. Additionally, customers have the opportunity to earn cash back at different rates on various spending categories, such as restaurants, bars, coffee shops, gas, groceries, and pre-authorized payments.
One of the standout features of the Simplii Financial Cash Back Visa is its no annual fee structure. This means that customers can enjoy the benefits of cash back rewards without incurring any additional costs. Whether they are frequent diners, grocery shoppers, or gas station visitors, they can earn cash back on their everyday purchases, helping them save money and maximize their rewards.
The welcome offer of 10% cash back on restaurants, food delivery, and bar purchases for the first four months is an attractive incentive for new cardholders. It provides a significant boost to cash back earnings during the initial period, allowing customers to enjoy even greater rewards right from the start.
Furthermore, the ability to earn cash back at different rates on various spending categories ensures that customers can benefit from their everyday expenses. Whether they are grabbing a cup of coffee, filling up their car with gas, or buying groceries, every purchase can contribute to their cash back rewards.
Example: Cash Back Rates on Simplii Financial Cash Back Visa
| Spending Category | Cash Back Rate |
|---|---|
| Restaurants | 4% |
| Bars | 4% |
| Coffee Shops | 1.5% |
| Gas | 1.25% |
| Groceries | 0.5% |
| Pre-Authorized Payments | 0.25% |
As shown in the table above, customers can earn cash back at different rates, with higher cash back percentages allocated to spending categories like restaurants and bars. However, it’s important to note that cash back rates may vary over time, so always check the most up-to-date information on the Simplii Financial website.
With its range of features and the opportunity to earn cash back on everyday purchases, the Simplii Financial Cash Back Visa provides customers with a valuable rewards program without the burden of an annual fee.
Earning Potential and Redeeming Rewards
With the Simplii Financial Cash Back Visa, you have the opportunity to earn attractive cashback rewards on your everyday purchases. The earning potential varies depending on the spending category, allowing you to maximize your rewards based on your preferences and lifestyle.
When it comes to earning cashback rewards, Simplii Financial Cash Back Visa offers higher cash back rates for popular categories such as restaurants, bars, and coffee shops. By using your card for dining out, enjoying a night out, or grabbing your favorite cup of coffee, you can accumulate cash back quickly and effortlessly.
“Earn more cashback rewards at your favorite restaurants, bars, and coffee shops with Simplii Financial Cash Back Visa.”
You don’t have to worry about continuously tracking your rewards balance or redeeming rewards frequently. Simplii Financial makes it convenient for you by redeeming your cash back rewards once a year as a statement credit on your January statement. This not only simplifies the process but also provides you with a clear overview of your cash back earnings.
Earning potential and redeeming rewards has never been easier with the Simplii Financial Cash Back Visa. Start accumulating cash back rewards today and enjoy the benefits of effortless earning and hassle-free redemption.
Earning Potential by Spending Category
| Spending Category | Cash Back Rate |
|---|---|
| Restaurants | 3% |
| Bars | 3% |
| Coffee Shops | 3% |
| Gas | 1.5% |
| Groceries | 1.5% |
| Pre-authorized Payments | 1.25% |
Image: Illustration of hands holding money, representing the earning potential and redeeming rewards of the Simplii Financial Cash Back Visa.
Comparison to Other Cashback Credit Cards
When considering cashback credit cards, it’s important to compare the features and benefits to find the best fit for your financial needs. Let’s take a look at how the Simplii Financial Cash Back Visa stacks up against other popular options in the market.
Simplii Financial Cash Back Visa vs. Tangerine Money-Back Credit Card
The Simplii Financial Cash Back Visa offers higher cash back rates in certain categories compared to the Tangerine Money-Back Credit Card. While both cards provide cash back rewards, the Simplii card outshines the Tangerine card in terms of earning potential.
Simplii Financial Cash Back Visa vs. CIBC Dividend Visa Infinite
If you’re looking for a cashback credit card with no annual fee, the Simplii Financial Cash Back Visa is a great option to consider. Unlike the CIBC Dividend Visa Infinite, which comes with an annual fee, the Simplii card offers competitive cash back rates without any additional charges.
Simplii Financial Cash Back Visa vs. Neo Standard Mastercard
The Neo Standard Mastercard and the Simplii Financial Cash Back Visa share similarities in features and earning potential. Both cards offer the opportunity to earn cash back on various spending categories. However, overall benefits and rewards may vary, so it’s essential to review the specific terms and conditions of each card before making a decision.
| Simplii Financial Cash Back Visa | Tangerine Money-Back Credit Card | CIBC Dividend Visa Infinite | Neo Standard Mastercard | |
|---|---|---|---|---|
| No Annual Fee | ✅ | ✅ | ❌ | ✅ |
| High Cash Back Rates | ✅ | ❌ | ✅ | ✅ |
| Additional Benefits | ✅ | ✅ | ✅ | ✅ |
As shown in the table above, the Simplii Financial Cash Back Visa offers a compelling combination of no annual fee, high cash back rates, and additional benefits. However, the right credit card for you ultimately depends on your spending habits, financial goals, and individual preferences. Take the time to compare the features and benefits of each card to make an informed decision that suits your needs.
Interest Rates and Fees
When considering a credit card, it’s important to understand the interest rates and fees associated with it. The Simplii Financial Cash Back Visa offers competitive rates and a transparent fee structure to help you manage your finances effectively.
Interest Rates
The Simplii Financial Cash Back Visa comes with the following interest rates:
| Interest Rate | Description |
|---|---|
| Regular APR | 19.99% |
| Cash Advance APR | 22.99% |
| Balance Transfer APR | 22.99% |
With a regular APR of 19.99%, you can enjoy competitive rates on your everyday purchases. However, it’s important to note that cash advances and balance transfers have slightly higher APRs of 22.99%.
Fees
Along with the interest rates, the Simplii Financial Cash Back Visa has various fees that you should be aware of:
| Fee | Description |
|---|---|
| Cash Advance Fee | $4 for each cash advance |
| Balance Transfer Fee | 3% of the transfer amount or $7.50, whichever is greater |
| Foreign Transaction Fee | 2.5% of the Canadian dollar value of each foreign transaction |
| Other Miscellaneous Fees | Dependent on the specific transaction or service |
These fees allow Simplii Financial to provide you with the necessary services and support while maintaining competitive rates.
With a clear understanding of the interest rates and fees, you can make informed decisions about your financial choices. The Simplii Financial Cash Back Visa offers competitive rates and a transparent fee structure, ensuring you have a credit card that suits your needs.
Benefits and Perks
When it comes to protecting your purchases and having peace of mind, the Simplii Financial Cash Back Visa offers two valuable benefits: purchase security protection and extended warranty protection.
With purchase security protection, you can feel confident knowing that eligible items you purchase with the card are protected against loss, theft, or damage. Whether it’s a new smartphone, a piece of jewelry, or an electronic gadget, you can trust that your valuable purchases are safeguarded.
Additionally, the extended warranty protection provided by the Simplii Financial Cash Back Visa offers an extended coverage period beyond the manufacturer’s warranty. This means that if an eligible item you purchase with the card breaks down or requires repairs after the original warranty expires, you can rely on the extended warranty protection to provide coverage.
Both of these benefits are designed to give you added security and protection when using the Simplii Financial Cash Back Visa to make your purchases. Whether you’re buying something for yourself or a gift for a loved one, knowing that you have purchase security and extended warranty protection can provide invaluable peace of mind.
| Benefit | Description |
|---|---|
| Purchase Security Protection | Protects eligible purchases against loss, theft, or damage. |
| Extended Warranty Protection | Extends the coverage period beyond the manufacturer’s original warranty. |
With these benefits in your corner, you can shop with confidence and enjoy added protection for your purchases. Whether you’re buying a big-ticket item or everyday essentials, the Simplii Financial Cash Back Visa has you covered.
Pros and Cons of the Simplii Financial Cash Back Visa
When considering the Simplii Financial Cash Back Visa, it’s important to weigh the benefits and drawbacks of this credit card. Let’s take a closer look at what sets it apart.
The Pros:
- Cash Back Rewards: One of the major advantages of the Simplii Financial Cash Back Visa is the opportunity to earn cash back rewards on your everyday purchases. Whether you’re buying groceries, dining out, or fueling up your car, you can earn cash back on these transactions.
- No Annual Fee: The card comes with no annual fee, making it a cost-effective choice for those seeking a cash back credit card.
- Simplicity: Another advantage is the simplicity of the rewards program. With straightforward cash back percentages and no complex tiers or categories, this card offers a hassle-free experience.
The Cons:
- Limited Benefits: While the Simplii Financial Cash Back Visa provides cash back rewards, it doesn’t come with extensive additional benefits. This means there is limited insurance coverage compared to some other credit cards on the market.
- Annual Payout: The cash back earned with this card is paid out once a year as a statement credit on the January statement. While this can be a nice lump sum, it does mean you have to wait for your rewards.
Considering these pros and cons can help you determine if the Simplii Financial Cash Back Visa aligns with your spending habits and financial goals. It’s crucial to assess whether the benefits outweigh the limitations before making a decision.
Conclusion
The Simplii Financial Cash Back Visa is an excellent choice for customers who want to maximize their cashback rewards while enjoying the convenience of online banking. While it may not offer the highest cash back rates or extensive benefits compared to other cards on the market, its no annual fee policy and straightforward rewards program make it a compelling option.
By using the Simplii Financial Cash Back Visa, customers can earn cash back on their everyday purchases, such as dining out, filling up gas, or buying groceries. The ability to earn rewards on these essential expenses can significantly contribute to saving money in the long run.
In addition to its cashback rewards program, Simplii Financial offers a user-friendly online banking platform, providing customers with a seamless and efficient banking experience. With easy access to their accounts, customers can monitor their expenses, make payments, and redeem their earned cash back rewards effortlessly.
FAQ
What is the Simplii Financial Cash Back Visa?
The Simplii Financial Cash Back Visa is a credit card offered by Simplii Financial (formerly PC Financial) that allows customers to earn cash back rewards on their everyday purchases.
Does the Simplii Financial Cash Back Visa have an annual fee?
No, the Simplii Financial Cash Back Visa does not have an annual fee.
How can I earn cash back with the Simplii Financial Cash Back Visa?
Customers can earn cash back at different rates on various spending categories, such as restaurants, bars, coffee shops, gas, groceries, and pre-authorized payments.
How often are cash back rewards redeemed?
Cash back rewards are redeemed once a year as a statement credit on the January statement.
How does the Simplii Financial Cash Back Visa compare to other cashback credit cards?
When compared to other cashback credit cards, the Simplii Financial Cash Back Visa offers competitive cash back rates, no annual fee, and similar features.
What are the interest rates and fees for the Simplii Financial Cash Back Visa?
The regular APR is 19.99%, with a cash advance APR of 22.99% and a balance transfer APR of 22.99%. There are also various fees associated with the card, such as a cash advance fee, balance transfer fee, foreign transaction fee, and other miscellaneous fees.
What benefits and perks does the Simplii Financial Cash Back Visa offer?
The Simplii Financial Cash Back Visa provides purchase security protection and extended warranty protection, offering customers peace of mind when making eligible purchases.
What are the pros and cons of the Simplii Financial Cash Back Visa?
The pros of the Simplii Financial Cash Back Visa include the ability to earn cash back rewards, no annual fee, and a simple rewards program. The cons include limited insurance coverage and the cash back being paid out once a year as a statement credit.
Is the Simplii Financial Cash Back Visa a good choice for earning cash back rewards?
Yes, the Simplii Financial Cash Back Visa offers a straightforward cashback program and is a good choice for customers looking to maximize their rewards through online banking.
Source Links
- https://www.forbes.com/advisor/ca/credit-cards/reviews/simplii-financial-cash-back-visa-review/
- https://frugalflyer.ca/blog/card-review-simplii-financial-cashback-visa/
- https://www.greatcanadianrebates.ca/finance-tools/2022/04/25/simplii-financial-cash-back-visa-card-review/
