Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026

Simplii Financial (CIBC)$0 Annual FeeCash Back

Simplii Financial Cash Back Visa Card

Our take: strongest for dining — about 4% back in value (est.) with no annual fee, plus a welcome bonus we value at roughly $100.

#1 Students #8 No annual fee #6 Restaurants

Welcome offer: referenced by Simplii but exact terms weren’t published in the materials we reviewed — confirm the current offer on Simplii’s site before applying

Apply on Simplii’s site →

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Our review

The Simplii Financial™ Cash Back Visa* Card is a no-fee credit card issued by Simplii Financial, the digital banking arm of CIBC. There’s no annual fee for the primary card or up to three additional cardholders, and it earns 4% cash back on dining and bars, 1.5% on gas, groceries, drugstores and pre-authorized payments, and 0.5% on everything else. It’s a straightforward pick for everyday spending if you don’t want to think about points or redemption — but the once-a-year cash back payout and category caps are worth understanding before you apply.

3.8out of 5

MoneyMint rating

#8 of 34 no-fee rewards cards · How we rate

Rewards value

3/10

Insurance

4/10

Flexibility

10/10

Welcome bonus

1/10

Fee value

10/10

Perks

0/10

≈ $355

estimated first-year value after the annual fee, on a typical $2,050/month budget. Points are converted to dollars using MoneyMint’s own valuations — see our points value calculator for how each program is valued. See it for your spending →

At a Glance

Annual Fee

$0Primary + up to 3 additional cardholders

Top Rewards Rate

4% cash backDining & bars, capped at $5,000/yr

Welcome Bonus

Not confirmedCheck simplii.com for the current offer

Rewards

~4%on dining (est. value)

Foreign Transaction Fee

2.5%Standard for a no-fee card

Purchase APR 21.99% · Cash Advance APR 22.99%

Pros & Cons

Pros

Genuinely no annual fee — for the primary card and up to three additional cardholders
Strong 4% cash back on dining/bars and 1.5% on gas, groceries and drugstores for a $0-fee card
Purchase Security & Extended Protection insurance included, which is uncommon on no-fee cards
Uncapped 0.5% cash back on all other spending
Simple, automatic cash back — no point transfers or manual redemption

Cons

Cash back is only paid out once a year, as a credit on the following January statement
4% and 1.5% categories are capped at $5,000 and $15,000 in annual spend; everything above earns just 0.5%
2.5% foreign transaction fee with no rebate
Not available to residents of Quebec
No travel medical, trip cancellation, or car rental insurance — purchase protection is the only coverage included

Rewards & Earn Rates

Dining & bars4% cash backUp to $5,000 in net purchases per year, then 0.5%

Gas, groceries, drugstores & pre-authorized payments1.5% cash backUp to $15,000 in net purchases per year, then 0.5%

Everything else0.5% cash backNo limit

Cash back payoutOnce a yearApplied as a statement credit on the following January statement

Annual caps reset each year after your December statement. If you regularly spend more than $5,000/yr on dining or $15,000/yr on gas, groceries and drugstores, the amount above those caps drops to the base 0.5% rate for the rest of the year.

Perks & Benefits

Purchase Security & Extended ProtectionIncluded90 days purchase protection, plus up to 1 extra year of warranty coverage; $60,000 lifetime max per cardholder, underwritten by Belair Insurance

Additional cardholdersUp to 3, freeIndividually adjustable spending limits

Click to Pay & mobile walletIncludedFaster checkout online and in-store

Fraud alertsIncludedReal-time email, SMS and phone notifications

Cash advancesUp to $1,000/dayAt any CIBC ATM; interest accrues immediately, plus a $5 fee

Who It’s For

The Simplii Cash Back Visa is a solid fit for everyday spenders who eat out somewhat regularly, want a genuinely fee-free card, and don’t want to manage points, transfers, or redemption thresholds. It’s also a reasonable choice for anyone who wants a free additional card for a spouse or family member with its own spending limit.

It’s a weaker fit if you want your rewards available right away (cash back isn’t credited until the following January), if you live in Quebec (the card isn’t offered there), if you rely on built-in travel insurance, or if you consistently spend well beyond the $5,000 dining or $15,000 gas/grocery/drugstore caps — a card with higher or uncapped premium-category rewards may earn you more overall, even with an annual fee.

Not Sure? Three Cards People Compare It With

All cash back cards →

Rogers Red World Elite Mastercard

Pick this instead if travel insurance matters more to you.

Fee $0Rating 4.8 ★

Read review

RBC Cash Back Preferred World Elite Mastercard

Pick this instead if you want a bigger welcome bonus (~$300 est.).

Fee $120Rating 4.1 ★Bonus $300

Read review

CIBC Aeroplan Visa Card

Pick this instead if you want a bigger welcome bonus (~$200 est.).

Fee $0Rating 4.2 ★Bonus $200

Read review

Frequently Asked Questions

Does the Simplii Financial Cash Back Visa Card have an annual fee?

No — it’s a $0 annual fee card for the primary cardholder and up to 3 additional authorized users.

How much cash back does the Simplii Cash Back Visa Card earn?

4% cash back on restaurants and bars, up to $5,000 in eligible annual spend; 1.5% on gas, groceries, drugstore purchases, and pre-authorized payments, up to $15,000 in eligible annual spend; and 0.5% on everything else, with no cap.

How is cash back paid out on the Simplii Cash Back Visa Card?

Cash back accumulates monthly from January through December and is redeemed as a single credit applied to your following January statement — it isn’t available on demand or credited monthly, which is worth knowing if you’re used to more frequent payouts.

What is the welcome bonus on the Simplii Cash Back Visa Card?

Up to $100 cash back within the first 3 months. Always confirm the current offer directly on simplii.com, since welcome offers change.

Does the Simplii Cash Back Visa Card charge foreign transaction fees?

Yes — 2.5% on foreign currency transactions, in line with most Canadian-issued cards.