Simplii Financial Cash Back Visa Card

🎁 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

⭐ MoneyMint Rating: 3.4/5

MoneyMint Rating: 3.4/5 — based on our published rating criteria (rewards value, fees, flexibility, and eligibility transparency). Not sponsored by Simplii Financial.

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.

At a Glance

Annual Fee

$0Primary + up to 3 additional cardholders

Purchase APR

21.99%21-day grace period on purchases

Top Rewards Rate

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

Welcome Bonus

Not confirmedCheck simplii.com for the current offer

Cash Advance APR

22.99%No grace period, plus a $5 fee

Foreign Transaction Fee

2.5%Standard for a no-fee card

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.

Key Drawbacks to Know Before You Apply

Cash back is accumulated all year but only paid out once, as a single credit on your January statement the following year — not monthly and not on demand.
Simplii’s marketing materials reference a welcome offer (“+ welcome offer” in their rewards calculator) but we could not find its specific terms (bonus amount, spend requirement, or expiry) in any official document reviewed. Confirm the current offer directly on simplii.com before applying.
Simplii Financial credit cards are not available to residents of Quebec.
No published income or credit score eligibility requirement was found in the materials we reviewed.

This is general information, not personalized financial advice — consider your own spending habits and consult a professional for decisions specific to your situation. Rates, fees, and offers are set by Simplii Financial and can change without notice; always confirm current terms on the issuer’s official page before applying.

Simplii Financial Cash Back Visa Card Review