Simplii Financial has one credit card: the Simplii Financial Cash Back Visa. It has no annual fee and earns 4% cash back at restaurants and bars on the first $5,000 a year, 1.5% on gas, groceries, drugstores and pre-authorized bills, and 0.5% on everything else. Here’s what it really earns, how the caps work, and who it suits.
Simplii Cash Back Visa calculatorEnter what you spend in a year to see how much cash back you’d get each January.
Your yearly spending
Cash back a year
paid on your January statement
Overall rate
on all your spending
Annual fee
$0
so it’s all yours
Where the cash back comes from
| Spending | You spend | Cash back |
|---|
The Simplii Cash Back Visa at a glance
| Feature | Details |
|---|---|
| Annual fee | $0, including up to 3 additional cards |
| Restaurants and bars | 4% on the first $5,000 a year |
| Gas, groceries, drugstores, pre-authorized bills | 1.5% on the first $15,000 a year, combined |
| Everything else | 0.5%, no limit |
| Cash back paid | Once a year, on your January statement |
| Income needed | $15,000 household |
| Purchase interest | 21.99% |
| Foreign transaction fee | 2.5% |
| Issued by | CIBC (Simplii is a division of CIBC) |
How the cash back works
The card earns three rates. Spending above each cap drops to 0.5% until the caps reset after your December statement.
| Category | Rate | Yearly cap | Most you can earn at the top rate |
|---|---|---|---|
| Restaurants and bars | 4% | $5,000 | $200 |
| Gas, groceries, drugstores, pre-authorized payments | 1.5% | $15,000 combined | $225 |
| Everything else | 0.5% | None | No limit |
What counts depends on how Visa classifies the merchant, not what you buy. The 4% applies to merchants classified as restaurants, bars, fast food and caterers. Simplii’s card page also mentions coffee shops, but its terms don’t list them, so a coffee shop earns 4% only if it’s classified as a restaurant or fast food merchant. The 1.5% covers gas stations, grocery stores, drugstores and pharmacies, plus recurring charges a merchant bills to your card automatically. If a purchase fits more than one category, you get the higher rate. Learn more about merchant category codes.
No cash back is paid on cash advances, balance transfers, convenience cheques, fees or interest.
When you get paid
Cash back builds up from your January statement to your December statement, then it’s credited to your account on your January statement. Your account must be open, in good standing and within its credit limit when it’s paid. If you want cash back every month, this isn’t the card for that.
Fees and interest rates
| Fee or rate | Amount |
|---|---|
| Annual fee | $0 |
| Purchases | 21.99% |
| Cash advances, balance transfers, convenience cheques | 22.99% |
| If you miss 2 payments in 12 months | Rates can rise to 24.99% (purchases) and 27.99% (cash) for at least 12 months |
| Foreign transaction fee | 2.5% |
| Cash advance fee | $5 |
| Over-limit fee | $29 |
| Returned payment | $45 |
You get at least 21 days without interest on new purchases if you pay your statement in full. See which balance to pay to avoid interest.
Compare it with other cash back cards
Try the cash back calculator →Insurance and extras
- Purchase security: covers most new purchases against theft or damage for 90 days, up to $60,000 in total.
- Extended warranty: doubles the manufacturer’s warranty, up to 1 extra year, when the warranty is honoured in Canada or the U.S.
- No travel insurance. There’s no travel medical, trip cancellation or rental car coverage.
- Mobile wallets: works with Apple Pay, Google Pay and Samsung Pay.
Who can apply
- Canadian citizens and permanent residents living in Canada, except Quebec.
- You’ve reached the age of majority in your province or territory.
- Household income of at least $15,000.
- No bankruptcy in the last 7 years.
Simplii vs other no-fee cash back cards
Here’s how the Simplii card compares with three other popular no-fee cards. For the full list, see our best no-fee credit cards.
| Card | Best rate | Everyday rate | Income needed |
|---|---|---|---|
| Simplii Cash Back Visa | 4% restaurants (first $5,000) | 0.5% | $15,000 household |
| Tangerine Money-Back | 2% in 2 categories you pick (3 with a Tangerine savings account) | 0.5% | $12,000 |
| CIBC Dividend Visa | 2% groceries | 0.5% | $15,000 household |
| Amex SimplyCash | 2% gas and groceries | 1.25% | Not published |
Who should get it
| You are… | Good fit? | Why |
|---|---|---|
| Eating out or ordering in at restaurants often | Yes | 4% on up to $5,000 a year, worth up to $200 |
| Building credit on a modest income | Yes | No fee and a $15,000 household income requirement |
| Wanting one card for everything | Not ideal | 0.5% on most purchases is low |
| Living in Quebec | No | Not offered in Quebec |
| Travelling or shopping in U.S. dollars | No | 2.5% foreign transaction fee and no travel insurance |
Frequently asked questions
Is the Simplii credit card good?
It’s a strong no-fee card if you eat out often: 4% back at restaurants and bars on up to $5,000 a year. Its 1.5% and 0.5% rates on other spending are modest, so it works best alongside another card.
Does Simplii Financial have a credit card?
Yes, one: the Simplii Financial Cash Back Visa. It has no annual fee and is issued by CIBC, since Simplii is a division of CIBC.
What is the annual fee for the Simplii credit card?
There’s no annual fee, for the main card or up to 3 additional cards.
What is the income requirement for the Simplii credit card?
Simplii requires a household income of at least $15,000. You also need to be a Canadian citizen or permanent resident living outside Quebec.
When does Simplii pay cash back?
Once a year. Cash back builds from your January to December statements and is credited on your January statement.
Does the Simplii credit card have foreign transaction fees?
Yes. It charges 2.5% on purchases in other currencies, and it doesn’t include travel insurance.
Does Simplii have a student credit card?
No. Simplii offers one credit card, the Cash Back Visa, and students can apply if they meet the requirements.
Related reading
- All credit card reviews: reviews and best-card shortlists
- Best no-fee credit cards: the shortlist
- Cash back calculator: compare cards with your spending
- Statement balance vs current balance: avoid interest
- Best grocery credit cards: if groceries are your biggest spend
- Is KOHO a credit card?: prepaid cards explained
- Brim credit card review: 1.5% foreign fee and 1¢ points
- Best credit cards for dining: restaurants and food delivery
How we checked: Fees, interest rates and eligibility come from Simplii’s card page, its Summary of Rates and Fees and its cardholder agreement. Cash back rates, caps, categories and payout timing come from the Benefits Guide, and insurance from the Certificate of Insurance. Details for the other no-fee cards come from our no-fee shortlist, checked against each issuer’s site. We left out welcome offers because they change often. This review is general information, not financial advice. Sources: Simplii Cash Back Visa; Summary of Rates and Fees (PDF); Benefits Guide (PDF); Certificate of Insurance (PDF); Cardholder Agreement (PDF); Simplii FAQ; Simplii mobile payments. Last checked October 2026.