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How to Apply Simplii Financial Cash Back Visa Card
In the modern world, where we often enjoy eating out and trying different types of food, cash back credit cards have caught our attention. These special cards give us money back when we use them to pay for things. In this article, we’ll take a closer look at the cash back credit card from Simplii Financial. But first, let’s take a look at who’s behind Simplii Financial Cash Back Visa Card.
Simplii Financial background and profile
The Canadian Imperial Bank of Commerce, often called CIBC, is the main company that oversees the online bank in Canada called Simplii Financial.
This online bank used to be called President’s Choice Financial and changed its name to Simplii in 2017.
It offers people easy options for checking and savings accounts, as well as things like mortgages, loans, and ways to invest their money.
Even if you’ve never visited a physical bank branch, you can still handle your accounts with Simplii. That’s because being a digital enterprise, they don’t have any actual physical locations (branches) or buildings you can go to. Instead, they have a website for online banking and a mobile app you can use for all that you need in regard to your banking.
Benefits of Simplii Financial Cash Back Visa Card
When we evaluate how good a credit card is, there are three main things to consider:
- Annual Fee: This is the money you pay each year to have and use the credit card.
- Rewards and Cash Back: These are the good things you get for using the credit card to buy things in your daily life.
- Sign-Up Bonus: This is a special gift you get when you first get the credit card. It’s like a welcome present.
The Simplii Financial Cash Back Visa Card stands out as one of the best choices in the Canadian credit card market because it does really well in all three important areas.
No Annual Fee
One thing that makes the Simplii Financial Cash Back Visa Card really special is that it doesn’t charge you any money as an annual fee. While many other fancy cashback credit cards in Canada may charge a certain amount of money every year, this card lets you enjoy all its good things without you having to pay annoying fees.
Generous Cash Back Rewards
The Simplii Financial Cash Back Visa Card offers some of the most attractive cash back rewards compared to other choices in Canada. Specifically, when you use it at restaurants or bars, you get an impressive 4% cash back for every dollar you spend.
This means that if you spend money during a night out, you’ll immediately get back four dollars for every hundred dollars you spend. While 4% might not sound like a lot initially, it’s actually the best cash back rate you can get from a Canadian credit card that doesn’t charge an annual fee.
Exciting Welcome Bonus
When you start using the Simply Financial Cash Back Visa Card, you can get a really attractive deal. For the first four months or until you’ve spent $500, whichever happens sooner, you’ll earn a fantastic 10% cash back. This means you can get a lot of money back from your initial purchases.
Family and friends signup bonus
You will receive $125 each time a friend uses your unique referral link to open a qualifying account, such as a no-fee checking account or another eligible account. Spread the word by sharing your link with others, and each of your friends will also receive $50.
Transferring Money to Other Countries
When you send a Global Money Transfer using your Visa* Card as the payment method, you have the opportunity to earn cash back. You won’t have to pay any additional money if you pay off your debt by the due date, nor will there be any costs associated with the transaction itself.
Safe Shopping
Thanks to chip and pin technology, you can shop with complete peace of mind. In the event that your credit card is used in a manner that is out of the ordinary, you will be notified immediately by email, text message, and phone.
How to obtain the Simplii Financial Cash Back Visa Card
This card requires an annual income of at least $15,000 in order to qualify for eligibility. Having said that, it is absolutely essential to keep in mind that the yearly interest rate is 19.99%. This serves as a gentle push to practice responsible spending.
The interest rate will increase to 22.99% if you acquire a cash advance, make use of convenience checks, or transfer your balance. This demonstrates how crucial it is to use sound judgment when it comes to managing your money. Below are the main points to consider when making your decision if this card is suitable for you:
- The minimum annual income required for your household is $15,000.
- You live in Canada (any province or territory other than Quebec).
- You are now considered an adult according to the legal standards of your state, province, or territory.
- You have not filed for bankruptcy in the past seven years.
How to contact Simplii Financial
Even though Simplii Financial does not have any physical servicing locations, the following is their address in case you need to ship anything to them:
The Simplii Financial Company
Box 603, Station Agincourt (P.O. Box 603)
Ontario, Scarborough M1S 5K9
Website
Email: [email protected]
Helpline: 1-888-723-8881
Our Opinion
The Simplii Financial Cash Back Visa Card really shines when it comes to eating out. It’s designed for Millennials and people who like trying eating out at cafés and restaurants, socializing and trying new foods, so if you feel that you belong to this category of people, then go for it with no regrets. The card’s iconic and standout feature is that you get 4% of your money back when you spend at restaurants. It’s important to use cards like this wisely and responsibly, but it’s also true that if you plan your budget well and spend thoughtfully, you can really take advantage of the cash back rewards. As we go through our busy lives, having the right credit card can actually help us reach our financial goals in a smart way.
