Simplii Financial™ Cash Back Visa Card*

3.5

4% cash back at restaurants — highest dining rate on any no-fee card
1.5% cash back on groceries, gas, drugstores and pre-authorized payments
No annual fee — strong long-term value for regular diners
$15,000 household income requirement — widely accessible

At 4% cash back on dining, no no-annual-fee card in Canada earns more at restaurants. Pairs well for households where dining out is a regular line item and groceries are handled by a second card — the 1.5% rate on gas, drugstores and pre-authorized payments covers the rest of everyday spending cleanly.

Welcome bonus

Earn up to $100 cash back in your first 3 months when you spend up to $500 on eligible gas, grocery, and drugstore purchases, and pre-authorized payments.

worth approximately $100

~$100 first-year value

cad

Earn rates

Dining & food delivery4%

Groceries1.5%

Gas & EV charging1.5%

Drugstores1.5%

Recurring bills1.5%

Everything else0.5%

Estimate annual rewards

You'd earn ~$480/year

Key facts

Annual fee

$0 for primary cardholder and up to 3 additional cards.

Purchase APR

21.99%

Cash advance APR

22.99%

Foreign transaction fee

2.5%

Income required

$15,000

Credit score

600+

Quebec residents — terms may differ

This card is not available to residents of Quebec.

Verify current terms at issuer website →

Rates and fees sourced from Simplii Financial's official card page →

Perks & benefits

4% cash back at restaurants — highest dining rate on any no-fee card

1.5% cash back on groceries, gas, drugstores and pre-authorized payments

No annual fee — strong long-term value for regular diners

$15,000 household income requirement — widely accessible

Insurance coverage

Purchase security (90 days) and extended protection (1 year).

Pros & cons

Pros

4% restaurant rate is the highest available on a no-annual-fee card
1.5% on groceries, gas and drugstores covers most everyday spending
No annual fee keeps the card cost-neutral
Backed by CIBC — reliable banking infrastructure and fraud protection

Cons

4% dining rate capped at $5,000 spend per year — heavy diners hit this by July
1.5% bonus categories capped at $15,000 annually
0.5% base rate on everything else is low
Not available to Quebec residents

Eligibility requirements

Open only to Canadian residents who have reached the age of majority in their province of residence and have not held a Simplii Financial product as the primary account holder on or before March 1, 2025.

Frequently asked questions

Simplii Financial is CIBC's direct banking brand — a fully online bank with no branch network. It launched in 2017 when CIBC acquired PC Financial's banking operations. Your Simplii credit card is backed by CIBC's infrastructure including fraud protection and customer service.