Rogers Red Mastercard® vs Simplii Financial™ Cash Back Visa* Card: Which one is better?
Rogers Red Mastercard®
4.5
Simplii Financial™ Cash Back Visa* Card
4.4
Finly Rebate
Finly Rebate
Rewards Breakdown
Annual Rewards
$720
First Year Bonus
$90
Annual Fee
$0
First Year Value
$810
$720 in years after
Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$346.79
First Year Bonus
$84.95
Annual Fee
$0
First Year Value
$431.74
$346.79 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Balance Protection
Minimum payments
Insurance Included*
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Extra Benefits
No Cost roaming
5 days
Extra Benefits*
N/A
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Interest Rates*
Purchase:
20.99%2
Cash Advance:
22.99%2
Balance Transfer:
22.99%2
Annual Fee
$0
Annual Fee*
$0
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$15,000
Min Household Income:
$15,000
Welcome Bonus
$60 cash back when you make a mobile wallet purchase within the first 90 days and 6 automatic payments within the first 8 months for your Rogers, Fido or Shaw postpaid service ($90 if redeemed for Rogers, Fido or Shaw purchases).
Welcome Bonus*
Earn up to 10% cash back† for your first 3 months up to $1,000 eligible spend.
Rewards Rate
- 2% cashback on all purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
- 2% cashback on all U.S dollar purchases and 1% on all other eligible purchases if you do not have a qualifying Rogers, Fido or Shaw service
- 1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value
Rewards Rate*
- 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
- 0.5% cashback on all other purchases†
Is this card worth it?
This card is one of our top-ranked options in terms of rewards, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is a higher rate than almost any other card offers, even those with annual fees! If you have a high income of $80K or a household income of $150K, you can apply for the World Elite version of this card, which comes with additional insurance and benefits like a lounge pass.
Is this card worth it?
If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.
Pros
- Voted as the Best Cash Back Card in Canada for Rogers, Fido and Shaw Customers by FinlyWealth.
- There is no annual fee, a notable perk for a card with such high reward multipliers. Most cards with slightly lower reward rates typically have annual fees.
- Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing the value of your earned rewards.
- The roam-like benefit is a benefit unique only to this card.
- It is accepted at nearly all locations as it's a Mastercard.
Pros
- Highest cashback rate on restaurant purchases in Canada!
- Decent cashback rate on high spent categories such as groceries and gas.
- No annual fee for a card with great rewards.
Cons
- No real insurance coverage (only balance protection), not even purchase protection or extended warranty which are pretty standard benefits for almost all credit cards.
- Low rewards multiplier if you don't have an eligible Rogers, Shaw, or Fido service.
Cons
- No insurance and benefits other than the standard purchase protection and extended warranty.
- Cap on the rewards that can be earned on each category.
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