Rogers Red World Elite vs Simplii Financial Visa Card

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Rogers Red World Elite® Mastercard® vs Simplii Financial™ Cash Back Visa* Card: Which one is better?

Rogers Red World Elite® Mastercard®

4.8

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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Simplii Financial™ Cash Back Visa* Card

4.4

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Finly Rebate

$50 Cash Rebate from FinlyWealth

Finly Rebate

$75 Cash Rebate from FinlyWealth

Rewards Breakdown

Annual Rewards

$720

First Year Bonus

Annual Fee

First Year Value

$720

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

First Year Value

$431.74

$346.79 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included*

Extended Warranty

1 year

Purchase Protection

90 days

Car Rental Damage & Theft

31 days, $65,000 car MSRP

Emergency Out of province Medical

$1M, Up to 10 days

Emergency Medical Over 65

$1M, Up to 3 days

Trip Cancellation

$1,000/person, $5,000 maximum

Trip Interruption

$1,000/person, $5,000 maximum

Insurance Included*

Extended Warranty

Up to 1 year

Purchase Protection

Up to 90 days

Extra Benefits*

Airport Lounge - Dragon Pass

Pass only, complimentary visits not included

No Cost roaming

5 days

Extra Benefits*

N/A

Interest Rates*

Purchase:

20.99% - 25.99%¹

Cash Advance:

22.99% - 27.99%¹

Balance Transfer:

22.99% - 27.99%¹

Interest Rates*

Purchase:

20.99%²

Cash Advance:

22.99%²

Balance Transfer:

22.99%²

Annual Fee*

Income Required*

Min Personal Income:

$80,000

Min Household Income:

$150,000

Income Required*

Min Personal Income:

$15,000

Min Household Income:

$15,000

Welcome Bonus*

N/A

Welcome Bonus*

Earn up to 10% cash back† for your first 3 months up to $1,000 eligible spend.

Rewards Rate*

3% cash back on all U.S dollar purchases
2% cash back on all regular purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
1.5% cash back on all purchases if you do not have 1 qualifying 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 the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!

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 the Best Cash Back Card in Canada for Rogers, Fido and Shaw customers by FinlyWealth.
Voted the Best No Annual Fee Credit Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many favorable benefits for travelers.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing your 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

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.

Cons