Simplii Financial™ Cash Back Visa* Card vs Amazon.ca Rewards Mastercard®: Which one is better?
Simplii Financial™ Cash Back Visa* Card
4.4
Amazon.ca Rewards Mastercard®
3.1
Finly Rebate
Finly Rebate
N/A
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.
Rewards Breakdown
Annual Rewards
$251.84
First Year Bonus
$150
Annual Fee
$0
First Year Value
$401.84
$251.84 in years after
Based on $2,000/mo average spending and assuming you are an Amazon Prime member as the primary account holder. Calculate your rewards.
Insurance Included*
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Insurance Included
Extended Warranty
Up to a year
Purchase Protection
90 days
Extra Benefits*
N/A
Extra Benefits
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car
Trip and legal Assistance
Yes
Interest Rates*
Purchase:
20.99%1
Cash Advance:
22.99%1
Balance Transfer:
22.99%1
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Annual Fee*
$0
Annual Fee
$0
Income Required*
Min Personal Income:
$15,000
Min Household Income:
$15,000
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
Earn up to 10% cash back† for your first 3 months up to $1,000 eligible spend.
Welcome Bonus
Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for up to 6 months. Up to $150 cashback on top of the normal cashback earned.
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†
Rewards Rate
- 2.5% cashback on Amazon.ca, Whole Foods and foreign currency transactions IF a prime member
- Only 1.5% on Amazon.ca and Whole foods and 1% on foreign currency transactions IF not a prime member
- 1% cashback on everything else
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.
Is this card worth it?
If you are a Prime member and want to maximize your cashback on your Amazon purchases, then this card is the best option for that specific purchase category. However, for other purchases, many other cards offer better benefits and rewards.
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.
Pros
- If you are a Prime member, the 2.5% cashback offered on Amazon purchases is unbeatable in terms of rewards compared to other credit cards.
- The 2.5% cashback on all foreign currency transactions helps to offset the extra 2.5% fee.
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.
Cons
- It offers very little on non-Amazon and non-Whole Foods purchases, with many other well-rounded credit cards out there that offer much more.
- Very limited benefits.
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