Simplii Financial™ Cash Back Visa* Card vs MBNA Rewards World Elite® Mastercard®: Which one is better?
Simplii Financial™ Cash Back Visa* Card
4.2
RECOMMENDED CREDIT SCORE*
MBNA Rewards World Elite® Mastercard®
4.7
RECOMMENDED CREDIT SCORE
Finly Rebate
Finly Rebate
N/A
Rewards Breakdown
Annual Rewards
$342.92
Welcome Bonus
$30
Annual Fee
$0
First Year Value
$372.92
$342.92 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$587.52
MBNA Rewards
Welcome Bonus
$300
MBNA Rewards
Annual Fee
$120
First Year Value
$767.52
$467.52 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Purchase Protection
Up to 90 days†
Extended Warranty
Up to 1 year†
Insurance Included
Purchase Protection
Up to 90 days†Extended Warranty
Up to 1 year†
Mobile Device Insurance
$1000.svg)
Car Rental Damage & Theft
31 days
Flight Delay
$500/person after 4 hours
Travel Accident
$1,000,000
Emergency Out of province Medical
$2M for 21 days
Lost or Stolen Baggage
$1000/person
Baggage Delay
$1000/person
Extra Benefits*
N/A
Extra Benefits
Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Trip and legal Assistance
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Concierge Services
Price Protection
$500/item, $1000/account per year
Interest Rates*
Purchase:
20.99%1
Cash Advance:
22.99%1
Interest Rates
Purchase:
19.99%
Cash Advance:
24.99%
Annual Fee*
$0
Annual Fee
$120
Income Required*
Min Personal Income:
N/A
Min Household Income:
$15,000
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
Welcome Bonus*
10% cash back on eligible restaurants, food delivery and bar purchases for the first 4 months, up to $500†.
Welcome Bonus
10,000 points for going Paperless. 20,000 points after spending $2,000 after 90 days of account opening
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
- 5 points on restaurant, grocery, digital media, membership, and household utility purchases (maximum $50,000 spend annually per category)
- 1 point for everything else
Loyalty Program*
N/A
Loyalty Program
Point Redemption Options*
Not Applicable
Point Redemption Options
Most Optimal
Travel
1¢ / point
Gift Cards
0.85¢ / point
Statement Credits - World Elite
0.83¢ / point
Merchandise
0.8¢ / pointStatement Credits - Platinum
0.5¢ / point
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?
The MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.
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
- Both restaurants and groceries, two of the most commonly spent categories, earn decent rewards.
- Great annual birthday bonus with up to $150 in value.
- A solid list of travel insurance and benefits.
- Price protection, a rare feature not offered by many other cards.
- Good value for many of the card's redemption options.
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
- Trip cancellation and interruption insurance, two great benefits are missing from this card.
- Not the best card for gas purchases.
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