Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

Apply Now
MBNA Rewards World Elite® Mastercard®

MBNA Rewards World Elite® Mastercard®

Apply Now

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


Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

4.2


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

MBNA Rewards World Elite® Mastercard®

MBNA Rewards World Elite® Mastercard®

4.7


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$346.79


First Year Bonus

$30


Annual Fee

$0


First Year Value

$376.79

$346.79 in years after

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

Rewards Breakdown

Annual Rewards

$597.84

MBNA Rewards


First Year Bonus

$300

MBNA Rewards


Annual Fee

$120


First Year Value

$777.84

$477.84 in years after

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

Insurance Included*

  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    Up to 90 days

Insurance Included

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    Up to 90 days

  • lost baggage

    Lost or Stolen Baggage

    $1000/person
  • hourglass timer

    Baggage Delay

    $1000/person
  • car insurance

    Car Rental Damage & Theft

    31 days
  • heart lock

    Travel Accident

    $1,000,000
  • mobile device insurance

    Mobile Device Insurance

    $1000
  • travel accident medical

    Emergency Out of province Medical

    $2M for 21 days
  • hourglass timer

    Flight Delay

    $500/person after 4 hours

Extra Benefits*

N/A

Extra Benefits

  • price protection

    Price Protection

    $500/item, $1000/account per year
  • car rental

    Car Rental Discount

    10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
  • gavel

    Trip and legal Assistance

  • birthday cake

    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)
  • concierge

    Concierge Services

Interest Rates*

Purchase:

20.99%1

Cash Advance:

22.99%1

Balance Transfer:

22.99%1

Interest Rates

Purchase:

19.99%

Cash Advance:

24.99%

Annual Fee*

$0

Annual Fee

$120

Income Required*

Min Personal Income:

$15,000

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 - plane

    Travel

    1¢ / point
  • gift card

    Gift Cards

    0.85¢ / point
  • cash coins

    Statement Credits (Cash) - World Elite

    0.83¢ / point
  • online shop

    Merchandise

    0.8¢ / point
  • cash coins

    Statement Credits (Cash) - 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.

Legal


*This offer is not available for residents of Quebec. Check here for full details and current product information.
1 “Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.

We may earn a commission for some of the products featured on this site. The content and reviews on FinlyWealth are independent and not influenced by advertisers. For the latest details on any product, please visit the advertiser's official website. The content provided on this website, including any credit card recommendations, is for informational and entertainment purposes only and does not constitute financial, legal, or tax advice. The owner and author(s) of this website are not financial, legal, or tax professionals. All views and opinions expressed herein are solely those of the author(s) and may not reflect the best choice for your unique situation. Always consult with a qualified professional before making any financial decisions. The owner and author(s) of this website shall not be held liable for any inaccuracies, errors, or omissions in the content or any resulting actions taken by readers.

Copyright © FinlyWealth 2024 All Rights Reserved.