Simplii Financial™ Cash Back Visa* Card vs PC World Elite Mastercard: Which one is better?
Simplii Financial™ Cash Back Visa* Card
4.4
PC World Elite Mastercard
2.3
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
$266
PC Financial
First Year Bonus
$20
PC Financial
Annual Fee
$0
First Year Value
$286
$266 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Extended Warranty
Up to 1 year
Purchase Protection
Up to 90 days
Insurance Included
Extended Warranty
Doubled up to a year
Purchase Protection
90 days
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Car Rental Damage & Theft
Up to 31 days
Emergency Out of province Medical
$1M, Up to 10 days
Extra Benefits*
N/A
Extra Benefits
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Concierge Services
Identity Theft Assistance
Interest Rates*
Purchase:
20.99%1
Cash Advance:
22.99%1
Balance Transfer:
22.99%1
Interest Rates
Purchase:
21.99%
Cash Advance:
22.97%
Annual Fee*
$0
Annual Fee
$0
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*
Earn up to 10% cash back† for your first 3 months up to $1,000 eligible spend.
Welcome Bonus
Earn 20,000 points when you get approved.
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
- 45 points per $1 dollar spent at Shoppers Drug Mart® stores
- 30 points per $1 dollar spent at Atlantic Superstore, Extra Foods, Fortinos, Loblaws, Maxi, Maxi & cie, no frills, Provigo, Real Canadian Superstore, SaveEasy, SuperValu, valu-mart, Your Independent Grocer, Zehrs
- 20 points per $1 spent in PC travel
- 19 points per $1 dollar spent at ESSO and Mobil (it's 30 points per liter and the assumption of average gas price of $1.6 was made)
- 10 points per $1 dollar spent for everything else
Loyalty Program*
N/A
Loyalty Program
Point Redemption Options*
Not Applicable
Point Redemption Options
Groceries
0.1¢ / point
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Gas (Esso)
0.1¢ / 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?
This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.
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
- Out-of-province medical insurance, concierge service, and car rental damage insurance—benefits that are usually included with cards that have fees—are included with this card.
- Decent rewards on purchases at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations.
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
- Many other high-spend categories don't earn as many rewards. Shopping at any other grocery chains, gas stations, or pharmacies will only give the base reward rate, and restaurant purchases and purchases in other categories don't earn much either.
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