Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

Apply Now
Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

Apply Now

Simplii Financial™ Cash Back Visa* Card vs Scotia Momentum® Visa Infinite* Card: Which one is better?


Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

4.4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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

$407.15


First Year Bonus

$200


Annual Fee

$120


First Year Value

$607.15

$287.15 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

    1 year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    48 days
  • heart lock

    Travel Accident

    $500,000
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • cancel airplane

    Trip Cancellation

    $1,500
  • pause

    Trip Interruption

    $2,000
  • hourglass timer

    Flight Delay

    $500

Extra Benefits*

N/A

Extra Benefits

  • car rental

    Car Rental Discount

    25% off base rate of Avis Rent A Car and Budget Rent A Car
  • exclusive

    Visa Infinite Exclusive Benefits

    Yes

Interest Rates*

Purchase:

20.99%1

Cash Advance:

22.99%1

Balance Transfer:

22.99%1

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Annual Fee*

$0

Annual Fee

$120

$0

First Year Waived

Income Required*

Min Personal Income:

$15,000

Min Household Income:

$15,000

Income Required

Min Personal Income:

$60,000

Min Household Income:

$100,000

Welcome Bonus*

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

Welcome Bonus

Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.

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

  • 4% cashback on groceries, recurring payments (maximum $1000 cashback per year)
  • 2% cashback on gas, daily transit (maximum $500 cashback per year)
  • 1% cashback on all other credit card purchases (unlimited).

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 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.

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

  • Highest Cashback rates on Groceries and Recurring purchases compared to other cashback credit cards.
  • High insurance coverage.
  • First year annual fee waived.

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

  • The base cashback rate (1%) is low for most high spent categories, especially after the first year when the card's annual fee kicks in.

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.

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