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Walmart Rewards™ Mastercard® vs Simplii Financial™ Cash Back Visa* Card: Which one is better?
Walmart Rewards™ Mastercard®
1.7
Simplii Financial™ Cash Back Visa* Card
4.4
Finly Rebate
N/A
Finly Rebate
Rewards Breakdown
Annual Rewards
$242.9
First Year Bonus Value
$45
Annual Fee
$0
First Year Value
$287.9
$242.9 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$346.79
First Year Bonus Value
$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.
Insurance Included
Purchase Protection
90 days
Insurance Included*
Purchase Protection
Up to 90 days
Extended Warranty
Up to 1 year
Extra Benefits
N/A
Extra Benefits*
N/A
Interest Rates
Purchase:
20.89% - 26.99%
Cash Advance:
22.97% - 27.99%
Interest Rates*
Purchase:
20.99%2
Cash Advance:
22.99%2
Balance Transfer:
22.99%2
Annual Fee
$0
Annual Fee*
$0
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
$15,000
Min Household Income:
$15,000
Welcome Bonus
$45 on Approval
Welcome Bonus*
Earn up to 10% cash back† for your first 3 months up to $1,000 eligible spend.
Rewards Rate
- 1.25% cashback on Walmart store and Walmart.ca purchases
- 1% cashback on all credit card purchases.
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†
Is this card worth it?
The Walmart Rewards Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It offers 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores and the ability to pay in installments. Additionally, you can earn up to $45 in Walmart Reward Dollars when you sign up. However, the rewards can only be redeemed at Walmart, and the card lacks additional benefits or insurance coverage beyond purchase assurance and extended warranty.
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.
Pros
- Installment Payments: Allows you to pay for Walmart purchases in installments over six months.
- Walmart Rewards: Earn 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores.
- Sign-Up Bonus: Get up to $45 in Walmart Reward Dollars when you sign up.
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.
Cons
- Limited Redemption: Rewards can only be redeemed at Walmart and Walmart.ca.
- Lower Rewards: Offers lower rewards compared to other store and cashback credit cards.
- Minimal Benefits: No additional benefits or insurance coverage aside from purchase assurance and extended warranty.
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.
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Legal
*This offer is not available for residents of Quebec. Check here for full details and current product information.
2 “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.