The Simplii Financial Visa Card has no yearly fees and offers cash back at favorable rates. It works like any other Visa card and can be used wherever that Visa cards are accepted for payment. The Simplii Financial Cash Back Visa Card could be a choice if you’re starting or want to upgrade to a more rewarding credit card. This article will discuss the features, advantages, and application process for the Simplii Financial Cash Back Visa Card.
Simplii cash back Visa Card: Everything you need to know
Simplii Financial, a part of the Canadian Bank of Montreal, offers the Simplii Financial Cash Back Visa Card as a credit card. This card offers several features and benefits that make it a good option for many customers. It is made for people who want to earn cash back on their regular purchases.
It provides a no-fee checking account, a high-interest savings account, mortgages, borrowing, and investment accounts in addition to its cashback Visa card. The Simplii Financial Visa Card stands out among other cashback credit cards in Canada because of its high promotional cashback, introductory interest rate, no annual fee, and free ATM access.
With up to 10% in promotional cashback and 9.99% introductory APR on purchases, the Simplii Visa card welcomes new customers. Still not persuaded to get the card? Let’s continue examining its features. The card also comes with extended protection insurance, purchase security, and travel medical insurance that lowers your credit card liability.
Features of Simplii financial credit card
The card type is a credit card; it offers cashback rewards for particular approved entries. Some of the key features of this card include the following: As a welcome bonus, you can receive 10% back on dining out for the first four months of using the card and up to $500 in purchases. Cash back rewards: This visa card provides one of the best cashback rates in Canada.
These include;4% cashback on your first $5,000 in purchases at bars, coffee shops, and restaurants per year. 1.5% return on your first $15,000 in the supermarket, drugstore, petrol, and pre-authorized payments each year. Every other purchase earns you 0.5% cashback. Even though the bonus categories have spending caps, if you limit the use of your card, they represent some of the finest no-fee cashback credit card rates out there. Some bonuses appear as statement credits.
International Money Transfer
With Simplii, you can send money internationally without paying extra fees and even gain cash back on your transactions. If your account is settled in whole and on time, you won’t be charged interest on the cash given to you. Additionally, you can make up to $300 on your first international money transfer. Other promotions allow you to earn up to 0.5% cash back when sending money abroad with this card.
A 21-day grace period with no interest is offered with the Simplii Visa card’s purchase interest rate of 19.99%. During your first three months as a member, you will receive a special interest rate of 9.99% on purchases. The Simplii Visa card, however, charges a 22.99% interest rate on cash advances, balance transfers, and convenience checks.Buy security and an extended warranty.
The warranty with the card doubles the original manufacturer’s warranty by up to one year and includes free purchase insurance for up to 90 days after the date of purchase. With no additional costs and no annual fee, you can add up to three more cardholders to your Simplii Visa card and earn cash back more quickly. Also, you can limit each authorized user’s spending to reduce your liabilities.
Security and insurance
The Simplii Visa card offers complete coverage for Extended Protection Insurance, Purchase Security, and Travel Medical Insurance. Simplii also offers real-time fraud alerts via phone, text, and email, which further aids in securing your Visa card. You can increase your profits by recommending your friends and family to Simplii. For each individual you recommend to Simplii who opens a checking, high-interest savings, or line of credit account with the bank, you will receive $125.
Also, you will receive a $500 incentive, and the client you referred will receive $100 for each recommendation you make to Simplii that successfully secures a mortgage with the bank. To earn rewards, all you have to do is share your exclusive referral link with your friends and family. You can refer as many friends as you like to Simplii because there is no restriction on how many people you can refer.
You must satisfy the following requirements to be a Simplii financial client: Have a minimum annual household income of $15,000. You have to be a resident of Canada. Have a Social Insurance number (optional). Have a high credit score. You must be at least 18 years old to apply. Have had no bankruptcies in the last 7 years.
If you match these criteria, you can phone in or submit an online application for the card. You’ll typically get a response to your application within a few minutes, and the procedure is quick and simple. If your application is accepted, you’ll have your card in the mail within a few days. Logging into your Simplii account is all that is required to apply for the card if you are already a Simplii Financial customer.
What are the benefits of Simplii cashback Visa card?
For consumers who want to get a lot of cash back on the little they charge on their credit card, this card is a great choice! Here are a few more justifications for using Simplii Visa. There isn’t an annual fee, so you can use the card and earn benefits without having to shell out money to keep the account active. Therefore, you won’t have to worry about getting enough money back at the end of the year to make a profit. This card is perfect for those with low monthly spending.
It has an easy application process and a modest yearly income requirement of $15,000. This low bar guarantees simple qualifying. It also provides excellent rewards! You receive a six-month introductory rate promotion in addition to a welcome bonus of 10% cash back for the first four months. Furthermore, this credit card offers fantastic returns on transactions. Although there are spending limits on these rewards, these percentages are still exceptionally high for a cashback credit card with no yearly fees.
How does cashback on a Simplii visa work?
On the final day of your December statement, all collected cash back is immediately redeemed, bringing your cashback amount back down to zero, and applied as a credit on your subsequent statement or, in specific cases, at another period that Simplii may permit.
Cashback rewards on credit cards are incentives given to cardholders who make purchases using their cards. Dollars or points can be used as cashback rewards, with points often redeemed on a website run by the card issuer. Rewards for cash back are calculated as a percentage.
Simplii Financial Cash Back Visa Card offers some very fantastic benefits that anyone can take advantage of, especially considering it has no annual fees. It has reasonable requirements, and obtaining a card is easy. This is a fantastic option for people who wish to receive cash back on their everyday purchases without paying an annual fee. The card has a high-interest rate; therefore, paying the balance in full each month is crucial to avoid paying interest fees. It’s a great card for students and people with limited income.