I took a quick look at Simplii Financial Cash Back Visa, but was quickly unimpressed. Since I have an excellent credit score (at least that’s what my free credit score from Borrowell says), I often take advantage of no-fee offers or waived-fee offers whenever possible.

Borrowell Free Credit Score - 825 is Excellent!

I figure it takes about 1 hour of my time to signup, get the bonus and decide whether or not to keep the card. So what is 1 hour of time worth? Well over time, and after 230,000 free Aeroplan miles, I don’t even bother unless the bonus is worth between $200 and $300. In this case, the offer is not even close.

 

Here Comes a Classic Bait & Switch

I am always in the market for a great credit card signup-bonus offer. Today, I signed into my Simplii bank account and saw a 10% cash-back offer on a Simplii Financial Cash Back Visa Card. What I REALLY did not appreciate was the way Simplii Financial get you excited for 10% cash back.

Simplii Financial Cash Back Visa Card - 10% offer

Then you click to “Learn More” and there is no mention of 10% cash back anymore.

Simplii Financial Cash Back Visa Card - Learn More

 

Digging Deeper on the Simplii Financial Cash Back Visa Card

Buried in the (initially hidden) Terms and Conditions is this Footnote (in a dark-grey font):

Simplii Financial Cash Back Visa Card-10% offer - Hidden-dark-fine-print

What a minute… so let me get this straight…

The compelling 10% offer is ONLY for Resturant & Bar purchases?

I barely do either over 4 months.

The extra 6% bonus is only for the first $500.

That amounts to a whopping $30 in bonus cash.

Alright, I guess that makes a total of $50 from 500 bucks in beer & wings, but come on!

 

My Verdict on the Simplii Financial Cash Back Visa Card

No thanks, Simplii Financial … NO THANKS!

The only thing this card has going for it is NO FEE … I’ll give you 1-star for that.

The fact that you misled me with a 10% offer and then tried to HIDE it … I almost want to remove that 1-star.

 

Looking for a Better Offer

Have you found a better offer lately? Let me know in the comments below.

If I find an awesome deal, want to know? Signup for my Finance email list below.

P.S. Another card I am currently considering is the Scotia Momentum Visa Infinite Card. They are offering 10% on ALL purchases and instead of a $30 max bonus, the max bonus is $200, now we’re talking!

 

Summary
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Simplii Financial Cash Back Visa
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