 Hello everyone, this is Amit Don and on this channel you'll find financial travel and more videos. If you like what you see, please do the thumbs up and consider subscribing. Thank you. Hello everyone, this is Amit Don of AmitDon.com. Today I'll have another episode of a trade card review video and I'll be reviewing the Simply Financial Cashback Visa Trade Card. The Simply Financial Cashback Visa Trade Card is a new trade card, so this trade card was just launched by Simply Financial. And I don't have this trade card and I'm not planning to apply for this trade card. So I'll be using the Simply Financial website to go through the features and benefits of this trade card. So let's start with our review on the Simply Financial Cashback Visa Trade Card. So we're looking at Simply Financial website. So the first thing you'll notice that they have a promotion going on. You will get 10% cashback for the first 4 months and you'll get 10% cashback at restaurant purchases. So basically, eat, drink. So anything in terms of eating out, you'll get 10% cashback. And after that, the regular rate is going to kick in which will be 4% cashback. So whenever you're applying for a trade card, look beyond the promotional offer. So the promotional offer is only for 4 months after that the regular 4% cashback, that's going to be your regular rate. So let's look here what other benefits we have here. So this is a no-animal fee trade card. There are no annual fees and the trade card is a cashback trade card. And let's take a look here. So here you're looking at the cashback rate for this trade card. So it has three different categories. The first one is the restaurant bar, coffee shop and takeout purchases where your arm rate is 4% and that's the highest arm rate. And then the second category is eligible gas, grocery, drugstore purchases and preauthorized payments. Up to $15,000 per year where you'll get 1.5%. And then everything else you're going to get 0.5% or half percent. So that's the reverse structure of this trade card. And then let's take a look here. So here's some of the other benefits. Check out faster online. So it looks like you can use the visa checkout to save time when you shop online and shop securely. Then this is about the security feature and pay with your phone. So coming soon, you'll be able to use your mobile wallet and pay with Apple pay Google pay or Samsung pay to pay with your phone. And the rates fees and eligibility. So annual fee is zero and additional cards zero annual fee as well. And then purchase interest rate is standard 19.99%. Cash interest rate is standard 22.99% and minimum annual household income record is $15,000, which is very low. Okay, so let's take a look here. So the coverage we have here is purchase security and extended protection insurance, which is included with this great card. You'll get another additional year after the manufacturer's warranty. So again, this is the standard for most great cards. And then the two other insurance benefits actually they're optionally able to pay for these. One of them is the CIPC payment factor protector insurance for great cards. And then other one is emergency travel medical insurance. So when you click on, when you go to the CIPC emergency travel medical insurance, I checked it already. And I saw that they don't have actually they're not telling you how much you have to pay. They're just giving you like, you know, type of benefits are available. So but you have to pay for those so it doesn't come free with this great card. But you'll get emergency travel medical insurance for many other free great cards. So in this case, this is not a good option to just pay for this benefit having the simply financial cashback credit card. Okay, so now here we have the credit card, how to get this card. So it mentions here that in order to get this card, you actually have to have a simply financial customer. So if you do not have a simply financial account, then you're not able to get this card. So that's this card is designed only for simply financial customers. So it's not for anyone, everyone. So if you like to get this card, but you don't have a simply financial account, then you can sign up for simply financial account and that way you can get this card. Okay, so here we have the phone number and everything and looks like basically that's all we have here. So the only good thing about this card is the 4% earn rate at restaurants, bar and coffee shops and take out purchases. And other earn rates are very poor. For example, the gas, grocery, drugstore purchases only 1.5% and everything else is half percent. So there are other credit cards on the market which where you can get more return on every they purchases or everything else. For example, the Rogers World Elite Mastercard has 1.75% return on everything. And then if you are looking at the Tangerine Cashback Mastercard that gives you actually 2% return, but you have to choose from different two to three categories. So my suggestion on this card would be that if you are planning to get this card, use this card for restaurant, coffee shop take out where you are 4% and everything else. Instead of using this card, use other credit cards where you have higher return. For example, Rogers World Elite Mastercard or the Tangerine Cashback credit card. So I don't see anything else to discuss here. So the benefits are very poor and there is no insurance coverage except extended warranty, purchase security and you are going to have to pay for these other benefits if you would like them. For example, emergency travel medical and payment protection insurance. But you can get the emergency travel for free with other credit cards even if they are zero-annual credit card. For example, Rogers World Elite Mastercard or even the other credit card which provides free travel insurance would be the PC World Elite Mastercard. So I don't see there is a lot going on with this credit card. So the new logical explanation to use this credit card would be for the 4% earn rate and for everything else you can look somewhere else. So we have been expecting a simple financial to launch this credit card and finally they came up with this credit card. However, the benefits and everything is nothing exceptional. So my take on this card would be that a lot of customers will be disappointed because of the lower earn rate and not many benefits. However, only the 4% cashback rate on restaurant purchases would be something that you can get this card and use this card for. So that's all for today. If you like what you see, please give it a thumbs up and consider subscribing. On this channel I do financial travel and other videos. So there will be more videos coming up. So I'll see you shortly. Thank you.