Best Cash Back Credit Cards in Canada: Rewards and Benefits.

Are you looking for a credit card that rewards you with cash back on your purchases? Look no further! In this article, we’ll explore the best cash back credit cards in Canada, their benefits, and how to choose the right one for your needs.

Top Cash Back Credit Cards:

1. CIBC Dividend Visa Card: Earn 4% cash back on gas and grocery purchases.
2. Scotiabank Scene Visa Card: Earn 5% cash back on entertainment purchases.
3. PC Financial Mastercard: Earn 3% cash back on groceries.
4. TD Cash Back Visa Card: Earn 10% cash back on all purchases in the first 3 months.
5. American Express SimplyCash Preferred Card: Earn 2% cash back on all purchases.

These credit cards are the best cashback credit cards in Canada.

Tangerine World Mastercard

If you have an individual income of $60,000 or a family income of $100,000, you may want to consider the World Mastercard Tangerine.

This credit card has no annual fee and offers cashback. With this limited-time welcome offer, you can earn an additional 10% cash back (up to $100) when you spend up to $1,000 on everyday purchases during the first 2 months.

You can choose two to three categories that interest you (groceries, gas, furniture, home improvement, recurring bills, pharmacy, etc.) to earn 2% cash back! And there is no annual cash back limit.

In addition, the Tangerine World Mastercard comes with several insurance coverages for your purchases and travel :

• 90 days purchase insurance
• One year extended warranty
• Mobile Device Insurance
• Rental Car Collision/Loss Damage Insurance

Finally, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months.

Scotia Momentum^® VISA Infinite* Card

The Scotia Momentum® VISA Infinite* card is recognized year after year as one of the best cash-back credit cards in Canada.

Currently, there is no annual fee in the first year, including on additional cards. And you can earn 10% cash back on all purchases for the first three months (up to $2,000 in total purchases).

With the Scotia Momentum® VISA Infinite* card, you get:

• 4% on groceries and recurring payments
• 2% on gas and daily transit
• 1% on all other purchases

For example, if you spend $1,000 per month on groceries and/or recurring payments, you’ll earn $40 cash back per month, or $480 cash back per year with this card for this category of purchases! And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).

The Scotia Momentum® VISA Infinite* card is an excellent Visa credit card for cash back.

And its insurance benefits are excellent!

CIBC Dividend^® Visa Infinite* Card

The CIBC Dividend® Visa Infinite* Card is one of the best Visa credit cards with cash back in Canada.

Right now, with this welcome offer, get a 10% welcome bonus in the form of up to $300 cash back (period covered by your first 4 statements) and a first-year annual fee rebate^†!

With this CIBC Cash Back Credit Card, you get:

• 4% cash back on gas, EV charging, and grocery purchases^†
• 2% cash back on eligible transportation, dining purchases and recurring payments^†
• 1% cash back on all other purchases^†

For example, if you spend $1,000 per month on groceries and/or gas and/or electric vehicle charging, you’ll earn $40 cash back per month or $480 cash back per year with this card for this category of purchases!

And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).

And this CIBC Cash Back Credit Card offers many insurance coverages:

• Auto Rental Collision/Loss Damage Insurance
• $500,000 Common Carrier Accident Insurance
• Out-of-Province Emergency Travel Medical Insurance
• Purchase Security and Extended Protection Insurance

CIBC Dividend Platinum^® Visa* Card

If you don’t meet the income requirements for the CIBC Dividend® Visa Infinite* Card, you could apply for the CIBC Dividend® Platinum Visa* Card. The minimum annual income required for this card is $15,000 (household).

With this offer, get a 10% welcome bonus in the form of up to $300 cash back (period covered by your first 4 statements) and a first-year annual fee rebate!^†

With the CIBC Dividend® Platinum Visa* Card, you get:

• 3% cash back on eligible gas, EV charging, and grocery purchases.^†
• 2% cash back on eligible transportation, dining purchases and recurring payments^†
• 1% cash back on all other purchases^†

And this CIBC Cash Back Credit Card offers some insurance coverage:

• Auto Rental Collision/Loss Damage Insurance
• $500,000 Common Carrier Accident Insurance
• Purchase Security and Extended Protection Insurance.

BMO^® CashBack^® World Elite^®* Mastercard^®*

The BMO® CashBack® World Elite®* Mastercard®* is one of the best cash back Mastercard credit card in Canada.

For a limited time, you will earn up to 10% cash back on select purchases for the first 3 months (that’s up to $260 cash back). Besides, the annual fee is waived in the first year!

With the BMO® CashBack® World Elite®* Mastercard®*, you earn between 2% and 5% cash back on many spending categories:

• 5% on grocery purchases (on the first $500 you spend monthly)
• 4% on transit (on the first $300 you spend monthly)
• 3% on gas and electric vehicle charging (on the first $300 you spend monthly)
• 2% on recurring bill payments (on the first $500 you spend monthly)

Everywhere else, you’ll earn 1% cash back, including at Costco.

Finally, it is one of the only credit cards in its category to offer an extended warranty of 2 additional years.

TD Cash Back Visa Infinite* Card

With the TD Cash Back Visa Infinite* Card, you earn 3% cash back on:

• Grocery stores
• Gas stations
• Recurring bill payments

And 1% cash back on all other purchases.

It’s the best TD cash back credit card, especially for gas purchases.

With this new welcome offer, you could earn 10% cash back on gas and grocery purchases and pre-authorized payments for the first three months (up to $3,500 in purchases). So you can earn up to $350 cash back!

Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.

Finally, you have good insurance coverage, such as travel medical insurance, delayed or lost baggage insurance, collision/loss damage insurance for car rentals and mobile device insurance.

SimplyCash^® Preferred Card from American Express

The SimplyCash® Preferred Card from American Express is the only credit card in Canada to earn 2% cash back on all purchases. In addition, you get :

• 4% cash back on gas purchases
• 4% cash back on grocery purchases

With this welcome offer, you can earn 10% cash back on all purchases (up to $2,000) for the first 3 months, or up to $200. Plus, receive a $50 statement credit after making a purchase in the 13th month.

The SimplyCash® Preferred Card from American Express Card is especially popular with those who have significant purchases to make: home improvement, furniture or appliance purchases since it offers 2% cash back at all stores.

This Card is stands out by the many insurances it offers : rental car theft and damage, $100,000 travel accident, emergency medical expenses (out-of-province or out-of-country), lost or stolen baggage, flight delay and misdirected baggage, hotel or motel burglary, Purchase Protection, Purchase Security.

MBNA Rewards World Elite^® Mastercard^®

With the MBNA Rewards World Elite® Mastercard®, you can earn 5 points per dollar of purchases for:

• Dining purchases
• Grocery purchases
• Digital media purchases (Netflix, Spotify, etc.)
• Memberships
• Household utility purchases (electricity, etc.)

Everywhere else, you will get 1 point per dollar.

Enough to make the MBNA Rewards World Elite® Mastercard® the best MBNA credit card for restaurants, groceries, digital media, subscriptions and household utilities.

Knowing that Mastercard recognizes Walmart Supercenters as grocery stores, this is the best credit card for Walmart customers!

Plus, depending on your province of residence, you’ll get a welcome bonus of between 20,000 and 30,000 points, a value of $200 to $300!

And each year, you will receive Birthday Bonus Points equal to 10% of the total number of Points the Account earned in the 12 months before the month of your birthday, to a maximum Birthday Bonus each year of 15,000 Points.

Rogers Mastercard^®

The Rogers Red Mastercard® is one of the best no-annual-fee credit cards in Canada, especially for Rogers, Fido or Shaw customers.

Right now, you can earn $60 cash back by making one purchase with your mobile wallet in the first 90 days AND 6 automatic payments from your Rogers, Fido or Shaw postpaid service in the first 8 months.

With the Rogers Red Mastercard®, by having a single qualifying service with Rogers, Fido or Shaw, you can earn 2% unlimited cash back on all your purchases. Eligible services include :

• Rogers Mobile
• Fido Mobile
• Rogers, Fido, or Shaw Home (Internet, TV, home phone, home monitoring, or satellite)

This card is now also available to Quebec residents with a mobile service with Rogers or Fido!

Plus, you get 1.5x more cash back on Rogers, Fido and Shaw purchases – that’s a 3% cash back value.

Plus, as a Rogers Red Mastercard® cardholder, you’ll get 5 days’ free access to Everywhere at Home, every year, on Rogers mobile plans (a value of up to $75).

If you’re not a Rogers, Fido or Shaw customer, you’ll earn 2% cash back on U.S. dollar purchases and 1% unlimited cash back on all other purchases.

RBC Cash Back Preferred World Elite Mastercard

With the RBC Cash Back Preferred World Elite Mastercard, earn 1.5% cash back on all your purchases. Costco included. And this, without any annual limit!

In addition, you get several benefits such as:

• Instant fuel savings at Petro-Canada
• 12 months of free delivery with DoorDash

Finally, the RBC Cash Back Preferred World Elite Mastercard is ideal for protecting your purchases. You get:

• Premium purchase protection for 120 days
• Extended warranty triples the manufacturer’s original Canadian warranty.

MBNA Smart Cash Platinum Plus^® Mastercard^®

The MBNA Smart Cash Platinum Plus® Mastercard® is one of the best cash-back credit cards with no annual fee in Canada.

With this card, you can get 2% on:

• gas purchases
• grocery purchases

Until the total gas and grocery purchases in the applicable month reaches $500. And 0.5% everywhere else.

For a limited time, you can earn 5% cash back for the first six months, a $150 value. This is the best no-fee MBNA credit card with cash back.

moi RBC Visa Credit Card

With the RBC Visa Card you can earn a welcome bonus of 10,000 points :

• 3,000 points upon your first purchase;
• 3,500 additional points when you spend at least $500 in the first three months;
• 3,500 additional points when you spend at least $2,000 in the first 12 months.

With this no-annual-fee RBC credit card, you can earn 2 points per dollar on:

• qualifying purchases made at participating Metro, Première Moisson and Brunet stores in Quebec, and at participating Jean Coutu stores in Quebec, Ontario and New Brunswick by swiping your Moi card and paying with your moi RBC Visa credit card
• dining, gas and EV charging purchases

And 1 point per dollar on all other purchases.

Plus, save 3¢/L on gas at Petro-Canada and earn 20% more points when you pay with a linked RBC card

Benefits of Cash Back Credit Cards:

1. Reward Points: Earn cash back on every purchase.
2. No Rotating Categories: Earn cash back on all purchases, with no rotating categories.
3. No Foreign Transaction Fees: Use your card abroad without extra charges.
4. Travel Insurance: Get protection against trip cancellations and interruptions.
5. Exclusive Benefits: Enjoy exclusive discounts and perks with partner merchants.

How to Choose the Best Cash Back Credit Card:

1. Consider Your Spending Habits: Choose a card that aligns with your spending patterns.
2. Evaluate Rewards and Benefits: Weigh the rewards against the annual fee.
3. Check Interest Rates: Ensure the interest rate is competitive.
4. Read Reviews and Compare: Research and compare cards before applying.

Frequently Asked Questions (FAQs):

What is the best cash back credit card in Canada?

CIBC Dividend Visa Card.

Can I earn cash back on all purchases?

Yes, with cards like American Express SimplyCash Preferred Card.

What is the minimum credit score required for cash back credit cards?

Typically 600+.

Can I use my cash back credit card abroad?

Yes, with no foreign transaction fees.

Conclusion:

Canada’s best cash back credit cards offer rewarding benefits and savings. By considering your spending habits, rewards, and benefits, you can find the perfect card for your lifestyle.