The 14 Best Cash Back Credit Cards in Canada

Working to make money is a reality that everyone knows. Doing your daily shopping while earning money is a dream that many would love to realize. Fortunately, acting as a bearer of good news, we are happy to announce that your dreams can come true more easily than you had imagined! Indeed, some credit cards available in Canada allow you to get cash back based on your daily spending.

You've probably already heard of reward credit cards. We often think of travel rebates and discounts at the grocery store. However, it is also possible to earn money back with some cards! These discounts are usually in the form of a cheque or discount directly on your credit card statement.

The discount percentage may differ depending on the category of your purchase and, of course, the card you use. Since the locations where you can get discounts vary according to the cards, it’s best to choose an option that suits your spending habits. If you want a credit card that meets your expectations, we invite you to use a credit card comparison tool.

In short, in order to help you choose the best cash back credit card, we have identified the 14 best cards of this kind! If you're looking for more ways to save, cash back apps are not tied to a credit card. They are more like couponing, without the hassle of searching for paper coupons. Happy reading and, above all, happy savings!

SimplyCash® Card from American ExpressCard: Best no-fee cash back card

The SimplyCash® Card from American Express offers attractive cash back without having to pay any annual fees, making it a great choice. If you refer your friends, you could earn up to a maximum annual referral bonus of $375 cash back.

In addition to the great cash back, the American Express SimplyCash card comes with several insurances. These include an additional guarantee on purchases and $100,000 in travel death and dismemberment accident insurance. Cardholders also benefit from American Express Experiences, which provides access to shows and special events.  

Finally, there is no minimum annual income required to get this credit card. All you need is an acceptable credit score in order to be eligible. This card has no annual fee and additional cards are also free of charge.

SimplyCash® Preferred Card from American Express: Best for flat rate cash back

The SimplyCash® Preferred Card from American Express is good to use for everything. The card has a lot of similarities to the SimplyCash® card but it offers a higher discount rate. Obviously, since there are more benefits, the fees and eligibility requirements are different. The annual card fee is $119.88 for the primary card, but additional cards are free. There is no minimum income to be eligible for this card.

The SimplyCash® Preferred Card from American Express offers 4% cash back on all gas purchases and also 4% on groceries up to $1200 cash back annually. In addition, there is no annual limit for other rewards categories. So, if the cardholder uses their card for virtually all their daily purchases and recurring bill payments, they can expect some pretty amazing cash back.

This card is known for its wide variety of insurance benefits, including car rental theft and damage insurance, $100,000 travel accident insurance, out-of-province or out-of-country emergency medical insurance for people under the age of 65, baggage loss or theft insurance, flight and baggage delay insurance, and even hotel burglary insurance. You can get access to deals on select hotel and car rental bookings, plus offers that earn you statement credits on your eligible purchases.

Additionally, the card provides an extended warranty on certain purchases, which allows the cardholder to extend the manufacturer's protection for up to an additional year and 90 days protection on theft or damage for up to $1,000. The products must 100% be paid for with the credit card.

BMO Cash Back Mastercard Credit Card: Best for grocery shopping

The BMO Cash Back Mastercard is particularly interesting because it is easy to use and it is possible to take advantage of the cash back rate on all purchases made with the card. With 3% cash back, it's a great card for groceries. You also earn 1% on recurring bill payments and 0.5% on all other purchases.

As an added benefit, the BMO Cash Back Mastercard offers purchase insurance and extended warranty insurance. Finally, cardholders also have access to exclusive discounts for certain events and shows.

This card has no annual fee and no minimum annual income is required to be eligible, which makes it interesting for many people. Indeed, it's great to have a good cash back rate without the need to pay an annual fee.

BMO Cashback World Elite Mastercard Credit Card: Best overall cash back card

We reviewed the BMO Cash Back World Elite card and were impressed with its offer. The BMO Cash Back World Elite Mastercard offers an excellent cash back rate on purchases: 5% on groceries, 4% on transportation, 3% on gas, 2% on recurring bill payments and 1% on all other purchases. The best part is that you can redeem your cash back as soon as you accumulate $1! A great thing is that you can enjoy the flexibility to put your cash back where you want: your statement credit, BMO chequing or savings account or InvestorLine.

As a benefit, cardholders benefit from BMO World EliteTravel Insurance coverage. This includes collision damage waiver benefits on rental cars, unexpected return home benefits, 8 days emergency medical benefits up to $2 million. With this card, you save up to 25% off rentals at participating National Car Rental and Alamo Rent A Car locations. You also have access to roadside assistance including battery boosts, flat-tire change, lockout service and towing.

For purchase protection, there is purchase insurance and an extended warranty. The advantage with this card is that it covers damage and loss of purchases for 180 days. The retail warranties are doubled to a maximum of two years.

Finally, as with many BMO credit cards, cardholders benefit from attractive discounts to several events and shows. These offers even apply to Cirque du Soleil shows!
The annual fee for this card is $120, and here is also a $50 annual fee for each additional card. The minimum annual income to obtain the BMO Cashback World Elite Mastercard is $100,000 per person, or $150,000 per household. So, this is not a card for everyone. Finally, the minimum credit limit is $5,000.

Neo Cashback Secured Mastercard: Best secured cash back card

Neo offers a credit card that is different from traditional credit cards. With Neo Mastercard you can earn up to 15% cashback on first-time purchases. This is huge! You can then spend your cahsback the way you want. The other amazing advantage of Neo is that you can get approve without a credit history. Simply sign up for the Neo Secured Mastercard and your approval is guaranteed.

There are no annual or monthly fees with Neo Mastercard. The avarage cashback at thousands of Neo partners is 5%. They include gas stations, grocery stores, restaurants, gyms and coffee shops. Neo Financial guarantees you at least 0.5% cashback every month. So, at the end of the month, if your instant cashback adds up to less than 0.5% across all your purchases, Neo will top your cashback up to 0.5%.

The credit rates for Neo Mastercard are standard, or slightly above standard. They depend on Neo‘s assessment of your credit application, credit profile, and your province.

Tangerine Money-Back Credit Card: Best for customized bonus rewards categories

The Tangerine Money-Back Card is unique in that it allows you to choose from a list of purchase categories that qualify for enhanced cash back. A 2% cash back is available on any two categories from the following list: groceries, entertainment, transportation and parking, furniture, restaurants, hotels and motels, gas, recurring bill, pharmacy, and home improvement. This flexibility makes this card one of the best credit cards for gas. Deposit your cash back into a Tangerine savings account and get a third category at 2%.

Whether the cash back is deposited on the credit card statement or directly into the Tangerine savings account, it is automatically paid monthly instead of annually like some credit cards. All other purchases earn 0.5% cash back. Users of this card are entitled to an unlimited amount of cash back for the Tangerine Money-Back Credit Card.

This card is free of charge, as are additional cards issued to other authorized users. However, you must have an annual income of at least $12,000 to be eligible for this card. It comes with purchase insurance, which covers damage and loss of products purchased with the credit card for the first 90 days of ownership. The extended warranty doubles the retailer's warranty for up to an additional year.

TD Cash Back Visa Infinite* Credit Card: Best for recurring bill payments

The TD Cash Back Visa Infinite* card offers 3% cash back for every dollar spent on gas, groceries and recurring bill payments, and 1% on all other purchases.

Those who hold the TD Cash Back Visa Infinite* card have the option to receive their rewards at any time of the year, provided their accounts are open, in good standing and the minimum amount of the return is $25.

The TD Cash Back Visa Infinite* card comes with a free Deluxe TD Auto Club membership that provides roadside assistance in the event of a problem on the road, both day and night. By using this credit card for all Avis and Budget car rentals, cardholders save 10% in Canada and the United States and 5% internationally. Cardholders also receive collision damage waiver on rental vehicles, which applies only if the rental was paid for with the credit card.

The card also provides travel medical insurance, which is combined with $2,000,000 coverage for stays of 10 days or less for those 65 and under and for stays of 4 days or less for those 65 and over. Cardholders also receive $1,000 per person in coverage for any delayed or lost luggage.

The annual fee for the primary cardholder is $139. For the first additional card, the fee is $50, but for subsequent additional cards, there is no additional fee. The minimum annual income to obtain this card is $60,000 per person or $100,000 per household.

Scotia Momentum Visa Infinite Credit Card: Best cash back credit card for newcomers to Canada

The Scotia Momentum Visa Infinite Card offers attractive cash back that varies by purchase category. There is 4% cash back for every $1 of grocery store purchases as well as for all recurring payments or subscriptions, 2% cash back on the purchase of gas and public transit including car-sharing services such as Uber and 1% back on all other types of purchases. If you're new to Canada, Scotiabank offers credit cards even if you don't yet have a credit file here.

This card offers the Visa Infinite program, which includes three major benefits. Cardholders have access to what is called a concierge service, which is a 24-hour telephone service, seven days a week; this service is designed to help in many ways, such as finding a gift for Father's or Mother's Day, finding tickets for a show, etc. There are also several hotels where Visa Infinite cardholders can have discounted prices, in addition to having the option to upgrade their hotel room. They also have access to free Wi-Fi in hotel rooms.

The card also comes with several included insurances. Cardholders benefit from protection on new mobile devices, available for all mobile phones or tablets under contract with a mobile carrier.

Additionally, the card provides protection against trip interruptions or cancellations, as long as the cost of the trip has been charged to the Scotia Momentum Visa Infinite Card. Cardholders under 65 years old have access to emergency medical travel coverage due to an accident or illness of up to $1,000,000. In addition, if the plane is delayed, the user can be reimbursed for all expenses incurred while waiting for the next flight (hotel room, food, etc.). For all lost or late baggage of more than four hours, there is insurance that can partly reimburse losses or expenses for first aid items if the luggage is late. Cardholders are also covered for accidents on public transport or in rental cars. Despite these incredible advantages, always compare flights and compare hotels before booking.

Finally, there is insurance on purchases made with the card, that covers damage or loss of items within 90 days of the date of purchase. Lastly, there is an extended warranty that doubles the manufacturer's warranty on products purchased with the card for a maximum of one additional year.

The annual fee is $120 for the primary cardholder and $50 for each additional card. However, there are no annual fees in the first year. To be eligible, you must have an annual income of $60,000 per person or $100,000 per household. The minimum credit limit is $5,000 with this credit card.

CIBC Dividend Visa Infinite Credit Card: Best for gas and electric vehicle charging

If you drive a Hummer, you're gonna like this one! The CIBC Dividend Visa Infinite card is definitely one of the best Visa cards in Canada. It offers different cash back rates that vary according to the categories of purchases. It offers 4% cash back per dollar spent on all gas, electric vehicle charging and grocery purchases, 2% back on dining, transportation and recurring bills, as well as 1% back on all other purchases.

You could also link and use your CIBC Dividend Visa Infinite card with Journie Rewards to save up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.

Finally, it also offers a wide variety of travel insurance. It offers out-of-country or out-of-province emergency medical coverage for the cardholder, spouse, and children, this coverage is set at a maximum of $5,000,000 per person. The trip must last 10 days, and the cardholder must be under the age of 64 to be eligible. There is also Common carrier coverage up to $500,000. CIBC Dividend Visa Infinite offers compensation in case of accidental death or dismemberment resulting from riding as a passenger on a common carrier (land, air or water transportation).

Lastly, there is extended warranty and purchase insurance, which covers all accidental damage, theft, and loss during the first 90 days of ownership and doubles the retailer's warranty for up to one year. 

This card has an annual fee of $120 and $30 for each additional card. To qualify for this card, the primary cardholder must have a minimum salary of $60,000 per year or $100,000 per household.

Desjardins Cash Back World Elite Mastercard: Best for entertainment

Desjardins' Cash Back World Elite Mastercard offers 4% per $1 spent on groceries, 3% on restaurants, entertainment and alternative transportation, as well as 1% on everything else. To be eligible, you need a minimum annual income of $80,000 (personal) or $150,000 (household).

Among its other benefits, you get free travel insurance for you and your family for three day trips. This includes emergency healthcare coverage up to $5 million per person, trip cancellation coverage as well as $500  if your baggage is lost or damaged by a common carrier, delayed for more than 6 hours or stolen. During your travel, you have access over 1,300 airport lounges in more than 140 countries, courtesy of Mastercard Travel Pass provided by DragonPass.

Desjardins' Cash Back World Elite Mastercard also provides auto rental collision and loss damage insurance, which covers you for up to 48 consecutive days in the event your rental car is damaged or stolen. For renting the car, go to Hertz, Thrifty or Dollar, where you get up to 25% off and several other advantages when you use your Desjardins credit card.

Simplii Financial Cash Back Visa: Highest cash back rate welcome offer

The Simplii Financial Cash Back Visa lets you earn 4% cash back at eligible restaurants, coffe shops and bars up to $5,000 per year, 1.5% on eligible gas, groceries, drugstore purchases and pre-authorized payments, up to $15,000 per year and 0.5% on all other credit card purchases with no limit on how much you can earn. For your first 3 months, you enjoy an incredible 20% cash back on eligible gas, groceries, drugstore purchases and pre-authorized payments. This applies to a $500 spending limit, meaning that you should get $100 back.

You only get your cash back at the end of the year, unfortunately. All accumulated cash back is automatically redeemed on the last day of your December statement, resulting in your cash back balance being reset to zero, and applied as an annual credit on the primary cardholder’s January statement or, in limited circumstances, at such other time as may be permitted by Simplii.

The Simplii Financial Cash Back Visa is free and you can add up to 3 additional cardholders (for free) to earn cash back faster. It also comes with Purchase Security and Extended Protection Insurance to protect your purchases.

KOHO Extra Mastercard: Best prepaid card for travel

KOHO offers prepaid credit cards. The KOHO Extra plan costs only $84/year. It gives you 2% cash back on groceries, transportation, eating & drinking, and 0.5% cash back on all other purchases, as well as 2% interest on your entire balance.

Your cash back raises to 6% if you book your travel with Booking.com. You also get 1 free international withdrawal per month and no foreign exchange fees, all the while enjoying meals and drinks (with cash back) in a foreign country.

Rogers World Elite Mastercard: Best for earning cash back on U.S. dollar purchases

The Rogers World Elite Mastercard is a hidden gem for those who frequently make purchases in U.S. dollars. This is where you'll find the highest cash back rate, making it a worthwhile consideration if you make numerous U.S. dollar transactions. You earn 3% cash back on U.S. dollar purchases and 1.5% cash back on all other purchases, without any spending limit. There is a minimum income requirement of $80,000 annual personal income or $150,000 annual household income.

MBNA Smart Cash World Mastercard: Best low annual fee cash back credit card

With MBNA Smart Cash World Mastercard, you earn 2% on gas and groceries as well as 1% on all other purchases. To accumulate cash back faster, you can add up to 9 authorized users with no additional fee. This card comes with a rental vehicle collision damage waiver. In case of emergency, MBNA can make a decision about increasing your credit line in 1-hour during regular business hours.

FAQs about cash back credit cards