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In Canada, there are so many options when it comes to cashback credit cards and credit card rewards. Let’s take a look at some of the best ones, as well as the other features that are included in those cards.
Cashback Credit Cards in Canada
When it comes to getting a cash-back rewards credit card, there are just too many to choose from. To help with that, we’ve made a list of some of the best cash-back credit cards in Canada. These offer both monthly and annual rewards.
Scotia Momentum Visa Infinite Card
If you’re looking for a cash-back credit card with high rewards, then the Scotia Momentum Visa Infinite Card might be the right fit for you. However, there are income limits on this card. You must have a minimum personal income of $60,000 or a minimum household income of $100,000. You can also have a minimum of $250,000 in assets under management to qualify.
As a special offer, you can currently get 10% cash back on all purchases when you spend up to $2,000 in the first 3 months. There’s also no annual fee for the first year. After that, the annual fee is $120 and $50 for each complimentary card. There’s a minimum credit limit of $5,000, and the purchase interest rate is 20.99%. The cash advance rate is 22.99%.
When it comes to earning points with this card you can get 4% cash back for every $1 spent on grocery store purchases, recurring bill payments, and subscription payments. You can also get 2% back on gas and daily transit purchases, as well as 1% cash back for every $1 spent of everything else.
Some other benefits included with this card are:
- Visa Infinite Concierge Services
- Visa Infinite Hotel Collection
- Visa Infinite Dining and Wine Country Program
- New Mobile Device Insurance
- Trip Cancellation and Trip Interruption Insurance
- Travel Emergency Medical Insurance
- Flight Delay Insurance
- Delayed and Lost Baggage Insurance
- Travel Accident Insurance
- Rental Car Collision Loss and Damage Insurance
- Purchase Security and Extended Warranty Protection
BMO CashBack World Elite Mastercard
The BMO Cash Back World Elite Mastercard also offers some great cash-back rewards. However, in order to qualify, you have to have a minimum personal income of $80,000 or a minimum household income of $150,000. If you apply now, you could qualify for the welcome offer of 10% cash back in the first 3 months and the annual fee waived. That said, you could also receive the annual fee rebate if you have a BMO Premium Chequing Account as your bank account.
With this card, the annual fee is $120, the purchase interest rate is 21.99%, and cash advances are 23.99%. When it comes to points, you can earn 5% back on groceries, 4% back on transit, 3% back on gas, 2% back on recurring bills and 1% back on all other purchases. Plus, there’s no limit on how much cash back you can earn.
Other benefits included with this card are:
- Roadside Assistance
- Travel and Medical Protection
- Redeeming as little as $1 in cash back
- $0.07 cents per litre savings at Shell
- Car rental discounts with Alamo, Enterprise and National
- Complimentary Mastercard Travel Pass provided by Dragon Pass
- Extended Warranty and Purchase Protection
- Mastercard Travel Rewards Cash Back Offers
- BMO PaySmart Installment Plans
BMO Cash Back Mastercard
If you’re looking for a cash-back Mastercard with no annual fee, then the BMO Cash Back Mastercard is another great choice. It’s known for being the card that offers the most cash back on groceries with no annual fee. They’re also currently offering a special welcome bonus that offers 5% cash back in your first 3 months. They’re also offering 0.99% on all balance transfers with a 2% balance transfer fee.
As for everyday earnings, you can earn 3% cash back on grocery purchases. You can also earn 1% cash back on recurring bill payments. All other purchases will earn you 0.5% cash back. When it comes to using your cash back, you can start cashing in on amounts as little as $1 and use them towards credit card statement credit, have them deposited in your BMO account, or use them with Investorline. You can even set up automatic transfers of your cash-back rewards.
The purchase interest rate on this card is 21.99%, and the cash advance rate is 23.99%. The other benefits included with this card are:
- Extended Warranty and Purchase Protection
- Car rental discounts with Alamo, National and Enterprise
- 20% off admission to Cirque de Soleil (15% off in Las Vegas)
- 7% discount on Booking,com
- BMO PaySmart Installment Plans
SimplyCash American Express Preferred Card
For those who like American Express credit cards, the SimplyCash American Express Preferred Card offers some awesome benefits. Right now, you could also earn a bonus value of up to $250 with 10% back in purchases up to $2,00o in the first 3 months and a $50 statement credit when you make purchases in month 13.
This card has a monthly fee of $9.99 and a purchase interest rate of 21.99%. There’s also a cash advance rate of 21.99%. In terms of cash back, you can earn 4% back on gas and groceries and 2% back on all other purchases. Other benefits included with this card are:
- Out of Province and Country Medical Insurance
- Flight Delay Insurance
- Baggage Delay Insurance
- Hotel Burglary Insurance
- Lost and Stolen Baggage Insurance
- $100,000 Travel Accident Insurance
- Car Rental Theft and Damage Insurance
- Mobile Device Insurance
- Front-of-the-Line Amex Presale and Reserved Tickets
- Amex Experiences
- Buyer Assurance Protection Plan
- Purchase Protection Plan
- 24/7 Customer Service
- Fraud Protection Guarantee
- Emergency Card Replacement
- American Express Travel Online
- Plan It- The American Express Installment Program
Simplii Financial Cash Back Visa
Another cash-back card with no annual fee is the Simplii Financial Cash Back Visa. You only need a minimum household income of $15,000 in order to apply, and you can earn up to $100 with 10% cash back in your first 3 months. As for annual interest rates, the purchase interest rate is 20.99%, and the cash advance rate is 22.99%.
When it comes to cash back, you can earn 4% back on bar and coffee shop purchases with an annual limit of $5,000. You can earn 1.5% cash back on gas, grocery, preauthorized payments, and drugstore purchases up to an annual limit of $15,000. You can earn 0.5% on all other purchases. Some other features you can get with the card include:
- Cash Back on Global Money Transfers
- Apple Pay, Google Pay or Samsung Pay
- Purchase Security and Extended Protection Insurance
- Optional CIBC Travel Medical Insurance
Secured Neo Mastercard
For those who are looking to improve their credit score and get a secured credit card, the Secured Neo Mastercard also offers cash back. With this card, you can start building your credit history and earn cash back for just $5 per month. No hard credit check is needed, there’s guaranteed approval, and international IDs are accepted. All you have to do is set aside your security deposit and make your regular payments.
When it comes to cash back, you can earn 2% back on gas purchases and groceries, as well as 0.5% back on all other purchases as long as you have $3,000 in your everyday account. The credit limit on this card is based on your security deposit. The minimum security deposit you can put down is $50.
Tangerine World Mastercard
As a completely online bank, Tangerine also offers a cash-back Mastercard called the Tangerine World Mastercard. With this card, you can get 10% cashback up to $100 in the first 2 months, up to 2% Money-Back Rewards deposited into your account monthly, and unlimited 2% cash-back in 2 categories of your choice. You can also get 0.5% cash back on all other purchases. There’s no annual fee; the purchase interest rate is 20.95%, and the cash advance rate is 22.95%.
When it comes to the 2% cash-back, you can choose from a variety of different categories, including:
- Grocery
- Furniture
- Restaurants
- Hotel/Motel
- Gas
- Recurring Bill Payments
- Drug Store
- Home Improvement
- Entertainment
- Public Transportation and Parking
You can also unlock a 3rd category, these are known as bonus categories, by setting your rewards to be automatically deposited into a Tangerine Savings Account. Don’t forget, any of these categories can be online purchases as well.more cash
Other benefits included with this card are;
- Purchase Assurance and Extended Warranty
- Mobile Device Insurance
- Rental Car Insurnace for Collision and Loss Damage
- Mastercard Travel Pass
- Mastercard Travel Rewards
- Use of mobile wallets
Other fees that you may incur with this card are:
- 3% balance transfer fee with $5 minimum
- 1.95% interest on balance transfers for the first 6 months
- $3.50 cash advance fee in Canada/ $5 outside
- $25.00 dishonoured payment fee
- $25.00 over limit fee
- $25.00 rush card fee
- $5.00 past statement reprint
- 2.50% foreign currency conversion fee (foreign exchange fees)
Scotia Momentum Visa Card
If you’re looking for a low annual fee credit card, then a good choice could be the Scotia Momentum Visa Card. The annual fee is $39, the purchase interest rate is 19.99%, and the cash advance rate is 22.99%. Each supplementary card you purchase is $15, and the minimum card limit you can get is $500. Right now, you can also get a 2.99% introductory interest rate on balance transfers for the first 6 months.
In terms of cash-back rewards, you can earn 2% back on anything you spend at eligible gas stations, grocery stores, drug stores and recurring bill payments. All other purchases will earn you 1% cash back. This will all be earned by your monthly spending. Other benefits include:
- 25% off at Budget and Avis car rentals
- Purchase Security and Extended Warranty Protection
- Optional Scotia Credit Card Insurance
- Scotia SelectPay
CIBC Dividend Visa Infinite Card
CIBC offers a high cash-back credit card as well called the CIBC Dividend Visa Infinite Card. This card has an annual fee of $120 for the primary cardholder and a fee of $30 for each supplementary card. Currently, you can also get up to $350 with their welcome offer. You can get 10% back up to $200 for purchases on your first 4 statements. You can also get your first annual fee rebated and a $50 cash-back bonus for setting up a pre-authorized payment in the first 4 statements.
One thing you do have to consider before applying for this card, though, is that there is a minimum income requirement. You need an annual income of $60,000 or an annual household income of $100,000 to qualify.
In terms of cash back, you can earn 4% back on gas, electric vehicle charging, and grocery purchases. You can also earn 2% back on transportation, dining and recurring payments. All other purchases will earn you 1% cash back. You’re able to earn unlimited cash back. When it comes to redeeming the cash back, you can redeem it whenever you want for however much you choose.
Some other features that are included in this card are:
- Up to 10 cents per litre discount with Journie Rewards
- Visa Infinite Program Access
- $0 transfer fees on Global Money Transfers
- Car Rental Discounts with Avis and Budget Car Rentals
- Free Skip+ for 12 months
- Mobile Device Insurance
- Purchase Security and Extended Warranty Protection
- Out of Province Emergency Travel Medical Insurance
- $500,000 Common Carrier Accident Insurance
- Auto Rental Collision and Loss Damage Insurance
- CIBC Pace It
Desjardins Odyssey Visa Infinite Privilege
Desjardins is another financial institution that offers a cash-back credit card called the Odyssey Visa Infinite Privilege card. If you’re a Desjardins member, the annual fee is $295, and if you aren’t, then the fee is $395. The purchase interest rate is 11.9%, and the cash advance rate is 12.9%. When it comes to cash back, you earn different amounts based on the category.
| 4% | 3% | 1.75% |
| Restaurants | Groceries | All other everyday purchases |
| Entertainment | Travel | - |
| Alternative Transportation | - | - |
There are also other benefits you can get with this card, including:
- Comprehensive Travel Insurance
- Lounge Access at Montreal-Trudeau Airport
- Visa Infinite Privilege Concierge Service
- Visa Airport Companion
- Hertz, Thrifty, and Dollar Car Rental Discounts
- Auto Rental Collision and Loss Damage Insurance
- Mobile Device Insurance
- Purchase Protection and Extended Warranty Coverage
Meridian Visa Infinite Cash Back
Meridian is another credit union that offers a cash-back credit card. It’s called the Meridian Visa Infinite Cash Back. For your first year, there is no annual fee on your first card or any additional cards, and you can get a welcome offer of up to 7,000 reward points on your first purchase. That said, in order to qualify for this card, you need to have a minimum income of $60,000 or a minimum household income of $100,000.
For this card, the annual fee is $99, and the fee for each supplementary card is $30. The purchase interest rate is 19,50%, and the cash advance rate is 21.99%. When it comes to points, you can earn 4% back on gas and groceries, 2% back on pharmacy and utility bills, and 1% back on all other eligible purchases.
Walmart Rewards World Mastercard
In terms of no-fee cash-back credit cards, the Walmart Rewards World Mastercard is a great option. The interest rate is 21.89%, and the cash advance rate is 22.97%. Just like most credit cards, there’s also a 21-day grace period. Those who shop at Walmart specifically can earn lots of rewards.
With this card, you can earn 5% back when you purchase eligible Walmart brand items. These include brands like George, Athletic Works, Your Fresh Market and Great Value. You can also earn 2% back on transit, gas and ride-share purchases. You also have the option to split your larger purchases into equal monthly installments.
Other benefits included with this card are:
- Zero Liability Protection
- Balance Protection Plan
- Extended Warranty Plan
- Purchase Assurance Protection
- Mastercard Global Services
Neo World Elite Mastercard
While the Neo Secured Mastercard offers cash-back, it also has a traditional cash-back credit card called the Neo World Elite Mastercard. This card has an annual fee of $125, a purchase interest rate of 19.99%-29.99%, and a cash advance rate of 22.99%-28.99%. That said, in order to qualify, you need a minimum income of $80,000 or a household income of $150,000.
One cool thing about this card is the balance in your everyday account, which can earn you a boosted rate of cash back. Let’s take a look at both rates for each category. However, you can earn extra cashback with Neo partners.
| Category | Cash Back Rate | Boosted Rate |
| Groceries | 5% | 7% |
| Recurring Bill Payments | 4% | 5% |
| Gas | 3% | 4% |
| Everything Else | 1% | 1% |
Other benefits you can get with this card include:
- Extended Warranty and Purchase Protection
- Auto Rental Collision Loss Damage
- Out of Province and Country Medical Insurance
- Delayed and Lost Baggage Insurance
- Flight Delay Insurance
- Trip Cancellation and Trip Interruption Insurance
- Hotel and Motel Burglary Insurance
- Purchase Protection and Extended Warranty Coverage
KOHO Prepaid Mastercard
KOHO is different from your typical prepaid credit card. It’s essentially a no-fee spending and savings account that also acts as a credit card. You can rebuild your credit score and earn cashback all with your own money. That said, how much this costs depends on the plan that you choose. There are 3 different KOHO plans to choose from.
Essential
The Essential plan ranges from $0 to $4 per month. You can choose to have it billed monthly or annually. The benefits included with this plan are 1% cash back on groceries, transportation, food and drink. You can also earn 2.5% interest on your entire balance. Other benefits include free credit score access and instant e-transfers.
Extra
The Extra plan ranges from $12 to $18 per month based on whether it’s billed monthly or annually. It offers 1.5% cash back on groceries, transportation, food and drink as well as 3% on your entire balance. Other benefits include free credit score access, instant e-transfers, no foreign transaction fees and $7 per month credit building.
Everything
The Everything plan ranges from $14.75 to $22 per month, depending on whether it’s billed monthly or annually. You can earn 2% back on groceries, transportation, food and drink, as well as 4% on your entire balance. Other benefits include free credit score access, instant e-transfers, no foreign transaction fees, $5 per month credit building and personal phone support.
Best No-Fee Cash Back Card
When it comes to cash-back credit cards, there are many different ones that have no annual fee. That said, the best one is the one that earns you points for the things you want to earn. For this reason, one of the best is considered to be the Tangerine cash-back card. You can choose which spending categories you wish to earn your cash back and how you want to use your cashback. Plus, all of your transactions can be done through online and mobile banking.
Highest Cash Back Credit Card
If you’re looking for a credit card with the highest cash-back, then a good choice is the BMO World Elite Mastercard. You can earn a lot of cashback with this card while still being able to redeem your points for what you choose. That said, there are a lot of other cashback credit card choices with similar cashback options.
10% Cash Back Credit Card Canada
While there aren’t any credit cards that give you 10% cashback all the time, there are credit cards that will give you 10% back up to a limit during their promotional period. These credit cards include:
- Scotia Momentum Visa Infinite Card
- BMO CashBack World Elite Mastercard
- CIBC Dividend Visa Infinite Card
- Tangerine World Mastercard
- Simplii Financial Cash Back Visa
- SimplyCash American Express Preferred Card
- TD Cash Back Visa Infinite Card
Best RBC Cash Back Card
While RBC does offer a number of cash-back credit cards, one of the best is the RBC Cash Back Preferred World Elite Mastercard. This card offers you 12% back in the first 3% on up to $2,000 in purchases. There’s an annual fee of $99 and no fees for any additional cards. The purchase interest rate is 20.99%, and the cash advance rate is 22.99%. After your promotional period is up, you can earn 1.5% on all other purchases with no limit. Due to this, this card can earn you more rewards than the no fee card.
Some additional features included with this card are:
- $0.03 off per litre and 20% more points at Petro Canada
- 50 Be Well points for every $1 spent at Rexall
- A 12-month complimentary DashPass subscription
- Mastercard Travel Rewards
- Mastercard Airport Experiences
In order to get approved for this card, you have to meet the annual requirements based on your personal or household income. You must have a personal income of $80,000 or a minimum household income of $150,000. You also have to have a good credit history and pass the credit check.
Best Rogers Cash Back Card
While Rogers has two cash-back credit cards to choose from, the Rogers Red World Elite Mastercard offers more rewards. If you have one qualifying service with Rogers, Fido or Shaw, you can earn 2% back on qualifying non-US purchases. If you don’t, then you can earn 1.5% back. You earn 3% back on qualifying US purchases. You can also get 1.5x more cash back when you redeem for Rogers, Fido or Shaw purchases.
With this card, there’s no annual fee or fees for additional cardholders. The purchase interest rate varies from 20.99%-25.99%, and the cash advance rate ranges from 22.99% to 27.99%. Other benefits that you can get with this card include:
- 5 Roam Like Home days with a Rogers Mobile Plan
- Extended Warranty and Purchase Protection
- Rental Car Collision and Damage Insurance
- Out of Province and Out of Country Emergency Medical Insurance
- Trip Interruption and Trip Cancellation Insurance
- Complimentary Mastercard Travel Pass Membership
- Access to over 1,300 Airport Lounges
Best Cash Back Mastercard and Visa
It’s really difficult to determine which is the best cash-back Visa and which is the best cash-back Mastercard in Canada. Many of these cards have the same benefits, but they don’t have the same cash-back options. These are individual to the credit card company and can vary from card to card. To determine which one is the best for you, you have to determine what you spend the most on with your credit card and which added benefits are the most important to you. This means that your spending habits and the credit card providers you choose will have to align, even if you have multiple credit cards.
Final Thoughts
Choosing the right cash-back card can be difficult. Each of these has its own pros and cons, while others can be more difficult to qualify for. Many of them also require you to meet the minimum credit score requirements and have a good credit history.
However, you should compare cash-back options to all your purchases. You should also look at all the credit cards and figure out which you would use the most. While it is okay to have multiple credit cards, you don’t want to have so many that you can’t keep track of them.
