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Best Cash Back Credit Cards Canada

Top Picks & Cash Back Calculator
Discover the top cash back credit cards in Canada and maximize your rewards with our handy rewards calculator. Find the best card for your spending habits today!
By Robert Flowers III - 2024-01-23
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The best cash back credit cards are the ones that earn you the most cash back based on how you spend your money.

Here are our top picks for best cash back credit card in Canada:

  • Tangerine Money-Back Credit Card: Best for unlimited 2% money-back at no annual fee.
  • Tangerine World Mastercard®: Best no annual fee cash back card for travel.
  • Simplii Financial™ Cash Back Visa Card: Best for high cash back on dining.
  • CIBC Dividend® Visa Infinite Card: Best cash back Visa for gas purchases.
  • Scotia Momentum® Visa Infinite Card: Best for groceries and bills.
  • BMO CashBack® Mastercard®: Best for grocery with no income requirements.
  • SimplyCash™ Preferred Card from American Express: Best for high flat-rate cash back on purchases.
  • SimplyCash™ Card from American Express: Best for flat-rate cash back at no annual fee.
  • Desjardins Cash Back World Elite® Mastercard®: Best for transportation.
  • Home Trust Preferred Visa Card: Best for no foreign transaction fee.

Tangerine Money-Back Credit Card

Best For Unlimited 2% Money-Back At No Annual Fee
  • Earning Rate: Earn 2% Money-Back on up to two select categories of your choice and 0.5% on all other purchases. Choose a 3rd 2% Money-Back category if you deposit rewards into a Tangerine Savings account.
  • Main Highlights: Unlimited 2% Money-Back, rewards paid out monthly, and low income requirement.
  • Intro Bonus: Get 10% back, up to $100, when you spend up to $1,000 in your first 2 months.
  • Annual Fee: $0.
  • Summary: The Tangerine Money-Back Credit Card is one of the best cash back credit cards on the market thanks to it's great return, flexibility, and $0 annual fee.

Tangerine World Mastercard®

Best No Annual Fee Cash Back Card For Travel
  • Earning Rate: Earn 2% Money-Back on up to two select categories of your choice and 0.5% on all other purchases. Choose a 3rd 2% Money-Back category if you deposit rewards into a Tangerine Savings account.
  • Main Highlights: Airport lounge access, car rental collision/loss damage insurance, mobile device insurance, discounts, unlimited 2% Money-Back, and rewards paid out monthly.
  • Intro Bonus: Get 10% back, up to $100, when you spend up to $1,000 in your first 2 months.
  • Annual Fee: $0.
  • Summary: If you're love earning 2% cash back paid monthly on popular categories AND enjoy traveling, you'll want to consider the Tangerine World Mastercard®. It offers great value, lounge access, insurance, and more—all at no annual fee!

Simplii Financial™ Cash Back Visa Card

Best For High Cash Back On Dining
Simplii Financial Cash Back Visa
  • Earning Rate: Earn 4% cash back on restaurant, bar, and coffee shop purchases (on up to $5,000 per year), 1.5% back on gas, grocery, drugstore, and pre-authorized payment purchases (on up to $15,000 per year), and 0.5% back on everything else.
  • Main Highlights: High earnings on restaurant/dining at no annual fee.
  • Annual Fee: $0.
  • Summary: The Simplii Financial Cash Back Visa Card is one of the best cash back credit cards in Canada for dining out. The card also offers purchase security and extended protection insurance which is another big plus.

CIBC Dividend® Visa Infinite Card

Best Cash Back Visa For Gas
CIBC Dividend Visa Infinite Card
  • Earning Rate: Earn 4% back on gas and groceries, 2% back on transportation, dining, and recurring payments, and 1% back on everything else.
  • Main Highlights: High returns on gas and groceries and Visa Infinite benefits.
  • Annual Fee: $120 (rebated the first year)
  • Summary: The CIBC Dividend Visa Infinite Card is a hard to beat when it coems to gas and grocery purchases. You'll also receive Visa Infinite benefits and valuable insurance coverage including mobile device insurance and emergency travel medical insurance.

Scotia Momentum® Visa Infinite Card

Best For Groceries and Bills
Scotia Momentum® Visa Infinite Card
  • Earning Rate: Earn 4% back on grocery, recurring bill payments, and subscription purchases, 2% back on gas and daily transit purchases, and 1% back on all other purchases.
  • Main Highlights: High return on recurring bill payments and subscriptions, and Visa Infinite benefits.
  • Annual Fee: $120.
  • Summary: The Scotia Momentum Visa Infinite Card is a fantastic choice if you spend heavy across grocery and also have a good amount of recurring bills and subscriptions. The card offers a handful of useful benefits as well including discounts on Avis and Budget car rentals, access to Visa Infinite benefits, and a large range of insurance coverage like trip cancellation and trip interruption insurance.

BMO CashBack® Mastercard®

Best For Grocery With No Income Requirements
BMO CashBack Mastercard
  • Earning Rate: Earn 3% cash back on grocery, 1% cash back on recurring bill payments, and 0.5% cash back on all other purchases
  • Main Highlights: High return on grocery at no annual fee with no income requirements.
  • Annual Fee: $0.
  • Summary: The BMO CashBack Mastercard is one of the best credit cards for maximizing your grocery spend at no annual fee. It works well if you spend $500 or less per month on grocery as the rewards for the category are capped at $500 per cycle.

SimplyCash™ Preferred Card from American Express

Best For High Flat-Rate Cash Back
SimplyCash™ Preferred Card from American Express
  • Earning Rate: Earn 4% cash back on gas station purchases in Canada, 4% back on grocery purchases in Canada (up to $1,200 cash back annually), and an unlimited 2% back on all other purchases.
  • Main Highlights: Unlimited 2% cash back.
  • Annual Fee: $9.99 per month which comes out to $119.88 annually.
  • Summary: The SimplyCash Preferred Card is (simply) one of the best flat-rate cash back credit cards in Canada. If you're looking for a "one and done" cash back card that you can run all of your spending through, it doesn't get much better than this. You'll also be able to enjoy a handful of travel and purchase insurance which adds even more value to the card.

SimplyCash™ Card from American Express

Best For Flat-Rate Cash Back At No Annual Fee
SimplyCash™ Card from American Express
  • Earning Rate: Earn 2% cash back on gas station purchases in Canada, 2% back on grocery purchases in Canada (up to $300 cash back annually), and an unlimited 1.25% back on all other purchases.
  • Main Highlights: High cash back rates for a no annual fee card.
  • Annual Fee: $0.
  • Summary: The SimplyCash Card is one of the best no-annual fee flat-rate cash back credit cards in Canada. If you spend less than $1,100 per month in non-gas and non-grocery purchases, you'll find that this will be the better option over the Preferred version. If you spend more than $1,100 per month, go for the SimplyCash Preferred Card.

Desjardins Cash Back World Elite® Mastercard®

Best For Transportation
Desjardins Cash Back World Elite® Mastercard®
  • Earning Rate: Earn 4% cash back on grocery, 3% back on restaurant, entertainment, and alternative transportation, and 1% back on everything else.
  • Main Highlights: Airport lounge access and free travel insurance for up to 3 days.
  • Annual Fee: $100
  • Summary: The Desjardins Cash Back World Elite Mastercard is the best cash back credit card if you frequently spend in the category of transportation. The card also offers a solid amount of benefits including travel insurance for short trips, World Elite Mastercard benefits which includes access to airport lounges and restaurants through LoungeKey, mobile device insurance, and rental car loss/damage insurance.

Home Trust Preferred Visa Card

Best For No Foreign Transaction Fees
Home Trust Preferred Visa Card
  • Earning Rate: 1% cash back on all purchases.
  • Main Highlights: No foreign transaction fee and no annual fee.
  • Annual Fee: $0
  • Summary: The Home Trust Preferred Visa only earns 1% back on all purchases, but you won't have to worry about being charged a fee on foreign transactions which makes this the best credit card in this list for earning cash back on international purchases and travel. You'll also be able to enjoy purchase security which can protect your purchases against theft and damage for 90 days from the date of purchase.

Cash Back Calculator: Which Card Is Best For You?

Use the Cash Back credit card calculator to determine which cards will earn you the most cash back based on the spend amounts you enter into the tool.

Results will consist of all cash back credit cards in our database for Canada. They will be sorted by net return which is total cash back earned, plus annual credits, and minus annual fees.

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Calculator Options
What Type of Rewards Do You Want To Earn?
This calculator can output the best credit cards for a general rewards type or compile a list of the best credit cards for earning rewards with a specific loyalty program.
Frequent Flyer Programs
Select the frequent flyer program that you want to earn rewards for. Results will include all co-branded credit cards offered by the selected airline and all credit cards partners that allow you to transfer rewards to the selected airline.
Hotel Loyalty Programs
Select the hotel loyalty program that you want to earn rewards for. Results will include all co-branded credit cards offered by the selected hotel program and all credit cards partners that allow you to transfer rewards to the selected hotel program.
Other Loyalty Programs
Select the program that you want to earn rewards for. Results will include all credit cards offered by the selected program and all credit cards partners that allow you to transfer rewards to the selected program.
Personal Or Business?
Are you looking for personal (consumer) credit card or business credit cards? You can also include both in the results.
Income Maximum
Select if you're looking for credit cards based on your own individual income or if you're looking for credit cards based on the income of the entire household -AND- select the maximum income requirement you want listed in the results.
Enter Your Monthly & Yearly Spend Amounts
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Search for categories and click 'Add Category' to add it to the calculator. If you want to be more specific, you can specify domestic or international spend.
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About Spend Region: Some credit cards feature categories that only earn rewards when spending in a certain region. Changing this category to Domestic or International spend will calculate such for those cards, otherwise it's assumed by Default.

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Results

These estimates are to help guide you towards making the best decision when it comes to picking up a rewards credit card. They should be used for illustrative purposes only.