Best Cash Back Credit Cards 2021 - Calculate Rewards (Canada)

Calculate which Canada credit cards will earn you the most cash back, get our top picks for the best cards of 2021, and compare them side by side.
Last Updated 2021-08-12
Unlimited 2% Cash Rewards Paid Monthly With No Annual Fee. Earn 15% Cash Back When You Apply Today.

The best cash back credit cards are the ones that earn you the most cash back based on how you spend your money. Review the best cash back credit cards in Canada and calculate which cards can earn you the most cash back and best return based on your spend.

Best Cash Back Credit Cards In Canada

Tangerine Money-Back Credit Card
Best Flexible No-Fee Cash Back Card
CIBC Dividend Visa Infinite Card
Best Cash Back Card For Groceries & Gas
Scotia Momentum® Visa Infinite Card
Best Cash Back Card For Groceries & Bills
BMO CashBack Mastercard
Best No-Fee Cash Back Card For Groceries
Simplii Financial Cash Back Visa
Best Cash Back Card For Dining
Home Trust Preferred Visa Card
Best Cash Back Card With No Foreign Transaction Fees

Cash back is the simplest of rewards due to the fact that you know how much your rewards are worth. There's no need to research best redemption options or worry about transferring rewards to partners to maximize your value. A dollar in cash back will typically be equal to a dollar in redeemable cash.

This page details our top picks for the best cash back credit cards in Canada. There's also a Cash Back Calculator at the bottom of this page that you can use to estimate which cash back cards can earn you the best average return on your spend.

The cards on this page are updated periodically. New cards are introduced from time to time and the benefits of current cards could change at any time.

You can also use our Credit Card Finder Tool to search by spend across all credit cards in our database.


Best Flexible No-Fee Cash Back Card

Tangerine Money-Back Credit Card
Tangerine Money-Back Credit Card

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.

It earns 2% cash back on two select categories of your choice. If you choose to have your rewards deposited into a Tangerine Savings Account, you'll be able to choose a third 2% cash back category for even more rewards.

Selectable categories include grocery, restaurant, hotel/motel, gas station, home improvements, and more. There's no limit to the amount of cash back you can earn spending in these categories.

Tangerine Money-Back Credit Card
Tangerine Money-Back Credit Card
Intro Bonus
Earn an extra 15% back
Rewards Rate
2%
Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-Back Categories of your choice
2%
Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.
0.5%
Earn 0.5% Money-Back Rewards on all other purchases.
Main Card Highlights
  • Earn an extra 15% back (up to $150) on up to $1,000 of your everyday purchases in the first 2 months with a Tangerine Money-Back Credit Card.
  • Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
  • Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.
  • No limit on the amount of Money-Back Rewards you can earn.
  • Change your 2% Money-Back Categories to suit your spending.
  • Extended warranty and purchase protection.
  • Income Requirement: $15,000/year Individual.
  • Want the same great earnings at no annual fee, but with additional benefits? Check out the Tangerine World Mastercard®.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best Cash Back Card For Groceries & Gas

CIBC Dividend Visa Infinite Card
CIBC Dividend Visa Infinite Card

If you're looking to maximize cash back on grocery and gas spending, the CIBC Dividend Visa Infinite Card is a great option.

It earns 4% back on gas and grocery purchases, 2% back on transportation, dining, and recurring payments, and 1% back on everything else. Cash back can easily be redeemed at anytime through CIBC Online and Mobile Banking.

Other benefits of the card include up to 10 cent per litre in savings at Chevron, Ultramar and Pioneer gas stations, access to the Visa Infinite program, and valuable insurance coverage including mobile device insurance and emergency travel medical insurance.

CIBC Dividend® Visa Infinite Card
CIBC Dividend® Visa Infinite Card
Intro Bonus
View Issuer's Website
Rewards Rate
4%
Earn 4% cash back on gas and grocery purchases.
2%
Earn 2% cash back on transportation, dining and recurring payments.
1%
Earn 1% cash back on everything else.
Main Card Highlights
  • Get your cash back anytime through CIBC Online and Mobile Banking®.
  • Get valuable insurance coverage, including mobile device and emergency travel medical.
  • Save up to 10 cents per litre at Chevron, Ultramar and Pioneer gas stations when you link your card with Journie Rewards.
  • Access hotel benefits, unique dining events and 24-hour complimentary concierge services with the Visa Infinite® program.
  • Minimum Income Requirements: $60,000 Individual / $100,000 Household
Annual Fee
$120 (first year rebated)
Authorized User Fee
$30 per card (first year rebated)
Foreign Transaction Fee
2.5%

Best Cash Back Card For Groceries & Bills

Scotia Momentum® Visa Infinite Card
Scotia Momentum® Visa Infinite Card

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.

It earns 4% back on grocery, recurring bill payments, and subscription purchases, 2% back on gas and daily transit purchases, and 1% back on everything else.

Benefits include discounts on Avis and Budget car rentals, access to Visa Infinite benefits, and a large range of insurance coverage including trip cancellation and trip interruption insurance.

Scotia Momentum® Visa Infinite Card
Scotia Momentum® Visa Infinite Card
Intro Bonus
View Issuer's Website
Rewards Rate
4%
Earn 4% for every $1 you spend on grocery store purchases, recurring bill payments, and subscription purchases.
2%
Earn 2% for every $1 you spend on gas purchases and daily transit purchases.
1%
Earn 1% cash back on all other purchases with no cash back limit.
Main Card Highlights
  • Take advantage of Visa Infinite Card benefits such as Visa Infinite Concierge Service, Visa Infinite Hotel Collection, and Visa Infinite Dining and Wine Country program.
  • Save up to 25% off base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S. when you pay with your Scotia Momentum® Visa Infinite* Card.
  • Protect your mobile device when you use your card to pay for your new device.
  • Includes 7 types of insurance including Trip Cancellation and Trip Interruption Insurance, Travel Emergency Medical Insurance, Flight Delay Insurance, and Rental Car Collision Loss/Damage Insurance.
Annual Fee
$120 (First-year annual fee waived)
Authorized User Fee
$50 (First-year annual fee waived)
Foreign Transaction Fee
2.5%

Best No-Fee Cash Back Card For Groceries

BMO CashBack Mastercard
BMO CashBack Mastercard

Looking to avoid annual fees while maximizing your grocery spend? Consider picking up the BMO Cashback Mastercard.

The card earns 3% back on grocery purchases, 1% back on recurring bill payments, and 0.5% back on everything else. Cash back earned with the card can be redeemed at any time you want for as little as $1.

It's a great option if you spend $500 or less per month on grocery as the rewards for the category are capped at $500 per cycle. After that cap is hit, you'll earn 0.5% back until the next billing cycle.

BMO CashBack® Mastercard®
BMO CashBack® Mastercard®
Intro Bonus
View Issuer's Website
Rewards Rate
3%
Earn 3% cash back on grocery purchases
1%
Earn 1% cash back on recurring bill payments such as streaming services, subscriptions or monthly utilities
0.5%
Earn 0.5% cash back on all other purchases
Main Card Highlights
  • Your cash back rewards never expire as long as your account is open and in good standing
  • No waiting! Redeem you cash back any time you want for as little as $1
  • Save up to 25% off rentals at participating National Car Rental and Alamo Rent a Car locations.
  • Get 15% off admission to Cirque du Soleil shows touring Canada, and 20% off resident shows in Las Vegas.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best Cash Back Card For Dining

Simplii Financial Cash Back Visa
Simplii Financial Cash Back Visa

If you enjoy dining out at restaurants, you'll enjoy the Simplii Financial Cash Back Visa Card.

It earns 4% cash back on up to $5,000 in annual purchases at restaurants, bars, and coffee shops. It also earns 1.5% cash back on up to $15,000 in annual purchases across the categories of gas, grocery, drugstore, and pre-authorized payments.

Overall, these are pretty great earning rates for a card with no annual fee. On top of that, the card offers purchase security and extended protection insurance which is another big plus.

Simplii Financial™ Cash Back Visa Card
Simplii Financial™ Cash Back Visa Card
Intro Bonus
View Issuer's Website
Rewards Rate
4%
Earn 4% cash back on eligible restaurant, bar and coffee shop purchases, up to $5,000 per year.
1.5%
Earn 1.5% cash back on on eligible gas, groceries, drugstore purchases and pre-authorized payments, up to $15,000 per year.
0.5%
Earn 0.5% cash back on all other credit card purchases with no limit on how much you can earn.
Main Card Highlights
  • Dine at restaurants, fill your gas tank, buy groceries — there's no limit to the total cash back you can earn
  • Get all the benefits of the Simplii Financial Cash Back Visa Card with no annual fee.
  • Add up to 3 additional cardholders and earn cash back faster. Don't worry, you can set spending limits.
  • Add your credit card to your mobile wallet and pay with Apple Pay, Google Pay™ or Samsung Pay®.
  • Protection your purchases with Purchase Security and Extended Protection Insurance.
  • Minimum Income Requirements: $15,000 Household
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best 2% Cash Back Card

SimplyCash™ Preferred Card from American Express
SimplyCash™ Preferred Card from American Express

The SimplyCash Preferred Card from American Express is one of the best flat-rate rewards credit cards in Canada.

It earns an unlimited 2% cash back on all purchases ran through the card, so there's no bonus categories to worry. In order to make this card worth it, you'll want to spend This is a great option if you're looking for a "one and done" rewards card that can earn you a solid return no matter where you use it.

The card also offers a handful of travel and purchase insurance such as which adds even more value to the card.

SimplyCash™ Preferred Card from American Express
SimplyCash™ Preferred Card from American Express
Intro Bonus
View Issuer's Website
Rewards Rate
2%
Earn 2% cash back on all purchases ran through the Card.
Main Card Highlights
  • As an eligible Basic Cardmember, you could earn up to a maximum annual referral bonus of $1,500 cash back for approved referrals.
  • Enjoy exclusive ticket access, virtual events, live performances and more with American Express® Experiences.
  • Road trip or flight, you can be protected when you book travel with your card. Includes Out of Province/Country Emergency Medical Insurance, Flight Delay Insurance, Baggage Delay Insurance, and more.
  • Make everyday purchases more rewarding with offers that are tailored to you for dining, shopping, and more through the Amex App or Online Services with AMEX Offers.
Annual Fee
$99
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best No-Fee Flat Rate Cash Back Card

SimplyCash™ Card from American Express
SimplyCash™ Card from American Express

If you want to earn cash back at a flat rate, but don't spend enough to warrant having the SimplyCash Preferred Card, you can consider the SimplyCash Card from American Express.

The card earns an unlimited 1.25% cash back on all purchases and has no annual fee. It's the better card over the Preferred version if you plan on spending less than $1,100 per month.

The card also offers a small amount of coverage including purchase protection plan and buyer's assurance protection plan.

SimplyCash™ Card from American Express
SimplyCash™ Card from American Express
Intro Bonus
View Issuer's Website
Rewards Rate
1.25%
Earn an unlimited 1.25% cash back on all purchases ran through the Card.
Main Card Highlights
  • As an eligible Basic Cardmember, you could earn up to a maximum annual referral bonus of $750 cash back for approved referrals.
  • Enjoy exclusive ticket access, virtual events, live performances and more with American Express® Experiences.
  • Make everyday purchases more rewarding with offers that are tailored to you for dining, shopping, and more through the Amex App or Online Services with AMEX Offers.
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
2.5%

Best Cash Back Card For Transit

Desjardins Cash Back World Elite® Mastercard®
Desjardins Cash Back World Elite® Mastercard®

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 earns 4% back on grocery store purchases, 3% back on restaurant, entertainment, and public transportation purchases, and 1% back on everything else. Rewards are automatically credited when you accumulate $100 in cash back.

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.

Cash Back World Elite® Mastercard®
Cash Back World Elite® Mastercard®
Intro Bonus
View Issuer's Website
Rewards Rate
4%
Earn 4% cash back on grocery store purchases
3%
Earn 3% cash back on restaurant, entertainment, and public transportation purchases
1%
Earn 1% cash back on all other purchases
Main Card Highlights
  • Get your rewards automatically credited when you accumulate $100 cash back.
  • Travel insurance for trips up to 3 days including emergency health care coverage, trip cancellation, baggage insurance, and travel assistance.
  • World Elite Mastercard benefits including access to airport lounges and restaurants through LoungeKey, additional cash back with Mastercard Travel Rewards, and VIP experiences around the world with Priceless Cities®.
  • Stay connected with Boingo Wi-Fi hotspots worldwide.
  • Get up to 25% off your Hertz car rental and up to 10% off at Thrifty and Dollar.
  • Get covered for up to 48 consecutive days in the event your rental car is damaged or stolen.
  • Get up to $1,000 to cover the loss, theft, accidental damage, or mechanical failure of mobile devices purchases with this card.
  • Be protected with purchase protection for some items and extended warranty.
  • Minimum Income Requirements: $80,000 Individual, $150,000 Household, or $400,000 in Assets Under Management
Annual Fee
$100
Authorized User Fee
$0 ($30/year per card for non-members)
Foreign Transaction Fee
2.5%

Best Cash Back Card With No Foreign Transaction Fees

Home Trust Preferred Visa Card
Home Trust Preferred Visa Card

There's a handful of credit cards that have no foreign transaction fees, most of which are travel rewards cards. The exception to this being the Home Trust Preferred Visa Card.

It earns 1% back on all purchases ran through the card and has no annual fee and no foreign transaction fees. The card also comes with purchase security which can protect your purchases against theft and damage for 90 days from the date of purchase.

Home Trust Preferred Visa Card
Home Trust Preferred Visa Card
Intro Bonus
View Issuer's Website
Rewards Rate
1%
Earn 1% cash back on all eligible purchases to get more out of your everyday spending
Main Card Highlights
  • Pay no exchange fees on foreign currency transactions — even when you shop online
  • The versatile benefits of the Home Trust Preferred Visa are all yours for no annual fee
  • Purchase Security insures eligible items against theft or damage for 90 days from the date of purchase
  • Request a guaranteed hotel reservation — your room will be held even if you arrive late
Annual Fee
$0
Authorized User Fee
$0
Foreign Transaction Fee
0%

Best Cash Back Credit Cards Summary

Credit Card Annual Fee Best For Learn More
Tangerine Money-Back Credit Card $0 Best Flexible No-Fee Cash Back Card Learn More
CIBC Dividend Visa Infinite Card $120 (first year rebated) Best Cash Back Card For Groceries & Gas Learn More
Scotia Momentum® Visa Infinite Card $120 (First-year annual fee waived) Best Cash Back Card For Groceries & Bills Learn More
BMO CashBack® Mastercard® $0 Best No-Fee Cash Back Card For Groceries Learn More
Simplii Financial™ Cash Back Visa Card $0 Best Cash Back Card For Dining Learn More
SimplyCash™ Preferred Card from American Express $99 Best 2% Cash Back Card Learn More
SimplyCash™ Card from American Express $0 Best No-Fee Flat Rate Cash Back Card Learn More
Desjardins Cash Back World Elite® Mastercard® $100 Best Cash Back Card For Transit Learn More
Home Trust Preferred Visa Card $0 Best Cash Back Card With No Foreign Transaction Fees Learn More

Best Cash Back Credit Cards Calculator

The Best Cash Back Credit Cards Calculator will give you an idea of which credit cards will offer you the most cash back based on your spend.

Results will be sorted by net return which is the average value of the rewards earned, plus annual credits, and minus annual fees.

The results will consist of top-rated cash back credit cards, so credit cards outside of our top picks may also appear in the list depending on the spend you enter.

Add Categories
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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Category Spend

Enter your spend per month, year, or quarter for the listed categories. You can then click Get The Best Cards to get the list of results.
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Income Requirements

Some credit cards require certain income requirements to be met either based on your individual income or the income of the entire household. You can set a max income to limit which cards are listed in the result. Cards that require an income limit over the amount selected will not be included in the results.
Income Type
Income Maximum

Spend Duration

You can set the duration of the spend for the categories listed above. If you're looking for the best card for only n-months worth of spend, this is where you change the option.

If you want to calculate based on a full year of spending, you can leave it set to a duration of '1 Year'.

Adjust Transferable Points

Some rewards programs allow you to transfer your earned points to airline, hotel, and other loyalty programs. These programs will generally have higher point values when doing such.

Since these matter so much when choosing a credit card, you can enter your own point value for these programs to include in the calculations.

When set to zero (0), they will calculate based on The Point Calculator's valuations. Any non-zero value you enter will be used in the calculations.

You can click on the to learn more about the value of the currency when applicable (opens in a new tab/window). Depending on the calculations, all programs listed below may not be featured in the results.

Results

Note: Results may take a few seconds to generate after doing a search. The results and values listed are estimates to help guide you towards making the best decision. They are for illustrative purposes only.
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