Best Cash Back Credit Cards Canada - Compare & Calculate Rewards

October 2022
Get our top picks for best cash back credit cards in Canada and calculate which cards will earn you the most cash back based on your spend.
Last Updated 2022-03-07

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 For Flexibility
Annual Fee: $0
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.
Earn 15% Back
Earn an extra 15% back (up to $150) when you spend up to $1,000 in everyday purchases within your first 2 months.
Best For Cash Back + Travel Benefits
Tangerine World Mastercard®
Tangerine World Mastercard®
Annual Fee: $0
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.
Earn 15% Back
Earn an extra 15% back* (up to $150) when you spend up to $1,000 in everyday purchases within your first 2 months.
Best For Dining
Simplii Financial™ Cash Back Visa Card
Simplii Financial™ Cash Back Visa Card
Annual Fee: $0
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.
Best For Gas
CIBC Dividend® Visa Infinite Card
CIBC Dividend® Visa Infinite Card
Annual Fee: $120 (first year rebated)
Rewards Rate
4%
Earn 4% cash back on eligible gas and groceries
2%
Earn 2% cash back on eligible transportation, dining and recurring payments
1%
Earn 1% cash back on all other eligible purchases
Best For Bills
Scotia Momentum® Visa Infinite Card
Scotia Momentum® Visa Infinite Card
Annual Fee: $120
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.
Best For Groceries
BMO CashBack® Mastercard®
BMO CashBack® Mastercard®
Annual Fee: $0
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
Best For 2% Cash Back
SimplyCash™ Card from American Express
SimplyCash™ Card from American Express
Annual Fee: $0
Rewards Rate
1.25%
Earn an unlimited 1.25% cash back on all purchases
Best For Flat-Rate Earnings
SimplyCash™ Preferred Card from American Express
SimplyCash™ Preferred Card from American Express
Annual Fee: $99
Rewards Rate
2%
Earn an unlimited 2% cash back on all purchases
Best For Transit
Cash Back World Elite® Mastercard®
Cash Back World Elite® Mastercard®
Annual Fee: $100
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
Best For No Foreign Transaction Fees
Home Trust Preferred Visa Card
Home Trust Preferred Visa Card
Annual Fee: $0
Rewards Rate
1%
Earn 1% cash back on all eligible purchases to get more out of your everyday spending

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 For Flexibility

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.

Best For Cash Back + Travel Benefits

Tangerine World Mastercard
Tangerine World Mastercard

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 has the same earning structure as the Tangerine Money-Back Credit Card meaning that you'll earn 2% cash back on two categories of your choice with the chance to earn 2% cash back on a third category if you deposit your rewards into a Tangerine Savings Account.

The big difference between the two cards are the travel benefits. With the Tangerine World Mastercard you'll have access to Mastercard Airport Experiences Provided by LoungeKey which gives you exclusive dining, retail, and spa offers in over 400 airports worldwide along with access to over 1,000 lounges at $32 USD per visit.

You'll also receive rental car collision/loss damange when you use the card to pay for your rental, up to $1,000 in mobile device insurance, access to Mastercard Travel Rewards for additional cash back, and much more.

Best 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.

Best For 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.

Best For 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.

Best 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.

Best For 2% Cash Back

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.

Best For Flat-Rate Earnings

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.

Best 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.

Best For 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.

Best Cash Back Credit Cards Summary

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

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.

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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.

All spend entered in the fields above will carry over to every credit card rewards calculator on the site so there's no need to re-enter spend.