Calculate 5% Cash Back - Interactive Calculators

Cash Back Calculator
Cash back calculator for calculating 5% cash back based on spend. Also, get the details on how to calculate 5% back and a list of the best cards for earning 5% back or more on your spending.

When a rewards program or credit card is offering 5% cash back, it means that for every $1 you spend you will earn 5 cents ($0.05) in the form of cash back.

You can calculate 5% cash back multiplying 0.05 by the amount you plan on spending. If you were to spend $1,000, you would calculate 5% back by doing $1,000 x 0.05 which would equal $50.

Use the 5% Cash Back Calculator to calculate 5% cash back based on the value entered.

Enter the total cost of the purchase to calculate 5% cash back.
Cost
Redemption Average Dollar Value
Total Cash Back: $5.00

5% Back Credit Cards

There's not any credit cards in Canada that earns 5% back across all purchases and there's only a few select cards that offer a high 5% return across various categories.

Listed below are the few cards that earn a 5% return (or higher) on specific bonus categories. You can use the Rewards Calculator to calculate how much you can earn and compare the results side by side top cards in Canada.

Best For Flexible Travel Rewards
American Express Cobalt™ Card
American Express Cobalt™ Card
Annual Fee: $12.99 per month
Rewards Rate
5X
Earn 5X points at restaurants and grocery stores including food delivery
3X
Earn 3X points on streaming subscriptions
2X
Earn 2X points on gas, travel, and transit
1X
Earn 1X points on everything else
Up To 30,000 Points
In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in purchases on your Card. This could add up to 30,000 points in a year.
Best For 5% Back On Popular Categories
Scotiabank Gold American Express® Card
Scotiabank Gold American Express® Card
Annual Fee: $120
Rewards Rate
5X
Earn 5X Scene+ points for every $1 CAD spent on eligible grocery stores, restaurants, fast food, and drinking establishments. Includes popular food delivery and food subscriptions.
5X
Earn 5X Scene+ points for every $1 CAD spent on eligible entertainment purchases. Includes movies, theatre, and ticket agencies.
3X
Earn 3X Scene+ points for every $1 CAD spent on eligible gas and daily transit. Includes rideshare, buses, taxis, subway, and more.
3X
Earn 3X Scene+ points for every $1 CAD spent on eligible select streaming services.
1X
Earn 1X Scene+ point for every $1 spent on every other purchase.
40,000 bonus Scene+ points
Earn 20,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first 3 months from account opening. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.

If neither of these cards interest you, I recommend checking our list of the best cash back credit cards in Canada or using the Canada Credit Card Finder Tool to find which cash back cards earn you the most back based on your spend.

FAQ

How much is 5 percent cash back?

5% cash back is 5 cents back on the dollar. So for every $1 spent, you would get 5 cents back.

What is 5% cash back on $100?

5% cash back on a $100 purchase would would earn you $5 back.

How do you calculate 5% cash back?

You can calculate 5% cash back by multiplying by 0.05. For example 5% cash back on $100 would be $5 since $100 * 0.05 equals 5.

How do I know what's the best credit card for my spend?

You can use the Credit Card Finder Tool to get a list of the best credit cards based on your spend across categories.