When a rewards program or credit card is offering 3% cash back, it means that for every $1 you spend you will earn 3 cents ($0.03) in the form of cash back.
You can calculate 3% cash back multiplying 0.03 by the amount you plan on spending. So if you spend $1,000, it would be $1,000 x 0.03 which equals $30.
Use the 3% cash back calculator below to calculate cash back based on spend.
|Redemption||Average Dollar Value|
|Total Cash Back:||$3.00|
What's The Best 3% Cash Back Card?
There are no credit cards in Canada that offers 3% cash back across all purchases, but there are plenty of credit cards that earn 3% cash back when spending in certain categories.
Listed below are a handful of the best credit cards for earning a 3% return or more on your purchases. You can click on the Rewards Calculator to find out how much you can earn and compare the results side by side top cards.
If none 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.
What is 3% cash back?
3% cash back means you will earn 3 cents ($0.03) back for every $1 spent.
How do I know what's the best credit card for my spend?
You can use the Search For Credit Cards By Spend calculator to get a list of the best credit cards based on your spend across categories.