Calculate 2% Cash Back - Interactive Calculators

Cash Back Calculators
Cash back calculator for calculating 2% cash back based on spend. Also, get the details on how to calculate 2% back and a list of the best cards for earning 2% back or more on your spending.

When a rewards program or credit card is offering 2% cash back, it means that for every $1 you spend you will earn 2 cents ($0.02) in the form of cash back.

You can calculate 2% cash back multiplying 0.02 by the amount you plan on spending. So if you spend $1,000, it would be $1,000 x 0.02 which equals $20.

Use the 2% cash back calculator below to calculate cash back based on spend.

Enter the total cost of the purchase to calculate 2% cash back.
Cost
Redemption Average Dollar Value
Total Cash Back: $2.00

What's The Best 2% Cash Back Card?

There's no cash back credit card that is considered to be "The Best", but there are credit cards that are better than others. There's not that many 2% cash back credit cards available in Canada, so your options are really limited.

Depending on your needs, it may be better to grab up a 1.5% cash back credit card and then pair that with other cards to capatalize on the categories you spend the most in.

For example, you could find a credit card that earns a high return on dining and grocery and then pair that card with a 1.5% cash back or 2% cash back credit card to earn a high return on all other purchases. This is the best way to maximize your spending.

Listed below are a few of the best options when it comes to earning 2% cash back on your spending.

Best For 2% Back On Select Categories With No Annual Fee
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 2% Back On Select Categories With 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 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

FAQ

What is 2% cash back?

2% cash back means you will earn 2 cents ($0.02) for every $1 spent.

Are 2% cash back credit cards good?

2% cash back credit cards are among the best rewards cards you can have.

How much cash back will I earn with a 2% cash back card?

It depends on how much spend you run through the card and whether or not the card has an annual fee. You can use the 2% Cash Back Calculator on this page to calculate total cash back based on your spend.

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.