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.
|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.
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.