What is 2% cash back?
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.
How do you calculate 2% 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.
2% cash back calculator
Use the 2% cash back calculator below to calculate cash back based on spend.
| Total Cash Back: | $2.00 |
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Best 2% back cards
There is a small handful of credit cards available in Canada that can earn you 2% back on select purchases. Here are a few of those cards:
- Tangerine Money-Back Credit Card - Earn 2% back on two categories of your choice and get a third 2% category when you get your rewards deposited into a savings account. No annual fee.
- Tangerine World Mastercard - Earn 2% back on two categories of your choice and get a third 2% category when you get your rewards deposited into a savings account. Plus receive airport lounge access and travel insurance. No annual fee.
- Rogers Mastercard® - Earn an unlimited 2% back on all eligible purchases if you have 1 qualifying service with Rogers, Fido, or Shaw. No annual fee.
- SimplyCash® Preferred Card from American Express - Earn 4% cash back on gas and grocery purchases (cap applies) and 2% back on all other purchases. $9.99 monthly fee.
What's the best cash back credit card?
Which cash back credit card is best for you will depend on a large number of factors — how much you spend per month, the type of benefits you're looking for, preferred banks (if any), and more.
Use our cash back credit card calculator to find cards that will earn you the most cash back based on your spending habits and other criteria. You can then click on cards to learn more about them and to see if they fit what you're looking for.
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Clear all of the spend amounts entered into the calculator.
No Results. This is usually due to:
- There's no good card options based on the spend entered.
- The calculator is having a brain-fart and is not calculating rewards properly.
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Results
Listed below are the results based on what you entered into the tool above. These estimates are to help guide you towards making the best decision when it comes to picking up a rewards credit card.
You can click on "Show Calculations" to see a breakdown of how the rewards were calculated, click on the card itself to learn more/apply through our partners (big thanks if you do!), or click on any of the other links to learn more about the card and it's rewards.
Do note that some of the calculations are rounded so it is possible that the estimated values may be off by a point or two when added up.
Remember that this particular tool uses our point/mile valuations, the intro bonuses we have in the database, and includes the maximum (calculable) bonuses for each card. If you want to have control over these options and much more, slide over to the Rewards Credit Card Directory & Calculator.
These calculations should be used for illustrative purposes only.
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.
