Best Cash Back Credit Cards in Canada | July 2026

Q: What's the best cash back credit card in Canada?

The Scotia Momentum® Visa Infinite +* Card has been recognized year after year as the best cash back credit card in Canada, thanks to its 4% rate on groceries and recurring bill payments. However, the best choice depends on your spending: a no-annual-fee card like the MBNA Rewards Platinum Plus® Mastercard® may be more advantageous for smaller budgets. Compare the rates by category and annual caps before choosing.

Q: How to maximize cash back on multiple cards?

The most profitable multi-card strategy in Canada:- American Express® Cobalt® Card or Scotiabank Gold American Express® Card for groceries + restaurants + delivery (5x).; - Scotia Momentum® Visa Infinite +* Card for gas + recurring bill payments (4%).; - BMO CashBack® World Elite®* Mastercard®* for Costco purchases and recurring bills.; - Rogers® Red Mastercard® for USD purchases (2%).; This combination typically generates 3% to 4% average cash back on total spending, compared to 1% to 2% with a single card.

Q: Is there a cap on cash back?

Yes, almost all cards cap their enhanced categories:- Scotia Momentum® Visa Infinite +* Card - 4% up to $25,000/year per flagship category.; - BMO CashBack® World Elite®* Mastercard®* - 5% groceries up to $500/month; 4% transit up to $300/month; 3% gas up to $300/month.; - CIBC Dividend® Visa Infinite* Card - 4% gas + groceries up to $20,000/year combined.; - American Express® Cobalt® Card - 5x on groceries/restaurants up to $30,000/year.; Beyond the cap, the rate generally drops to 1%.

The best cash back credit cards - July 2026

What’s the best cash back credit card in Canada? The Scotia Momentum^® Visa Infinite +* Card is considered the best cash back credit card in Canada: it offers 4% on groceries and recurring bill payments, 2% on gas and transit, and 1% on all other purchases. Other excellent options include the CIBC Dividend^® Visa Infinite* Card and the TD Cash Back Visa Infinite* Card. Compare the rates and caps below to find the one that pays the most based on your spending.

These are excellent cash back credit cards in Canada.

Here is a table summarizing the different offers. For more details, read on or click on the name of a card.

CIBC Dividend^® Visa Infinite* Card

The CIBC Dividend^® Visa Infinite* Card is one of Canada’s best Visa cash back credit cards.

With this offer, get up to $400 in value:

A 10% cash back welcome bonus of up to $250 (first 4 statements)
A $50 cash back when setting up a pre-authorized payment (first 4 months)
A first year annual fee rebate (worth $120)

With this CIBC cash back credit card, you earn:

4% cash back on eligible gas, electric vehicle charging, and grocery purchases^†
2% cash back on eligible transportation and dining purchases and on eligible recurring bill payments^†
1% cash back on all other purchases^†

For example, if you spend $1,000 per month on groceries and/or gas and/or electric vehicle charging, you’ll earn $40 cash back per month or $480 cash back per year with this card for this category of purchases!

This CIBC cash back credit card offers many insurance coverages:

Auto Rental Collision/Loss Damage Insurance
$500,000 Common Carrier Accident Insurance
Out-of-Province Emergency Travel Medical Insurance
Purchase Security and Extended Protection Insurance

Scotia Momentum^® Visa Infinite +* Card

The Scotia Momentum^® VISA Infinite +* card is recognized, year after year, as one of the best cash back credit cards in Canada. Milesopedia has even named it best cash back credit card in 2026.

Currently, thanks to this promotional offer, the Scotia Momentum Visa Infinite +* Card has no annual fee for the first year, including on additional cards. And you can get 15% cash back on all your purchases for the first three months (up to $2,000 in total purchases).

It also includes a new convenient benefit for travellers: enjoy 10 GB of free GigSky global mobile data for 15 days, as well as access to Travel Essentials to use essential apps like messaging, maps, and email while on the go. Cardholders also continue to receive 1 GB of free GigSky mobile data per year, plus a 20% discount on future GigSky purchases.

With the Scotia Momentum^® VISA Infinite +* card, you get:

4% cash back on grocery purchases and recurring payments
2% cash back on gas purchases, public transit, carpooling, and food delivery
1% cash back on all other purchases

For example, if you spend $1,000 per month on grocery purchases and/or recurring payments, you will get $40 cash back per month, or $480 per year, with this card, for this purchase category. And that’s not counting the other purchases you make with this card and the benefits it offers (including its excellent insurance coverage).

If you are a renter, you could, for example, use the Scotia Momentum Visa Infinite Card on the Chexy site to pay your rent and get 4% cash back.

Also note that you can use your cash back at any time (the cash back balance must be at least $25).

BMO CashBack^® World Elite^®* Mastercard^®*

BMO CashBack^{^®} World Elite^{^®*} Mastercard^{^®*} is one of Canada’s best cash back Mastercard credit cards.

Right now, you can get up to $650 in value, including $40 cash back each month in your first year. Plus, you won’t have to pay the $139 annual fee in the first year.

Additionally, you benefit from a 0% introductory interest rate on balance transfers for 12 months, as well as a 2% balance transfer fee.

With the BMO CashBack^{^®} World Elite^{^®*} Mastercard^{^®*}, you get great cash back rates in the categories that matter most:

5% on groceries*
4% on transit including ride sharing, taxis and public transportation*
3% on gas and electric vehicle charging*
2% on recurring bill payments*
1% cash back on all other purchases, with no limit on the amount of cash back you can earn*

You also enjoy practical benefits like free membership in Mastercard Travel Pass provided by DragonPass, free roadside assistance services, discounts on car rentals with National, Alamo and Enterprise, as well as comprehensive travel and purchase insurance coverage.

Finally, enjoy six months of Instacart+ membership and a monthly $10 Instacart credit when you sign up with your eligible BMO credit card.

PC^® World Elite^® Mastercard^®

The PC World Elite Mastercard currently offers a 20,000 PC Optimum points welcome bonus after spending $50 in the first two months, with no annual fee. With this Card:

4.5% back in points at Shoppers Drug Mart^{^®} and Pharmaprix^{^®5}
Get 3% back in points at Loblaw banner grocery stores including Loblaws^{^®}, No Frills^{^®}, Real Canadian Superstore^{^®}, Maxi^{^®} and at Joe Fresh.
At least 3¢ per litre back in points on fuel at Esso and Mobil
1% back in points per dollar spent everywhere else

This means you get between 1% and 4.5% back on your purchases made at PC Optimum stores. You can then use your points for discounts at checkout or convert them into $7 credit per 10,000 points directly on your card balance.

Additionally, this card includes travel medical insurance, rental car collision insurance, a concierge service, and 90-day purchase assurance—rare benefits for a no-annual-fee card.

Neo World Elite^® Mastercard – Gas & Grocery

Maximize your rewards with the Neo World Elite^® Mastercard – Gas & Grocery. Earn up to 5% cash back on groceries, 4% on recurring payments, 3% on gas and electric vehicle charging, and 1% on everything else.

Benefit from comprehensive insurance coverage, including extended warranty, purchase protection, and travel insurance. In addition, receive a DragonPass membership for access to airport lounges worldwide.

With an instant credit limit of up to $30,000 and additional cash back at over 10,000 Neo partners, your essential spending becomes more rewarding.

Travel insurance is not available to Quebec residents. DragonPass membership is included; fees apply for each lounge visit.

TD Cash Back Visa Infinite* Card

With the TD Cash Back Visa Infinite* Card, you earn 3% in Cash Back Dollars on:

Grocery stores
Gas, EV charging and public transit
Recurring bills, streaming services, digital media and games

And 1% cash back on all other purchases.

It’s the best TD cash back credit card, especially for gas purchases.

With this new welcome offer, you could earn 10% cash back on gas and grocery purchases and pre-authorized payments for the first three months (up to $3,500 in purchases). So you can earn up to $350 cash back!

Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.

Finally, you have good insurance coverage, such as travel medical insurance, delayed or lost baggage insurance, collision/loss damage insurance for car rentals and mobile device insurance.

American Express Cobalt^® Card

The American Express Cobalt^® Card is the best credit card from American Express, whether you want points for travel or cash back.

The welcome bonus is distributed monthly for the first 12 months. You’ll earn 1,250 Membership Rewards points for every $750 in purchases charged to your card during the month (whether in the 1X, 2X, 3X or 5X category). That’s up to 15,000 Membership Rewards points.

You can easily use these points as statement credits for everyday or travel purchases. The value is the same for both: 1,000 points = $10.

Alternatively, transfer them to Aeroplan points, Avios (British Airways/Qatar Airways), Flying Blue, Marriott Bonvoy, or Hilton Honors.

For example, with this welcome offer, if you decide to transfer your Membership Rewards points to a partner loyalty program, you would have the choice of earning up to:

15,000 Aeroplan points
15,000 Avios points
15,000 Flying Blue Miles
18,000 Marriott Bonvoy points

With the American Express Cobalt^® Card, you can earn between 1 and 5 points per dollar:

Category	Points per dollar
Grocery (Métro, IGA, Sobeys, Super C, etc.)	5
Home food delivery	5
Restaurants and bars	5
Convenience stores	5
Streaming services	3
Service station	2
Transport	2
Travel	1
Other	1

This is a 1 to 5% return on all these purchases.

For example, if you spend $1,000 per month on groceries and/or restaurants and/or food delivery, you’ll earn $50 cash back per month, or $600 cash back per year with this card for this category of purchases!

And if you decide to transfer your points to other programs like Aeroplan, you could get even more value!

In addition, this card provides excellent insurance coverage: rental car theft and damage, baggage delay, lost or stolen baggage, flight delay, $250,000 travel accident, hotel or motel burglary, Mobile Device Insurance, Purchase Security, Purchase Protection Insurance.

Like all American Express Canada Cards, there is no minimum income requirement.

MBNA Rewards World Elite^® Mastercard^®

With the MBNA Rewards World Elite^® Mastercard^®, you can earn 5 points per dollar of purchases for:

Dining
Grocery purchases
Digital media purchases (Netflix, Spotify, etc.)
Memberships
Household utility purchases (electricity, etc.)

Everywhere else, you will get 1 point per dollar.

Enough to make the MBNA Rewards World Elite Mastercard the best MBNA credit card for restaurants, groceries, digital media, subscriptions and household utilities.

Knowing that Mastercard recognizes Walmart Supercenters as grocery stores, this is the best credit card for Walmart customers!

Plus, depending on your province of residence, you’ll get a welcome bonus of between 20,000 and 30,000 points, a value of $200 to $300!

And each year, you will receive Birthday Bonus Points equal to 10% of the total number of Points the Account earned in the 12 months before the month of your birthday, to a maximum Birthday Bonus each year of 15,000 Points.

Frequent Asked Questions about credit cards

Here are some frequently asked questions in the milesopedia community about credit cards in Canada.

What’s the best cash back credit card in Canada?

The Scotia Momentum^® Visa Infinite +* Card has been recognized year after year as the best cash back credit card in Canada, thanks to its 4% rate on groceries and recurring bill payments. However, the best choice depends on your spending: a no-annual-fee card like the MBNA Rewards Platinum Plus^® Mastercard^® may be more advantageous for smaller budgets. Compare the rates by category and annual caps before choosing.

Why choose a credit card with cash back?

For every dollar you spend, your cash back credit card gives you a discount that can range from 0.5% to 10%! That’s why it’s so important to choose your cash back credit card carefully, because it could save you a lot more than one of its competitors.

Here are some great cash-back credit cards in Canada:

When would I receive my credit card cash back?

Depending on the financial institution, your cashback will either be deposited in your bank account or applied to your credit card statement. Different institutions, different conditions that will influence your choice.

Some banks offer annual rebates, others monthly, and still others at any time once a minimum rebate amount of $10 to $25 has been reached.

Check out this guide to get your cash back with BMO.

Why choose a cash back credit card with an annual fee?

An annual fee comes with benefits. Depending on the offer, you’ll find: a welcome bonus, a higher percentage of discounts, no or lower limits on eligible purchases, better insurance, and specific benefits, for example, in the hotel sector. This is the case, for example, with the Scotia Momentum Visa Infinite + Card or the CIBC Dividend^® Visa Infinite* Card.

Compare cards to match your lifestyle.

Is it worthwhile to pay some interest fess on a cash back credit card?

As with other types of credit card, to take advantage of the benefits, you must reset the balance to 0 each month. No cashback could offset the interest costs incurred.

What’s the best credit card in Canada?

There are over 200 credit cards in Canada. There is no “one best credit card” in Canada.

Several credit cards can match your needs:

How to maximize cash back on multiple cards?

The most profitable multi-card strategy in Canada:

American Express^® Cobalt^® Card or Scotiabank Gold American Express^® Card for groceries + restaurants + delivery (5x).
Scotia Momentum^® Visa Infinite +* Card for gas + recurring bill payments (4%).
BMO CashBack^® World Elite^®* Mastercard^®* for Costco purchases and recurring bills.
Rogers^® Red Mastercard^® for USD purchases (2%).

This combination typically generates 3% to 4% average cash back on total spending, compared to 1% to 2% with a single card.

Is there a cap on cash back?

Yes, almost all cards cap their enhanced categories:

Scotia Momentum^® Visa Infinite +* Card – 4% up to $25,000/year per flagship category.
BMO CashBack^® World Elite^®* Mastercard^®* – 5% groceries up to $500/month; 4% transit up to $300/month; 3% gas up to $300/month.
CIBC Dividend^® Visa Infinite* Card – 4% gas + groceries up to $20,000/year combined.
American Express^® Cobalt^® Card – 5x on groceries/restaurants up to $30,000/year.

Beyond the cap, the rate generally drops to 1%.

Is a card with an annual fee profitable for cash back?

Yes, in most cases. Comparative example for an annual budget of $30,000:

Tangerine^® Money-Back World Mastercard^®* (no fee) – about $360 in cash back (net yield 1.2%).
American Express^® Cobalt^® Card ($156/year) – about $800 in cash back ÷ $156 fee = $644 net, or 2.15% net.
Scotia Momentum^® Visa Infinite +* Card ($120/year) – about $700 in cash back ÷ $120 fee = $580 net, or 1.93% net.

The break-even point for a card with a fee is generally around $10,000-$15,000 in annual spending in bonus categories.