Best Cash Back Credit Cards
These credit cards are the best cashback 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 the best Visa credit cards with cash back in Canada. The minimum annual income required for this card is $60,000 (personal) or $100,000 (household). With this Card, you earn:
- 4% cash back on eligible gas and groceries purchases
- 2% cash back on eligible transportation, dining purchases and recurring payments
- 1% on all other purchases
For a limited time, earn 10% cash back on all purchases up to $2,500 for the first 4 statements. And you’ll get a first-year annual fee rebate!
And this card has comprehensive insurance:
- Auto Rental Collision/Loss Damage Insurance
- $500,000 Common Carrier Accident Insurance
- Flight Delay and Baggage Insurance
- Trip Interruption Insurance
- Out-of-Province Emergency Travel Medical Insurance
- Purchase Security and Extended Protection Insurance
BMO® CashBack® World Elite®* Mastercard®*
The BMO® CashBack® World Elite®* Mastercard®* is one of the best cash back Mastercard credit card in Canada.
For a limited time, you will earn 10% cash back on all purchases for the first three months (up to $260 cash back). Besides, the annual fee is waived in the first year!
With the BMO® CashBack® World Elite®* Mastercard®*, you earn between 2% and 5% cash back on many spending categories:
- 5% on grocery purchases (on the first $500 you spend monthly)
- 4% on transit (on the first $300 you spend monthly)
- 3% on gas and electric vehicle charging (on the first $300 you spend monthly)
- 2% on recurring bill payments (on the first $500 you spend monthly)
Everywhere else, you’ll earn 1% cash back, including at Costco.
Finally, it is one of the only credit cards in its category to offer an extended warranty of 2 additional years.
Scotia Momentum® VISA Infinite* card
The Scotia Infinite Momentum Visa Card is recognized year after year as one of the best cashback credit cards in Canada.
Currently, there is no annual fee in the first year, including on additional cards. And you can earn 10% cash back on all purchases for the first three months (up to $2,000 in total purchases). This offer ends on October 31, 2022.
With the Scotia Momentum® VISA Infinite* card, you get:
- 4% on grocery purchases and on periodic payments
- 2% on gas purchases and public transportation
- 1% cash back on everything else
The Scotia Momentum® VISA Infinite* card is an excellent Visa credit card for cash back rewards.
And its insurance benefits are excellent!
American Express Cobalt® Card
The American Express Cobalt® Card is the best credit card from American Express, whether you want points for travel or cashback.
The welcome bonus is distributed monthly for the first 12 months. You earn 2,500 Membership Rewards points for every $500 in purchases charged to your card during the month (whether in the 1X, 2X, 3X or 5X category). That’s up to 30,000 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.
Or, you can transfer your points to Aeroplan, Marriott Bonvoy, or Hilton Honors. With the American Express Cobalt® Card, you can earn between 1 and 5 points per dollar:
| Category | Points per dollar |
| Grocery | 5 |
| Food delivery | 5 |
| Restaurants and bars | 5 |
| Convenience stores | 5 |
| Streaming subscriptions | 3 |
| Gas station | 2 |
| Gas & Transit | 2 |
| Travel | 2 |
| Other | 1 |
This is a 1 to 5% return on all these purchases.
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.
Find out in this article how to maximize the welcome bonus to get 60,000 points with your everyday spending. This offer may be withdrawn at any time.
Like all American Express Canada Cards, there is no minimum income requirement.
BMO® AIR MILES® World Elite®* Mastercard®*
With this exclusive offer for the BMO® AIR MILES® World Elite®* Mastercard®*, you can earn 3,000 AIR MILES Bonus Miles after $3,000 in Card purchases, representing a $310 cash value. Besides, the annual fee is waived in the first year!
With this card, you earn 3 miles for every $12 spent at participating AIR MILES Partners. Everywhere else, you’ll earn 1 Mile for every $12 spent, including at Costco and Walmart. And it’s the only AIR MILES credit card in Canada to offer a 15% discount on AIR MILES flights within North America with no blackout periods.
The BMO® AIR MILES® World Elite®* Mastercard®* card also offers:
- Premium insurance for your travels or purchases
- Double the miles for car rentals with National or Alamo
- Concierge services
HSBC Cash Rewards Mastercard®
With the HSBC Cash Rewards Mastercard®, you can earn $125 cash back as a welcome bonus with no minimum spending (for Quebec).
With this no annual fee credit card, you get:
- 1.5% cash back per dollar on online purchases
- 1% cash back per dollar on gas, grocery and drugstore purchases
- 0.5% cash back per dollar on all other everyday purchases
Plus, you get Mobile Device Insurance, Purchase Insurance and Extended Warranty Insurance.
CIBC Dividend Platinum® Visa* Card
If you don’t meet the income requirements for the CIBC Dividend® Visa Infinite* Card, you could apply for the CIBC Dividend® Platinum Visa* Card. The minimum annual income required for this card is $15,000 (household).
With the CIBC Dividend® Platinum Visa* Card, you get:
- 3% cash back on eligible gas and grocery purchases
- 2% cash back on eligible transportation, dining purchases and recurring payments
- 1% on all other purchases
Currently, you get 10% cash back (up to $250)*. And you’ll get a first-year annual fee rebate!† And this card has comprehensive insurance:
- Auto Rental Collision/Loss Damage Insurance
- $500,000 Common Carrier Accident Insurance
- Purchase Security and Extended Protection Insurance
MBNA Rewards Platinum Plus® Mastercard®
The MBNA Smart Cash Platinum Plus® Mastercard® is one of Canada’s best cashback credit cards with no annual fee.
With this card you can get 2% for some purchases:
- gas
- grocery stores
Until the total gas and grocery purchases in the applicable month reaches $500. And 0.5% everywhere else.
For a limited time, you can get 5% cash back for the first 6 months, up to $150.
TD Cash Back Visa Infinite* Card
With the TD Cash Back Visa Infinite* Card, you earn 3% cash back on:
- Grocery stores
- Gas stations
- Recurring bill payments
And 1% cash back on all other purchases.
It’s the best TD cash back credit card.
With this new welcome offer, you could earn 10% cash back on all purchases for the first 3 months (up to a total spend of $2,000). After your first $2,000 in Purchases, Gas Purchases, Grocery Purchases and Pre-Authorized Payments will continue to earn 6% up to a total spend of $3,500 for the first 3 months. That’s a total cash back of $290!
Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card has no annual fee and offers cash back.
Through September 30, 2022, you can earn an additional 15% back (up to $150) when you spend up to $1,000 on everyday purchases during the first 2 months.
You can choose two to three categories that interest you (groceries, gas, furniture, home improvement, recurring bills, pharmacy, etc.) to earn 2% cash back ! And there is no annual cash back limit. It is one of the best credit cards for renovations.
In addition, the Tangerine Mastercard offers several insurance coverages for your purchases :
- 90 days purchase insurance
- One year extended warranty
Finally, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months.
Frequent Asked Questions about credit cards
Here are frequently asked questions in the milesopedia community about credit cards in Canada.
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%! So it’s essential to choose your cash back credit card, as it could save you a lot more than one of these 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.
You’ll earn your cashback on an annual or monthly basis for some banks. And for some, it can be at any time as soon as a minimum amount is reached, ranging from $10 to $25.
Why choose a cash back credit card with an annual fee?
An annual fee comes with benefits. Depending on the offer, you’ll get a welcome bonus, earn greater cashback, no or less limit on eligible purchase amounts, better insurance and some benefits for hotels by example. This is the case, for example, with the Compare cards to match your lifestyle.
Is it worthwhile to pay some interest fess on a cash back credit card?
Like other credit cards, to take advantage of the benefits, you have to pay your balance each month fully. No cashback could offset the interest costs incurred.
What is the best credit card in Canada?
There are more than 200 credit cards in Canada. There is no “one best credit card” in Canada.
Several credit cards can match your needs: