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
- 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
SimplyCash Preferred from American Express
Besides, with this welcome offer, you earn 10% cashback in your first 4 months (up to $400 cash back).
This Card stands out for its premium insurance: Car Rental Theft and Damage, $100,000 travel accident, Emergency medical insurance (outside the province or country), Lost or Stolen Baggage, Flight delay insurance and misdirected baggage, Hotel or motel burglary, Purchase Protection® Plan, Buyer’s Assurance® Protection Plan.
BMO® CashBack® World Elite®* Mastercard®*
Currently, you will get 10% cash back on all your purchases during the first 3 months for a limited time. Besides, the $120 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.
American Express Cobalt® Card
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.
Plus, you can earn a Welcome Bonus of 20,000 Membership Rewards points when you spend a total of $3,000 in purchases on your Card in your first 3 months of Cardmembership. That’s up to 50,000 Membership Rewards points as a welcome bonus!
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 optimize the welcome bonus to get 87,500 points with your current spending.
BMO® AIR MILES® World Elite®* Mastercard®*
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
SimplyCash™ from American Express
With this Card, you earn a 1.25% cashback on all purchases.
For the first 6 months, you can earn 4% cash back with the SimplyCash™ from American Express (up to $200 cash back).
And you’ll get insurance with it: $100,000 travel accident insurance, Purchase Protection® Plan, Buyer’s Assurance® Protection Plan.
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
- 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
- Grocery stores
- Gas stations
- Recurring bill payments
And 1% cash back on all other purchases.
With this new welcome offer, you could earn 6% cash back on all purchases for the first 3 months (up to a total of $2,000 in purchases). Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.
Tangerine Money-Back Credit Card
You can earn an additional 15% cash back (up to $150) when you spend up to $1,000 on everyday purchases in the first 2 months.
You can choose two to three categories of purchases (grocery, gas, furniture, home improvement, recurring bill payments, drug store, etc.) to earn 2% cashback! And with unlimited annual cashback!
Besides, the Tangerine Money-Back Credit Card comes with additional benefits:
- 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 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?
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: