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.
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.
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: car rental theft and damage, baggage delay, lost or stolen baggage, flight delay, $250,000 travel accident, hotel or motel burglary, Mobile Device Insurance, Extended Warranty, Purchase Protection Insurance.
Find out in this article how to optimize the welcome bonus to get 87,500 points with your current spending.
SimplyCash Preferred from American Express
The SimplyCash™ Preferred from American Express is the only credit card in Canada offering 2% cash back on all purchases. And there’s no limit to how much cash back you can earn!
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® 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 $120 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
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.
Currently, there is no annual fee in the first year, including on additional cards.
After, with the Scotia Momentum® VISA Infinite* card, you earn:
- 4% cash back on groceries and recurring bills
- 2% cash back on gas and transit
- 1% cash back on everything else
And this card has outstanding insurance.
BMO® CashBack® World Elite®* Mastercard®*
The BMO® CashBack® World Elite®* Mastercard®* is one of the best Cash Back Mastercard in Canada.
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.
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
Currently, you will get 10% cash back for the first 4 statements on total purchases of up to $2,000. 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
SimplyCash™ from American Express
Would you like a cashback credit card with no-annual-fee and a high earning rate on all your purchases? Here’s an option for you: the 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.
American Express® AIR MILES®* Platinum Credit Card
With the American Express® AIR MILES®* Platinum Credit Card, you can earn a welcome bonus of 2,000 AIR MILES Bonus Miles. That’s enough to redeem for $210 towards your purchases with AIR MILES Cash.
With this credit card, you can earn 1 Mile for every $5 in Card purchases in:
- grocery stores
- Gas stations
- restaurants and bars
- Transit
Besides, you get an annual travel credit.
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.
BMO® AIR MILES® MasterCard®
With this exclusive offer for the BMO® AIR MILES® Mastercard®*, you earn 1,500 AIR MILES Bonus Miles after $1,000 in Card purchases, representing a $150 cash value. Besides, it’s a no-annual-fee credit card.
With the BMO® AIR MILES® Mastercard®*, you get 3x the Miles for every $25 spent at participating AIR MILES Partners. And 1 mile for every $25 you spend, Costco included.
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. Until August 16, 2021, you could earn 6% cash back on all purchases for the first 3 months (up to a total spend of $2,000). Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.
To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening and you must add your Additional Cardholders by August 17, 2021.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card has no annual fee and offers cashback.
You can earn an extra 10% cash back (up to $100) when you spend up to $1,000 in everyday purchases within your 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.
Other great offers
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: