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.
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.
NBC World Elite Mastercard
The National Bank’s World Elite Mastercard® is the best credit card from NBC.
For a limited time, you can get a $300 cashback after $4,000 spending in the first three months.
You can earn up to 2 points per dollar in Card purchases, including at Costco.
Besides, you get up to $250 in travel credits per calendar year:
- Airport parking: $100
- Baggage fees: $100
- Seat selection: $50
The National Bank’s World Elite Mastercard® is a credit card to keep, year after year, for several reasons:
- it has one of the best travel and purchases credit card insurance on the market
- up to $250 travel credit per year
- Unlimited access to the National Bank Lounge at Montreal-Trudeau airport
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 the BMO® AIR MILES® World Elite®* Mastercard®*, you get 1 mile for every $10 you spend, Costco included.
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:
- 2 complimentary passes to airport VIP lounges
- 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. Plus, you earn 10% cash back in the first three months.
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 Mastercard credit cards with cash back in Canada.
With the BMO® CashBack® World Elite®* Mastercard®*, you get 1.5% on all your purchases, Costco included, with no annual limit.
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!
And this card has premium insurance.
CIBC Dividend Visa Infinite Card
The CIBC Dividend Visa Infinite Card is one of the best Cash Back Visa credit cards in Canada.
For a limited time, get a first-year annual fee rebate and 10% cash back for the first 4 statements on total purchases of up to $2,000.
With the CIBC Dividend Visa Infinite Card, you earn a:
- 4% cash back on gas and groceries
- 2% cash back on transportation, dining and recurring payments
- 1% cash back on everything else
And you can get your cash back anytime.
NBC Allure Mastercard
Support the Quebec Breast Cancer Foundation’s cause by becoming an NBC Allure Mastercard credit cardholder with this exclusive offer!
For a limited time, National Bank is running an exclusive offer for milesopedia readers: $150 cash back after $1,500 in Card purchases during the first three months for this no-fee credit card. That’s a 10% return on your first $1,500 in purchases!
For every $2 in purchases charged to your NBC Allure Mastercard account, you earn 1 point. Once a year, in January, you earn a $10 cash back for every 1,000 points you’ve earned.
And for every $10 you spend with your card, the National Bank of Canada donates 10 cents to the Quebec Breast Cancer Foundation! It can be as much as $750,000 per year for all cardholders!
For example, if you charge $1,000/month to your card, National Bank will donate $10/month to the foundation, or $120/year. Take advantage of this exclusive offer and help support the Foundation’s actions!
SimplyCashâ„¢ 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 SimplyCashâ„¢ from American Express.
With this Card, you earn a 1.25% cashback on all purchases.
For the first 6 months, you can earn a 2.5% accelerated cash back with the SimplyCashâ„¢ from American Express (up to $150).
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.
BMO® CashBack® Mastercard®*
The BMO® CashBack® Mastercard®* is a cash back credit card with no annual fee.
With this card, you can get 5% cash back in your first 3 months. It’s a maximum welcome bonus of $100.
Then you get:
- 3% on grocery purchases, including Walmart Supercenters
- 1% cash back on recurring bill payments
Finally, you can also get a 1.99% introductory interest rate on Balance Transfers for 9 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: