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Discover our ranking of the best cash back credit cards in Canada. Maximize your savings with options tailored to your financial needs and enjoy exclusive benefits for every expense.
We present our ranking of the best credit cards in Canada in 2022.
On Milesopedia, we analyze nearly 200 credit cards available to Canadians. You can find them in our credit card comparison tool. This comparison tool has also been featured by Protégez-Vous.
Each month, we update our ranking of the best credit card offers, to help you find the best credit card offer that suits you at the moment.
A credit card offer can therefore be excellent at certain times of the year, but less so at others: that’s why you need to constantly stay informed about current offers -especially via our weekly newsletter.
On this page, we will not discuss offers, but rather an evaluation based on the overall characteristics of each credit card. Several factors are thus considered when choosing the best credit card in Canada in 2022 by category, such as:
As we regularly repeat, the market is divided into two main categories in Canada: “travel rewards” and “cash back.” We have thus organized our ranking to reflect this:
The CIBC Dividend® Visa Infinite* Card is the Best Cash Back Credit Card in Canada in 2022.
This award was given due to the cash back earned on everyday purchases: 4% on groceries and gas, 2% on transit, restaurants, and recurring bill payments, and 1% on all other purchases; as well as for the ability to get a statement credit with as little as $25 in cash back. Furthermore, it is accepted at almost all merchants.
The American Express® Cobalt™ Card is the Best Cash Back Credit Card – American Express in Canada in 2022.
This award was given due to the points accumulation categories for everyday purchases: 5% on groceries, food delivery, restaurants and bars, convenience stores, 3% on streaming services, 2% on gas, transit, travel, and 1% on all other purchases. And the ability to get cash back as a statement credit with as little as 1,000 accumulated points ($10).
The BMO CashBack® World Elite®* Mastercard®* is the Best Cash Back Credit Card – Mastercard in Canada in 2022.
This award was given due to the cash back earned on everyday purchases: 5% on groceries, 4% on transit, 3% on gas and electric vehicle charging, 2% on recurring bill payments, and 1% on all other purchases.
The CIBC Dividend® Visa Infinite* Card is the Best Cash Back Credit Card – Groceries in Canada in 2022.
The BMO CashBack® World Elite®* Mastercard®* is the Best Cash Back Credit Card – Gas and Transit in Canada in 2022.
The American Express Business Edge™ Card is the Best Cash Back Credit Card – Business in Canada in 2022.
This award was given due to the points accumulation categories for everyday business purchases: 3% on office supplies, electronic device purchases, transit, gas, restaurants and bars, and 1% on all other purchases; the ability to get cash back as a statement credit with as little as 1,000 accumulated points ($10) and reasonable annual fees for a Business Card.
The BMO CashBack® Mastercard® for Students is the Best Cash Back Credit Card – Students in Canada in 2022.
This award was given due to its points accumulation categories for everyday purchases: 3% on groceries, 1% on recurring bill payments, such as mobile phone bills, streaming services, or subscriptions, and 0.5% on all other purchases.
The American Express® Cobalt™ Card is the Best Cash Back Credit Card – Restaurants in Canada in 2022.
This award was given due to the cash back earned at restaurants and for food delivery (5 points per dollar, or 5%), the flexibility of using rewards, and the ability to get cash back as a statement credit with as little as 1,000 accumulated points ($10).
The CIBC Dividend® Visa* Card is the Best Cash Back Credit Card – No Annual Fee in Canada in 2022.
This award was given due to earning cash back at everyday merchants: 2% on groceries, 1% on gas, transit, restaurants, and recurring payments, as well as for the ability to get a statement credit with as little as $25 in cash back.
The American Express® Green Card is the Best Cash Back Credit Card – No Annual Fee American Express in 2022 in Canada.
This award was given due to the flexibility of using rewards and the ability to get cash back as a statement credit with as little as 1,000 accumulated points ($10).
The BMO CashBack® Mastercard® is the Best Cash Back Credit Card – No Annual Fee Mastercard in Canada in 2022.
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