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Saving money on groceries with the right credit card comes down to a simple technique: “double-dipping.” You combine a grocery store loyalty program with a credit card that boosts that category, and you earn rewards twice on the same purchase—first with the store loyalty card, then with your credit card points or cash back.
Inflation is weighing on grocery bills: find out what our readers think.
In Canada, four major chains offer a loyalty program: PC Optimum at Maxi and Provigo, Scene+ at IGA, Moi at Metro and Super C, and the Executive membership card at Costco. This guide breaks down the best program + credit card combinations for each chain, with my real calculations by profile and my tips to make sure you don’t leave any rewards on the table.
The PC Optimum program works at Maxi, Provigo, Shoppers Drug Mart and several other Loblaw banners. Accumulation is based on weekly personalized offers, flyer promotions, and selected products.
By planning your purchases according to flyer specials and app offers, rewards accumulate quickly. For example, on a $159 bill at Maxi, it is possible to obtain more than 42,000 points ($42) by combining the right offers. At the next checkout, these points are deducted directly from the bill.
Maxi accepts Visa and Mastercard. The trick is to pay with a card that offers a high multiplier for groceries.
The PC World Elite Mastercard earns 30 PC Optimum points per dollar at Maxi (3%), or about $4.77 on a $159 bill. The PC Insiders™ World Elite Mastercard® goes up to 4% at Loblaw grocery stores. However, the National Bank World Elite delivers more in travel value: 795 NBC points (5 × $159), worth about $7.
Since March 2023, the loyalty program at IGA has been Scene+. Accumulation is based on personalized offers, the flyer, and selected products.
IGA grocery stores accept American Express cards. The Voilà by IGA online grocery service also accepts them. Two Amex cards stand out:
The Scotiabank Gold American Express® Card earns 1 more point per dollar than the Cobalt. Specifically, $200 in spending at IGA yields 1,000 Membership Rewards points with the Cobalt (200 × 5). With the Scotiabank Gold Amex Card, $167 is enough for 1,000 Scene+ points (167 × 6). The reward therefore arrives faster. It’s the best grocery earn rate in Canada.
Other Visa and Mastercard cards also offer a good grocery multiplier at IGA:
The Moi program from Metro earns 1 point per dollar spent. Each week, download your personalized offers on the mobile app or from your online profile to boost your rewards.
Metro accepts Visa, Mastercard, and American Express. The moi RBC Visa Credit Card is directly linked to the Moi program. By paying with this card AND scanning your Moi card at checkout, you get:
Moi points are used to reduce the bill at Metro, Jean Coutu, Première Moisson, Super C, and Brunet. The tip: redeem them at a low-price location like Super C to maximize their value. Additionally, link your RBC debit or credit card to your Moi card to earn points faster.
Other cards offer more advantageous grocery accumulation than the Moi RBC card:
The American Express Cobalt Card multiplies Membership Rewards points by 5 for spending at Metro and other supermarkets. If you are hesitating between the Cobalt and the Amex Gold Card, consult our comparison.
Costco offers a cash back program reserved for Executive Membership cardholders.
Costco warehouses only accept Mastercard cards. The CIBC Costco Mastercard offers 1% cash back in-warehouse and 2% on Costco.ca.
With an Executive membership (2%) and the Rogers Red World Elite Mastercard (1.5% to 2%), you can get up to 4% back on your Costco purchases. Without a Rogers plan, National Bank or the BMO CashBack® World Elite®* Mastercard®* (1%) are still good Mastercards to stack on top of the Executive rebate.
If you prefer cash back over points, the BMO CashBack® World Elite®* Mastercard®* leads the pack for groceries: 5% on the first $500 in grocery purchases each month, then 1% beyond that. It’s the highest cash-back rate in Canada in this category.
How much do your groceries really earn? Here are my calculations, based on two cards at 5% or 5 points per dollar: the BMO CashBack World Elite (cash back, $139 annual fee waived the first year) and the Cobalt American Express (Membership Rewards points, $191.88/year fee, redemption value of 1,000 points = $10).
At $500/month, you hit the BMO CashBack 5% cap exactly. Cash back wins. In the first year, since the BMO fee is waived, you keep the full $300.
As soon as groceries go over $500/month, the Cobalt pulls ahead: it earns 5 points per dollar without a tight cap (limit of $2,500/month across all 5x categories combined), while the BMO drops to 1% beyond $500. For a family, double-dipping with Cobalt + Scene+ or PC Optimum offers becomes the most lucrative.
The increase in grocery prices is weighing on budgets, but several ways exist to reduce the bill beyond the loyalty + credit card double dip. To go further, check out our guide How to save on groceries and the one on saving at the gas station.
The double-dip technique—loyalty program plus credit card—works at all major grocery stores in Canada. At Maxi, the National Bank World Elite combined with PC Optimum offers excellent value. At IGA, the Scotiabank Gold American Express® Card with Scene+ maximizes your points. At Metro, the Cobalt Card multiplies rewards by 5. And for pure cash back, the BMO CashBack World Elite pays 5% on the first $500 in groceries each month.
To compare all available options, visit our best credit cards page in Canada. Sign up for our newsletter to receive our weekly analyses and tips.
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