Looking for the best Cash Back Credit Cards in Canada? The right choice depends on your spending, annual fees and cashback caps.
Compare the 7 cards in our selection below. Interested in a card? Click Read review to read our full analysis.
on TD's website
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $240 | |||
| $0 | |||
| $0 | |||
| $191.88 | |||
| $0 | |||
| $0 | |||
| $0 |
Invitation-only welcome offer: earn up to $500 cash back on your first $10,000 in purchases during the 35 days after approval, for 5% cash back (2% base + 3% boost).
| Purchases in the first 35 days | Base cash back (2%) | Boost (3%) | Total cash back (5%) |
|---|---|---|---|
| $2,500 | $50 | $75 | $125 |
| $5,000 | $100 | $150 | $250 |
| $10,000 | $200 | $300 | $500 |
The 3% boost only applies to the first $10,000 in net purchases during the 35 days after approval; beyond that, purchases earn the standard 2%. The card must stay open for 180 days after the boosted period.
With the Wealthsimple Visa Infinite + Card, earn 2% cash back on all your purchases, with no categories to track and no cap.
In addition, there are no foreign exchange fees on any purchase made in a currency other than the Canadian dollar, and no annual fee if you hold more than $100,000 in assets with Wealthsimple, or if you transfer the direct deposit of an eligible payroll to Wealthsimple.
To be eligible for this card, you must have a personal income of at least $80,000 or a household income of at least $150,000.
Some travel insurance is not currently offered to Quebec residents.
on Wealthsimple's website
The Scotia Momentum® VISA Infinite*+ card is recognized, year after year, as one of the best cash back credit cards in Canada. Milesopedia has even named it best cash back credit card in 2026.
Currently, thanks to this promotional offer, the Scotia Momentum Visa Infinite+ Card has no annual fee for the first year, including on additional cards. And you can get 15% cash back on all your purchases for the first three months (up to $2,000 in total purchases).
It also includes a new convenient benefit for travellers: enjoy 10 GB of free GigSky global mobile data for 15 days, as well as access to Travel Essentials to use essential apps like messaging, maps, and email while on the go. Cardholders also continue to receive 1 GB of free GigSky mobile data per year, plus a 20% discount on future GigSky purchases.
With the Scotia Momentum® VISA Infinite+ card, you get:
For example, if you spend $1,000 per month on grocery purchases and/or recurring payments, you will get $40 cash back per month, or $480 per year, with this card, for this purchase category. And that’s not counting the other purchases you make with this card and the benefits it offers (including its excellent insurance coverage).
Also note that you can use your cash back at any time (the cash back balance must be at least $25).
on Scotiabank's website
With the TD Cash Back Visa Infinite* Card, you earn 3% in Cash Back Dollars on:
And 1% cash back on all other purchases.
It’s the best TD cash back credit card, especially for gas purchases.
With this new welcome offer, you could earn 10% cash back on gas and grocery purchases and pre-authorized payments for the first three months (up to $3,500 in purchases). So you can earn up to $350 cash back, for a total value of up to $600† once the first-year Annual Fee rebate is included!
Plus, an Annual Fee rebate for the first year for the Primary and Additional Cardholders.
Finally, you have good insurance coverage, such as travel medical insurance, delayed or lost baggage insurance, collision/loss damage insurance for car rentals and mobile device insurance.
on TD's website
The American Express Cobalt® Card is a versatile American Express card, whether you want points for travel or cash back.
American Express Cobalt® Card welcome offer
The welcome bonus is paid out monthly over your first 12 months. You earn 1,250 Membership Rewards points for each monthly billing period in which you charge $750 in net purchases to your card, in any category (1X, 2X, 3X or 5X). That adds up to 15,000 Membership Rewards points over the year, a welcome offer valued at $255.
Earning the full bonus means $9,000 in net purchases spread across 12 monthly billing periods. This offer rewards steady monthly spending rather than one large purchase.
You can use these points as statement credits on everyday or travel purchases, at the same rate either way: 1,000 points = $10.
You can also transfer them to Aeroplan, Avios (British Airways and Qatar Airways), Flying Blue, Marriott Bonvoy or Hilton Honors. With the full welcome bonus, that is a choice between:
American Express Cobalt® Card benefits
Here is what the card gives you, starting with the benefits cardholders use most.
The 5X categories and where they apply
The 5X rate is the reason most people carry this card. In Canada it covers four kinds of merchants:
The 2X rate covers gas stations such as Esso, Shell and Petro-Canada, along with public transit and ride sharing.
With the American Express Cobalt® Card, you earn between 1 and 5 points per dollar:
| Category | Points per dollar |
| Grocery (Metro, IGA, Sobeys, Super C, etc.) | 5 |
| Home food delivery | 5 |
| Restaurants and bars | 5 |
| Convenience stores | 5 |
| Streaming services | 3 |
| Service station | 2 |
| Transport | 2 |
| Travel | 1 |
| Other | 1 |
That works out to a 1 to 5% return on those purchases. For example, if you spend $1,000 per month across groceries, restaurants and food delivery, you earn $50 back per month, or $600 per year from that category alone. Transfer the points to a program such as Aeroplan instead and the return can be higher.
You can also stack these categories with the hundreds of stores that offer 5x points.
American Express Cobalt® Card insurance coverage
The card comes with a broad insurance package. The amounts below are the coverage limits; conditions, age limits and exclusions are set out in the certificate of insurance linked in the Insurance section above.
Travel insurance
Rental car insurance
Theft and damage coverage is included for a rental car with an MSRP, for its model year, of up to $85,000 excluding all taxes, for rentals of up to 48 days. To use it, decline the Loss Damage Waiver (LDW) or any similar option from the rental company and charge the full rental to your card. There is no cost for this coverage, and it replaces the daily insurance the rental company charges, usually $16 to $23 per day.
Mobile device insurance
Your device is covered for up to $1,000 per occurrence when it is charged to the card, for up to two years from the date of purchase. The payout is based on the depreciated value of the device, which falls by 2% of the purchase price for every completed month, less a 10% deductible. Theft and accidental damage coverage starts on the 91st day after purchase, because the first 90 days are covered by purchase protection.
Purchase protection and extended warranty
Eligible items charged to your card are insured against accidental physical damage or theft for 90 days from the purchase date, up to $1,000 per occurrence for all items combined. The card also extends the original manufacturer’s warranty by up to one additional year on eligible items, with indemnification limited to $10,000 per insured item and $25,000 per Cardmember per policy year for all items combined.
American Express Cobalt® Card fees
Because the fee is billed monthly rather than in one annual charge, you can stop and restart the cost in step with how much you are actually using the card.
on American Express's website
Apply with confidenceCheck whether your application will be approved before you submit it, with no impact on your credit score*When you apply for a personal American Express Credit Card, we will tell you whether you are eligible without affecting your credit score. So you can apply with confidence.*Instant decisions are only available for consumer Card applications (also called “personal Cards”).
Welcome offer: $149 annual fee waived for the first year.
The Neo World Elite® Mastercard – Everywhere combines the simplicity of a single rate with the benefits of a premium card. Earn 2% cash back on all your purchases (up to $4,000 per month, then 1% thereafter), with no categories to track.
You keep all the World Elite® benefits: comprehensive travel insurance, collision coverage for car rentals, and a DragonPass membership for airport lounges. Add to that additional discounts at over 10,000 Neo partners.
With an instant credit limit of up to $30,000, it’s the premium option for those who want high cash back on every purchase, effortlessly.
Travel insurance is not available to Quebec residents. DragonPass membership is included; fees apply for each lounge visit.
on Neo Financial's website
BMO CashBack® World Elite®* Mastercard®* is one of Canada’s best cash back Mastercard credit cards.
Right now, you can get up to $650 in value, including $40 cash back each month in your first year. Plus, you won’t have to pay the $139 annual fee in the first year.
Additionally, you benefit from a 0% introductory interest rate on balance transfers for 12 months, as well as a 2% balance transfer fee.
With the BMO CashBack® World Elite®* Mastercard®*, you get great cash back rates in the categories that matter most:
You also enjoy practical benefits like free membership in Mastercard Travel Pass provided by DragonPass, free roadside assistance services, discounts on car rentals with National, Alamo and Enterprise, as well as comprehensive travel and purchase insurance coverage.
Finally, enjoy six months of Instacart+ membership and a monthly $10 Instacart credit when you sign up with your eligible BMO credit card.
on BMO's website
The Rogers Red World Elite® Mastercard is one of the best no annual fee cash back credit cards in Canada.
With the Rogers Red World Elite® Mastercard, you get 2% cash back on all your eligible non-U.S. dollar purchases (including at Costco) if you have at least one eligible service with Rogers, Fido, Comwave, or Shaw.
Otherwise, earn 1.5% cash back on all eligible purchases in currencies other than U.S. dollars.
Receive up to 3% cash back on eligible purchases in U.S. dollars (this credit card is therefore particularly suitable for snowbirds).
Furthermore, Rogers customers get 5 Roam Like Home days at no cost, every year, with an eligible Rogers mobile plan.
As the Rogers Red World Elite® Mastercard is a World Elite Mastercard, you receive a complimentary Mastercard Travel Pass membership (powered by DragonPass) providing discounted access to over 1,300 airport lounges worldwide (US$32 per person per visit).
Finally, you’re protected by a wide range of insurance coverages, such as :
