Best cash-back cards 2012 - MoneySense

Best cash-back cards 2012

Want a card that will put some money back into your pocket? We’ll tell you which cards give the most cash back, factoring in sign up bonuses and fees over five years.

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If you’re choosing a cash-back card, be sure to read the fine print. Many cards claim to give you eye-popping rebates, but the offer may only apply for a few months or may be limited to certain types of purchases, says Patrick Sojka from the website RewardsCanada.ca. Look for a card that gives you a good rate for the purchases you make most frequently and you’ll come out on top.

To find the card that best matches your spending and re-payment patterns, try our Credit Card Selector Tool.

In the meantime, here’s our  list of cards that provide the most cash back for every dollar you spend on average:

1.


Scotiabank
Scotia Momentum VISA Infinite
Annual Fee: $99
Current Interest Rate: 19.99%
Card Details: Requires personal income of $60,000 or household income of $100,000; includes car rental insurance, extended warranty.

2.


Capital One
Aspire Cash World MasterCard
Annual Fee: $0
Current Interest Rate: 19.8%
Card Details: Requires personal income of $60,000 or household income of $100,000; includes travel medical insurance.

3.


MBNA
SmartCash Platinum Plus MasterCard
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes purchase protection and travel insurance.

*MBNA reduced the amount of cash back it awards for purchases on gas and groceries after the first six months from 3% to 2% on Oct. 23 2012, after our 2012 list had been published.

4.


Capital One
Aspire Travel World MasterCard
Annual Fee: $120
Current Interest Rate: 19.8%
Card Details: Requires personal income of $60,000 or household income of $100,000; includes travel medical insurance.

5.


Capital One
Aspire Cash Platinum MasterCard
Annual Fee: $0
Current Interest Rate: 19.8%
Card Details: Requires personal income of $30,000; includes price protection, purchase assurance and travel accident insurance.

6.


Scotiabank
Scotia Momentum VISA
Annual Fee: $39
Current Interest Rate: 19.99%
Card Details: Includes purchase security, extended warranty and rental car discounts.

7.


Canadian Tire
Cash Advantage MasterCard
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes extra cash back at Canadian Tire and Mark’s Work Wearhouse.

8.


RBC
Cash Back MasterCard
Annual Fee: $0
Current Interest Rate: 19.99%
Card Details: Includes extended warranty and purchase protection.

How much cash back could you get from your credit card?

This chart shows how much you’d earn annually from your card, based on your monthly spending. But if you don’t use your card—and it charges a fee—it will cost you money.*

Learn how we crunched the numbers for Canada’s Best Credit Cards 2012 by reading our methodology.

Also check out our top travel, merchandise, low-rate, student and small business credit cards.

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