MoneySense curated this list of the best cash back credit cards in Canada to help you maximize your rewards on your everyday purchases. Whether you’re looking for high earn rates, low fees and/or other benefits, our credit card guide will help you find the perfect card to boost your cash-back savings.
Featured cash back credit cards
Rogers Red World Elite Mastercard
CIBC Dividend Visa Infinite Card
SimplyCash Preferred Card from American Express
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Compare the best travel credit card options in Canada with our interactive tool and filter credit cards based on your spending needs, including rewards value, annual fees, income requirements and more. Use this tool to compare credit card options, or keep scrolling for our editors’ top picks.
Best cash back credit cards in Canada
MoneySense award winners
We break down the pros and cons of our gold, silver and bronze-winning travel credit card picks. Scroll further for other good options, including the best airline credit card and best no-fee alternative.
MoneySense editors apply their credit card expertise and knowledge of Canadians’ financial goals to come up with selection criteria that matches the needs of the intended cardholder, including local and international travellers. For this series of the best travel credit cards in Canada, your return on spending is a key consideration, because it represents the value of the points you earn with every purchase, which can be earned or redeemed from travel purchases. For Canadians, we consider annual fees and eligibility criteria (for student credit cards), perks and insurance (for premium credit cards) and other factors, specific to each travel card category. The addition of links from affiliate partners has no bearing on the results in this “best travel credit cards in Canada” ranking. Read more about the MoneySense selection process and about how MoneySense makes money.
Gold: Rogers Red World Elite Mastercard
At a glance: The Rogers Red World Elite Mastercard is the best cash back credit card in Canada, offering a high earn rate of 1.5% on all purchases—so there’s no need to strategize spending by maximizing bonus categories. Plus, the accelerated rate of 3% on all U.S. purchases is enough to cover foreign transaction fees. This also provides exceptional travel perks, including airport lounge access, and emergency medical and trip cancellation insurance, all without an annual fee. The Roger Red World Elite Mastercard is our pick for best no fee cash back credit card in Canada.
Rogers Red World Elite Mastercard
Annual fee: $0
- 3% cash back on all U.S. dollar purchases
- 1.5% on all other purchases (2% for Rogers, Fido and Shaw customers)
Welcome offer: None at this time.
Card details
| Interest rates | 25.99% on purchases, 27.99% on cash advances, 27.99% on balance transfers |
| Income required | $80,000 per year |
| Credit score | 725 or higher |
Pros
- Solid rewards: Earn 1.5% on all purchases made in Canada. And as a Mastercard, this is one of the best cards to use at Costco, which doesn’t accept Visa or American Express.
- Rogers, Fido and Shaw customers earn more: Customers get 2% cash back on all purchases (instead of the standard 1.5%). Plus, when they redeem cash back with Rogers, Fido or Shaw, the rewards are worth 1.5 times more. For example, $100 in cash back becomes $150 when applied to a Rogers bill.)
- Save on roaming fees: The card comes with five Roam Like Home days annually at no cost for Rogers mobile plans, worth up to $80.
- Great for U.S. shopping: Earn 3% cash back on purchases in U.S. dollars, offsetting the typical 2.5% foreign transaction fee.
- No annual fee: This is uncommon for World Elite Mastercards in Canada.
- Flexible redemptions: Redeem rewards against purchases on your card for as little as $10.
Cons
- High income requirement: As a World Elite Mastercard, the eligibility requirements might put it out of reach for some Canadians.
Silver: CIBC Dividend Visa Infinite
At a glance: The CIBC Dividend Visa Infinite offers high earn rates on everyday purchases. You won’t find a better rate on groceries rewards or gas rewards (which includes EV charging spends), making it one of the highest cash rewards credit cards around. Plus, you can redeem your cash back anytime and save at the pump with exclusive fuel discounts.
CIBC Dividend Visa Infinite
Annual fee: $120 (rebated first year)
- 4% cash back on eligible gas, EV charging and grocery purchases
- 2% on dining, daily transit and recurring payments
- 1% on everything else
Welcome offer: Get up to $400 in value, including a first-year annual-fee rebate. Offer not available to Quebec residents.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 725 or higher |
Pros
- Broad spending categories: Enjoy boosted rewards on more purchases, including transportation, which includes taxis, ride sharing and public transit.
- Fuel discounts: Link your card with Journie Rewards and save 3 cents per litre at Pioneer, Fas Gas, Ultramar and Chevron gas stations. Get an additional 7 cents off per litre every time you reach 300 Journie Rewards points.
- Flexible redemptions: Get your cash back whenever you need it. Many other cards issue cash back only as an annual statement credit.
Cons
- Less competitive base rate: 1% is pretty standard for a minimum earn rate, but it’s still lower than some other cards.
- High income requirement: It may be more difficult to qualify for this card than some others.
Bronze: Tangerine Money-Back Credit Card
At a glance: The Tangerine Money-Back Credit Card is one of the most flexible-earning cash back credit cards on the market, allowing you to pick up to three 2% bonus categories of your choice, from a list of 10. Better yet, you can change your categories as needed, with 90 days’ notice.
Tangerine Money-Back Credit Card
Annual fee: $0
- 2% in up to 3 categories of your choice (including groceries, gas and dining)
- 0.5% cash back on everything else
Welcome offer: Earn an extra 10% cash back during the first two months (up to $100 in cash back).
Card details
| Interest rates | 20.95% on purchases, 22.95% on cash advances and 22.95% on balance transfers |
| Income required | Personal or household income of $12,000 |
| Credit score | 660 or higher |
Pros
- Customizable bonus categories: Pick two bonus categories for unlimited 2% cash back, and get a third 2% category by automatically depositing your earnings into a Tangerine account. Change your categories any time with 90 days’ notice.
- Free supplementary cards: Maximize earnings at no added cost.
- Monthly redemptions: Rewards are paid out once a month, instead of once per year, like with some other cashback credit cards in Canada.
Cons
- Limited insurance offerings: This cash back card only offers the two of the most basic insurance coverages: purchase assurance and extended warranty.
- Income requirement: Although the requirement is low, some great cash back cards have no requirement at all.
More Canadian cash back cards with competitive rates and perks
Best Amex cash back credit card: American Express SimplyCash Preferred
At a glance: The American Express SimplyCash Preferred offers impressive earn rates on grocery and gas purchases, two of the most-used spending categories. It also has the highest base earn rate in Canada: at 2%. Combined with solid insurance coverage, access to Amex benefits and free supplementary cards, this is a strong option for those who want an Amex card.
Amex SimplyCash Preferred
Annual fee: $119.88 ($119 for Quebec residents)
- 4% cash back on eligible gas and grocery purchases
- 2% cash back on everything else
Welcome offer: Earn a bonus 10% cash back on all purchases for your first three months (up to $2,000 in purchases) and a $50 statement credit when you make a purchase in month 13 (total value of up to $250).
Card details
| Interest rates | 21.99% on purchases and cash advances, 25.99% to 29.99% penalty APR on purchases and cash advances (rates are variable) |
| Income required | None specified |
| Credit score | 725 or higher |
Pros
- Generous earn rates: Get 4% cash back on gas and groceries and a strong 2% cash back on all other purchases.
- No income requirement: This cash back card is super accessible.
- Exclusive Amex perks: Includes dining and retail experiences, Amex Front of the Line event access, and tailored monthly Amex Offers.
- Free supplementary cards: This allows the account to maximize the card’s cash back potential at no added cost.
Cons
- Limited acceptance: Amex is not as widely accepted as Visa or Mastercard, especially at certain stores like Loblaw banners.
- Yearly redemptions: Cash back is issued as a statement credit once a year in September.
Best instant approval cash back card: SimplyCash Preferred Card
At a glance: If you want to get going with one of the best cashback credit cards in Canada without waiting out the standard approval time, check out the SimplyCash Preferred from American Express.With a strong back rate of 2% on everything you buy plus an accelerated 4% cash back rate for gas and grocery prices, this credit card makes cash back easy to understand and even easier to earn.
SimplyCash from American Express
Annual fee: $0
- 2% cash back on gas and groceries
- 1.25% cash back on all other purchases
Welcome offer: Earn a bonus 5% cash back on your first $2,000 in purchases during your first three months (up to $100 in bonus cash back).
Card details
| Interest rates | 21.99% on purchases, 21.99% on cash advances |
| Income required | None specified |
| Credit score | 725 or higher |
Pros
- Strong base rate: The 2% base rate outshines many other cards in Canada which offer rates of 0.5% to 1% outside of boosted categories. Plus, there’s no cap or annual limit to how much you can earn at this rate.
- Maximize everyday spending: Gas and groceries are top spending categories for many Canadians and this credit card returns 4% cash back on those purchases.
- Included insurance: Unlike many free cash back credit cards in Canada, the SimpyCash Preferred includes some travel and car rental insurance.
Cons
- Acceptance rate: American Express cards are not as widely accepted as Visa or Mastercard.
Best student cash back credit card: BMO CashBack Mastercard
At a glance: It’s not often you get high cash back rates with a free card but the BMO CashBack Mastercard provides just that. Combining no annual fee with an impressive 3% cash back rate on grocery purchases, this card is perfect for students looking to earn cash rewards in a high-spend category.
BMO CashBack Mastercard
Annual fee: $0
- 3% cash back on groceries (on the first $500 per month)
- 1% on recurring bills
- 0.5% on everything else
Welcome offer: Earn up to 5% cash back during your first three months.
Card details
| Interest rates | 21.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers |
| Income required | n/a |
| Credit score | None specified |
Pros
- 3% back on groceries: With this high rate, this rewards credit card returns the highest cash back rate for groceries among no-fee credit cards in Canada.
- Flexible redemptions: You can redeem your cash when you wish, not on someone else’s schedule. When you accumulate as little as $1 in earnings, you can apply it as a statement credit, add it to your BMO InvestorLine account or deposit it into your BMO chequing or savings account.
- Extras: Enjoy discounts on select rental cars and Cirque du Soleil shows.
Cons
- Earning caps: There is a monthly earning cap of $500 on groceries and recurring bills (though that cap may be sufficiently high for a student). If you spend more, you’ll earn at the low 0.5% base rate.
- Narrow spending categories: Some shops like convenience stores, bakeries and other specialty food markets are excluded from the grocery category.
Frequently asked questions about comparing Canadian cash back cards
Why isn’t Wealthsimple’s cash back card on this list?
As editors and people who care that you can apply for the cards on this list, we want you to have access to the best cash back cards in Canada. However, the release of Wealthsimple Visa Infinite is a slow one. There was a soft launch in April 2025, giving access of the card to select clients. Then the fintech opened up applications to another 20,000 Canadians. But until the Wealthsimple cash back credit card is widely available for Canadians to apply, we won’t be able to recommend it for Canadians.
Read: Is Wealthsimple a bank? Not exactly, but it’s launching new “banking” services
What’s the difference between cash back and travel rewards?
Many Canadians find themselves torn between cash back and travel credit cards. In both cases, you can earn rewards based on your spending, but there are some key differences. If you’re trying to choose between the two, it’s helpful to compare them based on several key factors.
Simplicity: With cash back cards, you earn money back on your purchases. Although there can be some variation depending on rates and spending categories, cash is easy to understand. Some travel credit cards have complicated charts, earn rates, and redemption values. However, they often offer outstanding value on travel-related expenses.
Rewards and bonuses: The majority of cash back credit cards offer the same limited selection of bonus categories (namely gas, groceries and utility bills). In comparison, travel credit cards have a far larger selection of bonus categories (like restaurants, hotel stays, flights, Uber rides and public transit, in addition to the groceries and gas), which means you can potentially earn more points on more types of purchases.
Flexibility: Cash is king and you can use it to buy anything–including travel. However, if you’re looking to save on flights and hotel stays, a travel card can offer considerably more value.
Perks and extras: With a money back credit card, the reward is cash.If you’re looking for little extras, your best bet is a travel rewards card.
How can I earn cash back faster?
If you want to earn cash back faster, there are a few things you can do. The first step is to choose a card that fits well with your spending patterns–and keep in mind that this may or may not be a no-fee card. For example, if a card offers boosted rates in a top spending category for you and your family, it might make sense to pay an annual fee. Once you’ve got the right cashback card in your wallet, use it for all your everyday purchases, especially in accelerated spending categories, and especially during promotions or special events. Finally, you can give supplementary cards to your (trusted) friends and family so you maximize their spending power.
Which credit cards offer 5% cash back or more? Which card gives 5% cash back?
An earn rate of 5% is outstanding in Canada, but it can be found. The BMO CashBack World Elite offers 5% back on groceries with an annual rate of $120. For $125 per year, you can use the Neo World Elite Mastercard which starts with 5% cashback on groceries and offers 7% as a boosted rate for those who bank with them. Also keep an eye on welcome promotions as many of them offer cash back rates of 5% and higher for a limited time.
Which Costco card has 3% cash back?
You can shop at Costco with a variety of cards including the CIBC Costco Mastercard which gives you a 3% cash back rate at restaurants and Costco gas stations. You might use an alternative card for your Costco purchases. The Roger Red World Elite Mastercard, for example, is accepted at Costco and offers 3% on all U.S. dollar purchases and has a 1.5% cash back base rate which is bumped up to 2$ for Rogers or Fido customers..
Does Shoppers Drug Mart offer cash back rewards?
Shoppers is part of the PC Optimum rewards program, which lets you earn points redeemable for products in partner stores. There are lots of ways to earn points when you shop, and you can redeem 10,000 PC Optimum points for $10 off virtually anything by telling the cashier. The savings come off at the till. You can build up your points faster by shopping at Shoppers with a PC Financial Mastercard.
What are the disadvantages of a cash back card?
Cash back cards are an excellent tool for some people and some spending profiles but they come with drawbacks. For example, cashback credit cards typically come with few benefits like included insurance or airport lounge access. If you need a card that provides those extras, a travel card might be a better choice. Another drawback might be that when you take your rewards in cash, you might be getting less for your buck. Many rewards cards beef up the value of their points so you get more when you redeem than you might by buying a reward directly. If you’re interested in specific types of rewards, it often pays to research points programs.
Are cashback cards worth it?
Despite any drawbacks, cashback cards reward you with cash which is flexible and easy to redeem without blackout dates, complicated charts, or other restrictions. If you’re looking for a way to put your spending to work for you, a cash back card is a strong choice.
Are you making the most of your cash back credit card
If you want more cash-back rewards, it might mean applying for a new cash back card or looking at your cash back credit card habits. Check out these tips to help you get more money back.
Never carry a balance
The big payoff with a cash back credit card is the cash—a reward that can be easily cancelled out by any penalties and interest accrued if you carry a balance. Like all rewards credit cards, cash back cards tend to carry annual interest rates at the higher end, usually around 19.99%. At this rate, unpaid debt will rapidly accumulate interest charges that eat up any gains you’ve made. As long as you pay off your balance in full every month, you’ll avoid this pitfall. But if you find you regularly carry a balance, consider a low interest credit card instead.
Compare your cash back card options
It’s easy to go with the cash back card offered by your current bank, but that’s not always the best choice. Take the time to compare your options to identify the card that delivers the highest return based on your particular spending habits and lifestyle. Remember: you don’t need to open a chequing or savings account with a bank in order to get a credit card from there, and you can pay your bill electronically from any bank account.
Don’t dismiss cash back cards with an annual fee
While it might seem counterintuitive to pay an annual fee on a cash back card, be aware that cards with a fee generally deliver better rewards and perks. If these perks are worth more than the annual fee (and if the card fits your spending habits in other ways), you might choose a cash back card with a fee.
Consider using multiple credit cards
Having too many active credit cards with balances, all at once, is generally frowned upon, as this can be a sign of bad finances and insolvency. However, having more than one card and a strong credit-card strategy can be a good thing, including pairing cards to maximize benefits. For example, the TD Cash Back Visa Infinite offers 3% back on gas, groceries and recurring bills, but only 1% on everything else, while the Tangerine Money Back Card has no annual fee and offers 2% back in up to three spending categories of your choice. Strategically it would make sense to select drug stores, parking/public transit and restaurants to fill in the gaps on everyday spends without having to pay more for the better earn rate. Think outside the box when setting up your spending strategy with cash back credit cards in Canada.
Add your partner as an authorized user
Adding an authorized user, typically your partner, to your account can be a cost-effective (or even free!) way to boost your earnings on a premium card. With this setup, both cardholders accrue rewards or cash back on their spends without paying double the annual fees. If, for example, your card has a $120 annual fee, you might be able to get an additional authorized user for as little as $30 more. Some premium cards, like the SimplyCash Preferred from American Express, even let you add authorized users for free—no additional annual fee. It does bear mentioning that this requires some thought, as only the primary cardholder will be responsible for paying off the balance—not the authorized users.
Cash back cards versus travel credit cards
When choosing a rewards credit card, many Canadians find themselves torn between two types: Cash back and travel. This shouldn’t come as a surprise—both are popular and have valuable strengths. Here we break down both card types to help you decide which card is right for you.
Simplicity
It’s important to understand how your credit card rewards program works. Cash back credit cards are about as clear as you can get. If you earn 2% back, you absolutely know you’re going to receive $0.02 on every $1—no complicated calculations required. With travel rewards credit cards, there are sometimes different earn rates and redemption values. These variables can affect how or when you want to collect or redeem.
Cashback vs. travel credit cards: If you’re invested in earning travel rewards, acquainting yourself with your card’s program may be the best way to go, otherwise you can’t top cash for its simplicity and flexibility.
Rewards and bonus categories
How you earn can be just as important as what you earn. Travel rewards credit cards usually offer a very wide breadth of spending categories to earn in, while cash back cards can be more restrictive.
Aside from a few exceptions, the majority of money back credit cards offer the same limited selection of bonus categories (namely gas, groceries and utility bills). In comparison, travel credit cards have a far larger selection of bonus categories (like restaurants, hotel stays, flights, Uber rides and public transit, in addition to the groceries and gas), which means you can potentially earn more points on more types of purchases.
Flexibility
The reason it’s said that “Cash is king” is because money can be used for anything you want, such as everyday spending on gas and groceries. In contrast, the points earned on travel cards are usually geared toward travel rewards and offer the best value when redeemed for flights and hotel stays.
Cashback vs. travel credit cards: Cash is the most liquid reward there is, but if you’re looking to save on flights and hotel stays, a travel card can offer considerably more value.
Welcome bonuses
Typically, travel rewards cards can offer hundreds of dollars in rewards as a welcome bonus promotion, while cash back cards usually offer an increased earning percentage for a short introductory time. One thing to note: bonuses on cash back credit cards are usually easier to earn—while travel rewards cards usually are worth more but have stricter spending requirements.
For example, with the BMO World Elite Mastercard, you can get 3,000 bonus points ($240 value) only after you spend $3,000 on the card within your first three months. In contrast, the BMO CashBack World Elite’s welcome offer lets you earn 5% cash back right out of the gate on all your purchases for the first three months but it maxes out at just $200.
Cashback vs. travel credit cards: The welcome bonuses on cash back credit cards in Canada are typically worth less but are easier to get than the offers available on travel cards.
Side perks
Perks are benefits available to you as a cardholder. These are usually things like airport lounge access, longer and more comprehensive travel insurance coverage, and refunds on certain expenses like a Nexus entry fee. As you can see, perks are very often tied directly to travel, so it should come as no surprise that you’re more likely to find them on travel rewards cards than on cash back cards.
Cashback vs. travel credit cards: In many ways, cash is the perk on a cash back card. If you’re looking for little extras, your best bet is a travel rewards card.
Other ways to earn cash-back rewards
Credit cards aren’t the only way to earn cash-back rewards. Consider a cash back debit card (read our best debit cards ranking). It’s a way using your own money and without the risk of owing interest or not paying the balance off on time—which could negate some of your rewards. Another hack: Use your cash back bank account and transfer money to a prepaid credit card. That’s perfect for travel or online shopping. Check your banking app to see if that’s an option with the cash-back savings account (read our best high interest savings accounts ranking).
