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5 Best Cash Back Credit Cards for Canadians

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Are you looking for a simple way to earn money while doing your everyday purchases? Then a cashback credit card might be the right option for you! There are hundreds of cash-back credit cards on the market. We have gathered the five best based on different aspects.

The Scotia Momentum Visa Infinite

This card provides a 4% cashback on grocery store purchases and any recurring payments or subscriptions, 2% on gasoline and public transportation expenditures (including ridesharing services like Uber), and 1% on all other transactions.

Tangerine Money Back

This card lets you select the categories in which transactions qualify for additional cashback. The categories include cashback: grocery, entertainment, and transportation, furnishings, restaurants, hotels and motels, gasoline, recurring bills, pharmacy, and parking. Those two category will earn you 2% cashback. A welcome offer is available right now where you can get 1.95% interest rate for the first 6 months

American Express SimplyCash™ Preferred Card

This card is perfect if you don’t want to deal with spending categories or income restrictions.

This card offers 2% cash back on all purchase. A special welcome promotion offers you 10% cash back on all purchases for the first four months, up to a maximum of $400 in cash back.

BMO CashBack Mastercard

This card earns 3% cash back on groceries, 1% on recurring bill payments, and 0.5 % on other items. A welcome promotion gives you at least 5% cash back on any purchases made within the first three months of your account. This card gives you also a 1.99% introductory interest rate  on balance transfers for 9 months plus 1% fee applies to balance amounts transferred

CIBC Dividend Visa Infinite

This card has a 4% cash back on groceries and gas. Dining (including food delivery), daily transport (ride sharing and bus passes), and recurring bill payments all get double cash back.

 Annual rateInterest feesAnnual income requiredInsurance included

The Scotia Momentum Visa Infinite
$12020.99% / 22.99%  
$60,000 or $100,000 per household
Mobile device insurance
Tangerine Money Back   $019.95% after welcome offer$12,000Purchase insurance and extended waranty
American Express SimplyCash Preferred Card $9919.99% on purchases and 21.99% on funds advances  No minimalTravel accident insurance, zero liability, extended warranty, and purchase assurance
BMO CashBack Mastercard $019.99% on purchases and 22.99% on funds advances (21.99% for Quebec residents)$15,000Purchase insurance and extended waranty
CIBC Dividend Visa Infinite $12019.99% on purchases and 22.99% on funds advances (21.99% for Quebec residents)$60,000 or $100,000 per householdMobile device insurance, purchase security and extended warranty, our-of-province emergency travel medical insurance, $500,000 common carrier accident insurance, car rental collision/loss damage insurance  


Because of its versatility, cash back is one of the most appealing credit card rewards alternatives. Instead of being restricted to trip redemptions or item purchases, you have complete freedom to spend your money anyway you choose.

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