Best Cashback Credit Cards Canada
| Card | Cash Back Rate | Annual Fee | Best For |
|---|---|---|---|
| Tangerine Money-Back Mastercard | 2% cash back in 2 categories you choose (3 with rewards paid into a Tangerine Savings Account), 0.5% on everything else | $0 | Best no-fee |
| Rogers Red World Elite Mastercard | 3% on U.S. dollar purchases; 2% on other purchases with a qualifying Rogers/Fido/Shaw/Comwave service (1.5% without); first $61,000/yr, then 1.5% | $0 | Best for USD spending |
| CIBC Dividend Visa Infinite Card | 4% gas/EV charging/groceries, 2% transportation/dining/recurring payments/CIBC by Expedia travel, 1% everything else (bonus rates on the first $20,000 of bonus-category or $50,000 of total spending a year) | $120/year | Best category rates |
| SimplyCash Preferred Card from American Express | 4% gas and groceries (on up to $30,000/yr, up to $1,200 cash back), 2% everything else | $119.88/year ($9.99/mo) | Amex users |
| SimplyCash Card from American Express (no annual fee) | 2% gas and groceries (on up to $15,000/yr, up to $300 cash back), 1.25% everything else | $0 | No-fee Amex |
| BMO CashBack World Elite Mastercard | 5% groceries (capped $500/mo), 4% daily transit (capped $300/mo), 3% gas (capped $300/mo), 2% recurring payments (capped $500/mo), 1% everything else | $139/year | BMO customers |
| Scotia Momentum Visa Infinite+ Card | 4% groceries/recurring bills/subscriptions (first $25,000/yr), 2% gas/EV/transit/rideshare/food delivery (first $25,000/yr), 1% everything else | $120/year | Bill optimization |
| TD Cash Back Visa Infinite Card | 3% groceries, gas & EV charging, public transit, and recurring bills/streaming/digital media (first $15,000/yr in each category), 1% everything else | $139/year | TD customers |
Annual Earnings Comparison
Based on $3,000/month spending ($1,000 groceries, $300 gas, $1,700 other): This roundup belongs to our credit card reviews hub, which lists every category.
| Card | Grocery+Gas CB | Other CB | Total/Year | Fee | Net/Year |
|---|---|---|---|---|---|
| CIBC Dividend VI (4% combined gas+groceries) | $624 | $204 | $828 | $120 | $708 |
| Scotiabank Momentum (4% grocery, 2% gas) | $552 | $204 | $756 | $120 | $636 |
| BMO CashBack WE (5% grocery capped $500/mo, 3% gas capped $300/mo) | $468* | $204 | $672 | $139 | $533 |
| Tangerine Money-Back MC (2% grocery/gas chosen) | $312 | $102 | $414 | $0 | $414 |
| Rogers WE MC (1.5% flat, absent USD or qualifying telecom service) | $234 | $306 | $540 | $0 | $540 |
| Basic 1% card | $156 | $204 | $360 | $0 | $360 |
*BMO figure reflects the $500/mo grocery cap (5% x $500 = $25/mo, plus the remaining $500 grocery spend at the 1% base rate once the cap is hit = $5/mo, so $30/mo x 12 = $360) plus the $300/mo gas cap (3% x $300 x 12 = $108), totaling $468 – both bonus categories are capped monthly, and spend beyond each cap still earns BMO’s 1% base rate rather than $0, unlike the flat-rate cards shown.
Top Picks
Best No Annual Fee: Tangerine Money-Back Mastercard
| Feature | Details |
|---|---|
| Annual fee | $0 |
| Cashback rate | 2% in 2 chosen categories (a 3rd unlocks with a linked Tangerine Savings Account) |
| Other purchases | 0.5% |
| Income requirement | $12,000 personal |
| Welcome bonus | Varies (often extra categories) |
Categories you can choose (pick 2, or 3 with a linked Tangerine Savings Account):
- Groceries
- Gas
- Restaurants
- Recurring bills
- Drug stores
- Home improvement
- Entertainment
- Furniture
- Public transit/parking
Best for: People who want targeted 2% without an annual fee.
Best for USD Spending: Rogers World Elite Mastercard
Full review: Rogers Red World Elite Mastercard review.
| Feature | Details |
|---|---|
| Annual fee | $0 |
| Cashback rate | Up to 3% on USD purchases |
| Non-USD purchases | 2% with a qualifying Rogers/Fido/Shaw/Comwave service (else 1.5%) |
| Foreign currency | Standard ~2.5% FX markup still applies – the 3% USD cashback offsets it, it is not a 0% FX fee |
| Income requirement | $80,000+ personal |
| Welcome bonus | Varies |
Best for: US-dollar shoppers and Rogers/Fido/Shaw/Comwave customers. NOTE: this is NOT a flat 1.5% on everything – rates vary by currency and whether you have a qualifying telecom service.
Best Category Rates: CIBC Dividend Visa Infinite
Full review: CIBC Dividend Visa Infinite review.
| Feature | Details |
|---|---|
| Annual fee | $120 |
| Gas & groceries | 4% (COMBINED category, not two separate 4%/2% tiers) |
| Transportation/dining/recurring payments | 2% |
| Everything else | 1% |
| Welcome bonus | Varies: confirm current offer at cibc.com |
Best for: Families spending heavily on groceries and gas.
Best Premium Category Rates: BMO CashBack World Elite Mastercard
| Feature | Details |
|---|---|
| Annual fee | $139 ($0 first year) |
| Groceries | 5% (capped at $500/mo spend, max $25/statement) |
| Daily transit | 4% (capped at $300/mo spend, max $12/statement) |
| Gas | 3% (capped at $300/mo spend, max $9/statement) |
| Recurring payments | 2% (capped at $500/mo spend, max $10/statement) |
| Everything else | 1% |
| Welcome bonus | Cash back offer, which has included a first-year fee waiver; check the current offer at bmo.com |
Best for: BMO customers who want the highest available grocery cash back rate in Canada, though the monthly caps limit total payout.
Best for Gas & Groceries: Amex SimplyCash Preferred
| Feature | Details |
|---|---|
| Annual fee | $119.88/year ($9.99/month; $119/year flat in Quebec) |
| Gas | 4% |
| Groceries | 4% (capped at $1,200/yr cash back) |
| Everything else | 2% (there is NO separate restaurant/dining bonus category on this card) |
| Welcome bonus | Cash back offer; check the current offer at americanexpress.com/en-ca |
Best for: People who earn most rewards at gas stations and supermarkets.
No-Fee vs Premium: When to Upgrade
| Monthly Spending | Rogers WE ($0 fee) | CIBC Dividend ($120 fee) | Better Pick |
|---|---|---|---|
| $1,500 total | $270/year | $247 net | Rogers WE |
| $2,500 total | $450/year | $487 net | CIBC Dividend |
| $3,500 total | $630/year | $727 net | CIBC Dividend |
Rule of thumb: Premium cards break even when grocery + gas spending exceeds ~$500/month. Net figures above are illustrative estimates based on the spending examples in this guide; actual cash back depends on your specific category mix.
How Cash Back Works
Redemption Methods
| Method | Notes |
|---|---|
| Statement credit | Most common, automatic or manual |
| Direct deposit | Some cards deposit cash to your bank |
| Cheque | Less common, older method |
| Gift cards | Sometimes available at higher value |
When Cash Back Posts
| Card Issuer | When You Get Paid |
|---|---|
| CIBC | Annual payout (December/January) |
| Tangerine | Monthly or annually |
| Rogers | Against any purchase |
| BMO | Monthly statement credit |
| Scotiabank | Annual or monthly |
Cash back or points?
Cash back is simple and its value is fixed, while points can be worth more when redeemed well for travel and less when redeemed for merchandise. The points vs cash back comparison works out the break-even value per point.
Common Mistakes
| Mistake | Solution |
|---|---|
| Paying annual fee for low spending | Calculate break-even spending first |
| Ignoring category limits/caps | Read annual caps: CIBC’s combined gas+groceries cap is ~$20k/yr |
| Carrying a balance | Interest (20%+) erases all cash back |
| Using one card for everything | Pair cards for max category rates |
| Choosing cashback over 0% intro offers | If carrying debt, low-interest card is better |
Tips to Maximize Cash Back
- Pay in full every month: Interest charges ($20%+) destroy any cash back earnings
- Match card to spending: Use the right card for each purchase category
- Set up autopay: Never miss a payment and risk losing cash back
- Track annual caps: Switch to another card once you hit the earning cap
- Stack with apps: Use Rakuten, Checkout 51, and store loyalty programs alongside
Related Resources
Sources
The figures and rules on this page come from these sources, last checked against them between October 3, 2026 and October 6, 2026. How we check facts.
- americanexpress.com: Cash Back Credit Cards | Amex Canada
- americanexpress.com: American Express® No Annual Fee Credit Cards | Amex CA
- BMO: BMO Credit Cards Cost of Borrowing
- BMO: Terms & Conditions
- CIBC: Credit Card Rewards Calculator | CIBC
- rogersbank.com: Rogers red worldelite mastercard
- Scotiabank: Scotia Momentum® Visa Infinite +* Card | Scotiabank Canada
- Tangerine: Cash Back Credit Card: Bonus 10% Cash Back for 2 months* | Tangerine
- TD: TD Cash Back Visa Infinite* Card | TD Canada Trust