Find the best cash back credit cards personalized for you

Best flat-rate cash back credit card

SimplyCash Preferred Card from American Express 

• Annual fee: $9.99/month ($119.88 annually)
• Current welcome offer: For the first 10 months, earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases (up to a possible total of $400 cash).
• Everyday rewards: 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases
  
• Income required: None

Why it made our Best Of list: If you’re looking for a no-nonsense rewards credit card and don’t want to think about bonus categories or tiered earn rates, the SimplyCash Preferred Card from American Express is right up your alley. This card will earn you 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases. Plus, for the first 10 months, you can enjoy a $40 statement credit for every month you spend $750 on the card (up to $400).

Aside from its impressive rewards and welcome bonus, the card does stand out for a few other reasons. For one, it’s free to add authorized users (not an extra $50 every year like with other premium cards) and you won’t need to meet any specific income requirements to get approved. Additionally, it’s got some great benefits including up to $5 million in out of province travel medical insurance for trips up to 15 days, entertainment perks like access to ticket pre-sales through American Express Invites, concierge services, and more. Since this card is issued by American Express, you’ll want to consider carrying a back-up debit or no fee Visa or Mastercard just in case a store or restaurant doesn’t accept Amex.

 

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Best cash back credit cards with no annual fee

Tangerine Money-Back Credit Card

• Annual fee: $0
• Everyday rewards: Earn 2% cash back in 2 categories of your choice (or 3 when you also open a free Tangerine Savings Account), and 0.5% on everything else.
• Welcome offer: New users can earn an extra 10% back on up to $1,000 in everyday purchases within the first 2 months. Must apply by May 2, 2023.
• Income required: $12,000 

Why it made our Best Of list:  Ever since it was launched in 2016, it’s been a no brainer to include the Tangerine Money-Back Card in our annual rankings of the best cash back credit cards in Canada. The card has no annual fee, no limits or caps on the amount of rewards you can earn, and offers 2% in up to three spending categories. All that and we haven’t even touched on the biggest advantage the Tangerine Money-Back has over other credit cards: flexible bonus categories.

While most cash back credit cards lock you into earning higher rewards on the same typical bonus categories (think groceries, gas, and bills), Tangerine actually lets you pick up to three of your own from a broad selection that includes: restaurants, groceries, gas, drugstores, entertainment, home improvement, hotels/motels, recurring bills, public transportation and parking (including taxis and rideshares). Since you’re not stuck with any pre-set bonus categories, you can customize your card to align with your particular spending habits and earn more cash back. You can even change your bonus categories at any time on the Tangerine app (though changes will take about one statement period to process). For all your purchases that don’t fit under one of your bonus categories, you’ll earn 0.5%.

The fact the Tangerine Money-Back has no annual fee and offers the unique ability to pick your own bonus categories also makes it a great option for pairing with another credit card. For instance, while a credit card like the TD Cash Back Visa Infinite excels by offering 3% on groceries it earns just 1% on dining. If you also carried the Tangerine Money-Back Card, you could choose restaurants as one of your bonus categories and double your returns whenever you eat out without owing any additional annual fees.

Like many no fee cards, the Tangerine Money-Back Card offers few frills (outside of the conventional card benefits like purchase protection and complimentary extended warranties). But if you do earn an annual income of at least $60,000, you could automatically be referred to the higher-tier Tangerine World Mastercard and receive additional perks like mobile device insurance and up to $60,000 in rental car collision/loss/damage/waiver insurance.

 

American Express SimplyCash Card

• Annual fee: $0
• Welcome offer: For the first 10 months, earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases (up to a possible total of $100 cash).
  
• Everyday rewards:  2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases
  
• Income required: None specified

The American Express SimplyCash Card earns 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases.

The card also includes a strong welcome offer: for the first 10 months, new users can earn a $10 statement credit for each monthly billing period in which they spend $300 in purchases (up to a possible total of $100 cash). The card doesn’t include any income requirements and even offers extra perks including: up to $100,000 in travel accident insurance, access to pre-sale tickets to major live events and concerts through Amex’s Front of the Line service, and the ability to snag special discounts from a range of retailers with Amex Offers.

 

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Best cash back card for groceries and gas

CIBC Dividend Visa Infinite

• Annual fee: 120 (rebated for the first year)
• Welcome offer: Digital only - new users who sign up online can earn 15% cash back welcome bonus of up to $300 (first 4 statements).
• Everyday rewards: Earn 4% cash back on groceries and gas, 2% on dining, daily transit, and recurring payments. Get 1% cash back on all other purchases†.
• Link and use your CIBC Dividend® Visa Infinite* Card with Journie Rewards to automatically save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
• Income required: $60,000 (or $100,000 as a household)

The CIBC Dividend Visa Infinite was revamped on February 1st, 2021 and now earns more cash back across a wider spectrum of bonus categories than ever before.

Its most popular feature - 4% cash back on both groceries and gas - remains, but now it also earns 2% cash back on dining (including food deliveries), recurring bill payments, and daily transit (from Uber rides to public transit). The card’s redemption system has also become more flexible. Previously, cash back was redeemed only once per calendar year in December and now cardholders can access their rewards at any time in increments of at least $25. The card’s beefed-up earn rate does come at a cost in the form of an annual fee increase (from $99 to $120) and some scaled back travel insurance benefits (flight delay and baggage insurance have now been scrapped), but when considering how much more potential cash back you can rack up every year, we consider the changes an overall win. Not to mention, if you bundle bank accounts with CIBC and open the CIBC Smart Plus Account, you can have the card’s annual fee rebated on an ongoing basis (though, it’ll only really be worth your while if you can maintain a minimum chequing account balance of $6,000 to avoid all monthly banking fees). 

There's also their current digital-only welcome bonus where new users who sign up online can earn 15% cash back welcome bonus of up to $300 (first 4 statements). Not only that, but CIBC has now partnered with Journie Rewards to save you some money at the pumps. Link and use your CIBC Dividend® Visa Infinite* Card with Journie Rewards to automatically save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†

 

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Best cash back card for no FX fees

Home Trust Preferred Visa

• Annual fee: $0
• Everyday rewards: 1% on all Canadian-dollar purchases
• Income required: None specified

The Home Trust Preferred Visa charges no annual fee and earns a flat 1% cash back on everything you buy in a Canadian currency. That on its own is a pretty decent offering, but what really sets this card apart is the fact it also waives its foreign transaction fees.

Unlike most other cards in Canada, you won’t rack up an additional 2.5% fee for making a purchase in a foreign currency. That makes the Home Trust Preferred Visa a great card to use for online shopping (in case you purchase from e-commerce sites that only accept USD) or for travelling abroad. Since it’s a Visa Card, it's widely accepted overseas. Just one small caveat: the Home Trust Preferred has what's known as an inactivity fee; a $12 charge that'll kick in if you don't make at least one transaction on the card over a consecutive 365-day period. So, just be sure to swipe the card at least once every year, even if it's just for a small purchase.

 

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Best cash back card for household spending

TD Cash Back Visa Infinite* Card

• Annual fee: $139 (rebated for the first year)
• Current welcome offer: New users can Earn 10% cash back for the first three months on up to a total of $2,000 in purchases. Plus, receive a first-year annual-fee rebate for the primary and additional cardholders. Must apply online by May 28, 2023. 
• Everyday rewards: Earn 3% cash back on groceries, gas, and recurring bills†. Get 1% on everything else†.
• Income required: $60,000 (or $100,000 as a household)

Why it made our Best Of list: When describing what makes the TD Cash Back Visa Infinite* so great, it’s hard to ignore the value of its welcome offer. New users can Earn 10% cash back for the first three months on up to a total of $2,000 in purchases. Plus, receive a first-year annual-fee rebate for the primary and additional cardholders. Must apply online by May 28, 2023.

Aside from the welcome offer, this card has three regular bonus categories -  gas, groceries, and recurring bills - which each earn 3%†. To top it off, the TD Cash Back Visa Infinite* also offers drivers the added benefit of a complimentary roadside assistance membership that can help you save on everything from road towings and battery replacements to emergency gas deliveries, and more. Plus, you’ll have 24/7 access to an emergency roadside assistance hotline.

This card also comes with built-in travel insurance coverage and access to Visa Infinite* benefits (i.e. concierge services).

 

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Best cash back card for students

Student BMO CashBack Mastercard

• Annual fee: 0
• Current welcome offer: up to 5% cash back in your first three months
• Everyday rewards: 3% cash back on grocery purchases, 1% cash back on recurring bills and streaming services, and subscriptions, 0.5% cash back on everything else
• Income required: Earn annual income from employment, scholarship/grant, student loan or family allowance.

For students looking to get their first credit card, the Student BMO CashBack Mastercard is a perfect fit. Not only does the card offer no annual fee and an excellent welcome bonus of up to 5% cash back in the first three months, it also carries an impressive standard rate of 3% cash back on all grocery purchases - a big win when you’re trying to save on essentials.

The card’s flexible redemption system is also ideal for younger users: you can redeem as much or as little cash back as you want at any time, and choose between depositing the savings into a BMO bank account or using it to help pay off your next statement. Cardholders can also enjoy added benefits such as extended warranty and purchase protection on any purchases made with the card, and up to 25% off on car rentals at participating National Car Rental and Alamo Rent a Car locations.