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Best Cash Back Credit Cards in Canada for 2020

 
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.95%
Cash Advance Interest Rate: 19.95%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • No annual fee
  • Unlimited rewards
  • Automatic monthly cash back redemption
  • Flexibility
  • Get more rewards
Apply Now Full Review
Why we like it

1.95% interest on the transferred balance for the first 6 months

Regarded as one of the best credit card in Canada, Tangerine provides no annual fee, a lucrative 2% cash back in up to 3 merchant categories, and 0.5% on all other purchases with no caps, tiers or limits. It provides choice, value and convenience to beginner credit card users and even works great as a secondary credit card.

  • No annual fee -The no annual fee for both primary and secondary holders means that you are not paying for your cash back.
  • Unlimited rewards -Earn as much cash back rewards regardless of the category.
  • Automatic monthly cash back redemption -Every month, Tangerine will either apply your cashback dollars against your credit card balance or deposit it directly into your Tangerine Savings Account.
  • Flexibility - You can choose 2-3 categories for the 2% cash back and change categories once every 90 days to match your spending pattern.
  • Get more rewards -Maximize your credit card rewards by choosing another cash back credit card that has bonus categories and using your Tangerine card to expand and get more bonus categories.
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Tangerine Money-Back Credit Card Review

Earn 2% Money-Back Rewards on purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases.

  • 2% Rewards in your chosen categories
  • Get 0.50% money back on all other everyday purchases.

  • Money-Back Rewards are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.

  • No limit on the amount of Money-Back Rewards you can earn.

  • Change your 2% Money-Back Categories to suit your everyday spending.

    • Optimizing your 2% Money-Back Categories to suit your everyday spending has never been easier. Choose your categories to earn the most money back.

    • During your first 6 months, transfer balances from your other high interest rate credit cards, and pay only 1.95% interest on the transferred balance for the first 6 months.

      Fees:

      • Annual: $0
      • Balance transfer: 3% with $5 minimum
      • Cash advance: $3.50 inside Canada, $5 outside Canada, plus 19.95% interest on overdue amounts
      • Foreign transaction: 2.5% per transaction
      • Missed or late payments: increased interest rates to 24.95% on all purchases
      • Over limit: $25 (Tangerine does not allow you to go over your limit unless the transaction was pre-approved)

       

Welcome Bonus
Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Lucrative welcome bonus
  • Generous cash back on gas, groceries and recurring bills
  • Redeem your rewards any time
  • Peace of mind when travelling
  • Assistance on the road
Full Review
Why we like it

The TD Aeroplan Visa Infinite Card is a versatile credit card that allows you to earn Aeroplan miles, get a comprehensive travel insurance package, and earn rewards at a decent rate. With TD being the official partner of Aeroplan, we consider this the best Aeroplan credit card in Canada. It targets members and gives double miles when used together with the Aeroplan membership card.

  • Lucrative welcome bonus – For a limited time, new cardholders will get 6% cash back on eligible purchases for up to a total spend of $3,500. That’s equivalent to $210 worth in cash back!
  • Generous cash back on gas, groceries and recurring bills – Only few Canadian credit cards provide cash back on automated billing payments – making this one of the best reasons to get the TD Cash Back Visa Infinite Card.
  • Redeem your rewards any time – Instead of waiting at the end of the year to redeem your cash back, you can use your cashback dollars to pay your credit card balance whenever you like (minimum $25 per redemption).
  • Peace of mind when travelling – With a medical coverage that includes standard protection and up to $2 million coverage during the first 10 days of a trip, this card lets you travel in peace. In addition, it also offers access to emergency travel assistance as well as delayed and lost baggage insurance.
  • Assistance on the road – This credit card gives you complimentary membership to the company’s TD Auto Club and makes you eligible for free emergency roadside assistance anytime.
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TD Aeroplan Visa Infinite Card review

  • Earn Aeroplan Miles with every Purchase made on your Card and arrive at your dream destination sooner
  • Enjoy Air Canada benefits while travelling
  • Take advantage of an extensive suite of travel insurance

Earn 1.5 miles

for every $1 spent on eligible grocery, gas and drugstore Purchases and aircanada.com Purchases

Earn 1 mile

for every $1 spent on all other Purchases made with your Card

Earn miles twice

when you pay with your Card and present your Aeroplan Membership Card at participating retailers and the Aeroplan eStore

Your Aeroplan Miles don't expire as long as you're a TD Aeroplan Credit Cardholder

Welcome Bonus
Annual Fee: $99
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 21.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • High cashback rewards
  • Complete suite of insurance and protection plans
Apply Now Full Review
Why we like it

If you are comfortable with shelling out a small fee of $99 per year, then the SimplyCash Preferred Card from American Express is one of the best cashback rewards cards. Those who want to maximize their rewards can take advantage of the limited-time 10% cashback rewards. It also offers a comprehensive insurance package that's worth more than $100 in value.

 

Why We Like It:

  • High cashback rewards One of the highest we've seen, the 10% promo cash back is a welcome opportunity for people who have a major purchase coming up. After the four-month promotional period is up, it returns to a still high 2% cash back with no limits. Cash back is applied as a statement credit to your account each September.
  • Complete suite of insurance and protection plans This Amex card offers extensive insurance that includes insurance against rental car damage, travel accident, foreign medical, and baggage theft as well as double manufacturer's warranty and insurance against theft or damage for purchases.
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SimplyCashTM Preferred Card Review

 New SimplyCash™ Preferred Card from American Express Cardmembers can earn 10% cash back on all eligible purchases (up to $400 cash back) for the first 4 months of Cardmembership

• Earn 2.0% cash back when your Welcome Rate ends

• No limit to the amount of cash back you can earn after your Welcome Rate ends

• Access to memorable experiences with American Express Invites

• Extensive insurance coverage and 24/7 Customer Service

• American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

 

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 21.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?

 

  • No Annual Fee
  • Awesome Welcome Offer
  • Cash Back Rate
  • Entertainment Special Access
  • Basic Insurance Coverage
Apply Now Full Review
Why we like it

If you’re looking for a basic cash back credit card - this could be an ideal option for you! With no annual fee, earn 1.25% cash back, obtain basic insurance and access to American Express special events. This is an ideal credit card for individuals wanting to build credit without making a big commitment to an annual fee.

 

  • No Annual Fee. One of the few American Express cards that comes with no annual fee.
  • Awesome Welcome Offer. Cardholders earn 2.5% cash back on all purchases in their first three months of ownership. Earnings cap at $150 - still a lot to earn while you spend!
  • Cash Back Rate. Once the welcome offer expires, earn 1.25% on all purchases with no limitations.
  • Entertainment Special Access. Gain access to American Express exclusive offers and experiences.
  • Basic Insurance Coverage. Travel accident, buyer’s assurance and purchase protection insurance comes with card ownership.
Credit Card snapshot

SimplyCash™ Card from American Express Review

Earn Cash Back

The more you buy with the Card, the more cash back you'll earn.
  • New SimplyCashTM Card from American Express Cardmembers can earn 2.5 percent cash back on purchases (up to $150 cashback) for the first 3 months of Cardmembership
  • Earn 1.25% cash back on purchases when your Welcome Rate ends

    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link. Conditions Apply

Welcome Bonus
Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Welcome bonus
  • No-nonsense rewards
  • Enhanced insurance package
Apply Now Full Review
Why we like it

For people who love to eat and drive, the Scotia Momentum VISA Infinite Card is the best rewards credit card with a fee. It provides an unrivaled 4% cash back on food and gas along with 2% on recurring payments and drugstore purchases, and 1% on the rest. On top of that, this card also comes with comprehensive insurance benefits and concierge benefits.

  • Welcome bonus  The whooping 10% cashback bonus on the first three months is a very delicious offer to refuse.
  • No-nonsense rewards Rewards are clear, transparent, easy to earn and easy to redeem. Cash back rewards are paid out annually either as a deposit to eligible chequing or savings account or credited to your credit card statement.
  • Enhanced insurance package The improved insurance package is comparable with other more premium cards. It provides comprehensive coverage on travel, including rental car collision loss or damage as well as purchase security and extended warranty protection.
  • Additional Perks. Obtain exclusive offers from Scotiabank including concierge service, competitive hotel rates and upgrades, and access to dining and wine country programs.
  • Annual Fee. Gain access to all of the above perks at the cost of $120 per year.
Credit Card snapshot

Great reasons to get this card for your everyday purchases

Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on supplementary cards. A welcome offer value of $350*.

• 4% on eligible recurring bill payments and grocery store purchases

• 2% on eligible gas station and daily transit purchases

• 1% cash back on all other eligible everyday purchases

• Complimentary Concierge Services 24/7
• Visa Infinite Dining Series
• Visa Infinite Music Series
• Wine Country Wonders
• Luxury Hotel Privileges
• Comprehensive Travel Insurance & New Mobile Device Insurance coverage

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Appealing low balance transfer offer
  • $0 annual fee
  • Cashback on four key areas
  • Peace of mind
Apply Now Full Review
Why we like it

7.99% introductory interest rate on purchases for the first 6 months

Although it comes with no bells and whistles, the Scotia Momentum MasterCard Credit Card has an attractive low balance transfer promotion that may be appealing for people looking to pay off their debt. This no-fee cashback credit card also has solid features enough to make it ideal for people who want to build their credit.

Why We Like It:

  • Appealing low balance transfer offer This credit card offers a tempting 7.99% balance transfer promotional interest rate for a limited time, so you can slowly pay off your existing balance.
  • $0 annual fee Because it is a no-fee credit card, it makes the perfect starter card, or a secondary card for existing Visa or Amex cardholders who wish to shop on stores where only a MasterCard is accepted such as Costco.
  • Cashback on four key areas Not many no-free credit cards offer no-limit cashback rewards on gas, groceries, drugstore and recurring bills.
  • Peace of mind Even though this MasterCard lacks travel insurance and purchase protection, it makes up for it by giving 0% liability on all unauthorized credit card payments.
Credit Card snapshot

Scotia Momentum Mastercard Credit Card review

•7.99% introductory interest rate on purchases for the first 6 months (19.99% after that)

• Cash back on everyday spending with no annual fee

• 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bill payments

• 0.5% cash back on all other eligible everyday purchases

• Rates, fees and other information are effective as of August 1, 2019. Subject to change.

Make everyday purchases quickly and safely with just a tap of your contactless-enabled Mastercard or device

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 19.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • No annual fee
  • No foreign exchange fees
  • 1% Cash back rewards on eligible purchases
  • Free roadside assist membership
  • Sufficient protection
Apply Now Full Review
Why we like it

With no foreign transaction fee and no annual fee in one credit card, what’s not to like about the Home Trust Preferred Visa? And because this is a no fee credit card, all benefits come free, including free roadside assistance in Canada.

Why We Like It:

  • No annual fee – You can try it for free.
  • No foreign exchange fees – 0% foreign currency conversion charge when shopping abroad. It’s perfect for online and cross-border purchases – saving you 2.5% of the total cost.

  • 1% Cash back rewards – Regardless of the category, this credit card gives 1% cash back on all eligible purchases. The total cash back balance is credited to your account at the start of each year.
  • Free roadside assist membership – 24/7 Free roadside assistance includes free 5-litre gas delivery, emergency towing services up to 5 km away, key lock-out, tire service, and battery boosting.
  • Sufficient protection – Insurance covers auto rental collision and loss as well as purchase security protection.
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Home Trust Preferred Visa Card Review

The Preferred Visa from Home Trust is a great credit card that doesn't charge a foreign transaction fee, this card helps cardholders to save 2.5% each time they make a purchase in any foreign currencies either online or in store.

The Home Trust Preferred Visa is a great cash back card that allows cardholders to earn 1% cash back1 on all eligible purchases


  • No annual fee
  • 1% CashBack on all eligible purchases
  • Roadside Assist membership at no extra charge
  • No foreign currency conversion surcharges2

1 CashBack Rewards are issued on all purchases made in Canadian dollars. Cash advances, balance transfers, interest, fees and foreign transactions (including online purchases in foreign currencies) are not eligible for CashBack Rewards.

This credit card product is not available in Quebec
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.95%
Cash Advance Interest Rate: 19.95%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?

Earn extra Rewards
Boingo Wi-Fi for Mastercard®
On-Demand and Subscription Services
Mobile Device Insurance

Apply Now Full Review
Why we like it
The World Mastercard offers new perks to their customers that are not available to Tangerine Money-Back Mastercard users. Mobile insurance of $1,000, rental car insurance worth $65,000 for 31 days and Mastercard airport experiences are perks that cardholders gain access to. Both of these insurance packages are beneficial for individuals who have a smartphone and are renting cars often.
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Tangerine World Mastercard®  Review


Earn cash back

Earn 2% Money-Back Rewards in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.
 
Easy online Pause My Card feature–in case you need it
If you ever think you’ve lost or misplaced your Card, there’s no need to panic. With a couple quick clicks, you can temporarily suspend it.
 

Transfer and save

During your first 30 days, transfer balances and pay an interest rate of only 1.95% on the transferred balance for the first 6 months (19.95% after that). A Balance Transfer fee of 1% on the amount transferred will apply.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.