Best Cash Back Credit Cards in Canada for 2025

Apply for a Tangerine Money-Back Credit Card by April 30, 2024 and earn an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.*

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

Regarded as one of the best credit card in Canada, Tangerine Money-Back Credit Card 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 cash back 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.

While geared towards young people, the American Express Cobalt^® Card  has plenty features and benefits that make it appealing to a wide range of people. It offers 5x more points on eats and drinks from grocery shopping to dining out, and 2x points on travel and transit. Additionally, the ability to transfer points to hotel partners or to the Fixed Points Travel Program makes this the best travel credit card in Canada with a fee. If you spend a lot on food and travel, then this credit card deserves a place in your wallet.

• Generous first-year rewards - You have the ability to earn up to 15,000 bonus points in the first year.
• Redeem anything you want -Reward points can be redeemed for travel, restaurant, movies, and merchandise. Unlike other rewards card, you can use your points for almost anything you want.
• Transferability of points -You can transfer points into the Marriott Bonvoy rewards system which unlocks access to amazing rewards programs like British Airways, Aeroplan, and more than 30 other airline partners. You can also transfer to the Hilton Honors rewards program at 1:1 ratio.
• Monthly fee - Instead of paying for a one-time annual fee, you are charged every month, giving you time to test out the card and cancel it if it's not the right fit for your spending habits.
• Free supplementary card - This usually costs an additional $50 on most rewards card. Get one for an immediate family member and boost your earning potential.

The American Express Cobalt^® Card started out as a credit card designed for millennials and young professionals. Today, it’s one of the most flexible and versatile credit cards out there. In fact, it’s now commonly used by people from all walks of life because of the lucrative benefits. 

One reason the American Express Cobalt^® Card is so popular is because of the quick rewards that come with it. Points can be earned on everyday purchases which is what makes the earnings accumulate so rapidly. On food and drinks, such as grocery, restaurant, food delivery, bar and cafe purchases, cardholders earn five points per dollar spent. 

On transit and travel, cardholders earn two points per dollar spent. These rewards are not limited to vacation only, cardholders will earn points when they spend on public transit, taxis and Ubers too. All other purchases earn one point per dollar spent. As you can see, no matter what your lifestyle is, you’ll quickly rack up points! 

Points can be redeemed to cover the cost of flights and accommodation with 1,000 points being equivalent to $10. Flights don’t have any blackout dates and you can choose any airline you’d like. In addition, the points can be used to cover fees and taxes. If you don’t have an upcoming trip, you can also spend your points on events through Ticketmaster at a rate of 2,000 points to $20. As you probably noticed, the rate of return is the same when you spend on travel and events which is fantastic! For less bang for your buck, you can also use your points for gift cards or merchandise purchases. 

Cardholders benefit from travel insurance as well. The insurance covers things like travel accidents, car rental insurance, medical emergencies, flight interruption or delay among others. Last but not least, cardholders gain access to American Express Invites which are limited offer, exclusive events. 

All of these benefits sound amazing but there’s a cost for all the wonderful benefits. There’s a monthly fee of $12.99, which works out to be $155.88 per year. The monthly payment makes it easy for most to manage. Also, you need to make between $60,000 and $80,000 per year and have decent credit. The only disadvantage is the cap rate on the bonus points is 30,000. Another downside to this bonus is the points can’t be redeemed in a lump sum. This means there is a delay between when you earn the points and when you can redeem them. 

That being said, the American Express Cobalt^® Card is still an excellent option for those who travel a lot and make lots of eligible purchases.

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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.

The SimplyCash Preferred credit card allows you to earn while you spend. There are no categories or limitations - wherever you spend, you’ll earn cash back with no earning caps. While the credit card does come with an annual fee of $99, you’ll benefit from numerous perks in addition to cash back.

The American Express SimplyCash Preferred Card offers cardholders an incredible range of benefits that include high cashback rates and a referral bonus. American Express offers exceptional customer service to its cardholders, with customer care professionals that are available to answer questions and deal with card problems, such as lost or stolen cards, 24 hours a day.

• Fantastic Welcome Offer. Earn up to $400 in Statement Credits
• Cash Back Rate. Earn 2% cash back on all purchases.
• Up to $1,500 cashback annually for approved referrals
• No Limit on Earnings. After the welcome offer expires, there are no limitations on earnings with the 2% rate. 
• Travel and Shopping Insurance. Travel abroad and shop around with peace of mind. Insurance coverage includes travel accident, car rental theft and damage, buyers assurance protection and much more.
• Entertainment Benefits. Access special event offers from American Express, such as theatre, music, fine dining, fashion and shopping.

• Cashback is earned on every purchase made with your card
• There are no limits on the amount of cashback you can receive
• Travel insurance limits are generous
• Early access to concerts and other events

• Amex isn't accepted as widely as Visa and Mastercard

The American Express SimplyCash Preferred Card is an excellent option for those who are looking for a generous cashback program. Individuals who travel frequently for business or pleasure can also benefit from this card's included travel insurance, which covers accidents, medical expenses, and even lost baggage. Although this card comes with great benefits, it's important for potential users to consider the downfalls, which is the fact that some retailers across Canada don't accept American Express cards.It is always good to have a Visa or Mastercard credit card as a backup.

If you’re looking for a straightforward cash back credit card - this could be an ideal option for you! With no annual fee, earn 1.25% cash back, obtain insurance coverage and access to American Express special events. This is an ideal credit card for individuals wanting to earn cash back 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.  In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card.
• 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.
• Insurance Coverage. Travel accident, buyer’s assurance and purchase protection insurance comes with card ownership.

The American Express SimplyCash® Card features no annual fees and offers cardholders a flat, unlimited cashback rate. Just as with the SimplyCash® Preferred Card, American Express offers its members the opportunity to receive a generous bonus for referrals. Its customer care professionals are available around-the-clock to address cardholder concerns and fraud protection is included with every card.

• Earn up to $100 in Statement Credits
• Up to $750 cashback annually for approved referrals
• Purchase Protection Plan covers all purchases made with the card
• Front of the Line ticket access for concerts, dining, film, and other experiences with American Express Invites
• Built-in fraud protection and emergency card replacements
• $100,000 travel accident insurance that includes a Buyer's Assurance Protection Plan

Pros

• No annual fees
• Cashback is unlimited
• Purchase Protection Plan protects you from shopping with bad merchants
• Early access to concerts and other events

Cons

• Amex isn't accepted as widely as Visa and Mastercard
• Travel benefits are reduced when compared with the SimplyCash Preferred Card

The Takeaway

The SimplyCash® Card from American Express is among the best choices for individuals who are looking for a cashback card that doesn't cost an arm and a leg. Because cashback earnings aren't limited with this card and the interest rate is reasonable, this card makes a great choice for everyday use. Those who travel frequently and require comprehensive insurance may want to consider upgrading to the SimplyCash Preferred Card, as the SimplyCash card's travel insurance benefits are limited by comparison.

BMO Cashback Mastercard users earn 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% cash back on all other purchases. There is no limit on the amount of cash you can earn. BMO is currently offering a sign-up bonus whereby you’ll earn 5% cash back during your first three months of card ownership. In addition, there is an introductory interest rate of 1.99% that lasts nine months for balance transfers however you’ll be required to pay a one-time 2% transfer fee.

This credit card has no annual fee and comes with purchase protection, extended warranty, and the ability to add additional cardholders for free. Cardholders also receive 25% off participating National Car Rental and Alamo Rent A Car locations. Another perk is 15% off Canadian Cirque du Soleil tours and 20% off Las Vegas Cirque du Soleil tours. Finally, BMO is one of Canada’s largest and most reputable banks. With this credit card, you’ll be able to take advantage of the perks offered to their large customer base.

With an annual fee of $120, the BMO® CashBack® World Elite®* Mastercard®* is a fancy loyalty card for Canadians with a minimum personal income of $80.000. To apply for it, you need to have a good or excellent credit score and pay $120 a year. However, you'll get the first year free, plus you'll gain access to numerous perks and benefits.

First, with this card, you can get 1.5% cashback on all your purchases. Second, you get unlimited cashback, with no tiers, categories or caps. Thus, you can use this card anywhere without restrictions and benefit from the amazing savings.

Another reason to choose this loyalty card is due to the premium perks. You can benefit from a $2 million out of country travel medical insurance, trip interruption insurance, car rental insurance, purchase protection and extended warranty. You also get free roadside assistance.

As a welcome offer, you can get a 5% cashback reward for the first 3 months. The BMO CashBack World Elite Mastercard is definitely a great alternative to all other cash back cards out there, being considered to be one of the top loyalty cards in 2022.

The Rogers World Elite Mastercard stands out because it has a cash back rate of 1.75%, that’s one of the best rates in Canada!


In addition, there is no annual fee on this card and there’s a $25 sign up bonus so you can start earning while you spend right away. Card holders earn even more cash on foreign currency transactions. For every dollar spent in another currency, the card holder earns 4%.


The drawback is that you still have to pay foreign transaction fees at 2.5%, but you’re still earning 1.5% on the foreign currency transactions at the end of the day. Lastly, for every dollar spent on Rogers products, you’ll get 2% cash back.

There’s a recently added feature of this card as well. When you earn $20 in cash back rewards, you can redeem the balance and put it towards your credit card balance. If you want to use the cash for something else, you can redeem it whenever you’d like. Cardholders also get access to basic travel and purchase insurance in addition to invites to exclusive Mastercard events such as spa, retail and dining promotions.

All of the cash perks and other benefits of this card are amazing, but there is one disadvantage. In order to obtain this card, you need to earn $80,000 individually or $150,000 within your household. These are quite high salaries that most Canadians don’t earn making it out of reach to many.

Overall, the Rogers World Elite Mastercard is an excellent choice for individuals who incur a lot of foreign transactions either from travelling or purchasing products or services online. It is also favourable from the cash rewards aspect. If you meet the income requirements of this card, look into signing up today!

The Rogers World Elite Mastercard has 2 close cousins from the Rogers family worth reading about:

Rogers Platinum MasterCard

Fido MasterCard

With the CIBC Dividend Visa Infinite Card, the cash back rewards are endless – especially if you use your credit card mostly for gas and groceries. You can earn up to 4% cash back with no limit on the amount you can earn. It’s the best credit card for gas, groceries and family spending.

• Generous earnings on the first months – For the first 4 months, this credit card gives you a 4% cash back on all spend. It’s the perfect way to test if this card suits your lifestyle and spending habits.
• Perfect for families – With 4% regular cash back on gas and grocery purchases, it’s the right credit card for growing families who spend a lot on these key areas.
• Unlimited cash back at the 1% rate – Fill your pockets with rewards with no limits on the 1% cash back range. And with the cap set at $80,000 for the 4% cash back, this credit card still gives you the best return for your purchases.
• Valuable insurance – It comes with purchase protection, emergency medical and trip interruption insurance, accident insurance, and more.
• Travel in style – Experience luxury worldwide travel and hotel benefits when using this credit card.

The CIBC Dividend® Visa Infinite* Card is the perfect card for people who want to get the best possible dividends from their purchases and gas. With this card, you'll get a whopping 4% back on grocery and gas purchases. You'll also get 1% back on everything else.

In order to qualify for this card, you need to have a $60k individual income or $100k as a household. You also need to be willing to invest $120 in the annual fee. However, you can quickly recoup your investment by getting the first year for free, plus an astounding 4% cashback on purchases.

The 4% cashback is the highest in the Canadian market. You'll never find a card that gives you more than that. What's even better is that there is no limit at how much you can make. Get free medical travel coverage, common accident insurance and loss damage insurance.

The CIBC Dividend® Visa Infinite* Card also offers you 24/7 concierge services, exclusive hotel deals and luxury travel benefits. With this card, you can also get personalized discounts and cheques at car rentals and enjoy superior dining experiences anywhere VISA is accepted as a payment method.

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:Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards.
• 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 after the first year.

The Scotia Momentum Visa Infinite card was the winner of the MoneySense best cashback card with a fee in 2020 - and for good reasons! Card holders earn cash back on all purchases at varying rates. There are also other perks of card ownership including access to exclusive Scotiabank events and offers, plus ample insurance coverage.

• Special Welcome Offer. Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards.
• Tiered Cash Back Rates. Earn 4% cash back for every dollar spent on groceries and recurring bill payments. Earn 2% cash back for every dollar spent on gas and daily transit. Finally, earn 1% cash back for every dollar spent elsewhere.
• Additional Perks. Obtain exclusive offers from Scotiabank including concierge service, competitive hotel rates and upgrades, and access to dining and wine country programs.
• Insurance Coverage. Ample coverage comes with this credit card, such as new mobile device, trip cancellation, trip interruption, purchase protection insurance and much more.
• Annual Fee. Gain access to all of the above perks at the cost of $120 after the first year.

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.

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.

• Car Rental Collision Insurance included

• Purchase Security Insurance included

One of the most attractive features of the Home Trust Preferred Visa is the cash back rewards. Cash can be earned on all eligible purchases and there is no limit on how much cash you can earn. Your rewards are paid as a credit to your credit card statement annually (every January).

In addition to the lucrative cash back rewards, there is no annual fee for this card. There are also secondary benefits that card holders are eligible for including no foreign exchange fees.

The most notable of this list is the lack of foreign exchange fees. If you’re an avid traveler or do a lot of online shopping in foreign currencies, the Home Trust Preferred Visa is an excellent choice. Foreign transaction fees might seem like nothing, but they add up, especially when you factor in foreign exchange rates. 

Not only is the Home Trust Preferred Visa great from a financial aspect, the bank itself has stellar ideals and makes it their mission to cater to their customers. They aim to provide financial services to individuals who don’t have a typical credit background and can’t reach their financial goals with traditional banks. 

There are some drawbacks to using this credit card and working with Home Trust. For one, this card is not accessible in Quebec. In addition, the amount of transactions the cardholder can incur per day is ten. Most credit card users won’t exceed this limit, but it’s a hassle to always have it on your mind. The card also does not allow for tap payments and customer service is not available 24/7, only during business hours.

Overall, the Home Trust Preferred Visa is a phenomenal choice. If you’re an individual who travels a lot, this card is especially beneficial considering how rare no foreign transaction fees are in combination with no annual fee. Home Trust is a small, yet effective, bank that delivers to their customers. 

This credit card has a close cousin which is the Home Trust Secured Visa.To get more information read our review on the Home Trust Secured Visa.

The Tangerine World Mastercard is a new addition to Tangerine’s financial products. As with the Tangerine Money-Back Mastercard, there is no annual fee, 2% cash back on three categories and 0.5% cash back on all other purchases. Some of Tangerine’s spending categories include restaurants, furniture, groceries, gas, home improvement and entertainment.

Apply for a Tangerine World Mastercard® by October 31, 2024 and earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.

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 renting cars often. In addition, with the Mastercard LoungeKey membership, you can access airport lounges all over the world at a discounted rate.

All in all, the Tangerine World Mastercard is an excellent choice because of the cash back rewards and other perks. Start earning cash on your expenditures today!

Tangerine Frequently Asked Questions

Tangerine has two credit cards. The Tangerine Money-Back Credit Card and the Tangerine World Mastercard. Both offer no annual fee and a 19.95% interest rate. They offer purchase assurance and extended warranty on products fully purchased with their credit cards.

Tangerine also offers 2% Money-Back Rewards in two categories of your choice and 0.05% on all other everyday purchases. If you deposit your Money-Back directly into a Tangerine savings account, you unlock a third 2% Money-Back Rewards category. This credit card has no cap on the amount of Money-Back Rewards you can earn. The Tangerine Money-Back Credit Card is a great choice and is competitive with the credit card options of big banks. The Tangerine World Mastercard has added benefits and is harder to qualify for. Benefits include: Mastercard travel rewards, Mastercard airport experiences, mobile device insurance, car rental insurance, and worldwide wi-fi hotspot access.

To qualify for this credit card, you must have: a gross annual income of $12,000 plus, be the age of majority in your province or territory, be a permanent resident of Canada and be clear of bankruptcies over the past 7 years.

To qualify for this credit card, you must have: $60,000 plus gross annual income OR $100,000 plus household income OR $250,000 in Tangerine bank accounts. AND you must: be the age of majority in your province or territory, be a permanent resident of Canada and be clear of bankruptcies over the past 7 years.

Yes, Tangerine will do a credit check as you must agree to a credit check as part of your application process for either credit card Tangerine offers.

Tangerine pulls credit history and credit scores using the TransUnion credit reporting agency.

Tangerine does not provide information on their website about how to increase credit card limits. In most cases, maintaining a good payment history and low borrowing load will welcome credit increases. Often banks and creditors will offer regular increases without requests, but you will be asked and must approve these increases. If you would like a credit increase, you can call and speak to Tangerine’s client service representatives, who can walk you through their specific process and submit your request for a credit increase. Tangerine, like most banks, has an online credit increase form you should be able to complete and submit on your own too.

You can apply for a Tangerine credit card online, but you will need to register as a Tangerine client first. If you are already a Tangerine client, you can apply online or call now.

Wondering what's the difference between the 2 cards? Compare the Tangerine Money Back vs World Mastercard®

If you love to get a lot of cash back on your purchases and you want to see those dollars pouring in, then you'll simply love the Simplii Financial® Cash Back Visa* Card. This "simple" cash back card offers some of the best rewards on the Canadian market, giving you cash back of up to 10%.

This amazing card comes with no annual fee and allows you to add up to 3 additional cardholders. It offers you a wide range of rewards, including unlimited cash back, payment app integration, extended protection insurance, purchase security, and extras.

In terms of cash back, you'll earn 4% on eligible restaurants and coffee shops, 1.5% on groceries, pre-authorized payments, gas & drugstore purchases, and 0.5% on all other credit card purchases. You can quickly calculate your cash back with the tool on their website.    

Optionally, you can add CIBC payment protector insurance and emergency travel medical insurance. To become eligible for this card, all you need to have is a minimum of $15k household income.

Neo Financial is a Canadian, technologically driven financial services company. They’ve recently partnered with Mastercard to offer their customers a cash back credit card.  Cardholders earn the highest cash back when they spend with Neo Financial partners. Learn more below.

• Earn cash back rewards on everyday purchases
• Special cash back offers with thousands of partners, including restaurants, gyms, grocery stores and more
• No monthly or annual fees and standard interest rates
• Complimentary, easy to use Neo Financial app
• Able to connect with Apple Pay or Google Pay
• Email and phone customer support available

• Instant cashback
• Up to 15% cashback on f purchases and 5% average cash back at 10,000+ partners
• Mobile app available in the app store and Google Play
• In addition to the physical card, users can add the card to Apple Pay or Google Pay^TM to make contactless payments with a smartphone
• No monthly or annual fees
• Neo Card only requires a credit score of 600+

• Only earn cash back with participating partners
• No basic insurance 

The Neo Card is ideal for individuals who live in urban areas. Neo Financial partners with thousands of restaurants, coffee shops, grocery stores and gas stations. If you don’t live close to the partner vendors, it’ll be challenging to take advantage of the cash back rewards. In addition, Neo Financial’s flexibility and no fees are beneficial for all users.