My Rate Compass

Best Cash Back Credit Cards in Canada for 2020

 
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 21.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • No annual fee
  • Get rewarded for groceries
  • Unlimited cash back
  • Savings on gas
  • Worry-free purchases
  • Accepted worldwide
Why we like it

With grocery being the top consumer purchase in Canada, the RBC Cash Back MasterCard is a good credit card to consider if you are on a lookout for a practical cashback card. It offers 2% cash back on groceries from a large pool of participating stores, including Loblaw, Walmart Superstores, Quality Foods, and more. It also gives instant gas savings at Petro-Canada locations. And at zero annual fee, this cashback MasterCard easily delivers the best value with no commitment on your part.

  • No annual fee -This cashback credit card stands out with $0 annual fee.
  • Get rewarded for groceries -Use it for groceries and earn 2% cashback on purchases up to a maximum of $6,000 annually.
  • Unlimited cash back - 1% cash back on other purchases, including bill payments.
  • Savings on gas - Get more savings for fuel purchases at Petro-Canada when you link your Petro-Points Card to this credit card.
  • Worry-free purchases - It offers damage, loss and theft protection as well as extended warranty for items purchases using your card.
  • Accepted worldwide - Because it is a MasterCard, this credit card is widely accepted internationally.
Credit Card snapshot

No annual fee

Unlimited cash back and 2% back on groceries

Easy and convenient to earn cash back

2% cash back credits on grocery store purchases

Up to 1% cash back credits on all other qualifying purchases and pre-authorized payments

No limit to what you can get back

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.95%
Cash Advance Interest Rate: 19.95%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • No annual fee
  • Unlimited rewards
  • Automatic monthly cash back redemption
  • Flexibility
  • Get more rewards
Why we like it

Regarded as the best no-fee cash back 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.
Credit Card snapshot
SPECIAL OFFER

Earn 4% Money-Back Rewards on purchases in two Money-Back Categories of their 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
Poor / No Credit
Fair / Average
Good / Excellent
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
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.
Credit Card snapshot

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: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Appealing low balance transfer offer
  • $0 annual fee
  • Cashback on four key areas
  • Peace of mind
Why we like it

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
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • No annual fee
  • 1% CashBack
  • No foreign transaction fees
Why we like it

The Home Trust Preferred Visa provides 1% cash back rate along with its no foreign transaction fees which is excellent for travelers. In fact, cardholders will be saving 2.5% fees on purchases made outside Canada or in a foreign currency. The combination of these 2 features make this card a great card to have, especially when there is no annual fee.

  • No annual fee
  • 1% CashBack
  • No foreign transaction fees
Credit Card snapshot
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 back on all their purchases. Most importantly there are no restrictions and no limits to the cash back that you can earn with the home trust visa.


  • No annual fee
  • 1% CashBack with no limits to your total rewards
  • No restrictions on where you earn your rewards1
  • Roadside Assist membership at no extra charge
  • No foreign currency conversion surcharges2