MoneySense curated this listing of one of the best money again bank cards in Canada that will help you maximize your rewards in your on a regular basis purchases. Whether or not you’re searching for excessive earn charges, low charges and/or different advantages, our bank card information will make it easier to discover the proper card to spice up your cash-back financial savings.
Featured money again bank cards
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Gold: Greatest money again card
Rogers Pink World Elite Mastercard
Earn a minimal of 1.5% money again on all purchases, and three% on U.S. greenback purchases. Redeem rewards once you need.
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Curiosity Charges:
25.99% buy, 27.99% money advance, 27.99% stability switch
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Silver: Greatest money again card
CIBC Dividend Visa Infinite Card
Earn 4% money again on fuel and groceries, and save on the pump with unique gas reductions.
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Curiosity Charges:
20.99% buy, 22.99% money advance, 22.99% stability switch
Welcome provide:
$250 worth
Be part of and earn over $400 in worth together with a primary yr annual payment rebate.†
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Bronze: Greatest money again card
SimplyCash Most popular Card from American Categorical
Get a minimal of two% money again on all of your purchases—one of many highest base charges in Canada.
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Curiosity Charges:
21.99% buy, 21.99% money advance, N/A stability switch
Welcome provide:
$250 worth
Earn a bonus 10% money again on all purchases on your first 3 months (as much as $2,000 in purchases). Plus, earn a $50 assertion credit score once you make a purchase order in month 13. This might add as much as $250 in bonus worth in your first 13 months.
Examine common money again bank cards
Examine one of the best journey bank card choices in Canada with our interactive software and filter bank cards primarily based in your spending wants, together with rewards worth, annual charges, revenue necessities and extra. Use this software to check bank card choices, or maintain scrolling for our editors’ high picks.
MoneySense award winners
We break down the professionals and cons of our gold, silver and bronze-winning journey bank card picks. Scroll additional for different good choices, together with one of the best airline bank card and greatest no-fee various.
Gold: Rogers Pink World Elite Mastercard
At a look: The Rogers Pink World Elite Mastercard is one of the best money again bank card in Canada, providing a excessive earn price of 1.5% on all purchases—so there’s no have to strategize spending by maximizing bonus classes. Plus, the accelerated price of three% on all U.S. purchases is sufficient to cowl international transaction charges. This additionally supplies distinctive journey perks, together with airport lounge entry, and emergency medical and journey cancellation insurance coverage, all with out an annual payment. The Roger Pink World Elite Mastercard is our choose for greatest no payment money again bank card in Canada.
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Rogers Pink World Elite Mastercard
Annual payment: $0
Welcome provide: None right now.
Card particulars
| Rates of interest | 25.99% on purchases, 27.99% on money advances, 27.99% on stability transfers |
| Earnings required | $80,000 per yr |
| Credit score rating | 725 or greater |
Execs
- Strong rewards: Earn 1.5% on all purchases made in Canada. And as a Mastercard, this is likely one of the greatest playing cards to make use of at Costco, which doesn’t settle for Visa or American Categorical.
- Rogers, Fido and Shaw clients earn extra: Clients get 2% money again on all purchases (as an alternative of the usual 1.5%). Plus, after they redeem money again with Rogers, Fido or Shaw, the rewards are price 1.5 instances extra. For instance, $100 in money again turns into $150 when utilized to a Rogers invoice.)
- Save on roaming charges: The cardboard comes with 5 Roam Like House days yearly for gratis for Rogers cellular plans, price as much as $80.
- Nice for U.S. procuring: Earn 3% money again on purchases in U.S. {dollars}, offsetting the standard 2.5% international transaction payment.
- No annual payment: That is unusual for World Elite Credit cards in Canada.
- Versatile redemptions: Redeem rewards towards purchases in your card for as little as $10.
Cons
- Excessive revenue requirement: As a World Elite Mastercard, the eligibility necessities would possibly put it out of attain for some Canadians.
Silver: CIBC Dividend Visa Infinite
At a look: The CIBC Dividend Visa Infinite presents excessive earn charges on on a regular basis purchases. You gained’t discover a higher price on groceries rewards or fuel rewards (which incorporates EV charging spends), making it one of many highest money rewards bank cards round. Plus, you may redeem your money again anytime and save on the pump with unique gas reductions.
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CIBC Dividend Visa Infinite
Annual payment: $120 (rebated first yr)
Welcome provide: Rise up to $400 in worth, together with a first-year annual-fee rebate. Provide not accessible to Quebec residents.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
| Earnings required | Private revenue of $60,000 or family revenue of $100,000 |
| Credit score rating | 725 or greater |
Bronze: Tangerine Cash-Again Credit score Card
At a look: The Tangerine Cash-Again Credit score Card is likely one of the most flexible-earning money again bank cards in the marketplace, permitting you to choose as much as three 2% bonus classes of your selection, from an inventory of 10. Higher but, you may change your classes as wanted, with 90 days’ discover.
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Tangerine Cash-Again Credit score Card
Annual payment: $0
Welcome provide: Earn an additional 10% money again throughout the first two months (as much as $100 in money again).
Card particulars
| Rates of interest | 20.95% on purchases, 22.95% on money advances and 22.95% on stability transfers |
| Earnings required | Private or family revenue of $12,000 |
| Credit score rating | 660 or greater |
Extra Canadian money again playing cards with aggressive charges and perks
Greatest Amex money again bank card: American Categorical SimplyCash Most popular
At a look: The American Categorical SimplyCash Most popular presents spectacular earn charges on grocery and fuel purchases, two of the most-used spending classes. It additionally has the best base earn price in Canada: at 2%. Mixed with strong insurance coverage protection, entry to Amex advantages and free supplementary playing cards, this can be a sturdy possibility for many who need an Amex card.
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Amex SimplyCash Most popular
Annual payment: $120
Welcome provide: Earn a bonus 10% money again on all purchases on your first three months (as much as $2,000 in purchases) and a $50 assertion credit score once you make a purchase order in month 13 (whole worth of as much as $250).
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Earnings required | None specified |
| Credit score rating | 725 or greater |
Greatest on the spot approval money again card: SimplyCash Most popular Card
At a look: If you wish to get going with among the finest cashback bank cards in Canada with out ready out the usual approval time, take a look at the SimplyCash Most popular from American Categorical.With a robust again price of two% on every part you purchase plus an accelerated 4% money again price for fuel and grocery costs, this bank card makes money again straightforward to know and even simpler to earn.
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SimplyCash from American Categorical
Annual payment: $0
Welcome provide: Earn a bonus 5% money again in your first $2,000 in purchases throughout your first three months (as much as $100 in bonus money again).
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Earnings required | None specified |
| Credit score rating | 725 or greater |
Greatest pupil money again bank card: BMO CashBack Mastercard
At a look: It’s not usually you get excessive money again charges with a free card however the BMO CashBack Mastercard supplies simply that. Combining no annual payment with a formidable 3% money again price on grocery purchases, this card is ideal for college kids trying to earn money rewards in a high-spend class.
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BMO CashBack Mastercard
Annual payment: $0
Welcome provide: Earn as much as 5% money again throughout your first three months.
Card particulars
| Rates of interest | 21.99% on purchases, 23.99% on money advances, 23.99% on stability transfers |
| Earnings required | $15,000 per yr |
| Credit score rating | None specified |
Steadily requested questions on evaluating Canadian money again playing cards
Why isn’t Wealthsimple’s money again card on this listing?
As editors and individuals who care that you would be able to apply for the playing cards on this listing, we would like you to have entry to one of the best money again playing cards in Canada. Nevertheless, the discharge of Wealthsimple Visa Infinite is a gradual one. There was a delicate launch in April 2025, giving entry of the cardboard to pick out shoppers. Then the fintech opened up purposes to a different 20,000 Canadians. However till the Wealthsimple money again bank card is extensively accessible for Canadians to use, we gained’t be capable to suggest it for Canadians.
Learn: Is Wealthsimple a financial institution? Not precisely, but it surely’s launching new “banking” companies
What’s the distinction between money again and journey rewards?
Many Canadians discover themselves torn between money again and journey bank cards. In each circumstances, you may earn rewards primarily based in your spending, however there are some key variations. In the event you’re attempting to decide on between the 2, it’s useful to check them primarily based on a number of key components.
Simplicity: With money again playing cards, you earn a refund in your purchases. Though there might be some variation relying on charges and spending classes, money is straightforward to know. Some journey bank cards have sophisticated charts, earn charges, and redemption values. Nevertheless, they usually provide excellent worth on travel-related bills.
Rewards and bonuses: The vast majority of money again bank cards provide the identical restricted choice of bonus classes (specifically fuel, groceries and utility payments). Compared, journey bank cards have a far bigger choice of bonus classes (like eating places, lodge stays, flights, Uber rides and public transit, along with the groceries and fuel), which suggests you may probably earn extra factors on extra sorts of purchases.
Flexibility: Money is king and you should use it to purchase something–together with journey. Nevertheless, for those who’re trying to save on flights and lodge stays, a journey card can provide significantly extra worth.
Perks and extras: With a a refund bank card, the reward is money.In the event you’re searching for little extras, your greatest guess is a journey rewards card.
How can I earn money again quicker?
If you wish to earn money again quicker, there are some things you are able to do. Step one is to decide on a card that matches properly along with your spending patterns–and remember the fact that this will likely or will not be a no-fee card. For instance, if a card presents boosted charges in a high spending class for you and your loved ones, it’d make sense to pay an annual payment. When you’ve bought the best cashback card in your pockets, use it for all of your on a regular basis purchases, particularly in accelerated spending classes, and particularly throughout promotions or particular occasions. Lastly, you may give supplementary playing cards to your (trusted) family and friends so that you maximize their spending energy.
Which bank cards provide 5% money again or extra? Which card provides 5% money again?
An earn price of 5% is excellent in Canada, however it may be discovered. The BMO CashBack World Elite presents 5% again on groceries with an annual price of $120. For $125 per yr, you should use the Neo World Elite Mastercard which begins with 5% cashback on groceries and presents 7% as a boosted price for many who financial institution with them. Additionally control welcome promotions as a lot of them provide money again charges of 5% and better for a restricted time.
Which Costco card has 3% money again?
You’ll be able to store at Costco with quite a lot of playing cards together with the CIBC Costco Mastercard which supplies you a 3% money again price at eating places and Costco fuel stations. You would possibly use another card on your Costco purchases. The Roger Pink World Elite Mastercard, for instance, is accepted at Costco and presents 3% on all U.S. greenback purchases and has a 1.5% money again base price which is bumped as much as 2$ for Rogers or Fido clients..
Does Customers Drug Mart provide money again rewards?
Customers is a part of the PC Optimum rewards program, which helps you to earn factors redeemable for merchandise in associate shops. There are many methods to earn factors once you store, and you may redeem 10,000 PC Optimum factors for $10 off nearly something by telling the cashier. The financial savings come off on the until. You’ll be able to construct up your factors quicker by procuring at Customers with a PC Monetary Mastercard.
What are the disadvantages of a money again card?
Money again playing cards are a superb software for some individuals and a few spending profiles however they arrive with drawbacks. For instance, cashback bank cards sometimes include few advantages like included insurance coverage or airport lounge entry. In the event you want a card that gives these extras, a journey card may be a better option. One other downside may be that once you take your rewards in money, you may be getting much less on your buck. Many rewards playing cards beef up the worth of their factors so that you get extra once you redeem than you would possibly by shopping for a reward straight. In the event you’re concerned with particular sorts of rewards, it usually pays to analysis factors applications.
Are cashback playing cards price it?
Regardless of any drawbacks, cashback playing cards reward you with money which is versatile and simple to redeem with out blackout dates, sophisticated charts, or different restrictions. In the event you’re searching for a technique to put your spending to be just right for you, a money again card is a robust selection.
Are you taking advantage of your money again bank card
In order for you extra cash-back rewards, it’d imply making use of for a brand new money again card or your money again bank card habits. Take a look at the following pointers that will help you get extra money again.
By no means carry a stability
The massive payoff with a money again bank card is the money—a reward that may be simply cancelled out by any penalties and curiosity accrued for those who carry a stability. Like all rewards bank cards, money again playing cards have a tendency to hold annual rates of interest on the greater finish, normally round 19.99%. At this price, unpaid debt will quickly accumulate curiosity fees that eat up any good points you’ve made. So long as you repay your stability in full each month, you’ll keep away from this pitfall. However for those who discover you often carry a stability, contemplate a low curiosity bank card as an alternative.
Examine your money again card choices
It’s straightforward to go together with the money again card supplied by your present financial institution, however that’s not all the time your best option. Take the time to check your choices to determine the cardboard that delivers the best return primarily based in your specific spending habits and life-style. Bear in mind: you don’t have to open a chequing or financial savings account with a financial institution with a purpose to get a bank card from there, and you may pay your invoice electronically from any checking account.
Don’t dismiss money again playing cards with an annual payment
Whereas it may appear counterintuitive to pay an annual payment on a money again card, bear in mind that playing cards with a payment usually ship higher rewards and perks. If these perks are price greater than the annual payment (and if the cardboard suits your spending habits in different methods), you would possibly select a money again card with a payment.
Think about using a number of bank cards
Having too many lively bank cards with balances, , is usually frowned upon, as this generally is a signal of unhealthy funds and insolvency. Nevertheless, having a couple of card and a robust credit-card technique generally is a good factor, together with pairing playing cards to maximise advantages. For instance, the TD Money Again Visa Infinite presents 3% again on fuel, groceries and recurring payments, however only one% on every part else, whereas the Tangerine Cash Again Card has no annual payment and presents 2% again in as much as three spending classes of your selection. Strategically it could make sense to pick out drug shops, parking/public transit and eating places to fill within the gaps on on a regular basis spends with out having to pay extra for the higher earn price. Suppose outdoors the field when establishing your spending technique with money again bank cards in Canada.
Add your associate as a certified consumer
Including a certified consumer, sometimes your associate, to your account generally is a cost-effective (and even free!) technique to increase your earnings on a premium card. With this setup, each cardholders accrue rewards or money again on their spends with out paying double the annual charges. If, for instance, your card has a $120 annual payment, you would possibly be capable to get a further licensed consumer for as little as $30 extra. Some premium playing cards, just like the SimplyCash Most popular from American Categorical, even allow you to add licensed customers at no cost—no further annual payment. It does bear mentioning that this requires some thought, as solely the first cardholder will probably be answerable for paying off the stability—not the licensed customers.
Money again playing cards versus journey bank cards
When selecting a rewards bank card, many Canadians discover themselves torn between two varieties: Money again and journey. This shouldn’t come as a shock—each are common and have helpful strengths. Right here we break down each card varieties that will help you resolve which card is best for you.
Simplicity
It’s essential to know how your bank card rewards program works. Money again bank cards are about as clear as you may get. In the event you earn 2% again, you completely know you’re going to obtain $0.02 on each $1—no sophisticated calculations required. With journey rewards bank cards, there are generally totally different earn charges and redemption values. These variables can have an effect on how or once you need to gather or redeem.
Cashback vs. journey bank cards: In the event you’re invested in incomes journey rewards, acquainting your self along with your card’s program could also be one of the simplest ways to go, in any other case you may’t high money for its simplicity and adaptability.
Rewards and bonus classes
The way you earn might be simply as essential as what you earn. Journey rewards bank cards normally provide a really extensive breadth of spending classes to earn in, whereas money again playing cards might be extra restrictive.
Except for a number of exceptions, the vast majority of a refund bank cards provide the identical restricted choice of bonus classes (specifically fuel, groceries and utility payments). Compared, journey bank cards have a far bigger choice of bonus classes (like eating places, lodge stays, flights, Uber rides and public transit, along with the groceries and fuel), which suggests you may probably earn extra factors on extra sorts of purchases.
Flexibility
The rationale it’s stated that “Money is king” is as a result of cash can be utilized for something you need, reminiscent of on a regular basis spending on fuel and groceries. In distinction, the factors earned on journey playing cards are normally geared towards journey rewards and provide one of the best worth when redeemed for flights and lodge stays.
Cashback vs. journey bank cards: Money is essentially the most liquid reward there’s, however for those who’re trying to save on flights and lodge stays, a journey card can provide significantly extra worth.
Welcome bonuses
Sometimes, journey rewards playing cards can provide lots of of {dollars} in rewards as a welcome bonus promotion, whereas money again playing cards normally provide an elevated incomes proportion for a brief introductory time. One factor to notice: bonuses on money again bank cards are normally simpler to earn—whereas journey rewards playing cards normally are price extra however have stricter spending necessities.
For instance, with the BMO World Elite Mastercard, you may get 3,000 bonus factors ($240 worth) solely after you spend $3,000 on the cardboard inside your first three months. In distinction, the BMO CashBack World Elite’s welcome provide permits you to earn 5% money again proper out of the gate on all of your purchases for the primary three months but it surely maxes out at simply $200.
Cashback vs. journey bank cards: The welcome bonuses on money again bank cards in Canada are sometimes price much less however are simpler to get than the presents accessible on journey playing cards.
Aspect perks
Perks are advantages accessible to you as a cardholder. These are normally issues like airport lounge entry, longer and extra complete journey insurance coverage protection, and refunds on sure bills like a Nexus entry payment. As you may see, perks are fairly often tied on to journey, so it ought to come as no shock that you just’re extra more likely to discover them on journey rewards playing cards than on money again playing cards.
Cashback vs. journey bank cards: In some ways, money is the perk on a money again card. In the event you’re searching for little extras, your greatest guess is a journey rewards card.
Different methods to earn cash-back rewards
Bank cards aren’t the one technique to earn cash-back rewards. Contemplate a money again debit card (learn our greatest debit playing cards rating). It’s a approach utilizing your individual cash and with out the danger of owing curiosity or not paying the stability off on time—which may negate a few of your rewards. One other hack: Use your money again checking account and switch cash to a pay as you go bank card. That’s good for journey or on-line procuring. Test your banking app to see if that’s an possibility with the cash-back financial savings account (learn our greatest excessive curiosity financial savings accounts rating).
