Best Cashback Credit Cards in Canada
A significant number of credit card holders in Canada don’t earn rewards when they use their cards to spend money. In some cases, redeeming rewards is none too easy. As a result, not many people are interested in collecting reward points that they may then redeem for rewards. This is where cashback credit cards enter the picture. These cards give users the ability to earn cash back as a percentage of every dollar they spend.
Showing 1–16 of 28 results
Specification: Scotia Momentum No-Fee VISA* card
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2% Money-Back Rewards in up to 3 Categories for 3 Months.* |
Specification: Tangerine Cash Back Credit Card
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Specification: Rogers™ Platinum Mastercard®
Earn 1% in unlimited cash back rewards on all other eligible purchases
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Specification: Scotiabank Gold American Express® Card
Earn 20,000 bonus Scotia Rewards points with your first $1,000 in everyday purchases in the first 3 months.1
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Specification: Scotia Momentum® Visa Infinite* Card
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With the Award-Winning Scotiabank Passport™ Visa Infinite* Card earn up to 35,000 bonus Scotia Rewards points in your first year (that’s up to $350 towards travel) |
Specification: Scotiabank Passport™ Visa Infinite* Card
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Earn 2,500 bonus SCENE points for everyday purchases of $ 500 in the first three months |
Specification: Scotiabank SCENE®* Visa* Card
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7.99% introductory interest rate on purchases for the first 6 months (19.99% after that) |
Specification: Scotia Momentum® Mastercard®* Credit Card
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2.99% introductory interest rate on balance transfers for the first 6 months |
Specification: Scotia Momentum® Visa* Card
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Specification: Scotiabank American Express® Card
Scotiabank is offering an American Express Card that gives customers plenty of ways to earn and redeem Scotia Rewards points. Points can be earned and spent both at home and abroad. The card also offers peace of mind to the user by making available different insurance protections.
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Earn 30,000 bonus Scotia Rewards points upon first purchase |
Specification: Scotiabank Platinum American Express® Card
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Get 5,000 bonus Scotia Rewards points on your first purchase |
Specification: ScotiaGold Passport® Visa* Card
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Earn up to 5% in GM Earnings1 on the first $10,000 of everyday purchases annually 5% |
Specification: Scotiabank® GM®* Visa Infinite* Card
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Earn up to 5% in GM Earnings1 on the first $10,000 of everyday purchases annually 5% |
Specification: Scotiabank® L’earn™ Visa* Card
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Earn 5% in GM Earnings1 on the first $5,000 spent annually, and 2% thereafter |
Specification: Scotiabank SCENE®* Visa* Card-Student
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Specification: MBNA Rewards Platinum Plus® Mastercard®
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Specification: MBNA Smart Cash Platinum Plus® Mastercard®
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Then get 1% cashback on all credit card purchases! |
Specification: BMO® CashBack® Mastercard®*
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How Do You Earn Cashback?
When you use a cashback card and make qualifying purchases, you earn cashback. While some cards have no limits to how much cashback you might earn, some others have caps in place. For example, a card may offer cashback on all purchases, up to a maximum spending amount of $2,500 per month or even up to $100,000 per year.
Some cashback credit cards offer higher cashback returns for purchases made in specific categories. For instance, a card might offer 4% cashback on groceries and gas, 2% cashback on recurring payments, and 1% cashback on all other purchases.
In some cases, you might benefit from getting a higher cashback of 4% to 10% for an introductory period of three to six months. Some cards also come with welcome cashback bonuses that cardholders can earn by meeting specific spending criteria.
When Do You Get Your Cashback?
When you receive your cashback depends on your card provider. In some instances, you need to earn a minimum amount of cashback before redeeming becomes possible. Some cashback credit cards offer cash back rewards once a month, and in some cases, it might extend to once a year.
Annual Fees
You can find cashback credit cards that charge no annual fees. However, they usually don’t offer much in the form of additional features. Annual fees, when applicable, typically vary from $99 to $199. Depending on the card you get, you might qualify for a first year fee waiver. If you choose to apply for a card that attracts an annual fee, determine if the cash back you earn will offset the fees you pay ahead of time.
Additional Benefits
Depending on the card you get and the annual fee you need to pay, you might get access to a range of benefits. These include:
- Mobile device insurance
- Travel insurance
- Purchase protection
- Extended warranties
- Concierge service
- Visa Infinite Dining and Music Series / American Express Invites
- Balance transfer
- Referral bonus
- Auto Club membership
- Medical insurance