Best Credit Cards: Cash Back

Updated Jan 10, 2025
best cash back cards featured
Best Credit Cards: Cash Back

Here are the best cash back credit card offers in Canada:

BMO

BMO CashBack® World Elite®* Mastercard®* is one of Canada’s best cash back Mastercard credit cards.

Right now, for a limited time, you’ll get up to 10% cash back for the first 3 months, for a maximum return of $260 on $2,600 in purchases.

You’ll also receive an additional $75 bonus if you spend at least $25,000 in the first year.

Plus, there is no annual fee for the first year!

With BMO CashBack® World Elite®* Mastercard®*, you get between 2% and 5% cash back on many categories of purchases:

  • 5% on grocery purchases (on the first $500 you spend monthly)
  • 4% on transit (on the first $300 you spend monthly)
  • 3% on gas and electric vehicle charging (on the first $300 you spend monthly)
  • 2% on recurring bill payments (on the first $500 you spend monthly)

Everywhere else, you’ll earn 1% cash back, including at Costco.

Finally, it is one of the only credit cards in its category to offer an extended warranty of 2 additional years.

CIBC

The CIBC Dividend® Visa Infinite* Card is one of the best Visa credit cards with cash back in Canada.

Right now, with this welcome offer, get a 10% welcome bonus in the form of up to $250 cash back (period covered by your first 4 statements) and a rebate on your first year’s annual fees†!

Plus, receive $50 cash back when you set up a pre-authorized payment within the first 4 months.

With this CIBC cash back credit card, you earn:

  • 4% cash back on gas, EV charging, and grocery purchases†
  • 2% cash back on eligible transportation, dining purchases and recurring payments†
  • 1% cash back on all other purchases†

For example, if you spend $1,000 per month on groceries and/or gas and/or electric vehicle charging, you’ll earn $40 cash back per month or $480 cash back per year with this card for this category of purchases!

And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).

And this CIBC Cash Back Credit Card offers many insurance coverages:

  • Auto Rental Collision/Loss Damage Insurance
  • $500,000 Common Carrier Accident Insurance
  • Out-of-Province Emergency Travel Medical Insurance
  • Purchase Security and Extended Protection Insurance

Rogers

Rogers Red World Elite® Mastercard® is one of the best no-annual-fee cash-back credit cards in Canada.

With Rogers Red World Elite® Mastercard®, you get 2% cash back on all your purchases (including at Costco) if you have an eligible service with Rogers, Fido or Shaw.

Alternatively, earn 1.5% unlimited cash back on all eligible purchases in currencies other than U.S. dollars.

Receive 3% cash back on all purchases in U.S. dollars (making this credit card particularly suitable for snowbirds) and a 50% bonus on the value of your cash back every time you redeem it for Rogers, Fido or Shaw products.

Moreover, Rogers customers get 5 Roam Like Home days at no cost every year for Rogers mobile plans (up to $80 value).

As Rogers Red World Elite® Mastercard® is a World Elite Mastercard, you benefit from a free subscription to Mastercard Travel Pass (offered by DragonPass) giving access to over 1,300 airport lounges worldwide (US$32 per person per visit).

Finally, you’re protected by a wide range of insurance coverages, such as :

  • Extended Warranty and Purchase Protection
  • Rental Car Collision/Damage
  • Out-of-province/country emergency medical care
  • Trip Interruption Insurance
  • Trip Cancellation Insurance

Scotiabank

The Scotia Momentum® VISA Infinite* card is recognized year after year as one of the best cash-back credit cards in Canada.

Currently, there is no annual fee in the first year, including on additional cards. And you can earn 10% cash back on all purchases for the first three months (up to $2,000 in total purchases).

With the Scotia Momentum® VISA Infinite* card, you get:

  • 4% on groceries and recurring payments
  • 2% on gas and daily transit
  • 1% on all other purchases

For example, if you spend $1,000 per month on groceries and/or recurring payments, you’ll earn $40 cash back per month, or $480 cash back per year with this card for this category of purchases! And that’s not counting the other purchases you’ll make with this card and the advantages it offers (particularly in terms of insurance).

If you rent, for example, you could use the Scotia Momentum® Visa Infinite* Card on the Chexy website to pay your rent and get 4% cash back!

The Scotia Momentum® VISA Infinite* card is an excellent Visa credit card for cash back.

And its insurance benefits are excellent!

TD

With the TD Cash Back Visa Infinite* Card, you earn 3% in Cash Back Dollars on:

  • Grocery stores
  • Gas stations
  • Recurring invoices

And 1% cash back on all other purchases.

It’s the best TD cash back credit card, especially for gas purchases.

With this new welcome offer, you could earn 10% cash back on gas and grocery purchases and pre-authorized payments for the first three months (up to $3,500 in purchases). So you can earn up to $350 cash back!

Plus, a first-year annual fee rebate for the Primary and Additional Cardholders.

Finally, you have good insurance coverage, such as travel medical insurance, delayed or lost baggage insurance, collision/loss damage insurance for car rentals and mobile device insurance.