The Top Cash Back Credit Cards in Canada

You are earning money while you spend, which sounds like a dream. Well, with the right cashback credit card, it’s entirely possible! Across Canada, several credit cards are designed to fit various spending habits, offering you a chance to get a portion of your money back. Whether you’re a frequent shopper, a food enthusiast, or someone looking to maximize rewards on daily purchases, there’s a card out there for you. Let’s dive into some of Canada’s best cashback credit cards, making spending more rewarding.

1. The Daily Spender: Tangerine Money-Back Credit Card

Perfect for those who enjoy customizing their rewards, the Tangerine Money-Back Credit Card lets you choose two (or three, if you deposit your cash back into a Tangerine Savings account) categories to earn 2% cash back. From groceries and gas to recurring bill payments, tailor your rewards to fit your lifestyle. This card is a solid choice for everyday use with no annual fee.

2. The Big Purchaser: SimplyCash Preferred Card from American Express

This card might be your match if you’re all about the big spends and want more cash back for your buck. The SimplyCash Preferred Card from American Express offers a generous cashback rate of 2% on all purchases, with no limit on the amount you can earn. There’s an annual fee, but the potential rewards quickly cover it for heavy spenders.

3. The Frequent Diner and Traveller: Scotia Momentum VISA Infinite Card

Do you spend a lot on dining and travel? The Scotia Momentum VISA Infinite Card offers 4% cash back on groceries and recurring payments, 2% on gas and daily transit (including rideshares, buses, and subways), and 1% on everything else. With added benefits like travel insurance and concierge services, the annual fee can be worth it for those who spend heavily in these categories.

4. The No-Fee Enthusiast: Tangerine Money-Back Credit Card

Yes, it’s mentioned again for a good reason! The Tangerine Money-Back Credit Card stands out for those opposed to annual fees but still looking for solid cashback options. Its flexibility and no annual fee make it attractive for anyone earning cashback without extra costs.

5. The Family Shopper: CIBC Dividend Visa Infinite Card

For families that find their shopping carts always full, the CIBC Dividend Visa Infinite Card offers 4% cash back on groceries and gas, 2% on telecommunications, and 1% on everything else. The card comes with an annual fee, but the cash back earned from family-sized spending can quickly offset this cost.

Wrapping Up

The best cashback credit card depends on your spending habits and lifestyle. Whether you’re a big spender, a frequent diner, a family shopper, or someone looking for no-fee options, there’s a card in Canada that can help you earn more from your purchases. Remember, choosing a card that aligns with where you spend the most is the key to maximizing rewards. Happy spending and saving!