12 Best Cash-Back Credit Cards in Canada for September 2024

Why we like it

Earn up to $1,000 in cash back on grocery shopping and recurring bill payments with a 4% rewards rate in both categories.

Pros

• It’s rare for a credit card to offer 4% cash back on two major spending categories. It’s even rarer to set a $25,000 annual limit to that 4% — a $1,000 value — before reverting to the healthy 1% base rate.
• You can waive the $120 annual fee every single year by using the Scotiabank Ultimate Package.

Cons

• The cash back earned is hands-off. You have to wait until November, and then it’s only redeemable as a statement credit. If you have a Scotiabank account, that annual payout can be deposited into your bank account.
• The 4% rate won’t mean much to you if you don’t buy a lot of groceries or often buy your food at somewhere that Visa doesn’t classify as a grocery store or supermarket, such as Canadian Tire, FreshCo, London Drugs, Walmart and No Frills.

• SPECIAL OFFER: Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards. Offer ends October 31, 2024.
• Earn 4% for every $1 you spend on grocery store purchases, recurring bill payments, and subscription purchases.
• Earn 2% for every $1 you spend on gas purchases and daily transit purchases.
• Earn 1% cash back on all other purchases with no cash back limit.
• Redeem cash back as a statement credit in November.
• Visa Infinite benefits, including Visa Infinite* Concierge, Visa Infinite* Luxury Hotel Collection, Visa Infinite* Dining Series, and entertainment and lifestyle offers.
• Save up to 25% off base rates at participating AVIS locations and at participating Budget locations in Canada and the U.S.
• Access to Scotia SelectPay™.
• To be eligible, $60,000 (individual) or $100,000 (household) annual income is required, or $250,000 minimum assets under management. Also, you must have a Canadian credit file and be a Canadian resident that is the age of majority in the province or territory where you live.
• Terms and Conditions Apply. Click ‘Apply Now’ for complete details.

If this card doesn’t seem like a good fit for your wallet, take a look at NerdWallet’s selection of the best credit cards to help find the right option for you.

Secured Neo Mastercard earns cash back rewards and offers access to high-interest savings.

Pros

• A small $50 minimum deposit makes this card accessible to consumers of all budgets.
• Cashback rate of up to 4%.

Cons

• Interest rates could be as high as 29.99% for some users.

• Build credit history with on-time payments.
• Set your credit limit and get started with as little as $50.
• Guaranteed approval with no credit score needed to apply.
• 0.5% guaranteed monthly minimum cashback.
• Only $5 / Month
• Depending on your Required Everyday account balance, customers can earn cashback up to 4% on gas, 4% on groceries, and 1% on all other purchases (up to a yearly spend cap).
• Personalized Insights AI generates tailored information and recommendations designed specifically for you.

Whether you’re looking to build credit from scratch or rebuild credit after a bad setback, a secured credit card can be an invaluable tool. See our selections for the best secured credit cards in Canada to find options that will help you strengthen your credit.

Why we like it

The BMO CashBack® Mastercard®* for Students has impressive earn rates — including 3% on groceries — and valuable perks, all without an annual fee.

Pros

• Earn flexible and easy-to-redeem cash rewards on everyday purchases.
• There’s no minimum threshold for redeeming your cash-back rewards. Redeem as little as $1 if you want.

Cons

• Accelerated earn rates for groceries and recurring bills are capped at $500 per billing cycle.
• Insurance is limited to extended warranty and purchase protection.

• Welcome offer: Get 5% cash back in your first 3 months.*
• Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
• Now earn the highest cash back on groceries in Canada without paying an annual fee!†
• Get cash back every time you spend, plus start building a healthy credit history.
• Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account.*
• No Annual fee.*
• Extended Warranty.*
• Purchase Protection.*
• Receive a discount on car rentals.*
• *Terms and conditions apply.
• †Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of January 4, 2023.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

Finding a student credit card with the right combination of features for your lifestyle can be daunting, especially if it’s your first time choosing a card. Compare our picks for the best student credit cards in Canada to find the best choice for you.

Why we like it

You won’t need a strategy to make the most out of this bonus-category card. The BMO CashBack® World Elite®* Mastercard®* spends like a flat-rate card thanks to stellar rates on four popular daily spending categories.

Pros

• Score generous cash-back rates for popular spending categories: 5% on groceries, 4% on transit, 3% on gas, 2% on recurring bills, and 1% on everything else.
• Feel protected with 13 types of insurance and fantastic travel benefits.

Cons

• Spending categories come with easily-hit spending caps, but the 1% base rate still earns you value once you hit your monthly bonus rate limits.
• The $120 annual fee is pretty steep. While we think you’ll more than make up for it through cash back savings, the no-fee BMO CashBack® Mastercard®* is a great alternative.

• Welcome offer: Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.*
• Earn more cash back on the categories that mean the most: 5% on groceries.* 4% on transit including ride sharing, taxis and public transportation.* 3% on gas and electric vehicle charging.* 2% on recurring bill payments like your monthly phone bill or favourite streaming service.* 1% unlimited cashback on all other purchases.*
• Get the highest cash back earn rate on groceries in Canada.†
• Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services.
• Extended Warranty Plus.*
• Purchase Protection Plus.*
• Complimentary membership in Mastercard Airport Experiences provided by LoungeKey.*
• Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges.*
• Complimentary Roadside Assistance Program.*
• BMO CashBack World Elite Travel and Medical Protection.*
• BMO Concierge Service.*
• Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.
• *Terms and conditions apply.
• †Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of January 4, 2023.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

No single rewards card is right for everyone. It’s all about how you spend money and what kind of rewards you value. See our choices for the best rewards credit cards in Canada to select the best option for you.

Why we like it

You can earn unlimited cash back at a 2% rate in up to three categories of your choice and 0.50% back on other everyday purchases while benefiting from exclusive Tangerine World Mastercard® perks and insurance cover.

Pros

• Choose the best 2% rewards categories for you based on your spending.
• A variety of additional perks like savings on subscription services, rental car collision/loss damage, mobile device insurance, and more.

Cons

• Higher eligibility requirement for gross income.

• Apply for a Tangerine World Mastercard® by October 31, 2024 and earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.
• Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
• Have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.
• No limit on the amount of Money-Back Rewards you can earn.
• Change your 2% Money-Back Categories to suit your spending.
• With Mastercard Travel Rewards, you can unlock cashback offers and get a rebate applied directly to your statement, by using your Tangerine World Mastercard at select merchants that accept Mastercard while travelling outside of Canada.
• Save on the things you love with your Tangerine World Mastercard. Enjoy special benefits and offers from a growing lineup of on-demand apps and subscription services made available to you as a Tangerine World Mastercard cardholder.
• Make the most of your travel with Mastercard® Travel Pass Provided by DragonPass. Your complimentary membership gives you exclusive dining, retail and spa offers in over 650 airports worldwide, along with access to over 1,300 airport lounges at $32 USD per visit. Learn more at Mastercard® Travel Pass.
• Rental Car Collision/Loss Damage Insurance**: Damage and theft protection for your car rental when you rent for up to 31 consecutive days and charge the full cost of your rental to your Card.
• Mobile Device Insurance**: Protection on new cell phones, smartphones or tablets when you charge the full cost to your Card, or when you purchase it through a plan and charge all of your wireless bill payments to your Card. Covers up to $1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.
• Preferred rates: 19.95% for purchases and cash advances.
• To be eligible, a $50,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

Why we like it

The BMO CashBack® Mastercard®* offers attractive earn rates on everyday purchases like groceries and utility bills, making it easy to quickly rack up rewards that you can turn into cold hard cash.

Pros

• Attractive introductory offer, especially if you’re interested in a balance transfer.
• No minimum threshold for redeeming your cash-back rewards. Redeem as little as $1 if you want.

Cons

• Accelerated earn rates for groceries and recurring bills are capped at $500 per billing cycle, a ceiling that might be easy to hit if you have a family or higher monthly balances.
• Offers fewer travel perks and types of insurance than some other cards.

• Welcome offer: Get 5% cash back in your first 3 months.*
• Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
• Now earn the highest cash back on groceries in Canada without paying an annual fee!†
• Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.*
• No Annual fee.*
• Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account.*
• Extended Warranty.*
• Purchase Protection.*
• Receive a discount on car rentals.*
• *Terms and conditions apply.
• †Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of January 4, 2023.
• BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

If this card doesn’t seem like a good fit for your wallet, take a look at NerdWallet’s selection of the best newcomer credit cards to help find the right option for you.

Why we like it

You can earn some extremely attractive rates on gas and groceries with the CIBC Dividend Visa Infinite Card — up to a $3,200 cash-back value.

Pros

• Flexible and easy redemption. You can redeem cash back anytime through CIBC Online and Mobile Banking.
• Generous cash back rates on five popular spending categories.

Cons

• You’ll only earn 1% cash back after spending $80,000 across bonus categories. Most credit cards have specific limits for each category, but the CIBC Dividend Visa Infinite collectively caps all bonus rates with an $80,000 limit.
• Insurance offerings are limited compared to what you might expect from a card with a $120 annual fee. However, you can avoid this cost every single year with a CIBC Smart Plus™ Account.

• 4% on groceries, gas, and electric vehicle charging, and 2% on transportation, dining and recurring payments. Accelerated rates apply to the first $80,000 spent per year.
• 1% on everything else, and after spending $80,000.
• 0.25% cash back for every $1 spent on a CIBC Global Money Transfer, with no foreign transaction fees.
• Redeem a minimum of $25 cash back at any time through CIBC Online and Mobile Banking.
• $120 annual fee.
• Visa Infinite benefits, including Visa Infinite Concierge, Visa Infinite Luxury Hotel Collection, Visa Infinite Dining Series, and entertainment and lifestyle offers.
• Save up to 10 cents per litre at Chevron, Ultramar and Pioneer gas stations when you link your card with Journie Rewards.
• Access to CIBC Pace It.
• Five types of insurance provided, including 10-day out-of-province/out-of-country emergency medical benefits — up to $5 million in coverage.
• Preferred rates: 20.99% for purchases, 22.99% for cash advances.
• To be eligible, $60,000 (individual) or $100,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

Why we like it

Get rewarded at the gas station and grocery store with 4% cash back, plus enjoy a high ongoing flat-rate of 2% cash back on everything else.

Pros

• The unlimited 2% cash-back earn rate is among the highest we evaluated.
• You can earn up to $400 in the first ten months.

Cons

• The bonus rewards rate on gas and groceries drops down to 2% after a $30,000 annual spend.

• In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months.
• Earn accelerated earn rates on eligible gas and grocery purchases.
• Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases.
• Access events and special offers curated for Cardmembers with American Express® Experiences.
• Extensive insurance coverage and 24/7 Customer Service.
• American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

Why we like it

Not only does this low-interest card feature accelerated rates on daily spending, but the Desjardins Odyssey Visa Infinite Privilege comes with truly impressive insurance coverage.

Pros

• Comprehensive travel insurance includes emergency medical worth $5 million per person, covering 60 days for ages 59 and under and 15-days for ages 75 and under.
• 18 airport lounge visits included.

Cons

• No intro offer.
• There’s a high annual fee and $150,000 (individual) or $200,000 (household) annual income is required, making this card inaccessible for many.

• 4% in BONUSDOLLARS per dollar spent on restaurants, entertainment and public transportation.
• 3% in BONUSDOLLARS per dollar spent on groceries and travel.
• 1.75% in BONUSDOLLARS per dollar spent on everything else.
• Redeem BONUSDOLLARS for statement credits, financial products and services, charity, rewards, gift cards, purchases, and travel.
• 1 BONUSDOLLAR earned = $1 you can redeem. BONUSDOLLARs do not expire.
• $295 annual fee for Desjardins members, $395 annual fee for non-members.
• Airport lounge access through a complimentary Priority Pass membership, plus 6 free visits per year. 12 visits per year to the Desjardin Odyssey Lounge in the Montreal-Trudeau International Airport.
• Visa Infinite Privilege benefits including Visa Infinite Privilege Concierge, Visa Infinite Luxury Hotel Collection, Visa Infinite Dining Series, and Entertainment & Lifestyle Offers.
• Up to 25% off Hertz car rentals and up to 10% off Thrifty or Dollar rentals.
• Access to Accord D financing up to $5,000 a day cash advances at a rate of 9.9%.
• 12 types of insurance provided, including 60-day travel medical benefits — up to $5,000,000 in coverage per person under age 59. 31-day coverage is available for ages 60-64. 15-day coverage is available for ages 65-75.
• Preferred rates: 11.90% for purchases and 12.90% for cash advances.
• To be eligible, $150,000 (individual) or $200,000 (household) annual income, or assets under management of $400,000 is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.

Why we like it

The $0-annual-fee Simplii Financial Cash Back Visa Card earns bonus cash-back on the purchases you make almost every day.

Pros

• Earn up to 4% cash back on eligible purchases in restaurants, bars and coffee shops.
• Get cash back on fee-free global money transfers.

Cons

• The 0.5% base rate isn’t exactly impressive, but it only applies after you hit the annual spending limits of bonus categories.
• It only includes purchase security and extended protection insurance.

• Sign up for a Simplii Financial Cash Back Visa* Card by October 31, 2024 and get a $100 Skip Digital Gift Card after you spend $100 with your new Simplii Cash Back Visa card by November 30, 2024†.
• Plus, for your first 4 months with a Simplii Financial Cash Back Visa* Card, enjoy 10% cash back on eligible restaurants, food delivery and bar purchases (Up to $500 spend†).
• Earn 4% on eligible restaurant, bar and coffee shop purchases up to $5,000 spend per year†.
• Earn 1.5% on eligible gas, groceries, drugstore purchases and pre-authorized payments, up to $15,000 per year†.
• Earn 0.5% on all other credit card purchases with no limit on how much you can earn†.
• For your first 4 months with a Simplii Financial Cash Back Visa* Card, enjoy 10% cash back on eligible restaurants, food delivery and bar purchases. Up to $500 spend †.
• Redeem cash back as a statement credit in December.†
• No annual fee.
• Cash back when you send money abroad with a Simplii Financial Global Money Transfer. No transaction fees and no interest charges.†
• Purchase security and extended protection insurance provided.†
• Interest rates: 20.99% for purchases‡, 22.99% for cash advances‡.
• To be eligible, a $15,000 (individual/household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident (excluding Quebec) that is the age of majority in the province or territory where you live.
• †Terms and conditions apply. Click ‘Apply Now’ for complete details. This offer is not available for residents of Quebec.
• ‡ “Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time.

Why we like it

The Neo Money™ Card is a no-fee prepaid Mastercard linked to the online bank’s popular high interest savings account. Earn 0.1% interest on your funds in the Neo Money account and enjoy up to 3% cashback on spending (up to a yearly spend cap).

Pros

• Build your savings with competitive interest on funds held in the Neo Money account.
• Free Interac e-Transfers, bill payments and mobile bank-to-bank transfers.
• Earn up to 3% cashback on spending (up to a yearly spend cap).

Cons

• The cashback you receive will vary depending on where you shop.

• Get high interest on your savings and high cashback when you spend with your Neo Money™ card.
• Depending on your account balance, customers can earn cashback up to 3% on gas, 3% on groceries, and 1% on all other purchases (up to a yearly spend cap).
• Instant access to your balance with no card loading required.
• Free everyday transactions and no monthly fees.
• Withdraw from any ATM worldwide.
• 0.1% interest on every dollar.
• Enable the Auto-Save feature to set up automatic savings and register your email to instantly deposit Interac e-Transfer® requests in your Neo Everyday account.
• Take the pain out of bill pay by setting up automated payments from your Neo Everyday account.

Why we like it

Growing companies should look at the Scotia Momentum for Business Visa card for its low annual fee, impressive introductory rate for balance transfers, and strong cash back earn rate on common business purchases.

Pros

• A low introductory interest rate on balance transfers, plus 25-day interest-free grace periods on new purchases.
• Plenty of opportunities to earn cash back.
• Potential credit limits range from $500 to $100,000.

Cons

• No reward bonuses upon card approval.
• Few perks beyond relatively limited insurance options.
• The 3% cash back only applies to the first $50,000 in eligible purchases.

• Intro offer: 2.99% interest rate on balance transfers, Scotia® Credit Card Cheques and cash-like transactions for the first six months (22.99% after that). This rate cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. Offer ends October 31, 2024.
• Earn 3% cash back on recurring bill payments and eligible gas station, restaurant and office supply store purchases — up to a maximum spend of $50,000. 1% cash back after that.
• 1% cash back on all other eligible purchases.
• Cash back rewards can be redeemed as deposits into eligible Scotiabank Canadian Dollar bank accounts or as credits against credit card balances.
• Annual fee: $79 for the primary card and $29 for each supplementary card.
• Credit limit of up to $100,000.
• Insurance offered: out-of province/territory travel emergency medical insurance (up to $1 million each for cardmembers, spouses and dependent children), rental car collision loss/damage insurance (eligible only for rental vehicles valued at less than $65,000), purchase security and extended warranty protection.
• Optional Scotia Business Loan Protection coverage up to $2,000,000.
• Save up to 25% off base rates on car rentals at participating Avis and Budget locations in Canada or the U.S.
• Visa SavingsEdge: receive discounts on business purchases at participating stores.
• Preferred rates: 19.99% on purchases, 22.99% on cash advances, including balance transfers and Scotia Credit Card Cheques.