Canada's 11 Best Cash back Credit Cards of October 2026
Published Oct 13, 2026 1:33 PM • 9 min read
Cashback is the simplest and most straightforward way of earning rewards, as you get a percentage of your purchase amount back on eligible expenses. Some cards give a fixed amount on all purchases, while others might offer a higher amount in specific purchase categories. Choosing a card that matches your spending habits can help you earn more in the long run.
Data-driven rankings of 120+ credit cards using a proprietary algorithm
Comprehensive analysis using 25+ data points including terms and conditions, points programs, and more
Objective editorial approach - we strive for unbiased reviews following our editorial guidelines
FinlyWealth's credit cards content, including rankings and recommendations, is overseen by a team of engineers and writers who specialize in credit cards, banking, and personal finance. Our work has been featured in The Globe and Mail, GoBankingRates, and AOL. Our proprietary analysis systems evaluate product features, terms, and conditions to deliver comprehensive reviews and comparisons while maintaining strict editorial standards for accuracy and integrity.
Earn 10% cash back on up to $1,500 in purchases for the first 3 months
A $0 annual fee card which earns 1% cash back on eligible purchases, plus you get up to $150 in value in the first 3 months when you spend $1,500 in eligible purchases!
on Scotiabank's website
This is a paid advertisement. FinlyWealth may be compensated when you apply for or are approved for this product, and paid placements like this can affect where and how prominently offers appear. This compensation does not influence our editorial ratings or recommendations.
Best Cash back Credit Cards in Canada
Our choice for: For Recurring Purchases and Subscriptions
on Scotiabank's website
Welcome Bonus
Earn 15% Cash Back on all purchases for the first 3 months, a 0% introductory interest rate on balance transfers, and no annual card fees in the first year
Annual Fee
$120 $0
Interest Rates
20.99% / 22.99%
RECOMMENDED CREDIT SCORE
4.6/5
The 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.
Pros
- High grocery optimization
- High recurring payment optimization
- High insurance coverage
- First-year fee rebate
- Car rental discounts
Cons
- Low base earn rate
- Income requirements
Rewards
- 4% for every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
- 2% for every $1 you spend on gas and daily transit purchases
- New 2% Cash Back earn category: You will earn 2% on all eligible purchases of Food Delivery4
- 1% cash back on all other purchases with no cashback limit
- New Cash Back Anytime feature: Redeem your cash back that you’ve earned whenever you need it, through the Scotia app or Scotia Online ($25.00 minimum redemption)¹
- Rates, fees and other information are effective as of July 2, 2026. Subject to change.
Insurance
Coverage
Mobile Device Insurance
$1,000
Common Carrier Travel Accident Insurance
$500,000
Travel Medical Insurance (64 & under)
15 days
Trip Interruption
$2,000
Trip Cancellation
$1,500
Flight Delay
$500
Lost or Stolen Baggage
$500Baggage Delay
$500.svg)
Car Rental Damage & Theft
48 days
Purchase Protection
90 days
Extended Warranty
1 year
Benefits
Details
Car Rental Discount
25% off base rate of Avis Rent A Car and Budget Rent A Car
Discount11
Yearly GigSky 1GB/15-Day plan, 20% off future purchases, and 10GB of global data for 15 days with Travel Essentials
Visa Infinite Exclusive Benefits
Yes.svg)
Gas Discount12
Get up to 7¢/L in value on fuel purchases at Shell stations
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
Our choice for: Best Flat Rate
on Wealthsimple's website
Wealthsimple Premium client, or $4,000+/mo direct deposit?
Either one waives the $240/yr card fee (Premium = $100k+ in assets)
Welcome Bonus
Get 5% cash back for the first 30 days (1)
Annual Fee
See Rates
Interest Rates
20.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
4/5
The Wealthsimple Cash Back Visa Infinite offers a no-FX-fee spending solution with a conditional no-fee setup that earns 2% cash back on all purchases without any limits! It also lets you grow your rewards—as you can deposit your cashback whenever you want in a high-interest chequing account. Its simplicity and flexibility make it ideal for many Canadians.
Pros
- Decent cashback
- No premium client annual fee
- No foreign transaction fees
- Solid insurance
Cons
- High income requirements
- High annual fee
Rewards
- 2% cash back on all eligible purchases, no limits.
Insurance
Coverage
Mobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 yearTravel Medical Insurance (64 & under)*
14 days up to $1M (under age 65)Trip Cancellation*
$1,000/person ($3,000 per trip)Trip Interruption*
$1,000/person ($3,000 per trip)Baggage Delay*
$500 ($1,000 combined with Lost or Stolen Baggage coverage)*Lost or Stolen Baggage*
$750 ($1,000 combined with Baggage Delay coverage)*
Benefits
Details
No Foreign Transaction Fees
Avoid FX fees when you travel abroadVisa Infinite Exclusive Benefits
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Our choice for: Best Premium
on Wealthsimple's website
Wealthsimple Premium client, or $4,000+/mo direct deposit?
Either one waives the $240/yr card fee (Premium = $100k+ in assets)
Welcome Bonus
Get 5% cash back for the first 30 days (1)
Annual Fee
See Rates
Interest Rates
20.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
4.4/5
The Wealthsimple Cash Back Visa Infinite Privilege offers a no-FX-fee spending solution with a conditional no-fee setup that earns 2% cash back on all purchases without any limits! It's currently the ONLY Visa Infinite Privilege card with an annual fee that can be completely waived. It also lets you grow your rewards—as you can deposit your cashback whenever you want in a high-interest chequing account. Its simplicity and flexibility make it ideal for many Canadians.
Pros
- Decent cashback
- No premium client annual fee
- No foreign transaction fees
- Solid insurance
- Airport lounge access
Cons
- High annual fee
- High income requirements
Rewards
- 2% cash back on all eligible purchases, no limits.
Insurance
Coverage
Mobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 yearTravel Medical Insurance (64 & under)*
14 days up to $2M (under age 65)Trip Cancellation*
$1,500/person ($5,000 per trip)Trip Interruption*
$1,500/person ($5,000 per trip)Baggage Delay*
$1,000 ($1,250 combined with Lost or Stolen Baggage coverage)*Lost or Stolen Baggage*
$1,000 ($1,250 combined with Baggage Delay coverage)Car Rental Damage & Theft*
31 days, $65K car MSRP
Benefits
Details
No Foreign Transaction Fees*
Avoid FX fees when you travel abroadVisa Infinite Exclusive Benefits*
Airport Lounge - Dragon Pass*
6 complimentary visits
Eligibility
Credit Score
GoodAnnual Income
$150,000 personal or $200,000 household
Our choice for: Starter Card With No annual fee
on Tangerine's website
Welcome Bonus
10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months
Annual Fee
$0
Interest Rates
20.95%* / 22.95%*
RECOMMENDED CREDIT SCORE
4.4/5
While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.
Awards & Recognition
Best Starter Credit Card
2026
Pros
- Customizable cashback
- Unique categories available
- High recurring transaction optimization
- High pharmacy purchase optimization
- Bonus category available
- No annual fee
Cons
- Basic insurance
- Low base earn rate
Rewards
- 2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match your spending habits.
- Have your Money-Back Rewards deposited into a Tangerine Savings Account and get a third 2% Money-Back Category.
- 0.5% cashback on all other credit card purchases.
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Up to a year
Eligibility
Credit Score
FairAnnual Income
$12,000 personal
Our choice for: For Restaurant purchases
on Simplii Financial™'s website
Welcome Bonus
20% cashback† up to $500 in spending
Annual Fee
$0
Interest Rates
20.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
4.3/5
If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.
Awards & Recognition
Best Dining Cash Back Credit Card
2026
Pros
- High restaurant optimization
- Decent cashback rates
- No annual fee
Cons
- Basic insurance
- No benefits
- Capped rewards
Rewards
- 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
- 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
- 0.5% cashback on all other purchases†
Insurance
Coverage
Purchase Protection
Up to 90 daysExtended Warranty
Up to 1 year
Eligibility
Credit Score
GoodAnnual Income
$15,000 household
Our choice for: Best gas and groceries
on Neo Financial's website
Finly Special Offer
Welcome Bonus
$0 First-Year Annual Fee and $100 Welcome Bonus
Annual Fee
$149 $0
Interest Rates
19.99% - 26.99%□ / 22.99% - 28.99%
RECOMMENDED CREDIT SCORE
4.6/5
This card offers some of the highest cash back rates in Canada for gas, groceries, and recurring purchases, which is pretty hard to beat. While the cash back rates are very high, you need to mind the spend caps set for each category to see if your earning potential is really that high compared to most other credit cards. However, if you're the average person whose spending is generally below $12k per year in groceries, $6k per year in recurring bills and $12k per year in gas, then you'll be doing pretty well, especially with the great insurance and benefit offers.
Awards & Recognition
Best Cash Back Credit Card
2026
Pros
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
Cons
- High income requirements
- Spending caps
- Annual fee
Rewards
- 5% cash back on grocery purchases up to $1,000 spending per month
- 4% cash back on recurring purchases up to $500 spending per month
- 3% cash back on gas purchases up to $1,000 spending per month
- 1% cash back on all other purchases with no spending caps
- Up to 15% boosted cashback at thousands of partners across Canada - on top of base cashback rates
Insurance
Coverage
Travel Medical Insurance (64 & under)
Up to $1,000,000Trip Cancellation
$1,000Trip Interruption
$1,000Flight Delay
$500Baggage Delay
$1,000
Hotel Burglary Insurance
$1,000
Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent ChildCar Rental Damage & Theft
Yes.svg)
Car Rental Personal Effects
$1,000Purchase Protection
90 daysExtended Warranty
1 yearLost or Stolen Baggage
$1,000
Mastercard Zero Liability Protection
Yes
Benefits
Details
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visitNo Foreign Transaction Fees1
You can get all FX fees rebated up to $10K spending per month with a Neo Grow membership ($12.99/month cost or $0 with $20K across your Neo accounts)
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Our choice for: Best shopping and dining
on Neo Financial's website
Finly Special Offer
Welcome Bonus
$0 First-Year Annual Fee and $100 Welcome Bonus
Annual Fee
$149 $0
Interest Rates
19.99% - 26.99%□ / 22.99% - 28.99%
RECOMMENDED CREDIT SCORE
4.6/5
This card offers some of the highest cash back rates in Canada on dining, takeout, and retail shopping. Cardholders can also boost these earn categories and more when shopping at thousands of Neo Partners. These reward opportunities are accompanied by comprehensive travel insurance and benefits, making it a well-balanced premium contender.
Pros
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
Cons
- High income requirements
- Annual fee
Rewards
Earn 5% every time you dine out or order in, and 3% on retail shopping — the card built for how you actually enjoy spending.
Expect:
- 5% cash back on food & drink up to $1000 spending per month
- 3% cash back on shopping up to $1000 spending per month
- 1% cash back on everything else
- Up to 15% boosted cashback at thousands of partners across Canada - on top of base cashback rates
Eligible Cash Back Categories Explained:
- Food & drink: Fast food, restaurants, bars, cocktail lounges, nightclubs, caterers
- Shopping: Apparel, footwear, electronics, hardware, home & garden, sporting goods, cosmetics, pets, jewellery, and more
- Amazon and wholesale purchases are not eligible for the shopping cashback rate
Insurance
Coverage
Travel Medical Insurance (64 & under)
Up to $1,000,000Trip Cancellation
$1,000Trip Interruption
$1,000Flight Delay
$500Baggage Delay
$1,000Hotel Burglary Insurance
$1,000Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent ChildCar Rental Damage & Theft
YesCar Rental Personal Effects
$1,000Purchase Protection
90 daysExtended Warranty
1 yearLost or Stolen Baggage
$1,000Mastercard Zero Liability Protection
Yes
Benefits
Details
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visitNo Foreign Transaction Fees1
You can get all FX fees rebated up to $10K spending per month with a Neo Grow membership ($12.99/month cost or $0 with $20K across your Neo accounts)World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
Eligibility
Credit Score
FairAnnual Income
$80,000 personal or $150,000 household
Our choice for: No Income Requirements
Welcome Bonus
Up to $250 ($200 in first year)
Annual Fee
$119.88⁕
$9.99 Paid Monthly
⁕ For Quebec, $119/year
Interest Rates
21.99%* / 21.99%*
RECOMMENDED CREDIT SCORE
4.6/5
The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.
Awards & Recognition
Best Gas Credit Card
2026
Pros
- High cashback rates
- Solid base rate
- Comprehensive insurance
- Instant decision. No credit impact.
Cons
- Annual cashback redemptions
- Lower acceptance
- Annual fee
Rewards
- 4% cash back on eligible gas station purchases in Canada
- 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
- 2% cash back on all other eligible purchases
Insurance
Coverage
Travel Medical Insurance (64 & under)
$5M/insured PersonFlight Delay
$500Baggage Delay
$500Hotel Burglary Insurance
$500Lost or Stolen Baggage
$500Common Carrier Travel Accident Insurance
$100,000Car Rental Damage & Theft
$85K up to 48 daysMobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Amex Experiences™
Access events and special offers curated for Cardmembers with Amex Experiences™
Eligibility
Credit Score
GoodAnnual Income
N/A
Our choice for: Rogers, Shaw, Comwave, or Fido Customers
on Rogers Bank's website
Rogers, Fido, Shaw or Comwave customer?
Eligible customers unlock boosted rewards on this card
Welcome Bonus
Welcome Bonus varies
Annual Fee
$0
Interest Rates
21.99% - 25.99%* / 22.99% - 27.99%*
RECOMMENDED CREDIT SCORE
4.5/5
This card is one of the best in Canada, especially if you have 1 qualifying service with Rogers, Fido, Shaw or Comwave. With a qualifying service, you can effectively receive up to 2% cashback rate, which competitive against other no-fee contenders. Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!
Awards & Recognition
Best No Fee Cash Back Credit Card
2026
Pros
- Top no-fee contender
- Member earning boosts
- USD optimization
- Comprehensive coverage
- Airport lounge membership
- Roam Like Home days
Cons
- High income requirements
- Annual spending caps
Rewards
- Earn 2% cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Shaw or Comwave. Otherwise, earn 1.5% cash back on eligible non-U.S. dollar purchases.
- Plus, earn up to 3% cash back on eligible U.S. dollar purchases.
Insurance
Coverage
Travel Medical Insurance (64 & under)
Up to 10 daysTravel Medical Insurance (65 to 75)
Up to 3 daysTrip Cancellation
$1,000/person, $5,000 maximumTrip Interruption
$1,000/person, $5,000 maximumCar Rental Damage & Theft
31 days, $65,000 car MSRPPurchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Airport Lounge - Dragon Pass
Discounted access to over 1300 airport lounges with Mastercard Travel Pass. Pass only, complimentary visits not included.
Roam Like Home Days
Get 5 Roam Like Home days at no cost, every year, with an eligible Rogers mobile plan.
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Our choice for: For Grocery purchases
on BMO's website
Welcome Bonus
Get up to $650 in value*
Annual Fee
$139 $0
Interest Rates
21.99% / 23.99%□
RECOMMENDED CREDIT SCORE
4.1/5
If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.
Awards & Recognition
Best Roadside Assistance Card Credit Card
2026
Pros
- Impressive cashback rates
- Rare roadside assistance
- Comprehensive insurance and benefits
- High first-year value
Cons
- Lacks restaurant optimization
- Low monthly cashback caps
Rewards
- 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)*
- 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)*
- 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)*
- 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)*
- 1% cash back on all other eligible purchases*
Insurance
Coverage
Travel Medical Insurance (64 & under)
$5M up to 8 days per covered person*Common Carrier Travel Accident Insurance
$500,000Flight Delay
$500 After 4 hours delay*Lost or Stolen Baggage
$500/person, $1,000 maximum*Baggage Delay
$500/person, $1,000 maximum After 6 hours*Hotel Burglary Insurance
$1,000Car Rental Damage & Theft
$65K MSRP up to 48 days*Purchase Protection
90 daysExtended Warranty
1 year
Benefits
Details
Airport Lounge - Dragon Pass
Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.*
Roadside Assistance
Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing – a $75/year value.*Car Rental Discount
Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool.*Discount
Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Our choice for: For Gas purchases
on CIBC's website
Welcome Bonus
Earn up to $350 in value†
Annual Fee
$120 $0
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
3.4/5
The CIBC Dividend® Visa Infinite Card* is an excellent choice for those who spend heavily on gas, EV charging, and groceries, offering one of the best cash back rates in those categories. The 10% cash back welcome offer sweetens the deal for new cardholders, though the high income requirements and annual fee may not make it the best fit for everyone. If you can meet the spending and income criteria, it provides solid value, especially with no limits on the total amount of cash back you can earn.
Pros
- First-year fee rebate
- High cashback rates
- Unlimited cashback earnings
- Fuel savings
- Car rental discounts
Cons
- High income requirements
- Annual fee
- Lower insurance coverage
Rewards
- 4% cashback on Gas and Groceries if they are in the first $80K transactions of the year and $20K of categorical spends
- 2% cashback on Transportation, Dining and Recurring payments if they are in the first $80K transactions of the year and $20K of categorical spends
- 1% cashback on all other credit card purchases.
Insurance
Coverage
Travel Medical Insurance (64 & under)
$5 Million per person, per trip. 10 day coverageCar Rental Damage & Theft
$65KCommon Carrier Travel Accident Insurance
$500KMobile Device Insurance
$1000 per person, per occurrencePurchase Protection
90 daysExtended Warranty
Up to a year
Benefits
Details
Gas Discount
save up to 10¢/L on fuel at participating Pioneer, Fas Gas, Ultramar and Chevron gas stationsCar Rental Discount
Get up to 25% off auto rentals at participating Avis and Budget locations worldwide.
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
From our editors: The full list of Best Cash back Credit Cards in Canada For 2025
Best for recurring purchases and subscriptions: Scotia Momentum® Visa Infinite +* Card
The Scotia Momentum Visa Infinite + Card stands out as one of the best credit cards for recurring transactions, making it a top choice for covering monthly bills. It also earns strong rewards on groceries and includes valuable benefits, creating a well-balanced mix of everyday savings and premium perks. While it may not be as easy to qualify for as some no-fee cards, it remains a strong contender for those seeking reliable, high-return categories in a single card. Learn more in our Scotia Momentum Visa Infinite + Card review.
Best flat rate: Wealthsimple Visa Infinite + Card
The Wealthsimple Visa Infinite + Card offers an admirable flat rate of cash back on all eligible purchases, without limits. This flexibility is accompanied by decent travel insurance and notable perks like no foreign transaction fees and Visa Infinite Exclusive Benefits. While the card fee is quite steep, clients with Premium or Generation status and core clients who direct deposit at least $4,000 monthly into their chequing account can waive the cost completely. Keep in mind, however, that the card also comes with high annual income requirements. Read more in our Wealthsimple Visa Infinite + Card Review.
Best premium: Wealthsimple Visa Infinite Privilege Card
Get all of the perks of the Wealthsimple Visa Infinite + Card and more with the Wealthsimple Visa Infinite Privilege Card. For starters, cardholders can expect the same limitless flat-rate of cash back on all purchases. In addition to no foreign transaction fees and Visa Infinite Exclusive Benefits, the Privilege Card includes complimentary airport lounge access. This premium contender also adds more value to its insurance categories, including car rental damage and theft insurance. Like the Infinite +, Premium, Generation, and qualifying Core customers can waive the hefty annual fee, but applicants will need to meet even higher income requirements. Discover more in our Wealthsimple Visa Infinite Privilege Card Review.
Best starter with no annual fee: Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card is one of the best no annual fee cash back cards in Canada thanks to its unmatched versatility. Cardholders can choose two spending categories from a list of 13 to earn elevated cash back. Those with a Tangerine Savings Account can unlock a third bonus category, making the program even more customizable. With no annual fee and the ability to tailor rewards to your spending habits, this card stands out as a top choice for flexible, everyday cash back. Learn more in our Tangerine Money-Back Credit Card review.
Best for no-fee restaurant purchases: Simplii Financial™ Cash Back Visa* Card
The Simplii Financial Cash Back Visa Card is one of the top no-fee credit cards in Canada for dining and food-related purchases, offering strong cash back on restaurants, groceries, and gas. It’s especially rewarding for everyday spending, helping cardholders save more on meals and essentials. While the elevated rates apply up to an annual spending limit, the card still delivers excellent value for those who spend moderately within these categories. Learn more in our Simplii Financial Cash Back Visa Card review.
Best for gas and groceries: Neo World Elite Mastercard – Gas & Grocery
The Neo World Elite Mastercard – Gas & Grocery is a premium cash back card designed for high-income earners. It offers strong base cash back on groceries, gas, and recurring bills, with the ability to earn extra cash back by shopping at Neo Partner retailers. With broad Mastercard acceptance, high earning potential, and solid benefits, it stands out as the best overall cash back card for most Canadians and one of the best credit cards in Canada for those who meet the eligibility requirements. Learn more in our Neo World Elite Mastercard – Gas & Grocery review.
Best for shopping and dining: Neo World Elite Mastercard – Shop & Dine
While it's already notable that the Neo World Elite Mastercard – Shop & Dine provides some of the best dining optimization, it's even more impressive that this competitor also earns cash back on shopping, which is rare among Canadian credit cards. Cardholders can boost these categories and others even further when they purchase from Neo Partners. This lucrative and unique rewards program is accompanied by comprehensive coverage and a Dragon Pass membership. Discover more in our Neo World Elite Mastercard – Shop & Dine Review.
Best for no income requirements: SimplyCash™ Preferred Card from American Express
The SimplyCash Preferred Card from American Express is the best cash back card with no income requirement, offering top-tier rewards without the usual eligibility hurdles. It earns high cash back on gas and groceries, plus a strong base rate on all other purchases. With a generous welcome bonus, valuable perks, and solid insurance coverage, it delivers premium value in both the first year and long term, all without requiring a minimum income. Learn more in our SimplyCash Preferred Card from American Express review.
Best for Rogers, Shaw, Comwave, or Fido customers: Rogers Red World Elite® Mastercard
The Rogers World Elite Mastercard is a top no-fee cash back card that delivers strong rewards on everyday purchases and includes premium perks rarely seen on cards without an annual fee. Cardholders can unlock the highest cash back rate when they have an eligible Rogers, Fido, Comwave, or Shaw account, making it especially rewarding for existing customers. While it offers impressive value and affordability, it has stricter eligibility criteria, making it best suited for qualified applicants within the Rogers ecosystem. Applicants should also note that this card comes with annual spending caps for optimal rewards. Learn more in our Rogers Red World Elite Mastercard review.
Best for grocery purchases: BMO CashBack® World Elite® Mastercard®
The BMO Cashback World Elite Mastercard offers one of the highest cash back rates on grocery purchases, making it one of the best grocery cards in Canada. As a Mastercard, it treats many Walmart store purchases as groceries—unlike Visa and Amex, which always categorize Walmart as a department store—giving cardholders an extra edge. Learn more in our BMO CashBack World Elite Mastercard review.
Best for gas purchases: CIBC Dividend® Visa Infinite* Card
The CIBC Dividend Visa Infinite Card is one of the best cash back options for gas purchases, offering high rewards at the pump along with the added benefit of being linkable to your Journie Rewards account. This partnership allows you to earn extra points and enjoy fuel discounts at participating stations like Pioneer, Fas Gas, Ultramar, and Chevron, boosting your overall savings. In addition to its gas perks, the card also delivers strong cash back on groceries, making it a valuable choice for maximizing rewards on essential everyday spending. Learn more in our CIBC Dividend Visa Infinite Card review.
How we picked these cards
Multiple factors were considered in choosing the best cash back credit cards. The first factor was how much cash back is earned, and whether the more important categories such as dining and groceries offered a high rate, along with a strong base rate for other categories. Then, the annual fee was taken into account, as well as whether the cards came with extra perks, insurance coverage, and ease of cash back redemption.
What are the different cash back reward structures?
Cash back credit cards come in a variety of reward structures designed to suit different spending habits. The two primary types are flat-rate and category-based rewards. With flat-rate cash back cards, you earn a consistent percentage—such as 1.5% or 2%—on all purchases, regardless of the category. This simplicity makes it ideal for people who prefer straightforward rewards without tracking spending categories. Flat-rate rewards are usually applied as a statement credit or can be deposited directly into your bank account.
Read More: Best Flat Rate Credit Cards in Canada
On the other hand, category-based cash back cards offer higher rewards in specific spending categories like groceries, gas, or dining. For example, some cards provide 3% or 5% cash back in these categories, while offering a lower rate, like 1%, on all other purchases. These cards are great for maximizing rewards in areas where you spend the most, but require more attention to category limits or rotating offers.
Read More: Best Grocery Credit Cards in Canada, Best Gas Credit Cards in Canada, Best Dining Credit Cards in Canada
Additionally, some cards feature customizable or flexible bonus cash back, allowing you to select which categories you want to earn higher rewards in, helping you tailor the card to your spending patterns. For instance, you might choose higher cash back on groceries or travel, depending on your needs at the time. Lastly, certain cards have rotating categories, where the bonus cash back categories change quarterly, giving you opportunities to earn more in different areas throughout the year.
Each cash back structure offers different levels of flexibility, making it important to choose based on your spending habits and how much attention you want to devote to tracking rewards.
Should you go for a points card or a cash back credit card?
Whether you should apply for a points credit card or a cash back credit card depends entirely on your spending habits.
Generally, points credit cards are often more beneficial for frequent travellers who want to take advantage of travel rewards that can be redeemed at high values towards trip expenses like flights, accommodations, and experiences. These cards also tend to have better travel insurance and added perks like airport lounge access and hotel upgrades, depending on the card.
Alternatively, cash back credit cards are better suited to the everyday shopper, offering competitive rates on popular spend categories like gas, groceries, and dining. Of course there are plenty of points credit cards designed for day-to-day errands as well, but these cards are bit more limiting when it comes to how you can ultimately redeem your rewards. Overall, the cash back rewards system is much more flexible and straightforward. Once you cash in your cash back as a statement credit or deposit, you can use it towards any type of purchase, unlike points cards that limit you to specific redemption categories with varying reward values.
Bottom line: Travellers often get more out of travel points credit cards that earn them rewards redeemable towards their next trip. These cards also tack on better travel protections and benefits. On the other hand, everyday shoppers will appreciate the simplicity and flexibility of a cash back credit card.
Read More: Cashback vs. Travel Rewards Credit Cards, Best Rewards Credit Cards
Frequently Asked Questions
A cash back credit card is a type of credit card that rewards users by giving back a percentage of their purchases as cash. The cash back amount typically varies based on the card and the category of the purchase, such as groceries, dining, or gas. Some cards offer a flat rate on all purchases, while others have higher cash back rates for specific spending categories. The earned cash back can usually be redeemed as a statement credit, direct deposit, or sometimes even gift cards or merchandise.
Read More: What is Cashback?
When it comes to cash back cards, there are a couple of key pros and cons to consider:
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In most cases, as long as you keep your credit card account open, active, and in good standing, your cash back rewards won't expire. That said, you should always check your credit card agreement for exceptions.
The cash back you earn on your credit card is typically credited digitally, so you won't receive physical cash in hand.
The most common ways to receive cash back are through statement credits, when cash back is applied directly to your credit card balance, or bank deposits, when cash back is deposited into a linked bank account. Sometimes, cash back can be redeemed as gift cards or merchandise. Redemption options will vary by card.
Cash back credit cards earn you a percentage of money back on eligible purchases. Cash back rates can range anywhere from 1-4% with the potential to be boosted even higher during promotional periods.
Eligible purchases are outlined by your card's specific reward categories. For example, your card might earn you cash back on gas, groceries, and dining. This means that each time you fuel up, stock the fridge or go out to eat, you'll earn some money back on your bill.
Let's say your card optimizes dining and you spend $100 at a restaurant. If your card's cash back rate on restaurant purchases is 4%, then you'll pocket $4 dollars on the cheque.
The redemption process for cash back varies by card. In some cases, you can request your earned cash back through your credit card account's rewards portal. This portal is usually accessible through online banking or your card's mobile app. Other times, you'll need to wait until you collect enough cash back (for example $25) for your rewards to be auto-deposited into your account. There are also cards that only pay out your cash back once per year. You can often select whether your cash back is deposited as a statement credit, into a bank account, or even into an investment or savings account (depending on the issuer). Always check your credit card's terms and conditions for full details.
About the author
Kevin Shahnazari
Co-founder
Kevin started FinlyWealth and juggles a bit of everything—digging into data, running our marketing, and keeping the finances on track. Before this, he spent years as a data scientist at tech companies...
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Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
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Faith Ogunkanmi
Editor
Faith is a seasoned finance professional with over six years of experience specializing in credit analysis, financial risk assessment, and business/personal lending. My background includes extensive w...
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