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What Are the Top Cashback Cards in Canada?

Oliver KahnVerified
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Summary：Discover the best cashback credit cards in Canada and enjoy rewards on your everyday purchases. Choose from top picks like Scotia Momentum Visa Infinite Card and Tangerine Money-Back Credit Card.

Top Cashback Cards in Canada: Your Ultimate Guide

As cashback cards continue to gain popularity among Canadian consumers, it can be overwhelming to choose the right one. With so many options to consider, such as fees,rewards, and interest rates, it's essential to do your research before committing to a credit card. In this article, we'll explore the top cashback cards in Canada and what makes them stand out.

1. Scotia Momentum Visa Infinite Card

The Scotia Momentum Visa Infinite Card is a popular choice for those who want to earn cashback oneveryday purchases. With an annual fee of $120, this card offers 4% cashback on groceries and recurring bills, 2% cashback on gas and transit, and 1% cashback on all other purchases. Cardholders can also enjoy travel benefits such as travel insurance and concierge services.

2. Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card is a no-fee card that allows you to customize your cashback categories. You can choose up to three categories to earn 2% cashback, and all other purchases earn you 0.5% cashback. This card also offers a welcome bonus of 2% cashback on your chosen categories for the first three months.

3. BMO CashBack Mastercard

The BMO CashBack Mastercard is another no-fee card that offers 3% cashback on groceries, 1% cashback on recurring bills, and 0.5% cashback on all other purchases. Cardholders can also enjoy additional benefits such as extended warranty and purchase protection.

4. SimplyCash Preferred Card from American Express

The SimplyCash Preferred Card from American Express is a premium cashback card that offers 2% cashback on all purchases. However, it comes with an annual fee of $99. Cardholders can also enjoy benefits such as travel insurance, purchase protection, and access to Amex Invites.

5. Rogers World Elite Mastercard

The Rogers World Elite Mastercard is a unique cashback card that offers 1.5% cashback on all purchases, with no annual fee. However, you can earn up to 3% cashback on purchases made in foreign currency and up to 2% cashback on Rogers products and services. Cardholders can also enjoy travel benefits such as travel insurance and concierge services.

Tips for Applying for a Cashback Credit Card

When applying for a cashback credit card, keep these tips in mind:

1. Choose a card that fits your spending habits and rewards you for purchases you make regularly.

2. Consider the annual fee and make sure the rewards you earn outweigh the cost of the fee.

3. Pay your balance in full each month to avoid interest charges and maximize your rewards.

4. Be aware of any limitations or exclusions on your cashback rewards, such as maximum limits or restrictions on certain categories.

5. Monitor your credit score to ensure you're eligible for the card and maintain good credit health.

Final Thoughts

Cashback credit cards can be a great way to earn rewards on your everyday purchases. By choosing the right card and using it responsibly, you can save money and maximize your rewards. Remember to do your research, compare your options, and consider your spending habits before applying for a cashback credit card.

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