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Cash rewards credit cards

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MBNA Rewards MasterCard®
MBNA Rewards MasterCard® image
Annual fee $0
Rewards rate 1 Point per $1 spent
Bonus offer 5,000 Bonus points
Card details
Network
MasterCard
Provider
MBNA
Fees and interest
Annual fee
$0
Interest rate
19.99%
Cash advance rate
24.99%
Balance transfer rate
0%
21.99% after 6 months
Card description
  • Get MBNA Rewards for your purchases and redeem them for your passions, including travel, merchandise, or even cash back.
  • Earn 1 MBNA Rewards point‡ for every $1 in eligible purchases
  • Receive 5,000 bonus MBNA Rewards points after your first eligible purchase††. That's equivalent to $50 when redeemed for cash back or travel
  • Redeem points‡ for cash back, travel, brand-name merchandise, gift cards from top retailers and charitable donations
  • 0% annual interest rate(AIR)† on balance transfers* for the first 6 months
  • No annual fee
Features
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Benefits
BMO CashBack MasterCard
BMO CashBack MasterCard image
Annual fee $0
Rewards rate 1% Cash back on all purchases
Bonus offer 4% Cash back (first 4 months)
Card details
Network
MasterCard
Provider
BMO Bank of Montreal
Fees and interest
Annual fee
$0
Interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description
  • Welcome Offer: Get 4% cash back on every purchase (up to $125 cash back) in your first 4 months*
  • Get 1% cash back on all other card purchases with no restrictions*
  • No annual fee*
  • Get up to 25% off rentals at National Car Rental and Alamo Rent A Car*
  • FREE additional cards
  • Extended Warranty*
  • Purchase Protection*
  • 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.
  • *Terms and conditions apply
Features
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
  • Rental Car Discounts
Tangerine Money-Back Credit Card
Tangerine Money-Back Credit Card image
Annual fee $0
Rewards rate 2% Cash back on two categories of your choice
Bonus offer N/A
Card details
Network
MasterCard
Provider
Tangerine
Fees and interest
Annual fee
$0
Interest rate
19.95%
Cash advance rate
19.95%
Balance transfer rate
19.95%
Card description
  • Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 1% Money-Back Rewards on all other purchases
  • Get three 2% Money-Back Categories if you choose to have your Rewards deposited into your Tangerine Savings Account, or two 2% Money-Back Categories if your Rewards are deposited back onto your Credit Card
  • No limit on the amount of Money-Back Rewards you can earn
  • No annual fee
  • 1.5% Foreign Conversion Fee – one of the lowest in market
  • Free Cards for Authorized Users on your Account
  • Money-Back Rewards are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.
  • Change your 2% Money-Back Categories to suit your spending.
  • Orange Alerts are emailed to you so that you’re up-to-date on what's happening in your Account.
  • Purchase Assurance and Extended Warranty
  • Accepted worldwide at more than 24 million locations in over 210 countries
  • MasterCard Zero Liability
Features
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
SimplyCash Card from American Express
SimplyCash Card from American Express image
Annual fee $0
Rewards rate 5% Cash back (first 6 months)
Bonus offer 1.99% Interest rate on balance transfers (first 6 months)
Card details
Network
American Express
Provider
American Express
Fees and interest
Annual fee
$0
Interest rate
19.99%
Cash advance rate
21.99%
Balance transfer rate
1.99%
21.99% after 6 months
Card description
  • Optional Balance Transfer Offer to new Cardmembers - Enjoy a special 1.99% introductory interest rate on transferred balances in the first 6 months if you choose to transfer your other credit card balances to this American Express card at time of online application. There is no balance transfer fee at time of application.
  • New SimplyCash™ Card from American Express Cardmembers can earn 5% cash back on all eligible purchases at gas stations, grocery stores and restaurants in Canada (up to $250 cash back) for the first 6 months of Cardmembership1
  • Earn 1.25% cash back on all other purchases and when your Welcome Rate ends
  • No limit to the amount of cash back you can earn
  • No annual fee for Supplementary Cards
  • Access to memorable experiences with American Express Invites®
  • Insurance coverage and 24/7 Customer Service
  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants
  • 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
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
  • Rental Car Insurance
  • Travel Insurance
Scotia Momentum® VISA Infinite*
Scotia Momentum® VISA Infinite* image
Annual fee $99
Rewards rate 5% Cash back on all purchases (first 3 months)
Bonus offer 1.99% Interest rate on balance transfers (first 6 months)
Card details
Network
VISA
Provider
Scotiabank
Fees and interest
Annual fee
$99
Interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
1.99%
22.99% after 6 months
Card description
  • Earn 5% cashback on purchases for the first 3 months, plus an introductory 1.99% on balance transfers for the first six months. For accounts opened by April 30, 2017.
  • NOTE: The 5% cash back applies to the first $3,000 in purchases only.  Regular cash back applies on purchases made after the 5% threshold / $3,000 in purchase in the first three months.
  • 4% cash back on eligible gas station and grocery store purchases
  • 2% cash back on drug store purchases and recurring bill payments
  • 1% cash back on all other eligible purchases
  • VISA Infinite Complimentary Concierge Service - available 24/7
  • Access to VISA Infinite Luxury Hotel Collection
  • VISA Infinite Dining Series - Unique dining experiences in some of Canada's top restaurants
  • Special access to unique offers and experiences
  • Rental car collision insurance
  • Purchase security and extended warranty protection
Features
  • 24/7 Customer Service
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Benefits
  • Visa Infinite Benefits
BMO CashBack World Elite MasterCard
BMO CashBack World Elite MasterCard image
Annual fee $120
Rewards rate 1.75% Cash back on all purchases
Bonus offer 4% Cash back (first 4 months)
Card details
Network
MasterCard
Provider
BMO Bank of Montreal
Fees and interest
Annual fee
$120
Interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description
  • Welcome Offer: Get 4% cash back on every purchase (up to $250 cash back) in your first 4 months*
  • Earn 1.75% CashBack on ALL purchases* without restrictions*!
  • Minimum 80K individual or 150K household income
  • Get up to 25% off rentals at National Car Rental and Alamo Rent A Car
  • BMO CashBack World Elite Travel and Medical Protection*
  • Complimentary Roadside Assistance Program*
  • FREE additional cards
  • Extended Warranty Plus*
  • Purchase Protection Plus*
  • BMO Concierge Service*
  • 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.
  • *Terms and conditions apply
Features
  • 24/7 Customer Service
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
  • Rental Car Discounts
  • Roadside Assistance Program
  • Travel Benefits
Scotia Momentum® No-Fee VISA*
Scotia Momentum® No-Fee VISA* image
Annual fee $0
Rewards rate 1% Cash back on eligible purchases
Bonus offer 7.99% Interest rate on purchases (first 6 months)
Card details
Network
VISA
Provider
Scotiabank
Fees and interest
Annual fee
$0
Interest rate
7.99%
19.99% after 6 months
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description
  • Special introductory 7.99% interest rate on purchases for the first six months. For accounts opened by October 31, 2017.
  • 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bills
  • 0.5% cash back on all other eligible purchases
  • 20% AVIS rental car discount
Features
  • Rental Car Discounts
Scotia Momentum® VISA*
Scotia Momentum® VISA* image
Annual fee $0 $39 after the first year
Rewards rate 2% Cash back on eligible purchases
Bonus offer 3.99% Interest rate on balance transfers (first 6 months)
Card details
Network
VISA
Provider
Scotiabank
Fees and interest
Annual fee
$0
$39 after the first year
Interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
3.99%
22.99% after 6 months
Card description
  • Get an introductory 3.99% on balance transfers for the first six months. For accounts opened by July 31, 2017.
  • $39 first year annual fee is waived
  • NOTE: A 1% Promotional Rate Fee (minimum fee of $3.50) on the amount of any cash advance, balance transfer and Scotia® Credit Card Cheque will apply during this promotional offer.
  • 2% cash back on eligible gas station, grocery store and drug store purchases and recurring bills
  • 1% cash back on all other eligible purchases
  • Supplementary card holder fee = $15
  • Purchase security and extended warranty protection
  • 20% AVIS rental car discount
Features
  • Extended Warranty
  • Purchase Security
  • Rental Car Discounts
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Cash rewards credit cards

 

When it comes to rewards credit cards, cash back is king. Consumers love cash back credit cards because they're easy to understand, gimmick-free, and who doesn't love getting cash? At LowestRates.ca, you'll find all the tools and information you need to help you compare the top cash back credit cards available in Canada.

About cash back credit cards

 

With so many credit cards now offering competitive perks and points, it's easy to get overwhelmed or to sign up for the wrong card — one that turns out to be different from what you thought or one that's not the right fit. But when it comes to credit card rewards, cash back is the most popular.

Cash back credit cards are simple: as you spend money on your card, you earn cash. With most cash back rewards cards, you can earn anywhere from 0.5% to 5% on your purchases. The rewards rate is the amount of cash back rewards you earn per dollar spent, and it's a key measure of any cash back card.

Comparing cash back credit cards

 

When you compare cash back credit cards, look at the rewards rates they offer relative to their annual fees. Some cards have great rewards rates that let you earn at least 2% cash back, but then charge a big annual fee. You'd have to spend a lot of money on a card like that to make the premium rewards rate worthwhile.

Savvy shoppers should estimate how much money they'll spend with their cash back credit card each year and choose a card accordingly. Big spenders will benefit from premium cash back cards offering high rewards rates. Lower to middle income consumers will find that standard cash back cards make more sense.

You should also think about the kind of items you spend money on each month. Many cash back cards offer higher rewards rates for certain categories of purchases, like gas, groceries, and recurring bills. If you spend a lot of money on one type of item, look for a cash back card that gives you an optimal rewards rate on it.

Check out our table below to see the rewards rates and benefits on some of our most popular cash back cards:

Scotia Momentum No-Fee VISA
Rewards
  • 1% on gas/grocery/drug store purchases and on recurring bills
  • 0.5% on all other eligible purchases
Interest rate
7.99%
19.99% after 6 months
Annual fee
$0
Scotia Momentum VISA
Rewards
  • 2% on gas/grocery/drug store purchases
  • 1% on all other eligible purchases and after annual $25,000 limit
Interest rate
19.99 %
21.99% after first 6 months
Annual fee
$39
Scotia L'earn VISA
Rewards
  • 1% on all eligible purchases
Interest rate
19.99%
Annual fee
$0
Scotia Momentum VISA Infinite
Rewards
  • 4% on gas/grocery purchases
  • 2% on drug store purchases and recurring bills
  • 1% on other purchases and after annual $25,000 limit
Interest rate
19.99%
Annual fee
$99

We put these cards head-to-head in the graph below so you can see which one comes out ahead based on the amount of money you spend annually.

A note on methodology: Because cash back rewards rates vary based on what you're buying, we used a weighted basket to represent the average cardholder's monthly spending:

  • 13% on gas
  • 27% on groceries
  • 13% on drug store purchases
  • 13% on recurring bills
  • 34% on other purchases.

This basket represents up to $60,000 of spending, beyond which all purchases are categorized as 'other'. After all, most families only spend so much money per year on gas, groceries, and recurring bills, no matter how big their budget is. We also included the annual fees on each card and stripped out introductory or promotional offers. Now you can get a better idea of how each card will reward you over the long term.

Cash Back Rewards Comparison

The graph is clear: premium cash back offerings come out ahead if you spend more than $20,000 per year on your card. If you spend less, lower-tier cards with no annual fee are a better option.

Compare cash back rewards cards today

 

The appeal of a cash back rewards card is easy to understand. Who doesn't like earning cash as they spend money on their credit card? With better cash back credit cards available today than ever before, it's easy to find the perfect card — especially if you compare your options right here at LowestRates.ca.

More ways to find a great rate