Credit Cards

New Rewards Mastercard launches in Canada with 5% cashback offer

By: Jessica Mach on June 19, 2019

If you regularly shop on, you’re in luck: the online retail giant just launched a Canadian credit card with a very competitive introductory offer.

Holders of the Rewards Mastercard can earn 5% back for eligible purchases at, Whole Foods Market stores in Canada, other grocery stores and restaurants. The offer lasts for each cardholder’s first six months with the card, or up to $3,000 in purchases.

The credit card, which launched Tuesday via Toronto-Dominion Bank’s MBNA division, is available to both Amazon Prime customers and non-members of the subscription service. Amazon Prime members get a higher earn rate after the introductory period: 2.5% back on eligible, Whole Foods and foreign currency purchases, and 1% back on all other eligible purchases.

Meanwhile, cardholders without a Prime subscription earn 1.5% on and Whole Foods purchases after the introductory period, and 1% back on all other eligible purchases. Unlike Prime cardholders, non-Prime customers do not have access to the higher earn rate for anything bought in foreign currency.

When cardholders have accumulated 2,000 points, they receive a $20 gift card that can be applied to any purchase.

There is no cap on how many points cardholders can earn, and points do not expire.

With no annual fee, the Rewards Mastercard is definitely a competitive option on the rewards credit card market — especially if you’re already a regular Amazon customer. Unlike a regular credit card, cardholders don’t have to wait for a physical card before they can start using it, either.

“The simple online application features ‘apply and buy’ technology, so approved customers can make immediate purchases on without waiting for their card to arrive in the mail,” said Katy Boshart, SVP credit cards, TD Bank Group.