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Best Cash back Credit Cards in Canada

Best Cash back Credit Cards in Canada

Cash Back Credit Cards

Cash back credit cards allow you to earn back some of the money you spend. You could receive the rebate amount by way of credit each month in the credit card statement. Or, the company might send you a cheque in the mail after a fixed period. However, since you earn this rebate on the purchases you make, you’ll need to take care not to spend too much. If you go over the limit, you could end up paying a high amount of interest that could even out the cash benefit you receive.

Advantages of The Best Cashback Credit Cards

One of the best advantages of the newest credit cards that banks are offering is that they are easy to use with transparent terms and conditions that most points programs don’t have. And, that makes them the best avenue for earning rewards regardless of whether you’re making large or small purchases. You can comfortably use them as primary or back-up credit cards and receive the cash back as a debit in your bank account or added to the statement of your bank credit. At the time of signing up for Cashback credit cards, take care to check the specific categories in which you can avail of the cashback facility. By matching them to your usual spending habits, you can get the best benefits possible.

Top 5 Picks of The Best Cash Back Credit Cards

These are the 5 best cash back credit cards in Canada offered now:
19 Results Updated: October 17, 2019

19.99%

Interest Rate

 

$

Annual Fee

 

-

Balance Transfer

 

$80,000

Minimum Income

More Details

  • Annual Fee: No annual fee
  • Interest: purchases - 19.99%
  • Interest: cash advances - 22.99%
  • Additional Cards: Free

Card details

Network: Mastercard
Provider: Rogers
Card type: Cashback, No Annual Fee

19.99%

Interest Rate

 

Free

Annual Fee

 

-

Balance Transfer

 

Minimum Income

More Details

  • Annual Fee: No annual fee
  • Interest: purchases - 19.99%
  • Interest: cash advances - 22.99%
  • Additional Cards: Free

Card details

Network: Mastercard
Provider: Rogers
Card type: Cashback, No Annual Fee

Special Offers

Get $25 in cash back rewards when you make your first card purchase within 3 months of receiving your card

5.00%

Interest Rate

 

$20.00

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 720

More Details

Features

  • Possibility of adding control parameters, like purchasing limits and the ability to block certain types of retailers, for each card holder
  • Online management reports to help you analyze and track expenses
  • An online account management service to allow you to manage your Visa Desjardins Purchasing account on your own
  • Links to major accounting and Enterprise Resource Planning (ERP) solutions.
  • ZERO liability in the event of unauthorized use of your card
  • Liability insurance up to $100,000 per card in the event of card misuse
  • Better security through chip technology
  • PayWave contactless payment technology
  • Optional Business Cheques Service
  • Visa Consumer Authentication Service for your online purchases
  • Visa Account Updater for your recurring transactions

Advantages

  • Better control over business expenses and respect for company purchasing policies
  • Simpler, more accurate purchase accounting for your company
  • Consolidation of information about business purchases
  • Simplification of the process for requests or purchase orders
  • Considerable time and cost savings in your company's procurement process
  • Single payment for all your company purchases: substantial decrease in the number of cheques issued
  • Increased bargaining power with suppliers
  • Decrease in delayed orders

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Business, Cashback

5.00%

Interest Rate

 

$20.00

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 720

More Details


Features

  • Online management reports to help you track and analyze your expenses
  • An online account management service to manage your Visa Desjardins Corporate account on your own
  • Corporate Insurance Program at no extra cost including complete travel insurance coverage. Find out more about insurance
  • ZERO liability in the event of unauthorized use of your card
  • Liability insurance up to $100,000 in the event of fraudulent card use
  • Better security through chip technology
  • PayWave contactless payment technology
  • Optional Business Cheques Service
  • Visa Consumer Authentication Service for your online purchases
  • Visa Account Updater for your recurring transactions
  • Desjardins Travel Assistance - For worry-free travel
  • Desjardins Business Assistance - Find out about your business destinations

Advantages

  • Better control over business expenses
  • Integration of data to main accounting and resource planning systems
  • Lower costs associated with employee travel
  • Consolidation of information about business expenses
  • Increased bargaining power with suppliers
  • Simpler and more accurate business expense accounting

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Business, Cashback, Travel Rewards

19.40%

Interest Rate

 

$

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 720

More Details

Features

  • Complete insurance coverage while travelling for business purposes.
  • Zero Liability in the event of unauthorized use of your card.
  • Liability insurance up to $100,000 in the event the card is used after an employee is terminated
  • New payWave contactless payment technology.
  • Use the Desjardins My US Card service to manage your card online.
  • Visa Account Updater for your recurring transactions.
  • Desjardins Travel Assistance - For worry-free travel
  • Desjardins Business Assistance - Find out about your business destinations.

Advantages

The Visa Desjardins US Business card is an effective management tool that allows you to:

  • pay bills from American suppliers in U.S. currency
  • settle entertainment expenses incurred by your employees while in the United States
  • avoid paying currency conversion fees by paying for purchases in U.S. dollars

The Visa Desjardins US Business card is essential for owners of small businesses, self-employed workers and professionals who travel to the United States for business.

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Business, Cashback

8.50%

Interest Rate

 

$

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 720

More Details

Optional services

  • Travel Insurance Program: Offers complete insurance coverage for your business travel
  • Business Cheques Service: Pay suppliers, settle unexpected expenses or make the most of unforeseen business opportunities
  • Credit balance insurance - Business: Covers credit amounts or financing payments in case of unexpected events
  • Business expenses management program: Offers a wide range of expense management reports to better manage the type and origin of your expenses
  • Business Account Management Service - SME clientele: For a low monthly fee, you can manage your business account on AccèsD Affaires
  • Visa SavingsEdge® - External link. This link will open in a new window. : Turn business purchases[ 5 ] note into business savings automatically.

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Business, Cashback

9.90%

Interest Rate

 

$

Annual Fee

 

-

Balance Transfer

 

$200,000

Minimum Income

Min Credit Score: 640

More Details

Other features

  • Visa payWave contactless technology
  • Verified by Visa
  • Mobile payment solutions
  • Balance transfers

Options

  • Automatic payment of your card balance at no charge with our Authorized Payment Service
  • Online monthly account statements at no charge.

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Cashback, Low Interest, Travel Rewards

19.90%

Interest Rate

 

$110.00

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 640

More Details

More benefits

  • Purchase Protection and Extended Warranty
  • Manage your account
  • Accord D financing
  • Mobile payment
  • Cash advances
  • Visa Checkout
  • Zero Liability in the event of fraud
  • Balance transfers

Options

  • Overdraft transfer to cover a cheque, bill payment, or any other transaction that exceeds the balance in your Personal Chequing Account (PCA) or any other eligible account
  • Credit Balance Insurance for a minimal fee
  • Automatic payment of your card balance at no charge with our Authorized Payment Service
  • Online monthly account statements at no charge

Even more

  • Better security through chip technology
  • 21-day grace period to pay your bill without incurring credit charges
  • No transaction fees
  • Visa payWave contactless technology
  • Verified by Visa

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Cashback, Travel Rewards

19.90%

Interest Rate

 

$50.00

Annual Fee

 

-

Balance Transfer

 

$60,000

Minimum Income

Min Credit Score: 640

More Details

Additional card features


Accord D financing
Quick and flexible financing for projects that are important to you.


Mobile payments
Tap and pay with your smartphone. It’s easy, free and secure.


Zero Liability in the event of fraud
Against fraudulent transactions made to your card.


Additional card at a low cost
You can get an additional card for your spouse or family member for only $10 a year.


Manage your account
On your computer, smartphone or tablet.


Cash advances
Up to $5,000 a day, anywhere in the world.


Hertz discount
Up to 15% at participating Hertz locations worldwide.


Balance transfers
Transfer the outstanding balances of your credit cards from other financial institutions to your Desjardins credit card account.


Masterpass
Paying for your online purchases is easy with MasterpassTM.


Other features

  • 21-day grace period to pay your bill without incurring credit charges
  • No transaction fees
  • Contactless payment technology
  • Mastercard Identity Check® note

Options

  • Overdraft transfer to cover a cheque, bill payment, or any other transaction that exceeds the balance in your Personal Chequing Account (PCA) or any other eligible account
  • Credit Balance Insurance for a minimal fee
  • Automatic payment of your card balance at no charge with our Authorized Payment Service
  • Online monthly account statements at no charge

Card details

Network: Mastercard
Provider: Desjardins Credit Cards
Card type: Cashback

10.90%

Interest Rate

 

$50.00

Annual Fee

 

-

Balance Transfer

 

Minimum Income

Min Credit Score: 640

More Details

Additional card features

  • Accord D financing
  • Zero Liability in the event of fraud
  • Additional card for a family member for only $10
  • Mobile payments so you can tap and pay with your smartphone
  • Make paying online a breeze with Visa Checkout
  • Cash advances up to $5,000 a day
  • Simple account management
  • Purchase Protection and Extended Warranty
  • Transfer your balances to your Desjardins credit card

Options

  • Overdraft transfer to cover a cheque, bill payment, or any other transaction that exceeds the balance in your Personal Chequing Account (PCA) or any other eligible account
  • Online monthly account statements at no charge
  • Automatic payment of your card balance at no charge with our Authorized Payment Service
  • Credit Balance Insurance for a minimal fee

Other card features

  • Better security through chip technology
  • 21-day grace period to pay your bill without incurring credit charges
  • No transaction fees
  • Visa payWave contactless technology
  • Enhanced online shopping protection

Card details

Network: Visa
Provider: Desjardins Credit Cards
Card type: Cashback, Low Interest, Travel Rewards
  • No annual fee.
  • You’ll receive the cash back at the end of the month in place of the year-end redemption as with other cards.
  • You can choose 2 additional bonus categories to earn 2% cash back. Further, if the cash goes back into the Tangerine account, you get 3 categories.
  • Purchases in all other categories earn you 0.5% cash back.
  • There are no other terms and conditions.
American Express offers users the cashback facility by way of their SimplyCash Preferred Card. Here are some of the features you might like to know about:
  • $99 annual fee that is offset by the 2% cash back you’ll receive on all purchases.
  • Simply by spending the small amount of $165 each month in the promotional time interval, you can cover the $99 annual fee. Once this interval is over, you only need to make purchases worth $412.5 each month to earn back the fee.
  • Receive additional facilities and insurance such as baggage and flight delay, travel accident, province or country emergency medical expenses, and car rental.
  • Any items you purchase using the card automatically entitle you to a doubled manufacturer’s warranty period that lasts for a maximum of one year. You’ll also get insurance against theft and damage to the item.
$99 Annual waived for the first year† Great reasons to get this card for your everyday purchases:
  • Earn 4% cash back on gas and grocery purchases
  • Earn 2% cash back on drug store purchases and recurring bill payments
  • Plus earn 1% unlimited cash back on all other eligible purchases

Best Cashback Offer in Canada

  • Min Credit score required: good
  • Min personal income required: $60000
  • Annual fees: $120 (First year free)
Earn 15,000 bonus points worth $150 in travel with Scotiabank®* Gold American Express® Card. Earn travel rewards up to 4x faster Earn 4x Scotia Rewards points for every $1 you spend at eligible gas stations, grocery stores, on dining and entertainment.

How to Take Advantage of the Credit Card Cash Back Program

With some smart thinking, you can make the most of the cashback programs and get the best benefits.
  • Stacking is where you buy a bunch of cash back cards and use the specific one that earns you the most cash back on a particular purchase. Spread your expenses across different cards and earn back the maximum possible without paying any fee. Here’s how to use the no-fee cash back cards.
    • President’s Choice Mastercard World Elite, you earn 3 cents at Esso, and 3% each when shopping at Shoppers Drug Mart and Loblaws.
    • Rogers Mastercard, you earn 1.75% on all purchases with an additional 4% on foreign transactions.
    • Tangerine card, you’ll get back 2% cash back on public transport, diners and restaurants, and other regular expenses.
  • Yet another strategy is making the most purchases on a card during its promotional period. For instance, the PC Mastercard World Elite may offer you a 3% cashback rate. But, it makes sense to use the Amex SimplyCash card for 6 months and avail of its 5% cashback rate.

Why You Should Use Cashback Cards

If you’ve been looking for more than just points and miles as rewards, it just might be time to think about using cashback cards. Even if you’ve been using debit cards, you most likely pay a charge for using it. On the flipside, using the cashback cards rewards you with a percentage of every purchase making them a far more viable option. You can also make use of the other benefits banks are offering you such as zero-fee cards, various promotional period offers, and waivers on the fees for the first year. And, that makes cashback cards the best option for users today!

What is a Cashback Credit Card?

If you want to use a credit card which is among the most popular cards across Canada, you will also have to pay a decent amount of interest rate per month. This might discourage you from using these cards but there is good news for you. The cashback offers made by many of these credit card providers sometimes outperform the lowest interest rates available in the market. This is simply a strategy to serve you in a way that you will convince yourself to abide by their terms. You will benefit from this option though. Cash Back Credit Cards offer varying percentages for different types of purchase options. Some of these will require you to spend a minimum amount of money to avail this offer. This minimum amount is calculated on monthly basis and there are strict rules for maintaining the limit. Some purchase options are given more priority over the others such as gas or travelling purchases. Cash back offers are not necessarily cash or money back. The “earn while you spend” offer is also sometimes converted to “earn points while you spend” offer. Associates of a financial organization will sell their products at a cheaper price if you can earn those points. Sometimes, the values put by these points are greater than usual. They have calculated automatically once you make a purchase and they don’t expire. You will simply make the purchase and the discount will be applied only if you have the points and you are eligible for the service. If you are tired of paying debts, you now know a way to resolve the issue with the higher rates. The cash back offer attracts too many people. It’s very useful for the people who like to go shopping with the family members every now and then. Just make sure it doesn’t limit the value of the credit card that you own right now or the one you are planning to get. Banks or other financial institutions offer unlimited cash backs so that when you shop around with your dear ones or all of your family members, you will get great cash backs or discounts. Just make sure that it doesn’t limit the value of the credit card that you own right now or the one you are planning to get. Banks or other financial institutions offer unlimited cash backs so that when you shop around with your dear ones or all of your family members, you will get great cash backs or discounts. Sometimes, you will get insurance opportunities along with the cash backs. Insurance is a great way of securing your financial accounts. If you want to get benefits while you spend money locally and internationally, cash back might add some extra fun to your credit card experience.

Assessing Various Cash Back Offers

Before you choose a cash back credit card, you might want to check out the various options out there. Here are the factors to keep in mind:
  • Cashback offered: Match the amount you’ll receive for the purchases you’re likely to make each month. Also, buy the credit card only if you think you’ll benefit from it.
  • Paying Off Credit Card Balance: In an attempt to earn enough cash back, you may end up making more purchases than you can afford. If you think you cannot pay back the balance on the credit card before the due date and you incur interest, the benefit of the cash back scheme may be evened out.
  • Eligibility of Transactions: Credit card issuers may have conditions about the kind of transactions that can earn you rewards. For instance, you can’t earn cash back on transactions such as gambling debts, cash advances including ATM withdrawals, credit card fees, and payments for certain bills.
  • The value of Rewards: Certain rewards on particular items, travel upgrades, and flight costs may have retail or regular prices that are more beneficial as compared to the cash back incentive. Compare the rewards against the cash backs when making your decision.
  • Terms and Conditions Available: Typically, credit card companies offer cash back schemes by way of special promotions. Check the terms and conditions carefully before choosing the best offer. For instance, ask about the expiration date for the offer, partnering retailers, and the amount you need to spend to avail of the benefits of the cashback scheme.