Best Cash Back Credit Cards in Canada

Cash back cards pay you back in real dollars — a statement credit, deposit, or annual cheque — rather than points or miles you have to redeem through a loyalty program. That simplicity makes them a solid default for anyone who doesn’t want to think about redemption value or transfer partners. Here’s how the cash back cards we’ve reviewed so far compare on overall earning potential.

How we ranked these: we looked only at cards where the reward currency is literal cash back (not points or miles), and ranked them on overall earning potential across a typical household’s full spending mix — not just one category — weighed against each card’s annual fee, using rates published directly by each issuer. Some of these cards also appear on our Best for Everyday Spending page since the two lists naturally overlap; this page is about overall cash back value across all your spending, not just daily categories. We’re continuing to review more cards, so this list will grow.
#1

Tangerine Money-Back Credit Card

Tangerine Bank · Mastercard
Annual Fee
$0
Base / Bonus Rate
0.5% / 2% (your choice)
Credit Score Needed
Good
Best $0-fee flexible option — customize which 3 categories earn 2%, unlimited and uncapped.
Base rate outside chosen categories is only 0.5%.
Read Full Review Visit Issuer Site
Tangerine Money-Back Credit Card
#2

CIBC Dividend Visa Infinite Card

CIBC · Visa
Annual Fee
$120/year (rebated to $0 for year one)
Base / Bonus Rate
1% / up to 4%
Credit Score Needed
Very good
Best fee-based pick for households that spend heavily on gas and groceries — no stated annual earning cap.
$120/year from year two; exact category spending caps aren’t fully confirmed on CIBC’s public pages.
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CIBC Dividend Visa Infinite Card
#3

BMO CashBack Mastercard

BMO · Mastercard
Annual Fee
$0
Base / Bonus Rate
0.5% / 3%
Credit Score Needed
Good
Best $0-fee grocery-focused cash back rate on this list.
Bonus categories cap at $500 in spend per statement period; 0.5% base rate is low for non-grocery spending.
Read Full Review Visit Issuer Site
BMO CashBack Mastercard
#4

Simplii Financial Cash Back Visa Card

Simplii Financial (a division of CIBC) · Visa
Annual Fee
$0
Base / Bonus Rate
0.5% / 4%
Credit Score Needed
Good
Strong no-fee dining rate (4%) plus a broad 1.5% tier covering gas, groceries, drugstores, and bills.
Dining bonus caps out at just $200/year in actual cash back; not available to Quebec residents.
Read Full Review Visit Issuer Site
Simplii Financial Cash Back Visa Card
#5

TD Cash Back Visa Infinite Card

TD Canada Trust · Visa
Annual Fee
$139/year
Base / Bonus Rate
1% / 3%
Credit Score Needed
Very good
Good fit for households that want 3% across five separate everyday categories with a high per-category cap.
$139/year fee; base rate outside the five bonus categories is only 1%.
Read Full Review Visit Issuer Site
TD Cash Back Visa Infinite Card
#6

American Express SimplyCash Preferred Card

Amex Bank of Canada · American Express
Annual Fee
$9.99/month ($119.88/year)
Base / Bonus Rate
2% / 4%
Credit Score Needed
Good
Best uncapped flat rate (2%) on non-bonus spending among fee-based cash back cards — simple if you don’t want to track categories closely.
The 4% rate excludes Costco, superstores, and wholesale clubs; cash back is credited only once a year, in September.
Read Full Review Visit Issuer Site
American Express SimplyCash Preferred Card
CardAnnual FeeBase RateTop Bonus RateCredit Score Needed
Tangerine Money-Back$00.5%2% (your choice)Good
CIBC Dividend Visa Infinite$120/yr (year 1 free)1%4%Very good
BMO CashBack Mastercard$00.5%3%Good
Simplii Cash Back Visa$00.5%4%Good
TD Cash Back Visa Infinite$139/yr1%3%Very good
Amex SimplyCash Preferred$119.88/yr2%4%Good

Frequently Asked Questions

What’s the best cash back credit card in Canada?

Among cards we’ve reviewed, it depends on your spending mix and whether you’re willing to pay an annual fee. Tangerine Money-Back is the strongest $0-fee option because you choose your own bonus categories; CIBC Dividend Visa Infinite pays the highest combined rate if you spend heavily on gas and groceries and don’t mind a $120/year fee starting in year two.

Is a cash back card better than a points or travel rewards card?

Cash back is simpler — there’s no redemption math or transfer partners to think about. Travel/points cards can be worth more per dollar spent if you redeem strategically, but only if you’ll actually use the loyalty program. If you’re not sure you’ll optimize redemptions, cash back is the safer default.

How is cash back paid out?

It varies by card — some pay out monthly or on request, others (like CIBC Costco Mastercard and Amex SimplyCash Preferred) pay out only once a year. Check the payout schedule on the issuer’s page before assuming you can access your cash back any time.

More Best Cards rankings: Or use the Card Finder tool to filter all 20+ reviewed cards by network, fee, and credit score.
Rates, fees, and rewards shown are as last verified by MoneyMint and may have changed — always confirm current terms on the issuer’s official page before applying. Some links on this page may be affiliate links, meaning MoneyMint could earn a commission if you apply through them, at no extra cost to you. This never affects which cards we feature or how we rank them. This is general information, not personalized financial advice — consider your own spending habits and consult a qualified professional for advice specific to your situation.