Credit cards come with all sorts of rewards programs, whether you are earning airline loyalty points, hotel loyalty points, or bank-issued rewards points. Needless to say, there are options to suit everyone when it comes to earning rewards points.
Cash back credit cards are one option that is often chosen by individuals as a result of their simplistic earning and redeeming nature. Even for the most grizzled miles and points enthusiasts, cash back credit cards can find a purpose in their wallets for some niche uses.
With that in mind, let’s take a look at the best cash back credit cards in Canada.
The Value of a Cash Back Credit Card
Cash back credit cards have been around for ages and can be considered the traditional rewards method for consumers who swipe their credit cards. These rewards programs are easy to understand and often preferred by the average person who doesn’t want to deal with the ins and outs of rewards programs. After all, who doesn’t want to earn a few extra dollars back on their purchases for no effort?
Many cards offer a percentage cash back on all purchases, however, the cash back earning rate may vary based on the category of the purchase. Thus there is an argument for holding multiple cash back credit cards.
For example, a credit card may offer 3% cash back on fuel purchases but only 1% cash back on all other purchases. In this case, it might make more sense to use a different cash back credit card that offers 5% cash back on grocery purchases, or else you are leaving 4% cash back on the table by using a card that would only earn 1% on that purchase.
How Will I Receive My Cash Back?
Unfortunately, there is no universal answer to this question. Each cash back credit card or financial institution has a different process for paying out the cash back that has been earned. Some may pay it once a year on a set schedule, while others will allow you to request a payout once you reach a certain threshold, while others still award the cashback automatically on each monthly statement.
For the cards I mention below, I’ll share how you can “cash out” your cash back and if there are any restrictions to be aware of. Ultimately, it is preferred to have greater flexibility as to how you can receive your cash back as opposed to having it only paid out one time per year, for example.
How to Choose the Best Cash Back Rewards Card
There are a few main factors that you want to consider when applying for a new cash back credit card: the annual fee, the cash back earning structure, and the welcome bonus.
Some cash back credit cards come with annual fees, whereas others have no annual fee. Typically, credit cards with annual fees will offer higher cash back reward rates and may offer additional benefits, such as travel insurance or airport lounge access.
That being said, you will need to determine if the cost of the annual fee is less than the value you will generate from holding the card; this is a calculation only you can determine when considering your personal situation.
Each cash back credit card rewards cardholders with different earning rates depending on the purchase they are making. With that in mind, consider what the majority of your purchases would be classified as.
For example, depending on the card you use, you could earn anywhere from 1% to 6% cash back on grocery purchases, which is a massive range, and ultimately, you could be leaving money on the table if you use a credit card that isn’t the best tool for the job.
Finally, consider the welcome bonus on the card. Many credit cards come with increased cash back for a period of time, and this can generate additional value when choosing a new card to sign up for. Not to mention, you should also check to see if you can earn any additional cash back from our FlyerFunds Rebates program before applying!
Let’s take a look at some of the best cash back credit cards in Canada and do a deep dive into everything you need to know about these cards.
Summary of the Best Cash Back Credit Cards in Canada
| Credit Card | ||
|---|---|---|
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350 cash back Estimated value: $350 |
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200 cash back and $100 FlyerFunds Estimated value: $300 Ends Oct 31, 2025 |
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100 cash back and $125 FlyerFunds Estimated value: $225 Ends Aug 31, 2025 |
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200 cash back Estimated value: $200 |
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0 cash back and $100 FlyerFunds Estimated value: $100 |
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0 cash back and $50 FlyerFunds Estimated value: $50 |
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Best Cash Back Credit Cards With Annual Fees in Canada
TD Cash Back Visa Infinite Card
The TD Cash Back Visa Infinite credit card is a classic cash back card, offering elevated cash back on multiple spending categories and the ability to easily redeem your cash back.
The TD Cash Back Visa Infinite* Card earns 3% cash back on all eligible grocery purchases, gas purchases, and regularly recurring bill payments.
$350 cash back
$3,500
$350+
$139 (FYF)
Yes
–
The TD Cash Back Visa Infinite credit card earns 3% cash back on all eligible grocery purchases, gas purchases, and regularly recurring bill payments and 1% cash back on all other purchases made on this card.
One of the best parts of this card is that you can redeem your cash back at any time, provided you have accrued a minimum of $25. The convenience of being able to cash out when desired is a major plus, as opposed to having to wait for a once-a-year cash back disbursement. There is no limit to the number of times you can redeem cash back in a calendar year.
Finally, a small perk of this card is that it offers a complimentary Deluxe TD Auto Club Membership, making it one of the best credit cards for road trips.
CIBC Dividend Visa Infinite Card
The CIBC Dividend Visa Infinite credit card is another more traditional option on this list, offering elevated cash back and a once-a-year redemption system.
The CIBC Dividend Visa Infinite card earns cash back and gives cardholders the opportunity to earn 4% cash back on gas and grocery purchases.
$200 cash back
$2,000
$200+
$120 (FYF)
Yes
–
The CIBC Dividend Visa Infinite credit card earns 4% cash back on eligible gas and grocery purchases, 2% cash back on eligible transportation, dining, and recurring bill payments, and 1% cash back on all other eligible purchases.
As the card has a small annual fee, it is important to ensure that you expect to earn a greater amount of cash back than what the annual fee is, else it may make more sense to consider a credit card with no annual fee.
The only drawback with this card is that the cashback is paid out automatically, once per year, on the December statement. While this may be convenient for those who indulge in Christmas shopping or vacations, it does provide less flexibility than other cards in which you can redeem cash back once you reach a certain dollar threshold.
Neo World Elite Mastercard
The Neo World Elite Mastercard offers some of the highest cash back rates across popular spending categories in Canada. Cardholders will earn a minimum of 5% cash back on groceries, 4% cash back on recurring bills, and 3% cash back on gas purchases.
The Neo World Elite Mastercard offers a base earning rate of 5% cash back on groceries, 4% on recurring bills, and 3% on gas purchases, with the option to increase earning rates by holding money in a Neo Everyday account.
In 2025, we selected this card to receive the award Best Cash Back Credit Card for Grocery Purchases.
Check out our Neo World Elite Mastercard review for more details.
$0 cash back
$0
$100+
$125
Yes
–
Even better, customers can increase their earning rate in all of those categories by holding money in a Neo Everyday account. By holding $10,000 in a Neo Everyday account at all times, Neo World Elite Mastercard users will receive 7% cash back on groceries, 5% cash back on recurring bills, and 4% cash back on gas purchases.
Neo also makes it easy to redeem cash back on this credit card, as there is only a minimum redemption amount of $1.00, and cash back can be redeemed as a statement credit, transferred to the Neo Everyday account, or used toward merchandise.
Scotiabank Momentum Visa Infinite Card
The Scotiabank Momentum Visa Infinite card offers 4% cash back on popular categories, including groceries, recurring bill payments, and subscription purchases.
The Scotiabank Momentum Visa Infinite card earns 4% cash back on grocery purchases, eligible recurring bill payments, and subscription purchases.
Check out our Scotiabank Momentum Visa Infinite card review for more details.
$200 cash back
$2,000
$300+
$120 (FYF)
Yes
Oct 31, 2025
Cardholders will also earn 2% cash back on gas and transit purchases, in addition to 1% cash back on all other purchases.
Cash back that is earned on the Scotiabank Momentum Visa Infinite card is issued automatically once per year in November as a statement credit, meaning there is no action required by the cardholder to receive their cash back.
Best Cash Back Credit Cards With No Annual Fees in Canada
Rogers Red World Elite Mastercard
The Rogers Red World Elite Mastercard is the best cash back credit card with no annual fees for Rogers, Fido, and Shaw customers.
With the Rogers Red World Elite Mastercard® Rogers, Fido and Shaw postpaid customers can earn 2% cash back on all eligible purchases and get a 1.5x redemption bonus on Rogers, Fido and Shaw purchases – a 3% cash back value.
In 2025, we awarded this card as the Best Cash Back Credit Card (No Annual Fee).
$0 cash back
$0
$50+
$0
Yes
–
Rogers, Fido, and Shaw customers will receive 2% cash back on all purchases, making this a universally great card to use for all spending categories. They will also earn 3% cash back on purchases in foreign currencies and 1.5% cash back on all other purchases.
It gets even better since Rogers, Fido, and Shaw can redeem their earned cash back for 1.5x value when applied towards Rogers, Fido, and Shaw purchases. Earned cash back can be redeemed at any time, provided a minimum of $10 is being redeemed.
Tangerine World Mastercard
The Tangerine World Mastercard is a great no annual fee option if you are interested in customizing the categories that you earn bonus cash back on.
The Tangerine World Mastercard offers cardholders the ability to choose up to three accelerated spending categories to increase their cash back earnings.
In 2025, we awarded this card as the Best Customizable Cash Back Credit Card.
Check out our Tangerine World Mastercard review for more details.
$100 cash back
$1,000
$225+
$0
Yes
Aug 31, 2025
The Tangerine World Mastercard earns 2% cash back on three cash back categories of your choice and 0.5% cash back on all other purchases. In order to select three categories, the cardholder will need to have an active Tangerine savings account, else they will only be able to select two elevated cash back categories.
The spending categories that can be selected for the increased 2% cash back category include grocery, furniture, restaurants, hotel/motel, gas, recurring bill payments, drug store, home improvement, entertainment, and public transport/parking.
Cardholders are able to adjust their elevated 2% cash back categories whenever desired, however, it will take one billing cycle for the change to take effect. This means that if you are looking to change your spending habits or have bigger purchases coming up, plan ahead if you are looking to maximize the value of your Tangerine credit card.
Cash back rewards that are earned on the Tangerine World Mastercard are paid monthly. The cash back will be issued either as a statement credit on the credit card account or as a deposit to a Tangerine savings account, depending on what redemption option the cardholder has specified.
Is a Cash Back Rewards Card Better Than a Travel Rewards Card?
When it comes to picking the right credit card for your personal needs, the right card can often be a subjective choice, similar to many other things in the personal finance world. One of the main things you always want to consider is the rewards program that is tied to the credit card.
We love travel credit cards on Frugal Flyer, simply because they are often the ticket to unlocking unique experiences, such as flying on Qatar Airways QSuites or enjoying your own private plunge pool at the Conrad Koh Samui. This is what keeps us going, and why we play the game we do with credit card welcome bonuses and loyalty programs.
However, we recognize that not everyone is as big on traveling and not all individuals have the same personal finance goals, which is why there are so many great credit cards to choose from in Canada, whether they offer travel rewards or cash back rewards.
For those individuals who simply want to earn rewards on their credit card purchases, a strong cash back credit card can be a great ticket to effectively saving money every time you swipe. Additionally, cash back credit cards are a great option for cardholders who don’t want to understand more complex loyalty programs. After all, simpler can sometimes be better!
Conclusion
While travel cards are the heart and soul of Frugal Flyer, cash back cards can absolutely have a place in your wallet and fill a unique need. If you are considering adding one to your credit card lineup, consider all aspects of the card including the annual fee, earning rates, cash out method, and welcome bonus before applying for your next credit card.
Josh Bandura
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