Cash back credit cards are the simplest reward structure in Canada — no points to track, no transfer partners, no strategy required. You earn a percentage of your spending back as cash, applied to your statement or deposited to your account.
The right cash back card depends on where you spend most. A 5% grocery card is better than a 1.5% flat-rate card for a household spending $800/month at the supermarket — but the flat-rate card wins for varied spending across many categories.
Best Cash Back Cards at a Glance
| Card | Annual Fee | Best Cash Back Rate | Best Spending Category |
|---|---|---|---|
| BMO CashBack World Elite Mastercard | $120 | 5% | Groceries (first $500/mo) |
| Scotiabank Momentum Visa Infinite | $120 | 4% | Groceries and gas |
| CIBC Dividend Visa Infinite | $120 | 4% | Groceries, gas, dining |
| Simplii Financial Cash Back Visa | $0 | 4% | Dining (capped) |
| Rogers Red World Elite Mastercard | $0 (for Rogers customers) | 3% | Foreign currency purchases; 1.5% all |
| Tangerine Money-Back | $0 | 2% | Up to 3 chosen categories |
| CIBC Dividend Visa | $0 | 2% | Groceries |
| MBNA Smart Cash World Elite | $120 | 5% (first 6 months) | Gas and groceries |
| CIBC Costco Mastercard | $0 | 3% | Restaurants |
| Scotiabank Momentum Visa | $39 | 3% | Gas and grocery |
Cash back rates and caps subject to change. Verify with each issuer before applying.
1. BMO CashBack World Elite Mastercard — Best for Groceries
Annual fee: $120 | Income requirement: $80,000 personal or $150,000 household
Cash back rates:
- 5% on groceries (first $500/month; 1% after)
- 4% on transit (up to $300/month)
- 3% on gas and EV charging (up to $300/month)
- 2% on recurring bills and drugstores (up to $500/month)
- 1% on everything else
At $800/month in groceries (5% on first $500 = $25, then 1% on next $300 = $3): $28/month → $336/year. Less $120 annual fee = $216 net annual value from groceries alone, plus cash back on transit, gas, and bills.
Limitation: The 5% grocery rate applies only to the first $500/month — heavier grocery spenders see their effective rate drop significantly above that threshold.
Cash back payout: Monthly once you reach $25.
Read the full BMO CashBack World Elite Mastercard review.
2. Scotiabank Momentum Visa Infinite — Best for Gas + Grocery Combined
Annual fee: $120 | Income requirement: $60,000 personal or $100,000 household
Cash back rates:
- 4% on groceries
- 4% on gas (including on-base filling stations)
- 4% on drugstores
- 4% on recurring transit purchases
- 1% everywhere else
Unlike the BMO CashBack World Elite, the Scotiabank Momentum has no monthly cap on its 4% grocery rate — making it better for households spending more than $500/month on groceries, or those who also spend heavily on gas and drugstores.
Example: $1,000/month groceries + $300/month gas + $100/month drugstore:
- $1,000 × 4% = $40 grocery cash back
- $300 × 4% = $12 gas cash back
- $100 × 4% = $4 drugstore cash back
- Monthly total: $56 → $672/year → Less $120 fee = $552 net annual value
Cash back payout: Annually in November.
Read the full Scotiabank Momentum Visa Infinite review.
3. Simplii Financial Cash Back Visa — Best No-Fee Dining Card
Annual fee: $0 | Income requirement: None specified
Cash back rates:
- 4% on restaurants, bars, and takeout (up to $5,000/year spend, then 0.5%)
- 1.5% on eligible grocery, gas, and drugstore purchases (up to $15,000/year)
- 0.5% on all other eligible purchases
The Simplii Financial Cash Back Visa earns the highest dining cash back rate of any no-fee Canadian card at 4% — a category where paid competitors typically earn 1–2%. For households spending $400/month dining out, that’s $192/year in cash back with zero annual fee.
Limitation: The 4% rate is capped at $5,000 in annual restaurant spending (~$416/month). Spending above the cap reverts to 0.5%.
Cash back payout: Annually in January.
Read the full Simplii Financial Cash Back Visa review.
4. Rogers Red World Elite Mastercard — Best Flat-Rate No-Fee Card
Annual fee: $0 for Rogers, Fido, or Shaw customers (otherwise $29/year) | Income requirement: $80,000 personal or $150,000 household
Cash back rates:
- 1.5% on all eligible purchases
- 3% on purchases in foreign currency (which offsets the 2.5% FX fee — effectively a net 0.5% cash back on international spending with no net FX cost)
No foreign transaction fee effectively, due to the 3% cash back on foreign currency purchases cancelling out the 2.5% FX fee with a net 0.5% bonus.
For Rogers, Fido, or Shaw customers who pay their bill with the card, cash back can be applied directly to their Rogers/Fido/Shaw account.
Read the full Rogers Red World Elite Mastercard review.
5. Tangerine Money-Back Credit Card — Best Flexible No-Fee Cash Back
Annual fee: $0 | Income requirement: None specified
Cash back rates:
- 2% in up to 3 spending categories you choose (from: groceries, recurring bills, gas, drug stores, home improvement, furniture, entertainment, hotel/motel, public transit, restaurants)
- 0.5% on all other purchases
The flexibility to pick your 2% categories makes the Tangerine Money-Back the best-fit no-fee card for spending profiles that don’t match the fixed categories of bank-specific cash back cards. Popular combinations: groceries + gas + restaurants; groceries + recurring bills + drugstore.
Cash back payout: Monthly into your Tangerine account.
Read the full Tangerine Money-Back Credit Card review.
6. CIBC Dividend Visa Infinite — Balanced Premium Cash Back
Annual fee: $120 | Income requirement: $60,000 personal or $100,000 household
Cash back rates:
- 4% on groceries
- 4% on gas
- 2% on dining and recurring payments
- 1% everywhere else
Similar structure to the Scotiabank Momentum, but includes a 2% dining rate (Momentum is 1% for dining) and 2% on recurring payments (Momentum is 1% for most recurring bills). For cardholders with significant recurring bill and dining spend, the CIBC Dividend Visa Infinite may deliver more total cash back.
Cash back payout: Annually in January, or upon request.
Read the full CIBC Dividend Visa Infinite review.
Best No-Fee Cash Back Cards Summary
| Card | 2% or Higher Rate on | Everything Else |
|---|---|---|
| Simplii Cash Back Visa | 4% dining (capped), 1.5% grocery/gas/drug | 0.5% |
| Tangerine Money-Back | 2% in up to 3 chosen categories | 0.5% |
| CIBC Dividend Visa | 2% groceries | 1% |
| Rogers Red World Elite | 1.5% all (3% foreign) | 1.5% |
| PC Financial World Elite | 4.5% at Loblaws (PC Optimum) | 1% equivalent |
Which Cash Back Card Is Right for You?
| Spending Profile | Best Pick |
|---|---|
| Heavy grocery spender (up to $500/month) | BMO CashBack World Elite (5% grocery) |
| Heavy grocery spender (over $500/month) | Scotiabank Momentum Visa Infinite (4%, no cap) |
| Big gas + grocery household | Scotiabank Momentum or CIBC Dividend Visa Infinite |
| Dining out frequently | Simplii Cash Back Visa (4%, no fee) |
| Varied spending across many categories | Tangerine Money-Back (2% on your chosen 3) |
| Simple flat rate + no FX fee | Rogers Red World Elite (1.5% all, no effective FX) |
| Loblaws shopper | PC Financial World Elite (4.5% equiv. at Loblaws) |
Cash Back vs. Points: Which Is Better?
| Feature | Cash Back Cards | Points/Travel Cards |
|---|---|---|
| Simplicity | Very simple (% of spend returned as cash) | Requires programme knowledge |
| Maximum value | 1–5% depending on category | Up to 9¢/point with transfers (4–5%+ effective) |
| Flexibility | Spend your cash back anywhere | Points redeemable for specific travel |
| Best for | People who want simplicity and guaranteed value | People who travel and are willing to learn |
Rule of thumb: If you pay your balance in full and are willing to learn a loyalty programme, travel rewards cards typically deliver more total value on the same spending. If you want certainty and simplicity, cash back is the right choice.
Cash Back Cards FAQ
What is the best cash back card in Canada? For groceries: BMO CashBack World Elite (5% on first $500/month). For gas + grocery combined: Scotiabank Momentum Visa Infinite (4% both, no cap). For dining at no fee: Simplii Cash Back Visa (4%).
What is the best no-fee cash back card? Tangerine Money-Back (2% on 3 chosen categories) or Simplii Cash Back Visa (4% dining).
Is 2% cash back good? Yes — 2% on all purchases is excellent for a no-fee card and competitive among paid cards in Canada.
Does cash back expire? No, as long as your account is open. Payout schedules vary by card — monthly, annually, or on request.
Related Articles
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- Best Dining Credit Cards in Canada 2026
- Best No Annual Fee Credit Cards in Canada 2026
- Best Rewards Credit Cards in Canada 2026
- BMO CashBack World Elite Review 2026
- Scotiabank Momentum Visa Infinite Review 2026
Cash back rates, annual fees, income requirements, and caps are subject to change. Always verify with each issuer before applying.