Top Cash Back Credit Cards

Below is a list of Canadian banks and credit unions that offer cashback credit cards. I’ll update this list on an onging basis.

CIBC Dividend VISA Card

  • $0 annual fee; interest rate 19.5%
  • Tier one – 0.25% rebate for net annual purchases up to $1,500
  • Tier two – 0.50% rebate for net annual purchases from $1,500.01 to $3,000
  • Tier three – 1% rebate for net annual purchases over $3,000
  • No limit on how much cashback you can receive per year

CIBC Dividend Platinum VISA Card

  • $79 annual fee; interest rate 19.5%
  • Tier one – 0.5% rebate on your first $3,000 in annual net purchases
  • Tier two – 1% rebate on your next $12,000 in annual net purchases (Between $3,000 and $15,000)
  • Tier three – 1.5% rebate on your next $20,000 in annual net purchases (Between $15,000 and $35,000)
  • Tier four – 2% rebate on your next $15,000 in annual net purchases (Between $35,000 and $50,000)
  • Maximum cashback is $735 per year; ie, no cashback rebate on net purchases over $50,000 per year

BMO Premium CashBack MasterCard

  • $49 annual fee; interest rate 19.5%
  • 1% CashBack on card purchases
  • 3% CashBack at Shell locations in Canada
  • No limit on how much cashback you can receive per year

BMO No-fee CashBack MasterCard

  • $0 annual fee; interest rate 19.5%
  • 0.5% CashBack on card purchases
  • 1.5% CashBack at Shell locations in Canada
  • No limit on how much cashback you can receive per year

Scotia Momentum VISA Card

  • $39 annual fee; interest rate 19.99%
  • 2% cash back on the first $25,000 you spend annually on eligible gas, groceries, recurring payments and drug store purchases
  • 1% cash back on purchases made after you have reached the 2% $25,000 annual spend maximum and on all other purchases made with the card
  • Cashback limit: see above two points

MBNA Smart Cash Card

  • $0 annual fee; interest rate 13.99%
  • 3% cash back on the first $600 you spend monthly on eligible gas and groceries
  • 1% cash back on purchases made after you have reached the 3% $600 monthly spend maximum and on all other purchases made with the card
  • Cashback limit: see above two points

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