Cash back credit cards are simple: you get a small percentage back on every purchase you make and the reward comes in the form of money. In other words, swiping that plastic money can actually help you earn dollar bills in addition to spending them. Oh, the satisfaction. But there are many cash back credit cards across Canada to choose from, and not all are created equal. So, what are the most worthwhile options in Canada right now? We get down to the details and analyze each one.
Scotiabank Momentum Visa Infinite
It’s a great travel card too since it comes with comprehensive travel insurance and travel-related benefits. There’s an annual fee of $99 but this is waived during the first year. Interest rates are 19.99% on purchases and 22.99% on cash advances, balance transfers and cheques.
TD Cash Back Visa Infinite
RBC Cash Back Mastercard
SimplyCash Preferred Card from American Express
Rogers World Elite Mastercard
CIBC Dividend Visa Infinite
BMO CashBack Mastercard
The card gives you access to a 25% discount on car rentals, so it’s a must for those great Canadian road trips. There’s no annual fee.