The best cashback credit card in Canada depends on where the money goes each month: groceries, gas, recurring bills or U.S.-dollar purchases. This guide compares the earn rates, annual fees and spending caps of six cards, using each issuer’s own product page. YieldMaple last checked those pages on October 7, 2026. It is general education, not financial advice.
Best cashback credit cards in Canada at a glance
| Spending profile | Card | Cash back |
|---|---|---|
| No fee, flexible categories | Tangerine Money-Back Credit Card | 2% in two categories you choose (three if rewards go to a Tangerine Savings Account) and 0.5% on everything else |
| U.S.-dollar purchases, no fee | Rogers Red Mastercard | 2% on U.S.-dollar purchases |
| Groceries and gas, annual fee | CIBC Dividend Visa Infinite | 4% on groceries, gas and EV charging |
| Flat rate on everything else | SimplyCash Preferred (Amex) | 2% on everything outside its 4% categories |
| Groceries and recurring bills | Scotia Momentum Visa Infinite | 4% on groceries and recurring payments |
How do you compare cashback credit cards in Canada?
Compare cashback cards on three things: the rate in your biggest spending categories, the annual fee, and the yearly cap on the bonus rate.
- Where you spend most. Groceries, gas, dining, recurring bills and U.S.-dollar purchases are the categories issuers reward. A separate comparison of gas credit cards covers the fuel category on its own.
- How much you spend. Caps matter once a household passes them; CIBC, for example, says the 4% and 2% rates apply to the first $20,000 a year of combined spending in the bonus categories, or the first $50,000 of total card spending if that comes first; after that everything earns 1% until the limits reset after the December statement.
- How many cards you want to carry. One flat-rate card is simpler; two or three category cards earn more.
The ongoing earn rate usually outweighs a welcome offer. On a hypothetical $30,000 a year of card spending over five years, a 1% card returns $1,500 and a 2% card returns $3,000.
What is the best cashback credit card in Canada by category?
No single card wins every category: Tangerine leads on no-fee flexibility, the CIBC Dividend Visa Infinite on groceries and gas, and Rogers Red on U.S.-dollar spending.
Best no-fee cashback: Tangerine Money-Back Credit Card
Earn rate: 2% in two categories you choose (three if rewards go to a Tangerine Savings Account) and 0.5% on everything else.
Annual fee: $0
Categories you can pick:
- Groceries
- Gas
- Restaurants
- Recurring bill payments
- Drug store purchases
- Entertainment
- Hotel/motel
- Furniture
- Public transportation/parking
- Home improvement
Cap: no cap — Tangerine calls the 2% cash back unlimited. Tangerine lets you change categories every 90 days.
Why it stands out among no-fee cards: you choose the categories, so the card can follow your spending. A hypothetical household putting $800 a month of groceries and $200 a month of gas in its two 2% categories would earn $240 a year, with no annual fee.
The catch: the third 2% category applies only when rewards are deposited into a Tangerine Savings Account. Purchases in a foreign currency carry a 2.5% fee, and the purchase interest rate is 20.95%.
For the full breakdown: Tangerine Money-Back Mastercard Review.
Best for USD purchases: Rogers Red Mastercard
Earn rate: 2% on all eligible purchases with an eligible Rogers service; without one, 2% on U.S.-dollar purchases and 1% on everything else — on the first $16,000 a year, then 1%.
Annual fee: no annual fee; approval subject to credit assessment (no minimum income listed)
How the USD rate works: Rogers Bank charges a foreign currency fee of 2.5% (0% only on the Rogers Red World Legend Mastercard). The 2% cash back on U.S.-dollar purchases offsets most of it, leaving a net cost of about 0.5% on the regular Rogers Red Mastercard. Cards that charge no foreign currency fee are covered in the travel credit card guide.
Who uses it:
- Snowbirds and frequent visitors to the U.S.
- People who shop on U.S. websites or pay U.S.-dollar subscriptions
- Rogers, Fido, Shaw or Comwave customers, who get 2% on all eligible purchases with an eligible Rogers service
Cap: the cash back rates apply to the first $16,000 spent in each annual period.
Best premium cashback: CIBC Dividend Visa Infinite
Earn rate: 4% cash back on eligible gas, EV charging and groceries; 2% on eligible transportation, dining, recurring payments and CIBC by Expedia travel; 1% on everything else.
Annual fee: $120 (first year rebated under the current offer); $50 for each of up to 3 additional cards
Cap: the 4% and 2% rates apply to the first $20,000 a year of combined spending in the bonus categories, or the first $50,000 of total card spending if that comes first; after that everything earns 1% until the limits reset after the December statement.
Break-even calculation: against a no-fee card paying 2% on the same purchases, the extra 2 percentage points cover the $120 fee once grocery, gas and EV charging spending passes $6,000 a year, or $500 a month. Below that, a no-fee 2% card returns more.
The grocery credit card guide compares this card with the Scotia Momentum Visa Infinite in more detail.
Best simple flat-rate: SimplyCash Preferred (American Express)
Earn rate: 4% on eligible gas and grocery purchases in Canada and 2% on everything else, per American Express’s product page on October 7, 2026.
Annual fee: $9.99 a month ($119.88 a year) outside Quebec.
Cap: the 4% grocery rate applies up to $1,200 of grocery cash back a year, which works out to $30,000 of grocery spending. American Express states no limit on the 2% rate.
Caveat: American Express is accepted at fewer Canadian merchants than Visa or Mastercard, and the only credit cards Costco Canada warehouses accept are Mastercards, so many cardholders keep a second card. The interest rate is 21.99% on purchases and 21.99% on funds advances.
Who it fits: people who want one card with a 2% floor on every purchase and no categories to manage. For comparison, the Wealthsimple Visa Infinite pays 2% on every purchase for $240 a year ($20/month), waived with $100,000+ in individual assets or $4,000+/month direct deposit.
Cashback card comparison table
| Feature | Card | Annual fee | Top earn rate | Profile |
|---|---|---|---|---|
| Tangerine Money-Back Credit Card | $0 | 2% in 2 or 3 chosen categories | No-fee, flexible categories | |
| Rogers Red Mastercard | No annual fee | 2% on U.S.-dollar purchases | U.S.-dollar purchases | |
| CIBC Dividend Visa Infinite | $120 (better on this row) | 4% on groceries, gas and EV charging | Grocery and gas spending | |
| SimplyCash Preferred (Amex) | $119.88 a year | 4% on gas and groceries | Flat 2% on everything else | |
| Scotia Momentum Visa Infinite | $120 | 4% on groceries and recurring payments | Groceries and recurring bills | |
| CIBC Dividend Visa | $0 | 2% on groceries | No-fee grocery card |
Sources: each issuer's product page, last checked on October 7, 2026. Rates and fees change; confirm them on the issuer's page before applying.
The Scotia Momentum Visa Infinite pays 4% cash back on groceries and recurring payments; 2% on gas, EV charging, daily transit, rideshare and food delivery; 1% on everything else, up to $25,000 a year in each of the 4% and 2% categories, then 1%. The no-fee CIBC Dividend Visa pays 2% cash back on eligible groceries; 1% on eligible gas, EV charging, transportation, dining, recurring payments and CIBC by Expedia travel.
Which cashback card combination earns the most?
A two-card, no-fee combination of the Tangerine Money-Back Credit Card and the Rogers Red Mastercard earns 2% in the categories you choose and on U.S.-dollar purchases, with no annual fee.
- Tangerine Money-Back Credit Card for the two highest-spend categories (often groceries and recurring bills)
- Rogers Red Mastercard for U.S.-dollar purchases and everything outside the Tangerine categories
- Optionally, a Mastercard such as the CIBC Costco Mastercard ($0 annual fee; 3% cash back at restaurants and Costco gas; 2% at other gas stations, EV charging stations and Costco.ca) for Costco trips
Worked example with hypothetical numbers: a household spends $800 a month on groceries and $300 a month on recurring bills on the Tangerine card, and $1,000 a month on everything else on the Rogers Red.
- Tangerine: $264 a year
- Rogers Red without a qualifying Rogers service: $120 a year
- Rogers Red with a qualifying Rogers service: $240 a year
That is $384 to $504 a year with no annual fees. Your own numbers will differ.
Which cashback cards cost more than they return?
A cashback card costs more than it returns when its annual fee is larger than the extra cash back it earns over a no-fee card at your level of spending.
- Cards with a large welcome offer and a low ongoing rate. Welcome offers end after the first months; the ongoing rate sets the long-run return.
- Annual-fee cards below their break-even. The break-even is the fee divided by the extra earn rate, as in the CIBC example above.
- Store-branded cards used outside the store. Cards tied to one retailer’s points program earn the most at that retailer’s banners.
- Any rewards card that carries a balance. Interest at rates such as 20.95% is many times larger than a 2% or 4% reward.
More credit card guides
- Best credit cards in Canada — the full credit card landscape
- Tangerine Money-Back Mastercard Review — the no-fee pick in detail
- Best high-interest savings account in Canada — where to park rewards
- How to invest in Canada — putting cashback to work