Top cash back credit cards in Canada

Various credit card companies and banking institutions offer 2%+ cash backs on credit card purchases. That is, you will get 2+% cash back for every dollar you spend. I found that this can be an effective way to periodically contribute to your RRSP or the TFSA account. For example, if you pay all your utilities (gas, water, internet, gym, phone bills, monthly donations, etc) with your credit card totaling at about 800$ per month, at the end of the year, you can get around 170$ extra to contribute to your RRSP.

The following is a list of the top cash back credit cards in Canada. Hope you can pick out the one with the best value! Happy hunting!

MBNA Smart Cash Platinum Plus

  • 5% back on grocery and gas for the first 6 months
  • 3% cash back on grocery and gas thereafter
  • 1% cash back on all other retail purchases
  • No annual fee

Scotia Momentum VISA card

  • 2% cash back on all grocery, gas, recurring payments and drug store purchases
  • 1% cash back on all other purchases
  • Annual fee: $39

TD Rebate Rewards VISA card

  • Earn a 0.5% cash reward on the first $3,000 in net annual purchases charged to your Card
  • Earn a 1% cash reward on your net annual purchases over $3,000 (to a maximum annual purchase limit of $25,000)


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