Cash back credit cards 2021

Cash back credit cards are the most basic type of rewards card, and if you know how to use a cash back card to your advantage, you can see fantastic rewards. Learn more about the benefits of cash back credit cards in our expert guide below.

SimplyCash Card from American Express

SimplyCash Card from American Express

19.99 % APR

Purchase interest rate

Eligibility criteria, terms and conditions, fees and charges apply

SimplyCash Card from American Express

Apply today and earn 2.5% cash back (up to $150 cash back) in the first three months.

• Purchase interest rate: 19.99%
• Cash advance rate: 21.99%
• Annual fee: $0
• Credit rating: 650+
• Minimum age: Age of majority in province/territory of residence

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Compare cash back credit cards

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Name	Product	Purchase Interest Rate	Cash Advance Rate	Cash Back Rate	Annual Fee	Minimum Income		Reward
SimplyCash Preferred Card from American Express		19.99%	21.99%	2%	$99	N/A	Go to site More Info	Earn 2% cash back on all eligible purchases	Earn 10% cash back on all eligible purchases (up to $400 in cash back) for the first four months of Cardmembership.	Compare	loading Fetching your data...
SimplyCash Card from American Express		19.99%	21.99%	1.25%	$0	N/A	Go to site More Info	1.25% cash back rate on all purchases when your welcome offer ends. No cap	Earn 2.5% cash back on all eligible purchases in your first three months (up to a maximum spend of $6,000, or $150 in cash back).	Compare	loading Fetching your data...
Tangerine Money-Back Credit Card		1.95% intro APR for the first 6 months, 19.95% thereafter	19.95%	2%	$0	$12,000	Go to site More Info	Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.	Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).	Compare	loading Fetching your data...
BMO CashBack World Elite Mastercard		19.99%	22.99%	1.5%	$0 annual fee for the first year ($120 thereafter)	$80,000	Go to site More Info	Earn 1.5% cash back on all eligible purchases.	Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.	Compare	loading Fetching your data...
Shell CashBack Mastercard from BMO		19.99%	22.99%	1.5%	$0	$15,000	Go to site More Info	Get 1.5% cash back at participating Shell locations in Canada (up to a maximum spend of $2,500 in any monthly billing period), and get 0.5% cash back everywhere else.	Get $50 in cash back bonuses once you charge your first eligible purchase to your card. Plus, earn 1% cash back for the first 6 months on all eligible purchases.	Compare	loading Fetching your data...
BMO Cashback Business Mastercard		19.99%	22.99%	1.75%	$0	N/A	Go to site More Info	Earn 1.5% cash back on eligible gas purchases, office supplies and on cell phone and internet recurring payments, earn 1.75% cash back at participating Shell stations, and earn 0.75% on all other eligible card purchases.	Get 10% cash back on gas, office supplies, cell phone bills and internet bills for 3 months.	Compare	loading Fetching your data...
BMO CashBack Mastercard		19.99%	22.99%	0.5%	$0	$15,000	Go to site More Info	Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.	Get 5% cash back on all eligible purchases in the first three months of card membership (up to a maximum spend of $2,000, and earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases thereafter). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.	Compare	loading Fetching your data...
BMO CashBack Mastercard For Students		19.99%	22.99%	0.5%	$0	$15,000	Go to site More Info	Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.	Get up to 5% cash back in the first three months (up to a maximum spend of $2,000, and earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases thereafter). Plus, get a rate of 1.99% on balance transfers for 9 months, with a 1% fee for every transferred balance.	Compare	loading Fetching your data...
Shell CashBack World Mastercard from BMO		19.99%	22.99%	3%	$79	$60,000	Go to site More Info	Get 3% cash back per $1 spent at Shells stations, 1.25% cash back on all other spend.	Earn 3% cash back at Shell stations in Canada, plus 1.25% cash back on all other spend.	Compare	loading Fetching your data...
Scotia Momentum No-Fee Visa Card		7.99% intro APR for the first 6 months, 19.99% thereafter	22.99%	1%	$0	$12,000	Go to site More Info	Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.	Get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by February 28, 2021.	Compare	loading Fetching your data...
Scotia Momentum Mastercard		7.99% intro APR for the first 6 months, 19.99% thereafter	22.99%	1%	$0	$12,000	Go to site More Info	Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.	Get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by February 28, 2021.	Compare	loading Fetching your data...
Scotia Momentum Visa Infinite Card		20.99%	22.99%	4%	$0 annual fee for the first year ($120 thereafter)	$60,000	Go to site More Info	Earn 4% cash back for every $1 spent on eligible grocery purchases & recurring bill payments, 2% per $1 spent on eligible gas purchases & public transit, and 1% per $1 spent on all other eligible purchases.	Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases) and pay no annual fee in the first year, including on supplementary cards (A welcome offer value of $350). Apply by February 28, 2021.	Compare	loading Fetching your data...
Scotiabank GM Visa Card		19.99%	22.99%	5%	$0	$12,000	Go to site More Info	Earn 5% in GM Earnings on all eligible purchases on the first $5,000 annual spend, and 2% in GM Earnings on all eligible purchases thereafter.	Earn 5% in GM Earnings on all eligible purchases on the first $5,000 annual spend, and 2% in GM Earnings on all eligible purchases thereafter. For every $1 in GM Earnings, you’ll get $1 off the purchase price or lease of a new GM, Chevrolet, Buick, GMC or Cadillac.	Compare	loading Fetching your data...
Scotiabank GM Visa Infinite Card		19.99%	22.99%	5%	$0 annual fee for the first year ($79 thereafter)	$60,000	Go to site More Info	Earn 5% in GM Earnings on the first $10,000 annual spend, and earn 2% in GM Earnings thereafter.	Get the annual fee waived in the first year on the primary card as well as any supplementary cards. Apply by February 28, 2021.	Compare	loading Fetching your data...
Scotia Momentum Visa Card		19.99%	22.99%	2%	$39	$12,000	Go to site More Info	Earn 2% cash back on all eligible gas station, grocery store and drug store purchases and on recurring bill payments (up to a $25,000 annual spend), and earn 1% cash back on all other eligible purchases (and on all eligible purchases once the $25,000 annual spend is reached).	Get a 2.99% introductory rate on balance transfers and a 0% balance transfer fee for the first 6 months. Apply by February 28, 2021.	Compare	loading Fetching your data...
Tangerine World Mastercard		19.95%	19.95%	2%	$0	$60,000	Go to site More Info	Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.	Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).	Compare	loading Fetching your data...

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How do cash back credit cards work?

Cash back credit cards are a type of rewards credit card that pays cash rewards on purchases. With a cash back credit card, cash is rewarded as a percentage of each purchase made. If your cash back credit card paid 1% cash back on all purchases, for example, you would earn $1 for every $100 in credit card purchases you make.

Most providers will automatically send your cash back to you – either monthly or annually – by making a direct deposit into your bank account or by sending you a cheque in the mail. This means you can typically use your cash back however you please.

Types of cash back rewards programs

Cash back rewards programs are set up in three basic ways:

1. Flat rate rewards. With flat rate rewards, the credit card pays a flat percentage as a reward on all purchases. This kind of reward program is easy to understand and earning rewards is almost effortless.
2. Tiered rewards. This type of program pays different percentages of rewards on different categories of purchases. This type of rewards program will require a little more calculation and strategy in using your credit card if you want to earn the maximum amount of rewards.
3. Rotating categories. A rotating categories cash back credit card offers a higher reward rate for certain categories. With these cards, you may even be able to choose the spending categories yourself and change them monthly. Much like tiered rewards, you’ll need to analyze your spending and choose categories accordingly.

How to choose the best cash back credit card for your needs

While the opportunity to earn cash back may sound appealing, cash back credit cards aren’t for everyone. Still, this type of card can serve you well if you carefully choose the right product.

1. Decide whether a cash back card is the right choice.
   A cash back credit card may be a good fit if you want rewards that are easy to redeem and you’re okay with not having top-of-the-line perks such as travel credits and elite status in loyalty programs. If you want a card with more features, consider a premium travel card.
2. Decide if you want to pay an annual fee.
   Cards with the highest cash back rates may have annual fees. However, you can find many excellent cash back cards with no annual fees. If you decide to pay this cost, consider whether you’ll earn enough rewards to cover what you pay.
3. Analyze your spending and find a rewards structure that fits.
   Think about what you typically spend on. If your spending is concentrated in certain categories, you might like a card that offers bonus rewards for those purchases. If you spend relatively evenly throughout many categories, a flat rate cash back card might fit the bill. This is a card that offers the same cash back rate on all purchases, no matter the category.
4. Look at other benefits.
   When you’ve narrowed your potential picks, look into other features such as signup bonuses, balance transfer offers and travel insurance coverage. You may be able to easily pick a winner among cards that are seemingly identical.

Compare cash back apps to help you earn even more rewards

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Name	Product	Reward	Fees	Participating Brands	Min. to Cash Out
Ampli		1-10% cash back, or a set $ amount	$0	50+	$15	Link your debit and credit cards to the Ampli app and earn cash back at 50+ big retailers across Canada. Enter promo code AMPLI5 to receive a $5.00 cash back bonus on signup.	Go to site More Info	Compare	loading Fetching your data...

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Frequently asked questions

• Is there a limit to the amount of cash back that I can earn?

  It depends on the card. Some providers set limits, while others don’t. If your card comes with unlimited cash back, be wary of any caps on welcome bonuses.

• Can I redeem for something other than cash?

  It depends on the provider. Some providers will directly deposit cash back into your account, while others may allow you to redeem your cash back for gift cards.

• Do cash back rewards expire?

  No, your cash back rewards don’t expire as long as your account remains open and in good standing. Any rewards not redeemed by account closing will be lost.