1.SimplyCash® Preferred Card from American Express
American Express
- 4%Cash back on groceries and gas
- 2%Cash back on all other purchases
Earn 10% cash back on all purchases for the first 3 months (up to CA$2,000 in purchases) and a CA$50 statement credit upon making a purchase in month 13.
Earn 4% cash back on groceries and gas, and 2% on all other purchases.
21.99%
21.99%
The SimplyCash® Preferred Card from American Express stands out as the top choice because it offers a robust cash back structure, particularly for everyday spending on groceries and gas. With a generous welcome bonus and no limit on cash back earnings, it provides exceptional value for those who frequently shop in these categories.
Pros:
- High cash back on groceries and gas
- Strong welcome bonus
Cons:
- Annual fee applies
- Interest rates can be high
2.Neo Financial Mastercard
Neo Financial
- 5%Cash back at partner retailers
- 1%Cash back on all other purchases
Receive a CA$25 sign-up bonus upon approval.
Earn up to 5% cash back at partner retailers and a minimum of 1% on all purchases.
19.99%-29.99%
22.99%-31.99%
What sets the Neo Financial Mastercard apart is its impressive cash back rate of up to 5% at partner retailers, making it an excellent choice for those who frequently shop at these locations. Additionally, the lack of an annual fee enhances its appeal for budget-conscious consumers.
Pros:
- No annual fee
- High cash back potential at partner retailers
Cons:
- Interest rates can be high
- Limited to partner retailers for maximum rewards
3.Rogers Red World Elite Mastercard
Rogers Bank
- 3%Cash back on U.S. dollar purchases
- 2%Cash back on all other purchases
Earn CA$40 cash back for spending CA$6,000 within 105 days of account opening.
Earn 3% cash back on U.S. dollar purchases and 2% on all other purchases for Rogers/Fido/Shaw customers.
20.99%-25.99%
22.99%-27.99%
The standout feature of the Rogers Red World Elite Mastercard is its exceptional cash back rate of 3% on U.S. dollar purchases, making it an ideal choice for frequent travelers. Coupled with no annual fee, it offers significant savings for those who regularly spend in U.S. dollars.
Pros:
- No annual fee
- High cash back on U.S. dollar purchases
Cons:
- High income requirement
- Limited benefits for non-Rogers customers
4.Tangerine World Mastercard
Tangerine
- 2%Cash back in chosen categories
- 0.5%Cash back on all other purchases
Get CA$120 cash back when you spend CA$1,500 in the first 3 months.
Earn unlimited 2% cash back in up to 3 categories of your choice and 0.5% on all other purchases.
20.95%
22.95%
This card shines for its flexibility, allowing users to choose their preferred cash back categories, which can lead to significant rewards based on individual spending habits. The Tangerine World Mastercard is an excellent option for those looking to maximize their cash back potential without incurring an annual fee.
Pros:
- No annual fee
- Flexible cash back categories
Cons:
- Requires higher income
- Limited cash back on non-chosen categories
- 5Points on eligible purchases
- 1Points on all other purchases
Earn up to 30,000 bonus points (approx. CA$300 value) after spending CA$2,000 in the first 90 days and enrolling in paperless statements.
Earn 5 points per CA$1 on eligible restaurant, grocery, digital media, membership, and household utility purchases, and 1 point per CA$1 on all other purchases.
21.99%
22.99%
The MBNA Rewards World Elite® Mastercard® earns a high rate of points on everyday purchases, making it an excellent choice for those who spend significantly on groceries and dining. Its substantial welcome bonus further enhances its value, appealing to high-spending households.
Pros:
- High earning potential on everyday spending
- Generous welcome bonus
Cons:
- Annual fee applies
- Requires higher income
Final Words
As you navigate the various credit card options for online shopping this February, remember that the best choice depends on your spending habits and rewards preferences. Take time to compare features, fees, and benefits to make an informed decision that aligns with your financial goals.
Frequently Asked Questions
Earn 10% cash back on all purchases for the first 3 months (up to CA$2,000 in purchases) and a CA$50 statement credit upon making a purchase in month 13.
Earn up to 5% cash back at partner retailers and a minimum of 1% on all purchases.
The Rogers Red World Elite Mastercard has an annual fee of CA$0, making it a cost-effective option for cash back rewards.
Consider factors like rewards rates, welcome bonuses, and any applicable fees. Look for cards that offer higher cash back rates on online purchases, and assess how the card fits your spending habits.
Many cashback credit cards have no annual fee, making them accessible for most users. However, premium cards with higher rewards rates may charge annual fees, so weigh the benefits against the costs.
Cashback credit cards allow you to earn rewards on everyday purchases, turning your spending into savings. They can also provide additional perks like purchase protection and travel insurance, depending on the card.
Earn 4% cash back on groceries and gas, and 2% on all other purchases.
The Rogers Red World Elite Mastercard offers 3% cash back on U.S. dollar purchases and 2% on all other purchases for Rogers/Fido/Shaw customers.
