1.Scotia Momentum Visa Infinite Card
Scotiabank
- 4%Cash back on groceries and recurring bill payments
- 2%Cash back on gas, transit, rideshares, and food delivery
- 1%Cash back on all other purchases
Earn 15% cash back on all eligible purchases in your first 3 months (up to a maximum spend of CA$2,000).
Earn 4% cash back on groceries and recurring bill payments, 2% cash back on gas, transit, rideshares, and food delivery, plus 1% on all other purchases.
The Scotia Momentum Visa Infinite Card stands out as the top choice because it offers an impressive 4% cash back on groceries and recurring bills, making it ideal for everyday spending. With a generous welcome bonus and no annual fee in the first year, it provides exceptional value for those looking to maximize their cash back rewards.
Pros:
- High cash back on groceries and bills
- First-year annual fee waived
Cons:
- Annual fee after the first year
- Limited to specific categories for high rewards
2.Tangerine Money-Back World Mastercard
Tangerine
- 2%Cash back in up to 3 categories of your choice
- 0.5%Cash back on all other purchases
New cardholders can earn a 10% cash back bonus on everyday purchases made in their first 2 months, up to a maximum of CA$100.
Earn unlimited 2% cash back in up to 3 categories of your choice, plus 0.5% on all other purchases.
What sets the Tangerine Money-Back World Mastercard apart is its flexibility, allowing cardholders to choose their preferred cash back categories. With no annual fee and a straightforward rewards structure, it is an excellent option for those who want to maximize their cash back without incurring extra costs.
Pros:
- No annual fee
- Customizable cash back categories
Cons:
- Limited to 3 categories for higher rewards
- Lower cash back on non-category purchases
3.TD Cash Back Visa Infinite Card
TD Canada Trust
- 3%Cash back on groceries, gas, EV charging, recurring bill payments, and streaming services
- 1%Cash back on all other purchases
Earn up to CA$600 in total value, featuring a 10% cash back rate on eligible purchases during the first 3 months (up to CA$3,500 in spending) and a first-year annual fee rebate.
Earn 3% cash back on groceries, gas, EV charging, recurring bill payments, and streaming services, plus 1% on all other purchases.
The TD Cash Back Visa Infinite Card shines for its robust rewards structure, offering 3% cash back on essential spending categories like groceries and gas. With a significant welcome bonus and a first-year fee waiver, it provides an attractive option for those looking to earn cash back on their everyday expenses.
Pros:
- High cash back on essential categories
- First-year annual fee waived
Cons:
- Higher annual fee after the first year
- Limited to specific categories for high rewards
- 5%Cash back on groceries
- 4%Cash back on transit
- 3%Cash back on gas
- 2%Cash back on recurring bills
Includes up to CA$480 in cash back during your first year plus a first-year annual fee waiver.
Earn 5% cash back on groceries, 4% on transit, 3% on gas, and 2% on recurring bills.
The BMO CashBack World Elite Mastercard is a premium option that offers an impressive 5% cash back on groceries, making it ideal for frequent shoppers. With a substantial welcome bonus and a first-year fee waiver, it provides excellent value for those who meet the income requirements.
Pros:
- High cash back on groceries and transit
- First-year annual fee waived
Cons:
- Requires high income for eligibility
- Annual fee after the first year
5.Rogers Red World Elite Mastercard
Rogers Bank
- 3%Cash back on US dollar purchases
- 1.5%Cash back on all other purchases
No standard welcome bonus, but targeted promotions may be available.
Earn up to 3% cash back on US dollar purchases and 1.5% on everything else.
The Rogers Red World Elite Mastercard stands out for its no annual fee and high cash back on US dollar purchases, making it a great choice for frequent travelers. While it lacks a standard welcome bonus, its ongoing rewards structure provides significant value for eligible Rogers customers.
Pros:
- No annual fee
- High cash back on US dollar purchases
Cons:
- No standard welcome bonus
- Limited benefits for non-Rogers customers
Final Words
As you navigate the world of cashback credit cards this June, remember that the best choice aligns with your spending habits and financial goals. Take time to compare the options available to you, ensuring that you make informed decisions that maximize your rewards and benefits.
Frequently Asked Questions
Earn 15% cash back on all eligible purchases in your first 3 months (up to a maximum spend of CA$2,000). This can yield up to CA$300 in cash back.
Earn 3% cash back on groceries, gas, EV charging, recurring bill payments, and streaming services, plus 1% on all other purchases.
Earn unlimited 2% cash back in up to 3 categories of your choice, plus 0.5% on all other purchases.
Many cashback cards have no annual fee, such as the Tangerine Money-Back World Mastercard. However, higher-tier cards may charge annual fees, so it's important to consider whether the benefits outweigh the costs.
Consider your spending habits to select a card that offers higher rewards in categories you spend the most on. Additionally, evaluate welcome bonuses, annual fees, and the overall cash back structure before making a decision.
Yes, for instance, with the TD Cash Back Visa Infinite Card, you can earn up to CA$600 in total value, featuring a 10% cash back rate on eligible purchases during the first 3 months (up to CA$3,500 in spending).
Absolutely! Many cashback credit cards, like the Scotia Momentum Visa Infinite Card, allow you to earn cash back on everyday purchases, with varying rates depending on the category of spending.
