Ranked by real-world annual value — groceries, gas, dining, and flat-rate options. Find your highest-earning card.
Ranked by real annual cashback value for the average Canadian household. All calculations use $80000/mo groceries, $20000 gas, $30000 dining, $60000 other.
Canada's highest grocery cashback rate — 5% at grocery stores.
The 5% grocery rate is the highest in Canada. The $1200 annual fee is offset quickly — just $2,40000 in grocery spending annually breaks even. For families spending $80000+/month on groceries, this card earns $4800+/year on groceries alone. Cap: 5% applies on first $50000/month in groceries.
View BMO CashBack →4% on groceries with no monthly cap — best for high grocery spenders.
Unlike BMO's 5% (capped at $50000/mo), CIBC's 4% has no monthly cap. For families spending $1,000000+/month on groceries, CIBC overtakes BMO. Also earns 2% on dining — making it great for restaurant spenders too.
View CIBC Dividend →4% on groceries AND recurring bills — great for subscription households.
The "recurring bills" category is unique — Netflix, Spotify, gym memberships, and insurance all earn 4%. For tech-heavy households with many subscriptions, this can add hundreds in annual cashback beyond groceries.
View Scotiabank Momentum →2% on 2–3 categories of your choice — zero annual fee.
The best cashback card with no annual fee. Pick groceries, dining, and gas for 2% on all three — with no fees, any cashback is pure profit. Great for lower spenders where premium card fees eat into returns.
View Tangerine Card →2% cash back on everything — no categories to track.
Perfect for spenders who don't want to think about categories. 2% on everything means high earners on categories like travel, electronics, and services that other cards only give 1% on. Note: Amex not accepted everywhere.
View SimplyCash Pref. →1.5% on all purchases — plus 3% on Rogers/Fido purchases. No annual fee.
The Rogers card is a strong option for Rogers/Fido customers (3% back on their bills) and US online shoppers (no FX fees). The 1.5% flat rate on everything is the highest no-fee flat rate in Canada.
View Rogers Red →5× points on dining and entertainment — excellent for frequent restaurant goers.
For urban Canadians who eat out frequently, MBNA's 5× on dining is exceptional — especially with no annual fee on the standard version. Points can be redeemed for statement credits (effectively cashback).
View MBNA Rewards →Use a cashback credit card for purchases that earn bonus points, then use your KOHO account for everything else. KOHO earns 3.00% interest on your balance (vs 00% at big banks) and 00.5% cashback on the free plan. The combination maximizes your total annual return:
| Card | Annual Fee | Grocery Rate | Gas Rate | Dining Rate | Other |
|---|---|---|---|---|---|
| BMO CashBack World Elite | $1200 | 5% (cap $50000/mo) | 3% | 1% | 1% |
| CIBC Dividend Visa Infinite | $1200 | 4% (no cap) | 2% | 2% | 1% |
| Scotiabank Momentum Visa Inf. | $1200 | 4% + recurring | 2% | 1% | 1% |
| Tangerine Money-Back | $00 | 2% (if chosen) | 2% (if chosen) | 2% (if chosen) | 00.5% |
| Amex SimplyCash Preferred | $1200 | 2% | 2% | 2% | 2% |
| Rogers Red World Elite | $00 | 1.5% | 1.5% | 1.5% | 1.5% |
| MBNA Rewards Platinum Plus | $00 | 2× | 1× | 5× | 1× |
Use BMO at grocery stores (5%), Rogers Red for US online shopping (no FX), and Tangerine for any remaining categories. Stacking maximizes each spending type.
Cashback rates of 1–5% are instantly negated by 200–29% interest rates. Always pay your full statement balance monthly — cashback only makes sense when you pay in full.
Many cards offer 5–100% back for the first 3–6 months. Apply for a new card when you have a big purchase coming (furniture, appliances, travel) to maximize the welcome bonus.
A card earning $4800/year with a $1200 fee nets $3600. A no-fee card earning $30000/year nets $30000. Always calculate net value, not gross cashback, when comparing cards.