Best Cash Back Credit Cards Canada 2025

Best Cash Back Credit Cards Canada 2025 — Ranked

Compared on earn rates, annual fee value, and Canadian spending patterns.

CIBC Dividend Visa Infinite

Best overall cash back card Canada

$120/yr (waived yr 1)

4% Groceries4% Gas2% Transit/Dining1% Everything

The CIBC Dividend Visa Infinite earns 4% at grocery stores and gas stations — the highest everyday earn rate among major Canadian cash back cards. Annual fee of $120 is easily offset by a moderate grocery/gas spend. Welcome bonus of up to $400 in first-year cash back makes year one exceptional value.

Pros

4% groceries and gas
No cap on cash back
Strong welcome bonus

Cons

$120 annual fee
$600K household income req
CIBC banking not required but helpful

BMO CashBack World Elite Mastercard

5% groceries — highest in Canada

$120/yr

5% Groceries4% Transit3% Gas1% Everything

The BMO CashBack World Elite earns 5% on groceries — the highest grocery earn rate in Canada — though capped at $500/month in grocery spend. Ideal for families with high grocery bills. The 4% on recurring payments (Netflix, gym, insurance) is a hidden gem.

Pros

5% groceries (highest in Canada)
4% recurring bill payments
Comprehensive travel insurance

Cons

5% capped at $500/mo groceries
$800K personal income req
Cash back paid annually

Tangerine Money-Back Card

Best no-fee cash back card

No annual fee

2% (2–3 categories)00.5% Everything

Tangerine's no-fee card lets you choose 2 categories (3 with a Tangerine account) that earn 2% — groceries, gas, restaurants, entertainment, or more. Monthly cash back deposited directly to your account. The flexibility makes it ideal for maximizing earn on your specific spending patterns.

Pros

No annual fee
Choose your 2% categories
Monthly cashback payout

Cons

00.5% on other categories
No travel insurance
Limited perks vs premium cards

Scotiabank Momentum Visa Infinite

4% groceries + subscriptions

$120/yr (waived yr 1)

4% Groceries4% Subscriptions2% Gas/Transit1% Everything

Scotia Momentum earns 4% on grocery stores AND recurring subscriptions (streaming, gym, insurance) — uniquely valuable in the digital subscription era. Strong comprehensive insurance package including travel emergency medical, trip cancellation, and extended warranty.

Pros

4% subscriptions unique perk
Comprehensive insurance
First year fee waived

Cons

$120 fee after year 1
$600K personal income req
Cash back applied once/year

KOHO Prepaid Mastercard

Best no-fee alternative — earns cashback + $100 bonus

Free plan available

1–5% Cashback3% Interest on savings$100 Sign-up Bonus

KOHO isn't a credit card — it's a prepaid Mastercard that earns cash back on everyday spending while also paying 3% interest on your savings balance. With code BREMO2026, you earn a $100 welcome bonus instantly. Zero credit check, no annual fee, and CDIC-insured. Perfect for those who want cash back benefits without credit card debt risk.

Pros

$100 instant bonus (code BREMO2026)
No credit check required
3% on savings balance

Cons

Prepaid, not a credit card
Doesn't build credit history
Premium features require subscription

No fee everyday banking

Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.

See how it works

Quick Comparison — Best Cash Back Cards Canada 2025

Card	Annual Fee	Grocery Rate	Gas Rate	Base Rate
CIBC Dividend Visa Infinite	$120	4%	4%	1%
BMO CashBack World Elite	$120	5%*	3%	1%
Tangerine Money-Back	$00	2%	2%	00.5%
Scotiabank Momentum Infinite	$120	4%	2%	1%
KOHO (no-fee alternative)	$00	Up to 5%	Up to 2%	1%

* BMO 5% grocery capped at $500/month spend

Frequently Asked Questions

Which cash back credit card has the highest grocery rate in Canada?

The BMO CashBack World Elite Mastercard earns 5% on groceries — the highest rate available in Canada for a major credit card. However, it's capped at $500/month in grocery spend (so max $25/month from groceries = $300/year). For uncapped high grocery earn, the CIBC Dividend Visa Infinite earns 4% with no monthly cap. For those spending more than $625/month on groceries, the CIBC card actually earns more overall despite the lower rate.

Is cash back or travel points better for Canadians?

Cash back is simpler, more flexible, and never expires or devalues. Travel points can deliver outsized value (especially business class redemptions through Aeroplan) but require more optimization effort. If you don't fly regularly or find rewards programs confusing, cash back is the better choice — a dollar of cash back is always worth a dollar. For frequent flyers, Aeroplan and Membership Rewards points can be worth 2–4¢ each when redeemed strategically.

Should I pay an annual fee for a cash back credit card?

A $120 annual fee is worth it if the higher earn rates save you more than $120/year. For the CIBC Dividend Visa Infinite: if you spend $500/month on groceries and $200/month on gas, you earn $336/year at 4% vs. $84/year at a no-fee card's 1% — a $252 advantage that easily covers the $120 fee. Rule of thumb: if you spend more than $5,000/year on the card's bonus categories, a premium cash back card almost always pays off.

What's the best cash back credit card in Canada with no annual fee?

The Tangerine Money-Back Card is the best no-fee cash back card — it lets you earn 2% in up to 3 categories of your choosing. Close runner-up: the SimplyCash Card from American Express (1.25% flat rate, no fee) is excellent for simplicity. KOHO's free prepaid Mastercard earns 1% cashback with a $100 sign-up bonus (code BREMO2026) — and pays 3% on your savings balance, making it uniquely valuable for people who want to save and spend on the same card.

Does KOHO count as a cash back credit card?

KOHO is technically a prepaid Mastercard, not a credit card. You preload funds and spend up to your balance. It earns cashback like a credit card but doesn't build a credit history or involve credit. The key advantage: no risk of debt, no credit check required, and CDIC-insured savings at 3% interest. The $100 welcome bonus (code BREMO2026) and 1–5% cashback make it competitive with no-fee cash back credit cards — especially for those building financial foundations.

No Annual Fee + $100 Cash Bonus — KOHO