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Best Cash Back Credit Cards in Canada 2018

Last updated: November 1, 2018

Best cash back credit cards in Canada

Not all cash back credit cards are created equal. On the high end, a cash back card could have you enjoying 2% return on all your spending ‒ and on the low end, some cards only offer 0.4% back.

Simple enough, right? But here’s where things get complicated...

If perks and insurance are something you enjoy or if you’re looking for a card that won’t hold your cash hostage for an entire year ‒ then there are more factors to take into account more than just the return on spending.

Not only that, some cards are riddled with hoops and frustrating tiers that take away the ease and simplicity of cash back cards.

The point? It pays to look at the details.

2018 Cash Back Credit Card Rankings

70 cash back credit cards in Canada were considered for this comparison ‒ you can find the top 10 in the table below ranked from best to worst.

Cards that allow you to convert your points to cash, statement credits, or money to invest ‒ even if they aren't marketed as cash back cards ‒ are included to give you more options.

The table scrolls horizontally by using the slider at the bottom.

  Credit Card
Apply Scotia Momentum Visa Infinite
Apply SimplyCash Preferred Card from American Express
Apply Rogers World Elite Mastercard
Apply CIBC Dividend Visa Infinite
Apply CIBC Dividend Platinum Visa
Apply TD Cash Back Visa Infinite Card
Apply Desjardins Odyssey World Elite Mastercard
Apply Scotiabank Gold American Express
Apply Tangerine Money-Back Credit Card
Apply SimpyCash Card from American Express
Overall Score Net Cash $25,000 Spend1 Net Cash $100K Spend2 Annual Fee First Year Free Sign Up Bonus Value3 Insurance Score Perks Score
5.0 $407 $1,851 $99 Yes $0 2.7 1.0
4.7 $401 $1,901 $99 No up to
2.4 1.4
4.7 $437 $1,750 $0 Yes $25 1.6 0.8
4.5 $357 $1,501 $99 Yes $0 2.7 1.3
4.4 $357 $1,501 $99 Yes $0 2.7 1.3
4.3 $342 $1,680 $120 No up to $210 2.1 1.9
4.1 $285 $1,710 $130 No $0 4.8 2.1
4.0 $311 $1,541 $99 No $120 4.3 2.0
3.8 $284 $1,137 $0 Yes $0 1.2 1.2
3.8 $312 $1,250 $0 Yes up to $75 0.6 1.6

(+/-) Footnotes:

* Limited time promotion ending soon.
1. $25,000 in annual spending works out to $2,083 in monthly spending which is achievable for a typical Canadian family funneling most of their spending through their credit card. The cash back shown is calculated by splitting spending sensibly across spending categories like groceries, gas, drugstore, travel, bills, and everyday spending. All spending bonuses, tiers, limits, and caps are taken into account in these calculations. Sign up bonuses are NOT included in these numbers, so that will be an extra perk for you. Finally, the annual fee is deducted from the cash back earned giving you the true cash back earned for the year.
2. $100,000 in annual spending works out to $8,333 in monthly spending which is too high for most families. I have included these numbers to better evaluate cards and give an advantage to cards who don't have spending caps or limits. It also allows cards that have a good tier system to shine at higher spending levels. The cash back shown is calculated by splitting spending sensibly across spending categories like groceries, gas, drugstore, travel, bills, and everyday spending. All spending bonuses, tiers, limits, and caps are taken into account in these calculations. Sign up bonuses are NOT included in these numbers, so that will be an extra perk for you. Finally, the annual fee is deducted from the cash back earned giving you the true cash back earned for the year.
3. The sign up bonus value is the maximum possible dollar value you can get from the bonus if you take full advantage of it. So, with a 5% gas and grocery bonus for 6 months with a $250 cap - $250 would be the value.

Get a top flexible travel credit card.
Plus a travel bonus worth another $150.
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The Top In Detail

1) Scotia Momentum Visa Infinite

Scotia Momentum Visa Infinite

The number one card on our list is the Scotia Momentum Visa Infinite.

This card will give cardholders up to 4% cash back on all purchases –

  • 4% cash back on all eligible gas and grocery purchases,
  • 2% cash back on all eligible drugstore purchases and recurring bills, and…
  • 1% cash back on all other purchases.

As part of signing up, you’ll get 10% cash back on all purchases for the first 3 months (up to $2,000 spent.) That’s worth roughly $160 in extra cash back.

If gas and groceries are some of your biggest expenses, there is no question that this card would be a great addition to your wallet.

And for a limited time, Scotia is waiving the annual fee for the first year. So now is the perfect time to try this card out.

It is important to keep in mind, however, that you will only get your cash back once a year as a statement credit. However, if you're spending $2,000 a month in those categories, you're going to be earning $960 in cash back – that is a pretty sweet deal.

As if that wasn't enough, this card will give you credit card concierge service, Visa Infinite perks, and a pretty solid insurance package.

Scotia Momentum Visa Infinite insurance

Long story short, this is a very solid cash back card, especially if gas and groceries are some of your biggest expenses.

The downsides? As a Visa Infinite card there is a pretty high minimum income requirement attached. However, if you are able to meet the 60K personal or 100K household income, it’s a no-brainer.

Also, this card will only give you 1% cash back on anything outside of gas, groceries, drugstore purchases, and recurring bills, so if most of your spending is outside these categories, you may want to consider one of the cards below.

Why You Want It:

  • 10% cash back on all purchases for the first 3 months (up to $2,000 spent).
  • 4% cash back on gas and groceries.
  • 2% cash back on drugstore purchases and recurring bills.
  • 1% cash back on all other purchases.
  • 9 different types of travel and purchases insurance.
  • Visa Infinite benefits and perks.
  • Concierge Service.
  • First year free.

Apply Now

2) SimplyCash Preferred Card from American Express

SimplyCash Preferred Card from American Express

The SimplyCash Preferred Card from American Express is another card that gives you a flat 2% cash back on all purchases with no caps or limits.

On top of that, it has one of the best sign up bonuses of any cash back credit card – 5% cash back on all purchases for the first 6 months (up to $300 earned). Assuming you spend $6,000 in the first 6 months, you will earn the full $300, subtract the 2% you would normally earn, and you have a bonus of $180:

$6,000 * 2% = $120

$300 - $120 = $180 bonus

That’s an extra $180 just for signing up and using your card. Or $300 if you don’t have a cash back card that already earns you 2% now!

And if insurance is important to you, here’s a list of insurance coverages that comes with the card:

SimplyCash Preferred Card from American Express insurance coverage

Why You Want It:

  • 5% cash back on all purchases for the first 6 months (capped at $300).
  • No limits, tiers, or restrictions on how much money you can earn outside of the first 6 months $300 cap.
  • Decent insurance package for a cash back card.
  • Great perks like Amex Invites and Front of the Line.
  • No charge for extra cardholders.

Apply Now

3) Rogers World Elite Mastercard

If you're looking for a premium cash back credit card, but you would rather not pay an annual fee, the Rogers World Elite Mastercard could be one worth considering.

This card will give you 1.75% back on your everyday purchase – with no limit on the amount of rewards you can earn.

Where this card really shines, however, is if you are a Rogers customer. This World Elite card will give you 2% back on all of your Rogers services and the rewards you earn can be used on your Rogers bills, purchases at Rogers and Rogers partners, or if you call customer service once a year, you can redeem your rewards as an annual statement credit.

Another thing that makes this card a stand out is the fact that you will earn 4% cash back on any purchases made outside of Canadian currency – so if you travel a lot (or even do a lot of online shopping), this card could be a good one to consider.

Add to that the 6 types of insurance you can get and this card is among the best no fee cards in Canada.

Rogers World Elite Mastercard Insurance

The downsides? The fact that you need to call customer service every year is something that might not be fun for most people, plus it could be a little hard to remember for some.

Plus, if you're not a Rogers customer, the 2% cash back on Rogers services is something that you won't ever be able to take advantage of.

Why You Want It:

  • 4% cash back on all purchases made in foreign currencies.
  • 2% cash back on all Rogers products and services.
  • 1.75% cash back on all other purchases.
  • $25 welcome bonus.
  • 6 types of travel and purchase insurance included.
  • One of the few World Elite cards in Canada with no annual fee.

Apply Now

What Matters To You?

I've broken down the top cards by popular features to help make the right choice based on your needs.

The Most Money In Your Wallet

If you're looking for a cash back credit card, then getting top dollar is probably pretty important. Flexibility, fees, income requirements, perks, and insurance may be a little lower on your priority list.

The Scotia Momentum Visa Infinite is also a solid choice. The 1% on regular purchases isn’t really something to brag about but it turns out a massive 4% bonus on gas and groceries really does lift the overall payout. A typical family spending $25,000 annually will earn net $407 in rewards annually.

Rewards Matched With Your Spending Habits

Many cards will give you bonus cash back in different popular spending categories like: gas, groceries, drugstore, bills, restaurants and travel. So, if you spend most of your money in one or two of these categories, then it could make a lot of sense to choose a card with a matching spending bonus.

For instance, the most popular high spending bonus card is the Scotia Momentum Visa Infinite. It gives you 4% cash back on gas and grocery purchases and 2% cash back on recurring monthly bills – a very rare bonus. If the majority of your spending is in these three categories, then this card will have you earning rewards quickly.

Notable mention: Although it didn’t make the top ten list, the Tangerine Money-Back Credit Card (ranked #18) is worth mentioning here as well. This card not only allows cardholders to earn extra rewards in up to 3 different categories, but it also allows you to choose which categories you want to earn 2% cash back in – then gives you the option to change those categories as your spending habits change. The kicker is that it doesn’t have an annual fee.

Low or No Annual Fees

Not sure if an annual fee is worth it? Simply take your annual rewards earned and subtract the annual fee to give you your net annual rewards. If your net annual rewards are higher with a fee-based card than a no-fee card, then the choice should be easy. (Please note: all the dollar values in my rankings already have the annual fee deducted.)

Annual fees aren't necessarily a bad thing, but there are some who are dead set against ever paying a fee. Fortunately, there are still some good no-fee options.

Check out my complete no fee cash back credit card rankings here.

Lower Minimum Income Needed

While most high ranking cards require anywhere from $35,000 to $80,000 in personal income to qualify, the SimplyCash Preferred from American Express (the #2 ranked card on our list), actually doesn’t have any minimum income requirement. So, it’s a pretty great option for anyone who doesn’t qualify for the other cards.

Another interesting choice is the Rogers Platinum Mastercard that has no set minimum – but that card only really shines if you have a Rogers or Fido service to pair with it.

Something to keep in mind: Minimum income requirements aren’t always set in stone. Sometimes you can still be approved for a card even if the minimum is higher than what you are currently earning. As long as you have good credit and a good payment history, they will often assess your application on a case by case basis. Your chances vary by bank – but if there's a card you really want – you can always cross your fingers and try.

Premium Perks And Insurance

The Desjardins Odyssey Visa Infinite Privilege card has the best in class insurance package on the market. Coming out on top in 9 of the 11 insurances it includes plus all the Visa Infinite Privilege perks, it’s not hard to see why this card comes out as the clear winner.

The BMO CashBack World Elite Mastercard is another great choice when it comes to insurance. It offers 13 out of 16 different types of insurance – the most of any cash back card. Add on complimentary roadside assistance and concierge service and you've got a real winner.

Which One Will You Choose?

What are some of the main things you look for in a cash back credit card? Are there any features you just can’t live without?

Or perhaps you have a favorite cash back credit card in your wallet or maybe there is one that you tried, but didn’t like? Let me know in the comments.

Finally, always remember that letting credit cards with rewards entice you into much higher spending and debt is NEVER worth it. Please only apply for these cards if you plan to pay them off in full every month.

Disclosure: You should know that receives a referral fee for some credit cards listed; however, our unbiased algorithm dictates the results of our credit card rankings. You can trust that our rankings are strictly independent of compensation; here’s a more detailed disclosure on how HTS makes money.


Ernesto's picture

I agree the MBNA is the best cash back card. There is only one Annoying aspect, that might be considered minor to some, but for “heavy users” that track spending and download transactions on a regular basis, it gets important. MBNA does not allow you to download transactions as needed. You can only download your full monthly statement once is posted. That means if you have 80 transactions in one month you, have to categorize all of them at once, unless you type them in your finance software regularly. Could be an irrelevant issue to some, but I’m still surprised they don’t offer this functionality (as all other cards I have). I contacted them and they said there are no plans to include it.

October 29, 2015 @ 2:11 pm
Stephen Weyman
Stephen Weyman's picture

That's an interesting missing feature that I probably would have never discovered. I've never been one to download transactions myself (just too busy to track at that level of detail) and if I did, I probably would do it once a month. 

Thanks for pointing it out Ernesto, because I know there are a lot of people who rely on financial software to budget and manage their finances!

October 29, 2015 @ 3:25 pm
Richard's picture

I believe that the Rogers Platinum M-C has an advantage that needs to be underlined.
This card essentially charges no Foreign Exchange Rate by giving a 4% cash back on Foreign purchases(1.75% + 2.25%).
I would appreciate more feedback on the Foreign Exchange charges of most cards, and which do you find the most favorable to use while travelling.

March 22, 2017 @ 1:33 pm
Deborah 's picture

Richard, for foreign transactions I use the Chase Amazon Visa: no annual fee and no Fx charges. Purchases accrue points for credit at, nothing extraordinary but the absence of fees is the winner for me!

March 25, 2017 @ 8:48 pm
Ash's picture

Not Anymore. Chase pulling out the Amazon visa card. Do u have any alternative

January 20, 2018 @ 6:18 pm
Leanne Williston
Leanne Williston's picture

We actually posted a blog article about this on our other website, creditcardGenius. Hopefully you find it helpful. :) 

January 25, 2018 @ 2:07 pm
Miron's picture

Not anymore for quite some time... it is 2.5% and that's why they increased to 4% the cash back on Foreign purchases! Actually we get 4-2.5 = 1.5% cash back on Foreign purchases.

March 28, 2017 @ 11:26 am
dean's picture

Hi Steven:
I am also interested in credit cards that offer rewards specifically for US dollar currency exchanges into Canadian funds.
It appears that Rogers Platinum M_C is the preferred option. Please advise if there are cards that are preferable.

Thank you for \work it is appreciated:

October 16, 2017 @ 12:19 pm
Leanne Williston
Leanne Williston's picture

Hello Dean, 

Rogers Platinum Mastercard or Rogers Fido Mastercard would be the two cards that we would suggest if you are looking for a card that rewards you for your foreign transactions. Both cards give you 4% cash back on purchases made in foreign currency.   The Fido Mastercard has no annual fee, gives you a $50 sign up bonus, and 1.5% cash back on all your other purchases. The Rogers Platinum, however, gives you 1.75% back on all your other purchases, but only gives you a $25 sign up bonus and has a $29 annual fee (if you are not a Rogers customer).   Just remember with both cards you need to call customer service once a year to have your rewards given to you as a statement credit (if you don't want to use them for Rogers products). 

Hope that helps. :) 

October 16, 2017 @ 4:50 pm
John Benson
John Benson's picture

3% now. and 1.75% became 1.25% !!!

April 05, 2018 @ 4:36 pm
Nick's picture


I am considering the MBNA World Elite Cash back card, but the ability to download my raw statement data into a financial program (ie: Quicken, Mint, YNAB) is a huge deal breaker. I called MBNA today to see if this feature was available, and I was told that it was, however, the person on the phone didn't seem too sure or confident in their answer. Can anyone who has an online MBNA account confirm if this feature is available?

April 17, 2017 @ 6:04 pm
Bob's picture

I have the MBNA SmartCash VISA Infinite and can download into the Banktivity financial program. Just updated my account a minute ago.

April 17, 2018 @ 6:37 pm
No spam
No spam's picture

It all depends on what you spend on. Most of my purchases are for gas and groceries and I get 4% cash back on the visa momentum infinite which is way better than MBNA's 2%. I'm averaging $1200+/year cash back so far

November 04, 2015 @ 12:03 pm
Stephen Weyman
Stephen Weyman's picture

Yes, it does depend. On how much total spending are you earning that $1200 with? As long as you've crunched the numbers and you get a better average rate of return with the Scotia card, then of course you should choose it. You'd need $60,000 in spending to get $1,200 with the MBNA card (not accounting for the annual fee).

If you're doing  up near 50% of your total spending on gas, groceries, and bills, then the Scotia card can net you more money. However, you still have reduced flexibility and less insurance and perks to deal with. For instance, if you use the Price Protection feature on the MBNA card smartly, you can earn another $500 per year.

November 04, 2015 @ 2:12 pm
Sarah's picture

The only disadvantage of the Scotia Momentum Visa is that it doesn't include travel cancellation insurance. So if you travel, you are out of pocket that on each trip.

June 25, 2016 @ 9:37 pm
Stephen Weyman
Stephen Weyman's picture

There are several disadvantages:

  • Can only redeem cash once per year.
  • Can only redeem cash as a statement credit.
  • If you cancel before cashing out, you lose your entire balance.
  • You only get 1% cash on everyday purchases.
  • There is usually no sign up bonus and often the first year isn't free either.
  • Not accepted at Costco and soon Walmart (not a huge deal IMO - just use a no fee backup card).

It's definitely a very strong card, but there are some disadvantages.

June 26, 2016 @ 10:38 pm
Jane's picture

Actually, the cashback gets credited to your card and then gets debited and sent to your bank account; so you do realize the cash and it adds up quickly. I pay all my bills on my Visa Momentum, phone bill, insurance etc.

January 16, 2018 @ 11:18 pm
marks's picture

@ 4% that's about $30,000. You're spending that much on grocery and gas?

June 29, 2016 @ 8:02 pm
Stephen Weyman
Stephen Weyman's picture

I think he means $1,200 total across all spending categories. He didn't specify how much of the $1,200 is from gas and groceries.

June 30, 2016 @ 2:20 pm
Jeremy's picture

Brilliant tip! I was considering the MBNA card until I read this comment. I track my expenses diligently to the penny and download transactions every weekend. Not being able to do that is a deal-breaker. I would rather spend 20 minutes per week doing it than one hour once per month. Thanks for the heads up!

June 25, 2016 @ 12:32 am
nadeem's picture

Copy and paste into excel

June 29, 2016 @ 5:34 pm
Jean's picture

MBNA has many drawbacks. Firstly all extra cards issued have the same number. This also means you can't track which spending goes to each card. It also means that if you gave a card to your university-bound child and they lose it while you're in France, all cards need to be cancelled. Or if a question is asked about unusual spending patterns ,you can't ID the culprit or if it's logical.
With the algorithms that spot unusual spending at Mastercard how are cards in four different hands supposed to be managed if they don't have different numbers like other providers do?
Their website doesn't even show who you issued cards to. So when your power-of -attorney or just plain forgetfullness kicks in you can't manage the pretty useless site.
If you like to manage personal business and personal expenses on different cards ,forget it.

So yes the rate is good, but the card is a LOT of work and you need a back-up card that actually works when there's a hiccup.

August 30, 2016 @ 2:27 pm
ken's picture

BMO World Elite Cash back master card doesn't cover trip cancellation. I booked a trip in July 2016 and I called to make sure trip cancellation was covered, the answer was card holder's policy was updated to remove trip cancellation

September 04, 2016 @ 3:15 pm
fbgcai's picture

go to "view account detail" on first page
highlight transaction(s) - copy paste - no problem :)
a bit more finicky but doable

could paste into a spreadsheet and then load to your software too

March 25, 2017 @ 12:11 pm
Glen's picture

I just read this whole blog which was very helpful in trying to make my decision on the best Canadian cashback card for me. However, one thing I did not see mentioned anywhere was the number of restaurants and grocery stores etc. that will not accept AMEX cards (and to some extent Visa cards). I had an AMEX Simply Cash card for a while but cancelled it due to the constant inconvenience of not being able to use it at a significant number of places - and now my main grocery store (No Frills) will not accept my Visa either. So I find myself feeling that some sort of a MasterCard product would be my best bet. I have the Capital One MC which I have to have for Costco but constantly bump into the monthly credit limit, which they refuse to raise for me. So I'd love to find a no-fee MasterCard that gives me 2% on the things the Capital One Costco MC doesn't.

November 19, 2017 @ 11:18 am
Barry Hennick
Barry Hennick's picture

I received a note from MBNA telling me that thIngs will change
September 1st.
fee from $89 to $120,
September 5th
Balance transfer rate from 21.99% to 22.99%
February 1, 2019
Rewards from 100 points per $1.00 to 120 points per $1.00
Minimum number of points to get a cash reward from 5,000 points to 6,000 points i.e. still $50 minimum
I think that I will be looking for a new card.

July 25, 2018 @ 1:07 am
HowToSaveMoney Team
HowToSaveMoney Team's picture

Definitely frustrating that we have yet another card being devalued.

We don't blame you for looking for another card... Thankfully there are still a few good ones out there. 

July 25, 2018 @ 9:29 am
James Hagerty
James Hagerty's picture

I just got the same notice from MBNA and that is why I'm on this site right now. Cash Back value has dropped to about 1.67%.

July 30, 2018 @ 11:29 pm
Ashlee's picture

Hi Stephen, another great post!

We finally got the VISA momentum last February and so far we have been happy with it.
Have you looked into Tangerine's upcoming cashback card? I am not sure if it would rank as high as the MBNA or Momentum cards but for people not wanting to pay an annual fee, it seems like it could be a good option. Any thoughts?

October 29, 2015 @ 3:39 pm
Stephen Weyman
Stephen Weyman's picture

EDIT: The Tangerine card is now included in the rankings.

I haven't covered the new Tangerine card in these rankings because it hasn't officially been released yet but I have looked into it. It is definitely going to be a strong contender and probably the top no-fee cash back credit card. I don't believe it will be able to outpace the top cards listed here though except for very low spenders.

The 2% cash back covers the $89 annual fee after only $4,450 in spending on the MBNA Rewards World Elite, then you get your full 2% cash back from then on. Or, if your no-fee cash back card is earning you an average of 1.25% after you take spending bonuses into account, then you would start earning more cash back after spending $11,877 in a year. That's only $989 a month, which most families can spend VERY easily.

Not to mention all the amazing perks you get with a World Elite card that can save you thousands of dollars a year in insurance costs and potential losses (if you didn't have insurance).

October 29, 2015 @ 3:50 pm
Ken's picture

Seems Tangerine is changing their card as of April. All 1% purchases are now only .5%. The 2% categories stay the same, but they are also increasing the foreign exhange from 1.5% to 2.5%. Seems many will have to re-evaluate what card to use. Me being one, its been the only card I have been using since last May, just because I was sick of carrying around different cards to maximize cash payout.

What ones do you recommend now?

March 24, 2017 @ 1:36 pm
Stephen Weyman
Stephen Weyman's picture

That's a major bummer Ken! I'm going to be publishing my no annual fee cash back rankings next Tuesday. The Tangerine card as-is will still come out as the #1 card, but it won't be any longer when the changes come into effect late April.

If you want a no-fee card, you can just fall back to the #2 card which is the Amex Simply Cash and combine it with the Tangerine card's 2% categories to maximize your cash.

March 24, 2017 @ 2:15 pm
Amine's picture

What about Fido Master Card ?
I think that it's a strong alternative with its 1.5% CB to the Tangerine .5% CB. Using 2% Tangerine categories and Fido 1.5%. What do you think about it ?

March 25, 2017 @ 9:46 pm
Vito's picture

I second this question. I was thinking of getting Tangerine, but now not sure with the changes, but I was also thinking of Amazon VISA just to avoid the Fx fee, but after discovering it is closed to new applicants and then discovering FIDO MC, I think its much better than the Amazon VISA since the net cash back on Fx is better and there is no annual fee.

So now I'm debating to get either Tangerine + FIDO MC or Amex Simply Cash card + FIDO MC.


June 18, 2017 @ 2:43 am
Leanne Williston
Leanne Williston's picture

We consider Rogers Fido Mastercard and the Simply Cash Card from American Express to be two of the best No Fee cash back cards you can get. The straight 1.5% and 1.25% that you get back respectively makes these two cards really stand out for us. 

That being said, it really comes down to how much you spend, and what you're spending on. If you wanted to enter your spending info into our spending calculator (found here), you could find out which two cards really would be the best no fee cash back cards for you! :) 

August 16, 2017 @ 12:22 pm
Daniel @'s picture

Good to know, Stephen! Great post as always!

I'll keep an eye on this new king as my Scotia first year will come to a close. But I must say that it's hard to beat the 4% at groceries (the biggest expense we have besides rent), even if we don't have a car.


October 29, 2015 @ 4:36 pm
Stephen Weyman
Stephen Weyman's picture

Depends on your spending habits. We buy so much of our produce from farmers, costco, and from oddball stores that probably aren't even categorized properly that it would be hard to get much bonus cash back even though we do spend a lot of money on food.

October 29, 2015 @ 4:41 pm
Patrick's picture

Hi Stephen,
What do you think about the ATB Platinum Cash Rewards World MasterCard
"3% cash back on everything you buy at supermarkets, drug stores, gas stations, and home improvement stores"
The $120 annual fee is waived if you have the ATB Advantage account.

October 29, 2015 @ 4:44 pm
Stephen Weyman
Stephen Weyman's picture

That's definitely a good looking option Patrick. I considered nearly 40 credit cards when doing this analysis but that one escaped me because it is offered by ATB, which I believe is an Alberta credit union. I just tried to do a test application for it online and it only allows people who reside in Alberta to apply so it wouldn't be applicable to most Canadians.

In any case, I think the Scotia Momentum Visa Infinite is better in most respects because it has a lower annual fee and a higher percentage on gas and groceries. The only major benefit here would be at drugstores. However, if you can get the annual fee waived because you are using the ATB Advantage account anyway, then I think it is probably a no-brainer to get this card along with it.

October 29, 2015 @ 4:53 pm
Doris Ryan
Doris Ryan's picture

Good information and advice, as always, Stephen. One point not yet mentioned is what my bank manager informed me of recently. She said every time an application for a credit card is made, one's credit rating goes down. I already have 3 different cards, one being the MBNA smart cashback along with 2 visas which are paid off monthly. I would definitely hesitate to apply for yet another. What are your thoughts on this?


October 29, 2015 @ 10:08 pm
Stephen Weyman
Stephen Weyman's picture

Yes, every time you apply for a credit card it does have a (short) negative impact on your credit score. It does bounce back quite quickly. I'm not a true expert on credit scores, but I have done a lot of reading online and in forums about them.

What I do know is this: 3 credit cards is certainly not considered to be a lot. There are people who are very serious about collecting points and credit cards that have more than a dozen and still have excellent credit ratings. What matters is the following:

  • Don't apply for too many in a short period of time (I like to limit myself to 2 a year, but there are many people who do way more) so it looks like you are chasing credit and might be a flight or default risk.
  • Keep your old cards as long as possible without cancelling them (unless they have a fee) so that your average credit age is longer, which increases your score.
  • Always pay at least the minimum payment on time (I say pay it all off every month though!).
  • Keep your credit utilization ratio low overall and on a per-card basis. That means if you have $20,000 in total credit, you shouldn't be using more than a third of it at a given time (so about $7,000). Paying down your credit cards multiple times a month makes this much easier to do.
  • Don't have way too much credit. If you have $100,000+ of available unused credit, this can look pretty scary to lenders because you could charge a huge amount all at once and run, or get yourself underwater and go bankrupt. If this happens, simply call your lenders and ask that your limits be lowered or cancel some newer cards you no longer need with higher credit limits.
  • Don't apply for a bunch of cards near to when you will need an important loan like a mortgage. If you know you're going to be getting a new mortgage or renewing your mortgage soon, I'd definitely scale back on the credit card applications and look at lowering your available credit to reasonable levels

I really do need to get on to writing an in-depth article on this subject because I talk about credit cards so often. I'll need to interview some real credit experts before I'm comfortable that I will be giving people 100% accurate information though.

October 30, 2015 @ 10:03 am
Mark's picture

Hi Stephen...thanks for this valuable information!

Regarding the 2nd last point of not having too much unused credit......does that include available line of credits, or just available credit from credit cards? Just want to clarify. Thanks again!

November 22, 2015 @ 2:53 pm
Stephen Weyman
Stephen Weyman's picture

I would imagine it would depend on if the line of credit is secured or unsecured. Unsecured LoCs are just as dangerous as unused credit card limits to lenders for sure. Secured loans like a home equity line of credit (HELOC), is probably considered to be safer because they know your house (or whatever collateral you used) will cover you if you default on that loan.

I had a HELOC that gave me about $80,000 in available credit for about 5 years. After getting it, it did seem like credit card lenders gave me more conservative credit limits than before I had it. I was never declined for a new loan and my credit score remained pretty good throughout the time that I had it, but I think it did rise some after I get rid of it.

November 23, 2015 @ 8:49 am
Anthony's picture

Any thoughts on the PCF World Elite Mastercard? We were recently upgraded, and think some of the new benefits, like car rental insurance, are pretty good for a no-fee card.

November 18, 2015 @ 5:52 pm
Stephen Weyman
Stephen Weyman's picture

It isn't a terrible card Anthony, especially if you buy your groceries exclusively at Loblaws grocery stores and your drugstore is already Shoppers Drug Mart. The 3% return is nice in that case. Then, the concierge service, rental car coverage, and medical insurance are pretty nice for a no-fee card.

However, qualifying for a World Elite card will be difficult for some and the MBNA and Capital One cards have much better insurance coverage overall and they are no-fee cards as well. In terms of rankings, it fell just outside the top 10 at number 12 out of 28 total cards considered in my no-fee credit card rankings found here.

I still think most of the cards with annual fees listed here are way better if you have the spending to maximize your cash back.

November 18, 2015 @ 10:38 pm
Megan's picture

Interesting article. You never mentioned the new Costco Cashback MasterCard. What do you think of it?

November 23, 2015 @ 1:07 pm
Stephen Weyman
Stephen Weyman's picture

It isn't good enough to make this list Megan, but it was included in the 38 cash back credit cards I considered for these rankings. It came in at #19, but I only included the top 10 in this article.

If you check out the No Fee rankings (linked in a comment just above yours), you will see that it comes in at #8 in those rankings.

November 24, 2015 @ 9:09 am
Jason's picture


You should check out the new Rogers MasterCard - it would be your #3 ranked card over $36,000 spend, and #1 up to $36,000. It has no annual charge if you pay your Rogers bill on it, and it is 1.75% cash back no limit.

November 26, 2015 @ 7:52 pm
Stephen Weyman
Stephen Weyman's picture

Hi Jason, actually I did consider the Rogers MasterCard in my rankings. It isn't a true cash back credit card because the "cash" you earn can only be spent on Rogers products and services. That may make sense for some, but definitely not for all. It forces Rogers loyalty for one, which could be a money losing proposition.

I evaluate these cards on a lot of criteria, not just the amount of cash back they offer including the flexibility you have with your cash, what kind of free insurance coverage they offer, and what other perks they give you. This card did terrible in the flexibility and insurance categories. It came in ranked 17 of 38 overall.

November 27, 2015 @ 11:25 am
Jason's picture

Hi Stephen,

I agree with you it's for people who use Rogers anyway and aren't leaving ie. for cable, internet etc. One good thing it has, as do some of the other cards, is that you can redeem your points/dollars on a monthly basis if you have a recurring Rogers bill. Some of the other cards only give you your cash back annually, like the TD Visa Gold 1% cash back that I'm hardly using anymore (though that has good car rental insurance etc)..

November 27, 2015 @ 4:10 pm
Stephen Weyman
Stephen Weyman's picture

Yes, absolutely that is a definite plus. I think it is a really good card for people who are always going to be Rogers customers and only care about their cash back rate of return because the 1.75% with no annual fee is pretty nice.

November 30, 2015 @ 9:41 am
Mark's picture

Hi Stephen

I just want to point out that it seems you can get a yearly statement credit by calling Rogers Bank with the Rogers Platinum MasterCard. If you scroll to the bottom of their web page, under point #2...

”You can redeem points towards an eligible purchase made with your Rogers Platinum MasterCard® equal to or greater than $20.00 and up to the full transaction amount, or the cash value of your rewards balance, whichever is less. Or, you can contact Rogers Bank once per year to receive an annual statement credit for the value of the rewards you have earned during that period.......”

I did call Rogers Bank to clarify and the customer service representative did confirm to me that is the case, which is you can redeem the cash back points towards your MasterCard statement once a year. In terms of flexibility it isn't that great as it is once a year for redeeming the cash back, but at 1.75% return, it doesn't seem so bad even if one does not use Rogers services and have to pay the $29 annual fee.

December 04, 2015 @ 10:00 pm
Stephen Weyman
Stephen Weyman's picture

That is a great piece of information Mark and will definitely help this card shoot up the rankings a fair bit. I don't have time to reevaluate everything right now, but anyone reading these comments should know that a 1.75% return at no annual fee is really good if you can truly redeem it for cash back.

I don't think I can truly consider this to be a no-fee card because you have to be a Rogers customer to make it so, but $29 is a very low annual fee for 1.75%.

December 07, 2015 @ 10:00 am
Mel 's picture

I have just applied and been approved for the Rogers card. My main motivation was the savings on US dollar purchases which has been a bug in my Alaska Airlines Mastercard. It means the exchange fee is non existent now.
Alaska is also a good one with a companion flight for $99 once a year. My wife and I are going to Hawaii in November and the total for two flights was $1468.00. Then I used points to get a one way from Hawaii for my granddaughter that cost $158.

August 04, 2017 @ 5:57 pm
A tech guy in BC
A tech guy in BC's picture

Small correction - with Rogers Mastercard, instead of paying for Rogers services, you can request a cash payout once a year on your anniversary, so it is a true cash-back card.

Also, unlike most cards, Rogers MC has the advantage of it not dinging you an extra 2.5 cents on your exchange rate if you shop in USA (where gas is still a lot cheaper in spite of the low Canadian dollar). That is no small potatoes.

Finally, it also requires a lower financial threshold (only $15K annually minimum salary) to apply for it, so it is accessible to less affluent Canadians.

March 17, 2016 @ 2:13 am
A tech guy in BC
A tech guy in BC's picture

I misspoke - you do not get a cash payout, you get a bill credit.

March 17, 2016 @ 2:20 am
Amine's picture

Don't sound true : "Reddem : Min. $20 spend up to lesser of transaction amount, or cash value of rewards balance. Or, contact Rogers Bank once per year to receive statement credit for value of rewards earned."

March 25, 2017 @ 10:57 pm
pat duiker
pat duiker's picture

My Rogers Mastercard cash back is credited to my card balance every January. It does not have to be used for Rogers services. You seem to be anti Rogers most times. Why??

March 13, 2018 @ 5:23 pm
Melwyn Miranda
Melwyn Miranda's picture

Hi Stephen

CIBC has an interesting promo on their Visa Infinite where its gives you 4% cashback on ALL purchases up to $5000 made for the first 6 months. Comparing this to other cash back cards you get 4% only on gas and groceries.

February 05, 2016 @ 11:46 am
Stephen Weyman
Stephen Weyman's picture

That's not a bad promo Melwyn, works out to $200 cash back if you spend the full $5000, pretty easy. However, the Amex SimplyCash Preferred listed above always gives you 5% cash back on ALL purchases for the first 6 months and has a higher cap. I believe the max bonus you can get is $400 cash back (so double). Don't have to wait for a promo period to get that either.

Unfortunately annual fee is not waived for the first year like with the CIBC card right now though. It also looks like the they are matching the Scotia Momentum Visa Infinite now with 4% cash back on gas and groceries. Looks like the CIBC card has become a much better contender again.

February 05, 2016 @ 10:56 pm
Gilles's picture

What some people may not realize, with the Scotia momentum Visa, is that grocery stores & gas stations sell GIFT CARDS to almost all other retailers.... So... example, if I walk into Canadian tire and spend $100 I get 1% Now, if I go to the Canadian Tire gas bar and buy a Canadian Tire Gift Card for $100 I now get 4% cash back. I now maximize almost ALL my purchases to 4%. Same when we go clothes shopping, we get gift cards and voila,!!!! 4% CB. Same when eating out at restaurants, or Tim Horton cards, etc..

Well worth the extra planning.

February 05, 2016 @ 8:08 pm
Stephen Weyman
Stephen Weyman's picture

Yes, that's absolutely true Gilles. It isn't mentioned in this article but that is definitely something I've done myself many times (with the Smart Cash when it gave 3% at gas and grocery stores). The only trouble is you end up having to manage a lot of gift cards and worry about losing them or getting them stolen. Great way to increase your cash back though.

February 05, 2016 @ 10:58 pm
penelope's picture

so help me understand, this sounds get the 4% because the purchase of the gift card was made at a gas station, and that category gets 4 instead of 1?

December 10, 2016 @ 10:11 pm
Nizar's picture

I think there's no big difference between CIBC dividend visa infinite and Scotia momentum visa infinite.

What do you think Stephen?

February 26, 2016 @ 2:14 am
Stephen Weyman
Stephen Weyman's picture

The recent changes they've made to the dividend card are very nice Nizar, but I would still favour the Scotia Momentum Visa Infinite because the 2% is on all recurring bill payments. That is likely to be a much higher amount than your Telus bill and Tim Horton's spending. Good alternative if you are already with CIBC and want to bank all in one place though.

February 27, 2016 @ 8:50 pm
Mark's picture

Hi Stephen

I just came across a relatively new credit card company that was launched mid 2015 by the name of Collabria. So far I determined (from internet searches) that they are offering their credit cards thru DUCA (VISA) and Kawartha Credit Union (MasterCard). Their no fee cash back credit cards (MasterCard and VISA) offers 2% cash back on gas and 1% for everything else which is quite decent (especially for a no fee VISA...MasterCard tend to have better rates). What I really like is that you can redeem the cash back towards your statement at anytime with no minimums. That's very flexible. From their webpage......"Use your points right away or build them up. 1 point equals 1% cash back!"

Also, I copied and paste the cash back rewards summary for their no fee MC and VISA below.

-Earn 1 point for every $1 spent on everyday purchases
-Earn DOUBLE points on dollars spent at gas stations
-1 point equals 1% cash back

Have you heard of Collabria? And if you have, what are your thoughts on them?


March 18, 2016 @ 2:19 pm
Stephen Weyman
Stephen Weyman's picture

First I've heard of them - thanks for the heads up Mark.

March 18, 2016 @ 3:18 pm
Mark's picture

Hi Stephen

I also want to point out that you DO NOT have to be a member of Collabria's affiliated credit union to apply for these credit cards. I am not a member of their affiliated credit unions (I live in Alberta...DUCA and Kawartha are Ontario credit unions), but I was able to apply this past weekend and subsequently approved early this week. I just want to clarify that anyone can apply for these cards and not just members of their affiliated credit unions. Thank you.


March 18, 2016 @ 6:50 pm
Stephen Weyman
Stephen Weyman's picture

Good to know - I will be factoring them into my rankings next time I do an update.

March 18, 2016 @ 11:07 pm
Urmila Karki
Urmila Karki's picture

Hi Stephen

Thank you very much for your analysis among the popular cash back credit card. I have a Scotia Momentum Visa Infinite for more than a year. I am not happy with that card. So I am planning to cancel that card. However I do not have an idea about the impact on my credit score if I cancel the card after cleared all my balance due on that card.

According to your analysis the MBNA Rewards World Elite MasterCard is the best because it pays 2% straight on any purchases, annual fee is less than Visa Momentum and give $100 sign up bonus, give extra card to family members free,no limits on how much cash you can earn, I can redeem my cash any time I want etc which vis momentum does not have that type of benefits.

So Can I cancel the Scotia Momentum Visa Infinite credit card without affecting my credit score after cleared all my balance due?

Thank you


April 12, 2016 @ 9:06 pm
Stephen Weyman
Stephen Weyman's picture

Any time you cancel a credit card it will affect your score negatively in the short term, but not by very much. If you rarely cancel and apply for new cards then you will be completely fine and I wouldn't worry about it at all. However, if you apply for and cancel cards all the time, you would have reason for concern.

It's good to hang on to at least one older no-fee card and keep it active to increase the average age of your credit accounts which does help your score a little. However, I wouldn't recommend doing this with a card that has an annual fee because it just isn't worth it.

April 13, 2016 @ 4:53 pm
thaismomma's picture

How was BMO Cashback World Elite's Perks calculated at a rating of only a 2.1 if they're the only one with roadside assistance?

April 13, 2016 @ 11:41 am
Stephen Weyman
Stephen Weyman's picture

There a lot of perks considered that are mostly related to sign up bonus, how cash back is paid out, how flexible the card is, etc. The roadside assistance is counted as a major perk for the card, but it doesn't have a lot of the other cash back related perks, hence the 2.1 rating. This is a fairly substantial perk though, so for those who would get a lot of value out of it, that card is definitely a very strong contender.

April 13, 2016 @ 4:51 pm
scor's picture

Please check the MBNA perks, it does have a lot of the perks like Purchase Assurance, Extended Warranty Benefits, and Price Protection similar to the BMO card (though no travel and no roadside assistance).

April 13, 2016 @ 12:00 pm
Stephen Weyman
Stephen Weyman's picture

Yes, every single one of those perks was considered in these rankings. They aren't all listed here, but they are all included one by one in my ranking system. I have to condense things down to make it easy for people to read and understand otherwise it would just be too massive and confusing.

April 13, 2016 @ 4:54 pm
Roger Clarke
Roger Clarke's picture

My wife and I "share" a Scotia Momentum Visa Infinite card; for the first several years I "requested" our $129 fee [combined] be waived [by the branch manager] and it was. Then, last year the fee was automatically waived which saved the begging aspect. We consistently get at least over a grand back each year. Groceries at 4% are big plus, whereas being retired, gas is not significant. We also have a US funds Visa but it pays no rebate which is fine as we use it for just a few weeks annually.

May 06, 2016 @ 11:58 pm
Stephen Weyman
Stephen Weyman's picture

That's great that you've been able to get them to waive the fee each year! Sometimes they will do that but I'm surprised they have done it for you every year. I have an article coming out on that subject pretty soon actually.

May 09, 2016 @ 9:44 am
Charlene's picture

They will do that if you are a "high net worth customer" and it's a perk if they want to keep you.

March 14, 2018 @ 2:16 pm
Lynda's picture

As it is now mid July I was wondering if there is anything new to report on credit card offerings. Also I am looking for a card that will pay the best rate on the periodic purchase in a large quantity from the US that we make for our home-based business.

July 14, 2016 @ 5:53 pm
Stephen Weyman
Stephen Weyman's picture

The Rogers MasterCard is your best best because you also avoid the 2.5% currency exchange fee with that card.

July 15, 2016 @ 10:13 am
Tech Guy in BC
Tech Guy in BC's picture

Hi Stephen,

For Foreign travelers, Rogers is about to really sweeten the pot. Not only do you get your purchases at the straight exchange rate (instead of getting dinged 2.5 cents) but they are now increasing the reward on foreign purchases to a whopping 4%.

From the Rogers Bank site:


Foreign Currency Transactions

Coming soon: Earn 4% on purchases made in a foreign currency*

Great news! We’ve made the Rogers Platinum MasterCard® more rewarding. Starting August 17 you will be able to earn 4% cash back rewards on all your purchases made in a foreign currency – whether your purchase is made online or while travelling overseas. It’s the simple way to earn rewards faster when you travel and shop – with no caps or limits.

*On eligible purchases if account in good standing. Not applicable to cash advances, balance transfers, fees, interest, returns or payments. Cash back rewards earned based on purchase price only (excluding any associated transaction fees). Transactions billed in Canadian currency. Foreign currency transactions are converted to Canadian dollars at the MasterCard International rate on the date the transaction is posted. The rate applied to debits will be different than the rate applied to credits (rates established by MasterCard International and subject to change from time to time).


I found the info by going to the Rogers bank site, clicking on "rewards" menu item at the top, Select "Rogers Platinum Mastercard", and then click "Features and benefits".

August 14, 2016 @ 11:03 am
Stephen Weyman
Stephen Weyman's picture

I did hear about this first from a blogger friend recently actually. It seems they are actually changing this to 4% as a replacement for the previous waived foreign transaction fee. The reason they are doing so is because most people don't even understand what a foreign currency transaction fee is and don't even know they are charged it.

By changing the marketing language to "4% on foreign currency transactions" it makes more sense to most people I guess. So in reality they are reducing the savings by .25% and making you wait until you can redeem your points for cash to get the bonus. With the 2.5% savings the total reward was 4.25% and you got the 2.5% savings instantly as opposed to having to wait.

August 15, 2016 @ 10:24 pm
A tech guy in BC
A tech guy in BC's picture

Hi Stephen,

I went back and checked the page where the 4% was advertised. It clearly states: "Foreign currency transactions are converted to Canadian dollars at the MasterCard International rate on the date the transaction is posted." I called Rogers Bank to confirm, and here is the scoop. They told me that the 4% went into effect last week and straight exchange rate will remain in effect until October 19, 2016.

So until that date, Rogers Bank card customers will get the double benefit. From October 20, 2016 and following, the 2.5% "penalty" will be in effect. I may be adjusting the timing for any major purchases I make state-side. :)

Thanks again for all the awesome info on your blog. A truly invaluable resource!

Tech Guy in BC

August 24, 2016 @ 7:17 pm
Ken's picture

" If your family spends a reasonable $25,000 annually on credit".... Really? Not even close to putting $2,000 PER MONTH on my credit card.

July 23, 2016 @ 11:50 am
Stephen Weyman
Stephen Weyman's picture

Do you have a family of 4 or more? Are you funneling absolutely every purchase you can through the card? Do you shop a lot at farmers markets and other stores that don't accept credit cards?

Do you live in a place where you don't need a car perhaps and the associated gas and expenses that go with that?

Do you live in a smaller community where wages and cost of living are lower?

Not everyone can reach $2,000 per month for sure, but I think a middle class Canadian family of 4 can get pretty close to this averaged throughout the full year.

July 23, 2016 @ 10:38 pm
Georgia's picture

Hi Stephen,

Thanks for the info! What's your opinion on the PC Financial Mastercard for a family that shops a lot at Superstore and also needs a Mastercard for use at Costco.

July 30, 2016 @ 11:41 am
Stephen Weyman
Stephen Weyman's picture

It's a good no-fee card, but not a top card. I recommend the Tangerine Money-Back MasterCard if you're looking for a top no-fee card.

If you spend a whole lot of money just on food and not much else, then the PC card would be a good choice if you can qualify for the World Elite version.

July 30, 2016 @ 3:40 pm
Mary's picture

Thanks for the info, I had Costco Capital one for more than a year it's no good card! I've cancelled it and am looking for a Master card just for the sake of Costco! (I have Scotia Momentum Visa for other groceries), I also have the PC World Elite master card, does it work to use at Costco? between PC and Tangerine from Costco shopping POV, which one is a better option?

February 27, 2017 @ 4:41 pm
Brad's picture

How strict are the credit card companies on minimum income? I make 60k (just under 100k family) and would like the mbna world elite. Is there a way to get around the minimum requirements? Thanks.

July 31, 2016 @ 10:46 am
Stephen Weyman
Stephen Weyman's picture

They aren't very strict at all most of the time. If you have a good credit history and are anywhere close on the income, they will most likely approve you. It isn't guaranteed, but there is no real harm in trying as the impact on your credit score is only minimal and temporary.

July 31, 2016 @ 3:38 pm
Marlon's picture

Hi Stephen,

Trying to decide which card to get.
MBNA Rewards World Elite MasterCard vs BMO CashBack World Elite MasterCard

I think if I start a BMO premium account to avoid the annual fee then BMO would be the top choice?
I will get
- 0.25 less cashback
- no annual fee to deduct from total cashback
- better insurance package minus price protection
- lounge access

Looking forward to your advice. Thanks.

August 21, 2016 @ 5:47 pm
Stephen Weyman
Stephen Weyman's picture

Yes, I completely agree. If you already want to have the BMO Premium account and hold the $5,000 to waive the fees for that - then it is the better choice because of the increased insurance and no annual fee. Go for it!

September 05, 2016 @ 12:41 pm
Val's picture

Currently have the Scotia Momentum Infinite Visa and Tangerine cashback MC, but feel like I could increase the cashback if I had the MBNA World Elite MC and get rid of the Momentum Visa. Our current spending is ~$1000 in grocery and gas combined and ~$2000+ in the other categories so I'd give up 2% on gas+groceries on $1000 but gain 1% on the other $2000. Anything in excess of the $2000 would only increase rewards - am I missing anything here? I'm aware MBNA card does not have the insurance benefits of the Momentum and there's other differences too

August 22, 2016 @ 2:36 am
Martin's picture

Has anyone used the almost new Myvanilla prepaid Master card that came out last year or this year? It is reloadable. If there is 7-11 stores in your area that also sell Petro Can gas, then that is the best way to maximize the Scotia momentum Visa Infinite cash back by combining the reward powers of Visa cash back & Petro points. You can even change all non gas $ grocery spendings to earn 4% or more rewards when combining the Visa cash back & Petro Can points.

August 23, 2016 @ 8:04 pm
Stephen Weyman
Stephen Weyman's picture

Not exactly sure what you are saying Martin. Are you saying use your Scotia Visa to buy or load the Myvanilla card at a gas or grocery store to earn 4% on that. Then you can use the Myvanilla card when making your regular purchases.

This could work in theory. There is the monthly fees and load fees to contend with but if you load large amounts at once (is there a maximum?) then theoretically you will come out ahead. There is also the problem that if you lose your Myvanilla card with a large balance on it, you're out a lot of money.

September 05, 2016 @ 12:47 pm
Stephen Weyman
Stephen Weyman's picture

Yes Val - this is a smart choice. As long as your gas/grocery isn't going to go much higher and a big portion of the $2,000 of other purchases are not recurring bills then you are either going to break even or come out ahead with MBNA. There's also the lower annual fee with MBNA, Price Protection, and the fact that they don't hold your cash back hostage for a once a year payment and take it all away if you cancel ahead of time.

September 05, 2016 @ 12:44 pm
Tom V
Tom V's picture

we are planning a trip to the us for four months .Which cash back credit card would you recommend? Thanks for your input.

September 11, 2016 @ 3:07 am
Stephen Weyman
Stephen Weyman's picture

If you're just talking about making purchases in the USA in foreign currency, then the Rogers Platinum MasterCard is the best. It gives 4% rewards on foreign currency purchases. If you don't want to worry about having a Rogers service or the once a year cash back with Rogers, then the Chase Visa that waived the foreign currency transaction fee (2.5%) is best.

September 12, 2016 @ 11:45 am
Dhruv D
Dhruv D's picture


We have been tightening the belt, so to speak, as far as our finances are concerned, and were wondering how recurring bills would factor into the cash back percentage at all. Say I wanted to pay for my mortgage through the credit card, would that be a possibility, or is it something that is expressly prohibited from cash back rewards?

Thank you.

September 20, 2016 @ 3:03 am
Stephen Weyman
Stephen Weyman's picture

It isn't expressly prohibited - the thing is that most companies that receive payments for major bills and services don't accept credit card because they don't want to pay the associated fees. If you convince them to let you do it, and they are coded correctly in the credit card system's database as a recurring bill merchant, then you will get the increased percentage.

September 20, 2016 @ 10:46 am
Dhruv D
Dhruv D's picture

Thank you for your response Stephen. I have two recurring bills (mortgages) that I currently am paying for, and any help that I can get in the form of cash back or anything else would be great. How would I check if the mortgages can be charged to the credit card? (Both the mortgage holders are big Canadian banks).

On a slightly separate topic, you mentioned in the comments section of another article that, generally speaking
AMEX Rewards > Aeroplan > Avios > Cash Back > Air Miles

I am currently torn between the following three:
MBNA World Elite MC
BMO World Elite MC
AMEX Gold Rewards

As to my personal situation currently, I do not travel a lot for work or personal trips (the past two months have been an exception as I have been to Mexico for a work week, Thunder Bay (yes, I know!) for another, and the Carolinas for another work week), but all of those were all paid by work. My personal travel averages about 2 trips every 3 years (for a family of 3) to India and back.

I must admit, I have not paid attention to Credit cards / points / rewards etc over my history as (a) I have always considered them as scams/waste of time, (b) I was cocky enough to think even a few dollars don't matter and (c) I don't ever carry balances

Having said that, I am not sure if I should get a Travel Rewards card, or a Cash back one. I traditionally have stayed away from fee cards, but some of the features and the rewards definitely trump the fees (so no problem paying decent fees). But I can't justify the Amex Platinum plus fees... :)

Apologies if this came out longer than intended, but I am definitely looking to shake up everything from my cell phone bills to credit cards to pretty much everything else, and I think this is a good place to start as any.

Thank you very much.

September 23, 2016 @ 4:38 pm
Stephen Weyman
Stephen Weyman's picture

You won't have any luck with your mortgages, so I wouldn't bother trying. Those payments are so large the banks definitely want to save the fees. They are the ultimate creators of fees after all - they aren't going to eat all those fees when they can avoid them :)

I'd say if you aren't much into travel that the MBNA Rewards World Elite would be the best choice. If you are a road warrior, the BMO CashBack World Elite might be a good option for the free roadside assistance.

September 24, 2016 @ 9:30 pm
NZGuy's picture

Posting my Rogers Platinum Mastercard vs Amazon Visa experience

Going overseas, applied for Rogers Platinum Mastercard online, no instant approval – application under review, called after 2 days – rep says card declined. Didn’t bother to ask “why?” – don’t like Rogers anyways

Equifax credit score 784 before decline

In spite of having read reviews like “tight with credit limits” and “lengthy authentication process”, decided to apply Amazon Visa. Instant approval – credit limit CAD 6000

October 26, 2016 @ 9:51 pm
Stephen Weyman
Stephen Weyman's picture

Thanks for sharing your experience. Since Rogers stopped waiving the foreign exchange fee and started giving extra rewards instead - I've stopped recommending that card as much. It's still a good deal - but I think people prefer to have the savings upfront instead of increased rewards.

November 01, 2016 @ 10:01 am
Simon Jacobs
Simon Jacobs's picture


I have been using Scotia Gold for many years now. It gives a straight 2% cash back that can be applied to anything. Full medical, travel, trip cancellation, auto insurance, doubling the warranty time of items purchased and 5% cash back on trips booked through the Scotia Travel Agent service, which also includes a free concierge service as well.

October 28, 2016 @ 4:07 pm
Simon Jacobs
Simon Jacobs's picture

I should have mentioned 'Scotia Gold Passport' Visa card

October 28, 2016 @ 4:12 pm
Stephen Weyman
Stephen Weyman's picture

Doesn't that card give 1 point per dollar spent. The Scotiabank website says that and also says that 100 points = $1 so that would be a 1% return on spending, not 2%.

November 01, 2016 @ 10:05 am
Igor's picture

Hi Stephen,

Thank you for your time and comments. Would you please recomend a Canadian Cash Back Credit Card for my situation:

I live by myself:

- I don't travel for work or personal trips, only once a year to Mexico or similar places, my trips are all inclusive.
- Montly shop at Costco, some health stores, Home depot (renovation and fixing a rental property)
- utilities bills
- Mortgage
- Gas
- car insurance

Thank you very much.

November 10, 2016 @ 4:26 pm
Stephen Weyman
Stephen Weyman's picture

MBNA Rewards World Elite if you spend more than $1500 per month. Tangerine Money-Back MasterCard if you spend less.

December 13, 2016 @ 12:11 pm
Brent's picture

I don't understand why the Capital One Aspire Travel World Elite MasterCard is showing in your chart as only giving 1.5% when I have the card and definitely receive 2%.

November 24, 2016 @ 4:45 pm
Stephen Weyman
Stephen Weyman's picture

Because this is a cash back card comparison. If you want actual cash back (statement credit) with the Capital One card they reduce the payout to 1.5% from 2%. If you use your points for travel purchases, you get the full 2%.

November 27, 2016 @ 3:35 pm
jeff's picture

Ah, I understand now why the Aspire is so low on the rankings. By my calculations, it was better than the MBNA one, but we do plan to use for travel rather than strictly cash back. Didn't realize it was a different payout. Thanks!

March 22, 2017 @ 12:39 pm
Mark C
Mark C's picture

We spend a lot at Costco - both groceries and gas. For cards that offer bonus earnings in selectable categories (like the Tangerine Cash Back Card), what category would Costco fall into? And would Costco gasoline fall under the same overall category or would that fall under a different category when it gets processed?

December 01, 2016 @ 11:27 am
Stephen Weyman
Stephen Weyman's picture

I'm not sure Costco fits into any category but I don't know for sure. Best to call customer service and ask them Mark. If anyone else knows, please chime in.

December 08, 2016 @ 9:39 pm
Mr. Cheap
Mr. Cheap's picture

Tangerine card is not for everyone. I applied and they gave me an approval for $10K. I phoned them to find out about Costco and Walmart. We spend a big chunk of grocery bill at Costco, and pick up the small stuff at Walmart grocery. We also buy all of our gas at Costco for 2 cars.. Tangerine told me that if I shop at Costco I would only get 1% and if I selected gas as one of my categories, I would still get 1% at Costco. That goes the same for Walmart grocery section. I would get only 1% because Walmart is considered as a warehouse like Costco.. Another thing I did not like is the limitation with Tangerine. You select 3 categories, so on you way back home from shopping at one of your 2% categories, you decide to stop at Home Depot or Lowes to buy an appliance or lumber, but wait, it was not one of you categories. So you have to drive home or pull over in a parking lot to access the Tangerine site to change you category to get the 2%.
It's a pain in the arse. I have the MBNA Elte and get 2% on everything, including on US purchases. The $89 I fee I pay is for my peace of mind.

December 24, 2016 @ 5:41 pm
Stephen Weyman
Stephen Weyman's picture

I agree the fee for the MBNA card is worth it. Tangerine is better for those who just can't stomach paying an annual fee for whatever reason or are low spenders.

January 02, 2017 @ 10:23 am
Brenda's picture

What is the best card for cash back rewards on reoccurring payments?

December 05, 2016 @ 12:22 pm
Stephen Weyman
Stephen Weyman's picture

MBNA Rewards World Elite - no other card tops 2% and you get 2% on all charges not just recurring payments with the MRWE.

December 08, 2016 @ 9:39 pm
Neu To Cash Back
Neu To Cash Back's picture

Hi Stephen,

We are both old school here at home. We JUST found out about cash back programs, as we are late to the game I suspect. We have both been using regular no fee credit cards (one with 5.7% low interest) and debit cards attached to chequing accounts. Apparently, this is the old school way of finances.

I just had a conversation with a branch manager asking her what happened to all the interest people used to get in savings accounts back in the day (70's - 90's) and she said that it has been replaced with 'cash back' 'points' programs.

We have always been taught to never put anything on a Visa unless you really needed to. However, apparently to actually get 'interest savings' these days, you have too. Is this correct?

We are just in the midst of doing a financial reboot and trying to decide which cash back credit card would make the most sense for us. I also know that Meridian Credit Union is also coming out with one in March but the details are minimal right now. Would you happen to have any more info on this card?

Also, if we do get a cash back card, how do we set up our finances so that we can really take advantage of it and how do we ensure it gets paid off each month without fail just incase something happens?

Would you know if there secure financial computer software out there that isn't an app (we don't ever put any financial info on our phones) whereby we can manage our monthly budget and manage our finances?


January 04, 2017 @ 6:19 pm
Stephen Weyman
Stephen Weyman's picture

I think the answer given to you by your branch manager is negligent. Credit card cash back has nothing to do with savings interest. Savings interest is low for a lot of economic factors. Debt rates are correspondingly low.

Cash back are rewards given to you for using a financial product. Credit Card issuers get a cut of every transaction made via credit card and give part of that back to you as rewards. Merchants get convenience and increase spending, credit card issues get their cut, and consumers also get increased convenience, rewards, and access to short term loans. In some cases the rewards you get can be worth MORE to you than what it costs the merchants in fees which is a really win-win-win scenario in my opinion.

It's up to you if you want to try and take advantage of them or not. If you are responsible, don't increase your spending, and pay of your credit card in full every month - then you are losing out by not taking advantage of them.

You can set up most credit cards with auto pay to make sure you don't miss payments. You just need to make sure the money is in your bank account on the payment date. I prefer to log in twice a month via online banking and just pay them manually.

If you check my sidebar, I have a free budget spreadsheet you can download for budgeting. I also hear You Need A Budget is really good budgeting software but I haven't used it myself.

January 10, 2017 @ 10:32 am
Neu To Cash Back
Neu To Cash Back's picture

Thank you Stephen. I appreciate your good advice. I did download your budget spreadsheet prior to my message to you, however, the challenge is, I am using a Mac and it doesn't have Microsoft office on it. I did download the Open Office program to help deal with the problems I have converting documents but it didn't convert your document well at all. It was an unfixable mess. I have also checked out the Budget online software you mentioned. I will try that in the interm.
Once I figure out our budget then I will choose one of the cards you listed. Taking in consideration Meridian's new Visa lineup as well. There might be a benefit with going with one of their cash back cards, but I won't know until it is officially launched and I can see what the details are. I hear there is mobile phone coverage, which might be good for us. I'm sure it will all be up to the details in the end.

January 16, 2017 @ 7:09 pm
B Belanger
B Belanger's picture

Hi Stephen, I just wanted to point out that the travel medical insurance is only applicable to age 65. Customers need to be aware of the age limit before choosing a credit card based on insurance coverage, especially for travelling seniors.

January 20, 2017 @ 12:36 am
Stephen Weyman
Stephen Weyman's picture

True, on some cards it stops at 65. On others it just gets reduced some but is still available.

January 23, 2017 @ 10:18 am
Tech Guy in BC
Tech Guy in BC's picture

Hi Stephen,

I can't find where, but in some comment area on your blog you asked me to relate my experience in getting my Rogers Mastercard annual balance payout of my accumulated credit. I phoned the request in during my December billing cycle, as was the process. I was informed that the note had been put on my account and that the credit would appear on my bill in late January. Sure enough, the credit was there as promised, which was nice timing as it was nice chunk of change to help offset the Christmas bills. Pretty painless.

That being said, in my year with the Rogers MasterCard, I have discovered a couple of drawbacks.

First is the low spending limit. I received a mild increase when I requested one but they won't go any higher, at least not at this point. Even after the increase, the limit is still less than half of either of my other two credit cards.

The second issue is that they charge you a $29 fee if you go over your credit limit. I have never heard of such a practice prior to this. My Christmas spending plus a car repair put me a little bit over my limit, but I didn't think anything of it until I saw the charge on my statement. They waived it when I called in and inquired. Is this a usual practice? In the past, my other cards would have been declined or sometimes they automatically increased my limit. This is the first time I have seem this.

Anyhow, all that to say, getting my bill credit was rather painless. Not so much for a friend of mine who forgot to call in and has to wait another year.

So Rogers Mastercard is OK with the above caveats, but I am going to give the Tangerine MasterCard a try next. Getting 2% on my choice of categories, no annual fee, and accumulated credit paid out monthly makes for an attractive option.

Tech Guy in BC

March 05, 2017 @ 12:40 am
Stephen Weyman
Stephen Weyman's picture

That's great information, thanks! Glad to hear the annual credit works well if you don't want to use your cash to pay for a Rogers affiliated bill or service.

Yes, it is pretty normal practice for a credit card to have an "over limit fee" stated somewhere in the terms but my experience has been that most of the time they don't actually charge you for it. Most times my card is either declined or they just accept the transaction anyway. It may just be that I always pay down the card before they have time to process the over limit fee, I'm not sure, but I don't think I've ever been dinged for it. I've only gone over my limit a handful of times lifetime though.

If the extra flexibility is something you want, the Tangerine card will provide a lot more than Rogers for sure.

March 21, 2017 @ 9:21 am
Gabe's picture

I'm looking to switch to the MBNA card. Any chance of canceling my Momentum Visa Infinite now and still receiving the cash back I've earned? I get my cash back in November.

March 21, 2017 @ 10:55 am
Stephen Weyman
Stephen Weyman's picture

No unfortunately they don't do that. If you really begged you might get lucky, but I doubt it.

However, you can keep the card until November, pay the annual fee whenever it is due, and then request a pro-rated annual fee refund when you cancel after getting your cash back. That shouldn't be a problem.

March 21, 2017 @ 12:05 pm
Daniel's picture

Hi Stephen, it's good to see all this info gathered in one place. Thank you for the effort. I do agree with your ranking but the truth is every one has different circumstances. I consider the best card to be capital one aspire travel. Why? Two details that might apply only to a limited subset of Canadians. For one, I was lucky to get it a few years back when they were offering an annual bonus of 10k points - that's $100 which almost offsets the annual fee, on a recurring basis. Basically, the card costs me $20 yearly, including my wife's additional card. And second, by some freak happenstance in mastercard world, TTC's presto card reloads are classified as travel, so I can basically redeem at will, considering I take the bus each day to work. Even at 2%, can't beat it. Furthermore, I combine it with the Scotia Momentum infinite for groceries and gas. Considering that one costs me the full $120/yr, including one extra card, and I use it only for expenses that net 4%, I get a net benefit from the visa card of about $200 - by net here I mean considering only the extra income brought by the additional 2% above the capital one card, minus the annual fee. This might not work at all without the annual bonus from the capital one card, but for me the combination of cards - one 4% for groceries and gas and one 2% for everything else - works quite well. I also have an Amazon Chase card for foreign currency - it has a built in 2.5% cash back if you consider foreign currency fees, plus the 1% explicit cash back, automatically applied in $20 chunks, so no need to wait a full year for it. One more word about personal impressions: Scotia Bank as a whole seems the shittiest of them all when it comes to customer interactions. I hope never to need to interact with them past a web page. OTOH, both amex and capital one have been absolutely great through the years, no complaint there. So that is one aspect which might be good to consider when ranking credit cards - though it might prove hard to quantify.

March 21, 2017 @ 11:23 am
Stephen Weyman
Stephen Weyman's picture

I used to have the old Aspire card that you are grandfathered into as well. Unfortunately, I can't included grandfathered cards in my analysis because they need to be available for new customers to apply. The Aspire card loses a lot of its appeal without the annual 10,000 point bonus. I would have kept that card if I wasn't grandfathered into an even better deal with the MBNA Rewards World Elite. I have that card with a $0 annual fee - so 2% back that can be redeemed for cash or anything else whenever I want.

Combining cards the way you do makes a lot of sense. What you're doing with the Scotia card will work for many if they have high gas/grocery spending. If that isn't the case, then most would be better off with the MBNA card.

Quantifying customer service is VERY difficult. But stay tuned - I do have a project I am working on that will be launching soon that will eventually be able to factor that in.

March 21, 2017 @ 12:10 pm
Daniel's picture

Just to add, I just received yesterday my new amex cash back card. I got $50 from for applying through them, it's no annual fee and has 5% on groceries and gas for 6 months - I'll use it instead of the Scotia visa card for the first 6 months and then just keep it around. Also, I am getting $25 cash back for applying for an additional for my wife. The fun never ends :-P

March 23, 2017 @ 9:30 am
Marpy's picture

Hi - based on my experience, my first rule when it comes to Credit Cards is that I do not look at any cards where the user has to pay a fee. My second rule is that I do not use any cards that do not provide the user with a reward. My third rule is that I pay the balance off in full every month (I pay no interest). My 4rth rule is that I do not use my cards to buy anything i could not afford to pay cash for. In other words, I only have cards for my convenience, for the rewards they give me and for the odd emergency.
Having said the above, I have multiple cards as different cards are used for different purposes. I have a tangerine card as it gives the best return on the 3 categories you chose and if you have an account with them you can set it up so your rewards are automatically deposited in your account. They also keep track of all the reward earnings since you got the card. Hard to beat for a no fee credit card.
I also have a PC world Elite master card that I use for grocery shopping in their stores as it actually beats tangerine for grocery rewards. The card is though hard to get and the cashback is in points which I redeem for groceries - you always have to buy groceries.
My least favorite rewards cards are the cards that give you air miles - be it airmiles, aeroplan or what ever. Why - because when you look at the restrictions - blackout periods, extra costs etc, I can usually cross the boarder into the USA always fly for cheaper than flying out of Canada and many times fly for cheaper that the extra costs that they charge you for using miles and with less hassle as their are no restrictions. This means that I only use these cards when I have for some reason decided not to use one of my other cards and cash in the rewards for things other than flights.
Also if you are going to apply for a card, you can earn up to $100 gift card when you apply through certain sites (I have done this at least 3 times and always got my gift card) is a site I have used.
Finally it has been my experience that the credit card companies like the fact that they are paid off in full every month. The rare time when I have missed the date for what ever reason and phoned them up asking for "interest forgiveness" it is very quickly granted after they look at my payment record.
JMO in the game off credit cards. :-)

March 21, 2017 @ 11:42 am
Stephen Weyman
Stephen Weyman's picture

Thanks for sharing Marpy. I prefer to take a single card with an annual fee if it nets me more rewards after the annual fee is deducted from the rewards. But, there is something to be said for the simplicity of sticking with no-fee cards and not having to worry about that at all. I subscribe to your other 3 rules for sure :)

I do like Aeroplan cards because I've figured out how to get good value out of them with little hassle, but I agree that Air Miles cards are junk. Not only is the return on spending bad if you happen to find a half decent reward - but the rewards you want are so hard to get in the first place.

March 21, 2017 @ 12:14 pm
Marpy's picture

Yes, I agree under the right conditions, a fee card works well. I may have to see what i can get out of Aeroplan this summer (6 people flying out of Toronto). I usually cross the boarder but may not have a choice in the matter this time. Also wanted to say - another great article on your part.

March 21, 2017 @ 4:15 pm
Marpy's picture

also I forgot Costco's credit card which gives you 2% reward on Costco purchases including gas. if you live near a Costco and know when to avoid the line ups, their price of gas can be considerably cheaper.

March 21, 2017 @ 11:49 am
Linda 's picture

This is not the first list of best cash back credit cards lists I've seen, however, the Costco Capital One Master Card is never included. Does this mean all the cards included in these lists are better than the Costco Capital One Master Card? Many, many people have the costco card and I'm sure they would also know how this credit card stacks up to the ones on your list.
Thank You

March 21, 2017 @ 12:20 pm
Stephen Weyman
Stephen Weyman's picture

Yes, that's exactly what it means. The Costco card comes in at #17 in my cash back rankings.

March 21, 2017 @ 12:55 pm
Linda 's picture

Thank You Stephen for your prompt reply. I appreciate all the time you spend on articles to save us some money.. I will be switching probably 3 of my credit cards to those your recommended.


March 23, 2017 @ 8:08 pm
Stephen Weyman
Stephen Weyman's picture

Glad to hear it Linda - hope that you earn more cash back and get better perks from doing so :)

March 23, 2017 @ 8:26 pm
TJ Lin
TJ Lin's picture

Hi Stephen,

Thank you for spending the time to compare 76 cards, very good comparison. I love to read to keep up-to-date, though I am happy with the cards I have: Tangerine (I am a low spender) and Desjardins Visa Odyssey Gold (good travel insurance for seniors).

I would like to share several experiences I have:

MBNA is very strict on income level. I had a Smart Cash card, which has a cash back cap. I asked to upgrade to the World card and was refused because my annual income is lower after retirement, though my credit score is very good. Also, they don't consider the amount of asset you own.

My wife and I have a separate Tangerine cards. So we have six 2% cash-back categories, three on each card. With some planning, we are able to maximize cash back of six categories most of the time.

I was able to get my Desjardins Visa card a few months ago even with a low annual income because they consider the amount of your asset. However, filling in the application form takes more time, because of the additional information they ask for (investment, RRSP account, bank account value, home value, etc).

March 21, 2017 @ 12:41 pm
Stephen Weyman
Stephen Weyman's picture

I've been approved for MBNA card before being under the income limit - but it may have been the combined family income + good credit score that got me through. Glad to hear you were able to get the Desjardins card based on your assets.

March 21, 2017 @ 12:57 pm
Sharon's picture

Hi Stephen,

What is your recommendation for the best foreign currency credit card? I was looking at the one but I believe you have to be a US resident to get approved for one, or at least has an address in the US.

March 21, 2017 @ 2:18 pm
Stephen Weyman
Stephen Weyman's picture

The Chase Visa is actually a Canadian card and you should be able to apply no problem.

I would recommend either that one or the Rogers MasterCard from the table above. With the Rogers card your rewards jumps from 1.75% to 4% when transacting in a foreign currency. That almost covers the full 2.5% currency fee. The down side is that if you do returns, you are going to get dinged for the currency fee both ways - at least I think that's how it works. The other thing is you can only request your cash once per year with Rogers if you don't have a Rogers affiliated product or service you can redeem your cash against.

So, if you want simple, and Rogers if you want increased rewards overall and are willing to jump through a few hoops.

March 22, 2017 @ 12:11 pm
Erick's picture

I have the same credit card lineup as Daniel described's the best possible combination to maximize rewards and minimize foreign exchange costs, as long as you don't mind juggling cards based on the type of purchase.

One thing to mention about the CapOne card...good luck trying to get your credit limit raised after you're approved. Unlike every other credit card company I've ever dealt with, you can't request an increase. They'll only offer you an increase if they deem you worthy.

Paying the full balance on time for years and never exceeding my limit didn't trigger an offer, but that unexpectedly changed once I was pre-approved for a new mortgage.

I guess if RBC is cool with lending me 400K, CapOne decided they could probably trust me with an extra $3000.

March 21, 2017 @ 5:56 pm
Stephen Weyman
Stephen Weyman's picture

Yes, there have been plenty of complaints from Capital One Platinum for Costco cardholders that they can't get their limits raised among other annoyances.

March 22, 2017 @ 12:12 pm
Mark's picture

Just want to let everyone know come April 29th, the rewards for the Tangerine credit card is getting reduced. The "other" category is being bumped down to 0.5% from 1%. Also, the foreign transaction fee is being increased to 2.5% from 1.5%. It's ok for those who carry multiple cards to maximize cash back but sucks for those of us who like to only use one primary card. Just received a notice today on the upcoming changes.

March 25, 2017 @ 12:15 am
Stephen Weyman
Stephen Weyman's picture

Thanks for the heads up Mark. I've added a warning to my no-fee cash back rankings where it is the #1 card and will be redoing my rankings when the changes come into effect next month.

March 29, 2017 @ 4:24 pm
walter's picture

Hi ,
I notice the insurance score in your rating for BMO Cash Back World Elite MasterCard in very high ,could you explain what's makes that score so high , I think Scotiabank Gold American Express Card has way better insurance and its score is much lower in your rating, also Scotia Gold Amex has first year fee free for primary cardholder and also supplementary cardholder .The signup bonus is 25000 points what gives $250 not $160

March 28, 2017 @ 8:16 pm
Stephen Weyman
Stephen Weyman's picture

Good question walter. While the Scotia Gold Amex isn't technically a cash back card, I did include it in my cash back rankings because you can turn your points into some form of cash as one of your points redemption options.

In terms of insurance, the BMO card offers 14 different types of insurance whereas the Scotia card only offers 12. The BMO is also best in class in several more categories than the Scotia card is.

That said, there are a few important categories where the Scotia card is stronger, like 25 days emergency medical coverage vs 8 days for BMO. BMO also offers $750 personal effects coverage, which is extremely rare. That means if you have damage or loss to any of your personal items (including but not limited to baggage) during the entire duration of your trip - you are covered.

Most cards just offer baggage insurance while the bags are in transit by the common carrier. That's a really big important difference.

March 29, 2017 @ 4:23 pm
Bruce's picture

How did the WestJet Elite MasterCard compare? Moneysense magazine has said in the past it is right near the top.

March 29, 2017 @ 4:06 pm
Stephen Weyman
Stephen Weyman's picture

It's a good card if you fly WestJet - but it isn't a cash back card. I am going to be publishing flexible travel rankings later this year and I expect it will be in the top 10 there.

March 29, 2017 @ 4:18 pm
Len's picture

Hi Stephen,

I, too wonder why the Insurance rating is so high on BMO Cashback World Elite MasterCard. I went on the link provided in your article and what I could read (BMO states that the details are provided upon obtaining the card) it is average. You get 8 days emergency medical coverage up to 65 years of age and that is it. Capital One Aspire Travel World Elite MasterCard has coverage up to 22 days for the family and 8 days if you over 65 years of age. Also, this coverage is automatic, you do not have to charge any of your trip to the card to get coverage. you also get Trip cancellation, trip interruption, trip delay, baggage delay, baggage loss for the cardholder, family and up to two traveling companions (think Grandma and Grandpa). You also get travel accident insurance for you, your spouse and dependent children against accidental loss of life or dismemberment for up to $500,000 while traveling on a common carrier (for example, a bus, cruise ship, plane or train). Car Rental Collision/Loss Damage Waiver is included for up to 48 days. In addition to extended warranty (same extent as BMO) one gets price protection for 60 days and purchase insurance against loss, theft or damage for 120 days. BMO could have all this too but they do not post the Certificates of insurance to determine what is available. Capital one provides all the Certificates of Insurance for download - pretty transparent

March 29, 2017 @ 7:55 pm
Stephen Weyman
Stephen Weyman's picture

The Capital One Aspire Travel card has good insurance for sure. It has sightly less total number of insurances and the BMO card has the best coverage when compared to every other card more often. It's true that it does lack Price Protection and has few Emergency Medical days. You have to choose what works for you because no one card "has it all" - at least not yet. The BMO card is the closest you will get though.

March 31, 2017 @ 2:32 pm
Luigi D
Luigi D's picture

Hello Stephen,

What are your thoughts on the Meridian Visa Infinite Cash Back?
Similar to Scotia Visa Infinite Cash back pay 4% ?

April 01, 2017 @ 5:11 pm
Stephen Weyman
Stephen Weyman's picture

I haven't ranked this one yet Luigi (I will next time), but it looks like a carbon copy of the Scotia card with slightly better insurance. Do you know if you need to be a credit union member to qualify?

If not, it would probably jump the Scotia card as the #2 card.

April 02, 2017 @ 7:56 am
Jeff Bernstein
Jeff Bernstein's picture

I'm trying to decide whether to get a cash back card or a travel card. I do travel a lot. The issue is comparing different types of rewards. Cash back is done by percentages, where as travel is points.
Is it possible to compare MBNA Elite M/C to the TD First Class Travel Infinite. I spend approx. $20,000 on credit. Which gives me the better return.
Thank you in advance..

April 02, 2017 @ 10:13 am
James's picture

This an amazing breakdown - thank you so much for this.

I have a dumb question. Let's assume I already have the MBNA Elite card, and that I have a CAA membership (which costs $80/year at the lowest level and $120/year at the highest level. Does it make any sense to drop the CAA membership and get the BMO World Elite card, even though it means paying the $120 BMO fee, to access both the roadside assistance and then get all the other benefits that card offers (insurance, etc) for travel? At most, you're only paying $40 extra/year, and you might make that up through the price protection aspect, etc. Am I off on this, or is there any basis for doing something like this?

April 08, 2017 @ 11:55 pm
Stephen Weyman
Stephen Weyman's picture

No, that's make great sense. It's hard to get the kind of insurance these cards offer at a reasonable price by just straight paying for it.

May 15, 2017 @ 9:30 am
Perry's picture

Thanks for this, Stephen!

I'm wondering why the Amex SimplyCash Preferred didn't get a better rating. On their site, I see $99 annual fee (not $79 as shown above), and 2% cashback on everything, plus all the usual Amex insurance. The only downside I can see as compared to the MBNA card is that cash is only credited once a year (September).

Am I missing a drawback?

Cheers... Perry.

April 15, 2017 @ 7:27 pm
Anne Lapointe
Anne Lapointe's picture

Hi, just to let you know the Tangerine credit card have just sent me a notice ...Starting april 29th they change their rates as follow: rewards 2% cash back on selected (2) categories and 2% on three categories if money goes back in saving account(tangerine) but now instead of 1% on everything else they are lowering it at 0.50% on all other categories.
They are other changes not in our favor of course but that to me was the major one please factor that in when choosing.

April 19, 2017 @ 11:18 am
Stephen Weyman
Stephen Weyman's picture

Thanks, all rankings and articles have been updated to reflect this change.

May 15, 2017 @ 1:36 pm
Ash's picture

Hi Stephen Weyman,

You said you'd write an article about how to get an annual fee waived by negotiating with the bank at the branch level. I have a scotia visa infinite. How do I get the annual fee waived? I also have a checking, savings, USD and LOC (hardly use it) with Scotia. I pay no monthly fees. How would I make a case to have the fee waived forever? A one time waiver is not good enough. I want a lifetime waiver.

April 30, 2017 @ 2:10 am
Stephen Weyman
Stephen Weyman's picture

I don't believe anyone will agree to a lifetime waiver unless possibly you have so many products with them already that they feel that is reasonable or they offer a premium banking package that also offers a premium credit card for free similar to what TD and BMO do. We did publish this article if you missed it:

May 15, 2017 @ 1:37 pm
A tech guy in BC
A tech guy in BC's picture

Hey, Stephen, I am not sure if you are aware, but the Chase VISA is no longer accepting applications. That is one less of the precious few cards that cater to people who shop in the USA or other countries and need a decent foreign currency arrangement. Apart from the Rogers Mastercard, are there any other cards that are good for purchasing in a foreign currency?

Tech Guy in BC

June 14, 2017 @ 5:14 pm
Stephen Weyman
Stephen Weyman's picture

The Rogers MasterCard is definitely the best one right now. The Chase Marriott Visa is also an option if you want travel rewards and don't mind an annual fee. There are a few other cards that give you boosted rewards for FX purchases - but they aren't nearly as good as the Rogers card.

June 19, 2017 @ 10:57 pm
A tech guy in BC
A tech guy in BC's picture

Sounds like a possible new category for your blog - best credit card for use with foreign currencies. :)

Tech Guy in BC

June 20, 2017 @ 12:48 pm
Richard 's picture

I notice the BMO® CashBack® World Elite®* Mastercard is offering 1.75% cashback on all purchases after the 4% cashback for the first 4 months. Doesn't sound bad as there's roadside assistance thrown in.

June 22, 2017 @ 4:02 pm
Leanne Williston
Leanne Williston's picture

Richard, you're absolutely right. We definitely consider the BMO CashBack World Elite MasterCard to be one of the best, especially if you have think you would benefit from roadside assistance. It has one of the higher annual fees, but with the great sign up bonus and all the benefits that come along with it, it's a great card to consider. 

June 26, 2017 @ 10:04 pm
Andre Gonzalez
Andre Gonzalez's picture

Please help I am stuck between 3 cards.

Tangerine which would only be a 2 category list for me as I wouldn't sign up my account.
Mbna elite as I like the 2 percent however there is the annual fee
And Rogers platinum. I am leaning toward this card as there is the solid 1.75 percent on everytbing and i like the 4 percent on foreign.

I'm currently have an rbc elite card and tires of the 100 annual fee and not been able to apply it to full packages. Great card over all just don't have complete freedom with it. Besides I would rather prefer a flashback card. Please help with advice

June 25, 2017 @ 8:55 am
Leanne Williston
Leanne Williston's picture

Hey Andre :) 

All three of those cards have benefits.  The 4% on foreign transactions from Rogers is definitely appealing if you do any amount of foreign fee shopping, plus 1.75% is a great amount. If you go with this card, you will have to remember to call into Customer Service to request your rewards as a credit on your account, otherwise the rewards can only be used for Rogers products. 

Have you considered the SimplyCash card from Amex?  I realize Amex isn't accepted everywhere, so that can make it a bit of a pain, but with this card you get a really nice sign up bonus, plus 6 months of 5% cash back on gas, groceries and at restaurants (if you play your cards right, those 6 months could really add up)!  Also, unlike the Rogers card, there is no annual fee, so, it might be worth looking into!  You could always consider getting the Rogers Card as a back up for your foreign purchases and for anywhere that Amex isn't accepted. 

June 26, 2017 @ 4:40 pm
Richard Sherrington
Richard Sherrington's picture

Hi Stephen,

Great analysis of cards. Just to make sure I understand this Re CIBC Visa Dividend infinite and similar cards that pay 4% on groceries, I just want to make sure about one thing. If I buy gift cards at say Sobeys to, for instance, NSLC (Liquor Commission in Nova Scotia), or Canadian Tire ro Home Depot or the rest do I get the 4% when I use t hose cards at those outlets?


July 04, 2017 @ 11:06 am
Stephen Weyman
Stephen Weyman's picture

Yes, that's correct.

July 31, 2017 @ 3:27 pm
William's picture

Thanks for the tips on buying gift cards of other retailers at grocery stores because I get 4% on my CIBC Dividend card!

September 30, 2017 @ 5:20 pm
david's picture


I'm about to purchase a $22,625 USD product. I'm looking for the best cash back and USD/CDN conversion card. I unfortunately will not be a new AMEX, CIBC or MBNA card holder, so I think those are off the table. Any suggestions?


August 11, 2017 @ 12:12 pm
Leanne Williston
Leanne Williston's picture

Thanks for writing in David. Unfortunately, Foreign Transaction fees are pretty standard across the board - 2.5%. There are only a few exceptions, and even less if you are only considering cash back cards.
We would probably suggest one of the Rogers credit cards for you, either Rogers Platinum or Rogers Fido. While this card does still charge you the 2.5% fee, you also earn 4% cash back on foreign transactions - so in the end you will be 1.5% ahead.
Just keep in mind that you will need to call and chat with customer service before January to request that your cash back rewards get applied as a statement credit.

August 14, 2017 @ 10:55 am
Steve's picture

I decided to cancel my Scotia Momentum Visa Infinite and go with the TD Cash Back Visa Infinite Card because if you open an
TD All-Inclusive Banking Plan account and keep $5000.00 min bal, the monthly a/c fees and your annual credit card fee are waived. Before I had to spend $2475 in groceries (my annual grocery bill is only $3800) to break even on Scotia's card fee. Granted TD is 3% on groceries and gas. TD is still better with no annual fee. Recurring charges to the card are 3%.

In conjunction, I use Tangerine MC on specific 2% items, Rogers MC for 1.75% items and Cdn Tire MC 4% cash back only for their store purchases.

September 05, 2017 @ 4:01 pm
Steve's picture

Update to my post of Sept 05, 2017.

The TD Cash Back Infinite Card now has a promo for 6% cash back on everything, up to spend limit of $3500 within first 3 mos.
Promo ends Dec 03, 2017. Check it out at TD Bank's website.

Also, the TD CB card has free Auto Club membership, so I will cancel my CAA membership. This will offset part of the Scotia Momentum Visa card annual fee, t/fore I may keep the Scotia card also.

Comments Stephen?

October 25, 2017 @ 1:13 pm
Andre Gonzalez
Andre Gonzalez's picture

so i currently have the momentum visa. while its good and all i cant use it for canadian costco. and i find no point using it in the states as i go to fred meyers and use my rogers platinum card for the same 4 percent as i would get from the momentum. i hardly go to USA costca as i mentioned due to that i find alot of better sales at fred meyers for cheaper prices as well. i only go to costco if i need the odds and ends.

so my quesion at this point would be should i just use my rogers card or get the MBNA card at the solid 2%
is a .25% more worth the annual fee of 89$

November 30, 2017 @ 7:33 am
Barry's picture

Hi Stephen,

My post is somewhat related to the post above regarding the Rogers or MBNA mastercards. I currently have the MBNA Elite and have been using it for a couple of years. Great card, nice 2% cash back pretty much any time you want it, so very flexible. I was just doing some math and checking my annual spending (as my yearly fee for the card is coming due) and at $26k in spending for a year I'll get $520 in cash back rewards. Sweet. Now subtract the $89 fee for the year and it comes down a bit to $431. Still pretty good. I also have an Amazon Visa that I use for travelling and spent $7k last year, so with a 1% reward on that it netted me another $70 (and saved me 2.5% in transaction fees). $501 in total for the year. All good. So just for fun I added up the same spending using the Rogers card just to see how the cash back compares. Factoring in that the card would be free (first year and after that if you have Rogers products - I do), at $26k spending I'd get $455 cash back. At this point I'm actually ahead of the cash back I'd get from my MBNA card. If I add in the $7k that I spent travelling at 1.5% cash back (4% - 2.5% foreign transaction fee) I'd get $105 cash back, so I'm up to $560 cash back for the year. Add in the $25 sign up bonus and it would be $585 for the year. Not bad!. I know there is more flexibility and insurance coverage with the MBNA card, but I'm still considering switching.

December 06, 2017 @ 4:37 pm
Leanne Williston
Leanne Williston's picture

It's hard to deny that the Rogers Mastercard is a solid no fee card for all the reasons you mentioned and as long as you're not concerned about what the Rogers card lacks (insurance, perks, and flexibility), based on your spending that extra $60 a year could definitely be worth the change.

December 06, 2017 @ 7:10 pm
Sharon  's picture

Hi there,

I find this a little confusing.. your site says that the Amex SimplyCash Preferred card is offering 10% cash back on some categories, but the Amex web site is saying only 5%.

December 11, 2017 @ 2:41 am
Leanne Williston
Leanne Williston's picture

Hey Sharon, Thanks for catching that!   The offer that Amex is currently offering through is actually even better than 10% on gas, groceries, and restaurants for 6 months (capped at $300).  We are offering 5% cash back on all purchases for 6 months (also capped at $300), PLUS a $100 statement credit when you spend $6,000 in your first 6 months.  Up to $400 sign up bonus for a cash back card is pretty fantastic!  The copy above has been corrected.  Thanks again! 

December 11, 2017 @ 11:06 am
Daniel.'s picture

Hi there,
First,great great forum,congratulations Stephen.Just e friendly warning for everybody that is thinking
to get a Tangerine card.The customer service is ZERO,my story is to long.For fun just try to talk to one
person in that department,waited 1h 30 to talk to a supervisor,close the ligne and cancel my card afterwards.

February 12, 2018 @ 9:56 pm
Martin's picture

I think the Scotia Mom. Inf. Visa is better card. Even though it pays 4% cash back on gas & grocery purchases only, I can buy gift cards for merchants like Shopper Drug Mart, Homedepot, Canadia Tire, etc. from gas stations and grocery stores to earn 4% cash backs, then use the gift cards at those merchants. So the end results is 4% cash back for shopping at these merchants.
I can also buy the Onevanilla prepaid Master card or the Paypower prepaid Master card with a fee less than 2% and use the prepaid cards to pay for other purchases that I can’t get 4% back. So the net cash back on these purchases will be more than 2%, including paying bills, etc.

February 20, 2018 @ 12:39 am
Daniel's picture

Why doesn't anybody mention Home Trust Pref. Visa? As a replacement for the Amz Chase for foreign transactions, is pretty much a perfect fit - no annual fee, no foreign exchange fee, 1% cash back, same almost everything, just not the 2% at amazon - which I never used anyway...

March 13, 2018 @ 4:39 pm
Nadia's picture


How about zero fee credit cards offering cash back ? I am sure there are a few on the market ( I own one , and it is a very standard offer not a privilege for a loyal customer ) . Please add the missing information. It's not obvious one would go for a cash back card if it involves 120 + annual expenses .


March 13, 2018 @ 7:24 pm
Julie Lee
Julie Lee's picture

The Chase Visa card is being discontinued this month. Yes, it was great in having the no charges for foreign exchange purchases and esp purchasing goods online.

March 13, 2018 @ 9:25 pm
Carl's picture

Hi there,

I think you should be doing credit card reviews more than once a year, as new Premium Credit Cards will be issued later this year. (such as BRIM World Elite Mastercard, and Rogers World Elite Mastercard)

I am looking forward to the Rogers World Elite Mastercard which will be be available in June 15, 2018.
(upgrading from my existing Rogers Platinum Mastercard - which includes some insurance coverage which was not available before and NO Annual Fee)

March 21, 2018 @ 7:07 pm
Leanne Williston
Leanne Williston's picture

Hey Carl, Thanks for your comment. 
We actually have a second website that is devoted fully to credit cards and uses a similar (though more complex) algorithm as this site.
You can also find a blog there that we are keep up-to-date with the latest credit card news.
Feel free to check it out and let us know what you think. 
Thanks :) 

March 23, 2018 @ 10:17 am
John Choi
John Choi's picture

I would love to MBNA credit card but the annual income is what holding me back. I honestly have no idea how they came with that number, I make significantly less than 80K but I never failed to pay my credit card bill on time, not even once. I do understand it is a premium card so the card issuer will obviously want people with the higher income, but how many % of Canadian actually makes more than 80K? Having a such a high income cap is what deter from applying it

April 15, 2018 @ 2:15 am
Harry Anchan's picture

Well, I just received my Capitol One Costco Mastercard. Where does that fit in? I already have the MBNA Rewards World Elite Mastercard. Maybe, I should stick with it as I have been very happy with them for almost a decade.

May 07, 2018 @ 12:16 pm
Leanne Williston
Leanne Williston's picture

Thanks for writing, Harry.  Honestly, we consider the MBNA Rewards World Elite Mastercard to be the best Cash Back card in Canada (and a pretty solid travel one as well!) 
Stephen has actually written a review on the Costco Mastercard that you can check out here (Be sure to read the comments.. He got a LOT of feedback on this one!)  And on our other site, he also wrote an article about great credit cards to use at Costco that you can read here. (Spoiler alert: The MBNA Rewards World Elite Mastercard is one of the best!)
Hope you find them helpful! 

May 25, 2018 @ 12:55 pm
Liz's picture

Rogers Bank Credit Card seems to have pretty good benefit at a glance but there’s a lot of hidden issues if you use it everywhere. You gain small cash back benefits by using it, but the troubles it causes later is not worth it.

The truth is that Rogers Bank is not a real bank and they don’t have the leverage other real banks have. For example, it’s almost impossible for them to reverse the charges immediately after you complaint about fraudulent charges on your credit card. You will have to go through a lengthy process of dispute(up to 90 days for a result) and even then you might not get the money back. I would definitely not recommend to use this credit card overseas or use it for any recurring billings.

I also wouldn’t recommend to have other authorized credit cards under your account with Rogers Bank credit card. It turns out that when they said the authorized credit card is cancelled, it’s not really cancelled. When they send you a new card for upgrade, the old authorized credit cards become active again and all the old recurring charges which you were not able to disable for various reasons will come through again, even though they said that old authorized credit card was cancelled, and the new credit cards have completely different credit card numbers, the charges still will come through.

Their customer service and dispute department representatives don’t seem very knowledgable about the services neither. They were not really able to explain to me why the problem is happening, nor are they able to connect me with anyone who can help me resolve my issues with their service.

Rogers Bank Credit Card seems to have pretty good benefit at a glance but there’s a lot of hidden issues if you use it everywhere. You gain small cash back benefits by using it, but the troubles it causes later is not worth it.

The truth is that Rogers Bank is not a real bank and they don’t have the leverage other real banks have. For example, it’s almost impossible for them to reverse the charges immediately after you complaint about fraudulent charges on your credit card. You will have to go through a lengthy process of dispute(up to 90 days for a result) and even then you might not get the money back. I would definitely not recommend to use this credit card overseas or use it for any recurring billings.

I also wouldn’t recommend to have other authorized credit cards under your account with Rogers Bank credit card. It turns out that when they said the authorized credit card is cancelled, it’s not really cancelled. When they send you a new card for upgrade, the old authorized credit cards become active again and all the old recurring charges which you were not able to disable for various reasons will come through again, even though they said that old authorized credit card was cancelled, and the new credit cards have completely different credit card numbers, the charges still will come through.

Their customer service and dispute department representatives don’t seem very knowledgable about the services neither. They were not really able to explain to me why the problem is happening, nor are they able to connect me with anyone who can help me resolve my issues with their service.

June 01, 2018 @ 8:45 pm
Dimitry's picture

MBNA just sent me a notice about changes to their program for their World Elite Mastercard.

Starting Feb. 1, 2019:

- You will need 120 points to get $1.00 cash-back whereas previously it was 100 points for $1.00.
Effectively this makes it a 1.67% cashback card instead of 2%.

- Annual fee is going up from $89 to $120.

This is still a good card, but brings it closer to some of the competitors.

July 23, 2018 @ 2:07 pm
HowToSaveMoney Team
HowToSaveMoney Team's picture

That is pretty disappointing. 
But thanks for bringing this to our attention. 

July 25, 2018 @ 2:25 pm
Fred's picture

Very disappointing.

I have had the MBNA World Elite card for at least 7 years and because it was "grandfathered" from some other credit card that was discontinued (was it a Starwood MBNA card?), I have had it for no fee for all this time. I figured t was only a matter of time before it would change and lo and behold, here it is.

However, I'm still going to shop around.

July 28, 2018 @ 8:54 pm
cajon's picture

With the fee of $120 factored in, the cashback rate is even lower than 1.67%. If a person charges $30,000 a year, the points earned would be 60,000. Using the new rate, this would produce cashback of $500 but after the fee of $120 is subtracted, the net cashback is $380. This produces a cashback rate of 380/30000 or 1.27%. With lower spending, the rate is even less: $20,000 produces a rate of 1.07%, $10,000 gives a rate of 0.47%. If a person charged only $5,000, the rate would be -0.73%, since the cashback would be $83.33 but the annual fee is $120 so there is a net loss of $36.67. There are definitely better cards out there now.

July 31, 2018 @ 2:00 pm
Fred's picture

I haven't seen it mentioned here, but the other card I carry is the Triangle MasterCard from Canadian Tire Bank. It is a no fee card and gives 4% in CT money for purchases at Cdn Tire, Marks, SportCheck (which are the only places I ever use it). They also offer specials frequently where you can get anywhere from 12 to 20% on selected items or large purchases ($100).

July 28, 2018 @ 9:08 pm
HowToSaveMoney Team
HowToSaveMoney Team's picture

The main reason why the Triangle Mastercards are not mentioned here is that we like to reserve this list for cards that will give cardholders true cash back – whether that be a statement credit or cheque.  Cash back that can be used on anything and isn't restricted to one store. 

August 03, 2018 @ 2:46 pm
Julian's picture

Looks like MBNA just got dethroned, looking forward to Steven's update.

August 01, 2018 @ 10:07 am
joe's picture

With the BMO mastercard you can no longer can get travel insurance even if you pay for it as an option.

BTW comments here seem to not be sorted by date?

September 06, 2018 @ 10:26 am
Clos's picture

Actually if you can afford it, the best credit card for cash back is the Desjardins Privilege card.
Its 2% on everything.
Now, if you have a desjardins bank account - its a $295 annual fee, where you get $200 back if you spend $10k on the card in a year.
Therefore its a $95, 2% card - WITH all the privilege benefits on it. But you got to want to be a desjardins member.

September 29, 2018 @ 5:56 pm
Danielle Boudreau
Danielle Boudreau's picture


Thank you for your input, Clos. That is definitely a great deal if you are able to do your banking with Desjardins, especially if you live in either Quebec or Ontario since they are mostly based in those provinces. It can be harder for Canadians living in other provinces to have bank accounts with them since branches are not as common. For non-members, the annual fee goes up to $395, which can be a bit harder to justify for most Canadians.

October 01, 2018 @ 11:25 am
PERRY O's picture

I've been using the MBNA World Elite for years now and have added cards for my wife and two teenagers. On average we spend approx $7000 per month on the card, mostly in gas and groceries. I get my gas almost exclusively in the US (does this matter)? I looked at the Scotia Momentum Visa and the Amex but am not sure which one would be best. I don't want to pay for extra cards (need 3 for family) and only really want the most cash back possible. I never carry a balance or pay any interest. Suggestions ?

October 22, 2018 @ 4:11 pm
HowToSaveMoney Team
HowToSaveMoney Team's picture

Hello Perry,

One good cash back card would be the American Express SimplyCash Preferred, which gives you a solid 2% cash back on all your spending, with no caps.

The Scotiabank Momentum Visa Infinite is another good cash back card, earning you 4% cash back on gas and grocery for each $ spent, but you're capped at $25,000 in spending on each category. There is also a $30 additional card fee for each additional card.

Out of the 2 cards mentionned above, I think the Amex SimplyCash Preferred could be better fit. Depending on your monthly spending habits, cashback earnings with the Scotia Momentum could be cut short after only 4 - 5 months.

October 23, 2018 @ 4:09 pm

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