Best Cash Back Credit Cards in Canada for 2026

The best cash back credit card in Canada for most households is the Scotia Momentum Visa Infinite + Card, which pays 4% on groceries and recurring bills. The Wealthsimple Visa Infinite + Card is best for a flat 2% on everything with no FX fee, and the Tangerine Money-Back Credit Card is the top pick with no annual fee. The right card depends on where your money goes each month, so we run the numbers below. Rates and fees are as of September 2026; confirm them on the issuer's site before you apply.

Which cash back credit card pays the most in Canada?

The card that pays the most is the one whose bonus categories match your biggest monthly bills. Grocery-heavy households usually do best with a category card like the Scotia Momentum or BMO CashBack World Elite, while people whose spending is spread out, or who spend abroad, often do better with a flat 2% card.

How we picked

We compared every Canadian cash back card we review, plus strong no-fee cards from issuers' own pages, on five points:

• Cash back on a realistic budget, not just the headline rate.
• Caps. A 5% rate that stops after $500 a month can pay less than a 4% rate with a $25,000 yearly limit.
• The annual fee, subtracted from what the card earns.
• Eligibility, since income minimums run from $12,000 to $80,000 personal.
• Extras such as insurance and foreign transaction fees.

All figures are as of September 2026 and come from our card reviews and the issuers' websites.

How much would each card earn on a typical budget?

On a $2,500-a-month budget, the Scotia Momentum and a fee-waived Wealthsimple card come out on top, each returning about $600 a year after fees. We used $800 a month on groceries, $300 on recurring bills, $200 on gas and $1,200 on everything else, or $30,000 a year, and applied each issuer's listed rates before welcome offers:

• Scotia Momentum Visa Infinite +: $384 on groceries, $144 on bills, $48 on gas and $144 on the rest, for $720, or $600 after the $120 fee.
• Wealthsimple Visa Infinite +: 2% of $30,000 is $600, or $360 if you pay the $240 fee instead of qualifying for the waiver.
• TD Cash Back Visa Infinite: $288 on groceries, $108 on bills, $72 on gas and $144 on the rest, for $612, or $473 after the $139 fee.
• BMO CashBack World Elite: the 5% grocery rate covers only the first $500 each statement period, so groceries earn $336. Gas earns $72 at 3%, and bills and everything else earn 1%, for $588, or $468 after the $120 fee.
• Tangerine Money-Back: with groceries, bills and gas as your three 2% categories, you earn $192, $72 and $48, plus $72 at 0.5% on the rest, for $384 with no fee.

These are illustrations, not guarantees. Whether a purchase earns a bonus rate depends on how the merchant is coded, and your own mix will shift the ranking. A household spending $500 a month or less on groceries, for example, gets full value from BMO's 5% rate.

The best cash back cards in Canada, reviewed

Scotia Momentum Visa Infinite + Card

This is the best all-round cash back card for families. Scotiabank pays 4% on groceries and recurring bills and 2% on gas, EV charging, transit, rideshare and food delivery, each tier up to $25,000 of spending a year, and 1% on everything else. The fee is $120, and Scotiabank's page currently shows no annual fee in the first year.

The catch is eligibility: Scotiabank asks for a personal income of $60,000 to $80,000 or more, or household income of $100,000 to $150,000 or more. Check the card's foreign transaction fee on Scotiabank's site if you spend abroad.

Wealthsimple Visa Infinite + Card

This card pays an unlimited 2% on everything with no categories, no cap and no foreign transaction fee. That makes it the strongest single card if your spending is spread out or you travel. The $240 fee, billed at $20 a month, is waived if you hold $100,000 or more in individual assets with Wealthsimple or direct deposit $4,000 a month into its chequing account.

The catch is the Wealthsimple relationship. You need an active Wealthsimple chequing account and a personal income of at least $80,000, or $150,000 household.

BMO CashBack World Elite Mastercard

BMO has the highest grocery rate here: 5% on the first $500 of groceries each statement period, then 1%. It also pays 4% on transit and 3% on gas and EV charging on the first $300 of each per period. The fee is $120, and our review highlights its travel insurance and roadside assistance.

The catch is the caps, which cut its value for bigger grocery bills. BMO asks for a personal income of $80,000 or household income of $150,000, and the card charges 2.5% on foreign currency purchases.

TD Cash Back Visa Infinite Card

TD pays 3% on groceries, gas and EV charging, transit, recurring bills and streaming, digital gaming and media, and 1% on everything else. Each 3% category is capped at $15,000 of purchases a year, which is generous for most households.

The catch is the $139 fee, the highest among the picks, and an income requirement of $60,000 personal or $100,000 household. It also charges 2.5% on foreign currency purchases.

Tangerine Money-Back Credit Card

This is the best no-fee cash back card for most people. You choose two categories that earn 2%, or three if your rewards go into a Tangerine savings account, and everything else earns 0.5%. Options include grocery, gas, restaurants, recurring bill payments, drug store, and public transportation and parking. The income requirement is only $12,000, and cash back is paid monthly.

The catch is the 0.5% base rate on spending outside your categories and the lack of travel insurance.

Simplii Financial Cash Back Visa (no-fee alternative)

We have not reviewed this card in full yet, but Simplii's page lists 4% on restaurants, bars and coffee shops up to $5,000 a year, 1.5% on gas, groceries, drugstores and pre-authorized payments up to $15,000 a year, and 0.5% on everything else, with no annual fee. The household income minimum is $15,000. See our Simplii Financial page for more.

Is a no-fee cash back card better than paying a fee?

A no-fee card is better when you spend too little in the bonus categories for the higher rate to cover the fee. Compare Tangerine's 2% with the Scotia Momentum's 4% on groceries and bills: the 2-point gap covers the $120 fee once you spend $6,000 a year, or $500 a month, in those categories, before counting anything else.

Below that level, or if you cannot meet the income minimums, a no-fee card wins. Our guide to the best no annual fee credit cards in Canada covers the full set.

Should you combine two cash back cards?

Yes, if you are organized. A common setup is a category card for groceries and gas plus a flat-rate card for everything else. For example, BMO for the first $500 of groceries each period, then a 2% card for the rest. We compare grocery cards in depth in our guide to the best credit cards for groceries and gas in Canada.

Who should skip these cards?

• Anyone carrying a balance. Card interest in Canada typically runs above 20%, which erases 1% to 5% cash back quickly. The FCAC points out that the interest rate is less important only if you pay in full every month.
• People below the income thresholds. The paid cards here ask for $60,000 to $80,000 personal income.
• Frequent flyers chasing lounge access or airline perks. A travel points card may give more value than cash back.
• People who spend a lot abroad on the BMO, TD or Tangerine cards. Each charges 2.5% on foreign currency purchases.