Best Cashback Credit Cards in Canada for 2021
By Pedro Anatoyas
I
Sept 12, 2020
Best Cash Back Cards in Canada
I
Sept 12, 2020
What Would You do with Some Extra Cash in Your Pocket?
If you had a few extra hundred dollars in your pocket today, how would you spend it?
Many Canadians are reaping the benefits that come with having a cashback credit card. Some are garnering hundreds, while others are raking in thousands. Many small business owners easily earn several hundreds of dollars and more in purchases every month, and they use this “supplementary income” towards their merchandise, office supplies, advertising and utilities.
It wouldn’t make much sense not to charge these items to a card that offers cashback rewards. After all, who doesn’t enjoy being rewarded for good judgement?
Cardholder Satisfaction Rating
4.5
BMO CashBack Mastercard
Enjoy a whopping 5% CashBack in your first 3 months! Then after that…
Earn 3% Cashback on grocery purchases
Earn 1% Cashback on Recurring Bill Payments
Extended Warranty and Purchase Protection on almost all items bought using card
Every Purchase You Make Without Using a Cashback Card is Like Flushing Your Money Down the Drain.
Why wait any longer looking for the perfect cashback card?
With so many options, it’s effortless to find just the right combination to suit your needs. You earn your money with blood, sweat and tears. There is no reason why you can not get some of that back!
If you are going to work hard at this game, you might as well expand your output. A concrete cashback rewards program can help you do just that.
Best 3 Travel Rewards Cards
At a Glance
$120 (Waived for first year)
Annual Fee
$0
Annual Fee
$0
Annual Fee
Distinguishing Features
- 4% on groceries and recurring bill payments
- 2% Cashback on gas and daily transit
- Full Coverage for Delayed or Lost Baggage
- Auto Collision and Damage including vehicle theft
- Delayed flights offer reimbursements for expenses relating to meal and accommodations
Earn 2% cashback by:
- Choosing 2 Categories
- From out of 10 popular categories
Purchase assurance and extended warranty covers most purchases under $60,000 against:
- Theft
- Loss
- Damage
Within 90 days of transaction and
- Can double the manufacturer’s warranty up to one extra year.
Competitive earn rates for a no-fee card include:
- Earn 3% cashback on Grocery Purchases
- Earn 1% cashback on Recurring Bill Payments
- Flexible redemption
- Cashback available at anytime
- Apply cashback towards BMO credit card balance
Limted Time Offer of 1.99% Introductory Interest Rate on Balance Transfers for 9 months.
Special Offers
Earn 10% Cashback on all purchases for the first 3 months. That’s a value of $230!
Unlike most other Cashback competitors, Tangerine does not put a cap on the amount you can earn.
Benefit from unlimited earnings for all cashback categories in all tiers!
Enjoy a whopping 5% CashBack on all purchases during your first 3 months!
Apply prior to Oct31, 2021 to qaulify
Best 3 Cashback Rewards Cards
At a Glance
BMO CashBack Mastercard
$0
Distinguishing Features
- Earn 3% Cashback on Grocery Purchases
- Earn 1% Cashback on Recurring Bill Payments
- Flexible redemption
- Cashback available at anytime
- Apply Cashback towards BMO credit card balance
Special Offers
Scotiabank Momentum Infinite Visa
(Fee waived the first year)
Distinguishing Features
Earn a generous 4% Cashback on groceries and recurring bill payments
- Full Coverage for Delayed or Lost Baggage
- Auto Collision and Damage including vehicle theft
- Delayed flights offer reimbursements for expenses relating to meal and accommodations
Coverage for Smartphones and Tablets up to $1000. Includes devices that are lost, stolen or damaged.
Special Offers
Earn 10% Cashback on all purchases for the first 3 months. Thats a value of $230!
Tangerine Mastercard
$0
Annual Fee
Distinguishing Features
Purchase assurance and extended warranty covers most purchases under $60,000 against:
- Theft
- Loss
- Damage
Within 90 days of transaction and
- Can double manufacturer’s warranty up to one extra year.
Within 30 days of activation transfer funds from another card and pay only 1.95% A.P.R for 6 months.
Special Offers
Unlike most other Cashback competitors Tangerine does not put a cap on the amount you can earn. Benefit from unlimited earnings for all cashback categories in all tiers!
Are All Purchases Eligible For Cash Back?
Most cashback credit cards offer a higher percentage of earnings within specific categories as an incentive to use your credit card to pay for purchases at participating retailers.
The great news is that these same reward cards allow you to earn your cashback in all of the other categories as well!
Unfortunately, these earnings are at a lower earn rate when compared to the primary and secondary categories. Somewhere between a half percent and one percent.
That’s where “pairing” comes in.
Start "Pairing Your Cards" to Maximize Monthly Earnings
If you would like to earn cash back at a higher percentage in your secondary categories, then what you should do is apply for another credit card. Preferably one that encourages you to spend in one or more of those secondary categories by delivering earnings to you at a higher percentage than your other card.
That way, you can maximize your returns as long as you remember to use the right credit card at the right merchants.
We call this “Credit Card Cashback Pairing”, and it’s essential to any consumer who is savvy enough to take advantage of multiple categorical opportunities simultaneously.
The Meat and Potatoes.
Ask yourself this, “Are you making the most of your purchases”?
With so many options, it’s effortless to find just the right combination to suit your needs. You earn your money with blood, sweat and tears. There is no reason why you can not get some of that back!
If you are going to work hard at this game, you might as well expand your output. A concrete cashback rewards program can help you do just that.
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