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The Best Cash Back Credit Cards for 2021

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The Motley Fool Canada’s top cash back credit card picks at a glance:


SimplyCash Preferred Card from American Express

Good for: Earning high cash back on all spending

Our Rating:

5.0 stars


Top Perks
  • No annual fee for supplementary cards
  • Valueable insurances including baggage delay, flight delay, and car rental
  • Entertainment and dining perks with American Express Experiences


Cash back

2% cash back on all spending

Welcome bonus

Earn 10% cash back for the first 4 months (up to $400 cashback)

Annual fee:

$99

Eligibility:

Credit rating: Very good


Scotia Momentum Visa Infinite Card

Good for: High cash back on groceries and recurring payments

Our Rating:

5.0 stars


Top Perks
  • Save up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
  • Mobile device insurance
  • Valuable insurance including flight delay, lost baggage, and rental car


Cash back

4% at grocery stores, recurring bill payments, and subscription purchases
2% on gas and daily transit
1% on everything else

Welcome bonus

Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards. (worth up to $350)

Annual fee:

$120

Eligibility:

Credit rating: Very good
Minimum income: $60,000 (individual), $100,000 (household) or $250,000 assets under management


Tangerine Money-Back Card

Good for: Earning cash back on select spending with no fee

Our Rating:

5.0 stars


Top Perks
  • 6 months 1.95% interest on balance transfers made in the first 30 days (1% fee applies, 19.95% interest after 6 months)
  • Get a 3rd 2% rewards category if transferring rewards into a Tangerine savings account
  • Purchase coverage for the first 90 days


Cash back

2% Money-Back Rewards in two categories of choice
0.5% Money-Back Rewards on everything else

Welcome bonus

None

Annual fee:

$0

Eligibility:

Credit rating: Good
Minimum income: $12,000


CIBC Dividend Visa Infinite Card

Good for: High cash back on gas and groceries

Our Rating:

5.0 stars


Top Perks
  • Save up to 10 cents per litre at Chevron, Ultramar and Pioneer when card is linked with Journie Rewards
  • Mobile device insurance
  • Valuable insurance including purchase security, emergency travel medical insurance, and rental car insurance


Cash back

4% on gas and groceries
2% on transportation, dining, and recurring payments
1% on everything else

Welcome bonus

10% cash back on first 4 statements (up to $2,000 in purchases) and 1st year annual fee rebated

Annual fee:

$120

Eligibility:

Credit rating: Very good
Minimum income: $60,000 (individual), $100,000 (household)


Rogers World Elite Mastercard

Good for: Cash back with no fee

Our Rating:

4.5 stars


Top Perks
  • Free Boingo Wi-Fi at over 1 million hotspots worldwide
  • Trip cancellation and rental car insurance
  • Purchase protection coverage


Cash back

1.5% on regular purchases
3% on eligible purchases made in U.S. dollars (note 2.5% foreign transaction fee)

Welcome bonus

$25 cash back on first purchase within first 3 months

Annual fee:

$0

Eligibility:

Credit rating: Very good
Minimum income: $80,000 (individual), $150,000 (household)


TD Cash Back Visa Infinite Card

Good for: Bonus cash back on gas, groceries, and recurring payments

Our Rating:

4.5 stars


Top Perks
  • Emergency Road Services with Deluxe TD Auto Club Membership
  • Save 10% or more on lowest available base rates in Canada and U.S.at participating Avis and Budget locations
  • Valuable insurances including travel medical insurance and lost baggage insurance


Cash back

3% on eligible grocery, gas, and recurring bill payments
1% on all other purchases

Welcome bonus

6% cash back on all purchases for first 3 months (up to a $2,000 in spending). Plus, no annual fee 1st year for main and supplementary cards.

Annual fee:

$120

Eligibility:

Credit rating: Very good
Minimum income: $60,000 (individual), $100,000 (household)


SimplyCash Card from American Express

Good for: Cash back with no fee

Our Rating:

4.5 stars


Top Perks
  • Valueable insurances including baggage delay, flight delay, and car rental
  • Entertainment and dining perks with American Express Experiences
  • Purchase protection up to $1,000 per occurrence


Cash back

1.25% cash back on all spending

Welcome bonus

2.5% cash back for first 3 months (up to $150 cash back)

Annual fee:

$0

Eligibility:

Credit rating: Very good


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