This post was originally written in 2007 but has been updated annually since.The reason why I’m posting it again now is because we have a new “best free cash back credit card” in Canada. After you guys gave me your favorite credit cards, I did a little research and came up with what I think are the best free cash back cards in Canada.We keep a list of deals here, checked daily by Mile
Those points have a value of up to $700 in ‘Wanna Get Away’ airfare.
And sometimes the Plus and Premier Business cards get in on the 50k action as well.
If you are a big spender (spend more than $412/month in gas/groceries), then you will get better returns with a premium card even after the annual fee.
Check out my post on the best premium cash back credit cards in Canada.
However, there is now a new king, the Tangerine Money-Back card, with better features and rewards.
Although the Tangerine money-back card is a new competitor, they have really jumped to the top of the ranks very quickly.Here are the contestants for the coveted title of The Top Cash Back Credit Card in Canada (all with no annual fee – updated May 2016): Tangerine Money-Back Credit Card ( If you spend more than 2/month in gas groceries, then the Scotia Momentum Infinite Visa which returns 4% on gas/groceries will return more than the Smart Cash even after the annual fee.The Scotia card also offers 2% return on drug store purchases and recurring payments and 1% on everything else.My long-time favorite for the best free cash back credit card in Canada was the MBNA Smart Cash card.It has a high return on gas/grocery spending (2% up to 0/month), offers 1% otherwise and with a decent insurance offering (purchase protection, extended warranty, and car rental insurance).With rewards points constantly depreciating in value, sometimes it’s best to get cold hard cash back.