Current 10% and Above Cash Back Offers for February 2023
You may have noticed by now that we started adding or expanding our commentaries to our monthly posts. Today is no different as we list the top cash back credit cards currently offering at least a 10% cash back bonus promotion. There are many other cash back offers out there too, but because the market is very competitive now, only the 10% and above promotions make it to our monthly list.
Keep in mind that we still have the Top Cash Back Credit Cards page for a more complete list of cards.
In terms of this monthly list, we split the cards up into two lists: temporary (limited time) and permanent offers (indefinite, but can end any time without notice).
Temporary 10% and above cash back offers
These are financial institutions that currently offer 10% cash back bonuses with specific end dates. We listed the cards based on the expiry dates of the promotion by putting the most recent one on top.
February 2023
HSBC Cash Rewards MasterCard® (non-QC residents only)*
- No annual fee
- Earn an additional 12.5% cash back on all purchases for the first 180 days (up to $1,000 in total purchases) (apply by February 28, 2023)
- Earn up to 14% cash back on eligible online purchases
- Earn up to 13.5% cash back on eligible gas, grocery and drugstore
- Earn up to 13% cash back on all other everyday purchases
- Ongoing cash back earnings after the first 180 days:
- 1.5% cash back on up to $6,000 of online purchases (including streaming services, online subscriptions and food delivery)
- 1% cash back on gas, grocery and drugstore purchases.
- 0.5% cash back on (almost) everything else
- *Terms and Conditions apply
- ®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
If the cardholder earns an additional 12.5% bonus cash back on the first $1,000 of spending and no annual fee, they would earn $125 (12.5% x $1,000) of bonus cash back in the first year.
HSBC Cash Rewards Mastercard (QC residents only)*
- No annual fee
- Earn $125 cash back on keeping account open and active for six months (apply by February 28, 2023)
- Earn 1.5% cash back on up to $6,000 of online purchases (including streaming services, online subscriptions and food delivery)
- Earn 1% cash back on gas, grocery and drugstore purchases.
- 0.5% cash back on (almost) everything else
- *Terms and Conditions apply
- ®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
Since there is no annual fee, there is a $125 cash back bonus without any spending requirement in the first year.
April 2023
Scotia Momentum Visa Infinite Card
- $120 annual fee (first year fee waived for applying before April 30, 2023)
- $50 annual fee for a supplementary cardholder
- Earn 10% cash back on all purchase in the first 3 months or up to $2,000 in spending (apply before April 30, 2023)
- Earn 4% cash back for every $1 spent on grocery purchases and recurring bill payments
- Earn 2% cash back for every $1 spent on gas and daily transit
- Earn 1% cash back for every $1 spent on all other purchases
- Have at least $60,000 in personal annual income, $100,000 in annual household income or $250,000 in assets under management
Cardholders can earn up to $200 (10% x $2,000) in cash back on the 10% cash back. By factoring in the annual fee waiver and let’s say they maximise the 4% multiplier bonus (4% x $2,000 = $80), they would earn $120 ($200 – $80) in bonus cash back in the first year.
May 2023
Tangerine Money-Back Credit Card
- No annual fee
- Earn 10% cash back on the first $1,000 in spending on all purchases or up to 2 months (apply before May 2, 2023)
- Earn 2% cash back on choice of 2 categories (3rd choice if you deposit the cash back into your Tangerine Savings Account)
- Earn 0.5% cash back on all other purchases
Tangerine recently ended their last offer on January 31, 2023. Now they have a reduced offer.
Cardholders can earn up to $100 (10% x $1,000) in cash back on the 10% cash back. By subtracting the 2% (2% x $1,000 = $20) cash back they otherwise would have earned, and with no annual fee, that comes out to $80 ($100 – $20) in bonus cash back in the first year.
- No annual fee
- Earn 10% cash back on the first $1,000 in spending on all purchases or up to 2 months (apply before May 2, 2023)
- Earn 2% cash back on choice of 2 categories (3rd choice if you deposit the cash back into your Tangerine Savings Account)
- Earn 0.5% cash back on all other purchases
Tangerine recently ended their last offer on January 31, 2023. Now they have a reduced offer.
Cardholders can earn up to $100 (10% x $1,000) in cash back on the 10% cash back. By subtracting the 2% (2% x $1,000 = $20) cash back they otherwise would have earned, and with no annual fee, that comes out to $80 ($100 – $20) in bonus cash back in the first year.
- $120 annual fee (first year fee waived if you apply before May 28, 2023)
- $50 annual fee for supplementary cardholders
- Earn 10% cash back on all purchases (for the first 3 months, up to $2,000 in spending or $200 in cash back) (apply before May 28, 2023)
- Earn 3% cash back on gas, grocery and recurring bill payments thereafter (on first $15,000 in annual spending per category, including the 3 month bonus promotion)
- Earn 1% cash back on all other purchases
- Have at least $60,000 in personal annual income or $100,000 in annual household income
Cardholders can earn up to $200 (10% x $2,000) in cash back on the 10% cash back. By factoring in the annual fee waiver and let’s say they maximise the 3% multiplier bonus (3% x $2,000 = $60), they would earn $140 ($200 – $60) in bonus cash back in the first year.
July 2022
BMO CashBack World Elite MasterCard
- $120 annual fee (waived the first year for applying before July 31, 2023)
- Earn 10% cash back on all purchase in the first 3 months or up to $2,000 in spending (apply before July 31, 2023)
- Earn 1.5% cash back on all purchases
- Have at least $80,000 in personal annual income or $150,000 in annual household income
Cardholders can earn up to $200 (10% x $2,000) in cash back on the 10% cash back. By factoring in the annual fee waiver and if they had earned the regular 1.5% (1.5% x $2,000 = $30), they would earn $170 ($200 – $30) in bonus cash back in the first year.
Permanent 10% and above cash back offers
The list below are cards that offer at least 10% cash back with no expiry date. Having no expiry date also means that the feature can be changed at any time without any notice, so they are essentially day-by-day.
- $29 annual fee (first year fee waived)
- Earn 10% cash back on all purchases made in the first 3 months (up to $1,000 spend)
- Earn 2% cash back on eligible U.S. dollar purchases
- Earn 1% cash back on all other purchases
- Earn 30% more cash back redemption for Rogers purchases
- Receive 5 free “Roam Like Home” days every year
Cardholders can earn up to $100 (10% x $1,000) in cash back on the 10% cash back. By factoring in the annual fee waiver and if they had earned the maximum 2% (2% x $1,000 = $20), they would earn $80 ($100 – $20) in bonus cash back in the first year.
- No annual fee
- Earn 10% cash back on restaurants and bars purchases on up to $500 in spending or within the first 4 months (whichever comes first)
- Earn 4% cash back on restaurants and bars (after the bonus offer expires)
- Earn 1.5% cash back on gas, groceries, drugstore purchases and pre-authorized payments
- Earn 0.5% cash back on all other purchases
- Have at least $15,000 in personal annual income
Cardholders can earn up to $50 (10% x $500) in cash back on the 10% cash back. By subtracting the maximum 4% (4% x $500 = $20) cash back they otherwise could have earned, and with no annual fee, they would earn $30 ($50 – $20) in bonus cash back in the first year.
Other lists
Also, note that we also have two other top monthly lists ongoing. Below are the most current ones:
Did we miss any credit cards? Please let us know in the comment section below!