Highest Current Cash Back Promotions (at least 5% and up)

As you already know, we publish a monthly Top Cash Back Credit Card Offers. That mostly lists higher than normal bonus promotions. However, with several significant cash back offers, I thought I’d give another type of list a try. The reason is because the industry seems to be putting a lot more emphasis on cash back offers.

Since Pointshogger is about maximing rewards for Canadians, I’ve always told myself that if the industry were to ever shift towards cash back, miles and points would have to take a back set. Unfortunately (or fortunately, depending on how you see it) in Canada, there were many co-branded airline and hotel credit cards that have discontinued over the past few years.

Let’s take a look at the current top cash back bonus offers, ranked by the promotional percentage with at least 5%. If there is a deal breaker, I put the card with the lower annual fee first.

Simplii Financial Cash Back Visa Card

• No annual fee
• Earn 10% cash back on restaurants and bars (up to $500 in spending or within the first 4 months) (no time limit specified)
• 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

Scotia Momentum Visa Infinite Card

• $99 annual fee (first year fee waived if you apply before February 28, 2019)
• $30 annual fee for a supplementary cardholder
• Earn 10% cash back on first $2,000 in spending or within the first 3 months (whichever is completed first) (if you apply before February 28, 2019)
• Earn 4% cash back for every $1 spent on gas and grocery purchases
• Earn 2% cash back for every $1 spent on drug store purchases and recurring bill payments
• Earn 1% cash back for every $1 spent on all other purchases

TD Cash Back Visa Infinite Card

• $120 annual fee
• $50 annual fee for supplementary cardholders
• Earn 9% cash back on gas, grocery and recurring bill payments (for the first 3 months or first $3,500 in spending if you apply before December 3, 2018)
• 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

MBNA Smart Cash Platinum Plus MasterCard

• No annual fee
• Earn 5% cash back on gas and groceries (for the first 6 months, up to $500 spending per month) (ongoing offer)
• Earn 2% cash back on gas and groceries (after the first 6 months, up to $500 spending per month)
• Earn 0.5% cash back on all other purchases

MBNA Smart Cash World MasterCard

• $39 annual fee
• Earn 5% cash back on gas and groceries (for the first 6 months, up to $500 spending per month) (ongoing offer)
• Earn 2% cash back on gas and groceries (after the first 6 months, up to $500 spending per month)
• Earn 1% cash back on all other purchases

American Express SimplyCash Preferred Card

• $99 annual fee
• No annual fee for a supplementary cardholder
• Earn 5% Welcome bonus cash back on all purchases for the first 6 months (up to $6,000 in purchases or $300 cash back) (ongoing offer)
• Earn 2% cash back on all other purchases and when the Welcome 5% ends