Insurance coverage: Extended Warranty and Purchase Protection Rental Car Collision/Damage Out-of-Province/Out-of-Country Emergency Medical Trip Interruption and Trip Cancellation.Instantly redeem your cash back rewards towards any eligible purchase in the last 90 days via Mastercard® Pay with Rewards™ app.1.75% cash back rewards on all other eligible purchases.2% unlimited cash back rewards on Rogers™ products and services charged to your card.4% unlimited cash back rewards on all eligible purchases made in a foreign currency.Best Cash Back Credit Cards in Canada (all with no annual fee – updated August 2019): Rogers World Elite Mastercard
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Let’s take a look at how the best free cash back credit cards compare. This year, we have a new winner for the best free cash back credit card in Canada, and it wins by quite a margin in my opinion. Unfortunately, Tangerine reduced their “all other spending” to 0.5% cash back and jacked up their foreign exchange transactions to match the market at 2.5%. At the time, they offered 2% cash back on two spending categories (up to three categories if you opened a savings account with Tangerine), 1% on all other spending, and a 1.5% surcharge for foreign exchange transactions (typically 2.5%). To me, secondary features are insurance coverage for purchases and travel.Ī couple years ago, I named the Tangerine money-back credit card as the best free cash back credit card in Canada. What’s great about high cash back on everyday spending is that it can be paired with a credit card that offers higher cash back on particular categories. What do I look for in a cash back card? If I’m looking for a single “do it all” credit card, then the most important feature is high cash back on everyday spending. In fact, we’ve used our cash back rebate over the past couple of years to offset large “nice to have” expenses like travel. Funneling our spending through a free cash back credit card (or a combination of a couple) gives us a significant cash back bonus at the end of the year. Getting paid to use a credit card combined with no annual fee is a combination that I look for when choosing a credit card. With rewards points constantly depreciating in value, sometimes it’s best to get cold hard cash back. More below.Īfter 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.
The reason why I’m posting it again now is because there have been changes to the best free credit card in Canada.
This post was originally written in 2007 but has been updated annually since.
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