April is here, and unfortunately, we’re in a much different world right now thanks to COVID-19.
So for the time being, we all have to make due in our social distancing world. But just because our lives have temporarily changed, doesn’t mean the bills have stopped coming in.
In fact, now is a great time to examine what credit cards are in your wallet. And since travel is off the table for a bit, we’ve listed plenty of top cash back and low interest cards to give you more immediate relief right now.
There’s also a few flexible rewards cards, where you can still save up for a getaway for when life goes back to normal, or get more immediate help if you need it.
One thing to note about cash back cards – many (but not all) of them only give your cash back as a statement credit once per year. So for those cards, we’ve also indicated when you can expect to receive your cash back.
|Credit Card||Credit Card Offer||Annual Fee||Income Requirements||Apply Now|
|SimplyCash Card from American Express||* 2.5% cash back on all purchases for 3 months (terms)||$0||None||Apply Now|
|TD Cash Back Visa Infinite*||* 6% cash back on all purchases for the first 3 months (terms)
* Offer ends May 31, 2020
|$120, annual fee rebate for the first year||60K personal/100K household||Apply Now|
|American Express Cobalt™||* Up to 30,000 welcome bonus points (terms)
* Best credit card in Canada
|$120, charged out as $10 per month||None||Apply Now|
|Brim Mastercard||* $200 worth of points (terms)||$0||15K personal||Apply Now|
|MBNA Rewards World Elite® Mastercard®||* 30,000 bonus points (terms)||$120||80K personal/150K household||Apply Now|
|KOHO Prepaid Visa||* 1.5% cash back for 3 months (terms)||$0||None||Apply Now|
|MBNA True Line® Mastercard®||* 0% interest for 10 months – best balance transfer offer in Canada (terms)||$0||None||Apply Now|
|Scotiabank Momentum Visa Infinite||* 10% cash back on all purchases for 3 months (terms)
* Offer ends April 30, 2020
|$120, first year free||60K personal/100K household||Apply Now|
|Home Trust Secured Visa||* None||$0||None||Apply Now|
|MBNA True Line® Gold Mastercard®||* 0% interest for 6 months (terms)||$39||None||Apply Now|
|BMO® CashBack® World Elite®* Mastercard®*||* 5% cash back on all purchases for the first 3 months (terms)
* Offer ends October 31, 2020
|$120, first year free||80K personal/150K household||Apply Now|
2.5% cash back on all purchases for 3 months & no annual fee
For high cash back earn rates, a great welcome bonus and no annual fee, the
To get you started, you can earn 2.5% cash back on every purchase in the first 3 months, on the first $6,000 in spend. That’s $150 in cash back.
After your bonus rate ends, you’ll earn 1.25% cash back on every purchase – no categories or caps to worry about.
And even though it has no annual fee, you’ll still get access to great Amex benefits like Amex Offers, which offers more savings, as well as purchase protection and extended warranty insurance.
When you get your cash back: Every September.
6% cash back and the first year free
One of the top cash back cards in Canada is also running a great sign-up bonus.
Plus, you don’t have to dish any of it out on an annual fee, because you’ll be getting it waived for the first year.
After your welcome bonus has been used up, you’ll be earning 3% cash back on gas, groceries, and recurring bills – capped at $15,000 in spending per year for each category. Afterwards, and on all your other purchases, you’ll get a straightforward 1% back.
One of the best features of this card? Complimentary roadside assistance. And while you may not be driving much right now, it’s one less thing you’ll have to pay if something happens to your car.
When you get your cash back: Anytime you like, as long as you have $25 accumulated.
Best credit card in Canada, up to 30,000 bonus points
Why? Not only can you earn tons of points, but each one is also super valuable.
With the welcome bonus, you’ll earn 2,500 bonus points every month you spend $500 in the first year. That’s a total of 30,000 points.
On top of that, you’ll get:
- 5 points per $1 spent on grocery, bar, and restaurant purchases,
- 2 points per $1 spent on gas and travel purchases (including daily transit), and
- 1 point per $1 spent on all other purchases.
And it’s all for a super manageable $10 monthly fee, instead of an annual fee of $120.
But, what are your points worth?
For travel, you can earn a value of up to 1.75 cents per point with smart redemptions.
However, there are 2 other ways you can use them for some more immediate relief:
- shop at Amazon.ca: 1,000 points for a $7 discount, and
- statement credits: 1,000 points for a $7 statement credit.
There are even more options at your disposal with your Amex Membership Rewards points, which you can learn about here.
While you’re losing some value compared to travel, getting some extra help right now could be worth it.
$200 cash back and bonus rewards for online shopping
For the frequent online shopper, the
On all your purchases, you’ll earn 1 point per $1 spent on every purchase – which can be directly converted to statement credits (so it’s essentially 1% cash back).
Plus when you shop online, you’ll get access to Brim Rewards, where you’ll be able to earn bonus rewards at over 100 online retailers – up to 10% more, depending on the retailer (just note that if you earn bonus rewards you forgo the regular earn rate).
Plus, the card has no foreign transaction fees and 4 types of insurance coverage.
And as one last bonus, you can earn a $200 cash bonus when you make your first purchase at a participating retailer.
When you get your cash back: Apply your cash back as a statement credit or towards a purchase anytime you like.
Or if you want even more from your card, Brim has 2 others to look at as well:
Earn 30,000 bonus bonus points and a return of up to 2% on all purchases
For flexible rewards and a high earn rate on every purchase, the
To get started, you’ll get:
- 20,000 points after spending $2,000 in the first 3 months, then
- 10,000 more when you sign up for e-statements.
On top of that, you’ll earn 2 points per $1 spent on absolutely all of your purchases. With an MBNA Rewards point worth 1 cent when redeemed for travel, that’s a flat 2% return on every purchase.
For more immediate savings, you can also get gift cards. There’s a wide range of gift cards available, including Amazon. Each gift card redemption has a value of approximately 0.89 cents per point, for a return of 1.78%.
Or, you can get statement credits or cheques mailed to you instead. Each point in this case is worth 0.83 cents, for a return of 1.67%.
And as a Mastercard, it’s a great card for Costco lovers.
1.5% cash back on all purchases with our best prepaid card
Want a card for rewards but don’t want a credit card? A prepaid card could be for you. No credit checks are required, and there’s no monthly bill to pay afterwards. You’re simply pre-loading the card ahead of time with your own money and spending it for extra rewards.
If this interests you, the
To start, use our links and promo code CCGBONUS when you apply, and you’ll get 1.5% cash back on all purchases for the first 3 months.
Once your first 3 months have ended, you’ll still earn 0.5% on every purchase. And it’s all for no annual fee, and a lower foreign exchange fee of 1.5%.
Or if you prefer a few more perks, you can go with the
For an annual fee of $84 (or $9 per month instead), you’ll get the same intro rate, 0.5% on all purchases, and an increased rate of 2% on these categories:
- restaurants, and
Plus, you’ll get price protection coverage (which is rare) and 0% fx fees. The best part? If KOHO Premium isn’t for you, you can switch back to regular KOHO any time you like.
When you get your cash back: Your cash back balance is automatically added to your prepaid balance.
0% interest on balance transfers for 10 months, best offer in Canada
If you have some sticky debt hanging around, the best balance transfer offer in Canada is here to save the day (and your credit score).
And unlike many balance transfer offers out there, once the promotional period is over, you can still take advantage of a permanently low 12.99% purchase interest rate rather than have the interest shoot back up to 19.99% or more.
10% cash back for the first 3 months with our top rated cash back card
Our top rated cash back card, the
How much? For starters, you’ll earn 10% on all purchases in the first 3 months, until $200 cash back has been earned.
After that, keep earning plenty of cash back at these rates:
- 4% back on groceries and recurring bills,
- 2% back on gas and transit purchases, and
- 1% back on everything else.
Toss in 11 types of insurance, including the rare mobile device coverage, and it’s a great overall card for those who love their cash.
When you get your cash back: Once per year in November.
Our top secured credit card pick for bad credit
Have really poor credit and want a credit card to help build it back up again? The
You won’t earn rewards (like all secured cards), but it has no annual fee, and a slightly lower foreign exchange fee of 2%.
If you need some lower interest rates, for an annual fee of $59 you could look at the
A permanent low interest rate of 8.99% and 0% on balance transfers for 6 months
For a credit card with low interest rates across the board, the
How low? With this card, purchase and balance transfer rates are 8.99% (cash advances are still a high 24.99%).
It also has a good balance transfer offer as well – 0% interest for 6 months.
All these low rates are why it’s our #1 rated low interest card.
5% cash back for the first 3 months and the first year free
For a premium flat rate cash back card (that’s also accepted at Costco), the
To start, you’ll earn 5% cash back on every purchase for the first 3 months, on your first $4,000 in spend.
After that, a straightforward 1.5% earn rate on everything awaits you. No caps or categories to think about.
And it comes with some premium perks as well:
- free roadside assistance,
- 13 (out of 16) types of insurance, and
- World Elite Mastercard benefits.
To top it off, the first year is currently free as well.
When you get your cash back: Any time you want, as long as you have $50 accumulated.
We want to hear from you
What deal will you take advantage of this month?
Is there one we haven’t mentioned?
Let us know in the comments below.