Cash back is the most straightforward type of reward – where spending money gives you a little money back. There are several ways to get cash back on your purchases in Canada, including credit card rewards, cash back apps, and even cash back mortgages.
Take a look at some of the easiest ways to earn cash along with some of the best credit cards for putting money back into your pocket. We’ll even highlight top apps and websites that give extra earning opportunities.
Key Takeaways
- Cash back credit cards give you points or a percentage of cash back of each purchase you make.
- Some credit cards give extra cash back for making purchases with partnering retailers or in specific categories.
- Your cash back credit card might pay out once a year or allow you to request cash back whenever you’ve earned the minimum redemption amount.
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How cash back works
Cards that offer cash back give you a small percentage back for making purchases or completing specific tasks. Sometimes, you’ll see cash back listed as a lump sum instead of a percentage.
The amount you'll receive can vary greatly, depending on factors like the product purchased, the credit card used, or the store you're shopping at.
Depending on where you're getting the cash back from, you can receive your cash back:
- Immediately
- Monthly
- Annually
- After reaching a certain cash back threshold
- On demand
Some products will even let you choose whether you would like cash back straight to a bank account, as a gift card, or as a statement credit to your credit card. Some may be flex rewards cards – which means they actually earn rewards points that can be used for many different things, including redeeming them for cash back.
Top cash back credit cards in Canada
Before we dive into the details, take a quick look at the best cash back credit cards in Canada.
| Cash Back Credit Card | Welcome Bonus | Rewards | Annual Fee, Income Requirements | Apply Now |
|---|---|---|---|---|
| MBNA Rewards World Elite Mastercard |  $150 GC Boost + 30,000 bonus points (terms) | * 5 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $50,000 spent annually per category) * 1 point per $1 spent on all other purchases | * $120 * $80k personal, $150k household | Apply Now |
| American Express Cobalt | Up to 15,000 bonus points (terms) | * 5 points per $1 spent on eligible groceries and restaurants * 3 points per $1 spent on eligible streaming services * 2 points per $1 spent on eligible gas, transit, and ride share purchases * 1 point per $1 spent on foreign currency purchases * 1 point per $1 spent on all other purchases | * $155.88 * None | Apply Now |
| Scotia Momentum Visa Infinite Card | $20 GeniusCash + 10% cash back for the first 3 months, first year free (terms) | * 4% cash back on groceries and recurring bill payments * 2% cash back on gas and transit * 1% cash back on all other purchases | * $120, first year free * $60k personal, $100k household | Apply Now |
| BMO CashBack World Elite Mastercard | $150 GeniusCash + Up to $480 cash back in the first year, first year free (terms) | * 5% cash back on groceries, up to $500 in monthly spend * 4% cash back on transit, up to $300 in monthly spend * 3% cash back on gas, up to $300 in monthly spend * 2% cash back on recurring bills, up to $500 in monthly spend * 1% cash back on all other purchases | * $120, first year free * $80k personal, $150k household | Apply Now |
Best overall: MBNA Rewards World Elite Mastercard
×4 Award winner 
GC: $125 + $25
4x Award winner Pros:
- Up to 30,000 bonus points
- Up to 5 points per $1 spent on purchases
- 10% bonus points every year on your birthday
- Includes 12 types of insurance
Cons:
- High income requirements of either $80,000 personal or $150,000 household
Runner up: American Express Cobalt
×8 Award winner Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
8x Award winner Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
Pros:
- Best overall credit card in Canada
- Get up to 15,000 welcome bonus points
- Earn up to 5 points per $1 spent on purchases
- 4 ways to redeem points for high value
- Includes 10 types of insurance
Cons:
- Lower acceptance as an American Express
Best for recurring bills: Scotia Momentum Visa Infinite
GC: $20
Pros:
- 10% cash back for the first 3 months, up to $2,000 in spend
- Up to 4% cash back on purchases, including on recurring bills
- Includes 11 types of insurance
Cons:
- High income requirements of $60,000 personal or $100,000 household
- Rewards only paid out once per year as a statement credit
Best versatility: BMO CashBack World Elite Mastercard
GC: $150
Pros:
- Get up to $480 in bonus cash back and no annual fee in the first year.*
- Up to 3% cash back on purchases
- Includes 13 types of insurance
- Roadside assistance included
- Redeem cash back on demand
- Save up to 7 cents per litre at Shell
Cons:
- Low monthly spend caps on bonus categories
- High income requirements of $80,000 personal or $150,000 household
GeniusCash offers: Credit cards with EXTRA cash back
Earning cash back with the top credit cards is one thing, but what if you want a lump sum of cash back right now?
GeniusCash offers can help you out. All you have to do is apply and get approved through creditcardGenius and you'll get a cash bonus right to your PayPal account or your bank account via Interac e-Transfer.
Here's a look at your current offers for GeniusCash.
| Credit Cards with EXTRA Cash Back | GeniusCash Offer | Welcome Bonus | Annual Fee, Income Requirements | Learn More |
|---|---|---|---|---|
| Tangerine Money-Back Credit Card | * $125 GeniusCash | 10% extra cash back for the first 2 months (terms) | * $0 * $12K personal | |
| Tangerine World Mastercard | * $125 GeniusCash | 10% extra cash back for the first 2 months (terms) | * $0 * $60K personal or $100K household | |
| MBNA True Line Mastercard | * $135 GeniusCash | 0% interest on balance transfers for 12 months (terms) | * $0 * None | |
| MBNA Rewards World Elite Mastercard | * $150 GeniusCash | 30,000 bonus points (terms) | * $120 * None | |
| Scotiabank Gold American Express Card | * $60 GeniusCash | Up to 50,000 bonus points, first year free (terms) | * $120 * $12K personal | |
| TD First Class Travel Visa Infinite Card | * $25 GeniusCash | Up to 165,000 bonus points (terms) | * $139 * $60K personal or $100K household | |
| TD Rewards Visa Card | * $20 GeniusCash | Up to 15,152 bonus points (terms) | * $0 * None | |
| Loop Card | * $100 GeniusCash | None | * $0 * None | |
| KOHO Essential Mastercard | * $100 GeniusCash | $20 after the first purchase | * $48 * None | |
| KOHO Extra Mastercard | * $100 GeniusCash | $20 after the first purchase | * $144 * None | |
| KOHO Everything Mastercard | * $100 GeniusCash | $20 after the first purchase | * $177 * None | |
| BMO CashBack Business Mastercard | * $100 GeniusCash | 10% cash back on gas, office supplies, and recurring cell phone/internet bill payments for the first 3 months (terms) | None |
Cash back mortgages
To help you out with all the costs associated with homebuying, some banks allow you to receive cash back when advancing a mortgage, called a cash back mortgage.
The amount you'll receive varies by the bank, but is usually around 5% of the mortgage amount. There are also usually caps on the amount of cash back that can be received.
In some cases, you can receive a cash rebate for switching or transferring your mortgage to a new bank. This is usually a flat fee, depending on the amount of the mortgage principal.
Several banks offer cash back mortgages. Many of these offers are to entice you to switch your mortgage to them:
| Bank | Cash Back Offer | Offer Terms | Offer Date Snapshot |
|---|---|---|---|
| BMO | * Up to $4,100 on a mortgage loan of at least $100,000 | * 3-year or more fixed or variable rate mortgage | * Until August 29, 2025 * Learn more |
| RBC | * $4,000 to $7,000 on mortgage loan of $100,000 * $8,000 to $14,000 on mortgage loan of $200,000 * $16,000 to $20,000 on a loan of $400,000 | * 1-year or more fixed rate | * Learn more |
| TD | * Up to $4,000 on a loan of at least $100,000 * Bonus $1,100 by switching mortgage to TD | * 3-year or more closed term | * Until August 31, 2025 * Learn more |
| CIBC | *Up to $4,500 on a loan of at least $100,000 when you switch to CIBC | * 3-year or more closed term or 5-year or more variable term | * Until September 2, 2025 * Learn more |
| National Bank | * up to $3,500 on a loan of at least $100,000 | * 4-year or more fixed term or 5-year or more variable term | * Until November 4, 2025 * Learn more |
Note: Offers could change at any point, so for the most up-to-date offers and promotions, be sure to visit these sites directly.
Cash back apps
Another way to earn cash back is by taking advantage of retailer-specific offers with cash back apps and websites. Typically, you’ll have to click the link on a site or app before completing your purchase in order to earn a discount or cash back.
Here’s an overview of some of the most popular apps that help save you money or earn cash back:
| App or site | Ways to earn | Example offer |
|---|---|---|
| KOHO | * Round up on purchases * Make purchases through the app and earn a percentage back * Earn bonus cash back by shopping with retail partners | * 2.6% cash back on Booking.com * 3.9% cash back on Clinique purchases |
| Rakuten | * Earn cash back for in-store and online purchases * Earn cash back for referring friends * Extra cash back offers | * 5% cash back on HP purchases * 2% cash back at Sephora |
| Great Canadian Rebates | * Earn cash back for purchases with retail partners * Get extra cash back by choosing an e-gift card for payout * Earn discounts, coupons, and rebates * Earn 25% on what a referring friend earns | * Up to 0.5% cash back at Walmart Canada * Up to 1.2% cash back on eBay purchases |
| Swagbucks | * Earn cash back by making purchases, taking surveys, and playing games | * Up to 4% cash back on Best Buy purchases * Up to 8% cash back on Macy’s purchases |
| Checkout51 | * Load offers, buy items, and upload a picture of your receipt * Make online purchases with the link * Complete surveys * Refer friends | * $5 cash back on any size Huggies diapers * $1 cash back on 1 box Kashi snack bars |
| Drop | * Shop online with partnering merchants * Link credit or debit card to app so purchases earn cash back points * Extra points on flash deals, one-time offers, surveys, and games | * 15 cash back points per $1 spent at Safeway * 45 cash back points per $1 spent at CVS |
FAQ
Where can I get cash back in Canada?
You can earn cash back for purchases of just about anything in Canada – in person and online. Just use a cash back credit card or take advantage of cash back apps and websites. Better yet, do both!
Can you get cash back at Canadian grocery stores?
Yes, especially if you use the Scotia Momentum Visa Infinite Card, which earns 4% cash back on grocery store purchases. We also like the Amex Cobalt, which gets you 5 points per $1 spent at the grocery store.
What are the best cash back credit cards?
The MBNA Rewards World Elite Mastercard and American Express Cobalt are some of the best cash back credit cards, offering the highest rates of return on your purchases along with fantastic benefits like insurance coverage.
What’s the best cash back app?
The best cash app is probably going to look different for every person, since different apps work with different retailers. The best cash back app for you is the one that matches your shopping style and spending habits.
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