Here are the best cash back credit cards in Canada for 2026
Those looking to make the most bang for their buck this year may want to consider switching credit cards. Luckily, if you live in Canada, there are plenty to choose from.
Rewards Canada, a loyalty program and credit card rewards resource, released its list of best cash back credit cards for 2026 on Monday.
The report was researched and compiled by expert Patrick Sojka. He noted that while the ranking relies heavily on actual cash back earned, the best credit cards in Canada for you may not necessarily be number one on the list, depending on your needs.
“Where do you use your credit card the most? Groceries, Gas, Travel, Restaurants? We have a set percentage breakdown for our rankings of 30 per cent to groceries, 5 per cent to gas, 10 per cent to dining and so forth. This breakdown may be different for you, so it may affect which card you go for,” the report reads.
Other factors Canadians may consider are card acceptance, frequent access to cash back and insurance benefits.
Top cash back credit cards in Canada with an annual fee
American Express
The number one spot goes to SimplyCash Preferred Card from American Express for the fifth year in a row.
Sojka credits this to the up to $250 in welcome bonus cash back in the first 13 months, four per cent back on gas and groceries and two per cent back on all other spending.
“In the first year, it blows the competition away with its cash back earning and still eclipses all other cards year after year with its everyday earn rates,” reads the report.
The only downside? You can only access cash back once per year. This credit card will allow you to earn $350 to over $1,430 in the first year, and $200 to over $1,280 each year after that.
Rounding out the best cash back credit cards in Canada with an annual fee are the following:
- MBNA Rewards World Elite Mastercard
- American Express Cobalt Card
- Neo World Elite Mastercard
- Scotia Momentum Visa Infinite Card
Check out the report for more details on cash back earnings.
Top cash back credit cards with no fee
Rogers
The top no-fee cash back credit card is the Rogers Red World Elite Mastercard. It offers a flat 1.5 per cent cash back on all purchases with no annual caps.
If you frequently travel to the United States or do online shopping there, this card bumps purchases in the U.S. to three per cent cash back.
“If you are a Rogers customer, the 1.5 per cent cash back rate gets bumped up to 2 per cent on all spending, and when the cash back is redeemed towards Rogers services or purchases, they give 50 per cent extra value for a total of 3 per cent cash back,” reads the report.
The credit card also comes with an airport lounge membership, which provides discounted entry fees and free global data roaming.
“It also has a very good insurance benefits package for a no-fee cash back card,” adds the report. This credit card will let you earn $150 to over $750 in the first year and each year after that.
Other top no-fee cash back credit cards in Canada include:
- SimplyCash Card from American Express
- Tangerine Money-Back Credit Card
- Simplii Financial Cash Back Visa Card
- Neo World Mastercard
Check out the report for more details on cash back earnings.
There are plenty of other options if cash back isn’t your priority. Check out the best credit cards in Canada for 2026.