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Email this5:37 pm
May 11, 2023
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We have 3 Cash Back Cards and my wife has 1 zero Cash Back card way back from the years of having it mailed to her with no application done (babies also received them as well)
All are no annual fee.
Some have Caps on the amounts.
The Nitty Gritty
Amex Simply Cash
1.25% on all else
2% on gas
2% on groceries
Foreign exchange fee 2.5%
BMO MC CashBack
.5% on all else
1% on recurring bills
3% on groceries
Foreign exchange fee 2.5%
Rogers MC Elite
1.5% on all else
3% on US$ purchases
Foreign exchange fee 2.5%
Home Trust Visa
1% on all else
Foreign exchange fee 0%
Foreign purchases 0%
Looks like I have to review what I use for what ... that is as long as the gas I buy is not coded as a grocery store.
Any other better choices?
Any errors?
6:36 pm
January 12, 2019
Online
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We have two no-fee Cash-Back CCs . . .
Tangerine Money-Back CC
2% on 'Groceries'
2% on 'Gas'
2% on 'Recurring Bills'
0.5% on 'Other Stuff'
We also have Capital One CC (which we use for the 'Other Stuff') @ 1% cash-back on everything.
Two CCs are enough for us. 
- Dean
" Live Long, Healthy ... And Prosper! "
6:48 pm
April 6, 2013
Offline
The AMEX and BMO MC should read as follows:
Amex Simply Cash
1.25% on all else
2% on purchases from standalone gas stations in Canada
2% on purchases from standalone grocery stores in Canada
Foreign exchange fee 2.5%BMO MC CashBack
.5% on all else
1% on purchases marked as recurring bill payments
3% on purchases from grocery stores (with Merchant Category Code 5411)
Foreign exchange fee 2.5%
Merchants don't usually transmit Level 3 item level info for charges to personal credit cards in Canada. So, the card issuer doesn't know exactly what was purchased.
7:41 pm
November 3, 2022
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CIBC Costco Mastercard is no fee, with 1-2% cash back depending on which type of purchase, plus a 2.5% exchange markup on foreign currency.
Perhaps it should not be considered no fee, since you have to pay a fee to Costco to be a member and thus be eligible for the credit card?
2:31 am
November 18, 2017
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The Amex Simply Cash works very well for me. The only significant spending category I don't get the 2% on is restaurants, and 1.25% isn't bad anyway.
My Amex Blue Sky card is better for travel and hotels (and restaurants in hotels) but I do so little of that I'd reach the redeemable level only after about 5-7 years. So I put the hotel restaurants on the Simply Cash. Other than that, it's just an extra amount of credit should I ever need it.
RetirEd
RetirEd
4:42 am
March 30, 2017
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If u bank with the big5 and have significant assets via their brokerage or GIC etc, check to see if they have banking packages that offer their prem cc for free. Banking packages are free too in my case.
Prem cc offers better rebates and perk and priced into their normal $150-200 annual fee.
7:55 pm
September 8, 2018
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We use the Scotia Momentum VISA Infinite as our main card. Has an annual fee but the cash back (esp the 4% level) more than makes up for it. You need a certain household income to qualify.
4% on groceries and recurring payments
2% on gas and daily transit
1% on everything else
Includes insurance and other good perks as well.
They have a special offer on right now - Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on additional cards.
https://www.scotiabank.com/ca/en/personal/credit-cards/visa/momentum-infinite-card.html
4:55 am
December 12, 2009
Offline
Good overview, Pewter.
+1 for American Express SimplyCash from me. It gets even better. The 2% on gas purchases is uncapped. 2% groceries is up to the first $15,000 in annual grocery spending ($300 in grocery reward cash back dollars issued) , then 1.25% thereafter. 🙂
Cheers,
Doug
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