Share this feature:
Tweets by RewardsCanada
LATEST TOPICS & NEWS
REWARDS CANADA'S TOP FEATURES
For nine years we've ranked the top travel rewards credit cards here on Rewards Canada and many years ago we started providing coverage on cash back cards as well. What we never did was rank them. Well that has all changed now as Canada's leading loyalty and rewards resource, we are proud to announce our first ever Canada's Top Cash back Credit Card rankings!
We'll be honest with you, these rankings were supposed to come out at the start of March but we learned about changes to two cash back cards in our market and that screwed everything up. Now that we know what the changes are that happened to the Tangerine Money Back MasterCard and the SimplyCash Preferred Card from American Express we're glad we waited. If we didn't we would have ranked the SimplyCash Preferred in fourth place and the mbna Rewards World Elite MasterCard in first. However as of today, April 11th, the SimplyCash Preferred Card became a whole lot better and knocks the mbna card out of the first place ranking that we were going to award it. It was close however. Both cards now offer a straight 2% Cash back. A very strong offering from both. Both have similar annual fees, SimplyCash at $99 (up from $79 with the changes today) and the mbna card $89. Where the SimplyCash card gets mbna is on the sign up bonus and the insurance package. mbna gives you 10,000 points as a sign up offer which is worth $100 while SimplyCash gives you 5% back for the first 6 months capped at $300 which is the equivalent of a $180 sign up bonus. Then you look at the insurance benefits and the SimplyCash blows away mbna with travel medical, flight delay, baggage delay and hotel/motel burglary insurance, all of which mbna does not offer. The one perk mbna has over the SimplyCash Preferred card is acceptance. Being a MasterCard you can use it more places than the SimplyCash card. The beauty in this however is that we always recommend that you carry a Visa, a MasterCard and an American Express card in your wallet. So if you are all about cash back there is no harm in getting both the mbna Rewards World Elite MasterCard and the SimplyCash Preferred card. By doing so you'll know you are always getting a 2% return, have great travel insurance coverage and pretty much shop anywhere with both cards in hand. Rounding out the top 5 are the Scotia Momentum Visa Infinite Card, the BMO CashBack World Elite MasterCard and the Scotiabank Gold American Express Card.
To see all the cards we considered and to learn about all the rewards and benefits on all the cards visit Rewards Canada's Cash Back Credit Card Comparison Chart. You'll also want to visit our Ultimate Cash Back Credit Card Portfolio to see what we think is the best combination of cards for your wallet.
We compared well over 20 cash back card options for Canadians for the best of the best and from those comparisons these are our picks for the Top Cash Back Credit Cards in Canada:
Care to comment on what we chose as the best cash back rewards credit cards? Want to voice your opinion on the good and the bad of all the cash back Credit Cards in Canada. Share you views and experiences in the comment section below or on Facebook and Twitter for Canada's Top Cash Back Credit Cards 2017!
Rewards Canada can be found on the following social media channels: