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If you’re looking to get cash back on your daily purchases, there are plenty of credit cards that can help.
Rewards Canada recently released its ranking of the top cash back credit cards for 2025 to help with your search.
The resource for loyalty and credit card rewards shared lists of the best cash back credit cards with an annual fee and with no fee.
Best cash back credit cards with an annual fee
1. American Express’s SimplyCash Preferred Card
This credit card took the top spot for the fourth year in a row because of its up to $250 in welcome bonus cash back in the first 13 months. Using this card will also get you 4 per cent back on gas and groceries and 2 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,” said Rewards Canada. “We just wish they would move away from awarding the cash back once per year with this card!”
Cash back earnings:
Year 1: About $350 to $1,430+
Each year after that: About $200 to $1,280+
Access to cash back: Once per year
2. MBNA Rewards World Elite Mastercard
This card takes the second spot for cash back but is also ranked fifth best for travel rewards in Canada. It has a cash back redemption rate of 120 points for $1, a 1 to 5.5 points earn rate, which translates to 0.833 per cent to 4.58 per cent cash back on spending, and a welcome bonus of up to 30,000 points, which is worth $240 in cash back alone.
Cash back earnings:
Year 1: About $376 to $1,403+
Each year after that: About $136 to $1,163+
Access to cash back: Cash out anytime your reward balance reaches 6,000 points ($50)
3. American Express Cobalt Card
This credit card is also Rewards Canada’s top travel rewards credit card for eight years running.
“With a Use Points for Purchases (statement credit) redemption rate of 1,000 points for $10, this card earns a healthy 1 per cent, 2 per cent, 3 per cent and 5 per cent cash back on spending,” reads the ranking.
Despite its $12.99 monthly fee, the ranking says this card’s cash back earnings beat most of the other cards on the list. It has a welcome bonus of up to 15,000 points, which is worth $150 in cash back.
Cash back earnings:
Year 1: About $264 to $1,344+
Each year after that: About $114 to $1,194+
Access to cash back: Cash out anytime your reward balance reaches 1,000 points ($10)
4. Neo World Elite Mastercard
This credit card, which was released last November, debuts in fourth spot on the ranking.
“The card offers an excellent 5 per cent cash back on groceries, 4 per cent cash back on recurring bills and 3 per cent on gas,” said Rewards Canada. “It also has additional cash back earning opportunities when using the card at Neo’s partner network of merchants. All other spending earns 1 per cent cash back.”
Your earn rate can be increased if you hold funds in a Neo Everyday account.
“For example if you hold $10,000 with them you’ll receive 7 per cent cash back on groceries, 5 per cent on recurring bills and 4 per cent on gas,” reads the ranking. “The grocery and gas categories having monthly spending caps of $1,000 while recurring bills are capped at $500 per month.”
Cash back earnings:
Year 1: About $135 to $1,025+
Each year after that: About $135 to $1,025+
Access to cash back: Cash back can be redeemed anytime your rewards balance reaches $1
5. CIBC Dividend Visa Infinite Card
This credit card currently features a first-year annual fee rebate and a 10 per cent cash back welcome bonus of up to $300.
“Add in a strong 4 per cent cash back on groceries and gas plus 2 per cent cash back on eligible transportation, dining purchases and recurring payments and you have a high earning cash back card,” reads the ranking.
It notes users should be aware that 4 per cent and 2 per cent categories are capped $20,000 spend annually. Rewards Canada says it also has great insurance benefits for a cash back card.
Cash back earnings:
Year 1: About $461 to $1,288+
Each year after that: About $110 to $930+
Access to cash back: Cash out anytime your reward balance reaches $25.
Best cash back credit cards with no fee
1. Rogers Red World Elite Mastercard
This credit card takes the top spot for the second year in a row. It offers a flat 1.5 per cent cash back on all purchases with no annual caps.
Purchases in US dollars will get bumped up to 3 per cent cash back, making it perfect for those cross-border grocery trips.
“If you are a Rogers customer the 1.5 per cent cash back rates 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 ranking.
It also comes with an airport lounge membership, which gives you discounted entry fees and free global data roaming. Rewards Canada says it comes with a great insurance benefits package for a no-fee cash back card.
Cash back earnings:
Year 1: About $150 to $750+
Each year after that: About $150 to $750+
Access to cash back: Cash out anytime your rewards balance reaches $10
2. American Express’s SimplyCash Card
This second-place card earns slightly more cash back than the Rogers World Elite Mastercard based on Rewards Canada’s spending breakdown, but the Rogers Card edges it out with a better acceptance rate and more benefits.
“till, the SimplyCash Card is an excellent choice that offers 2 per cent cash back on gas and grocery purchases (grocery is capped at $12,000 in spend annually) and then 1.25 per cent on all other purchases. It’s welcome bonus also provides up to $100 extra in cash back rewards,” reads the ranking.
Cash back earnings:
Year 1: About $251.25 to $856.25+
Each year after that: About $151.25 to $756.25+
Access to cash back: Once per year
3. Tangerine Money-Back Credit Card
This credit card is used best when you combine it with a free Tangerine savings account so you can earn 2 per cent cash back in three categories of spending, according to Rewards Canada.
“Being able to select which categories you can earn 2 per cent cash back is great as you can really maximize your returns on the places where you spend the most,” reads the ranking. “All other spending on the card earns 0.5 per cent cash back which is what keeps this card from being even higher up the ranks.”
The credit card offers a welcome bonus of 10 per cent cash back on up to $1,000 of spending in the first two months of having it.
Cash back earnings:
Year 1: About $225 to $725+
Each year after that: About $125 to $625+
Access to cash back: Cash back is awarded automatically on a monthly basis
4. Simplii Financial Cash Back Visa Card
This credit card moved up one spot for 2025, providing 4 per cent cash back on eligible restaurant, bar and coffee shop purchases (up to $5,000 spend annually).
It also earns 1.5 per cent cash back on eligible gas, groceries, drug stores and pre-authorized payments (up to $15,000 spend annually) and then 0.5 per cent on all other spending.
Cash back earnings:
Year 1: About $217 to $663+
Each year after that: About $130 to $575
Access to cash back: Once per year
5. Neo World Mastercard
This card makes its debut in the top five.
“The card offers an excellent 2 per cent cash back on groceries, recurring bills and gas. It also has additional cash back earning opportunities when using the card at Neo’s partner network of merchants. All other spending earns 0.5 per cent cash back,” reads the ranking.
The earn rates can be increased if you hold funds in a Neo Everyday account.
“For example if you hold $10,000 with them you’ll receive 4 per cent cash back on groceries, recurring bills and gas,” explained Rewards Canada. “The grocery and gas categories having monthly spending caps of $1,000 while recurring bills are capped at $500 per month.”
Cash back earnings:
Year 1: About $117 to $527+
Each year after that: About $117 to $527+
Access to cash back: Cash back can be redeemed anytime your rewards balance reaches $1
