Hi I am currently using CIBC credit card. they give me 2% on the groceries and 1% on gas (all selective).

I just want to know which is the best to go for which would provide me more cash back (without being selective vendors)
I heard wealthsimple but I dont know if it is a safe option considering the credit card provided by the main Banks
I also heard RBC, could you please guide me guys

Thank you in advance

For someone who spends a good chunk using a credit card, what is currently the best card to give some cash back? Preferably monthly, not yearly.

I spend about 56k per year, most is supermarket, gas, eating out, dollar stores, fruits and veggies.

I am thinking about getting the Rogers Red Mastercard but wonder if there is a better option out there, if possible NO FEE too.

I also wonder what Rogers mean by "eligible purchases", I called them and was not informed if gas and supermarket can be considered or not

Thank you

Hi,

As someone who makes 45k a year and whose main expenses are groceries, bills (phone and gym), and public transportation. What's the best cashback credit card I can have ?

I do have the basic cashback card from National Bank, but it only offers 1% cashback, so it's really not much.

I'm also looking if possible for a no anual fee card or low anual fee card.

Thanks,

https://i.redd.it/credit-card-no-annual-fee-cashback-key-v0-3hlm6k0fkjya1.jpg?s=4955c06561fd80291fdc5c17804d928a01055122 - Link to Guide This is an optimized guide for the best return disregarding convenience or the number of cards Cashback preferred over store credit let me know if any suggestions/updates thanks.

• Tangerine Note Optimization For Best Categeries on 2% up to 3 can be selected by user: These Categories for best return with other cards would be Drug Store, Recurring Bills, Entertainment, Furniture, Hotel-Motel, Home Improvement, Parking/ Public Transportation *BMO 500$ per Month 3% Limit if Limit Exceeded Use Canadian Tire World Elite for 3% Cashback on Groceries up to 12,000 Annually

Hey all 👋, I live in Ontario and I’m trying to find a credit card with no annual fee (or free year) that gives either travel rewards (for vacations / all-inclusive trips) or cash back.

Here’s what I’m after:

• A card available to Canadians / Ontario residents.

• No yearly fee or free year.

• Either decent rewards/points for travel, or solid cash back on regular purchases.

I rather use the points towards all inclusive packages vs flight/hotel

If you have any cards you love whether points or cash back, I’d love to hear your experiences. Thanks!

Hello PFC!

So I'm in the market for a new credit card since Wealthsimple removed the 1% cashback from their prepaid MasterCard, my current daily driver. Would y'all be able to recommend a good alternative for me based on my situation? I'm a bit overwhelmed by the available options

Facts:

• I prefer to have one "daily driver" card for everything and at most one other card for recurring payments, for ease of reconciliations (I'm willing to forgo "cardmaxxing" for this)

• I would prefer a no-fee card but if the benefits vastly outweigh the costs, I might be open to it. I'd probably spend something like $500(?) a month, maybe?

• With my credit union: currently have an empty CHQ/SAV and an MC which I use for subscriptions/recurring bills. MC is no-fee with 1% cashback on grocery, gas + sustainable transit, select recurring bills + digital streaming purchases and 0.5% cashback on everything else

• With Simplii Financial: currently have an empty CHQ/SAV, have not yet applied for their Visa CC

• Projected income will likely be somewhere between $55,000-$65,000/year starting January

• Mobile phones are currently on Koodo but not tied to it (if the Rogers MC is a good option). I also currently have our "home" cell phone under Rogers in my name so I'm already considered a Rogers customer.

• I don't plan to own a car for the next few years ideally (although I know how to drive), so unsure how useful the Triangle Rewards MC will be

• I do plan to get a Costco membership shared with my brother when we move out later this year, so their MC could be an option although idk how we'll allocate points

• Too poor to travel for now (╥﹏╥)

Thank you for your help! :)

So I recently had my Visa credit card number stolen (thankfully no charges went through, the bank stopped them so no losses, just the hassle of cancelling the card and getting a new one). But in waiting for my new card to arrive, I spent 2 weeks with no credit card and realized it may be useful to have a second card. So what are the best no fee credit cards available right now in terms of cash back or rewards?

I currently have an RBC cashback card which only gives me 1%. It's nothing! Time to do better.

Hi, Just wanted to see what everyone utilizes for their cash back credit card? Thinking more for staples such as groceries, gas but also open to a general cashback structure?

Open to free or ones with annual fees.

For context, I am not a student anymore (I am age of majority) and this will be my first credit card. I currently bank with Scotiabank. I'm just looking for a basic no annual fee credit card (preferably cashback but open to good travel rewards cards) that I can build good credit. I prefer a bank that has a physical location (so any of the big 5 banks in Canada). I spend the most on rent, groceries/dining out, and re-occuring bills (ex. phone). Things I could care less about: saving money on gas bc I don't drive.

I've been searching around a lot but still am unsure so any help with narrowing down options would be great!

Has anyone developed a solid method for maximizing rewards and cashback on their spending?

For example, combining a great credit card with low fees and high rewards (please give me your suggestions), using apps like Karma or Reebee for cashback on online purchases, and strategically timing purchases around sales.

In this day and age, and by sharing everyone's experiences I feel like we can develop a sort of formula to avoid getting screwed over. I’d love to hear your tips and strategies

Looking for one that doesn’t have an annual fee. I’ve heard of the Tangerine and Simplii cash back cards

Anyone use any good ones?

Hey Everyone, As title suggests, I am planning to get a new credit card mostly for groceries and gas. I am already having standard dividend CIBC card that has 2% on groceries and 1% on gas. I am not getting much of cashback, so looking for better options, pls share your thoughts along with annual fee if applicable, TIA!

Any recommendations for a no fee cash back card (greater than 1.5%) that offers for all categories?

Hey everyone!

I’m looking for a credit card in Canada that has absolutely no fees, no annual fee, no monthly fee, no hidden maintenance fees, no secret surprise fee! My main goal is to get better cashback rates for groceries and gas, ideally 2–3% or higher

Right now my card only gives 1%, which isn’t great for the categories where I spend the most. Also not interested in Rogers cards or anything related to it ( personal preference )

Requirements: • No annual fee • No monthly fee • No other mandatory fees • 2–3%+ cashback specifically for groceries and fuel • Preferably not tied to a specific store brand

Thanks!

Tl;dr

HippityHoppityBoop’s Ultimate No-Annual-Fee Credit Card Stack

Here’s a list of no annual fee credit cards that should get you the highest yield available for each category (unless you’re a Rogers/Fido customer):

1. Simplii Visa: Restaurants

2. Triangle World Elite MasterCard: Groceries, Bill Payments, Gas at Canadian Tire or Petro Canada

3. Amex SimplyCash: Gas (assuming Triangle doesn’t cut it for you)

4. Desjardins Bonus Visa: Transit, Entertainment, Pre-authorized Payments

5. Tangerine MasterCard: Parking/Furniture/Hotels/Drugstores/Home Improvement (switch categories as needed)

6. Rogers World Elite MasterCard: Travel, Amazon, Walmart, Costco, everything else

7. Home Trust Preferred Visa: Foreign Currency Transactions

Caveat for Rogers/Fido customers:

• For all categories, if you are a Rogers/Fido/Chatr/Shaw customer, you can assume a base earning of 3% for all categories since redemption of the cash back from either of the Rogers MasterCard against your Rogers/Fido bill gives a 1.5x bonus, yielding you 3%. I didn’t include that below to avoid repetition.

• You just need to add a Simplii Visa for 4% cash back on restaurant purchases, and you’re done, just 2 cards, unless you want special features like bill payments, no foreign transaction fees, etc.

• If you qualify, go for the Rogers World Elite MasterCard as that will give you extended warranty, ability to buy a phone on an interest-free 48 month payment plan, basic travel insurance, net you 0.5% cash back on USD purchases, etc.

I have put together a list of spending categories along with a corresponding no annual fee credit card that has the highest yield for the category. I hope this list helps you find the right long term hold credit card for your spending patterns.

This is an ongoing list so please feel free to correct me over time as credit cards evolve and I shall update the list from time to time.

Hopefully this will help people establish a baseline for how much they can earn for each spending category for free and then analyze paid credit card offers based on whether the annual fee is justified by the incremental yield they’d get with the paid credit card.

Restaurants

• Simplii Visa: 4%

Groceries

• BMO Cash Back MasterCard: 3% for first $500/month

• Triangle World Elite MasterCard: 3% in Canadian Tire Money (CTM)

Gas

• Amex SimplyCash/Tangerine MasterCard: 2%

• Collabria credit cards available at most credit unions: 2%

• Triangle World Elite MasterCard: ~2.5-5% (depending on gas prices) in Canadian Tire Money. You get back 5c/litre for regular gas at Petro Canada (if you link your Petro-Points card you also get 12 Petro-Points per litre so about 1.2c/L) and Canadian Tire (plus 7c/litre for premium gas here).

Transit/Entertainment/Recurring Bills

• Desjardins Bonus Visa: 2%

• Tangerine MasterCard: 2%

Parking/Furniture/Hotels/Drugstores

• Tangerine MasterCard: 2%

Home Improvement

• Tangerine MasterCard: 2%

• All Triangle MasterCard: 4% in Canadian Tire Money (CTM) on pretax amounts at Canadian Tire. So about 3.5% after tax depending on province.

Bill Payments (like property tax, utilities, university fees)

• Triangle World Elite MasterCard: 1% in Canadian Tire Money

Amazon

• Rogers World Elite MasterCard: 1.5%

• MBNA Amazon.ca Rewards MasterCard: 1.5% for non-Prime customers/2.5% for Prime

Foreign currency transactions

• Home Trust Preferred Visa: 1%

Travel/All other Canadian spending

• Rogers World Elite MasterCard: 1.5% + free travel insurance coverages

As of: March 2024

Commentary:

• The Tangerine MasterCard is very flexible, you can use it to get cash back on categories not covered by other free cards. So for example, if you’re going on vacation, you could switch one category to hotels a month-ish in advance so you get 2% on hotel spending. Or if you’re moving to a new house and want to buy furniture or home improvement items, you can activate those categories. You should probably keep common categories like entertainment or transit covered by other cards like the Desjardins Bonus Visa or Cash Back Visa to keep category slots on your Tangerine open for less common categories.

• If you’re a Rogers/Fido customer it should be clear that the Rogers MasterCards (basic one) are the dominant card here, an absolute no brainer.

• The Triangle World Elite MasterCard is another masterpiece that everyone should consider but especially car owners, homeowners:

  • 3% in Canadian Tire Money (CTM) on groceries

  • ~2.5-5% (depending on gas prices) in CTM on gas at Canadian Tire and enroute and Petro Canada.

  • Free roadside assistance package including free oil change.

  • Purchases over $150 at Canadian Tire, Sportchek, etc. can be split into 24 equal monthly payments, no extra charges or interest. You could invest the cash you don’t need to pay back right away into a savings account or something instead.

  • 1% in CTM on bill payments, this should be especially good for those paying university/college fees, property taxes, etc.

  • 4% in CTM (~3.5% after tax) at Canadian Tire and a bunch of places, which allow stacking coupons. E.g. I got a $2000 snowblower for something like $1300 from Canadian Tire (could have been $1200).

• If you travel a lot there are probably better options for the no foreign currency conversion card than the Home Trust Preferred Visa. You probably also want strong travel insurance coverage so a card like Meridian Travel Rewards Visa Infinite ($99/year) is probably worth the annual fees and you essentially get 0.5% back on foreign transactions.

My family and I currently put nearly all of our purchases, bill payments, and charitable giving on our Costco credit card.

After reviewing our statements, I realized that over the past few years we’ve charged close to $50,000 annually, yet the cash-back return feels underwhelming.

Given that level of spending, I’m wondering which credit card might be the best fit for maximizing cash back or points. We rarely travel internationally, so I’ve leaned toward cash-back rewards instead of travel points, but I’m open to either if the value is compelling.

What card would you recommend for someone with this spending pattern?