Credit cards

The best cash back credit cards in Canada 2022 – Forbes Advisor Canada

The uniqueness of this card is related to the extra mileage that comes with its welcome offer. In addition to 10% cash back in the first three months (up to $2,000 in purchases), gas purchases and pre-authorized payments earn an additional 6% cash back up to up to $1,500 of additional expenses during the same three months of operation.

Awards: Earn 3% cash back on eligible grocery and gas purchases, plus recurring bill payments. Plus, earn 1% cash back on all other qualifying purchases.

Welcome offer: Earn 10% cash back on all purchases for the first three months up to a total spend of $2,000. After that first $2,000 in purchases, gas purchases, grocery purchases and pre-authorized payments will continue to earn 6% cash back (up to a total spend of $3,500) during first three months. Plus, you won’t pay any annual fee for the first year.

Annual fees: $120

Other advantages and disadvantages: In addition to cash back, this card offers a number of insurance plans, including $2 million in emergency travel medical insurance for up to 10 days and rental car insurance covering the value of vehicles up to $65,000 MSRP. If you collect Starbucks Rewards, this card also gives you 50% more Starbucks Stars when you link it to your Starbucks Rewards app. The only downsides to talk about are the higher annual fees of $120 and the income requirements, which are an annual personal income of $60,000 or an annual family income of $100,000.