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Cashback credit cards are easy money for most of us. The convenience of a Cashback credit card is that there is nothing required to convert your rewards, you enjoy cash as a benefit of being a cardholder. Although these represent the best Cashback offers available this month, do keep in mind, not all cards issue the cashback immediately. For example, American Express issues cashback once a year in September and Scotiabank does it once a year in November.
20% Cashback Offers
Tangerine
Tangerine World MasterCard Credit Card
Annual Fee
No annual fee
Bonus
- C$100 for spending C$1,000 in the first two months
- An extra C$100 for signing up the credit card through Great Canadian Rebates
You will earn at least C$200 for spending $1,000 within the first two months of card membership.
Ongoing Benefits
- Earn 2% cashback in any two of the following categories
- Grocery
- Furniture
- Restaurants
- Hotels and Motels
- Gas
- Recurring Bill Payments
- Drug Stores
- Home Improvement
- Entertainment
- Public Transportation and Parking
- 0.50% cashback on all other purchases
- Boingo Wi-Fi Hotspots
Tangerine Money Back Credit Card
Annual Fee
No annual fee
Bonus
- C$100 for spending C$1,000 in the first two months
- An extra C$100 for signing up the credit card through Great Canadian Rebates
You will earn at least C$200 for spending $1,000 within the first two months of card membership.
Ongoing Benefits
- Earn 2% cashback in any two of the following categories
- Grocery
- Furniture
- Restaurants
- Hotels and Motels
- Gas
- Recurring Bill Payments
- Drug Stores
- Home Improvement
- Entertainment
- Public Transportation and Parking
- 0.50% cashback on all other purchases
10% Cashback
CIBC
Credit Card: CIBC Dividend Visa Platinum
Annual Fee
$120. The first year fee is waived
Bonus
- 10% cashback on the first $2,500 spend in the first 4 statements.
Ongoing Benefits
- 3% cashback on gas and groceries
- 2% cashback on transportation, dining and recurring payments
- 1% cashback on everything else
- Purchase Security & Extended Protection Insurance
- $500,000 Common Carrier Accident Insurance
- Car Rental Collision and Loss Damage Insurance
Credit Card: CIBC Dividend Visa Infinte
Annual Fee
$120. The first year fee is waived
Bonus
- Earn 10% cashback on the first C$2,500 spent within the first four months
Ongoing Benefits
- 4% cashback on gas and groceries
- 2% cashback on transportation, dining and recurring payments
- 1% cashback on everything else
- Mobile Device Insurance
- Purchase Security & Extended Protection Insurance
- Out-of-Province Emergency Travel Insurance
- $500,000 Common Carrier Accident Insurance
- Car Rental Collision and Loss Damage Insurance
Scotiabank
Credit Card: Scotiabank Momentum Visa Infinite
Bonus
- 4% cashback on groceries
- 4% cashback on recurring billings
- 2% cashback on gas
- 2% cashback on daily transit
Typically, this credit card also comes with a 10% cashback offer across all spend for the first C$2,000 in the first 3 months. This offer is not currently available now.
Annual Fee
- Waived for the first year
- $139 per year thereafter
7.5% Cashback
American Express
Credit Card: American Express SimplyCash Preferred
Bonus
- 10% cashback on the first $4,000 in the first three months
Regular Spend
- 2% cashback across all purchases after the initial sign-up bonus.
Annual Fee
- $99 per year which is not waived for the first year
Conclusion
There are some excellent credit card offers for February. I hesitated from sharing the American Express deal, on one hand, it is only 7.5% cashback after considering the annual fees that is not waived, but it is also available for a very large spend, which makes it an offer worth exploring.
Tangerine continues to be the biggest surprise, a 20% cashback offer is beyond phenomenal!
