1.SimplyCash® Card from American Express
American Express
- 5%Cash back on all purchases in the first 3 months (up to $2,000)
- 2%Cash back on gas and groceries (up to $300 cash back annually)
- 1.25%Cash back on all other purchases
Earn up to $100 in bonus cash back by earning a bonus 5% cash back on all purchases (up to $2,000 in purchases) in your first 3 months as a new SimplyCash® Card from American Express.
New SimplyCash® Card from American Express Cardmembers can earn 1.25% cash back on purchases with no limit to the amount of cash back you can earn.
SimplyCash® Card from American Express stands out as the top choice because it offers a generous welcome bonus of 5% cash back on all purchases in the first three months, making it an excellent option for new cardholders looking to maximize their rewards quickly.
Pros:
- No annual fee
- High rewards on everyday categories
Cons:
- Variable APR can be high
- Some exclusions apply
2.SimplyCash® Preferred Card from American Express
American Express
- 10%Cash back on all purchases in the first 3 months (up to $2,000)
- 4%Cash back on gas and groceries (up to $1,200 cash back annually)
- 2%Cash back on all other purchases
Earn up to $200 in bonus cash back by earning a bonus 10% cash back on all purchases (up to $2,000 in purchases) in your first 3 months as a new SimplyCash® Preferred Card from American Express.
New SimplyCash® Preferred Card from American Express Cardmembers can earn 2% cash back on purchases with no limit to the amount of cash back you can earn.
What sets the SimplyCash® Preferred Card apart is its impressive 10% cash back on all purchases during the first three months, making it an attractive option for those looking to earn significant rewards quickly.
Pros:
- High cash back rates on groceries and gas
- Generous welcome bonus
Cons:
- Annual fee applies
- Higher spending required to maximize rewards
3.American Express Cobalt® Card
American Express
- 5%Points on eligible eats and drinks
- 3%Points on eligible streaming subscriptions
- 1%Points on all other purchases
N/A
Earn 5 points for every $1 on eligible eats & drinks including eligible restaurants, bars, cafes, grocery stores, and food delivery in Canada.
The standout feature here is the Cobalt Card's ability to earn 5x points on dining and grocery purchases, making it a top choice for foodies and frequent diners looking to maximize their rewards.
Pros:
- High points earning on dining and groceries
- Flexible redemption options
Cons:
- Monthly fee can add up
- Not ideal for those who don't spend on dining
4.Scotia Momentum® Visa Infinite Card
Scotiabank
- 4%Cash back on groceries and recurring bill payments
- 2%Cash back on gas and transit
- 1%Cash back on all other purchases
Get 10% cash back on up to $2,000 in purchases in the first three months.
Earn 4% Cash Back on eligible Purchases at Grocery and on Recurring Bill Payments.
This card shines for its 4% cash back on groceries and recurring bill payments, making it an excellent choice for those who prioritize everyday spending in these categories.
Pros:
- High cash back on groceries
- No annual fee in the first year
Cons:
- Annual fee after the first year
- Limited to specific categories for high rewards
5.National Bank World Elite Mastercard
National Bank
- 5%Points on eligible grocery and restaurant purchases
- 2%Points on all other purchases
Get up to $1,052 in benefits and rewards for the first year of enrollment.
Earn 5 points for every dollar in eligible grocery and restaurant purchases.
A key differentiator is the World Elite Mastercard's extensive travel benefits and high points earning potential, making it a strong contender for frequent travelers and diners.
Pros:
- High points earning on groceries and restaurants
- Comprehensive travel benefits
Cons:
- Annual fee applies
- Higher spending required to maximize rewards
Final Words
As you navigate the best credit cards for online shopping in Canada this May, remember that the right card can enhance your purchasing power and rewards. Take time to compare options based on cash back, fees, and benefits to make an informed decision that aligns with your shopping habits.
Frequently Asked Questions
Earn up to $100 in bonus cash back by earning a bonus 5% cash back on all purchases (up to $2,000 in purchases) in your first 3 months as a new SimplyCash® Card from American Express.
New SimplyCash® Preferred Card from American Express Cardmembers can earn 2% cash back on purchases with no limit to the amount of cash back you can earn.
You can earn 1.25% cash back on purchases with no limit to the amount of cash back you can earn. Additionally, you earn 5% cash back on all purchases in the first 3 months (up to $2,000), 2% on gas and groceries (up to $300 cash back annually), and 1.25% on all other purchases.
The American Express Cobalt® Card allows you to earn 5 points for every $1 on eligible eats & drinks, 3% on eligible streaming subscriptions, and 1% on all other purchases. While it doesn't have a welcome bonus, the points can accumulate quickly with regular use.
When choosing a credit card for online shopping, consider factors like the welcome bonuses, cash back rates, and any applicable fees. Look for cards that offer high rewards on categories you frequently shop in, and check if they have additional benefits like purchase protection.
Many cashback credit cards, such as the SimplyCash® Card from American Express, have no annual fee, making them accessible to most users. However, premium cards often come with annual fees that may provide higher rewards rates, so evaluate your spending habits to determine if the fee is worth it.
When applying for a credit card, be prepared to provide personal information such as your income, employment status, and credit history. It's essential to review your credit score beforehand, as a higher score can improve your chances of approval and help secure better terms.
Cashback credit cards typically offer rewards as a percentage of your spending, with some providing higher rates for specific categories like groceries or gas. For example, with the SimplyCash® Preferred Card, you can earn 4% cash back on gas and groceries (up to $1,200 cash back annually), which can significantly enhance your savings.
