Opting for the appropriate cash back credit card could significantly transform your financial landscape. Besides earning rewards on routine expenditures, a low-interest rate allows you to reduce interest charges. Explore five premier Canadian cash back credit cards with attractive low-interest rates for 2024.
1. Tangerine Money-Back Credit Card
Esteemed for its adaptability and straightforwardness, the Tangerine Money-Back Credit Card stands out as a favored option.
- Cash Back Rate: Accumulate 2% cash back on up to three selected categories and 0.5% on all other transactions.
- Interest Rate: 19.95% on both purchases and balance transfers.
- Annual Fee: $0
- Additional Benefits: Absence of annual fee, customizable reward categories, and convenient online administration.
2. MBNA Smart Cash Platinum Plus® Mastercard®
Boasting substantial cash back incentives and a competitive interest rate, the MBNA Smart Cash Platinum Plus® Mastercard® is a compelling choice.
- Cash Back Rate: Garner 2% cash back on groceries and fuel, and 0.5% on all other transactions.
- Interest Rate: 19.99% on purchases and balance transfers.
- Annual Fee: $0
- Additional Benefits: Introductory bonus of 5% cash back on groceries and gas for the initial 6 months (up to $500 in monthly purchases).
3. Scotia Momentum® No-Fee Visa* Card
Perfect for individuals seeking to accrue cash back without incurring an annual fee, the Scotia Momentum® No-Fee Visa* Card is an excellent fit.
- Cash Back Rate: Earn 1% cash back on qualifying purchases at gas stations, grocery stores, pharmacies, and recurring bill payments; 0.5% on all other eligible transactions.
- Interest Rate: 19.99% on purchases and 22.99% on cash advances.
- Annual Fee: $0
- Additional Benefits: No annual fee, advanced security features, and purchase protection.
4. BMO CashBack® Mastercard®
The BMO CashBack® Mastercard® provides uncomplicated rewards and minimal fees.
- Cash Back Rate: Accumulate 3% cash back on groceries, 1% on recurring bill payments, and 0.5% on all other transactions.
- Interest Rate: 19.99% on purchases and 22.99% on cash advances.
- Annual Fee: $0
- Additional Benefits: Introductory offer of 5% cash back on all purchases for the first 3 months (up to $2,000 in spending).
5. SimplyCash™ Card from American Express
Renowned for its uncomplicated cash back scheme and absence of an annual fee, the SimplyCash™ Card from American Express is a notable option.
- Cash Back Rate: Accumulate 2% cash back on fuel and groceries, and 1.25% on all other transactions.
- Interest Rate: 19.99% on purchases and 21.99% on funds advances.
- Annual Fee: $0
- Additional Benefits: Access to American Express Invites®, featuring exclusive offers and experiences.
Conclusion
Securing the ideal cash back credit card with a low-interest rate enables you to amplify your rewards while curtailing expenses. Evaluate your spending patterns, reward inclinations, and financial requisites to pinpoint the optimal card. Whether you value flexibility, elevated cash back rates, or supplementary advantages, these five selections present superb benefits for Canadian patrons.
