hey guys it's adrian here the canadian in a t-shirt and today i'll be breaking down the best
canadian cashback credit cards that i use every day in 2022. i carry these seven credit cards
in my wallet and by using a combination of these cards based on different expense categories i'm
able to maximize my overall cashback with every single purchase and that earns me hundreds or even
thousands of dollars every single year that's free extra money that i wouldn't get if i was using a
debit card or cash just remember to control your spending and always pay your credit card bills in
full some of these cards come with an annual fee but most of them are totally free some of them are
easy for anyone to get approved for even with low incomes and some require a strong credit score and
of course everyone has different spending habits so even though these seven cards work great for me
not all these cards will work for you and yes most canadians don't need seven credit cards
two or three are usually enough but over the past 10 years i've acquired these seven credit cards
to maximize that free cash back money based on my regular spending plus i'm able to spread out
my expenses across these multiple credit cards that lowers the credit utilization for each card
to help build my credit score even further i cover this trick in my video on credit scores in canada
and how to improve your credit in seven steps so make sure you check that out before you apply to
any of these cards it's so important to know your credit score i include links below to
sign up with borowell and credit karma which are totally free and i use them both to check
my credit score every week that way i know i can always get approved with no surprises so with that
let's jump into my top 7 cashback credit cards in canada for 2022. starting at the top my favorite
cashback credit card of all time is the american express simply cash preferred card i've had this
card for over eight years and this card gives me hundreds or even thousands of dollars every year
the best thing about the amex is its simplicity it offers two percent cashback on every single
purchase you make i don't have to worry about different spending categories or different stores
this card gives me two percent on everything with no limits with this card i'm basically getting a
two percent discount on everything i buy this is the best flat rate in canada other cards on
this list offer higher rates up to four percent cashback but only on certain types of expenses
like groceries or restaurants so for everything else i use my amex to get two percent cashback
this is especially useful on big purchases like hotels flights vacations and furniture this card
does come with a 99 annual fee but the 2 cashback more than makes up for it an important update
starting october 12 2022 this card will switch from an annual fee to a monthly fee of ten dollars
per month sure that will cost an extra 20 for the year but it's spread out over 12 months so
it should be easier to fit into your budget and as long as you spend at least six thousand dollars a
year the cash back will pay for itself if you don't think you'll spend enough to justify the
annual or monthly fee you can go for its little brother the no fee simply cash american express
which gives you a lower cash back rate of 1.25 but it's totally free i'll include my referral
link down below to sign up back to the simply cash preferred card it offers great benefits like
travel insurance but my favorite is the front of the line access with ticketmaster this allows you
to buy tickets for concerts and sporting events three to five days before they go on sale to the
general public i use my american express every time i go to a concert to avoid being sold out i
told you that starting october 12th the annual fee will change into a monthly fee but they are also
boosting the cashback to make it even better for now it has a flat rate of 2 percent on
all expenses but starting october 12th it will also offer an incredible four percent cashback
on gasoline and groceries they just announced this and i am so excited so after october 12th you'll
get four percent cash back at gas stations with no limits and four percent cash back at grocery
stores up to thirty thousand dollars per year everything else will be the regular two percent
cash back that includes any groceries you spend above that thirty thousand threshold
american express is one of the only cards in canada that offers a referral program every time
you refer this card to a friend you'll receive 100 in cash back up to 1500 a year if you only
refer one friend that already covers the annual or monthly fee if you refer 10 friends that's one
thousand dollars for you in cash even before i had a youtube channel i was still referring this card
to at least two or three friends or co-workers every year for free money plus they got a nice
sign up bonus if you use my referral link in the box below you'll get a 10 promotional cashback
rate on every purchase you make for the first four months or the first four thousand dollars
you spend that's a 10 discount on everything you buy you get a 400 sign up bonus plus i'll
get a small referral bonus as well just a heads up not all vendors in canada accept american express
all the big stores like walmart best buy sobeys they'll all accept amex but the smaller shops
might not so just to be safe always carry a visa or mastercard with you my second favorite credit
card is the scotiabank momentum visa infinite and this is actually the oldest card that i have this
card offers a whopping 4 cashback on groceries and recurring bill payments i hook up whatever monthly
bill payments i can to this card to get that four percent cash back including my cell phone
internet netflix insurance and utilities groceries and monthly bills are my biggest personal expenses
so this card is perfect for me and always earns me hundreds of dollars in cash back every year
unfortunately walmart is not considered a grocery store at least not in my area so i can't get four
percent at walmart i use my american express to get two percent but for all other grocery stores
like sobies and loblaws i use the scotiabank visa to get four percent cash back on everything i buy
and here's a cool hack this four percent cash back rate applies on any purchase you make in
a grocery store even things like electronics or gift cards so if i need to buy something on amazon
i go to my grocery store and i buy an amazon gift card with my scotia visa infinite that gift card
counts as a grocery purchase so essentially i get four percent cash back at amazon i personally do
this gift card trick whenever i buy things on amazon itunes or the xbox store but it works for
any gift card this card does come with an annual fee of 120 but the cash back more than makes up
for it if you spend a lot on groceries and bills if you spend at least three thousand dollars
a year or 250 dollars a month the cash back already pays for itself instead of monthly bills
if you spend more money on groceries and gasoline then i would recommend some close competitors the
cibc dividend infinite visa the td visa infinite or the [ __ ] cashback world delete mastercard
i compare all these cards in this video the best premium cashback credit cards in canada personally
i spend a lot more on monthly bills than i do on gasoline so the scotia visa is perfect for me
this card comes with some great list of benefits like insurance for car rentals flight delays and
cancellations and emergency travel medical insurance but here's a really cool one free
mobile device insurance if you buy your new phone using the scotia visa you'll be covered up to one
thousand dollars if your phone is lost stolen or damaged even better if you use my referral
link down below scotiabank will waive the annual fee for the first year that saves you 120 dollars
plus they'll give you a 10 promotional cashback rate on every purchase for the first three months
or the first two thousand dollars you spend that's a total signup bonus worth 320 dollars so click my
referral link to sign up starting october 12th both the scotia visa and the amex preferred
will offer four percent cashback on groceries but i'll still choose the scotia visa on my groceries
because their four percent cashback has no limits and because all grocery stores accept
visa not all grocery stores will accept amex going forward the rest of the cards on this list have no
annual fees they are completely free so there's no reason not to take advantage of them at number 3
we have the simply financial cashback visa this is a very unique card that targets restaurants this
card has no annual fee and it offers a whopping 4 cashback on restaurants bars and coffee shops
even premium cards with annual fees can't compete with this cashback so i would recommend this card
to anyone even if you only use it at restaurants that's what i do i only use this card when eating
out or delivering food to get that four percent discount for everything else i use the other cards
on this list an important point is that this four percent cash back is limited to an annual spend of
five thousand dollars if you spend more than five thousand dollars a year at restaurants or bars
the cashback will drop to only zero point five percent however that five thousand dollar limit
is 416 dollars a month and hopefully you're not eating out that much if i ever pass this 5 000
spending i would use my american express card for the remainder of the year to get 2 cashback
at restaurants i break down this card in detail in this video the best no fee canadian credit
cards with low income requirements and if you use my referral link down below you'll get a bonus of
10 cashback at restaurants bars and coffee shops for the first four months or the first
500 spent that's a 50 sign up bonus not bad for a free card simply financial also offers some of
the best checking accounts and saving accounts in canada with no monthly fees or transaction
fees saving you a lot of money compared to the big banks i'll be covering these in an upcoming video
but i'll include my referral links below if you want to enjoy my sign up bonuses at number four we
have the home trust preferred visa i use this card exclusively for foreign transactions whenever i
travel outside of canada or if i'm shopping online in us dollars this is one of the very rare cards
which doesn't charge a currency conversion fee almost every other credit card charges an upfront
fee of 2.5 percent if you're buying something other than canadian dollars so by using this card
you're saving that 2.5 fee so you can think of it as giving you a 2.5 cashback on foreign purchases
for example if you spend 300 on a u.s website like amazon.com the canadian version would be amazon.ca
that 300 us dollars is worth 383 canadian with any other credit card they would slap on an extra 2.5
currency conversion fee so on your bill you'll be charged 393 but if you use the home trust visa
you avoid this 10 conversion fee so you'll only be charged the true amount of 383 this can save you a
ton of money on big foreign purchases like hotels so this is the card i use whenever i travel and
this card has no annual fee so there's no reason not to take advantage of it at number five we have
the triangle world elite mastercard offered by canadian tire this card offers 4 cashback whenever
you shop at canadian tire sport check and marks this also includes auto service at canadian tire
so if you're getting your car repaired or putting on winter tires you get 4 cashback on that and
that's great i use this card mostly for gasoline it gives you 5 cents per liter on regular or 7
cents per liter on premium fuel at canadian tire gas stations back when gas prices were around a
dollar that gave us five percent cash back on gas which is incredible especially for a no fee credit
card this card also offers three percent cash back on groceries up to twelve thousand dollars per
year which is great but not as good as the four percent cash back with scotia infinite so i use
that card for my groceries this card has no annual fee and it comes with free roadside assistance
plus a bunch of other benefits so it's great value for a free card a really cool feature is that this
card allows you to make payments on home expenses that usually don't accept credit cards like
property tax and utility bills and if you make payments with this card you'll earn one percent
cashback which can really add up there's no other credit card that i know of that offers this so
for real estate investors it's a game changer the downside is that this card is hard to qualify for
you'll need a strong credit score and an income above 80 000 another thing is that this card is
not strictly speaking cashback you don't earn cash with this card you earn canadian tire money but
you can redeem this canadian tire money anytime you want at canadian tire stores sport check marks
and others because of this card i almost never pay for sports supplies my cash back always covers it
at number six we have the pc financial world elite mastercard i use this card every time
i go to shoppers drug mart and i get 4.5 cashback at shoppers just like the canadian tire card this
card doesn't give you cash it gives you pc optimum points you can redeem 10 000 points to save 10
whenever you shop at shoppers drug mart and a bunch of grocery stores like loblaws
zaire's superstore value mart and no frills i only use this card at shoppers to get that 4.5
cashback worth of points but on top of this you also get the regular pc optimal offers
like the 20 times the points event which can save you a ton of money if you use it right also this
card offers you three percent cashback worth of points at all the grocery stores i mentioned which
is great but it's not as good as the four percent i get with my scotia infinite visa on top of that
you also get 3 cashback worth of points at so gas stations which is fantastic for a free card
this card has no annual fee but it does require an income of 80 000 to apply technically they never
ask for proof of income so as long as you have a strong credit score you should be fine you can
also refer a friend to this card to earn 25 000 points which is worth 25 dollars you can do that
up to 10 referrals i'll include the sign up link below and if you want to help support my channel
feel free to enter my referral code so i earn some pc points as well at number 7 we have the scene
visa card i've had this card since university and to this day i use this card every time i go to the
movies at cineplex theaters this card doesn't give you pure cashback it gives you scene plus points
which you can redeem to get free movie tickets or popcorn and drinks at the theater or movies
at the online cineplex store if you love movies this card is a must it will give you a whopping
five percent worth of cashback at the movie theater that's unbelievable especially for a free
credit card for every dollar you spend at cineplex you earn five scene points and to redeem every 100
points is worth one dollar that's where the five percent comes from in the past you had to save up
one thousand points to redeem a movie ticket but now they've made it more flexible by offering 100
point increments i only use this card at the movie theater for that excellent five percent rate but
i never use it anywhere else you'll only get one percent cashback which is pretty weak but it is a
great option for students or beginners and if you click my referral link down below you'll earn five
thousand bonus scene points when you spend seven hundred fifty dollars that's a sign up bonus worth
fifty dollars for a free credit card so those are the seven canadian credit cards i use every day
let's take a look at this table to summarize these cards and to find out when to use each of them
whenever i buy groceries or pay my monthly bills i use my scotia infinite to get four percent cash
back when i go to a restaurant bar or coffee shop i use my simply visa to get four percent
when i shop at canadian tire or sport check i use my triangle world elite mastercard
to get four percent cash back and i get five cents per liter at canadian tower gas stations
as well as one percent cash back when i pay my property taxes and other home expenses
when i go to shoppers drug mart i use my pc world lead mastercard to get 4.5 cashback when
i go to the movie theater at cineplex i use my scene visa to get five percent cash back
whenever i travel outside of canada or if i buy anything in us dollars i use my home trust visa
to save me that 2.5 conversion fee and then for everything else i use my american express
simply cash preferred card to get me two percent cash back on every single purchase and starting
october 12 i'll be using my american express at gas stations to get four percent cash back
so there you have it those are my seven favorite canadian credit cards that i use on a daily basis
be sure to check out my canadian credit card playlist to find out how to improve your credit
score and to learn more about the best canadian credit cards beyond the seven cards in this video
thanks for watching guys and be sure to like comment and subscribe if you found this video
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thanks everyone and i'll see you guys on the next episode of the canadian in a t-shirt bye guys