GreedyRates.ca

GreedyRates.ca

June 02, 2015 08:15 ET

GreedyRates.ca Announces Winners of The Best Cash Back Credit Cards in Canada for 2015

MONTREAL, QUEBEC--(Marketwired - June 2, 2015) - GreedyRates.ca released its Best Cash Back Credit Card Rankings in Canada for 2015. Winners were selected and evaluated based on cash back earned, transparency of the cash back program, simplicity, perks, and fees.

Whether you're looking for a simple no annual fee rewards card, an easy to understand flat cash back rate, or big savings on every day purchases on gas, groceries, restaurant and drug store spend, Canadian issuers are creating an increasingly diverse portfolio of cash back credit card offers that meet the needs of a wide range of Canadians looking for rewards from their credit card spend.

"Cash back credit cards are the fastest growing rewards segment in the Canadian credit card market," said Marc Felgar, Founder of GreedyRates.ca. "They're simple to understand, offer great value and redeeming is hassle free. Cardholders love them."

With 5% promotional cash back periods, unlimited 1.75% flat cash back rates, annual fee waivers, and insurance coverages and perks rivalling those of travel cards, Canadian cash back cards are richer and easier to use than ever. In fact, the best cash back cards can earn $365 more than an underperforming cash back card, for the same spend, making finding the right card well worth the effort.

"The newest cash back cards are simpler and more transparent than ever before, with no spending limits, earning caps, tiers or categories. For many who don't travel, or who are tired of checking flight redemption charts, calling in to redeem their points or getting stuck with surprise booking fees, cash back cards offer a great alternative, even for the big spender," said Felgar.

To measure the value of each cash back credit card, GreedyRates checked how much cash back was earned for 5 different spend levels. GreedyRates took into account earning caps, annual fees and welcome bonuses.

Best Canadian Cash Back Credit Card Winners

Best No Fee Cash Back Credit Card Winner:

Winner: The SimplyCash Card From American Express

Best Flat Rate Cash Back Credit Card Winner:

Winner: BMO CashBack World Elite MasterCard

Best Captive Travel Credit Card Winner:

Winner: Scotia Momentum Visa Infinite Card

To read the definition of each cash back credit card category and the full review of each of the winning Canadian cash back credit cards, please visit the rankings here.

"We put together the rankings because there's been lots of change in the cash back marketplace, and we wanted to offer Canadians an objective curated recommendation tool to help cut through the clutter. It's a great opportunity for Canadians to take advantage of aggressive bank promotions currently in the marketplace," said Felgar.

About GreedyRates:

GreedyRates.ca is one of Canada's leading credit card comparison sites. In addition to providing credit card reviews and comparison tools, GreedyRates has also converted all of Canada's credit card rewards points into their dollar equivalent value. Canadians can now compare rewards credit cards apples to apples and see how much each card can earn them, and the dollar value of those earnings, based on their personalized results!

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