Personal Finance

Best Cash Back Credit Card

  • Last Updated:
  • Oct 29th, 2015 7:28 pm
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Newbie
Mar 26, 2013
54 posts
1 upvote
Regina

Best Cash Back Credit Card

What is the best cash back credit card?
Willing to pay a fee if worth it.
2 card holders

We spend about $2,500 per month, $800 groceries but at a Walmart (doesnt qualify for the 4% cash back via Scotia Bank), $150 gas, the rest is miscellaneous.

Is the MBNA World Elite card the best for this situation?

We don't travel very often now since we have young kids so dont really want to go with a travel card.
2 replies
Newbie
User avatar
Dec 23, 2012
69 posts
27 upvotes
Toronto
andrewrmunro wrote: What is the best cash back credit card?
Willing to pay a fee if worth it.
2 card holders

We spend about $2,500 per month, $800 groceries but at a Walmart (doesnt qualify for the 4% cash back via Scotia Bank), $150 gas, the rest is miscellaneous.

Is the MBNA World Elite card the best for this situation?

We don't travel very often now since we have young kids so dont really want to go with a travel card.
With the Numbers you've given:

Winner by far:
MBNA Rewards World Elite 1st year = $700, 2nd year(Annual fee) = $511

Second:
Amex SimplyCash (No fee) 1st year (Bonus) = $409, 2nd year = $375

Reference URL (Just plug in the numbers):
http://www.ratehub.ca/credit-cards/cash-back
Deal Addict
Feb 28, 2003
1322 posts
90 upvotes
i dont think there are any other cards other than the scotia visa infinite that pays more than 2% on groceries (theres the MBNA smart cash but its dollar limited and only 6 month period, plus your numbers dont work well with it). If you find others that pay more than 2% for a bonus period, make sure you read the fine print to see if theres a cap on it.

i would second the MBNA rewards world elite card for this case
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