Credit Cards

Credit Card 2% CASH BACK No limit on all purchases

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  • May 21st, 2021 12:10 pm
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[OP]
Jr. Member
Nov 10, 2014
121 posts
27 upvotes
Windsor, ON

Credit Card 2% CASH BACK No limit on all purchases

Is there any credit card in Canada that offers 2% CASH BACK No limit for all purchases, regardless of category?
21 replies
Deal Addict
User avatar
Jan 16, 2007
1770 posts
2078 upvotes
The American Express SimplyCash Preferred card. It has an annual fee of $99/year.
🏦 Banking: Alterna Bank (0.9%, No fees)
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💳 Spending: Amex SimplyCash Preferred (2%), Brim Mastercard (1% forex, non-Amex)
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Newbie
User avatar
Aug 22, 2018
14 posts
12 upvotes
Ontario
Take a look at the MasterCard World Elite cards from various companies. They've steadily worsened the cards over the years but the people who have them (so far) got to keep the grandfathered terms. I would recommend getting one as early as you can, the terms only get worse the longer you wait.

I've got 2% cash back on all spending up to 100K CAD/year in spending with a 120 CAD/year annual fee. A few years before I got mine you could get the same 2% cash back with no annual fee (I know someone who still has that card).

The best I'm aware of at the moment is 1.66%[1] percent cash back with MBNA World Elite (a later version of my current card) on a $120/year fee.

AMEX has poor acceptance compared to MasterCard and Visa.

[1]. 2 points per dollar spent, 120 points per dollar of cashback, cashback can be set to auto-redeem every month.
Deal Guru
User avatar
Jan 9, 2011
13849 posts
17996 upvotes
Vancouver
Brim World Elite also pays 2% but that is capped at $25k of spending/year, 1% beyond. $199/year.
There were some Collabria Visa/MC cards that paid 2% on everything, but they were recently nerfed.
As @joshnet says, Amex Simply Cash Preferred is the only one left that pays 2% on everything with no cap.
anthonyryan1 wrote: Take a look at the MasterCard World Elite cards from various companies. They've steadily worsened the cards over the years but the people who have them (so far) got to keep the grandfathered terms.
Only a tiny handful had their benefits grandfathered (Capital One Aspire, MBNA WE only for those in Quebec, what else?) The rest have been nerfed.
Newbie
User avatar
Aug 22, 2018
14 posts
12 upvotes
Ontario
Must be worse than I thought, I've got an MBNA WE variant in Ontario that hasn't been nerfed yet. Hoping it stays that way.
Deal Addict
Oct 7, 2012
1780 posts
481 upvotes
Montreal
i have an mbna 2% here for QC havent diminished it yet 89.00 a year
I think new ones are 1 %
Deal Fanatic
Jan 19, 2017
6774 posts
3886 upvotes
truepatriotlove wrote: Is there any credit card in Canada that offers 2% CASH BACK No limit for all purchases, regardless of category?
It can be done. But you have to do extra work. Get a 4% gas & grocery cc. Buy a prepaid card using the 4% cc from a gas satiation or grocery store which would have a fee of up to 2%.
Deal Expert
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May 8, 2009
15431 posts
13868 upvotes
Going to the Moon
Honourable mention...TD Bank Double Up VISA (Signature). USD/3% FTF but 1+1% cashback uncategorized, uncapped, also no-AF. The +1% is by redeeming cashback into deposit to deposit account at TD Bank, N.A. available via cross-border application, no SSN nor ITIN required.

SUB $75 on $500 MSR (USD). Offers extended warranty (with its handful of exclusions) on USA spend.

This beats Brim cards, AmEx SCP, Robbers, etc. on USD spend. This beats prepaids (including CDC) if you require extended warranty. This can be useful for couch MS/buying crypto in USD through workflows that aren't cash advance as well. Just saying.
Newbie
Jan 15, 2020
11 posts
12 upvotes
desjardins visa infinite privilege. Restaurants,Entertainment, Public transportation 4%; Groceries, Travel 3%; Other purchases 1.75%. No cap, $295 annual fee for member.
Deal Expert
User avatar
Jan 12, 2017
18667 posts
5443 upvotes
Scarberia
ml88888888 wrote: It can be done. But you have to do extra work. Get a 4% gas & grocery cc. Buy a prepaid card using the 4% cc from a gas satiation or grocery store which would have a fee of up to 2%.
good tip! i bet u went crazy when shell had that 10% cb on mastercard, i forgot the exact promo but shell ended it early Face With Tears Of Joy
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Deal Expert
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May 8, 2009
15431 posts
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Going to the Moon
ml88888888 wrote: It can be done. But you have to do extra work. Get a 4% gas & grocery cc. Buy a prepaid card using the 4% cc from a gas satiation or grocery store which would have a fee of up to 2%.
mikka2017 wrote: good tip! i bet u went crazy when shell had that 10% cb on mastercard, i forgot the exact promo but shell ended it early Face With Tears Of Joy
When spending out on prepaids, you lose the perks of extended warranty. Not saying it's a bad idea, it's also a hassle though. I think OP just wants a flat earn rate and not jump through any hoops to get it.

Those 4%/G&G cards also won't meet OP's requirement for uncapped 2% earn, since they have caps on the 4%.
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Newbie
Jul 28, 2011
71 posts
6 upvotes
MISSISSAUGA
joshnet wrote: The American Express SimplyCash Preferred card. It has an annual fee of $99/year.
This is what comes up when I search for the same 2% - problem is, it is not 2% return since you can't use at a majority of places
Newbie
Jul 28, 2011
71 posts
6 upvotes
MISSISSAUGA
anthonyryan1 wrote: Must be worse than I thought, I've got an MBNA WE variant in Ontario that hasn't been nerfed yet. Hoping it stays that way.
What variant do you have? My Capital One got grandfathered in for many years and during the pandemic they sent out a letter stating I'm no longer at 2% cash back. Very, very pissed about that. I don't mind the annual fee of $120 with a $100 rebate but the 1.5% cash back is a deal killer and I've been looking else where with no luck
Deal Addict
User avatar
Feb 1, 2006
4438 posts
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Ontario
Mogo PREPAID Visa now pays 2%
Cards:HSBC WE MC 1.5%/3% travel 0 FX MC acceptance 31 day med AF $49
CTC WE MC 3% grocery, 3.54% CTC, RA, billpay, AF $0
Bank: Alterna (0.9%, no fees)
Broker: IB (Foreign stocks/low comm/low margin rates)
Deal Fanatic
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Aug 24, 2016
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The Prairies
sannitig wrote: This is what comes up when I search for the same 2% - problem is, it is not 2% return since you can't use at a majority of places
Not true, or more specifically, not true for everyone.
Amex acceptance depends where you live.
Smaller town with next to no shopping, sure you’re going to run into issues with acceptance.
But larger cities usually have many places where you can use Amex, even some of the smaller retailers take it.
Heck Dollarama takes Amex.
Deal Addict
User avatar
Jan 16, 2007
1770 posts
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Amex has made great progress in my opinion increasing acceptance. I've got 2 places I can't use it out of all my spending. Despite that, Amex is still worth it for me.
🏦 Banking: Alterna Bank (0.9%, No fees)
📈 Investing: National Bank Direct Brokerage
💳 Spending: Amex SimplyCash Preferred (2%), Brim Mastercard (1% forex, non-Amex)
📱 Mobile: Eastlink 10GB Rollover ($45/mth)
Newbie
Jul 28, 2011
71 posts
6 upvotes
MISSISSAUGA
This is true it really depends where you shop. For us we shop where ever we need to and try to support local shops vs the corporate. To be fair, I only assumed that the local shops do not take Amex because of the higher fees. I really do want one but hard to tell if it's a waste of money until I get one I guess.

Is my assumption of local shops/restaurants not taking Amex correct? (Toronto). If I'm way off I'll probably get one and report back within a year as we are spending an extremely large chuck of money over the next 2.5 years via local economy, international travel and renovation.
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Jun 25, 2008
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sannitig wrote: This is true it really depends where you shop. For us we shop where ever we need to and try to support local shops vs the corporate. To be fair, I only assumed that the local shops do not take Amex because of the higher fees. I really do want one but hard to tell if it's a waste of money until I get one I guess.

Is my assumption of local shops/restaurants not taking Amex correct? (Toronto). If I'm way off I'll probably get one and report back within a year as we are spending an extremely large chuck of money over the next 2.5 years via local economy, international travel and renovation.
Check yourself: https://www.americanexpress.com/en-ca/m ... 8429999998
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Aug 24, 2016
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sannitig wrote: This is true it really depends where you shop. For us we shop where ever we need to and try to support local shops vs the corporate. To be fair, I only assumed that the local shops do not take Amex because of the higher fees. I really do want one but hard to tell if it's a waste of money until I get one I guess.

Is my assumption of local shops/restaurants not taking Amex correct? (Toronto). If I'm way off I'll probably get one and report back within a year as we are spending an extremely large chuck of money over the next 2.5 years via local economy, international travel and renovation.
In my experience, many smaller Chinese restaurants don’t take it, and small corner convenience stores don’t take it.
There have been reports in the forum that some stores actually have signs saying no Amex, but if you attempt to use Amex, it goes through.
Presumably these kinds of shops probably get a deal on the merchant fees if they take all credit card types, but they still don’t want to take Amex because of the higher processing fee, so they put the signs up hoping you won’t try using it?
Deal Fanatic
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Nov 14, 2003
5207 posts
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LaLaLand
+1, or should I say, +2% for American Express Simply Cash preferred. It's good value this year with $501 net cash back (with $99 AF and GCR $100 rebate) after $4000 spend. I think the CIBC Dividend infinite Visa is also good with $200 cash back on $2000 spend. I'm going to take on both of these this year.

I currently also have simplii Visa for restaurants that do not take American Express but I rarely use it because most restaurants I go to accept AX. This made me hopeful for a bit - at a budget Chinese restaurant in downtown Toronto. I asked and they said they got the sandwich board from another restaurant. Loudly Crying Face

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