Cash Back Cards Compared: PC, Rogers, Tangerine, Neo and Simplii

Canada's no-fee and low-fee cash back cards each take a different path to the same goal: putting money back in your pocket. Some pay flat rewards, some let you pick categories, and one is really a points program in disguise. This guide compares five of the most popular options so you can match a card to how you actually spend.

For a broader shortlist, start with our best cash back cards roundup, or filter to no-fee cash back cards if you refuse to pay an annual fee.

How these five cards differ

The five programs here fall into three camps. PC Financial runs a points engine tied to grocery and drugstore loyalty. Rogers and Simplii pay flat or tiered statement cash back. Tangerine and Neo let you shape your earn rate, either by picking categories or by shopping at partner merchants. None is best for everyone, so the right pick depends on where your dollars go each month.

PC Mastercard: points, not cash

The PC Mastercard is technically a rewards card, not a cash back card, because it earns PC Optimum points instead of statement credits. The published earn rates are strongest inside the Loblaw ecosystem: you collect points on groceries at Loblaw banner stores like No Frills and Real Canadian Superstore, a higher rate at Shoppers Drug Mart and Pharmaprix, and points on fuel at Esso and Mobil stations. Everywhere else you earn a small base rate.

Points redeem for free groceries and merchandise at Loblaw banner stores and Shoppers Drug Mart, and you can now also apply them to your card balance. The annual fee is $0. The trade-off is flexibility: if you do not shop at Loblaw or Shoppers, the value drops sharply. This card suits households that already buy groceries and fill prescriptions inside that network.

Rogers Mastercard: the foreign exchange angle

The Rogers Mastercard stands out for US dollar spending. On the standard no-fee card you earn 2 percent cash back on eligible US dollar purchases, plus a base rate on everything else that rises if you are a Rogers, Fido, Shaw or Comwave customer. Like almost every Canadian card, it applies a 2.5 percent foreign transaction fee on top of the exchange rate, so the cash back on US purchases helps offset that cost rather than eliminate it.

If you shop frequently from US retailers in USD, this is a useful tool. Just remember the cash back only narrows the foreign exchange gap, it does not close it. For cards that genuinely skip the fee, see our no foreign transaction fee guide.

Tangerine Money-Back: pick your own categories

The Tangerine Money-Back Credit Card is built around choice. You select two categories that each earn 2 percent cash back from a list that includes groceries, gas, restaurants and more. Redirect your rewards into a Tangerine Savings Account and you unlock a third 2 percent category. All other purchases earn 0.5 percent.

You can change your categories every 90 days, which means you can adapt the card to seasonal spending. Cash back is applied automatically each month, either against your balance or into savings. The annual fee is $0. This card rewards people who concentrate spending in a few predictable categories and are willing to manage their picks.

Neo: partner-driven, variable rewards

The Neo Credit Card lineup leans on partner merchants. The entry-level Neo Mastercard earns roughly 1 percent on groceries and gas with no annual fee. The Neo World Mastercard, also $0 annual fee, pays 2 percent on groceries, gas and recurring payments and 0.5 percent on everything else. The premium Neo World Elite Mastercard charges $149 per year for 5 percent on groceries, 3 percent on gas, 4 percent on recurring payments and 1 percent on everything else.

On top of category rates, Neo advertises higher cash back at a rotating roster of partner retailers, so your effective rate depends on whether you shop where Neo has deals. The variability cuts both ways: great if your favourite stores are partners, underwhelming if they are not. Neo suits app-first users comfortable with a digital-only experience.

Simplii Cash Back Visa: strong on dining

The Simplii Financial Cash Back Visa is the dining specialist. It pays up to 4 percent cash back at eligible restaurants, bars and coffee shops on up to $5,000 in annual spending, 1.5 percent on gas, groceries, drugstore purchases and pre-authorized payments up to $15,000 per year, and 0.5 percent on everything else with no cap. The annual fee is $0 for the primary cardholder and up to three additional cards.

Cash back accumulates monthly and is paid as a single annual credit on the January statement. If you eat out often, the 4 percent dining rate is among the best available on a no-fee card, though the $5,000 cap limits how much you can earn there.

Side-by-side comparison

Card	Annual fee	Headline earn	Base rate	Redemption
PC Mastercard	$0	Points at Loblaw, Shoppers, Esso/Mobil	Small base points rate	PC Optimum points for groceries, merchandise, or balance
Rogers Mastercard	$0	2% on US dollar purchases	Up to 2% with a Rogers service, else 1%	Statement cash back
Tangerine Money-Back	$0	2% on 2 to 3 chosen categories	0.5%	Monthly cash back to card or savings
Neo Mastercard	$0	~1% groceries and gas, plus partner deals	Varies	Statement cash back
Neo World Elite	$149	5% groceries, 3% gas, 4% recurring	1%	Statement cash back
Simplii Cash Back Visa	$0	Up to 4% dining (to $5,000/yr)	0.5%	Annual credit each January

Who each card suits

Choose the PC Mastercard if your grocery and drugstore spending lives inside the Loblaw and Shoppers network and you want free groceries. Pick the Rogers Mastercard if you spend often in US dollars and want to soften the foreign exchange hit. Go with Tangerine if you like tailoring 2 percent categories to your habits without an annual fee. Consider Neo if you are comfortable with an app-first card and shop at its partners, or if a premium tier earns its $149 fee for you. Reach for the Simplii Cash Back Visa if dining out is a big line item in your budget.

There is no single winner here. The best card is the one whose earn structure overlaps most with your real spending, so map your last few months of statements against these categories before deciding. Compare the full field in our best cash back cards and no-fee cash back cards guides.

This article is for general information only and is not financial advice. Always confirm current rates, caps and fees on the issuer's official page before applying, as terms change.