Best Credit Cards for Groceries in Canada for Oct 2022

The best grocery credit cards in Canada put money back in your wallet when you shop at a grocery store.

Food purchases are essential for everyday living and the average Canadian spends a significant chunk of their income on buying food and drink.

With the right mix of cash back apps, credit cards, and loyalty programs, you can put a little dent in your monthly spending.

The best credit cards for groceries on this list offer cash back or rewards points you can redeem towards travel purchases or to pay down your statement balance.

Several of them are also featured on our list of the best cash back credit cards in Canada.

Best Groceries Credit Cards in Canada

If you are in the market for a top-rated grocery credit card, start with this list:

Best No Fee Credit Card For Groceries

Tangerine Money-Back Credit Card

This credit card has a low-income requirement of $12,000 and is one of the best for earning cash back on grocery purchases.

The Tangerine Money-Back Credit Card has no ridiculous annual fees and you earn a base 2% cash back on two categories of spending of your choice.

The 2% categories you can choose include grocery, gas, restaurants, recurring bill payments, public transportation, hotel, drugstore, home improvement, furniture, and entertainment.

If you choose to deposit your cash back earnings into a free Tangerine Savings account, you earn 2% cash back on a third bonus category.

All other purchases earn rewards at a 0.5% rate.

The great thing about this card is that you can earn unlimited cash back at these rates and can cash out every month. You can also use it for 2% back at Walmart Supercentres.

  • Annual fee: $0
  • Grocery rewards: Up to 2% cash back
  • Perks: 1.95% balance transfer for 6 months; extended warranty and purchase protection.

If your personal annual income is $60,000 or higher, you can opt for the premium version of this card, Tangerine World Mastercard.

It offers additional perks including free global Wi-Fi, rental car insurance, mobile device insurance, and up to 2% cash back on groceries.

It also has no annual fees!

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 15% cash back on up to $1,000 in spending in the first 2 months ($150 value).

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

Best Grocery Credit Cards for Travel Rewards

The two premium credit cards below offer exceptional rewards points on grocery purchases and you can redeem these points for travel, gift cards, a statement credit, and more.

Scotiabank Gold American Express Card

The Scotiabank Gold American Express is one of the best travel rewards cards in Canada. It is also great for grocery spending.

This card offers 5 Scene+points for every dollar spent on groceries, restaurants, fast food, food delivery, and drinks. This 5% reward rate also applies to entertainment purchases.

It offers 3 points per dollar when you purchase gas or take public transportation, and 1 point per dollar spent elsewhere.

New cardholders get 20,000 bonus points after spending at least $1,000 in the first 3 months, plus an extra 20,000 points when they spend $7,500 in the first year. These welcome bonuses alone are valued at $400.

Add in comprehensive travel assurance coverage and premium perks, and this card is definitely worth checking out.

  • Annual fee: $120
  • Grocery rewards: 5% earn rate
  • Perks: 8 types of travel insurance, discounted Priority Pass membership, Amex Perks, no foreign transaction fees

The  Scotiabank Gold AMEX card is easy to qualify for and has a $12,000 minimum income requirement.

One downside of this card is that American Express cards are not accepted everywhere.

Scotiabank Gold American Express

Rewards: Earn 5x Scene+ points/$1 on grocery, restaurants, food delivery; 3x points/$1 in gas & travel; 1x points/$1 everything else.

Welcome offer: Get up to 40,000 points ($400 value).

Interest rates: 20.99% on purchases; 22.99% on cash advances.

Annual fee: $120

American Express Cobalt Card

The American Express Cobalt Card is easily one of the best credit cards in Canada.

You earn 5 points for every dollar spent on groceries, restaurants, bars, and food delivery purchases. For spending on streaming subscriptions, you get 3 points per dollar; for travel and transit, you earn 2 points per dollar; and 1 point per dollar on all other purchases.

New cardholders get 2,500 each month they spend at least $500 for a total of 30,000 points ($300 value) in the first year.

These bonus points are valued at $300 at a minimum when used for travel rewards.

The AMEX Cobalt also provides comprehensive travel insurance (7 types), American Express Invites, and more.

  • Annual fee: $155.88 ($12.99 paid monthly)
  • Grocery rewards: 5% earn rate comprehensive
  • Perks: Travel and shopping insurance coverage

A downside of this card is the $30,000 annual limit on purchases earning at the 5% rate.

American Express Cobalt Card

Rewards: Earn 5x pts per $1 spent on food & drinks; 3x pts on streaming subscriptions; 2x pts on travel; 1x pts everywhere else.

Welcome offer: Get up to 30,000 bonus points in the first year.

Interest rates: 20.99% on purchases and 21.99% on cash advances.

Annual fee: $155.88

Best Cash Back Credit Card For Groceries

I personally prefer real cash back to points simply because it is easier to spend and redeem loyalty rewards that way.

Scotia Momentum Visa Infinite Card

The Scotia Momentum Visa Infinite offers one of the best cash back earn rates on grocery purchases.

You earn 4% cash back on grocery store purchases, recurring bill payments, and subscriptions such as meal kits, music streaming, and more.

For gas and daily transportation, the earn rate is 2% cash back, and all other purchases earn at a 1% rate. The first year’s fees are also waived.

In addition to cash back, this card comes with comprehensive travel insurance coverage, new mobile device insurance, rental car insurance, purchase protection, and extended warranty coverage.

While there is a $25,000 annual cap on purchases that earn at the 2% and 4% rates, the average spender is unlikely to exceed them.

  • Annual fee: $120; waived in the first year
  • Grocery rewards: 4% cash back (10% cash back for a limited time)
  • Perks: Comprehensive travel insurance coverage; Visa Infinite Perks

One downside of this card is that you need a personal income of at least $60,000 to qualify.

Scotiabank Momentum Visa Infinite Card

Rewards: Earn 4% cashback on groceries & recurring bills; 2% cashback on gas & daily transit; 1% cashback on everything else.

Welcome offer: Earn 10% cashback in the first 3 months on up to $2,000 spent ($200 value).

Interest rates: 20.99% on purchases; 22.99% on cash advances.

Annual fee: $120

Best Store Credit Card for Grocery Rewards

If you shop at Loblaws grocery stores including Superstore, No Frills, Wholesale Club, Extra Foods, and the others, you can use a PC Financial Mastercard to rack up PC Optimum points.

These points can easily be redeemed in-store and online to pay for your purchases at participating stores.

Three cards are offered under the PC Financial brand:

Of the three options, the PC Financial World Elite has the best earn rate at 45 PC Optimum points per dollar (4.5%) when you shop at Shoppers Drug Mart and 30 points per dollar (3%) in Loblaw grocery stores.

This card also earns accelerated rewards on gas purchases at Esso-Mobil and on travel at PC Travel.

For all other purchases, you earn 10 PC Optimum points per dollar.

  • Annual fee: $0
  • Grocery rewards: 3%
  • Perks: Travel emergency medical and car rental insurance; purchase protection, extended warranty, and 24/7 concierge.

To apply for the PC World Elite, you need a minimum personal income of $80,000 per year.

PC financial world elite mastercard

Best Credit Card for Shoppers at Costco

Since Costco only accepts Mastercards, the best cash back credit card for shopping there is one that has a base high earn rate for purchases in general.

Rogers World Elite Mastercard

If you are looking for a no-fee card that offers cash back rewards on both CAD and USD spending, the Rogers World Elite Mastercard performs well.

While its cash back rates were recently dialled back, you still earn 1.50% unlimited cash back on all purchases made in Canadian dollars. For U.S. dollar spending, the earn rate is 3%.

The Rogers World Elite also offers several travel insurance benefits including rental car, emergency medical, trip interruption and cancellation insurance.

In addition, it provides several benefits you typically only find with premium cards that have a fee, such as free global Wi-Fi hotspots, complimentary membership in Mastercard Airport Experiences, and more.

  • Annual fee: $0
  • Grocery rewards: 1.5% earn rate
  • Perks: Comprehensive travel benefits, free Boingo Wi-Fi

A downside of this card is that you need a personal income of $80,000 to qualify. Also, you must spend at least $15,000 each year to maintain your eligibility.

For Costco shopping, you can also use The CIBC Costco Mastercard.

Rogers World Elite Mastercard

Best Credit Cards For Groceries

Credit CardGrocery Earn RateAnnual Fee
Tangerine Money-Back Credit Card2% cash back (15% bonus offer for a limited time)$0
American Express Cobalt Card5 points per $1 (5%)$120
Scotiabank Gold American Express5 points per $1 (5%)$120
Scotia Momentum Visa Infinite4% cash back (10% promo rate for 3 months)$120
Rogers World Elite Mastercard1.5% cash back$0
PC Financial World Elite Card30 PC Optimum points per $1 (3%)$0

Best Credit Offers in October 2022

Earn up to 15% cash back for a limited time ($150 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories; 0.5% elsewhere.

Get 15% bonus cash back in the first 2 months ($150 value).

1.95% balance transfer offer for 6 months.

Get up to 5% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard plus a $20 welcome bonus.

Free budgeting app with automatic savings features.

Access to a portion of your paycheque three days early.

1.20% savings interest on every dollar balance.*

The Neo Card pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Earn up to 5% cash back at 7,000+ participating stores.

No annual account fees.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

5 thoughts on “Best Credit Cards for Groceries in Canada for Oct 2022”

  1. BMO cash back offers a 3% cash back at no fee.

  2. How does the system know how much of your Walmart or Costco shopping bill falls into the ‘groceries’ and ‘pharmaceuticals’ categories and what does not? Or are Walmart and Costco purchases not valid for cash back?

    • @Tony: It depends on which card you are using. Some cards explicitly exclude Costco from grocery purchases. The MCC codes usually stipulate which type of store falls under each category and subcategories.

  3. Would car purchase and car servicing come under ‘transportation’ – or is there a sleazy get-out clause neutralizing this natural assumption on the part of the honest but gullible?

    • @Tony: I doubt it. Transportation usually refers to public transit. Or, in some cases, gas purchases.

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