The Best Credit Cards for Gas in Canada
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The Best Credit Cards for Gas in Canada

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Last updated on November 23, 2022 Comments: 4

With soaring inflation and increasing prices of everything around us (including oil prices), many have felt the most significant impact while at the pump. Road trips have become more popular in the last few years, with so many of us avoiding air travel.

There’s no better time to save money on gas. Thankfully, plenty of gas credit cards in Canada can automatically provide those savings.

Below you’ll find the credit cards that give you cash back or reward points for gas purchases in Canada.

The Best Credit Cards for Gas in Canada

Card NameGas RewardsAnnual Fee
CIBC Dividend® Visa Infinite* CardAfter the Welcome Offer 4% cash back on eligible gas and grocery purchasesSee terms
TD Cash Back Visa Infinite* Card3% cash back$139 (First Year Fee Rebate)
MBNA Smart Cash Platinum Plus2% cash back‡$0
American Express® Gold Rewards CardStandard earn rate of 2 points per $1 at eligible gas stations$250
Tangerine Money-Back Credit Card2% cash back on up to three selected categories, including gas$0

Terms and conditions apply.

Apply Now
Who’s Eligible?
– Recommended Credit Score: Good
– Minimum Income: $60,000 individual, $100,000 household
– Age: The age of majority in your province or territory
– Residency: Canadian
– Other: No bankruptcy in the past 7 years

 

The CIBC Dividend® Visa Infinite* Card delivers the highest regular cash back rate on gas available in Canada at 4%. That means if you spend $60 on gas, you’re getting $2.40 back. Most other cards only offer 2% or 1.5% on gas. This deal is even sweeter for new cardholders with the Welcome Offer: Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!† So, during the 4-month welcome period, that same $60 spent on gas will give you $6 back instead of $2.40.

You can also save up to 10 cents per litre automatically on gas if you link your CIBC Dividend® Visa Infinite* Card with Journie Rewards at participating Pioneer, Fas Gas, Ultramar, and Chevron gas stations.

If you don’t meet the CIBC Dividend Visa Infinite Card’s income requirements, check out the CIBC Dividend Platinum® Visa* Card instead. It gives a strong 3% cash back rate on gas and the income requirement is a mere $15,000 per year.

Key Features

  • Welcome Offer: Get a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!
  • Regular Cash Back: After that, 4% cash back on eligible gas and grocery purchases; 2% cash back on eligible transportation, dining purchases and recurring payments; 1% cash back on all other purchases; Get cash back on demand – redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®
  • Additional Perk: No limit on annual cash back
  • Annual Fee: $120 (first year rebate)
  • Interest Rates: 20.99% Purchase Annual Interest Rate, 22.99% (for non-Quebec residents only) Cash Advance Annual Interest Rate and 22.99% (for non-Quebec residents only) Balance Transfer Annual Interest Rate

This is a digital-exclusive offer. To be eligible for this offer, you must apply for a new eligible card using the “Apply Now” link available on this webpage.

Conditions apply

*Quebec Residents – Learn More about this CIBC product here

Résidents du Québec : Pour en savoir plus sur ce produit CIBC, suivez ce lien

Click here to apply for the card or learn more about it by reading our complete CIBC Dividend® Visa Infinite* Card review.

TD Cash Back Visa Infinite* Card

Apply Now
Who’s Eligible?
– Recommended Credit Score: Good-Excellent
– Minimum Income: $60,000 individual, $100,000 household
– Age: The age of majority in your province or territory
– Residency: Resident of Canada. Offer not available to residents of Quebec. Quebec residents click here.
– Other: No bankruptcy in the past 7 years

 

The cash back rate for gas on the TD Cash Back Visa Infinite* Card is only one percentage point lower than the CIBC Dividend Visa Infinite Card at 3%, which is still very respectable and much higher than the rates available for gas on most cash back cards out there.

The TD Cash Back Visa Infinite* Card also features a solid sign-up bonus: Earn 10% Cash Back on all Purchases for the first 3 months up to a total spend of $2,000. After your first $2,000 in Purchases, Gas Purchases, Grocery Purchases and Pre-Authorized Payments will continue to earn 6% up to a total spend of $3,500 for the first 3 months. Plus, no Annual Fee for the first year for the Primary and Additional Cardholders. Conditions apply. Must apply online by May 28, 2023.

Key Features

  • Welcome Bonus: Apply online by May 28, 2023 and earn 10% Cash Back on all Purchases for the first 3 months up to a total spend of $2,000. After your first $2,000 in Purchases, Gas Purchases, Grocery Purchases and Pre-Authorized Payments will continue to earn 6% up to a total spend of $3,500 for the first 3 months. Plus, no Annual Fee for the first year for the Primary and Additional Cardholders. To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening.
  • Cash Back: Earn 3% cash back on gas, groceries and recurring bill payments, 1% on all other purchases. You can even play around with a calculator on the website to see how much cash back you could earn based on your spending.
  • Additional Perks: Mobile Device InsuranceTravel medical insurance and emergency roadside assistance

Click here to apply for the card or learn more by reading our complete TD Cash Back Visa Infinite* Card review.

Terms and conditions apply.

MBNA Smart Cash Platinum Plus® Mastercard®

Apply Now
Who’s Eligible?
– Recommended Credit Score: Good
– Minimum Income: N/A
– Age: The age of majority in your province or territory
– Residency: Resident of Canada.
– Other: No bankruptcy in the past 7 years

 

If you’re looking for the best cash back on gas for the average joe, MBNA Smart Cash Platinum Plus® Mastercard® is it. It has no annual fee, no income requirement and your credit score needs to be average. Plus, for the first six months, MBNA Smart Cash Platinum Plus competes with those slightly better cards when you can get 5% cash back on gas and groceries, which translates to $6 back from a $120 spend. The cap is also lower, as it’s up to $500 in purchases. Still, the rate switches to 2%‡ thereafter, and remains consistent.

Key Features

  • Welcome Bonus: 5% cash back on gas and groceries in the first 6 months (spending capped at $500)
  • Cash Back: 2% cash back‡ on gas and groceries (spending capped at $500)
  • Purchase APR: 19.99%
  • Balance Transfer APR: 22.99%
  • Cash Advance APR: 24.99%
  • Additional Perks: No annual fee for you and up to 9 authorized users, purchase assurance, extended warranty and rental car discounts

Click here to apply for the card or learn more by reading our complete MBNA Smart Cash Platinum Plus® Mastercard® review.

‡, ††, ✪, Terms and Conditions apply

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

American Express® Gold Rewards Card

Apply Now
Who’s Eligible?
– Recommended Credit Score: Good-Excellent
– Minimum Income: N/A
– Age: The age of majority in your province or territory
– Residency: Resident of Canada.
– Other: Must have an active credit file

The American Express® Gold is the best card for gas for a frequent flyer, as the points you earn can be transferred 1:1 to many travel programs, including Aeroplan.  You get 2 points per $1 spent at eligible gas stations, but the sign-up bonus ranks this card among “the best.” Earn up to 50,000 Membership Rewards® points – that’s up to $500 towards your next flight or dinner out with friends.

  • New American Express® Gold Rewards Cardmembers can earn a Welcome Bonus of 40,000 points when you charge $3,000 in purchases to your Card in your first 3 months of Cardmembership.
  • Plus, earn an additional 10,000 points when you make a purchase between 14 and 17 months of Cardmembership.
  • Conditions apply.

Key Features

  • Welcome Bonus: Up to 50,000 Membership Rewards® (conditions apply)
  • Earn Rates: Earn 2 points for every $1 in Card purchases for eligible travel purchases, including flights, hotels, car rentals, cruises, and more; earn 2 points for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada, and 1 point for every $1 in Card purchases everywhere else.
  • Additional Perks: Valuable travel insurance coverage, flexible point redemption, referral bonuses and more.

Click here to apply for the card and learn more.

Tangerine Money-Back Credit Card

Apply Now
Who’s Eligible?
– Recommended Credit Score: Fair-Good
– Minimum Income: $12,000
– Age: The age of majority in your province or territory
– Residency: Resident of Canada.

 

The Tangerine Money-Back Credit Card lets you choose two categories out of ten to earn 2% cash back on your purchases, all without any annual fee. A third category may be selected if you choose to have your Rewards deposited into your Tangerine Savings Account. If you want to earn cash back on gas without dishing out a hefty annual fee, the Tangerine card can make for a great companion to your existing rewards card. If you have another card that earns a higher rate on categories like restaurants or groceries, then you can choose to earn a higher rate on gas purchases with this card, making it a great solution for bridging the gap in your cash back earnings.

Key Features

  • Welcome Bonus: Special 15% cash back rate* on the first $1,000 spent with the card ($150 cash back) in the first two months, apply by December 29, 2022.
  • Rewards: 2% on up to three select categories and 0.5% on everything else
  • Purchase APR: 19.95%
  • Balance Transfer APR: 1.95% for the first 6 months if you balance transfer within 30 days of getting your card (1% transfer fee applies)* and then 19.95%
  • Additional Perks: No annual fee, free extra cards, purchase insurance, extended warranty coverage

Click here to apply for the card or learn more by reading our complete Tangerine Money-Back Credit Card review.

*Terms and Conditions apply

Best Credit Cards for Gas Compared

Credit Card Rewards on GasWelcome BonusAnnual Fee
CIBC Dividend® Visa Infinite* CardRegular earn rate of 4% cash backGet a first-year annual fee rebate and earn a 10% cash back welcome bonus of up to $250!$120 First Year Annual Fee Rebate Apply Now

20.99% Purchase Annual Interest Rate,
22.99% (for non-Quebec residents only) Cash Advance Annual Interest Rate, and 22.99% (for non-Quebec residents only) Balance Transfer Annual Interest Rate
TD Cash Back Visa Infinite* Card3% cash back on gas, groceries and recurring bill paymentsEarn 10% Cash Back on all Purchases for the first 3 months up to a total spend of $2,000. After your first $2,000 in Purchases, Gas Purchases, Grocery Purchases and Pre-Authorized Payments will continue to earn 6% up to a total spend of $3,500 for the first 3 months. Plus, no Annual Fee for the first year for the Primary and Additional Cardholders. Conditions apply. Must apply online by May 28, 2023.$139 First Year Annual Fee RebateApply Now
MBNA Smart Cash Platinum Plus2% cash back on gas and groceries‡5% cash back†† on eligible gas and grocery purchases in the first six months$0Apply Now
American Express® Gold Rewards CardStandard earn rate of 2 points per $1 at eligible gas stationsUp to 50,000 Membership Rewards® points (conditions apply)$250 Apply Now
Tangerine Money-Back Credit Card2% cash back on two categories, including gas1.95% interest rate on balances transferred to Tangerine for 6 months (1% transfer fee applies). Special 15% cash back rate* on the first $1,000 spent with the card ($150 cash back) in the first two months, apply by December 29, 2022.$0Apply Now

Terms and conditions apply.

TD Cash Back Visa Infinite* Card offer is not available for residents of Quebec. For Quebec residents, please click here.

Reasons You’d Want Gas Credit Cards in Canada

Let’s say you’ve been on the fence about signing up for gas credit cards. Here are some reasons you should consider a gas credit card. 

Gas credit cards allow you to save money at the pump and to earn rewards for making a purchase that you were already going to make. Since many of us have to commute to work again, it only makes sense that we take advantage of our gas purchases to ensure that we get the most out of this. 

With prices of everything in the economy going up, it’s more important than ever to find any savings you can. Some gas credit cards will allow you to save a specific amount every time you’re at the pump, so you’re always saving money. 

In the next section, we will go over the benefits and draws of looking for the best credit cards for gas. 

Benefits of Gas Credit Cards 

The primary reason for using a gas credit card is the discounts for gas purchases. Every gas credit card has a different program, but saving money every time you’re at the pump will go a long way with your monthly budget, especially if you drive a lot. 

Another benefit of gas credit is the rewards that they offer. Some gas credit cards will offer you up to 3% back on gas station purchases with your card. This means that if you commute to work or go on many road trips, you could be earning money back without changing your spending habits. 

A gas credit card may also get you accepted much easier than some other credit cards where they would have a stronger criterion. You could get accepted for a gas credit card with fair credit and then use that credit card to build up your credit or to improve your credit history. 

best credit cards for gas canada

Image Source: Shutterstock

 

A final benefit of looking for the best gas credit cards is that these credit cards tend to offer enticing sign-up bonuses. You can earn a decent sign-up bonus if you meet the minimum spending requirement for the first few statements. These various bonuses can help you build your points up or earn enough cash-back rewards to make it worth switching credit cards. 

Drawbacks of These Credit Cards

While you could benefit from using a gas credit card, it’s essential that we highlight why you may not want to go with this option. 

You could find better rewards with another credit card. Many general credit cards offer better cash-back rewards. For example, some credit cards could offer 5% cash back on gas purchases without being branded as a gas credit card. You could find an overall credit card with better offers on all fronts instead of just seeking a gas credit card. 

Gas credit cards could also have higher interest rates. As a result, you would have to be diligent about paying off your balance in full monthly. That way, you don’t spend more money on interest to offset any rewards you’ve earned. 

Here are some additional drawbacks of gas credit cards that you should consider: 

  • There could be earning caps – This means that you could have a limit on how many rewards you could earn within a year.
  • Limited rewards options – We all look for different ways to optimize our credit card rewards, so it’s important to know that some gas credit cards will restrict how you can use your rewards. This means you could only redeem your rewards on discounted gas purchases instead of anything else. 

Power of the Pump

These credit cards will give you the most if you want more when paying at the pump. Whether it’s cash back or reward points, you’ll cover gas for every carpool, ride out with friends, or road trip and reap the benefits these cards have to offer. In a time when every penny counts, make each litre count as well by seeking out the best gas credit card for your situation. 

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

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Author Bio

Aaron Broverman
Aaron Broverman is a freelance writer based in Toronto. When he’s not writing about money for publications like Yahoo Canada and GreedyRates, you’re likely to find his nose in a comic book. He likes comics so much, he hosts a podcast called Speech Bubble where he interviews those involved in the comic industry. You can follow him on Twitter: @broverman

Article comments

4 comments
Davien Reed says:

You definitely want to stay away from PC Financial MasterCard. While you might indeed earn .10 per litre in short term, if you purchase too much fuel, say you have a work truck and fill every other day, they actually will shut your card down, claim they can do so for no reason (they’re right) and your credit takes a hard knock. This is because PC Financial doesn’t want you to use the card that way and it’s in their fine print.

Another thing to keep in mind is PC Financial monitors all your transactions. Not in the sense of looking for fraud or to improve their products but rather to judge you personally and if they feel you are buying things perhaps for your business rather than home, again your account is revoked.

They are a bank geared for low income earners and those with a poor education or new immigrants. Their business model is set up to exploit this. It’s not a good card at all for those who actually read the fine print. If you’re thinking of PC Financial give their CSR a call to ask and after your one hour plus hold you can also ask yourself if this is really the right financial institution for you.

Daniel at GreedyRates says:

Hi Davien,
Thanks for sharing your experience and appreciate the warning. I’m sorry that your account was revoked- the fine print will always get you. Since the PC Financial Mastercard didn’t work in your favour, did you settle on a more favorable alternative?

Joe says:

Best Gas Car is PC MasterCard world elite with purchases at Mobil Stations. up 10 cents per litre off all the time. This card beats all on your list. I will let you do the calculations

Aaron Broverman says:

Already trolling eh Joe? Honestly, I don’t actually pick the list, I just do the write-up on each card that’s pre-picked by the Greedyrates brain trust, so we might have to wait until the next iteration of this article to include your suggestion. I will take it under advisement though. Good looking out.