The Globe and Mail reports in its Saturday edition that cash-back credit cards are relatively easy to rank because the rate of return is straightforward. Guest columnist Barry Choi writes, however, there are a few things to be aware of. Even though both Rogers credit cards rank high because you can earn 2-per-cent cash back if you have a qualifying service with Rogers, Fido or Shaw, it does not factor in the increased earning rate of 3-per-cent cash back when redeeming Rogers, Fido or Shaw purchases -- including your monthly bills. If you do not use any of their services, the value proposition drops considerably. The Tangerine credit cards rank quite low owing to the base earning rate of 0.5-per-cent cash back, but you can choose up to three categories where you earn 2-per-cent cash back. Depending on your spending habits, this could be a good choice. Plus, the card has no annual fee, and the cash back earned is paid out monthly. You could also argue that the American Express Cobalt Card should be on this list. Even though the card earns you American Express Membership Rewards points, you can redeem 1,000 points for $10 off one of your eligible purchases. Mr. Choi says it is essentially a hybrid cash back/travel card.
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