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Use Cash Back Cards to Furnish Your New Home

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Now that you’ve bought a new home, you’ll need to furnish the place. If you don’t have a lot of money to spend, you can use cash back credit cards to help offset the costs of new furniture.

While many rewards cards offer points for specific items like hotel stays or plan tickets, cash back cards provide you with a percentage of your spending in the form of a credit on your statement or in your bank account. If you don’t like to travel a lot, then a cash back card is a good option.

We’ve created a list of our favourite cash-back credit cards. Here are our top five:

1. MBNA Rewards World Elite

The MBNA Rewards World Elite card provides you 2% cash back on all eligible purchases. Although the card has an annual fee of $89, it’s waived for the first year. After you’ve signed up and make your first purchase, you’ll receive 10,000 MBNA Rewards Points, which is a $100 value. To qualify for the card, your annual income must be more than $70,000 or your total household income has to be above $120,000.

2. Scotia Momentum Visa Infinite

Another great cash back credit cards is the Scotia Momentum Visa Infinite card. You’ll earn 4% cash back on gas and groceries on the first $25,000 you spend as well as 2% back on recurring bill payments and drug store purchases on the first $25,000 you spend. After you spend more than $25,000 in those categories, you’ll earn 1% cash back. For all other purchases, you’ll also earn 1% cash back. Like the MBNA Rewards World Elite card, the annual fee ($99 for this card) is waived for the first year. The minimum personal income requirement for this card is $60,000 annually or a total household income of $100,000 a year.

3. SimplyCash Preferred Card from American Express

For the first six months that you have the SimplyCash Preferred Card from American Express, you’ll earn 5% cash back on all of your purchases (up to $400). Once the six months are over, you’ll get 1.5% back on the first $100,000 you spend each year. If you manage to spend more than $100,000, then the cash back rate falls to 1.25%. You can earn even more cash back by referring your friends. You’ll get $200 cash back for each approved referral up to a maximum of $3,000 a year. The card has an annual fee of just $79 and you only need an annual income of $15,000 to be able to apply for this card.

4. SimplyCash Card from American Express

What makes the SimplyCash Card from American Express great is that it doesn’t have an annual fee. For the first six months, you’ll be able to earn 5% cash back at grocery stores, gas stations, and restaurants (up to $250). After the welcome rate ends, you’ll earn 1.25% cash back on all your purchases. And if you refer a friend, you’ll earn a bonus of $100 cash back for each approved referral up to a maximum of $1,500 a year. To qualify for the card, your annual income needs to be just $15,000.

5. BMO CashBack MasterCard

Last but not least, is the BMO CashBack MasterCard. There’s no annual fee on this card and you’ll earn 1% cash back on all purchases without any restrictions. You’ll get $25 cash back if you apply before April 30. And you’ll get another $50 cash back if you spend $1,500 in the first three months of receiving the card.

The bottom line

Purchasing a property may leave you with a little less money. But if you spend responsibly with a cash back credit card, you can use your earnings to help furnish your new place. is a website that compares mortgage ratescredit cards and deposit rates with the goal to empower Canadians to search smarter and save money.

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