Best cashback credit cards in Colombia
By Sofía Vargas (Editor-in-chief) · Reviewed by Sofía Vargas (Editor-in-chief) · Published · Reviewed
Also available in es-CO on Colombia.
Cashback in Colombia is still nascent compared to other Latin American markets, but there are solid options for users who prefer liquid returns over points or miles. This guide reviews the three most relevant cards with structural cashback in the Colombian market and explains when cashback wins versus a points program.
Direct answer
For cashback — colombia, the strongest pick today is CMR Mastercard Falabella, according to the BestCardIn editorial review.
Quick answers
- Is cashback taxed in Colombia?
- Cashback from a personal card is not considered taxable income according to current DIAN doctrine. Cashback received in a corporate account must be analyzed case by case with your accountant.
- Cashback or points: which is better in Colombia?
- Cashback is simpler and more predictable (1% is 1%, no surprises). Points can be worth more if redeemed in rewarded categories (flights on partner airlines), but require redemption discipline. For most users, plain cashback wins.
- Can I combine multiple cards to optimize cashback?
- Yes. The common strategy is: a specialized card (CMR for Falabella spend, RappiCard for Rappi) plus a general-purpose one. The important thing is that cashback exceeds the combined annual fees.
- Is cashback redeemed automatically?
- RappiCard yes (credited as in-app credit). CMR and Banco de Bogotá require manual redemption from the app or portal. Verify expiration dates: most expire after 12 months if unused.
Selected cards
CMR Mastercard Falabella
Banco Falabella Colombia
Annual fee: COP 28990.00 · Cashback: 10.00%
10% cashback in selected Falabella categories with a reasonable annual fee; ideal if you frequently shop at Falabella or partner stores.
RappiCard
RappiPay
Annual fee: No annual fee · Cashback: 3.00%
3% cashback on Rappi purchases with no maintenance fee; the best low-cost option if you use Rappi for food and deliveries.
CMR Black Falabella
Banco Falabella Colombia
Annual fee: COP 41990.00 · Cashback: 10.00%
Premium tier of CMR with elevated cashback, travel benefits and an expanded line; best for clients who consolidate spend at Falabella.
Banco de Bogotá Clásica
Banco de Bogotá
Annual fee: COP 532800.00 · Cashback: 5.00%
5% cashback in rotating promotional categories from Banco de Bogotá; high annual fee, requires analyzing your effective spend.
Quick comparison
| # | Card | Issuer | Annual fee | Cashback |
|---|---|---|---|---|
| 1 | CMR Mastercard Falabella | Banco Falabella Colombia | COP 28990.00 | 10.00% |
| 2 | RappiCard | RappiPay | No annual fee | 3.00% |
| 3 | CMR Black Falabella | Banco Falabella Colombia | COP 41990.00 | 10.00% |
| 4 | Banco de Bogotá Clásica | Banco de Bogotá | COP 532800.00 | 5.00% |
The highest cashback in the Colombian market (10% with CMR Falabella) is restricted to a specific ecosystem. If you already shop regularly at Falabella, Sodimac, Tottus or Linio, effective cashback can easily exceed $50,000 COP per month; if your spend is dispersed across many merchants, the real return will be much lower.
RappiCard is the most versatile no-fee cashback option: 3% on Rappi accumulates without a cap and is automatically redeemed as in-app credit. The 1% on external purchases is modest, but the zero cost makes net returns positive almost always.
Traditional cards from Bancolombia, Davivienda and Banco de Bogotá offer cashback in monthly rotating categories. This mechanic is complex and often produces low effective returns for the average user. Read the fine print carefully before choosing.
FAQ
Is cashback taxed in Colombia?
Cashback from a personal card is not considered taxable income according to current DIAN doctrine. Cashback received in a corporate account must be analyzed case by case with your accountant.
Cashback or points: which is better in Colombia?
Cashback is simpler and more predictable (1% is 1%, no surprises). Points can be worth more if redeemed in rewarded categories (flights on partner airlines), but require redemption discipline. For most users, plain cashback wins.
Can I combine multiple cards to optimize cashback?
Yes. The common strategy is: a specialized card (CMR for Falabella spend, RappiCard for Rappi) plus a general-purpose one. The important thing is that cashback exceeds the combined annual fees.
Is cashback redeemed automatically?
RappiCard yes (credited as in-app credit). CMR and Banco de Bogotá require manual redemption from the app or portal. Verify expiration dates: most expire after 12 months if unused.
Methodology
We compare nominal cashback against effective cashback under two spend scenarios. We subtract the annual fee from projected returns. We verify monthly caps, category exclusions and cashback expiration. We exclude cards with cashback only as a launch promotion.
Conclusion
If you regularly shop at Falabella, CMR Falabella or CMR Black are the best option. If you use Rappi, RappiCard wins on zero cost. For general spend without a specific focus, structural cashback options in Colombia are still limited; consider a points program as an alternative.