21 Best Credit Cards in Canada + Runners-Up for May 2024

Fact Checked: Scott Birke

🗓️

Updated: May 17, 2024

Skip Ahead

Skip Ahead...

Partners on this page provide us earnings.

View the best Canadian credit cards by category to find your best credit card.

The range of Canadian credit cards available is vast, spanning cards that earn flexible cash back and travel rewards to those with low interest rates and low credit score requirements. But how do you separate the best new credit cards from the rest? Use our list of the best credit cards in Canada to help you find the best card for your lifestyle.

Credit card categories
Best overall credit card

Best credit card in Canada overall

American Express Cobalt® Card

Apply now

15,000 pts

Fair

Earn up to 15,000 Membership Rewards points

Earn 5 times he points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.

5x

Earn 3 times the points on eligible streaming subscriptions in Canada.

3x

Get 2 times the points on eligible ride shares, transit & gas in Canada.

2x

Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online

1x

Earn 1 point for every $1 in Card purchases everywhere else

1x

Get up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel.

$100 USD

Purchase APR

21.99%

Cash Advance APR

21.99%

Annual Fee

$155.88

Foreign Transaction Fee

2.50%

Recommended Credit Score

Fair

Required Annual Personal Income

$0

Required Annual Household Income

$0

Pros

  • High earn rates (up to 5% return on spending!)

  • Flexible month-by-month fee structure

  • Free supplementary cards

  • 1:1 points transfer with selected hotels, airlines and frequent flyer programs

Cons

  • Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)

  • Amex has a more limited merchant acceptance rate than Visa and Mastercard

  • Slightly higher than average annual fee

Why we picked the Cobalt as the best credit card in Canada

The Amex Cobalt is one of the best credit cards for travel rewards in Canada and consistently awarded best Amex in Canada. Compared to other mid-tier travel cards, this option offers better value and versatility. From its high earn rate in everyday spending categories to its full suite of insurance offerings, this card is sure to be regularly used in your wallet.

While $155.88 is a higher annual fee for a mid-range card, they break it down into manageable monthly payments of $12.99 making it much more accessible to all.

Earn rate: Earn 5x the points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery (think groceries, cafes, restaurants and bars), earn 3x the points on eligible streaming subscriptions in Canada (e.g. Apple TV+, Crave, Disney+, Netflix, Spotify and more), earn 2x the points on eligible ride shares, transit & gas in Canada , and earn 1 point per dollar spent on everything else (plus 1 additional point on eligible hotel and car rental bookings via American Express Travel Online). This high earn rate also makes the American Express Cobalt the best credit card for travel points. However, it does not win the travel category because it lacks key travel perks like airport lounge access, no foreign exchange fees, and priority treatment at airports.

Insurance: Emergency medical, travel accident, flight delay, lost luggage, hotel burglary, rental car insurance and more—the Cobalt comes packed with travel insurance. It'll even pay up to $1,000 under mobile device insurance, in the event of theft, loss, or accidental damage anywhere in the world (you just have to have bought your phone with the card within 2 years from date of incident).

Looking for more of the best American Express Cards in Canada? Read our dedicated page of the best Amex cards in Canada to see all your options.

Terms and conditions apply.

More of the other best credit cards in Canada

Scotiabank Momentum® Visa Infinite

Apply Now

Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on additional cards.

$120 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

TD® Aeroplan® Visa Infinite* Card

Apply Now

Earn up to $1,200 in value† including up to 50,000 Aeroplan points†. Conditions Apply. Account must be approved by June 3, 2024.

$139 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

CIBC Aventura® Gold Visa

Apply Now

Get a total of up to 40,000 Aventura Points during your first year†

$139 Annual Fee

Good Recommended Credit Score

Best for travel

Best credit card for travel

Scotiabank Platinum American Express® Card

Apply now

up to 60K pts

Good

Earn up to $2,100* in value in the first 14 months, including up to 60,000 bonus Scene+ points

Expires

Nov 1, 2024

Scene+ points for every $1 spent on all other eligible purchases

2x

No foreign transaction fees

0%

Complimentary airport lounge passes per year

10

Purchase APR

9.99%

Balance Transfer Rate

22.99%

Cash Advance APR

9.99%

Annual Fee

$399

Foreign Transaction Fee

0.00%

Recommended Credit Score

Good

Pros

  • The card offers a competitive low interest rate on purchases, cash advances, and balance transfers

  • Comprehensive insurance coverage

  • Complimentary Airport lounge access

  • No foreign transaction fees

  • Ideal for travelers as it has no foreign transaction fees

  • Offers a substantial welcome bonus that can be worth up to 60,000 Scene+ points

  • Enjoy premium perks like Hertz #1 Club Gold membership and concierge services.

Cons

  • High annual fee: At $399, the annual fee is steep, which could offset the rewards and benefits for some cardholders

  • Below average rewards rate: Lower compared to other cards with similar or lower annual fees

  • Limited American Express acceptance: Especially outside major cities

  • Rewards potential: The net rewards potential is relatively low when considering the high annual fee

  • Non-transferable points: Scene+ points cannot be transferred to other rewards programs

Why we picked the Scotia Platinum Amex as one of the best travel credit card in Canada

Among all the best travel credit cards in Canada, we like the Scotia Platinum Amex for its low APR and high number airport lounge access passes.

It's hard to beat a card that gives you high earn rates on everyday expenses and a flexible points program that allows you to use those points on any airline, anytime without restriction. Then, to avoid foreign transaction fees while travelling puts the Scotia Platinum Amex over the top.

Oh wait! The travel insurance is what really gives the Scotia Amex Platinum its winning status in the travel category. Not all cards, for a moderate annual fee, give you Emergency Medical travel insurance and Travel Accident insurance. But then, they throw in trip cancellation, flight delay, lost baggage, hotel burglary, rental car insurance, plus new mobile device insurance, purchase security and extended warranty—it's one of the best insurance packages I've seen making it one of the best travel credit cards in Canada.

It also gives you a whopping 10 airport lounge passes sure to please both you and your fellow travellers, be it a partner, a friend, or the whole family making it our winner for the best travel credit card in Canada.

More of the best credit cards for travel

Scotiabank Gold American Express®

Apply Now

Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points.

$120 Annual Fee

Very Good Recommended Credit Score

Scotiabank Passport® Visa Infinite*

Apply Now

Earn up to $1,300* in value in the first 12 months, including up to 40,000 bonus Scene+ points and first year annual fee waived

$150 Annual Fee

Good Recommended Credit Score

$60,000 Required Annual Personal Income

The Platinum Card

Apply Now

Earn 70,000 Membership Rewards® points1*

$799 Annual Fee

Excellent Recommended Credit Score

Read more: Best travel credit cards

Best for cash back

Best credit card for cash back

CIBC Dividend® Visa Infinite

Apply now

10% back

Good

Get a first-year annual fee rebate and earn 10% cash back welcome bonus of up to $250!†

Earn 4% cash back on gas, EV charging, and groceries.

4%

Earn 2% cash back on dining, transportation, recurring payments or bills.

2%

Earn 1% cash back on all other purchases with no limit.

1%

Save 10 cents per litre with CIBC and Journie Rewards (Ultramar, Chevron, Pioneer, Fas Gas)

10 cents

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$120

Recommended Credit Score

Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Pros

  • Very high cash back rates on eligible groceries and gas and electric vehicle charging

  • Lucrative welcome offer

  • Flexible cash back redemption policy

  • Premium Visa Infinite benefits†

  • No limit on the total cash back you can earn†

Cons

  • Maximum annual spending limits in accelerated cash back

  • High-ish annual fee

  • Mid-level income requirement

Why we picked the CIBC Dividend® Visa Infinite* Card as the best cash credit card in Canada

If we could build the ideal cash back rewards card, it would pretty much look like this. As far as rewards credit cards go, the CIBC Dividend® Visa Infinite* Card makes earning and redeeming cash back almost effortless. With high flat rates and no rotating categories, this is a general cash back card that deserves a top spot in your wallet.

You’ll earn between 1% and 4% cash back no limit on the total cash back you can earn. After the Welcome Offer ends, you’ll earn 4% on some categories that probably take up a good portion of your spending, eligible gas, EV charging and groceries; 2% on eligible transportation, dining purchases and recurring payments such as bills; and 1% on all other eligible purchases. CIBC sets you up for success with cash back categories that should naturally cover your spending on needs, wants and fun and keeps it simple by locking these categories in rather than switching them up.

This isn’t a bad card for travelling either with benefits like insurance and discounted car rentals along with global perks like 1% cash back for every $1.00 spent on a CIBC Global Money Transfer™.

Although a $120 annual fee might seem steep for a credit card outside of the premium category, we feel that it’s worth paying for these high base earning rates. Plus, you can actually have this fee waived every year you also have a CIBC Smart Plus™ Account. This is a chequing account with unlimited transactions and few fees.

To qualify for the CIBC Dividend® Visa Infinite* Card, you’ll need an individual income of $60,000 or more or a household income of $100,000. Interest rates for this card are high at 20.99% for its Annual Purchase Interest Rate and 22.99% (for non-Quebec residents only) and for its Cash Advance and a Balance Transfer Annual Interest Rate at 22.99% (for non-Quebec residents only), so we don’t recommend this card if there’s any chance you won’t be able to pay off your balance in full from month to month. But otherwise, consider it if you need a card for the bulk of your purchases.

  • Eligibility criteria

    +

    To be eligible for this offer:

    1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and

    2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.†

    This offer is reserved for you. Please do not forward it to anyone else.

    CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Dividend card within the last 12 months.†

    †Terms and Conditions Apply

Compare the other best credit cards for cash back

BMO CashBack® World Elite® Mastercard

Apply Now

Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first anniversary*.

$120 Annual Fee

Excellent Recommended Credit Score

$80,000 Required Annual Personal Income

SimplyCash® Card from American Express

Apply Now

Earn up to $100 in Statement Credits in your first 10 months as a new cardmember

$0 Annual Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

TD Cash Back Visa Infinite* Card

Apply Now

Earn up to $500 in value†, including 10% in Cash Back Dollars in the first 3 months on Bonus Eligible Purchases up to a total spend of $3,500†. Conditions apply. Account must be approved by June 3, 2024.

$139 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

Read more: Best cash back credit cards

Best for students

Best credit card for students

BMO CashBack® MasterCard®

Apply now

5% cash back

Good

Get 5% cash back in your first 3 months*

Expires

Jun 1, 2024

Cardholders earn 3% (up to a monthly max of $500) cash back on groceries

3%

Cardholders can earn 1% (up to $500 per month) on any recurring bill payments*

1%

Cardholders can earn 0.5% (no monthly max) on all other eligible purchases*

0.5%

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

Pros

  • No Annual Fee: A rare find in Canada for a cash back card

  • A generous 3% cash back on groceries (up to $500 monthly)

  • Easily redeem from $1, set up automatic redemptions, or use as a statement credit

  • Additional perks include discounts on rentals, free supplementary cards and show discounts

Cons

  • Outside of groceries and recurring payments, the standard earn rate drops to 0.5%

  • Monthly caps on top earn rates for groceries and recurring payments

  • A 2% balance transfer fee applies

  • The interest rate on the remaining balance transfer amount increases after the introductory period

Why we picked the BMO CashBack® MasterCard® as one of the best student credit cards in Canada

Consistently one of the best credit cards for students in Canada, the BMO Cash Back Mastercard understands what students need. Kicking it off with no annual fee is one thing, but you can earn up to $125 in cash back in your first three months with its 5% cash back welcome offer—essentially, they're paying you to use this card.

Then it rewards on the right categories without forcing you to shop at any particular store. You get 3% on cash back on all grocery stores and supermarkets (whatever's closest to you), 1% cash back on recurring bills (think Spotify, Netflix, cell phone, internet) and 0.5% cash back on everything else.

You also don't have to wait for your cash back, you can redeem it anytime. Some cards force you into monthly or annual pay outs. And, you can put that cash back towards your credit card or a BMO chequing or savings account or into a BMO investor line account (a great way to start investing early, even if it's hard when you're a student).

The only difference between the Student BMO CashBack Mastercard and the BMO CashBack Mastercard is the non-student version gives you a 0.99% balance transfer for 9 months—so if you're carrying credit card debt, pay it off faster with lower interest rates.

Finally, the extended warranty insurance and purchase protection makes buying your laptop and cell phone a little more comfortable knowing BMO has your back in case something bad happens.

And, if you do need a new laptop, you can use BMO PaySmart™ installment plans that turns your credit card purchases into smaller, interest-free monthly payments with a low fee.

More of the best credit cards for students in Canada

Tangerine Money-Back Credit Card

Apply Now

Get 10% cash back on up to $1,000 in everyday purchases made within 2 months. Pay only 1.95% balance transfer interest for the first 6 months.

$0 Annual Fee

Fair Recommended Credit Score

$12,000 Required Annual Personal Income

Neo Secured Credit Card

Apply Now

$25 customer sign up bonus welcome offer

$0 Annual Fee

Poor Recommended Credit Score

$0 Required Annual Personal Income

American Express Cobalt® Card

Apply Now

Earn up to 15,000 Membership Rewards points

$155.88 Annual Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best Student credit cards

Best balance transfers

Best credit card for balance transfers

MBNA True Line Mastercard

Apply now

0% intro rate

Good

Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening.

Expires

Jan 1, 2025

New cardholders can enjoy a 0% promotional annual interest rate† (a 3% transfer fee applies) for 12 months on any balance transfer✪ completed within 90 days of opening the account

0%

Purchase APR

12.99%

Balance Transfer Rate

12.99%

Cash Advance APR

24.99%

Annual Fee

$0

Recommended Credit Score

Good

Pros

  • Solid welcome offer: 12 months of 0% APR† on balance transfers✪ made within the first 90 days (3% transfer fee applies)

  • No annual fee or minimum income requirement

  • Low standard interest rate of 12.99% for all new purchases charged to the card

  • Some extra perks like fraud protection and a discount on car rentals

Cons

  • 3% balance transfer fee is comparatively high

  • Very high cash advance interest rate of 24.99%

  • No insurance benefits

  • Can’t transfer a balance owed to either MBNA or TD

Why we picked the MBNA True Line Mastercard as the best credit card for balance transfers

You just can't beat a 0% balance transfer offer (even with a 3% fee) because it gives you a whole year, 365 days to pay down that balance. And, there's no annual fee, so it's a credit card that really helps you pay down debt without costing you a big up front payment.

Once your debt is paid off, you can continue to enjoy a low interest rate of 12.99% (which, sadly, also applies to any new balance transfers). Its cash advance fee of 24.99% is a deterrent and should be avoided.

If you buy something big, anything over $100, take advantage of the MBNA Payment Plan which breaks up big purchases into monthly payment terms of, 6. 12, or 18 months for a small fee.

More of the best credit cards for balance transfers

Scotiabank Value Visa

Apply Now

0% introductory interest rate on balance transfers for the first 10 months (12.99% after that; annual fee $29), plus no annual fee for the first year.¹

$29 Annual Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

BMO AIR MILES®† MasterCard®*

Apply Now

Get 800 AIR MILES Bonus Miles!* That’s enough for $80 towards purchases with AIR MILES Cash*

$0 Annual Fee

Good Recommended Credit Score

$15,000 Required Annual Personal Income

BMO Preferred Rate Mastercard®*

Apply Now

Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and BMO will waive the $29 annual fee in your first anniversary*.

$29 Annual Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best balance transfer credit cards

Best for rewards

Best credit card for rewards

CIBC Aventura® Gold Visa

Apply now

up to 40K pts

Good

Get a total of up to 40,000 Aventura Points during your first year†

Earn 2 points for every $1 spent on eligible travel purchased through the CIBC Rewards Centre†

2

Earn 1.5 points for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores†

1

Earn 1 point for every $1 spent on all other eligible purchases†

1

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$139

Recommended Credit Score

Good

Required Annual Household Income

$15,000

Pros

  • High value welcome offer

  • Minimal household annual income required

  • Exceptional points-redeemable travel opportunities and other perks

Cons

  • High annual fee (rebated for your first year)†

Why we picked the CIBC Aventura Gold as the best credit card for rewards

There are many rewards cards, but the CIBC Aventura Gold takes the gold for its perfect balance of a mid-tier annual fee ($139, free in the first year) and with loads of ultra flexible Aventura points (any airline, anytime). And the rewards keep piling up: NEXUS application fee rebate ($50), 4 Airport lounge passes (over $190 value), and three free authorized users ($50 each)—all told a value worth over $1,200.

But that's just the welcome offer.

You'll earn 2 points for every $1 spent on travel through CIBC Rewards Centre, 1.5 points on gas, EV charging, groceries (earn more with Journie Rewards by filling up with Pioneer, Chevron, FasGas and Ultramar), and drug stores, and 1 point on all other purchases per $1 spent.

Then let's tack on emergency medical, travel accident, flight delay, baggage, rental car, hotel burglary and mobile device insurance—and you are ready to reap the Aventura rewards.

More of the best credit cards for rewards

Scotiabank Gold American Express®

Apply Now

Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points.

$120 Annual Fee

Very Good Recommended Credit Score

MBNA Rewards World Elite Mastercard

Apply Now

Earn up to 30,000 bonus MBNA Rewards Points†† for cash back, gift cards and more.

$120 Annual Fee

Good Recommended Credit Score

$80,000 Required Annual Personal Income

American Express Cobalt® Card

Apply Now

Earn up to 15,000 Membership Rewards points

$155.88 Annual Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best rewards credit cards

Best for lounge access

Best credit card for airport lounge access

The Platinum Card

Apply now

70,000 pts

Excellent

Earn 70,000 Membership Rewards® points1*

Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada

2x

points for every $1 in Card purchases on eligible travel

2x

point for every $1 in all other Card purchases

1x

Purchase APR

21.99%

Annual Fee

$799

Foreign Transaction Fee

2.50%

Recommended Credit Score

Excellent

Pros

  • Earn 5X Rewards Points for flights and on prepaid hotels booked with American Express Travel

  • Access to a wide range of luxury perks, including premium concierge service

  • Complimentary lounge membership providing access to over 1,200 airport lounges worldwide

  • Annual statement credits: $200 airline fee credit, $200 hotel credit, $240 digital entertainment credit

  • Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.

  • Provides extended warranty (2 years) and purchase protection (120 days).

Cons

  • High annual fee of $799, one of the heftiest among Canadian cards

  • The rewards system can be complicated, especially for users not familiar with maximizing credit card points

  • Requires good to excellent credit for eligibility

Why we picked the Amex The Platinum as the best credit card for airport lounge access

With unlimited access to Airport lounges around the world, you should step into luxury and prestige of the Amex The Platinum. This card has everyone talking in the Money.ca headquarters and there are many reasons why.

For starters, the main drawback is its $799 annual fee. But, in "credit card math" land, it's basically free when you can earn up 100,000 Membership Rewards points (a value of $1,000). Amex also rewards its cardholders with a $200 annual travel credit and an annual $200 dining credit, so now the card is a profit centre (something like that anyway).

But its biggest perk is the American Express Global Lounge Collection giving you unlimited access to more than 1,300 airport lounges across 140 countries.

Make no mistake about it, this is a premium card and will require an good to excellent credit score, but there is no minimum income requirement (nor is there a pre-set spending limit because it's a charge card).

If you book with American Express Travel, you can get even more benefits with an average value of $550 US at over 1,300 properties giving you daily breakfast for two, late check-out, noon check-in, in-room wi-fi and room upgrades when available.

This card also fast tracks you to Hilton Honors gold status and Marriott Bonvoy Gold Elite Status. If you're flying out of Toronto's Pearson Airport, you can get through the security lane faster, complimentary valet service, and a 15% discount on parking.

The Platinum also includes a full suite of travel insurance coverage from out of province/country emergency medical up to $5,000,000 for 15 days, $500,000 travel accident insurance, trip cancellation insurance, trip interruption insurance, flight delay insurance, baggage delay, lost/stolen baggage, hotel burglary, and rental car insurance.

If that's not enough, consider The Platinum Card® has its own website—a dedicated hub curated for cardmembers to learn more about coverage and discover more special offers.

††, ***, Terms and Conditions apply

More of the best credit cards for airport lounge access

Scotiabank Passport® Visa Infinite*

Apply Now

Earn up to $1,300* in value in the first 12 months, including up to 40,000 bonus Scene+ points and first year annual fee waived

$150 Annual Fee

Good Recommended Credit Score

$60,000 Required Annual Personal Income

TD® Aeroplan® Visa Infinite Privilege* Card

Apply Now

Earn up to $2,900 in value† including up to 85,000 Aeroplan points†. Conditions Apply. Account must be approved by June 3, 2024.

$599 Annual Fee

Excellent Recommended Credit Score

$150,000 Required Annual Personal Income

Scotiabank Platinum American Express® Card

Apply Now

Earn up to $2,100* in value in the first 14 months, including up to 60,000 bonus Scene+ points

$399 Annual Fee

Good Recommended Credit Score

Read more: Best airport lounge credit cards

Best for no annual fee

Best credit card with no annual fee

Tangerine Money-Back Credit Card

Apply now

10% back

Fair

about new welcome offers by email

Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)

2%

Get a Tangerine Savings account and add a 3rd 2% cash back category.

3

Earn 0.50% on all your other everyday purchases.

0.5%

Purchase APR

19.95%

Balance Transfer Rate

1.95%

Cash Advance APR

19.95%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Recommended Credit Score

Fair

Required Annual Personal Income

$12,000

Pros

  • No annual fee

  • Choose the spending categories where you want to earn the most cash back

  • Unlimited cash back—no maximum spending limit for any purchase category

  • Cash back is paid out monthly rather than annually

  • Periodically includes a special welcome offer where you can get extra cash back

  • 1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*

Cons

  • Regular cash back rates are still lower than what you can get from a card with an annual fee

  • Limited extra perks or benefits beyond the cash back and balance transfer promotion

  • Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart

  • Tangerine does not have any physical bank branches

Why we picked the Tangerine Money-Back Credit Card as the best no fee credit card in Canada

What's better than a credit card with no-annual fee? One that rewards you with unlimited cash back rewards on everyday purchases (that you pick).

Until April 30th, 2024, you can get 10% cash back in your first two months (up to $100). It's a big reason why of all the credit cards with no annual fee, Tangerine is our winner for Canadian credit cards.

Now, Tangerine has a unique approach to cash back. Instead of telling you where you'll earn the most cash back and limiting you to certain categories they select, they instead give you the options. There are 10 categories to pick from: grocery, furniture, restaurants, hotel-motel, gas, recurring bills, drug stores, home improvement, entertainment, and public transportation and parking. So, just pick where you spend the most amount of money and start reeling in the cash. Anything outside those categories earns 0.50% cash back.

Your cash back can be applied to your credit card balance OR you can put it into a free Tangerine Savings account which unlocks a third 2% cash back category—talk about win-win.

Another little bonus, during your first 30 days, you can transfer existing credit card balances for a low 1.95% interest for 6 months which makes switching credit cards even easier.

I'm also a big fan of the Tangerine app. I have my emergency fund there as well as many sinking funds for different purposes (renovations, car maintenance, and more). The interface is user friendly and it's all free.

Finally, this credit card gives you purchase assurance to cover loss, theft or damage on most new insured items for 90 days after purchase and extended warranty which doubles the manufacturer's warranty.

More of the best credit cards with no annual fee

MBNA Rewards Platinum Plus Mastercard