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

By Lauren Graves & Tyler Wade

Fact Checked: Scott Birke

🗓️

Updated: July 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.

Best credit card in Canada overall

American Express Cobalt® Card

5.0

5.0

15,000 pts

Welcome offer

Fair

Suggested credit score

Apply Now

Earn up to 15,000 Membership Rewards points

Earn up to 15,000 Membership Rewards points

Apply now

• Overview
• Rewards
• Rates & Fees

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

Eligibility

Fair

Recommended Credit Score

$0

Required Annual Personal Income

$0

Required Annual Household Income

Recommended Credit Score

Fair

Required Annual Personal Income

$0

Required Annual Household Income

$0

5x

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

3x

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

2x

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

1x

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

$100 USD

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.

Earn 5 times the 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

21.99%

Purchase APR on purchases

21.99% - 2.75%

Cash Advance APR each

$155.88

Annual Fee 12.99/mo

2.50%

Foreign Transaction Fee

Purchase APR

21.99%

Cash Advance APR

21.99% - 2.75%

Annual Fee

$155.88

Foreign Transaction Fee

2.50%

Overview

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

Eligibility

Fair

Recommended Credit Score

$0

Required Annual Personal Income

$0

Required Annual Household Income

Recommended Credit Score

Fair

Required Annual Personal Income

$0

Required Annual Household Income

$0

Rewards

5x

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

3x

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

2x

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

1x

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

$100 USD

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.

Earn 5 times the 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

Rates & Fees

21.99%

Purchase APR on purchases

21.99% - 2.75%

Cash Advance APR each

$155.88

Annual Fee 12.99/mo

2.50%

Foreign Transaction Fee

Purchase APR

21.99%

Cash Advance APR

21.99% - 2.75%

Annual Fee

$155.88

Foreign Transaction Fee

2.50%

Why we picked it 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. It also offers the following:

High earn rate

• Earn 5x points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery (groceries, cafes, restaurants, bars).
• Earn 3x points on eligible streaming subscriptions in Canada (e.g., Apple TV+, Crave, Disney+, Netflix, Spotify).
• Earn 2x points on eligible ride shares, transit, and gas in Canada.
• 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.
  
  

Manageable annual fee

• Annual fee of $155.88, broken down into monthly payments of $12.99 for better accessibility.

Comprehensive insurance

• Includes emergency medical, travel accident, flight delay, lost luggage, hotel burglary, rental car insurance, and more.
• Mobile device insurance up to $1,000 for theft, loss, or accidental damage, provided the phone was purchased with the card within 2 years from the date of the incident.

Travel perks

• Although it has a high earn rate for travel points, it lacks key travel perks like airport lounge access, no foreign exchange fees, and priority treatment at airports.

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

^†Terms and conditions apply.

More of the other best credit cards in Canada

Scotiabank Momentum® Visa Infinite

5.0

Read Review

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. ... See Offer

$120 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

TD® Aeroplan® Visa Infinite* Card

4.0

Read Review

Apply now

Earn up to $1,000 in value† including up to 40,000 Aeroplan points†. Conditions Apply. Account must be approved by September 3, 2024. ... See Offer

$139 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

CIBC Aventura® Gold Visa* Card

4.0

Read Review

Apply now

Join and get up to $1,400 in value including a first year annual fee rebate!† ... See Offer

$139 Annual Fee

Good Recommended Credit Score

†Terms and conditions apply

The information for the CIBC Aventura® Gold Visa* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer. This offer is not available for residents of Quebec. †Terms and conditions apply

Best credit card for travel

CIBC Aeroplan® Visa Infinite* Card

3.7

3.7

up to 50K pts

Welcome offer

Very Good

Suggested credit score

Apply Now

Up to 50,000 Aeroplan points ($1,000 in travel value), free first checked bag, and an annual fee rebate

Up to 50,000 Aeroplan points ($1,000 in travel value), free first checked bag, and an annual fee rebate

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• Earn up to 50,000 bonus Aeroplan points in the first year

• Earn up to 1.5 Aeroplan points on purchases

• Free checked bags on Air Canada flights

• Special pricing on Aeroplan flight rewards

• Includes travel insurance

Cons

• High income requirement of either $60,000 personal or $100,000 household

• Rewards go furthest when redeeming for Air Canada flights, so that can limit your travel options

Eligibility

Very Good

Recommended Credit Score

$60,000

Required Annual Personal Income

$100,000

Required Annual Household Income

Recommended Credit Score

Very Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

1.5 pts

for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®

1 pt

for every $1 you spend on all other purchases.

2x

Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.

for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®

1.5 pts

for every $1 you spend on all other purchases.

1 pt

Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.

2x

20.99%

Purchase APR non-Quebec residents†

22.99%

Balance Transfer Rate 21.99% for Quebec residents

22.99%

Cash Advance APR 21.99% for Quebec residents

$139

Annual Fee Free with CIBC Smart Plus™ Account. $50 for each additional card (up to 3).

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$139

Overview

Pros

• Earn up to 50,000 bonus Aeroplan points in the first year

• Earn up to 1.5 Aeroplan points on purchases

• Free checked bags on Air Canada flights

• Special pricing on Aeroplan flight rewards

• Includes travel insurance

Cons

• High income requirement of either $60,000 personal or $100,000 household

• Rewards go furthest when redeeming for Air Canada flights, so that can limit your travel options

Eligibility

Very Good

Recommended Credit Score

$60,000

Required Annual Personal Income

$100,000

Required Annual Household Income

Recommended Credit Score

Very Good

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Rewards

1.5 pts

for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®

1 pt

for every $1 you spend on all other purchases.

2x

Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.

for every $1 you spend on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®

1.5 pts

for every $1 you spend on all other purchases.

1 pt

Earn points twice at over 150 Aeroplan partners and more than 170 online retailers through the Aeroplan eStore.

2x

Rates & Fees

20.99%

Purchase APR non-Quebec residents†

22.99%

Balance Transfer Rate 21.99% for Quebec residents

22.99%

Cash Advance APR 21.99% for Quebec residents

$139

Annual Fee Free with CIBC Smart Plus™ Account. $50 for each additional card (up to 3).

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$139

Why we picked it as the best travel credit card in Canada

Among all the best travel credit cards in Canada, we like the CIBC Aeroplan® Visa Infinite* Card for its exceptional welcome bonus, massive array of Air Canada travel perks and airport lounge access passes. Here's why it's our best credit card for travel.

Solid earn rates on everyday expenses:

• Gas and groceries

Versatile airline frequent flyer program:

• Use points on any airline within the Star Alliance
• Over 1,200 global destinations

Hotel benefits:

• Fourth night free for every 3 hotel nights redeemed with Aeroplan points

Outstanding travel insurance:

• Emergency Medical travel insurance
• Travel Accident insurance
• Trip cancellation
• Flight delay
• Lost baggage
• Hotel burglary
• Rental car insurance
• New mobile device insurance
• Purchase security
• Extended warranty

Maple Leaf Lounge access:

• Complimentary access in Canada
• Pleases you and your fellow travellers (partner, friend, or family)

The information for the CIBC Aeroplan^® Visa Infinite^* has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

†Terms and Conditions Apply

More of the best credit cards for travel

Scotiabank Gold American Express®

4.5

Read Review

Apply now

Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹ ... See Offer

$120 Annual Fee

Very Good Recommended Credit Score

Scotiabank Passport® Visa Infinite* Card 

3.6

Read Review

Apply now

Earn up to $1,100* in value in the first 12 months, including up to 35,000 bonus Scene+ points ... See Offer

$150 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

The Platinum Card

4.5

Read Review

Apply now

Earn 70,000 Membership Rewards® points1* ... See Offer

$799 Annual Fee

Excellent Recommended Credit Score

Read more: Best travel credit cards

Best credit card for cash back

BMO CashBack® World Elite® Mastercard

4.0

4.0

up to 10%

Welcome offer

Excellent

Suggested credit score

Apply Now

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

Expires

Nov 30, 2024

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

Expires

Nov 30, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• Valuable sign-up bonus

• High 5% cash back rate on groceries

• Free roadside assistance

• Excellent extended warranty and purchase protection terms

Cons

• Restrictive spending limits for most cash back categories

• Sign-up bonus structure is head-scratchingly complicated

• High minimum income requirements

Eligibility

Excellent

Recommended Credit Score

$80,000

Required Annual Personal Income

$150,000

Required Annual Household Income

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

5%

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

4%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

3%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

2%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

1%

Everything Else: 1% cash back, unlimited*

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

5%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

4%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

3%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

2%

Everything Else: 1% cash back, unlimited*

1%

20.99%

Purchase APR

23.99%

Balance Transfer Rate

23.99%

Cash Advance APR 21.99% for Quebec residents

$120

Annual Fee

2.90%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

Foreign Transaction Fee

2.90%

Overview

Pros

• Valuable sign-up bonus

• High 5% cash back rate on groceries

• Free roadside assistance

• Excellent extended warranty and purchase protection terms

Cons

• Restrictive spending limits for most cash back categories

• Sign-up bonus structure is head-scratchingly complicated

• High minimum income requirements

Eligibility

Excellent

Recommended Credit Score

$80,000

Required Annual Personal Income

$150,000

Required Annual Household Income

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Rewards

5%

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

4%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

3%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

2%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

1%

Everything Else: 1% cash back, unlimited*

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

5%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

4%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

3%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

2%

Everything Else: 1% cash back, unlimited*

1%

Rates & Fees

20.99%

Purchase APR

23.99%

Balance Transfer Rate

23.99%

Cash Advance APR 21.99% for Quebec residents

$120

Annual Fee

2.90%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

Foreign Transaction Fee

2.90%

Why we picked it as the best credit card in Canada for cash back

If we could build the ideal premium cash back rewards card, it would pretty much look like this. As far as rewards credit cards go, the BMO CashBack® World Elite® Mastercard makes earning and redeeming cash back almost effortless. Here's why it's our best cash back credit card.

High cash back rates:

• Earn between 1%† and 5%† cash back
• Welcome Offer: Up to 10% cash back in the first 3 months
• 5% cash back on groceries (up to $500 spent per month; $25 in cash back)*
• 4% cash back on eligible transit (up to $300 spent per month; $12 in cash back)*
• 3% cash back on gas and EV charging (up to $300 spent per month; $9 in cash back)*
• 2% cash back on recurring bills (up to $500 spent per month; $10 in cash back)*
• Unlimited 1% cash back on all other eligible purchases

Travel benefits:

• Roadside insurance
• Discounted car rentals†
• Global perks: Free Boingo Wi-Fi
• Discounted global lounge access via Mastercard Airport Experiences provided by LoungeKey* ($32 USD per entrance)

Reasonable annual fee for value offered:

• $120 annual fee, which is waived on the first anniversary*

• High earning rates and generous insurance coverage
• Up to $1,000 in first-year value

Compare the other best credit cards for cash back

BMO CashBack® World Elite® Mastercard

4.0

Read Review

Apply now

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

$120 Annual Fee

Excellent Recommended Credit Score

$80,000 Required Annual Personal Income

SimplyCash® Card from American Express

3.5

Read Review

Apply now

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

$0 Annual Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

TD Cash Back Visa Infinite* Card

4.0

Read Review

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 January 6, 2025. ... See Offer

$139 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

Read more: Best cash back credit cards

Best credit card for students

BMO CashBack® MasterCard®

4.0

4.0

5% cash back

Welcome offer

Good

Suggested credit score

Apply Now

Get 5% cash back in your first 3 months*

Expires

Nov 30, 2024

Get 5% cash back in your first 3 months*

Expires

Nov 30, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

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

Eligibility

Good

Recommended Credit Score

$15,000

Required Annual Personal Income

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

3%

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

1%

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

0.5%

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

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%

20.99%

Purchase APR

22.99%

Cash Advance APR 21.99% for Quebec residents

$0

Annual Fee

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

Overview

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

Eligibility

Good

Recommended Credit Score

$15,000

Required Annual Personal Income

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

Rewards

3%

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

1%

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

0.5%

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

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%

Rates & Fees

20.99%

Purchase APR

22.99%

Cash Advance APR 21.99% for Quebec residents

$0

Annual Fee

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

Why we picked it as the best student credit card in Canada

Consistently one of the best credit cards for students in Canada, the BMO Cash Back Mastercard understands what students need. Here's why it's our best student card.

Great welcome offer and no annual fee:

• Up to $125 in cash back in the first three months with a 5% cash back welcome offer

High rewards earn rate:

• 3% cash back on all grocery stores and supermarkets
• 1% cash back on recurring bills (e.g., Spotify, Netflix, cell phone, internet)
• 0.5% cash back on everything else

Flexible cash back redemption:

• Redeem cash back anytime
• Apply cash back towards your credit card, a BMO chequing or savings account, or a BMO investor line account

Differences from Non-Student Version:

• Non-student BMO CashBack Mastercard offers a 0.99% balance transfer for 9 months to help pay off credit card debt faster

Additional benefits:

• Extended warranty insurance and purchase protection for items like laptops and cell phones
• BMO PaySmart™ installment plans: turn 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

5.0

Read Review

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. ... See Offer

$0 Annual Fee

Good Recommended Credit Score

$12,000 Required Annual Personal Income

Neo Secured Credit Card

4.0

Read Review

Apply now

$25 customer sign up bonus welcome offer ... See Offer

$0 Annual Fee

Poor Recommended Credit Score

$0 Required Annual Personal Income

American Express Cobalt® Card

5.0

Read Review

Apply now

Earn up to 15,000 Membership Rewards points ... See Offer

$155.88 Annual Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best Student credit cards

Best credit card for balance transfers

MBNA True Line Mastercard

4.0

4.0

0% intro rate

Welcome offer

Good

Suggested credit score

Apply Now

Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.

Get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.

Apply now

• Overview
• Rewards
• Rates & Fees

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

Eligibility

Good

Recommended Credit Score

Recommended Credit Score

Good

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.

100%

This card is made from 100% recycled plastic

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%

This card is made from 100% recycled plastic

100%

12.99%

Purchase APR

17.99%

Balance Transfer Rate

24.99%

Cash Advance APR

$0

Annual Fee

2.50%

Foreign Transaction Fee

Purchase APR

12.99%

Balance Transfer Rate

17.99%

Cash Advance APR

24.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Overview

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

Eligibility

Good

Recommended Credit Score

Recommended Credit Score

Good

Rewards

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.

100%

This card is made from 100% recycled plastic

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%

This card is made from 100% recycled plastic

100%

Rates & Fees

12.99%

Purchase APR

17.99%

Balance Transfer Rate

24.99%

Cash Advance APR

$0

Annual Fee

2.50%

Foreign Transaction Fee

Purchase APR

12.99%

Balance Transfer Rate

17.99%

Cash Advance APR

24.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Why we picked it 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% (and sadly a 17.99% on 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.

†, ✪, 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.

Post-payoff benefits:

More of the best credit cards for balance transfers

Scotiabank Value Visa

4.0

Read Review

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 ... See Offer

$29 Annual Fee

Fair Recommended Credit Score

$12,000 Required Annual Personal Income

BMO AIR MILES®† MasterCard®*

4.2

Read Review

Apply now

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

$0 Annual Fee

Good Recommended Credit Score

$15,000 Required Annual Personal Income

BMO Preferred Rate Mastercard®*

3.6

Read Review

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*. ... See Offer

$29 Annual Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best balance transfer credit cards

Best credit card for rewards

TD® Aeroplan® Visa Infinite Privilege* Card

4.0

4.0

up to 75K pts

Welcome offer

Excellent

Suggested credit score

Apply Now

Earn up to $2,700 in value† including up to 75,000 Aeroplan points†. Conditions Apply. Account must be approved by September 3, 2024.

Expires

Sep 3, 2024

Earn up to $2,700 in value† including up to 75,000 Aeroplan points†. Conditions Apply. Account must be approved by September 3, 2024.

Expires

Sep 3, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• Welcome bonus up to 75,000 Aeroplan® points (up to $2,700 in value)† (enough for a round trip to Honolulu†)

• Complimentary Maple Leaf Lounge access and six worldwide lounge visits annually

• Priority Boarding and Baggage Handling

• High Aeroplan® earn rates, double points on eligible Air Canada purchases

• Extensive travel insurance benefits

• Free checked bags on Air Canada

• Preferred Pricing on Aeroplan® flight rewards

• Visa Infinite Privilege* designation perks (e.g. DragonPass membership)

• $100 CAD NEXUS credit

Cons

• Steep annual fee of $599

• High eligibility requirements ($150,000 personal or $200,000 household income)

• Additional cardholder fee of $199

• High-value rewards mainly for Air Canada flights

Eligibility

Excellent

Recommended Credit Score

$150,000

Required Annual Personal Income

$200,000

Required Annual Household Income

Recommended Credit Score

Excellent

Required Annual Personal Income

$150,000

Required Annual Household Income

$200,000

2 points

Earn 2 points for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.

1.5 points

Earn 1.5 points for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.

1.25 points

Earn 1.25 points for every $1 you charge to your Card on all other purchases.

6

Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†

2x

Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore†

50%

Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account.†

$100

Get a NEXUS application fee rebate of $100 every 48 months.†

1st

Get your 1st checked bag free for you and up to eight companions when your travel originates on an Air Canada flight.†

10%

Get 10% savings at Avis and Budget in North America, 5% off internationally†

Earn 2 points for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.

2 points

Earn 1.5 points for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.

1.5 points

Earn 1.25 points for every $1 you charge to your Card on all other purchases.

1.25 points

Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†

6

Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore†

2x

Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account.†

50%

Get a NEXUS application fee rebate of $100 every 48 months.†

$100

Get your 1st checked bag free for you and up to eight companions when your travel originates on an Air Canada flight.†

1st

Get 10% savings at Avis and Budget in North America, 5% off internationally†

10%

20.99%

Purchase APR APR for purchases 20.99%†

22.99%

Cash Advance APR APR for cash advances 22.99%†

$599

Annual Fee

2.50%

Foreign Transaction Fee

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$599

Foreign Transaction Fee

2.50%

Overview

Pros

• Welcome bonus up to 75,000 Aeroplan® points (up to $2,700 in value)† (enough for a round trip to Honolulu†)

• Complimentary Maple Leaf Lounge access and six worldwide lounge visits annually

• Priority Boarding and Baggage Handling

• High Aeroplan® earn rates, double points on eligible Air Canada purchases

• Extensive travel insurance benefits

• Free checked bags on Air Canada

• Preferred Pricing on Aeroplan® flight rewards

• Visa Infinite Privilege* designation perks (e.g. DragonPass membership)

• $100 CAD NEXUS credit

Cons

• Steep annual fee of $599

• High eligibility requirements ($150,000 personal or $200,000 household income)

• Additional cardholder fee of $199

• High-value rewards mainly for Air Canada flights

Eligibility

Excellent

Recommended Credit Score

$150,000

Required Annual Personal Income

$200,000

Required Annual Household Income

Recommended Credit Score

Excellent

Required Annual Personal Income

$150,000

Required Annual Household Income

$200,000

Rewards

2 points

Earn 2 points for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.

1.5 points

Earn 1.5 points for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.

1.25 points

Earn 1.25 points for every $1 you charge to your Card on all other purchases.

6

Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†

2x

Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore†

50%

Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account.†

$100

Get a NEXUS application fee rebate of $100 every 48 months.†

1st

Get your 1st checked bag free for you and up to eight companions when your travel originates on an Air Canada flight.†

10%

Get 10% savings at Avis and Budget in North America, 5% off internationally†

Earn 2 points for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.

2 points

Earn 1.5 points for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.

1.5 points

Earn 1.25 points for every $1 you charge to your Card on all other purchases.

1.25 points

Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†

6

Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore†

2x

Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account.†

50%

Get a NEXUS application fee rebate of $100 every 48 months.†

$100

Get your 1st checked bag free for you and up to eight companions when your travel originates on an Air Canada flight.†

1st

Get 10% savings at Avis and Budget in North America, 5% off internationally†

10%

Rates & Fees

20.99%

Purchase APR APR for purchases 20.99%†

22.99%

Cash Advance APR APR for cash advances 22.99%†

$599

Annual Fee

2.50%

Foreign Transaction Fee

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$599

Foreign Transaction Fee

2.50%

Why we picked it as the best credit card for rewards

There are many rewards cards, but the TD® Aeroplan® Visa Infinite Privilege* takes the gold for its perfect balance of a sizeable welcome bonus and lucrative Aeroplan-centric perks.  Here are more reasons why it's our best rewards card.

High first-year value:

• Provides $3,100 in first-year value
• Annual fee of $599

High rewards earn:

• Earn 2 points per $1 spent on eligible gas, groceries, and direct Air Canada® purchases (including Air Canada Vacations®)†
• Earn 1.5 points per $1 spent on eligible gas, groceries, travel, and dining purchases
• Earn 1.25 points per $1 spent on all other purchases

Great travel perks:

• NEXUS application fee rebate
• Airport lounge access to Maple Leaf Lounges
• First-checked bags
• Priority boarding with Air Canada
• Priority baggage handling with Air Canada
• Extensive insurance protections

Comprehensive insurance coverage:

• Emergency medical insurance
• Travel accident insurance
• Flight delay insurance
• Baggage insurance
• Rental car insurance
• Hotel burglary insurance
• Mobile device insurance

The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.

More of the best credit cards for rewards

Scotiabank Gold American Express®

4.5

Read Review

Apply now

Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹ ... See Offer

$120 Annual Fee

Very Good Recommended Credit Score

MBNA Rewards World Elite Mastercard

4.0

Read Review

Apply now

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

$120 Annual Fee

Good Recommended Credit Score

$80,000 Required Annual Personal Income

American Express Cobalt® Card

5.0

Read Review

Apply now

Earn up to 15,000 Membership Rewards points ... See Offer

$155.88 Annual Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best rewards credit cards

Best credit card for airport lounge access

The Platinum Card

4.5

4.5

70,000 pts

Welcome offer

Excellent

Suggested credit score

Apply Now

Earn 70,000 Membership Rewards® points1*

Earn 70,000 Membership Rewards® points1*

Apply now

• Overview
• Rewards
• Rates & Fees

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

Eligibility

Excellent

Recommended Credit Score

Recommended Credit Score

Excellent

2x

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

1x

point for every $1 in all other Card purchases

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

21.99%

Purchase APR The Preferred rate of 21.99% applies to your Flexible Payment Option balance.

$799

Annual Fee Includes $200 annual travel credit and $200 annual dining credit

2.50%

Foreign Transaction Fee

Purchase APR

21.99%

Annual Fee

$799

Foreign Transaction Fee

2.50%

Overview

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

Eligibility

Excellent

Recommended Credit Score

Recommended Credit Score

Excellent

Rewards

2x

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

1x

point for every $1 in all other Card purchases

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

Rates & Fees

21.99%

Purchase APR The Preferred rate of 21.99% applies to your Flexible Payment Option balance.

$799

Annual Fee Includes $200 annual travel credit and $200 annual dining credit

2.50%

Foreign Transaction Fee

Purchase APR

21.99%

Annual Fee

$799

Foreign Transaction Fee

2.50%

Why we picked it 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.

Welcome Bonus more than covers annual fee:

• Earn up to 100,000 Membership Rewards points (value of $1,000), which is greater than the annual fee of $799

• $200 annual travel credit
• $200 annual dining credit

Unlimited premium lounge access:

• Gets you into the American Express Global Lounge Collection
• Unlimited access to over 1,300 airport lounges across 140 countries

American Express Travel benefits

• Benefits include daily breakfast for two, late check-out, noon check-in, in-room Wi-Fi, and room upgrades when available

• Average value of $550 US at over 1,300 properties
• Fast-track to Hilton Honors gold status and Marriott Bonvoy Gold Elite Status
  

Toronto Pearson Airport benefits:

• Faster security lane access

• Complimentary valet service

• 15% discount on parking

Travel insurance coverage:

• 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 insurance
• Lost/stolen baggage insurance
• Hotel burglary insurance
• Rental car insurance

Additional perks:

• Dedicated website for cardmembers to learn about coverage and discover special offers

Premium Card Requirements:

• Good to excellent credit score required
• No minimum income requirement
• No pre-set spending limit (charge card)

^‡, ^††, ^✪, ***, Terms and Conditions apply

More of the best credit cards for airport lounge access

Scotiabank Passport® Visa Infinite* Card 

3.6

Read Review

Apply now

Earn up to $1,100* in value in the first 12 months, including up to 35,000 bonus Scene+ points ... See Offer

$150 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

TD® Aeroplan® Visa Infinite Privilege* Card

4.0

Read Review

Apply now

Earn up to $2,700 in value† including up to 75,000 Aeroplan points†. Conditions Apply. Account must be approved by September 3, 2024. ... See Offer

$599 Annual Fee

Excellent Recommended Credit Score

$150,000 Required Annual Personal Income

Scotiabank Platinum American Express® Card

4.0

Read Review

Apply now

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

$399 Annual Fee

Good Recommended Credit Score

$12,000 Required Annual Personal Income

Read more: Best airport lounge credit cards

Best credit card with no annual fee

BMO CashBack® MasterCard®

4.0

4.0

5% cash back

Welcome offer

Good

Suggested credit score

Apply Now

Get 5% cash back in your first 3 months*

Expires

Nov 30, 2024

Get 5% cash back in your first 3 months*

Expires

Nov 30, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

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

Eligibility

Good

Recommended Credit Score

$15,000

Required Annual Personal Income

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

3%

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

1%

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

0.5%

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

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%

20.99%

Purchase APR

22.99%

Cash Advance APR 21.99% for Quebec residents

$0

Annual Fee

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

Overview

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

Eligibility

Good

Recommended Credit Score

$15,000

Required Annual Personal Income

Recommended Credit Score

Good

Required Annual Personal Income

$15,000

Rewards

3%

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

1%

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

0.5%

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

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%

Rates & Fees

20.99%

Purchase APR

22.99%

Cash Advance APR 21.99% for Quebec residents

$0

Annual Fee

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

Why we picked it 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 an impressive up to 3% cash back on groceries with that rate climbing to up to 5% back for the first 3 months. Here are a few more reasons.

Limited-time offer:

• 5% cash back in the first 3 months
• $50 cash back bonus when you spend $6,000 in the first year

High cash back rates:

• Up to 3% cash back on groceries (up to $500 monthly)
• 1% cash back on recurring bill payments (up to $500 per month)
• Unlimited 0.5% cash back on all other purchases

Cash back redemption:

• Apply cash back to credit card balance or an eligible BMO account (chequing, savings, BMO InvestorLine)
• Statement credit redeemable from as little as $1
• Deposits into other BMO accounts require at least $25 to redeem

Purchase Assurance and extended warranty:

• Covers loss, theft, or damage on most new insured items for 90 days after purchase

• Doubles the manufacturer's warranty

More of the best credit cards with no annual fee

MBNA Rewards Platinum Plus Mastercard

4.0

Read Review

Apply now

Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points. ... See Offer

$0 Annual Fee

Good Recommended Credit Score

American Express® Green Card

4.5

Read Review

Apply now

Earn 10,000 Membership Rewards® points1* ... See Offer

$0 Annual Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

RBC Cash Back Mastercard

4.1

Read Review

Apply now

Enjoy 0.99% introductory interest rate on cash advances and balance transfers for the first 10 months ... See Offer

$0 Annual Fee

Good Recommended Credit Score

Read more: Best no annual fee credit cards

Best credit card for bad credit

Neo Secured Credit Card

4.0

4.0

$25 on signup

Welcome offer

Poor

Suggested credit score

Apply Now

$25 customer sign up bonus welcome offer

$25 customer sign up bonus welcome offer

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• No annual fee

• Low minimum security deposit

• Cash back rewards on purchases

• Instant approval regardless of credit score

Cons

• Only reports to TransUnion

• High APR range

Eligibility

Poor

Recommended Credit Score

$0

Required Annual Personal Income

$0

Required Annual Household Income

Recommended Credit Score

Poor

Required Annual Personal Income

$0

Required Annual Household Income

$0

15%

Up to 15% on first new purchases with Neo partners

5%

With Neo Partners

1%-3%

on gas and groceries

3%-4%

Streaming, ridesharing, and food delivery services

2%-3%

With retail partners

0.5%

On everything else

Up to 15% on first new purchases with Neo partners

15%

With Neo Partners

5%

on gas and groceries

1%-3%

Streaming, ridesharing, and food delivery services

3%-4%

With retail partners

2%-3%

On everything else

0.5%

19.99% - 29.99%

Variable APR

22.99% - 31.99%

Cash Advance APR Plus a $2.50 fee in Canada, $5 fee anywhere else

$0

Annual Fee Option to pay $4.99/month for premium membership to unlock higher cash back rewards

Variable APR

19.99% - 29.99%

Cash Advance APR

22.99% - 31.99%

Annual Fee

$0

Overview

Pros

• No annual fee

• Low minimum security deposit

• Cash back rewards on purchases

• Instant approval regardless of credit score

Cons

• Only reports to TransUnion

• High APR range

Eligibility

Poor

Recommended Credit Score

$0

Required Annual Personal Income

$0

Required Annual Household Income

Recommended Credit Score

Poor

Required Annual Personal Income

$0

Required Annual Household Income

$0

Rewards

15%

Up to 15% on first new purchases with Neo partners

5%

With Neo Partners

1%-3%

on gas and groceries

3%-4%

Streaming, ridesharing, and food delivery services

2%-3%

With retail partners

0.5%

On everything else

Up to 15% on first new purchases with Neo partners

15%

With Neo Partners

5%

on gas and groceries

1%-3%

Streaming, ridesharing, and food delivery services

3%-4%

With retail partners

2%-3%

On everything else

0.5%

Rates & Fees

19.99% - 29.99%

Variable APR

22.99% - 31.99%

Cash Advance APR Plus a $2.50 fee in Canada, $5 fee anywhere else

$0

Annual Fee Option to pay $4.99/month for premium membership to unlock higher cash back rewards

Variable APR

19.99% - 29.99%

Cash Advance APR

22.99% - 31.99%

Annual Fee

$0

Why we picked it as the best secured credit card

The Neo Secured card offers guaranteed approval and no hard credit check, plus you can get started with as little as $50. And, you get all this with no annual fee and a sweet app with smart financial tools that help you build back your credit, fast. Here are a few other reasons it's our best secured card.

Everyday cash back

• The "everyday" cash back is 1% in gas and groceries, even they aren't partnered

Up to 5% cash back with these Neo partners

• Fast food: Subway, Boston Pizza, Papa John's Five Guys, Booster Juice, Hero Certified Burgers and more
  
• Restaurants: Joey's, Earl's The Keg, Cora's, Shoeless Joe's and more
  
• Grocery stores: Loblaws (No Frills, too), Walmet, Real Canadian Superstore
  
• Clothing: Gap, Old Navy, Lululemon, Roots, Hudson Bay, and more.
  
• Streaming with Netflix, Spotify, Amazon Prime. 
  
• Get gas from Shell, Esso, and Petro Canada.
  

More of the best credit cards for bad credit (secured cards)

Capital One Guaranteed Secured Mastercard

4.5

Read Review

Apply now

... See Offer

$59 Annual Fee

Poor Recommended Credit Score

$0 Required Annual Personal Income

Home Trust Secured Visa

4.5

Read Review

Apply now

No annual fee ... See Offer

$0 Annual Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

KOHO Extra

4.0

Read Review

Apply now

... See Offer

$84 Annual Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

Read more: Best secured credit cards

Best credit card in Canada for no foreign transaction fees

Scotiabank Gold American Express®

4.5

4.5

up to 45K pts

Welcome offer

Very Good

Suggested credit score

Apply Now

Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹

Expires

Nov 1, 2024

Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹

Expires

Nov 1, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• Lots of daily spend options to earn multiplied point bonuses

• Swanky Amex perks like Front of the Line presale concert tickets

• Save on foreign transaction fees when abroad

• Fantastic insurance coverage, especially for travel

Cons

• Relatively low-value welcome bonus

• $120 annual fee that chews into your point value substantially

• Scene points redeem poorly for travel

Eligibility

Very Good

Recommended Credit Score

Recommended Credit Score

Very Good

6x

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

5x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

1x

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

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

6x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

5x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

3x

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

1x

20.99%

Purchase APR

22.99%

Balance Transfer Rate

22.99%

Cash Advance APR

$120

Annual Fee $29 for each supplementary card

0.00%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$120

Foreign Transaction Fee

0.00%

Overview

Pros

• Lots of daily spend options to earn multiplied point bonuses

• Swanky Amex perks like Front of the Line presale concert tickets

• Save on foreign transaction fees when abroad

• Fantastic insurance coverage, especially for travel

Cons

• Relatively low-value welcome bonus

• $120 annual fee that chews into your point value substantially

• Scene points redeem poorly for travel

Eligibility

Very Good

Recommended Credit Score

Recommended Credit Score

Very Good

Rewards

6x

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

5x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

1x

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

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

6x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

5x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

3x

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

1x

Rates & Fees

20.99%

Purchase APR

22.99%

Balance Transfer Rate

22.99%

Cash Advance APR

$120

Annual Fee $29 for each supplementary card

0.00%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$120

Foreign Transaction Fee

0.00%

Why we picked it as the best card for no FX fees

Of all the Canadian credit cards with no foreign transaction fees, the Scotiabank Gold American Express® Card is a good option for those looking to spend abroad without incurring extra fees from foreign transaction charges. Here are the other reasons it made our list.

Welcome bonus:

• Earn a welcome bonus by meeting specific spending thresholds
• Easy to achieve due to rewards structure geared towards everyday spending

Generous rewards structure:

• 6 points per dollar at Sobeys, Safeway, Freshco, Foodland, and more
• 5 points per dollar at restaurants, for food delivery, and for entertainment (movies, theatre tickets)
• 3 points per dollar on commute expenses (gas, transit, rideshares) and select streaming services (e.g., Netflix)
• 1 Scene+ point for every $1 spent on all other eligible everyday purchases

Other features:

• Includes travel insurance coverage
• Lower than expected annual considering the benefits

More of the best credit cards with no foreign transaction fees

Scotiabank Passport® Visa Infinite* Card 

3.6

Read Review

Apply now

Earn up to $1,100* in value in the first 12 months, including up to 35,000 bonus Scene+ points ... See Offer

$150 Annual Fee

Excellent Recommended Credit Score

$60,000 Required Annual Personal Income

Rogers Red World Elite® Mastercard®

4.1

Read Review

Apply now

... See Offer

$0 Annual Fee

Excellent Recommended Credit Score

$80,000 Required Annual Personal Income

Home Trust Preferred Visa

4.5

Read Review

Apply now

No annual fee and no foreign exchange fees ... See Offer

$0 Annual Fee

Good Recommended Credit Score

$15,000 Required Annual Personal Income

Read more: Best no foreign transaction fee credit cards

Best credit card for travel insurance

Scotiabank Gold American Express®

4.5

4.5

up to 45K pts

Welcome offer

Very Good

Suggested credit score

Apply Now

Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹

Expires

Nov 1, 2024

Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points¹

Expires

Nov 1, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• Lots of daily spend options to earn multiplied point bonuses

• Swanky Amex perks like Front of the Line presale concert tickets

• Save on foreign transaction fees when abroad

• Fantastic insurance coverage, especially for travel

Cons

• Relatively low-value welcome bonus

• $120 annual fee that chews into your point value substantially

• Scene points redeem poorly for travel

Eligibility

Very Good

Recommended Credit Score

Recommended Credit Score

Very Good

6x

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

5x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

1x

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

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

6x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

5x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

3x

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

1x

20.99%

Purchase APR

22.99%

Balance Transfer Rate

22.99%

Cash Advance APR

$120

Annual Fee $29 for each supplementary card

0.00%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$120

Foreign Transaction Fee

0.00%

Overview

Pros

• Lots of daily spend options to earn multiplied point bonuses

• Swanky Amex perks like Front of the Line presale concert tickets

• Save on foreign transaction fees when abroad

• Fantastic insurance coverage, especially for travel

Cons

• Relatively low-value welcome bonus

• $120 annual fee that chews into your point value substantially

• Scene points redeem poorly for travel

Eligibility

Very Good

Recommended Credit Score

Recommended Credit Score

Very Good

Rewards

6x

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

5x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

1x

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

Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more

6x

Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.

5x

Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.

5x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more

3x

Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services

3x

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

1x

Rates & Fees

20.99%

Purchase APR

22.99%

Balance Transfer Rate

22.99%

Cash Advance APR

$120

Annual Fee $29 for each supplementary card

0.00%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$120

Foreign Transaction Fee

0.00%

Why the Scotia gold wins for travel insurance

On top of its excellent welcome bonus, high earn rates in everyday categories, and no foreign transaction fees, the Scotia Gold Amex takes the crown for the best credit card for travel insurance. Why? Here's why.

Comprehensive insurance coverage:

• Trip cancellation/trip interruption insurance (often omitted by other travel credit cards)
• Travel emergency medical insurance
• Travel accident insurance
• Delayed and lost baggage insurance
• Flight delay insurance

Other insurance coverage:

• Purchase insurance
• Mobile device insurance
• Rental car insurance

All you have to do is charge at least 75% of your trip expenses to your card to activate these features.

See more of the best credit cards with travel insurance

Scotiabank Platinum American Express® Card

4.0

Read Review

Apply now

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

$399 Annual Fee

Good Recommended Credit Score

$12,000 Required Annual Personal Income

RBC Avion Visa Infinite

3.2

Read Review

Apply now

Get 35,000 welcome Avion points on approval ... See Offer

$120 Annual Fee

Very Good Recommended Credit Score

$60,000 Required Annual Personal Income

BMO Ascend™ World Elite®* Mastercard®

4.0

Read Review

Apply now

Get up to 90,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.* ... See Offer

$150 Annual Fee

Excellent Recommended Credit Score

$80,000 Required Annual Personal Income

Read more: Best travel insurance credit cards

Best credit card for groceries

BMO CashBack® World Elite® Mastercard

4.0

4.0

up to 10%

Welcome offer

Excellent

Suggested credit score

Apply Now

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

Expires

Nov 30, 2024

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

Expires

Nov 30, 2024

Apply now

• Overview
• Rewards
• Rates & Fees

Pros

• Valuable sign-up bonus

• High 5% cash back rate on groceries

• Free roadside assistance

• Excellent extended warranty and purchase protection terms

Cons

• Restrictive spending limits for most cash back categories

• Sign-up bonus structure is head-scratchingly complicated

• High minimum income requirements

Eligibility

Excellent

Recommended Credit Score

$80,000

Required Annual Personal Income

$150,000

Required Annual Household Income

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

5%

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

4%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

3%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

2%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

1%

Everything Else: 1% cash back, unlimited*

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

5%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

4%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

3%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

2%

Everything Else: 1% cash back, unlimited*

1%

20.99%

Purchase APR

23.99%

Balance Transfer Rate

23.99%

Cash Advance APR 21.99% for Quebec residents

$120

Annual Fee

2.90%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

Foreign Transaction Fee

2.90%

Overview

Pros

• Valuable sign-up bonus

• High 5% cash back rate on groceries

• Free roadside assistance

• Excellent extended warranty and purchase protection terms

Cons

• Restrictive spending limits for most cash back categories

• Sign-up bonus structure is head-scratchingly complicated

• High minimum income requirements

Eligibility

Excellent

Recommended Credit Score

$80,000

Required Annual Personal Income

$150,000

Required Annual Household Income

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Rewards

5%

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

4%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

3%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

2%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

1%

Everything Else: 1% cash back, unlimited*

Groceries: 5% cash back up to $500 spent per month ($25 in cash back)*

5%

Transit: 4% cash back up to $300 spent per month ($12 in cash back)*

4%

Gas: 3% cash back up to $300 spent per month ($9 in cash back)*

3%

Recurring Bills: 2% cash back up to $500 spent per month ($10 in cash back)*

2%

Everything Else: 1% cash back, unlimited*

1%

Rates & Fees

20.99%

Purchase APR

23.99%

Balance Transfer Rate

23.99%

Cash Advance APR 21.99% for Quebec residents

$120

Annual Fee

2.90%

Foreign Transaction Fee

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

Foreign Transaction Fee

2.90%