Best credit cards for Canadians with good credit July 2024

The CIBC Dividend Platinum® Visa Card is a great option for those who want to bump up their everyday cash back rates, as its 3% cash back rate includes some of the most common spending categories: eligible gas, EV charging, and grocery purchases after the Welcome Offer ends.† New cardholders can also take advantage of the CIBC Dividend Platinum’s welcome offer: Get a first-year annual fee rebate for you and up to three Authorized Users† and earn a 10% cash back welcome bonus of up to $300!†

Though the card has a $99 annual fee, this is rebated for the first year†, and you can easily earn enough cash back in a given year to make up for the fee and then some. The interest rates are: 20.99%† Purchase Annual Interest Rate, 22.99%† (for non-Quebec residents only) Cash Advance Annual Interest Rate, and 22.99%† (for non-Quebec residents only) Balance Transfer Annual Interest Rate. We recommend the card to anyone who expects to spend at least $300 on gas, EV charging, and groceries each month, which will yield $108 in cash back over the course of a year. The card’s overall value is even more notable given its low minimum income requirement: applicants need to make only $15K or more annually.†

This offer is not available for residents of Quebec.

†Terms and Conditions Apply

The information for the CIBC Dividend Platinum has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

If you’re looking for a credit card with a generous sign-up bonus, then the TD® Aeroplan® Visa Infinite* Card is the first option you should consider. Earn up to $1,000 in value†, including up to 40,000 Aeroplan points† and additional travel benefits. Account must be approved by September 3, 2024.

You’ll earn 1.5 Aeroplan points† per $1 spent at participating gas, grocery, and direct through Air Canada® purchases (including Air Canada Vacations®) made with your card, and 1 Aeroplan point† for every $1 spent on all other purchases made with your card. Additional perks include travel insurance†, and discounts at participating Avis and Budget Rent-A-Car locations†.

This offer is not available for residents of Quebec. For Quebec residents, please click here.

^†Terms and conditions apply.

The fee to have the card is $155.88 ($12.99 monthly fee), which is more of a subscription model and appeals to those who don’t like paying their annual fee in one lump sum. What really makes the card shine though is that it earns 5 points per $1 spent on eligible eats and drinks, including groceries and food deliveries. The travel category earns 2 points per $1 spent, which is also notable since public transportation and rideshare charges count as part of the category. You also earn 3 points for every $1 spent on eligible streaming subscriptions in Canada. All other purchases nab 1 point per dollar spent. Plus, earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online. American Express Membership Rewards Points can be redeemed toward the card’s statement balance, on gift cards, and for merchandise, but cardholders will get maximum value when redeeming points on travel.

Those looking for a solid all-around travel credit card should consider the BMO Ascend™ World Elite®* Mastercard®*. New cardholders get up to 60,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.* Cardmembers also receive complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.

Additionally, cardholders will be covered with comprehensive travel insurance*. As for the earn rate, you’ll get 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.* Points can be redeemed toward travel through the BMO Rewards website, with one of the major benefits being that there are no blackout periods.

*Terms and conditions apply

If you're someone with good credit looking for a versatile and rewarding credit card, the RBC Avion Visa Infinite card might be just what you need. With its $120 annual fee, this card offers a balance of cost and benefits that appeals to savvy spenders. The earn rate of the Avion program is particularly attractive: You'll earn 1 Avion point for every dollar you spend, which can quickly accumulate. This generous rate ensures that your everyday purchases translate into valuable rewards.

What makes the RBC Avion Visa Infinite card especially appealing is its impressive welcome bonus. For new cardholders, there's the potential to earn up to 55,000 Avion points – a substantial head start in accumulating rewards. These points can be redeemed for more than just flights; they offer a variety of options, including merchandise and gift cards, adding flexibility to how you use your rewards. The Avion program stands out in the world of credit card rewards for its lack of blackout dates and seat restrictions, making it a top choice for travellers.

In essence, your good credit unlocks the door to a world of benefits with the RBC Avion Visa Infinite card. It's more than just a credit card; it's a portal to a rewarding lifestyle, with the Avion points system acting as a key to a wide range of rewards. The balance of the annual fee against the earn rate and welcome bonus makes this card a prudent choice for those who appreciate value and versatility in their financial tools.

Absolutely, having multiple credit cards can be beneficial for managing finances, earning varied rewards, and building credit, provided you handle them responsibly.

Paying your credit card bill early is a smart move. It reduces interest, improves credit scores, and offers financial peace of mind.

Accepting a credit limit increase can be positive, improving your credit utilization ratio, which can boost your credit score. Just avoid the temptation to overspend!