Best credit cards for online shopping
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Are you paying more than you need to for your online purchases? Most of us are spending more money online than ever before, but aren’t taking advantage of all the features and benefits offered by credit cards to save you money.
From cash back to no foreign-exchange fees to extended warranties, you have plenty of options to choose from when it comes to picking a credit card to match your online spending habits. Here is our list of the very best credit cards for online shopping, to save you money and protect your purchases!
At a glance
Best for unlimited cash back
SimplyCash® Preferred Card from American Express
Credit score required: Good/Excellent
The SimplyCash® Preferred Card from American Express offers one of the highest cash back rates on the market. If you’re making lots of online purchases, you can’t do much better. In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months. Conditions apply. Once the promotional period ends, you’ll still enjoy a stellar earn rate of 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases. This incredible cash back rate combined with the Buyer’s Assurance and Purchase Protection insurance for purchases made with the card make it the best credit card for online shopping. The only downside is that Amex isn’t accepted everywhere (though there is no shortage of partnering retailers).
- Welcome bonus: In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your card. This could add up to $400 in statement credits in the first 10 months. Conditions apply.
- Regular cash back: Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases.
- Additional perks: Buyer’s Assurance extends manufacturer’s warranty by up to one additional year; Purchase Protection insurance in the event of damage or theft within 90 days of purchase.
- Annual fee: $9.99/month (Equals a total fee of $119.88 annually)
Click here to apply or learn more by reading our complete SimplyCash® Preferred Card from American Express review.
Best card for price protection
MBNA Rewards World Elite® Mastercard®
Credit score required: Fair/Good
Min. personal income required: $80,000††††
The MBNA Rewards World Elite® Mastercard® is one of the few credit cards that offer Price Protection. If you buy something with your card and then find the same item advertised elsewhere at a lower price within 60 days of making your purchase, you can get a refund for the difference, up to $500 per item and up to $1,000 per year. If you’ve ever agonized about getting the best deal when online shopping, you can rest easy with Price Protection knowing you’ll have it no matter what.
- Welcome bonus: 30,000 Welcome Bonus points†† if you spend $2,000 and sign up for paperless e-billing within 90 days of opening your account.
- Rewards: Earn 5 MBNA Rewards points‡ per $1 spent on groceries, restaurants, memberships, digital media, and household utilities + 1 point‡ per $1 spent on everything else.
- Additional perks: Get an extra 10% of all the points you accumulate annually‡; Price Protection; Mobile Device Insurance; Purchase Assurance and Extended Warranty.
- Annual fee: $120
Click here to apply or learn more by reading our complete MBNA Rewards World Elite® Mastercard® review.
††, ‡, ✪, ***, ††††, 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.
Best no annual fee card
HSBC Cash Rewards Mastercard®
Recommended credit score: Fair/Good
Min. personal income: N/A
Age: Age of majority in your province or territory
The HSBC Cash Rewards Mastercard® is one of the few cards in Canada that specifically offers a special cash back rate for online purchases. Cardholders get 1.5% cash back on up to $6,000 worth of online purchases each year*. Grocery, gas, and drug store purchases earn 1% back*, and all other eligible purchases earn 0.5% back*.
Those who apply can earn an additional 12.5% cash back* on up to $1,000 in purchases made during their first 180 days with the card. Conditions apply. Quebecers are eligible for a different welcome offer in which they earn a flat $125 in cash back*, provided they simply keep the account open for 180 days. The HSBC Cash Rewards Mastercard® is also notable for including up to $1,000 worth of mobile device insurance if a mobile device you purchased with the card is lost, stolen, accidentally damaged, or has a mechanical failure. That’s a relatively unusual feature among any Canadian credit card, let alone a card with no annual fee.
- Regular cash back: 1.5% back on online purchases*; 1% back on gas, groceries, and drug store purchases*; 0.5% back on all other purchases*
- Additional perks: Mobile device insurance; extended warranty insurance; purchase assurance
- Annual fee: $0
Apply for the card here or learn more by reading our complete HSBC Cash Rewards Mastercard® review.
*Terms and conditions apply.
®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
Best card for foreign purchases
Home Trust Preferred Visa
Credit score required: Fair/Good
Min. personal income: $15,000
The Home Trust Preferred Visa stands out as one of the few cards with no annual fee offering both cash back and no foreign transaction fees. It also has a low minimum personal income requirement, making it easier to get than some competitors on this list.
If you frequently make online purchases from US or other international retailers, the Home Trust Preferred Visa is the best card for you. No other no annual fee cash back card waives the 2.5% fee you would normally pay for purchases in foreign currencies.
- Cash back: 1% cash back* on all eligible purchases (foreign transactions are excluded).
- Additional perks: No foreign transaction fees; Purchase Protection insurance in the event of damage or theft within 90 days of purchase.
- Annual fee: $0
- Not available for residents of Quebec.
Click here to apply or learn more by reading our complete Home Trust Preferred Visa review.
*Cash advances, balance transfers, interest, fees and foreign transactions (including online purchases in foreign currencies) are not eligible for CashBack Rewards.
Best prepaid card for finding great deals
Credit score: N/A
Min. personal income: N/A
KOHO’s prepaid card offers all the perks of a luxury credit card, but is also an incredible budgeting and savings tool. Get up to an extra 5% cash back at partnered merchants with KOHO Easy with virtual cards available to shop online securely. This allows for quick and easy online payments with improved security and the reduced risk of identity theft.
If you’re looking for the convenience and ease of a credit card for online shopping, but don’t actually want to apply for credit, KOHO is your best bet. Because you can’t actually spend more money than you’ve loaded to your KOHO card, you’ll never have to deal with a bill coming later.
- Cash back: No annual fee version (KOHO Easy) earns up 1% on groceries and transportation, and up to an extra 5% cash back at partners; KOHO Essential version earns 1% on groceries, transportation, eating and drinking, 0.25% all other categories, and up to 5% cash back extra at partnered merchants; KOHO Extra version earns 2% cash back on groceries, eating and drinking, and transportation, plus 0.5% back on everything else. The KOHO Extra version also earns up to 6% cash back extra at partners. The latter two of these include a fee.
- Additional perks: No foreign transaction fees and one free international ATM withdraw per month (both apply for Extra version only).
- Annual fee: $0 for KOHO or $84 (or $9/month) for KOHO Extra
Click here to apply or learn more by reading our complete KOHO review.
HSBC World Elite® Mastercard®
Credit score: N/A
Min. personal income: $80,000
The HSBC World Elite Mastercard gets an honourable mention because it offers a ton of value but does come with a very steep annual fee compared to its competitors.
- Welcome bonus of 20,000 points* ($100 travel value)
- Earn 10,000 points* each month when you spend at least $1,000 each month for the first 6 months of account opening (up to $300 travel value)
- First year annual fee rebate for the primary cardholder* ($149)
- Receive a $100 annual travel enhancement credit*
An HSBC Rewards point is worth $0.005 when redeemed for travel, so that adds up to $649 in total value* in the first year. This offer is only available to residents of Canada other than the province of Quebec (Quebec residents eligible for separate offer).
You can redeem points for travel, gift cards, HSBC financial products, merchandise, and cash back. With no foreign transaction fees (only the exchange rate will apply), purchase protection, and extended warranty, the HSBC World Elite Mastercard gets an honourable mention despite its high annual fee.
- Rewards: Earn 3% in travel rewards on all eligible travel purchases* (6 points per $1); 2% in travel rewards on all eligible gas, grocery, and drugstore purchases* (4 points per $1); and 1% in travel rewards on all other eligible purchases* (2 points per $1)
- Additional perks: No foreign transaction fees; Purchase Protection; Extended Warranty
- Annual fee: $149
Click here to apply or learn more by reading our complete HSBC World Elite Mastercard review.
*Terms and Conditions apply.
®/TM Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
Though there are many ways to save when you shop online, finding the right credit card that will serve your personal spending habits is a big part of that! Where you shop online and what you buy will determine whether you need a card with no foreign transaction fees or an extended warranty benefit. Personal preferences, like whether you want cash back or rewards points, will also influence your decision. Don’t dismiss cards with annual fees if they provide enough additional benefits to make up for the cost.
Why should I look for a credit card with no foreign transaction fees for online shopping?+
When shopping online from a retailer outside of Canada, you’re spending money in USD or another currency. Your cash will need to be converted from CAD to the foreign currency at the exchange rate. Furthermore, most credit cards also charge a foreign transaction fee of 2% to 3% on the purchase total. This can add to the expense of shopping online, especially if you regularly make large purchases with your credit card from foreign retailers. By choosing a credit card with no foreign transaction fees you can save money when shopping online.
Do I need a credit card to earn cash back on my online spending?+
Many cards will provide you with cash back for your spending, or rewards points that can be converted to cash back or redeemed for merchandise. While it’s nice to earn cash back on all your spending, especially online, you don’t necessarily need a cash back card to do it. You could also use cash back apps or sites and earn there.
Do I need a credit card with extended warranty protection for my online purchases?+
If you regularly buy electronics, home appliances, or other expensive purchases online, a credit card that offers an Extended Warranty feature is a must-have. This doubles the manufacturer's warranty by up to one additional year, extending the life of your purchase. However, if most of your online spending is for items like clothing or consumables, you might find you don't need this feature and can look for a credit card offering a more relevant perk to your spending.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.