Best Canadian grocery credit cards 2024

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Updated: June 03, 2024

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If you feel like a major portion of your budget is allocated toward groceries each month, you’re not alone: a Money.ca study1 confirms that food prices are continuing to rise and a majority of Canadians believe that rising food prices are outpacing their income.

But there are a number of effective strategies for grocery shopping that can reduce the bite that food takes out of your budget. The fastest change, and the one least disruptive to your current lifestyle, is to switch to a credit card that rewards you for your lengthy grocery bills. Here are our picks for the best grocery store credit cards in Canada. 

Best credit cards for groceries

Best grocery credit cards Best for Get started
BMO CashBack® World Elite® Mastercard®* Best Grocery credit card for 2024 Go to site
BMO CashBack® Mastercard®* Best no annual fee card Go to site
Scotia Momentum® Visa Infinite* Best credit card for maximizing cash back Go to site
PC Financial® World Elite Mastercard® Best no annual fee rewards card Go to site
MBNA Rewards World Elite® Mastercard® Best credit card for maximizing rewards Go to site
CIBC Dividend Visa Infinite Best credit card for Costco Go to site
American Express Cobalt® Card Best credit card for food delivery Go to site

Money.ca's pick for the best grocery credit card in Canada 2024

BMO CashBack® World Elite® Mastercard

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up to 10%

Excellent

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

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%

Purchase APR

20.99%

Balance Transfer Rate

23.99%

Cash Advance APR

23.99%

Annual Fee

$120

Foreign Transaction Fee

2.90%

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

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

After gathering over 7,000 data points, pushing them through our proprietary formulas, and working together as an editorial team to weigh in on the "soft" values of a credit card, we picked the BMO CashBack World Elite credit card as our best grocery card for 2024. 

Here's why:

  • 5% cash back on groceries, the highest of any credit card in Canada, at any grocery store. 
  • Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.
  • Because it's a Mastercard, you can use it at Costco (but likely a reduced earn rate)
  • You can redeem your cash back any time you want. As little as $1 or set up recurring withdrawals every time you hit $25. 
@moneydotca Uncovering the Secrets: Are Credit Card Points Truly Rewarding or Just a Scam? A #creditcardpoints #personalfinance #fyp #tiktokfinance #creditcard #money ♬ this feeling - Øneheart

Best no annual fee grocery credit card in Canada

BMO CashBack® MasterCard®

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5% cash back

Good

Get 5% cash back in your first 3 months*

Expires

Nov 30, 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

Offer overview:

The BMO CashBack® Mastercard®* offers a very high 3% regular cashback rate on groceries*, which is quite impressive given that the card has no annual fee. For cards with no annual fee, it offers the highest cash back rate on groceries in Canada. As a Mastercard it’s also one of the best credit cards for Walmart Supercentres (which Mastercard categorizes as a grocer) but its relatively low ‘all purchases’ earn rate of 0.5%* makes it less ideal for stores that Mastercard does not categorize as grocers, like Costco.

Key features:

  • Annual fee: $0
  • Welcome bonus: Get up to 5% cash back in your first 3 months, plus a $50 cash back bonus (when you spend $6,000) in your first year – that’s up to $175 cash back in your first year!*
  • Grocery cashback rate: 3% cash back on groceries after the first 3 months (up to $500 spent per billing cycle)*
  • Other cashback rates: 1% cash back on recurring bills after the first 3 months (up to $500 spent per billing cycle); 0.5% cash back on all other eligible purchases*
  • Additional features: 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred*

Our take:

There are other cards that earn more than a 3% return on groceries (see below), but they come with annual fees of $100+. If you won’t spend enough throughout the year to earn back the annual fee through cash back, or if you don’t meet the other cards’ higher income requirements, the BMO CashBack® Mastercard®* is a great option to pull out whenever you’re at the checkout counter.

*Terms and conditions apply

Statement based on a comparison of the non-promotional grocery rewards earn rate on Canadian cash back credit cards as of January 4, 2023.

Best credit card for maximizing cash back on groceries

Scotiabank Momentum® Visa Infinite

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10% back

Excellent

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.

For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases

4%

For every $1 you spend on gas and daily transit purchases

2%

Cash back on all other purchases with no cash back limit

1%

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$120

Foreign Transaction Fee

2.50%

Recommended Credit Score

Excellent

Required Annual Personal Income

$60,000

Required Annual Household Income

$100,000

Pros

  • High earn rate on everyday spending categories

  • Comprehensive travel and purchase insurance

  • Visa Infinite perks such as concierge, events, and special offers

  • 25% Car rental discounts at Avis and Budget

  • Mobile device insurance

  • Up to $200 welcome bonus

Cons

  • Income requirements are higher: $60k personal or 100k household

  • Cash back can only be redeemed once a year

Offer overview:

The Scotia Momentum Visa Infinite offers one of the best earn rates for groceries in Canada: a whopping 4%. This rate for groceries is accompanied by other accelerated rates of 4% for recurring bill payments, 2% for gas and daily transit, and 1% on everything else. The emphasis on rewarding your day-to-day spending will allow you to accrue cash back at a much faster rate than other Canadian credit cards. Keep in mind, however, that there are annual spending caps: Once you hit $25,000 in spending on groceries and recurring bills, the usual 4% rate will drop to 1% until the new year starts. The same applies to the 2% rate for gas and transit spend.

Key features:

  • Annual fee: $120 (waived in first year)
  • Welcome offer: Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).¹ No annual fee in the first year, including on supplementary cards.¹ 
  • Grocery cash back rate: 4%
  • Other cash back rates: 4% on recurring bills and subscription purchases.; 2% on gas and daily transit; 1% on everything else
  • Interest rates: 20.99% on purchases; 22.99% on balance transfers and cash advances.

Our take:

Earning 4% as a non-promo rate on groceries is a huge benefit. The spending cap is a bit of a bummer, but even large families are unlikely to reach $25,000 in annual spending on groceries and recurring bills combined.

Best no annual fee grocery rewards credit card

PC® World Elite Mastercard

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30 pts per $1

Fair

Earn 30 points per $1 spent at PC grocery stores

* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix

45 points

At least 30 points per litre of gas purchased at Esso™ or Mobil™ stations

30 points

At least 30 points per $1 spent on PC Travel services

30 points

30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)

30 points

Purchase APR

21.99%

Balance Transfer Rate

21.99%

Cash Advance APR

22.97%

Annual Fee

$0

Recommended Credit Score

Fair

Required Annual Personal Income

$80,000

Pros

  • No annual fee

  • High earn rates in certain stores

  • Easy, straightforward redemptions

  • Points don’t expire provided your account stays active and in good standing

  • Special events allow you to earn extra points

Cons

  • High income requirement to qualify

  • Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores

  • Points can’t be transferred to other loyalty programs

  • The included travel insurance is very limited

Offer overview:

The PC Financial® World Elite Mastercard® is a great credit card for those who shop frequently at Loblaw banner grocery stores, which make up one of the largest grocery store networks in Canada and include Loblaws, No Frills, Real Canadian Superstore, and other participating stores where President’s Choice® products are sold. Buying groceries in Loblaw banner stores with the PC Financial® World Elite Mastercard® will earn 30 points per $1 spent, which works out to a 3% rate of return (10,000 PC Optimum™ points are worth $10 in rewards). These points earned per $1 are in addition to the extra points you may earn via the PC Optimum™ points weekly personalized offers and in-store offers.

Key features:

  • Annual fee: None
  • Points earned on groceries: 30 points per $1 spent at participating stores where President’s Choice® products are sold.
  • Points earned elsewhere: Up to 45 points per $1 at Shoppers Drug Mart; 30 points per litre at EssoTM/MobilTM locations in Canada and 30 points per $1 on PC® travel services; 10 points per $1 everywhere else
  • Insurance: Travel medical insurance for those under age 65 and car rental insurance
  • Additional features: For new accounts transferred balances get 0.97% interest for six months (22.97% after six months)

Our take:

This is a great option for those who: 1. Do the majority of their grocery shopping at Loblaw banner stores; 2: Are averse to paying an annual fee for their credit card; and 3: Meet this card’s income requirements. But keep in mind that there are other credit cards outside the PC Optimum program that earn higher levels of cash back or rewards, provided you spend enough on groceries each year to make up for their annual fee. We recommend looking at the CIBC Dividend® Visa Infinite* Card and the American Express Cobalt® Card for those who spend at least $3,000-$3,500 on groceries annually and who regularly shop outside Loblaw banner stores.

Best credit card for maximizing rewards on groceries

MBNA Rewards World Elite Mastercard

Apply now

30,000 pts

Good

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

MBNA offers up to a 30,000-point welcome bonus

30,000

You get five points‡ per dollar spent on groceries, restaurants, digital media, memberships, and household utilities

5

All other purchases outside those categories earn one point per $1 spent.

1

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

24.99%

Annual Fee

$120

Recommended Credit Score

Good

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • High earn rates: Up to 5 points per $1 on groceries, restaurants, digital media, memberships, utilities

  • Generous welcome bonus of up to 30,000 points, covering first-year annual fee

  • Points never expire, flexible redemption options including travel and statement credit

  • Birthday bonus: Up to 15,000 points annually, 10% of points earned in the previous year

  • Comprehensive benefits: Price protection, purchase assurance, extended warranty, travel insurance

Cons

  • High income requirements: $80,000 personal or $150,000 household income

  • Annual fee of $120 after the first year

  • Travel insurance package not as robust as other cards at similar price points

Offer overview:

The MBNA Rewards World Elite® Mastercard® earns 5 points per $1 spent on not only groceries, but also on restaurants, digital media, memberships, and household utilities. That earn rate is valid through $50,000 in annual spending for all those categories combined, which is quite a high limit, even for large families. After reaching $50K in annual spending the rate drops to 1 point per $1 spent until the new year starts.

When it comes time to redeem those rewards, travel redemptions get the most value, at 100 points for $1. But the redemption rate for cash is also quite respectable, at 120 points per $1—that flexibility is very useful.

Key features:

  • Annual fee: $120
  • Points earned on groceries: 5 points per $1 spent (also applies to spending on restaurants, digital media, memberships, and household utilities)
  • Base earn rate: 1 point per $1 spent
  • Welcome bonus: Earn up to 30,000 MBNA Rewards Points††—20,000 points†† when you make at least $2,000 in eligible purchases within the first 90 days of card membership plus an additional 10,000 points†† when you enroll in paperless e-statements in the first 90 days of card membership. You also earn Birthday Bonus Points of 10% of your total accumulated points in the last 12 months (up to a maximum of 15,000 points annually)
  • Interest rates: 19.99% on purchases; 22.99% on balance transfers; and 24.99% on cash advances

Our take:

Compared to rewards cards, most cash back cards typically have slightly lower earn rates on groceries and lower annual spending limits as well. So if you like to travel, it might be worthwhile to go with a travel rewards card like the MBNA Rewards World Elite® Mastercard®, which pumps out rewards points for your grocery trips and has a crazy-high annual limit for earning at its 5 pointsper $1 rate. Seriously, even a family with 10 kids is unlikely to pass $50K a year in grocery and restaurant bills, but if you somehow manage to reach that limit with this card you’ll at least have enough points to fly the entire clan to Canada’s Wonderland.

††, , , ***, ††††, Terms and Conditions apply.

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 credit card for Costco groceries

Rogers™ World Elite Mastercard

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$25 back

Excellent

$25 Welcome Bonus in cash back rewards upon first card purchase within 3 months of receiving your card2

Earn 3% unlimited cash back on purchases made in U.S. dollars.

3%

Earn 1.5% unlimited cash back on everything else.

1.5%

Purchase APR

19.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • Lucrative cash back rates on USD and CAD purchases

  • No annual fee with valuable insurance benefits

  • Competitive against foreign transaction fee cards

  • Convenient cash back redemption options

  • Travel insurance perks and airport lounge access

  • Welcome bonus in cash back rewards

Cons

  • High income requirement: $80,000 personal or $150,000 household

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Offer overview:

Costco in Canada accepts Mastercard only; no Visa or Amex. Unfortunately Mastercard does not categorize Costco as a grocery store, so Mastercards with particularly high earn rates for groceries aren’t advantageous for Costo junkies. The most remunerative cards for Costco are instead Mastercards with high ‘base’ earn rates, i.e. high earn rates on all eligible spending regardless of its purchase category. Although Costco does have its own CIBC Mastercard, it is, bafflingly enough, not a great card for saving at Costco: Its base earn rate is a disappointingly low 0.5–1%, and it does not offer a special cashback rate for Costco purchases. In our estimation the best card for saving at Costco is instead the Rogers™ World Elite® Mastercard®, because it earns 1.0% cash back rewards on all eligible purchases in Canadian dollars and has no annual fee.

Key features:

  • Annual fee: $0
  • Regular cashback rewards: 1.0%
  • USD cashback rewards: 3%
  • Additional features: Free LoungeKey airport lounge membership; global Wi-Fi access; some travel insurance

Our take:

We recommend the card to anyone who makes a substantial amount of purchases at Costco, and particularly to those who also travel with some frequency to the United States. With the card’s 3% cashback rewards on purchases in USD, a trip to Costco in the US will effectively earn 0.5% cash back after factoring out the 2.5% foreign transaction fee.

Best credit card for food delivery in Canada (when you run out of groceries)

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

Offer overview:

The American Express Cobalt® Card has emerged as one of the most lucrative credit cards during the coronavirus pandemic due to its rewards structure, earning five Amex Membership Rewards® points per $1 spent on businesses that deliver food and groceries as their primary service.

This delivery earning hack can also be used to circumvent the usual limitations in using Amex at some grocery stores in person; for instance, you can earn five points per $1 when using Instacart to deliver groceries from Loblaws banner stores, though an Amex won’t be accepted at a Loblaws counter itself. The five points per $1 rate also applies to eligible stand-alone grocery stores, restaurants, coffee shops, bars and food delivery purchases via Uber Eats or DoorDash.

Key features:

  • Annual fee: $155.88 ($12.99 monthly fee)
  • Food earn rates: 5 points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies. (up to $30K in annual spending)
  • Other accelerated earn rates: 3 points per $1 spent on eligible streaming subscriptions in Canada; 2 points per $1 spent on eligible ride shares, transit & gas in Canada, such as flights, rail transit, hotels, etc. and local commuter transit like the subway, taxis, ridesharing services, and more; plus, earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
  • Base earn rate: 1 point per $1 spent on everything else
  • Welcome bonus: Earn up to 15,000 Membership Rewards® points in the first year (conditions apply).

Our take:

Amex credit cards historically haven’t been the best option for saving on groceries, as their acceptance rate has been lower than Mastercard and Visa. But that’s gradually changing, and you might be surprised by which stores accept Amex today. We recommend the American Express Cobalt® Card particularly to those who regularly utilize delivery service companies to meet their food needs.

Best credit cards by grocery store

  • Best credit card for Loblaws, No Frills, Independent, Freshmart, Fortinos, Provigo, Real Canadian Superstore, Shoppers Drug Mart, Super Valu, T&T, Valu-mart, Zehrs markets

    +

    PC Financial credit cards - Mostly no-fee credit cards (just higher income and credit score requirements for the World Elite). This selection of cards helps you reap the rewards at whatever store your shopping at under the Loblaw company umbrella. Now, if you're part of the #loblawsisoutofcontrol movement on reddit, it may be time to cash out your rewards in gift cards and stop using your credit card (don't cut it up yet, save your credit history until you apply for a new one).

  • Best credit card for Sobeys, FreshCo, IGA and Foodland

    +

    Scotiabank Gold Amex - If you can handle the $120 fee, this card gives huge earn rates at Sobeys, FreshCo, IGA, Foodland and more, plus it has sweet travel insurance.

    If you're not a fan of Amex and need a card that still has travel perks, check out the Scotiabank Passport. It's a Visa, the earn rates are still good, and you get airport lounge access.

  • Best credit card for Metro, Food Basics and Super C

    +

    CIBC Dividend Visa Infinite earns 4% cash back on groceries with a hard to beat spending cap of up to $20,000 ($800 cash back if you hit there).

  • Best Visa credit card for Costco groceries

    +

    We like the Rogers World Elite for its flat 1.5% cash back. But, if you want a more versatile cashback credit card, check out the CIBC Dividend Visa Infinite earns 4% cash back on groceries with a hard to beat spending cap of up to $20,000 ($800 cash back if you hit there). Visa is not accepted at Costco, but you can buy gift cards with Visa at https://www.costco.ca/costco-cash-cards.html so it's a pretty sweet workaround to get 1% cash back at Costco.

  • Best credit card for Walmart groceries

    +

    Walmart Rewards Mastercard is a no annual fee card that gives you a measly 1.25% cash back at Walmart.

    Walmart, like Costco, is often categorized as a discount warehouse MCC 5300, not grocery MCC 5411. So, you're looking for anything that'll give you at least 1% cash back on everything else, no annual fee, and maybe some perks. I'd look at BMO CashBack or the CIBC Dividend card.

FAQs

  • Can you use a credit card to buy groceries?

    +

    Yes. Most Canadian grocers will accept Visa or Mastercard credit cards. Not all will accept Amex credit cards, but Amex’s acceptance rate has improved in recent years.

  • Is Costco considered a grocery store by credit cards?

    +

    Costco in Canada only accepts Mastercard, which unfortunately does not categorize Costco as a grocery store. To maximize cash back at Costco, it’s best to use a Mastercard with a high earn rate on all spending, regardless of its category.

  • Which Mastercard will consider Costco as Grocery category?

    +

    No credit card will consider Costco as a grocery category according to Merchant category codes (MCC). Grocery stores are MCC 5411. Costco is MCC 5300 for discount warehouse store.

  • Sources

    +

    1. https://money.ca/managing-money/debt/canadian-spending-habits-over-the-last-decade

Tyler Wade Content strategist & writer

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca.

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