Top 3 points credit cards in Canada
The best rewards cards provide high earn rates, exclusive benefits and discounts, and luxury travel perks.
Credit cards don’t exist solely to help you spend money. The best rewards credit cards in Canada will let you earn points with regular shopping. The key is to choose a rewards card with the best points-earning potential and a solid and worthwhile rewards program that suits your lifestyle (and yes, the perks and privileges are pretty nice, too). Here's our list of best rewards credit cards in Canada based on our methodology below.
Best points credit card Canada
up to 85,000 pts†
Welcome Bonus
$3,067
First Year Value
$67
Annual Value
Welcome Bonus: Earn up to $3,000 in value† including up to 85,000 Aeroplan points†. Conditions Apply. Offer effective as of January 7, 2025.
Get this card if you...
-
want exclusive travel perks like lounge access
-
want to maximize your Aeroplan points with great offers
-
want comprehensive travel insurance to ensure peace of mind
Annual Fee & Annual Interest Rates
$599
Annual Fee
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The TD® Aeroplan® Visa Infinite Privilege* Card is a premium travel rewards credit card tailored for frequent Air Canada travelers, offering elevated Aeroplan points on direct Air Canada purchases, as well as on eligible gas, grocery, travel, and dining expenses. Cardholders benefit from perks such as a NEXUS application fee rebate†, complimentary first checked bag for the primary cardholder and up to eight companions on Air Canada flights†, and access to select airport lounges†; however, the card carries a substantial annual fee and requires a high personal or household income for eligibility.
Eligibility
Excellent (740+)
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Pros
-
Welcome bonus up to $3,000 in value† including up to 85,000 Aeroplan points†
-
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
-
Priority Airport Services† like Boarding, Baggage Handling, and Priority Boarding
-
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)
-
Up to $100 CAD NEXUS credit†
-
Troon Rewards Platinum status benefit
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
Annual Interest Rates
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$599
Annual Fee
2.50%
Foreign Transaction
Rewards Aeroplan
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, electric vehicle charging, groceries, travel & transit 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 pay with your Card and provide your Aeroplan number at over 150 Aeroplan partner brands and at 200+ online retailers via the Aeroplan eStore (www.aeroplan.com/estore).
50%
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
$100
Apply for the NEXUS program membership and once every 48 months get an application fee rebate (up to $100 CAD)†.
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†
Insurance Benefits
$1,500
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to $3,000 in value† including up to 85,000 Aeroplan points and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
Earn a welcome bonus of 20,000 Aeroplan points when you make your first Purchase with your new Card†
Earn an additional 35,000 Aeroplan points when you spend $12,000 within 180 days of Account opening†
Plus, earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of Account opening†
Additional Travel Benefits
Apply for the NEXUS program membership and once every 48 months get an application fee rebate (up to $100 CAD)†.
Share first free checked bags with up to 8 travel companions† and get unlimited access to Maple Leaf Lounges† including complementary access for one guest.
Plus, primary cardholders get 6 complimentary worldwide select airport lounge visits annually through the Visa Airport Companion Program†
Starbucks Bonus Offer for New Linked Members†: Link your TD Aeroplan Visa Infinite to earn 600 Starbucks Stars and redeem them for free Starbucks treats. Limited time only. Conditions and restrictions apply.
Disclosures:
†Terms and conditions apply.
This offer is not available for residents of Quebec.
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. Sponsored Content.
Our Take
The TD® Aeroplan® Visa Infinite Privilege* Card is a premium travel rewards credit card tailored for frequent Air Canada travelers, offering elevated Aeroplan points on direct Air Canada purchases, as well as on eligible gas, grocery, travel, and dining expenses. Cardholders benefit from perks such as a NEXUS application fee rebate†, complimentary first checked bag for the primary cardholder and up to eight companions on Air Canada flights†, and access to select airport lounges†; however, the card carries a substantial annual fee and requires a high personal or household income for eligibility.
Eligibility
Excellent (740+)
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Pros
-
Welcome bonus up to $3,000 in value† including up to 85,000 Aeroplan points†
-
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
-
Priority Airport Services† like Boarding, Baggage Handling, and Priority Boarding
-
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)
-
Up to $100 CAD NEXUS credit†
-
Troon Rewards Platinum status benefit
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
Annual Interest Rates
21.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$599
Annual Fee
2.50%
Foreign Transaction
Rewards Aeroplan
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, electric vehicle charging, groceries, travel & transit 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 pay with your Card and provide your Aeroplan number at over 150 Aeroplan partner brands and at 200+ online retailers via the Aeroplan eStore (www.aeroplan.com/estore).
50%
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
$100
Apply for the NEXUS program membership and once every 48 months get an application fee rebate (up to $100 CAD)†.
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†
Insurance Benefits
$1,500
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to $3,000 in value† including up to 85,000 Aeroplan points and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
Earn a welcome bonus of 20,000 Aeroplan points when you make your first Purchase with your new Card†
Earn an additional 35,000 Aeroplan points when you spend $12,000 within 180 days of Account opening†
Plus, earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of Account opening†
Additional Travel Benefits
Apply for the NEXUS program membership and once every 48 months get an application fee rebate (up to $100 CAD)†.
Share first free checked bags with up to 8 travel companions† and get unlimited access to Maple Leaf Lounges† including complementary access for one guest.
Plus, primary cardholders get 6 complimentary worldwide select airport lounge visits annually through the Visa Airport Companion Program†
Starbucks Bonus Offer for New Linked Members†: Link your TD Aeroplan Visa Infinite to earn 600 Starbucks Stars and redeem them for free Starbucks treats. Limited time only. Conditions and restrictions apply.
Disclosures:
†Terms and conditions apply.
This offer is not available for residents of Quebec.
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. Sponsored Content.
The TD Aeroplan Visa Infinite Privilege Card shines thanks to its huge welcome offer. Those stats and insurance coverage heavily favor the card but there’s plenty more to love.
For starters, the card features a very competitive earn rate on travel purchases with solid points in key everyday categories like dining and groceries, both areas where the average consumer spends heavily. There is also the slew of Air Canada benefits, like priority boarding, priority baggage handling, and access to Maple Leaf Lounges while in Canada. Cardholders even get their first bag free on Air Canada flights - a perk that extends to up to eight passengers on the same itinerary.
Key features:
- Welcome bonus: Earn up to $3,000 in value† including up to 85,000 Aeroplan points†. Conditions Apply. Offer effective as of January 7, 2025.
- Earn rates: Earn 2 points† for every $1 spent on eligible purchases made direct through Air Canada® purchases (including Air Canada Vacations®); 1.5 points† for every $1 on eligible gas, electric vehicle charging, groceries, travel & transit and dining purchases; and 1.25 points† on all other purchases
- Travel benefits: Maple Leaf Lounges access, priority boarding and baggage with Air Canada, first checked bag free with Air Canada, NEXUS application credits and preferred pricing with Air Canada.
- Insurance coverage: Extensive coverage, including travel accident insurance, baggage delay, trip interruption/cancellation insurance, rental car coverage, hotel burglary insurance, extended warranty, price protection and more.
TD Aeroplan VIP pros and cons
- Welcome bonus up to $3,000 in value† including up to 85,000 Aeroplan points†
- Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
- Priority Airport Services† like Boarding, Baggage Handling, and Priority Boarding
- 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)
- Up to $100 CAD NEXUS credit†
- Troon Rewards Platinum status benefit
- 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
TD Disclosure:
-
†Terms and conditions apply.
This offer is not available to residents of Quebec.
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. Sponsored Content.
Best rewards credit card in Canada with a welcome bonus
up to 85,000 points
Welcome Bonus
$1,770
First Year Value
$70
Annual Value
Welcome Bonus: Earn up to 85,000 Welcome Bonus Aeroplan®* points.
Get this card if you...
-
fly with Air Canada and want priority boarding and lounge access
-
are looking to earn Aeroplan points faster through higher earn rates
-
want comprehensive travel insurance to ensure peace of mind
Annual Fee & Annual Interest Rates
$599
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The American Express® Aeroplan®* Reserve Card is a premium travel credit card tailored for frequent Air Canada travelers, offering elevated rewards on Air Canada purchases and dining, along with comprehensive travel benefits such as priority airport services and lounge access. Cardholders also enjoy extensive insurance coverage and an annual worldwide companion pass, enhancing both the value and convenience of their travel experiences.
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Generous signup bonus where you can earn up to 85,000 Aeroplan points
-
High earn rates on Air Canada, dining, and food delivery
-
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
-
Complimentary access to select Air Canada Maple Leaf Lounges within North America
-
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
-
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
-
$100 NEXUS statement credit every 4 years
-
Robust insurance coverage including emergency medical
-
Access to Amex Experiences such as movie premieres
-
No minimum income requirement
Cons
-
High annual fee of $599
-
Lower acceptance when compared to Visa and Mastercard
-
High spending to unlock signup bonus
-
Limited high-earning categories
-
2.5% foreign transaction fee
-
Priority perks limited to Air Canada flights
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$599
Annual Fee
2.50%
Foreign Transaction
Rewards Aeroplan
3X
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
2X
the points on eligible Dining and Food Delivery purchases in Canada
1.25X
the points on everything else
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 85,000 Welcome Bonus Aeroplan®* points.
Earn 60,000 Aeroplan®* points* after spending $7,500 on your Card within the first 3 months as a new Cardmember.*
Plus, earn 25,000 Aeroplan®* points* when you spend $2,500 in month 13.*
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Our Take
The American Express® Aeroplan®* Reserve Card is a premium travel credit card tailored for frequent Air Canada travelers, offering elevated rewards on Air Canada purchases and dining, along with comprehensive travel benefits such as priority airport services and lounge access. Cardholders also enjoy extensive insurance coverage and an annual worldwide companion pass, enhancing both the value and convenience of their travel experiences.
Eligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
Generous signup bonus where you can earn up to 85,000 Aeroplan points
-
High earn rates on Air Canada, dining, and food delivery
-
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
-
Complimentary access to select Air Canada Maple Leaf Lounges within North America
-
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
-
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
-
$100 NEXUS statement credit every 4 years
-
Robust insurance coverage including emergency medical
-
Access to Amex Experiences such as movie premieres
-
No minimum income requirement
Cons
-
High annual fee of $599
-
Lower acceptance when compared to Visa and Mastercard
-
High spending to unlock signup bonus
-
Limited high-earning categories
-
2.5% foreign transaction fee
-
Priority perks limited to Air Canada flights
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$599
Annual Fee
2.50%
Foreign Transaction
Rewards Aeroplan
3X
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
2X
the points on eligible Dining and Food Delivery purchases in Canada
1.25X
the points on everything else
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 85,000 Welcome Bonus Aeroplan®* points.
Earn 60,000 Aeroplan®* points* after spending $7,500 on your Card within the first 3 months as a new Cardmember.*
Plus, earn 25,000 Aeroplan®* points* when you spend $2,500 in month 13.*
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
The American Express® Aeroplan®* Reserve Card is a premium airline with exceptional overall value. The card comes with a massive welcome bonus up to 85,000 Aeroplan®* points, offers a high earn rate on dining and Air Canada travel, and features a huge array of premium travel benefits and insurance protections.
Key features:
- Welcome bonus: Earn up to 85,000 Welcome Bonus Aeroplan®* points.
- Earn rates: Earn 2x Aeroplan points on eligible Air Canada®* and Air Canada Vacations®* purchases, 1.5x Aeroplan points on eligible dining and food delivery purchases in Canada and 1x Aeroplan point on all other purchases
- Insurance coverage: Flight delay and cancellation insurance, travel accident insurance, car rental protection, hotel burglary insurance and more.
Amex Aeroplan pros and cons
- Generous signup bonus where you can earn up to 85,000 Aeroplan points
- High earn rates on Air Canada, dining, and food delivery
- Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
- Complimentary access to select Air Canada Maple Leaf Lounges within North America
- Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
- Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
- $100 NEXUS statement credit every 4 years
- Robust insurance coverage including emergency medical
- Access to Amex Experiences such as movie premieres
- No minimum income requirement
- High annual fee of $599
- Lower acceptance when compared to Visa and Mastercard
- High spending to unlock signup bonus
- Limited high-earning categories
- 2.5% foreign transaction fee
- Priority perks limited to Air Canada flights
Amex Aeroplan Reserve disclosures:
- *Terms and conditions apply
-
Contact American Express for the most up-to-date referral bonus figures.
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. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Best rewards credit card no annual fee
up to 10,000 points
Welcome Bonus
$860
First Year Value
$360
Annual Value
Welcome Bonus: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. Plus, earn up to 10,000 bonus points†.
Get this card if you...
-
want to earn rewards on everyday purchases such as groceries
-
value flexible redemption options
-
want to avoid paying any annual fees
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The MBNA Rewards Platinum Plus® Mastercard® is a no-annual-fee credit card that allows cardholders to earn rewards points on everyday purchases, with accelerated rates in categories such as groceries, restaurants, digital media, memberships, and household utilities. These points can be redeemed flexibly for travel, merchandise, gift cards, or cash back, providing versatility to suit various spending habits and preferences.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Annual Interest Rates
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards MBNA Rewards
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Insurance Benefits
$1,000
Mobile device insurance amount
For the first 90 days of account opening, new cardholders will earn an additional 2 points/$1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases (on top of the regular earn rate of 2 points/$1 spent) until $10,000 is spent annually in each category.
Plus, new cardholders can get up to 10,000 bonus MBNA Rewards points †† when they sign up for paperless e-statements (5,000 points†) and make $500 or more in purchases within the first 90 days (another 5,000 points†).
Our Take
The MBNA Rewards Platinum Plus® Mastercard® is a no-annual-fee credit card that allows cardholders to earn rewards points on everyday purchases, with accelerated rates in categories such as groceries, restaurants, digital media, memberships, and household utilities. These points can be redeemed flexibly for travel, merchandise, gift cards, or cash back, providing versatility to suit various spending habits and preferences.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Annual Interest Rates
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards MBNA Rewards
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Insurance Benefits
$1,000
Mobile device insurance amount
For the first 90 days of account opening, new cardholders will earn an additional 2 points/$1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases (on top of the regular earn rate of 2 points/$1 spent) until $10,000 is spent annually in each category.
Plus, new cardholders can get up to 10,000 bonus MBNA Rewards points †† when they sign up for paperless e-statements (5,000 points†) and make $500 or more in purchases within the first 90 days (another 5,000 points†).
The MBNA Rewards Platinum Plus® Mastercard® is an overlooked gem among rewards cards in Canada and could be an ideal fit for anyone who is averse to paying an annual fee and whose biggest spending categories are groceries, restaurants, subscriptions and utilities.
The MBNA Rewards Platinum Plus® Mastercard’s welcome offer is generous. After the welcome bonus period ends the rate drops to a still-high 2 points‡ per $1 spent in those categories. These enhanced earn rates are applicable for up to $$10,000 per year in purchases annually in each of those individual spending categories after which all purchases will earn 4 point‡ per $1 spent until the beginning of a new year.
Key features:
- Annual fee: $0
- Welcome offer: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. Plus, earn up to 10,000 bonus points†.
- Regular earn rates: Earn 2 MBNA Rewards points for every $1 spent†† in several categories, including groceries, restaurants, digital media, memberships, and household utilities. and 1 MBNA Rewards point on all other purchases
- Birthday Bonus Points: In your annual birthday month‡ you’ll receive an extra 10% of the total points you earned in the previous year (max 10K Birthday Bonus Points annually)
- Interest rates: 19.99% Purchase APR; 22.99%✪ Balance Transfer APR; 24.99% Cash Advance APR
MBNA Platinum Plus pros and cons
- No annual fee
- Accelerated rewards on groceries, restaurants, and more
- Simple point structure with flexible redemption options
- Generous introductory bonus of up to 10,000 points
- No cap on total points earned
- Lower cash back redemption rate compared to designated cash back cards
- Limited benefits beyond rewards
- Points system may not appeal to cash back enthusiasts
- Higher earning categories have a spending cap of $10,000 annually
- Better suited for travel rewards than cash back
MBNA Rewards Platinum Plus disclosures:
-
‡, ††, ✪, ***, 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 rewards credit card in Canada for groceries
100,000 PC points
Welcome Bonus
$538
First Year Value
$438
Annual Value
Welcome Bonus: Get up to 100,000 bonus PC Optimum™ points†. Expires Jun 10, 2025
Get this card if you...
-
want to quickly rack up PC Optimum points
-
want to avoid paying an annual fee
-
want basic insurance benefits
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Our Take
The PC Financial® World Elite Mastercard® is a no-annual-fee credit card designed for frequent shoppers at Loblaw-affiliated stores, offering elevated PC Optimum points on purchases at these retailers, including Shoppers Drug Mart and Joe Fresh. Cardholders benefit from perks such as 24/7 concierge service and travel emergency medical insurance; however, the card has a high income requirement, and its rewards are primarily limited to Loblaw banner stores.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$80,000
Required Annual Personal Income
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
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
Insurance Benefits
$65,000
Rental car insurance amount
Get up to 100,000 bonus PC Optimum™ points†:
Earn 75,000 points when you spend $50 or more in total purchases at participating Loblaw stores in Canada within 60 days of account approval†.
Earn 25,000 points when you spend $50 or more in total purchases at Esso™ or Mobil™ stations in Canada within 60 days of account approval†.
Our Take
The PC Financial® World Elite Mastercard® is a no-annual-fee credit card designed for frequent shoppers at Loblaw-affiliated stores, offering elevated PC Optimum points on purchases at these retailers, including Shoppers Drug Mart and Joe Fresh. Cardholders benefit from perks such as 24/7 concierge service and travel emergency medical insurance; however, the card has a high income requirement, and its rewards are primarily limited to Loblaw banner stores.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$80,000
Required Annual Personal Income
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
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
Insurance Benefits
$65,000
Rental car insurance amount
Get up to 100,000 bonus PC Optimum™ points†:
Earn 75,000 points when you spend $50 or more in total purchases at participating Loblaw stores in Canada within 60 days of account approval†.
Earn 25,000 points when you spend $50 or more in total purchases at Esso™ or Mobil™ stations in Canada within 60 days of account approval†.
When you compare rewards credit cards in Canada — particularly those with a $0 annual fee — you’ll find that few cards offer a meaningful points rate outside of the promo period. And, while many retailers in Canada have a loyalty program, only a handful have a co-branded credit card. With the PC® World Elite Mastercard®, you earn 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix, and 30 points per $1 spent at Loblaw Banner Grocery Stores.
According to Globe and Mail research, the average Canadian family will spend around $16,300 on groceries each year - a truly staggering sum! With the PC World Elite Mastercard that same family would stand to earn at least 489,000 PC Optimum points, or about $489 in cash back each year.
PC Mastercard pros and cons
- 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
- 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
PC World Elite disclosures:
-
Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.
Best rewards credit card for everyday spending
up to 40,000 pts
Welcome Bonus
$1,512
First Year Value
$732
Annual Value
Welcome Bonus: Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points. Expires Jul 01, 2025
Get this card if you...
-
want exclusive travel benefits like no foreign exchange fees
-
need comprehensive travel insurance benefits
-
want to access exclusive Amex offers
Annual Fee & Annual Interest Rates
$120
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The Scotiabank Gold American Express® Card is a rewards credit card that offers accelerated earn rates on categories such as groceries, dining, and entertainment. It also provides benefits like no foreign transaction fees and comprehensive travel insurance, making it suitable for both everyday spending and international use.
Eligibility
Very Good (671 - 739)
Recommended Credit Score
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
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$120
Annual Fee
0.00%
Foreign Transaction
Rewards Scene+
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points 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
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance Benefits
$1,000
Mobile device insurance amount
$1,000,000
Emergency medical insurance amount
3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points. To qualify for these offers make sure to open a new Scotiabank Gold American Express credit card account (“Account”) opened between January 3, 2025 and July 1, 2025 |
Our Take
The Scotiabank Gold American Express® Card is a rewards credit card that offers accelerated earn rates on categories such as groceries, dining, and entertainment. It also provides benefits like no foreign transaction fees and comprehensive travel insurance, making it suitable for both everyday spending and international use.
Eligibility
Very Good (671 - 739)
Recommended Credit Score
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
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$120
Annual Fee
0.00%
Foreign Transaction
Rewards Scene+
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points 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
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance Benefits
$1,000
Mobile device insurance amount
$1,000,000
Emergency medical insurance amount
3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points. To qualify for these offers make sure to open a new Scotiabank Gold American Express credit card account (“Account”) opened between January 3, 2025 and July 1, 2025 |
The Scotiabank Gold American Express® Card is one of the few rewards cards that really pays you back for the everyday spending you make at home, as well as cutting you a break on what you spend while travelling overseas.
It offers very high earn rates on what are likely your biggest daily spending categories, nabbing 6 X Scene+ points for each $1 CAD spent at eligible grocers like Sobeys¹ (as well as 5X per $1 CAD on dining, other grocery stores, and entertainment) and 3X points for every $1 CAD spent on eligible gas, daily transit and select streaming purchases. It’s also one of the few cards in Canada that waives foreign transaction fees, saving you money every time you make a purchase in a foreign currency.
Key features:
- Sign-up bonus: Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.
- No foreign transaction fees: Most rewards cards charge 2.5% every time you make a purchase in a foreign currency
- High earn rates: Earn 6 X Scene+ points for each $1 CAD spent at eligible grocers like Sobeys¹ (as well as 5X per $1 CAD on dining, other grocery stores, and entertainment) and 3X points for every $1 CAD spent on eligible gas, daily transit and select streaming purchases.
- Comprehensive travel insurance: Includes standout coverage like up to $500 for lost or delayed luggage
Scotiabank Gold Amex pros and cons
- 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
- Relatively low-value welcome bonus
- $120 annual fee that chews into your point value substantially
- Scene points redeem poorly for travel
Scotiabank Gold American Express disclosures:
-
Conditions Apply. Visit here for the Scotiabank Gold American Express® Card to learn more.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Best dining credit card with points earning potential
up to 120,000 points
Welcome Bonus
$1,531
First Year Value
$731
Annual Value
Welcome Bonus: Get up to 120,000 Points.* Expires Jun 01, 2025
Get this card if you...
-
are a high earner, looking to earn rewards on everyday spending
-
want benefits like lounge access and an annual lifestyle credit
-
want comprehensive insurance coverage
Annual Fee & Annual Interest Rates
$599
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Our Take
The BMO eclipse Visa Infinite Privilege* Card is a premium rewards credit card offering elevated earn rates on categories such as groceries, dining, drugstore purchases, gas, and travel. Cardholders benefit from an annual lifestyle credit, Visa Airport Companion membership with complimentary lounge visits and comprehensive insurance coverage.
Eligibility
Excellent (740+)
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Pros
-
Strong welcome bonus
-
High rewards earning rate*
-
Earn more when you add supplemental cards*
-
Annual lifestyle credit of $200*
-
Mobile device insurance*
-
Extensive travel insurance*
-
Extended warranty and purchase assurance*
-
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
-
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
-
High annual fee
-
High eligibility requirements
-
The welcome bonus is not awarded immediately
-
High rewards earning rate reduces after $50,000 spend
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$599
Annual Fee
Rewards BMO Rewards
5
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
1
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
$200
Get a $200 anniversary lifestyle credit to use however you want.
Insurance Benefits
$1,000
Mobile device insurance amount
3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
Get up to 120,000 Points.*
50,000 points when you spend $6,000 in the first 3 months,
Plus, 30,000 points when you spend at least $30,000 in the first 6 months.
Receive an additional 40,000 points when you spend at least $75,000 in the first year.
*Terms and Conditions apply
Our Take
The BMO eclipse Visa Infinite Privilege* Card is a premium rewards credit card offering elevated earn rates on categories such as groceries, dining, drugstore purchases, gas, and travel. Cardholders benefit from an annual lifestyle credit, Visa Airport Companion membership with complimentary lounge visits and comprehensive insurance coverage.
Eligibility
Excellent (740+)
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Pros
-
Strong welcome bonus
-
High rewards earning rate*
-
Earn more when you add supplemental cards*
-
Annual lifestyle credit of $200*
-
Mobile device insurance*
-
Extensive travel insurance*
-
Extended warranty and purchase assurance*
-
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
-
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
-
High annual fee
-
High eligibility requirements
-
The welcome bonus is not awarded immediately
-
High rewards earning rate reduces after $50,000 spend
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$599
Annual Fee
Rewards BMO Rewards
5
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
1
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
$200
Get a $200 anniversary lifestyle credit to use however you want.
Insurance Benefits
$1,000
Mobile device insurance amount
3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
Get up to 120,000 Points.*
50,000 points when you spend $6,000 in the first 3 months,
Plus, 30,000 points when you spend at least $30,000 in the first 6 months.
Receive an additional 40,000 points when you spend at least $75,000 in the first year.
*Terms and Conditions apply
If you’re a fan of saving big on restaurants and groceries, look no farther than the BMO eclipse Visa Infinite* Card. This newer card is making a big splash on Canada’s credit card scene thanks to its incredibly high accelerated earn rate categories for groceries and dining. The card gives you 5 BMO Rewards for every $1 spent on items that fall within the card’s grocery and dining categories*.
The dining and grocery categories include things like specialty food stores, fast-food restaurants, bars and even subscription food services like Hello Fresh — which pretty much covers all the food bases imaginable and is enough to satisfy even the most fervent foodie.
The BMO eclipse Visa Infinite* Card also features two more high-earn categories of gas and transit that will get you 5 BMO Rewards points per $1 spent*. The points can then be redeemed for a variety of things like merchandise, travel, gift cards, and statement credit.
Key features:
- Annual fee: $120 (Annual fee waived in the first year)*
- Welcome bonus: Get up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year - that's a $570 value in your first anniversary.*
- Highest earn rate: 5x the points for every $1 spent on groceries, gas, dining in and out and transit*
- Other perks: 10% more points when you add an authorized user to your account*.
BMO eclipse Visa Infinite pros and cons
- Strong welcome bonus
- High rewards earning rate*
- Earn more when you add supplemental cards*
- Annual lifestyle credit of $200*
- Mobile device insurance*
- Extensive travel insurance*
- Extended warranty and purchase assurance*
- Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
- Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
- High annual fee
- High eligibility requirements
- The welcome bonus is not awarded immediately
- High rewards earning rate reduces after $50,000 spend
BMO eclipse Visa Infinite disclosures:
- *Terms and conditions apply.
-
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Best rewards credit card in Canada for perks and privileges
up to 100,000 points
Welcome Bonus
$471
First Year Value
$0
Annual Value
Welcome Bonus: Earn up to 100,000 Membership Rewards® points* – that’s up to $1,000 in value.
Get this card if you...
-
are a frequent traveler who wants luxury perks like lounge access
-
want to rack up rewards quickly
-
want great travel insurance, perks and concierge services
Annual Fee & Annual Interest Rates
$799
Annual Fee
21.99% - 28.99%
Purchase
Our Take
The American Express Platinum Card® is a premium travel rewards credit card offering elevated Membership Rewards® points on eligible purchases, with a substantial welcome bonus for new cardholders. Cardholders enjoy exclusive benefits such as access to over 1,300 airport lounges worldwide through the American Express Global Lounge Collection™, comprehensive travel insurance, and personalized concierge services.
Eligibility
Excellent (740+)
Recommended Credit Score
Pros
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
-
Annual statement credits: $200 annual travel credit, $200 annual dining 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
Annual Interest Rates
21.99% - 28.99%
Purchase
30.00%
Penalty
Fees
$799
Annual Fee
2.50%
Foreign Transaction
$45
Return Penalty
Rewards Membership Rewards
2x
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
1
additional point on Amex Travel Online for eligible hotel or car rental bookings
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 100,000 Membership Rewards® points* – that’s up to $1,000 in value.
Earn 70,000 Membership Rewards® points after spending $10,000 on your Card within your first 3 months as a new Platinum® Cardmember. That’s $700 towards your next flight.
Plus, earn 30,000 points* when you make a purchase between 14 and 17 months of Cardmembership.* That’s $300 towards dinner out with friends.
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Our Take
The American Express Platinum Card® is a premium travel rewards credit card offering elevated Membership Rewards® points on eligible purchases, with a substantial welcome bonus for new cardholders. Cardholders enjoy exclusive benefits such as access to over 1,300 airport lounges worldwide through the American Express Global Lounge Collection™, comprehensive travel insurance, and personalized concierge services.
Eligibility
Excellent (740+)
Recommended Credit Score
Pros
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
-
Annual statement credits: $200 annual travel credit, $200 annual dining 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
Annual Interest Rates
21.99% - 28.99%
Purchase
30.00%
Penalty
Fees
$799
Annual Fee
2.50%
Foreign Transaction
$45
Return Penalty
Rewards Membership Rewards
2x
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
1
additional point on Amex Travel Online for eligible hotel or car rental bookings
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 100,000 Membership Rewards® points* – that’s up to $1,000 in value.
Earn 70,000 Membership Rewards® points after spending $10,000 on your Card within your first 3 months as a new Platinum® Cardmember. That’s $700 towards your next flight.
Plus, earn 30,000 points* when you make a purchase between 14 and 17 months of Cardmembership.* That’s $300 towards dinner out with friends.
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Whoa, that annual fee is high, but it's the credits, perks and privileges you get with this card that give it a spot on this page.
A bring down the annual fee substantially.
Then, you get Priority Pass access to airport lounges around the world, extensive insurance coverage, and hotel perks like status upgrades and VIP treatment at airports (like rental car insurance for cars up to $85,000) and you gotta love this card.
Key features:
- Welcome bonus: Earn up to 100,000 Membership Rewards® points* – that’s up to $1,000 in value.
- Earn rates: Earn 2X points on eligible dining and food delivery purchases in Canada, 2X points on travel from eligible flights, hotels, tours and more and 1X point on everything else. Earn 1 additional point on eligible hotel or car rental bookings at Amex Travel
- Premium perks: $100 NEXUS◊ statement credit, unlimited Priority Pass airport lounge access, $200 annual dining credit, $200 annual travel credit, premium benefits at the Toronto Pearson Airport including security bypass, complimentary valet car service and discount car care and parking.
- Insurance: Comprehensive travel and lifestyle insurance protections
The Platinum Card pros and cons
- Access to a wide range of luxury perks, including premium concierge service
- Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
- Annual statement credits: $200 annual travel credit, $200 annual dining 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).
- 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
Platinum Card disclosures:
-
Contact American Express for the most up-to-date referral bonus figures.
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. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
How do rewards credit cards work?
A rewards credit card is a type of credit card that allows you to earn cash back, travel rewards, or store rewards. The type of rewards you earn depends on the card. In addition, how many rewards you can get depends on the earning rate of the card. Some cards provide you with an increased earning rate on some categories, while others give you a flat rate regardless of where you shop.
Whenever you make an eligible purchase with a rewards credit card, you’ll earn points, miles, or cash back. Typically, non-purchases where you still use your credit card, such as cash advances, gambling sites, casinos, and lottery tickets, wouldn’t earn you any rewards. If you ever need to make a refund, the rewards you earned will be deducted from your account.
Difference between credit card perks and rewards
When considering which perks or rewards are right for you, it’s important to understand the difference first:
A perk is a benefit that’s included with your credit card, something such as access to airport lounges, status matching in a loyalty program, car rental upgrades, free nights at hotels (or fourth night free), roadside assistance, travel credits, companion flight passes.
A reward is something that you redeem a currency or certificate for through spending on a credit card: Points on groceries, free gas, award flights, hotels stays and more.
Not every merchant will take your Amex card, despite nearly 99% acceptance across Canada. Not all merchants accept all types of credit cards, so ensure you have a backup Visa or Mastercard in your wallet, just in case.
Cory Santos, Money.ca credit card expert
How to choose the best rewards credit card
When trying to choose choose the right card for you, consider your spending patterns. Your card should allow you to earn points when buying the items you would be purchasing anyway. For example, if you are a frequent traveller, then a hotel rewards card that earns extra points on hotel stays would be a smart choice. A large family would do best with a rewards card that earns points at the grocery store they shop at most frequently, while anyone who covers a lot of miles would benefit from a card that gives good rewards on gas.
| Consideration | Explenation |
|---|---|
| Assess Your Spending Habits |
• Track your monthly expenses across categories (e.g., groceries, gas, dining)
• Identify where you spend the most to maximize potential rewards • Consider seasonal spending patterns (e.g., holiday shopping, summer travel) |
| Define Your Rewards Goals |
• Determine if you prefer cash back, travel points, or merchandise rewards
• For travel rewards, decide between flexible points or airline/hotel specific programs • Consider if you want to focus on everyday rewards or save for big redemptions |
| Evaluate the Earn Rate |
• Look for cards offering higher earn rates in your top spending categories
• Compare base earn rates for non-bonus category spending • Consider cards with multipliers or accelerators for specific merchants |
| Analyze the Annual Fee |
• Weigh the annual fee against potential rewards and benefits
• Calculate if your spending and rewards will offset the fee • Consider no-fee options for lower spenders or as secondary cards |
| Assess the Welcome Bonus |
• Compare sign-up bonuses across different cards
• Ensure you can meet the minimum spend requirement within the timeframe • Calculate the value of the bonus relative to your regular spending |
| Consider Additional Perks |
• Look for travel insurance coverage (e.g., trip cancellation, medical)
• Evaluate purchase protection and extended warranty benefits • Consider lifestyle perks like airport lounge access or concierge services |
| Check Redemption Flexibility |
• Understand the redemption options available (e.g., statement credits, travel bookings)
• Look for cards with no blackout dates or seat restrictions for travel redemptions • Consider if points can be transferred to other loyalty programs |
| Evaluate Point Values |
• Research the average value per point across different redemption options
• Consider cards with points that maintain consistent value regardless of redemption choice • Look for opportunities to maximize point values through promotions or transfers |
| Consider Your Credit Score |
• Check if you meet the card’s credit score requirements
• Look for pre-approval options to avoid hard credit checks • Consider secured or entry-level rewards cards if building credit |
| Review Foreign Transaction Fees |
• For frequent travelers, prioritize cards with no foreign transaction fees
• Calculate potential savings on international purchases • Consider pairing a no-FX fee card with a high-earning domestic card |
| Assess Ease of Use |
• Look for user-friendly online interfaces and mobile apps
• Consider if the card integrates with your preferred budgeting tools • Evaluate customer service options and reputation |
What credit score do you need to get a rewards credit card in Canada?
In most cases, your credit score will need to range from fair to excellent in order to get approved for a rewards credit card. The exact range this needs to fall into will highly depend on the card issuer. In Canada, a fair credit score begins at a base rating of 575 and extends to 650, while a credit score of 760 and above is generally considered to be excellent.
It’s important to remember that applying for a credit card can hurt your credit score initially — but only temporarily. Every time you apply for a new credit card, your credit score drops by 5 points or less. While this may seem like a lot, a newly opened credit card won’t hurt your score as much as a missed or defaulted payment, and its effect on your credit score will wear off after one year. As long as you have not applied for several new credit cards in a short period of time, a credit card application should have minimal negative impact on your ability to receive additional credit in the fu
Image by toptop54 from Pixabay
How to earn credit card rewards
Once you have a rewards credit card, you’ll earn purchases on eligible purchases. That said, some categories may earn you additional points. For example, some credit cards offer you an increased earning rate on groceries and gas. When applying for a rewards credit card, try to pick a program where you find the rewards useful. In addition, see if there’s a card that gives you an increased earning rate where you typically spend more money.
It’s worth noting that some rewards programs are partnered with specific retailers. If you scan your rewards card and then pay with your rewards credit card, you can double dip, meaning you get rewards points from the retailer as well as the credit card company for your purchase.
How to redeem credit card rewards
Every rewards program is different, so you really need to do some research to know what your redemption options are. For example, with the American Express Membership Rewards program, you can redeem 1,000 points for a $10 statement credit. With Aeroplan, Air Canada’s loyalty program, you can redeem your points for any seat available on Air Canada.
When it comes to cash back programs, there are a few things to be aware of. First, some programs have a minimum amount of cash back you need to have earned before you can redeem it. While some cash back programs allow you to redeem your cash back at any time, others only pay out once per year.
Regardless, most programs allow you to redeem your rewards online or through the mobile app. Keep in mind that most rewards programs have an expiration date, and, if there’s no account activity after 12 - 24 months, you may lose all the points or miles you’ve accumulated.
There are multiple types of rewards credit cards in Canada. In addition, each individual loyalty program may also have multiple credit cards. Since every rewards program and loyalty program is different, it may require some research to figure out which card is best for you. Generally, cards with a higher annual fee and income requirement typically have better benefits. If you’re not sure what credit card you should get, take a look at the type of rewards first.
Cash back credit cards
Cash back is the easiest type of reward to understand. When paying with a cash back credit card, you’ll earn a set percentage back depending on where you’re shopping. While earning cash back is simple, redeeming your rewards differs for each program. Some pay out at any time, monthly, or yearly. Sometimes, you may also need a minimum amount of cash back earned before you can cash it out. Learn more in our cash back vs. rewards credit cards guide.
General rewards credit cards
Every major financial institution has general rewards credit cards. Instead of being tied to one specific loyalty program, you’d be earning points tied to your credit card provider that can be used on various items, such as travel, gift cards, merchandise, and more. Having flexible rewards is great, but be aware that every redemption option will have a different value. Generally, using your points for travel booked through your bank’s travel portal will get you the best return.
Airline rewards credit cards
Airline credit cards are tied to a specific credit card. Both Air Canada and WestJet have multiple co-branded credit cards. The higher the tier, the better the benefits. For example, you could get free checked luggage, priority boarding, lounge access and more. Many people prefer airline credit cards since it allows them to fly for less, and the included benefits could let them save money. Note that some general travel rewards programs have airline transfer partners, so they’re indirectly airline rewards credit cards too.
Hotel rewards credit cards
Hotel rewards credit cards are tied to a specific hotel chain, such as Marriott. These types of credit card rewards can be valuable since you earn points that can be used for free stays. Some typical benefits that are included with hotel credit cards are an enhanced earn rate during stays, hotel status upgrades, status qualifying nights and more. There are even some hotel credit cards that give you a free annual night stay.
Travel rewards credit cards
Some people think that credit cards with access to the best travel rewards programs are the same as general rewards cards. While both allow you to redeem your points for travel, gift cards, merchandise and more, there tends to be a few minor differences. Generally speaking, travel rewards credit cards give you an increased earning rate when redeeming your points or miles for travel. You’ll also get more value out of your points when redeeming them for travel through their travel portal.
Store rewards credit cards
As the name implies, store rewards credit cards are tied to a specific retailer. Some people don’t think store reward credit cards are valuable, but they can be if you shop there regularly. In addition, some store loyalty programs are tied to their co-branded credit cards. That means you can’t earn rewards unless you have the card. If you’re considering a store rewards credit card, think about how often you shop at the retailer and how the rewards program works. For example, a grocery store rewards credit card could be useful, whereas one tied to a specific online retailer may not be as valuable.
Gas rewards credit cards
Canada does not have a credit card that’s tied to a specific gas station. That said, multiple credit cards are partnered with specific gas station chains. If you pay with a partnered credit card, you can either save at the pump or earn extra points. Even though there are no specific gas rewards credit cards in Canada, you can still earn many points at gas stations with the right credit card. To learn more read our best gas credit cards guide.
Most popular credit card rewards programs
There are many different credit card rewards programs, and some are naturally better than others. While some people may default to the program offered by their bank, it’s worth getting to know the most popular credit card rewards programs as they can give you more value.
Pros and cons of points and rewards credit cards
- Welcome bonuses: Many cards offer substantial sign-up bonuses, giving you a head start on rewards
- Perks: Some cards may come with premium travel perks like lounge access, free bags on flights, insurance or more
- Insurance: Rewards cards may provide ravel insurance coverage (e.g., trip cancellation, medical emergency), purchase protection, mobile device coverage and more
- Annual fees: Many rewards cards charge annual fees, sometimes $100+ for the very best offers
- Interest rates: Reward credit cards feature higher interest rates vs. non-reward cards, meaning you'll pay more if you carry a balance
- Complexity: Some rewards programs have complicated earning and redemption structures
Top tip: Analyze your typical spend
Analyze your spending patterns and select a card that offers the highest rewards in your top spending categories. For example, if you're a frequent traveller, a travel rewards card like the American Express Cobalt® Card might be ideal.
Summary of picks
| Credit card | Fast facts | Get started |
|---|---|---|
| TD® Aeroplan® Visa Infinite Privilege* Card |
Welcome bonus: Earn up to $3,000 in value† including up to 85,000 Aeroplan points†. Conditions Apply. Offer effective as of January 7, 2025.
Annual fee: $599 |
Apply now |
| American Express® Aeroplan® Reserve Card |
Welcome bonus: Earn up to 85,000 Welcome Bonus Aeroplan®* points.
Annual fee: $599 |
Apply now |
| American Express Cobalt® Card |
Welcome bonus:Earn up to 15,000 Welcome Bonus Membership Rewards® points* – that’s up to $150 in value.
Annual fee: $155.88 ($$12.99/month) |
Apply now |
| MBNA Rewards Platinum Plus® Mastercard® |
Welcome bonus: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. Plus, earn up to 10,000 bonus points†.
Annual fee: $0 |
Apply now |
| PC® Financial World Elite Mastercard® |
Welcome bonus: n/a
Annual fee: $0 |
Apply now |
| Scotiabank Gold American Express® Card |
Welcome bonus: Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.
Annual fee: $120 |
Apply now |
| BMO eclipse Visa Infinite* Card |
Welcome bonus: Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.
Annual fee: $120 (Annual fee waived in the first year) |
Apply now |
| American Express The Platinum |
Welcome bonus: Earn up to 100,000 Membership Rewards® points* – that’s up to $1,000 in value.
Annual fee: $799 |
Apply now |
Are rewards credit cards worth it?
If you always pay your bills on time and in full, then rewards credit cards are always worth it. You’re essentially being rewarded for spending. Plus, many rewards credit cards come with additional benefits, such as travel insurance, airport lounge access, and extended warranty, that could help you save.
FAQs about rewards credit cards
Sources
Barry Choi is a Toronto-based personal finance and travel expert who makes frequent media appearances. When he's not educating people on how to be smarter with money, he's earning and burning miles and points for luxury travel.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
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