Best store credit cards in Canada

There’s a good chance you’re already collecting PC Optimum™ points; using the PC^® Mastercard^® can supercharge the number of points you earn. Combined with the PC Optimum™ program cardholders can get a total of up to 25 points per $1 spent on eligible purchases at Shoppers Drug Mart and Pharmaprix; at least 2c per litre in PC Optimum points at Esso and Mobil in Canada; 30 points per $1 when purchasing travel through President’s Choice; and 10 points per $1 spent on all other purchases.

Why the PC Mastercard is great for shopping:

• No annual fee: It’s cheaper than a loonie toss at the local fair! This card lets you keep more loonies and toonies in your pocket than a ticket-taker at the Calgary Stampede.
• No income requirement: It’s more inclusive than a Canada Day party! Whether you’re a student surviving on ramen or a retiree living the cottage life, this card welcomes you with open arms.
• PC Optimum points: It’s like having a points-printing machine in your wallet! Earn points faster than a Zamboni clears the ice, especially at Shoppers Drug Mart and Esso stations.
• Widely accepted: Use it anywhere Mastercard is accepted, which is more places than you can find a Tim Hortons in Toronto (and that’s saying something!).
• Purchase assurance and extended warranty: It’s got your back like a good hockey defenseman, protecting your purchases and extending warranties.

PC credit card comparison

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.

The CIBC Costco Mastercard® itself doesn’t carry an annual fee, but you do need to be a Costco member to sign up. A basic Gold Star membership costs $60 annually (check out our guide to whether or not a Costco membership is worth the cost).

The best part of the CIBC Costco Mastercard® is the high amount of cash back you can earn on Costco Gas and purchases made on Costco.ca, but there’s a catch: These high rates are capped at a maximum annual spend. The 3% cash back at Costco Gas and 2% at other gas stations is capped at $5,000 in spending per year. You’ll earn 2% cash back from Costco.ca up to $8,000 spent per year. Once you max out, the rate will drop to 1% for each of those categories until a new year resets. On the plus side, there is no cap on the 3% cash back on restaurants, and all other purchases outside those special categories earn 1% cash back.

Redeeming your cash back is simple but not particularly flexible. A Costco Canada gift certificate is issued once a year in January, equal to the amount you earned back from your card in the previous year.

The CIBC Costco Mastercard® offers standard Purchase Security and Extended Warranty insurance, but also includes the unexpected perk of up to $1,000 in Mobile Device Insurance, which is a rarity for a credit card without an annual fee.

• Additional perks: Purchase Security for 90 days; Extended Warranty for up to one year; Mobile device insurance up to $1,000
  

Disclosures:

• Any opinions, analyses, reviews, or recommendations expressed on this page are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertising partners.

• †Terms and Conditions Apply. This offer is not available for residents of Quebec.
• The information for the CIBC Costco Mastercard® has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

The Walmart Rewards^TM Mastercard^® earns a respectable 1.25% back on all Walmart purchases made in-store or online at Walmart.ca and 2% cash back on all other purchases. Walmart Reward Dollars are simple to use – 1 Walmart Reward dollar equals $1 to spend on virtually anything that Walmart sells – and they can be redeemed in $5 increments online or at the register in any Walmart store across Canada.

The card is an accessible option for frugal shoppers, and signing up is incentivized via a respectable welcome offer.

Unfortunately, the Walmart Mastercard doesn’t offer much in terms of other practical benefits. They’ve opted to reserve standard perks like purchase assurance and extended warranty for the higher-tier Walmart RewardsTM World Mastercard®. 

Walmart credit card comparison

The Amazon.ca Rewards Mastercard from MBNA is an excellent option if you already have an Amazon Prime membership.

This card comes with a great welcome offer. Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for the first 6 months† ($3,000 total spending cap).

After the welcome period ends Prime members can earn 2.5% back on eligible purchases from Amazon.ca, Whole Foods and on foreign currency transactions. Non-Amazon Prime members only get 1.5% back on Amazon.ca and Whole Foods purchases. All cardholders, regardless of whether or not they have a Prime membership, get 1% back on all other purchases outside those categories. Any rewards you rack up using the card can be applied directly to purchases on Amazon.ca.

For a credit card with no annual fee, the Amazon.ca Rewards Mastercard doesn’t skimp on useful perks. Purchase assurance will cover your purchases from damage or theft for 90 days and the extended warranty will add one year of coverage in addition to the original manufacturer’s warranty. You can also enjoy a minimum 10% off base rental car rates in Canada and at least 5% off rental rates in the U.S. at participating Avis and Budget locations. All told, the Amazon.ca Mastercard is among  the very best credit cards for online shopping in Canada today.

• Additional perks: Purchase assurance for 90 days; Extended Warranty for up to one year; rental car discounts.
  

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.

The Hudson’s Bay Mastercard^® is the oldest North American company's most recent offering. The Bay gives 15% off first-day purchases when you sign up for the no annual fee store card. You earn up to 4 Hudson’s Bay Rewards points on every dollar spent on purchases made in-store and on thebay.com, and 2 points per dollar spent outside The Bay. The  Hudson Bay credit card is issued by Neo Financial, so on top of the points you earn from your regular spending with the card, you can also earn extra cash back from thousands of Neo partners across Canada. Check out our review of Neo Financial to learn more about Neo’s partners.

This rewards program takes a bit to unpack, because the points you earn depend on an annual spend that resets each year. For the basic Hudson’s Bay Rewards tier, cardholders collect 2 points for every dollar spent from $0-$399.99. At the middle Hudson’s Bay Reward Plus tier, you collect 3 points per dollar spent between $400 and $1,199.99. At the top Hudson’s Bay Rewards VIP tier, you collect 4 points per dollar when you spend $1,200+ per year.

Every 1,000 Hudson’s Bay Rewards points can be redeemed for $5 in store and online. Points can also be converted to AIR MILES or RBC Rewards points for some added flexibility, but points expire after 24 months of account inactivity. Any cash back you earn through Neo partners can be redeemed toward your card balance. As for perks, you can enjoy savings from free shipping on items sold by Hudson’s Bay (no purchase minimums) and earn an extra 20% on both Hudson’s Bay Reward points and Petro-Points if you link your two accounts together.

The Tims® Mastercard from Neo is like the Swiss Army knife of Canadian credit cards - versatile, reliable, and oh-so-Canadian. It’s perfect for anyone who treats Tim Hortons like their second home (no judgment here, we’ve all been there).

The Tims credit card from Neo earns its best rewards with the popular Canadian donut giant, earning 15 points per $1 at Tim Hortons® restaurants when you scan for Tims® Rewards. Beyond Tims, however, the card also earns everyday rewards outside of your donut, coffee or other sweet treats:

• Earn 5 points per $1 spent on groceries, gas, and transit
• Earn 1 point per $2 spent on all other purchases

There's even a gift card welcome bonus that can get you some free treats just by making a first purchase with the Tims Mastercard. 

Other features of the card include:

• Free Tims Rewards membership: Automatically enrolled in Tims Rewards. It’s like getting VIP access to the hockey arena, but for coffee.
• Widely accepted: Use it anywhere Mastercard is accepted, which is more places than you can find a Tim Hortons in Toronto (and that’s saying something!).
• Purchase assurance and extended warranty: It’s got your back like a good hockey defenseman, protecting your purchases and extending warranties.

Disclosures:

• Conditions Apply

  The Tims® Mastercard is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated. Mastercard and the circles design is a trademark of Mastercard International Inc. Tims Financial is a registered trademark of Tim Hortons Canada.

The Secured Tims Mastercard is an excellent option for Canadians looking to establish or rebuild their credit history. This card offers a unique opportunity to enjoy the benefits of a rewards credit card while working on improving one's credit score. Unlike traditional credit cards, the Secured Tims Mastercard requires a security deposit (minimum of at least $50 deposit required), which becomes the credit limit. This makes it an accessible options to Canadians with limited or poor credit history, as the deposit mitigates the risk for the issuer.

One of the key advantages of the Secured Tims Mastercard is that it reports to major credit bureaus regularly. This reporting is crucial for building a positive credit history, as consistent, on-time payments are recorded and can help improve the cardholder's credit score over time.

Additionally, the card offers the same rewards program as the standard Tims Mastercard, allowing users to earn Tims Rewards points on their purchases:

• Earn 12 points per $1 at Tim Hortons restaurants when you scan for Tims Rewards
• Earn 2 points per $1 spent on groceries, gas, and transit
• Earn 1 point per $4 spent on all other purchases

Moreover, the Secured Tims Mastercard comes with no annual fee, making it a cost-effective option for those on a tight budget. As cardholders demonstrate responsible credit use, they may become eligible for a higher credit limit or even transition to an unsecured credit card in the future.

Disclosures:

• Conditions Apply

  The Tims® Mastercard is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated.

With the Canadian Tire Triangle credit card, you're earning 4% back in CT Money at Canadian Tire and its family of stores. We're talking Sport Chek, Mark's, Atmosphere – it's like a shopping spree waiting to happen!

But the card isn't just a one-trick pony. It's got moves at the pump too. You'll be saving 5¢ per litre in CT Money at Gas+ and participating Husky stations. Plus there's the rewards on other purchases:

• Earn 1.5% cash back at grocery stores (up to $12,000 per year)
• Earn 0.5% back everywhere else you shop

For a card with no annual fee, the Triangle Rewards Mastercard doesn't provide the most comprehensive insurance out there, but you can still expect purchase protection and extended warranty coverage. But there is promotional financing or 24 months on purchases of $150 or more at participating Canadian Tire partner brands.

Canadian Tire credit card comparison

Store credit cards are a unique type of credit card that lets you make purchases at your favorite brands while earning rewards, paying back the purchase amount over time, or both. Store cards are like that friend who only wants to hang out at one place. They’re typically tied to a single store or chain (think Canadian Tire or Hudson’s Bay). Here’s what makes them unique:

• Usually only usable at the issuing store or its affiliates
• Often come with juicy discounts and perks specific to that store
• Might have lower credit requirements (easier to get approved)
• Interest rates higher than a moose on stilts (seriously, watch out for these!)

Closed loop vs open loop credit cards

Store cards are similar to, but different than retail credit cards. Retail cards are  typically usable anywhere the card network (Visa, Mastercard, etc.) is accepted, whereas a store card can only be used at that particular store or brands. This is known as a "closed-loop credit card," as opposed to an "open-loop credit card," which bears the Visa, Mastercard or Amex network name. 

Canadians are spending some serious money at Canada's biggest retail giants. Whether it's for their weekly grocery haul or a year's supply of maple syrup, these stores are where a big chunk of Canadian wallets are being emptied.

Here's the annual sending with Canada's biggest retailers as of 2023:

Dunnhumby's Canadian Retailer Preference Index

Before you hit the  "Apply Now" button on that next card make sure you consider the following things:

1. 1 Interest rates: While the average credit card in Canada sports an interest rate of around 20%, retail credit cards often push that envelope even further. We're talking rates that can soar up to 29.99% in some cases.  Before you're lured in by that "10% off your first purchase" offer, make sure you're prepared to pay off that balance in full each month. Otherwise, you might find yourself in a financial mess that's hard to escape.
2. 2 Rewards: Look for cards that offer more than just points at a single retailer. The best store cards will give you a reason to whip them out even when you're not at their storefront. Think cash back on groceries, gas, or even that late-night snack runs.
3. 3 Usability: Store credit cards often come with a catch – they're usually only good at that specific store or family of stores. Before you commit, ask yourself: How often do you actually shop at this store?
4. 4 Sign-up bonuses: "Get 20% off your purchase today when you sign up!" Sounds tempting, right? But before you jump on that deal, do the math. If you're making a big purchase, that discount could be sweet. But if you're just buying a pair of socks, is it worth the hard credit inquiry and the temptation of future spending?
5. 5 Annual fees: Most store credit cards in Canada skip the annual fee, but always double-check. Some premium retail cards might try to sneak in a fee, justifying it with extra perks.
6. 6 Fine print: Look out for things like deferred interest promotions that can backfire if you don't pay off the balance in time, or rewards that expire.