Best credit cards in Canada

The American Express Cobalt® Card has once again claimed its throne as our best overall credit card. As a consistent top performer, this powerhouse outshines the competition by offering unmatched value across the categories where Canadians spend the most.

• Perfect 5/5 Rating: The Cobalt is the only card in our extensive review process to achieve a perfect score, proving its exceptional value across every metric we track.
• Robust rewards on dining, groceries and streaming: Earn between 3-5x points on these categories, helping you maximize rewards with one of the highest earn rates in Canada.
• Bonus points on gas, EV charging and travel: 2x points on flights, hotels, car rentals, and even daily transit costs, plus gas and charging for EVs.
• Accessible monthly fee structure: Rather than charging the full $191.88 annual fee upfront, the $15.99/month (Equals $191.88 annually) for non-Quebec residents. $191.88/year for Quebec residents. membership fee makes this premium card more accessible for Canadians and easier to budget for throughout the year.
• Versatility of the Membership Rewards program: Transfer points to multiple airline and hotel partners, book travel through Amex Travel, or redeem them for statement credits and gift cards.
• Comprehensive insurance: The Cobalt has you covered whether at home or abroad, thanks to comprehensive travel insurance, medical coverage and even mobile device insurance.

Put simply, whether you're a frequent traveler or a homebody who loves great takeout, the Amex Cobalt is perfect for those with varied spending habits; in other words, most people.

Amex Cobalt 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.

When it comes to everyday value and store-focused loyalty programs, the PC® Mastercard® stands head and shoulders above the competition. We've selected it as our best rewards credit card, and for good reason:

• Proven popularity: The PC® Mastercard® emerged as a frontrunner in our Canada’s most popular credit cards study, confirming what we already knew — Canadians love this card for its practical rewards.
• Unbeatable grocery value: This card scores the highest in our proprietary Grocery Score, thanks to the impressive points earned at Loblaws banner stores, including No Frills, Real Canadian Superstore, and Shoppers Drug Mart.
• No annual fee: Unlike many rewards cards that charge for the privilege of earning points, the PC® Mastercard® delivers exceptional value with absolutely no annual fee.
• Tiered card options: As your credit score and income grow, easily upgrade to the PC® World Mastercard® or PC® World Elite Mastercard® for enhanced earn rates and additional benefits.

We recommend the PC® Mastercard® for Canadians who regularly shop at Loblaws banner stores. The combination of strong earn rates at popular Canadian retailers and the flexible PC Optimum rewards program makes this card an exceptional choice for practical, budget-conscious Canadians. 

PC® Mastercard® 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 BMO CashBack® World Elite®* Mastercard®* is a powerhouse that combines high earn rates, flexible redemption, and premium perks. It remains the ultimate choice for Canadians who want the simplicity of "cash is king" without sacrificing elite benefits:

• Cash back juggernaut: The CashBack World Elite offers some of the most competitive cash back rates in Canada, delivering top-notch value across multiple spending categories that matter most to Canadian households.
• Big cash back welcome bonus: Get up to $650 in value including $40 cash back each month in your first year. Plus get the $120 annual fee waived in the first year.†
• Category domination: After winning our best gas credit card and best groceries credit card last year, this versatile card has retained its grocery crown again —a testament to its impressive value-for-money.
• Consistent excellence: Last year's runner-up has now claimed the top spot as best cash back credit card.
• Premium cash back in key categories: Get 5% cash back on groceries, 4% cash back on transit, including ride sharing, taxis, and public transportation, 3% cash back on gas and EV charging, 2% cash back on recurring bills and 1% cash back on all other purchases.
• Flexible redemption options: Unlike some cash back programs that make you wait for annual payouts, BMO lets you redeem your cash back whenever you want, with no minimum redemption amount.
• Comprehensive insurance: Unlike some other cash back cards, the CashBack World Elite provides a suite of impressive insurance protections, including travel accident insurance, baggage/flight delay, extended warranty and more.

The combination of category-leading earn rates, an impressive welcome bonus, and flexible redemption options makes The BMO CashBack World Elite the cash back king and an outstanding choice for those who prefer the simplicity and versatility of cash back rewards.

BMO CashBack® World Elite®* Mastercard® 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.

For the second consecutive year, the MBNA True Line Mastercard earns our best balance transfer spot. If you're looking to consolidate debt and save on interest charges, you've found the most effective tool for the job. Here’s why:

• Unbeatable 0%introductory APR offer: Enjoy 0% APR for 12 months on balance transfers completed within 90 days of account opening, giving you a genuine interest-free year to make significant progress on debt repayment.
• Exclusive from the Big 5: The MBNA True Line Mastercard stands alone as the only card from the Big 5 banks offering 12 months of 0% balance transfer promotion for this duration.
• Reasonable rate afterwards: After the promotional period ends, the 12.99% APR remains competitive compared to typical credit card interest rates of 19.99% or higher.

How much can the True Line save you?

Here's how much you could save if you transfer a $5,000 balance from a card with 19.99% interest to the True Line Mastercard:

• With your old card: If you made a $416.67 monthly payment, you could repay your balance over 14 months, paying $548.24 in interest.
• With the MBNA True Line: You'd pay $0 in interest during the promotional period. And if you made that same $416.67 payment you’d pay off the $5,000 in 12 months — with zero interest charges.

By focusing all your payments on principal reduction during those 12 months, you could potentially pay off the entire balance and save $548.24 in interest charges.

MBNA True Line Mastercard 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 BMO eclipse rise Visa* was launched too late to make our list last year, but it’s made up for lost time by storming to the top spot as the best no annual fee credit card. That’s because the eclipse rise Visa delivers an impressive combination of high-value rewards and money-saving features without charging a penny in annual fees:

• No annual fee and a balance transfer promo: Take advantage of an exceptional 0.99% for 9 months with a 2% fee on balance transfers, making this an excellent option for anyone consolidating debt while also looking to earning rewards.
• Impressive earn rates: Earn 5 BMO Rewards points for every $2 spent on recurring bills, groceries, dining and takeout. That’s a selection of categories that represent a significant portion of most Canadians' monthly spending.
• Fuel savings: Save up to 7 cents per litre on gas at Shell stations, offering even more ways to save.
• Mobile device insurance: The BMO eclipse rise Visa* is one of the few no fee cards that offers mobile phone or device coverage at no extra charge.

BMO eclipse rise Visa disclosures:

• 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. 
  
  

  
  

The MBNA True Line® Gold Mastercard® retains its crown as our best low interest rate credit card for the second consecutive year. When it comes to keeping interest costs down, the True Line Gold continues to set the standard that other issuers simply can't match:

• Market-leading purchase APR: The 10.99% APR on purchases stands as the lowest rate available among major Canadian financial institutions, providing substantial savings for cardholders who occasionally carry balances.
• A competitive balance transfer rate, too: With a 13.99% APR on balance transfers, this card offers an excellent long-term solution for debt consolidation after promotional offers expire.
• Peace of mind: The permanently low interest rate means you won't face sudden rate increases or promotional period expirations that could throw off your financial planning.
• Low annual fee: The modest annual fee is easily offset by interest savings for anyone who carries even small balances throughout the year.

How much could you save with the True Line Gold?

Let's compare carrying a $3,000 balance for 6 months with minimum payments of 2% ($60 to start):

• Traditional credit card: At an average APR of 19.99%, over 6 months you’d pay $277.31, with a remaining balance of $2,849.82
• MBNA True Line Gold: With the card’s low 10.99% APR you’d pay $157.29 in interest over 6 months, with a remaining balance of $2,729.80.

With the True Line Gold, you’d save a total of 240.04 ($120.02 in interest plus $120.02 in extra principal)

MBNA True Line Gold Mastercard 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 Scotiabank Gold American Express® wins our top spot for delivering exceptional value for Canadian foodies and entertainment enthusiasts alike. Here’s how:

• Impressive 1st-year value: Enjoy an estimated $1,582 in first-year value, including a substantial $850 welcome bonus that puts real rewards in your pocket from the start
• No FTX fees: Dine internationally without the typical 2.5% foreign transaction fees charged by most Canadian credit cards. This is a significant savings for travellers and those who enjoy international cuisine
• Flexibility of Scene+ Rewards: Scene+ points offer greater real-world value and flexibility for Canadians compared to many travel rewards programs, with easy redemptions at restaurants, cinemas and retailers nationwide
• Exceptional dining earn rate: Earn 5x Scene+ points for every $1 you spend on dining, food delivery, food subscriptions, other eligible grocery stores, and eligible entertainment purposes, making this card particularly valuable for those who entertain frequently or host dinner parties

Scotiabank Gold American Express® disclosures:

• Rates, fees and other information are effective as of January 3, 2025. Subject to change.

• 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.

While you might expect the PC World Elite Mastercard (great for Loblaws, No Frills, Shoppers Drug Mart) or the Scotiabank Scene+ Visa card with rewards at FreshCo and Sobeys, the fact is, it's hard to beat the right 5% cash back on groceries with the premium BMO CashBack® World Elite®* Mastercard®* .

• Category champion: For the second year running, this card maintains its position as the best option for grocery shoppers.
• Superior acceptance across Canadian supermarkets: With Mastercard enjoying the highest grocery acceptance score in our proprietary ranking system, the BMO CashBack World Elite offers bonus rewards at more grocery stores than others, ensuring you maximize earnings regardless of where you shop.
• Impressive grocery cash back: Earn 5% cash back on groceries, significantly outperforming most competing cards in this essential spending category.
• Premium insurance package: Unlike many cash back cards that skimp on insurance benefits, the BMO CashBack® World Elite®* Mastercard®* includes comprehensive coverage typically reserved for travel rewards cards.
• Flexible redemption options: Cash out your grocery rewards whenever you want with no minimum redemption threshold, putting you in control of when and how you use your earnings.

BMO CashBack® World Elite®* Mastercard®* 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.

In a surprising shift from last year's results, the BMO CashBack® Mastercard®* has dethroned its premium sibling to claim our top gas credit card award. While the BMO CashBack® World Elite®* Mastercard®* won this category last year with its 5% cash back on gas, we've determined that the no-fee version actually delivers superior overall value for most Canadians.

• No annual fee: Unlike the premium World Elite counterpart, this card costs nothing to hold, meaning every dollar of cash back you earn is pure savings, with no need to offset a yearly fee.
• Competitive cash back on gas: Earn a solid 3% cash back on all gas and EV charging purchases. While it's less than what the premium-version provides, that card also charges a $120 annual fee.
• Exceptional balance transfer offer: Get 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee.§§ Making this card a dual-purpose financial tool that helps you save on interest while earning rewards.
• No minimum income requirement: Unlike the World Elite version, this card is accessible to a wider range of Canadians without strict income thresholds.
• Flexible redemption options: Just like the premium version, you can redeem your cash back into a BMO account or as a statement credit for as little as $1. 

BMO CashBack® Mastercard® 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.

When it comes to travel rewards cards, the CIBC Aeroplan® Visa Infinite* Card stands head and shoulders above the competition. Another repeat winner, this impressive travel card provides an exceptional combination of generous rewards, premium travel perks and outstanding overall value for Canadian travellers:

• Exceptional 1st-year value: Enjoy an impressive $1,646 in first-year value through welcome bonuses, statement credits, and ongoing rewards, making this one of the most valuable travel cards on the market.
• Reasonable annual fee: The manageable $139 annual fee strikes the perfect balance between premium benefits and cost-effectiveness, and can be completely waived if you hold a CIBC Smart Plus account. Plus, new accounts get a one-time annual fee rebate ($139) for the primary cardholder and up to three authorized users ($50 each)†
• Enhanced earn rates: Earn 1.5x Aeroplan points on a wide range of everyday spending categories, including gas, groceries, and Air Canada travel purchases, turning your regular expenses into your next vacation.
• Premium baggage benefits: Save significantly on travel costs with a free first checked bag for you and up to 8 companions on the same reservation when flying Air Canada. This benefit alone can offer potential savings of hundreds of dollars on a single round trip.
• Unmatched redemption flexibility: Aeroplan is one of Canada’s most versatile travel rewards programs. Redeem your points for flights on Air Canada and over 45 partner airlines worldwide, with no cash surcharges on Air Canada flight rewards.
• Travel insurance: Enjoy comprehensive travel protection including trip cancellation/interruption insurance, flight delay, baggage, auto rental collision/loss, and travel medical coverage.
• Maple Leaf lounge access: Receive complimentary Maple Leaf Lounge access when traveling on Air Canada, plus additional lounge privileges through your Visa benefits.

CIBC Aeroplan® Visa Infinite* Card disclosures:

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

It's the welcome bonus: Earn up to $3,000 in value† including up to 85,000 Aeroplan points† could be yours. Conditions Apply. 

But there's more to the TD Aeroplan VIP Card than just a huge welcome bonus and $3,067 in first-year value:

• Premium travel perks: Enjoy NEXUS application fee credits and comprehensive lounge access, including Maple Leaf Lounges and Priority Pass memberships.
• An Air Canada aficionado's dream: Get the full VIP treatment at the airport with priority check-in, priority boarding, and priority baggage handling, making this card essential for frequent Air Canada flyers.
• Flexible redemption options: You don't have to just redeem your points for flights. While you can book any available seat on Air Canada with no blackout dates, you can also redeem points for hotel stays, car rentals, and vacation packages. If you're looking for everyday redemption options, use the Aeroplan eStore to exchange points for brand-name merchandise, curated experiences, or gift cards from some of Canada’s top retailers. 
• Extensive insurance: Coverage for trip cancellation/interruption, travel accident and emergency medical coverage, mobile device coverage, hotel burglary protection, flight/baggage delay, rental car damage waiver and more.

TD® Aeroplan® Visa Infinite Privilege* disclosures:

• †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.

For the second year running, the RBC ION+ Visa has claimed our top spot as the best student credit card in Canada. The card continues to deliver exceptional value, specially tailored to student lifestyles and spending habits.

• Student-friendly fee structure: The innovative fee structure (instead of a larger annual fee) makes this premium card accessible for students managing tight monthly budgets and irregular income. However, RBC offers a full annual fee rebate for students and anyone under the age of 25 with a RBC Advantage™ Banking Account, making this a high-earning card for $0 out of pocket.
• Mobile phone protection: In our opinion, this is the standout feature for student life. It includes up to $1,000 in coverage for your smartphone against accidental damage or theft, a premium benefit rarely seen on cards accessible to students.
• Student-centric earn rates: Earn an impressive 3x points on the expenses that dominate student spending, like gas, dining, groceries, rideshares and streaming services.
• No minimum income requirement: Unlike many rewards cards, students don't need to prove a specific income level to qualify for this card, making this accessible even for those with part-time jobs.
• Flexible redemptions: RBC Rewards points can be redeemed for statement credits toward any purchase, making this program particularly valuable for students who need maximum flexibility.
• Financial education resources: Access to RBC's student-focused financial literacy tools and resources helps build sound money management habits.

RBC ION+ Visa disclosures:

• Refer to RBC page for up to date offer terms and conditions.
  
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The Capital One Guaranteed Secured Mastercard® stands out as our pick for best secured credit card in Canada, offering an accessible path to building or rebuilding credit without the unnecessary costs or complications:

• No annual fee: Build or rebuild your credit without paying an annual fee, keeping this essential financial tool completely cost-free while you focus on improving your credit score.
• Low minimum security deposit: Start with a security deposit as low as $75, making this card significantly more accessible than the $500 minimum required by many major banks.
• Digital-first banking experience: As a product of Capital One Canada's digital banking platform, the card offers convenient nationwide access through intuitive online and mobile interfaces.
• Clear path to credit-building: Regular reporting to credit bureaus ensures your responsible card use positively impacts your credit score over time.

The Capital One Secured Mastercard delivers exceptional value if you're seeking a straightforward secured card without unnecessary fees or complications.

Capital One Guaranteed Secured Mastercard disclosures:

• Terms & conditions apply

The American Express® Business Gold Rewards Card has claimed our top spot as the Canadian business card because it offers a powerful combination of flexibility, rewards and premium perks specifically tailored to Canadian businesses:

• Solid welcome bonus:

  Earn a welcome bonus of up to 70,000 Membership Rewards® points in your first year. Here's how:

  • Earn 50,000 Membership Rewards® points after spending $7,500 in purchases within the first three months of Cardmembership.

    • Plus, earn an additional 20,000 points after spending $30,000 on your Card in your first 12 months of Cardmembership.

  That’s $700 in statement credits that can be reinvested in your business.

• Flexible spending power: Unlike traditional credit limits, the Amex Business Gold Card features no pre-set spending limit. As essentially a charge card, your purchasing power adjusts dynamically based on your business profile, payment history, and financial resources.
• Extended payment terms: Take advantage of up to 55 interest-free days, providing critical financial flexibility for managing business cash flow and timing payments optimally.
• Comprehensive insurance protections: Keep your employees comfortable and your business protected with an extensive insurance package, covering travel accidents, baggage loss, flight delays, hotel burglary and car rental damages.
• Cost-effective employee cards: Add employees to your account for just $50 per additional card. This allows you to centralize expenses and earn rewards on team spending while maintaining separate tracking and controls for a fraction of the cost of other premium cards.
• World-class Amex customer support: Access American Express's legendary business customer service, with dedicated representatives who understand the unique challenges and needs of Canadian entrepreneurs and business owners. 

American Express® Business Gold Rewards 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.