Here are the top credit cards in Canada for low, middle, and high income earners.
When choosing the right credit card, not only do you need to consider the most attractive card features, but you also need to determine if you qualify in the first place.
Credit card income requirements in Canada are generally broken down into three different annual earning brackets: $0-$59,999, $60,000-$79,999, and $80,000+. The cards with a higher income requirement typically come with more benefits but may also come with a higher annual fee. Here are our top credit card suggestions based on your annual income level.
Best cards by income level: low, average and high income
Card
Welcome Offer
Credit cards for low income in Canada (Less than $59,999)
If you have a low annual income, you can still find plenty of credit cards that come with comprehensive rewards programs and benefits and others just covering the basics. As long as you have a good credit score and meet the income requirement, you’ll likely qualify for one of our suggested best credit cards for low-income earners.
In Canada, the threshold for what's considered a low income for credit card eligibility is typically around $12,000 per year. This figure is often used as the minimum annual income requirement for many entry-level or no-fee credit cards. Here are our top card picks for low credit scores:
Best low income card overall
10% cash back
Welcome Bonus
$484
First Year Value
$384
Annual Value
Welcome Bonus: Earn 10% cash back for 2 months† (up to $100). Expires Apr 30, 2025
Get this card if you...
-
want flexible cash back categories
-
want unlimited cash back
-
want to avoid paying an annual fee
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 10% cash back for 2 months† (up to $100).
Our Take
The Tangerine Money-Back Credit Card is a no-annual-fee cash back card that allows cardholders to earn a higher cash back rate in two spending categories of their choice, such as groceries, gas, or restaurants, and a lower rate on all other purchases. By opening a Tangerine Savings Account and directing cash back earnings there, a third higher rate cash back category can be added. Additional benefits include purchase assurance and extended warranty protection, with cash back rewards automatically applied monthly.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
Annual Interest Rates
19.95% - 24.95%
Purchase
19.95%
Cash Advance
1.95% - 19.95%
Balance Transfer
1.95%
Balance Transfer (Introductory)
24.95%
Penalty
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
$3.5
Cash Advance
$25
Over The Limit Penalty
$25
Return Penalty
Rewards cash back
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 10% cash back for 2 months† (up to $100).
The Tangerine Money-Back Credit Card offers unusual flexibility, allowing cardholders to choose 2 merchant categories in which they will receive 2% cash back. The categories you can choose from include groceries, restaurants, gas, drug stores, recurring bill payments, and more. You can earn a third 2% category if you deposit your cash back directly into a Tangerine bank account. All other purchases will earn 0.5% cash back, and there are zero limits, caps, or tiers for this cash back program.
There is no annual fee for the Tangerine Money-Back Credit Card, but you do need an annual income of at least $12,000 to apply. Even though this credit card is classified as a low-income choice, it’s really a great cash back option for any income bracket, given the ability to tailor its money-back rewards.
Learn more by reading our Tangerine Money-Back Credit Card review.
Eligiblity requirements:
- Minimum Credit Score: Fair-Good
- Minimum Income: $12,000
Disclosures
- *Terms and Conditions apply
Best no income requirement card
100,000 PC points
Welcome Bonus
$382
First Year Value
$282
Annual Value
Welcome Bonus: Get up to 100,000 bonus PC Optimum™ points†. Expires Jun 10, 2025
Get this card if you...
-
frequently shop at Loblaw stores
-
want to accelerate your PC Optimum points
-
want to avoid paying an annual fee
Annual Fee & Annual Interest Rates
$0
Annual Fee
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Our Take
The PC® Mastercard® is a no-annual-fee credit card that allows cardholders to earn PC Optimum points on everyday purchases, with accelerated rates at Loblaw-affiliated stores, Shoppers Drug Mart, Esso, and Mobil gas stations. These points can be redeemed for groceries and merchandise at over 2,500 participating locations across Canada.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
Pros
-
No annual fee, ideal for budget-conscious shoppers
-
Earn 10 points per $1 spent everywhere
-
Accelerated points at Esso, Shoppers Drug Mart, and PC Travel
-
Points redeemable at over 2,500 stores nationwide
-
Purchase insurance and extended warranties for added protection
Cons
-
Middle-of-the-road rewards compared to other no-fee cards
-
Limited redemption options compared to some competitors
-
Requires spending at specific stores for maximum benefits
-
Point value may seem low initially, despite earning potential
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
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® Mastercard® is a no-annual-fee credit card that allows cardholders to earn PC Optimum points on everyday purchases, with accelerated rates at Loblaw-affiliated stores, Shoppers Drug Mart, Esso, and Mobil gas stations. These points can be redeemed for groceries and merchandise at over 2,500 participating locations across Canada.
Eligibility
Good (620 - 670)
Recommended Credit Score
$15,000
Required Annual Personal Income
Pros
-
No annual fee, ideal for budget-conscious shoppers
-
Earn 10 points per $1 spent everywhere
-
Accelerated points at Esso, Shoppers Drug Mart, and PC Travel
-
Points redeemable at over 2,500 stores nationwide
-
Purchase insurance and extended warranties for added protection
Cons
-
Middle-of-the-road rewards compared to other no-fee cards
-
Limited redemption options compared to some competitors
-
Requires spending at specific stores for maximum benefits
-
Point value may seem low initially, despite earning potential
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
22.97%
Balance Transfer
Fees
$0
Annual Fee
Rewards PC points
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
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†.
Another great credit card option for those in the low-income category is the PC® Mastercard®. Like the other two cards we’ve highlighted in this income bracket, the PC® Mastercard® has no annual fee and the required annual income is quite low. Despite the minimal application requirements, it’s a great credit card for those who spend a lot on gas. You can earn 30 points per $1 when purchasing travel through President’s Choice, 25 points per $1 at Shoppers Drug Mart and Pharmaprix, 2c per litre in PC Optimum points at Esso and Mobil and 10 points per $1 spent everywhere.
Learn more by reading our complete PC® Mastercard® review.
Eligibility requirements:
- Minimum Credit Score: Fair-Good
- Minimum Income: N/A
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 low income cash back card
5% cash back
Welcome Bonus
$393
First Year Value
$243
Annual Value
Welcome Bonus: Earn 5% Cash Back†† on eligible gas and grocery purchases for the first 6 months (until the total gas and grocery purchases in the applicable month reaches $500).
Get this card if you...
-
want to earn cash back on gas and groceries
-
value a no-annual-fee card that still offers strong rewards
-
want a flexible rewards program
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The MBNA Smart Cash Platinum Plus® Mastercard® is a no-annual-fee credit card that offers cash back on everyday purchases, with elevated rates for gas and groceries. Cardholders also benefit from features such as purchase assurance and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
-
Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
-
No annual fee
-
Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
-
Car rental discounts
-
MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
-
Purchase assurance and extended warranty
Cons
-
Monthly spend cap on the welcome bonus rewards earn rate
-
Limited reward categories
-
Potential fees for payment plan
-
No travel rewards or premium perks
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 cash back
2%
Cash Back‡ on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)
0.5%
Get 0.5% Cash Back‡ for all other eligible purchases
Insurance Benefits
$200,000
Rental car insurance amount
Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months†† ($500 monthly spend cap).
Our Take
The MBNA Smart Cash Platinum Plus® Mastercard® is a no-annual-fee credit card that offers cash back on everyday purchases, with elevated rates for gas and groceries. Cardholders also benefit from features such as purchase assurance and extended warranty.
Eligibility
Good (620 - 670)
Recommended Credit Score
Pros
-
Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
-
No annual fee
-
Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
-
Car rental discounts
-
MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
-
Purchase assurance and extended warranty
Cons
-
Monthly spend cap on the welcome bonus rewards earn rate
-
Limited reward categories
-
Potential fees for payment plan
-
No travel rewards or premium perks
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 cash back
2%
Cash Back‡ on eligible gas and grocery purchases thereafter (until the total gas and grocery purchases in the applicable month reaches $500)
0.5%
Get 0.5% Cash Back‡ for all other eligible purchases
Insurance Benefits
$200,000
Rental car insurance amount
Earn 5% Cash Back on eligible gas and groceries purchases for the first 6 months†† ($500 monthly spend cap).
The MBNA Smart Cash Platinum Plus® Mastercard® is a great option for those who spend a lot on gas and groceries and prefer a card with no annual fee. It features an impressive welcome offer for new cardholders. After the welcome offer ends, you’ll get 2% back on gas and groceries, up to $500 per month and 0.5% back on all other purchases.
Though it does have a somewhat confusing stratified earning structure, the MBNA Smart Cash Platinum Plus® Mastercard® offers very respectable cash back rates overall. It also features a few other basic benefits like purchase assurance, extended warranty on purchases and discounts of at least 5% at select car rental companies. Interest rates are 19.99% for purchases;24.99% for cash advances; and 22.99%✪ for balance transfers.
Eligiblity requirements:
- Minimum Credit Score: Fair/Good
- Minimum Income: N/A
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.
Dundas Life's Average income in Canada report
The average annual salary in Canada in 2024 was $67,282, an increase of 3.6% year-over-year.
Credit cards for middle annual income earners ($60,000-$79,999)
In terms of credit cards, middle-income earners are generally classified as individuals who make between $60,000- $79,999 annually or who have a combined household income of $100,000 or more. The types of credit cards that fall into this category tend to have more perks and benefits, higher welcome bonuses, and high annual fees. These are our top credit card picks for middle-income earners:
Best average income card for travel
up to 40,000 pts†
Welcome Bonus
$1,870
First Year Value
$570
Annual Value
Welcome Bonus: Earn up to $1,300 in value† including up to 40,000 Aeroplan points† and no Annual Fee for the first year†. Conditions Apply.
Get this card if you...
-
want to quickly rack up Aeroplan points
-
need comprehensive travel insurance benefits
-
value a great welcome offer
Annual Fee & Annual Interest Rates
$139
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The TD® Aeroplan® Visa Infinite* Card is a travel rewards credit card designed for frequent Air Canada travelers, offering elevated Aeroplan points on eligible gas, grocery, travel, and dining purchases. Cardholders benefit from perks such as a NEXUS application fee rebate, a 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 an annual fee and requires a minimum personal or household income for eligibility.
Eligibility
Excellent (740+)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
The card has a high earn rate for Aeroplan Points, generating 1.5 points† per $1 spent on eligible purchases.
-
Insurance offered includes coverage in the categories that travellers need, and is generally better than its Aeroplan peers at a similar annual fee level.
Cons
-
No airport lounge membership or free lounge access.
-
Aeroplan points can’t be redeemed for flights outside the Star Alliance network, nor can they be redeemed for cash credit. This makes them less flexible than some competing travel rewards programs.
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$139
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards Aeroplan
1.5 points†
for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)
1 point†
Earn 1 point for every $1 you spend on all other purchases
2x
Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.
50%
Earn 50% more Aeroplan points at Starbucks when you link your card to your account. Conditions apply.
1
partial NEXUS application fee rebate every 48 months†
1st
checked bag free for you and up to 8 travel companions†
Insurance Benefits
$1,000
Mobile device insurance amount
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $1,300 in value†, including up to 40,000 Aeroplan points†, no annual fee for the first year† and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
Earn a welcome bonus of 10,000 Aeroplan points when you make your first Purchase with your new Card†
Earn 15,000 Aeroplan points when you spend $7,500 within 180 days of Account opening†
Plus, earn a one-time anniversary bonus of 15,000 Aeroplan points when you spend $12,000 within 12 months of Account opening†
Enroll for NEXUS and once every 48 months get a partial application fee rebate†
Plus, share free first checked bags with up to 8 travel companions†
Get an annual fee rebate for the first year†.
To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening and you must add your Additional Cardholders while this offer is in effect.
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.
Our Take
The TD® Aeroplan® Visa Infinite* Card is a travel rewards credit card designed for frequent Air Canada travelers, offering elevated Aeroplan points on eligible gas, grocery, travel, and dining purchases. Cardholders benefit from perks such as a NEXUS application fee rebate, a 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 an annual fee and requires a minimum personal or household income for eligibility.
Eligibility
Excellent (740+)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
The card has a high earn rate for Aeroplan Points, generating 1.5 points† per $1 spent on eligible purchases.
-
Insurance offered includes coverage in the categories that travellers need, and is generally better than its Aeroplan peers at a similar annual fee level.
Cons
-
No airport lounge membership or free lounge access.
-
Aeroplan points can’t be redeemed for flights outside the Star Alliance network, nor can they be redeemed for cash credit. This makes them less flexible than some competing travel rewards programs.
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$139
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards Aeroplan
1.5 points†
for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)
1 point†
Earn 1 point for every $1 you spend on all other purchases
2x
Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.
50%
Earn 50% more Aeroplan points at Starbucks when you link your card to your account. Conditions apply.
1
partial NEXUS application fee rebate every 48 months†
1st
checked bag free for you and up to 8 travel companions†
Insurance Benefits
$1,000
Mobile device insurance amount
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $1,300 in value†, including up to 40,000 Aeroplan points†, no annual fee for the first year† and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
Earn a welcome bonus of 10,000 Aeroplan points when you make your first Purchase with your new Card†
Earn 15,000 Aeroplan points when you spend $7,500 within 180 days of Account opening†
Plus, earn a one-time anniversary bonus of 15,000 Aeroplan points when you spend $12,000 within 12 months of Account opening†
Enroll for NEXUS and once every 48 months get a partial application fee rebate†
Plus, share free first checked bags with up to 8 travel companions†
Get an annual fee rebate for the first year†.
To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening and you must add your Additional Cardholders while this offer is in effect.
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.
Cardholders will earn 1.5 Aeroplan points† on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)† and 1 Aeroplan point on all other purchases†. Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.†. Additional benefits and perks include a free first checked bag for cardholders and travel companions (up to eight) travelling together† (when travel originates on an Air Canada flight), Travel Medical Insurance† of up to $2M for the first 21 days (4 days if you or your spouse are 65 and over) with additional top-up coverage available†, Trip Cancellation/Trip Interruption insurance, Flight/Trip Delay Insurance† and a full suite of other great travel insurances and safeguards. If your income level meets the requirements for this card and you’re a frequent Air Canada passenger, this might just be your best companion.
Learn more by reading our complete TD® Aeroplan® Visa Infinite* Card review.
Eligibility requirements:
- Credit score required: Good-Excellent
- Minimum personal income required: $60,000
Disclosures
-
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.†Terms and conditions apply.
Best average income card for rewards
up to 15,000 points
Welcome Bonus
$630
First Year Value
$480
Annual Value
Welcome Bonus: Earn up to 15,000 Welcome Bonus Membership Rewards® points* – that’s up to $150 in value.
Get this card if you...
-
quickly rack up rewards on dining and grocery purchases
-
want a flexible rewards program with travel rewards
-
want access to exclusive events and robust travel insurance
Annual Fee & Annual Interest Rates
$155.88
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The American Express Cobalt® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$155.88
Annual Fee
2.50%
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
That’s up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The American Express Cobalt® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$155.88
Annual Fee
2.50%
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership Rewards® points* by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
That’s up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
If you love good food and enjoy dining out, then the American Express Cobalt® Card should be on your radar. The card awards 5x Membership Rewards points per $1 spent on groceries, restaurants, and food delivery. Cardholders will also earn 3x Membership Rewards points per $1 spent on streaming subscriptions; 2x points per $1 spent on eligible travel expenses, ground transit, and gas; and 1x point per $1 spent on everything else. Aside from these strong regular earn rates, the Cobalt® has competitive bonus incentives for new cardholders.
Points can be redeemed for travel, a variety of merchandise, or toward paying off your statement. The American Express Cobalt® Card doesn’t have a minimum income requirement per se, but you do need a good credit score to be approved, and there’s a fee of $155.88 ($12.99/month).
Learn more by reading our complete American Express Cobalt® Card review.
Eligiblity requirements:
- 1 Minimum Credit Score: Fair-Good
- 2 Minimum Income: N/A
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.
Best average income card for cash back
10% cash back
Welcome Bonus
$914
First Year Value
$594
Annual Value
Welcome Bonus: Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards. Expires Oct 31, 2025
Get this card if you...
-
want high cash back rates
-
value a great welcome offer
-
want comprehensive insurance benefits
Annual Fee & Annual Interest Rates
$120
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The Scotiabank Momentum® Visa Infinite* Card is a cash back credit card offering elevated earn rates on purchases in categories such as groceries, recurring bill payments, gas, and daily transit. Cardholders benefit from a competitive welcome bonus, comprehensive insurance coverage, and the potential to have the annual fee waived by bundling the card with certain Scotiabank chequing accounts.
Eligibility
Excellent (740+)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
High earn rate on everyday spending categories
-
Comprehensive travel and purchase insurance
-
Visa Infinite perks such as concierge, events, and special offers
-
25% Car rental discounts at Avis and Budget
-
Mobile device insurance
-
Up to $200 welcome bonus
Cons
-
Income requirements are higher: $60k personal or 100k household
-
Cash back can only be redeemed once a year
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$120
Annual Fee
2.50%
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards cash back
4%
For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
2%
For every $1 you spend on gas and daily transit purchases
1%
Cash back on all other purchases with no cash back limit
Insurance Benefits
$1,000
Mobile device insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.
To qualify for these offers make sure to open a new Scotiabank Momentum® Visa Infinite* credit card account by October 31, 2025.
To earn 10% cash back, make sure to use your new card to make everyday eligible purchases and earn 10% cash back on the first $2,000 you spend in your first 3 months from account opening.
Once you qualify, we’ll credit your account in 2 instalments:
Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within approximately 7 months from the account open date; and
Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program (i.e., November).
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for these offers.
See terms and conditions for full details.
Our Take
The Scotiabank Momentum® Visa Infinite* Card is a cash back credit card offering elevated earn rates on purchases in categories such as groceries, recurring bill payments, gas, and daily transit. Cardholders benefit from a competitive welcome bonus, comprehensive insurance coverage, and the potential to have the annual fee waived by bundling the card with certain Scotiabank chequing accounts.
Eligibility
Excellent (740+)
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Pros
-
High earn rate on everyday spending categories
-
Comprehensive travel and purchase insurance
-
Visa Infinite perks such as concierge, events, and special offers
-
25% Car rental discounts at Avis and Budget
-
Mobile device insurance
-
Up to $200 welcome bonus
Cons
-
Income requirements are higher: $60k personal or 100k household
-
Cash back can only be redeemed once a year
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$120
Annual Fee
2.50%
Foreign Transaction
$5
Cash Advance
$29
Over The Limit Penalty
Rewards cash back
4%
For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
2%
For every $1 you spend on gas and daily transit purchases
1%
Cash back on all other purchases with no cash back limit
Insurance Benefits
$1,000
Mobile device insurance amount
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.
To qualify for these offers make sure to open a new Scotiabank Momentum® Visa Infinite* credit card account by October 31, 2025.
To earn 10% cash back, make sure to use your new card to make everyday eligible purchases and earn 10% cash back on the first $2,000 you spend in your first 3 months from account opening.
Once you qualify, we’ll credit your account in 2 instalments:
Bonus Cash Back: The amount earned under the Cash Back Bonus Rate will be credited to your Account within approximately 7 months from the account open date; and
Regular Cash Back: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under the Program (i.e., November).
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for these offers.
See terms and conditions for full details.
Middle-income earners looking for a great cashback card will want to consider the Scotiabank Momentum® Visa Infinite* card. Earn 4% cash back for every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases. Furthermore, cardholders will earn 2% cash back on gas and daily transit (again, up to $25,000 then the earn rate changes to 1%). Any other eligible purchase will see a return of 1% cash back, with no spending limit. There is an annual fee of $120 for the Scotiabank Momentum® Visa Infinite* Card.
Eligibility requirements:
- Minimum Credit Score: Excellent
- Minimum Income: Meet a minimum annual income of $60,000 or a minimum household income of $100,000 or minimum assets under management of $250,000
Disclosures
-
Conditions Apply. Visit here for the Scotiabank Momentum® Visa Infinite* Card to learn more.
Statistics Canada's Highest Earners report
Want to join the elite? The top 1% of salary earners in Canada took home an average of $586,900 in 2022. Talk about living large!
Credit cards for high-income earners ($80,000+)
Our final category is for high-income earners who make $80,000+ annually as individuals or who have a combined annual household income of $150,000+. High-income credit cards typically come with an attractive array of benefits and tend to have higher rewards earning potential and larger welcome bonuses. Unsurprisingly, these credit cards also normally come with a hefty annual fee. However, the benefits and perks that come with premium cards can be worth the annual fee. These are our top picks for high-income level credit cards.
Best high income travel card
up to 90,000 points
Welcome Bonus
$1,072
First Year Value
$322
Annual Value
Welcome Bonus: Get up to 90,000 points and the annual fee waived on your first anniversary for both the primary cardholder and authorized users.* Expires Jun 01, 2025
Get this card if you...
-
are a high-earning globetrotter, looking for travel perks
-
value travel insurance, lounge access, and concierge services
-
appreciate a great welcome offer
Annual Fee & Annual Interest Rates
$150
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Our Take
The BMO Ascend™ World Elite®* Mastercard®* is a premium travel rewards credit card with elevated earn rates on eligible travel, dining, entertainment, and recurring bill payments. Cardholders benefit from complimentary lounge membership, which includes complimentary passes, as well as comprehensive travel insurance coverage, making it a suitable option for frequent travelers seeking both rewards and travel-related perks.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$150
Annual Fee
2.50%
Foreign Transaction
$29
Over The Limit Penalty
Rewards BMO Rewards
5x
Earn 5x the points for every $1 spent on eligible travel purchases*
3x
Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
Earn 1 point for every $1 spent everywhere else*
4
Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.
45,000 points when you spend $4,500 in the first 3 months, and 3,750 points for each subsequent month in which you make at least $2,500 in purchases on your card, for 12 months.
Offer expires June 1, 2025.
Our Take
The BMO Ascend™ World Elite®* Mastercard®* is a premium travel rewards credit card with elevated earn rates on eligible travel, dining, entertainment, and recurring bill payments. Cardholders benefit from complimentary lounge membership, which includes complimentary passes, as well as comprehensive travel insurance coverage, making it a suitable option for frequent travelers seeking both rewards and travel-related perks.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$150
Annual Fee
2.50%
Foreign Transaction
$29
Over The Limit Penalty
Rewards BMO Rewards
5x
Earn 5x the points for every $1 spent on eligible travel purchases*
3x
Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
Earn 1 point for every $1 spent everywhere else*
4
Complimentary membership in Mastercard Travel Pass provided by DragonPass, with 4 annual complimentary passes
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Get up to 90,000 points and the annual fee waived in the first year for both the primary cardholder and authorized users.
45,000 points when you spend $4,500 in the first 3 months, and 3,750 points for each subsequent month in which you make at least $2,500 in purchases on your card, for 12 months.
Offer expires June 1, 2025.
The BMO Ascend™ World Elite®* Mastercard®* is a travel rewards card with a good earn rate and strong overall value for those interested in using their points toward flights. Earn 5x the points for every $1 spent on eligible travel purchases*. Earn 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments* and 1 point for $1 spent on everything else.* These can be redeemed for travel or merchandise, put toward the card balance, or invested.
Additional perks with this credit card include a very comprehensive insurance package, free airport lounge passes per year, and purchase protection.
Learn more by reading our complete BMO Ascend™ World Elite®* Mastercard®*.
Eligibility requirements:
- Minimum Credit Score: Excellent
- Minimum Income: $80,000 personal/$150,000 household
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 no fee card for high earners
$324
First Year Value
$0
Annual Value
Get this card if you...
-
want to earn cash back with no annual fee
-
are an existing Rogers or Fido customer
-
want complimentary lounge access
Annual Fee & Annual Interest Rates
$0
Annual Fee
20.99% - 25.99%
Purchase
22.99% - 27.99%
Cash Advance
22.99% - 27.99%
Balance Transfer
Our Take
The Rogers™ World Elite® Mastercard® is a no-annual-fee credit card offering elevated cash back rates on purchases made in U.S. dollars, with a standard rate on all other eligible purchases. Cardholders benefit from comprehensive insurance coverage, including emergency medical and rental car collision/damage protection, as well as access to over 1,300 airport lounges worldwide through Mastercard Travel Pass provided by DragonPass; however, the card has a high income requirement.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
-
Lucrative cash back rates on USD and CAD purchases, especially for Rogers, Fido or Shaw customers
-
No annual fee with valuable insurance benefits
-
Competitive against foreign transaction fee cards
-
Convenient cash back redemption options
-
Redemption bonus of 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases
-
Travel insurance perks and airport lounge access
Cons
-
High income requirement: $80,000 personal or $150,000 household
-
Foreign transaction fee applies
-
Limited redemption options for statement credits
Annual Interest Rates
20.99% - 25.99%
Purchase
22.99% - 27.99%
Cash Advance
22.99% - 27.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards cash back
3%
Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.
2%
Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw
1.5%
Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.
1.5x Cash Back
Get 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases.
5
Get 5 Roam Like Home days at no cost every year for Rogers mobile plans (up to $80 value).
Insurance Benefits
$1,000,000
Emergency medical insurance amount
3
Emergency medical insurance over 65 days
$65,000
Rental car insurance amount
Our Take
The Rogers™ World Elite® Mastercard® is a no-annual-fee credit card offering elevated cash back rates on purchases made in U.S. dollars, with a standard rate on all other eligible purchases. Cardholders benefit from comprehensive insurance coverage, including emergency medical and rental car collision/damage protection, as well as access to over 1,300 airport lounges worldwide through Mastercard Travel Pass provided by DragonPass; however, the card has a high income requirement.
Eligibility
Excellent (740+)
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Pros
-
Lucrative cash back rates on USD and CAD purchases, especially for Rogers, Fido or Shaw customers
-
No annual fee with valuable insurance benefits
-
Competitive against foreign transaction fee cards
-
Convenient cash back redemption options
-
Redemption bonus of 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases
-
Travel insurance perks and airport lounge access
Cons
-
High income requirement: $80,000 personal or $150,000 household
-
Foreign transaction fee applies
-
Limited redemption options for statement credits
Annual Interest Rates
20.99% - 25.99%
Purchase
22.99% - 27.99%
Cash Advance
22.99% - 27.99%
Balance Transfer
Fees
$0
Annual Fee
2.50%
Foreign Transaction
3.00%
Balance Transfer
Rewards cash back
3%
Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.
2%
Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw
1.5%
Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.
1.5x Cash Back
Get 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases.
5
Get 5 Roam Like Home days at no cost every year for Rogers mobile plans (up to $80 value).
Insurance Benefits
$1,000,000
Emergency medical insurance amount
3
Emergency medical insurance over 65 days
$65,000
Rental car insurance amount
The Rogers™ World Elite® Mastercard® is a no-annual fee credit card that’s made a reputation for itself by offering competitive cashback rewards rates on both foreign and domestic purchases. Cardholders will receive 3% cashback rewards on U.S. dollar purchases and 1.5% cashback on all other Canadian dollar purchases. The best part? These earnings are unlimited and there are no spending caps. Anyone interested in this credit card will want to note that there is a 2.5% foreign transaction fee. However, thanks to the 3% cashback rewards on U.S. dollar purchases, some foreign purchases still come out ahead.
Learn more by reading our complete Rogers™ World Elite® Mastercard® review.
Eligibility requirements:
- Minimum Credit Score: Good-Excellent
- Minimum Income: $80,000 (personal)
Best luxury
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.
The Platinum Card® is one of the few premium cards that does not technically have a minimum income requirement. However, given its hefty annual fee of $799, we’re classifying it as a high-income card.
The Platinum Card® is a popular premium card in Canada, thanks to its many top features. These include a at some of Canada’s best restaurants, unlimited airport lounge access within The American Express Global Lounge CollectionTM (which unlocks access to over 1,400 airport lounges worldwide) as well as complimentary benefits that offer an average value of $600 USD at over 1,500 extraordinary properties worldwide when you book Fine Hotels + Resorts and comprehensive travel insurance. Cardholders earn 2X points on dining and food delivery purchases in Canada, 2X points on travel from eligible flights, hotels, tours and more and 1X point on everything else. 1 additional point on eligible hotel or car rental bookings at Amex Travel Online.
You can also transfer your points to Aeroplan at a 1:1 ratio or to Marriott Bonvoy at a 1:1.2 ratio.
Learn more by reading our complete The Platinum Card® review.
Eligibility requirements:
- 1 Credit score required: Good-Excellent
- 2 Minimum personal income required: N/A
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 to choose a credit card by income level
Choosing your perfect credit card is never an identical process for applicants and that's because different offers are designed for different credit profiles. But how do you find the right card for you based on your credit and income?
- Annual fee: Look for cards with no annual fee to minimize costs where possible. If you can't find a fee free option try not to spend more than $50 on an annual fee.
- Credit score requirements: Seek cards with lower credit score requirements or secured credit cards to build credit.
- Interest rates: Prioritize cards with lower APRs in case you need to carry a balance. Keeping your overall balance low is one of the best ways to boost your credit score in the long-term.
- Rewards on essentials: Choose cards offering cash back or points on things groceries and gas.
- Introductory APR offers: Consider cards with 0% intro APR to help manage large purchases or balance transfers.
- Balanced rewards: Seek credit cards with versatile rewards on various spending categories, including travel, groceries, gas and more.
- Annual fee vs. benefits: Weigh the annual fee against the card's perks and rewards to ensure you are getting value for money.
- Travel perks: Look for cards offering more comprehensive travel insurance, airport lounge access, statement credits and more.
- Welcome bonuses: Consider cards with attractive sign-up bonuses to maximize initial value of the card in your first year.
- Flexible award options: Choose a credit card that lets you to redeem rewards for cash, travel, or merchandise.
- Premium rewards: Focus on credit cards offering high-end rewards rates, especially for travel and luxury purchases. These cards typically carry an annual fee but offer bigger rewards than lower income options.
- Exclusive perks: Look for cards with concierge services, elite status with hotels or airlines, and exclusive event access.
- High credit limits: Many credit cards for high-income earners feature higher spending limits to accommodate larger purchases.
- Travel benefits: Prioritize cards offering comprehensive travel insurance and premium lounge access.
- Luxury partnerships: Consider cards offering special discounts or experiences with luxury brands and high-end retailers.
What's the average annual income in Canada?
Which cards are available to which income levels?
Not every credit card is available to all income types - and we don't mean just an individual cart but entire card types. For example, not all Visa or Mastercards cards are available to Canadians with lower incomes.
Visa credit cards by income type
Visa issues three types of credit cards in Canada: Visa, Visa Infinite and Visa Infinite Privilege. Visa Infinite and Infinite Privilege cards typically require a personal income of $60,000 or more, or a household income of $100,000 or more.
Mastercard credit card by income level
Like Visa, Mastercard offers a selection of card ranges in Canada: Mastercard, World Mastercard and World Elite Mastercard. World Mastercard and World Elite Mastercard offers typically require Canadians to have a higher income level:
- Mastercard: No income requirements*
- World Mastercard: Typically requires an income of at least $50,000 as an individual or $80,000 as a household.
- World Elite Mastercard: Typically requires an $80,000 personal or $150,000 household income.
* Issuers may require a minimum income.
American Express cards by cincome level
As of 2025, American Express Canada has no minimum income requirements for any of their credit cards, including premium options.
Conclusion
When choosing a credit card, consider your personal spending habits, financial goals, and ability to manage credit responsibly, regardless of your income level. It is important to read the fine print and understand all terms and conditions before applying for any credit card.
FAQs
Sources
- Dundas Life: Average Income in Canada (Updated 2025)
- Statistics Canada: High Income Canadians
Hannah Logan is a Canadian freelancer writer and blogger who specializes in personal finance and travel. You can follow her adventures on her travel blog EatSleepBreatheTravel.com or find her on Instagram @hannahlogan21.
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