Best Credit Cards in Canada

Another card Canadians can rely on for an excellent rewards program is the Scotiabank Gold American Express® Card. This card comes with a high credit score requirement but offers many features and benefits in exchange.

Overall, the card has some basic features that are fairly common. The annual fee stands at $120, which is pretty average among the credit cards on our list. On the plus side, it has one of the lower APRs on our list, standing at 19.99%.

In return, the card helps you earn as you shop. Just like the Cobalt® card, it rewards your eating in and out purchases, grocery shopping, and going to the movies by giving you 5x as many Scene+™ points on your purchase.

Gas and daily transit, including taxis, subway and buses, will bring you 3x as much, and so will subscriptions to select streaming services. Everything else will net you 1x for every $1 you spend using your Scotiabank card.

Plus, this credit card offers an attractive welcome bonus that allows you to earn up to 45,000 bonus Scene+ points. To become eligible for this offer, you’ll have to spend $1,000 in your first three months to reach the first 25,000 and earn the remaining 20,000 by spending $7,500 on eligible purchases within the first year.

The best part about these points is that you can redeem them for pretty much all the things you used to earn them. You can book your next vacation through Scene+ Travel, eat out, pay for entertainment, or redeem them for gift cards and account credit.

On top of this, these credit cards come with issuer-specific benefits, including Amex Offers, Amex Front Of The Line®, complimentary concierge services, and airport lounge access.

Pros

• Scene+TM points
• Excellent redemption options
• Strong welcome offer
• Great travel benefits
• Eight types of insurance coverage

Cons

• High credit score requirements

If you are looking for a cashback card, we can strongly recommend the BMO CashBack® World Elite® Mastercard®.

This card comes with relatively low credit score requirements, while its $120 annual fee and 20.99% APR are in the average range.

Unlike the previous two cards that focus on points, this card gives you cash back on categories that fit into every lifestyle. You earn 5% back for purchasing groceries, and 4% on transit, including taxis and public transportation.

Purchasing gas and having your electric vehicle charged nets a 3% cash back, while recurring bill payments, including for phone and streaming services, get you 2% of your money back. All other categories net you 1% cash back.

If you decide on BMO, you can enjoy up to 10% cash back for the first three months of using this card and get the annual card fee back as a rebate.

You can put BMO’s cash back in your BMO checking, savings, or InvestorLine account. Lastly, you can also use it as a credit for your monthly statement.

What’s more, you can also count on this credit card for medical insurance when out of your province or the country.

Pros

• Easy to earn cashback rewards
• Travel and medical insurance 
• Up to 10% cash back in the first three months
• Cash back never expires

Cons

• High minimum income requirements

MBNA is another excellent credit card to earn points with; you can trade those for cash back, gift cards, and much more.

It has slightly higher credit score requirements compared to the other cards on our list, but its annual fee is reasonable, and its APR of 19.99% is average.

With this card, you earn 5x the points for every restaurant and grocery shopping bill, as well as spending on digital media, memberships, and household utility purchases.

While this is perfect for those who work remotely, commuters who spend a significant amount of their paycheck on gas might find other credit card companies a better fit, as all other purchases net only 1x the points with MBNA.

Still, this card offers excellent additional bonuses. For example, its welcome bonus allows you to earn 20,000 bonus points for spending $2,000 within the first 90 days, and it tops it with an additional 10,000 if you enroll in paperless e-statements within those same 90 days.

Plus, this card never forgets your birthday: You’ll get bonus points equal to 10% of the total number of points collected in the 12 months leading up to your big day.

The card has additional features users might find interesting, including mobile, travel and price protection insurance, the Payment Plan feature that allows you to pay off sizable sums in installments, and all the benefits that Mastercard credit card offers.

Pros

• 5x points for everyday shopping
• 100-points-to-$1 ratio for travel
• Travel, mobile, and price protection insurance
• Online application
• Birthday bonus

Cons

• High credit score requirement

Brim World Elite Mastercard stands out on this list because it accepts new technology and offers holders exceptional convenience.

It offers an APR of 19.99%, and no annual fees for the first year, making it a great card for paying off the balance you might be carrying. It also has reasonable credit score requirements, so you could also use it as a credit-building tool.

The rewards fit every lifestyle with its 2x points for all purchases, without favoured categories. It also has very flexible redemption options, where you can exchange the points on any transaction or use them as cashback to improve your balance. 

Nonetheless, this card mostly stands out for its convenience. You can apply online and receive your virtual card in a matter of seconds. The card also allows contactless and installment payments and real-time payment notifications.

The Brim mobile app comes with an excellent budgeting tool that can help you manage your finances, save for big purchases, and track your spending.

Pros

• 2x points for all purchases
• Excellent mobile app
• No foreign transaction fees
• Free Wi-Fi globally
• Travel assistance and insurance
• No annual fee for the first year

Cons

• Expensive annual fee

This card comes with an annual fee rebate at the end of your first year and an APR of 20.99%. Its recommended credit score is also lower, which could make it an excellent card for building your credit score as well.

However, this card’s key feature is that it can help you travel the world for cheap. You can earn points through your everyday shopping and then exchange them for flight tickets, hotel rooms and restaurants.

Everyday shopping for gas, groceries, and purchasing directly through Air Canada® will bring you 1.5x points. This is less than other rewards cards usually give, but it’s still something. All other purchases get 1x points.

If you are shopping at one of the Aeroplan partners, you can expect to get twice the points for your purchase. Plus, connecting your Starbucks Rewards account will bring you 50% more points for coffee!

On top of that, you can also take advantage of bonus points and additional rewards. For starters, TD Aeroplan’s welcome bonus offers up to 50,000 Aeroplan points. You can also get a NEXUS enrollment fee rebate and free Uber Pass membership.

Pros

• Annual fee rebate
• 1.5x points on groceries
• Excellent welcome offer
• Buy flights with points
• Free Uber Pass membership

Cons

• $5,000 minimum credit limit