The 28 Best Credit Cards in Canada for 2023
By Daniel Schoester | 14 Sep 2023 |
Credit cards can open doors for you. Aside from enhancing your credit score, you’ll benefit from many other features, including airport lounge access, insurance coverage, and even free flights. However, navigating endless possibilities can be overwhelming (and expensive). This is why we created the list of the best credit cards in Canada. This guide was handcrafted and debated by a team of Canadian credit card specialists. Our methodology (explained in detail at the bottom) includes comparing cards based on their rewards potential, fees, and additional benefits. We selected cards that provide outsized value relative to their costs.
Since there is no “one-size-fits-all” approach to credit cards, we’ve introduced 28 sub-categories. Each sub-category contains a link to another list of top credit cards. This will help you learn more about the best cards for that particular purpose. For example, if travel credit cards are important to you, you can compare options within that category by viewing our sub-page. Furthermore, each card participates in a different rewards program. As such, we’ve linked to pages on these programs where appropriate. This guide is a high-level overview of the best card for each of the 28 sub-categories. Without any further delay, let’s dive in.
1. American Express Cobalt – Best Credit Card in Canada
($12.99/month)
Get up to 30,000 Membership Rewards points
Unsurprisingly, Canada’s best credit card is the American Express
The
Aside from a high potential to earn points, many rewards enthusiasts consider American Express Membership Rewards to offer the best program in Canada. This is due to its flexibility and breadth of transfer partners. While most point programs lock you into their network, American Express lets you transfer to other programs to maximize the value of your points. It’s not uncommon to redeem at two cents per point, implying a 10% earn rate on the 5x category. You can also redeem points towards retail gift cards, merchandise, entertainment purchases, and more. With numerous redemption options, you get exceptional flexibility. However, you generally lose reward points value with non-travel redemptions.
The American Express
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
2. BMO Ascend World Elite Mastercard – Best Travel Credit Card in Canada
The BMO Ascend World Elite Mastercard is Canada’s top travel credit card, thanks to its high earnings potential on travel purchases and its premium travel perks. With the ability to earn 5x the points per dollar spent on travel, up to $15,000 annually, this card offers a high return on spending for frequent travellers. Given BMO’s point value of $0.67, this translates to a 3.35% return on travel purchases. BMO also offers flexibility when redeeming points on travel due to a lack of blackout dates and restrictions.
Aside from a robust rewards program, the BMO Ascend World Elite also includes valuable benefits for frequent travellers. This consists of a DragonPass membership with four free airport lounge visits annually. You’ll also receive a free Boingo hotspot membership for the airport and in-plane Wi-Fi. For insurance, the BMO Ascend World Elite Mastercard is packed with coverage for travel mishaps. You get 21 days of emergency medical coverage, up to $5 million, and typical high-end benefits like concierge service, baggage delay, and trip cancellation/interruption insurance. Rental car collision coverage is also included. This extensive insurance package provides peace of mind when travelling.
| Eligibility requirements | Description |
| Credit score (estimated) | Very good or excellent (740-900) |
| Minimum income | $80,000 (individual) or $150,000 (household) annual income |
| Other | You are a Canadian citizen or permanent resident and are the age of majority in the province or territory where you live. |
3. BMO CashBack Mastercard – Best Cash Back Credit Card in Canada
Get up to 60,000 BMO Rewards points in the first year
With up to 3% on groceries, the BMO Cashback Mastercard earns a spot as the best cashback credit card in Canada. This card delivers maximum value on common spending categories and includes additional benefits. You’ll receive up to 3% cash back on groceries, 1% on recurring bills and 0.5% on everything else. While these categories have monthly caps, you still earn an unlimited 0.5% base rate after hitting the caps.
As an added benefit, the BMO Cash Back Mastercard offers purchase insurance and extended warranty insurance. Finally, cardholders also have access to exclusive discounts for certain events and shows, of of it with this no-fee credit card.
| Eligibility requirements | Description |
| Credit score (estimated) | Fair (around 600) or higher |
| Minimum income (estimated) | $15,000 |
| Other | You are a Canadian citizen or permanent resident and are the age of majority in the province or territory where you live. Also, you must not have declared bankruptcy in the past seven years. Provide your name, date of birth, contact info, SIN, address, employment status, income source(s), and rent or mortgage amount. |
4. American Express Cobalt – Best Rewards Credit Card in Canada
($12.99/month)
Get up to 30,000 Membership Rewards points
The American Express
Once earned, Membership Rewards points offer unmatched flexibility. Unlike other point systems that lock you in, you can transfer Amex Membership Rewards to other leading airline and hotel partners. For example, you can transfer to Aeroplan Rewards at a 1:1 ratio, which can maximize value by letting you take advantage of promotional offers.
Aside from using one of the best rewards programs, you’ll receive additional benefits through the Amex
The American Express
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
5. TD Aeroplan Visa Infinite – Best Aeroplan Credit Card in Canada
Earn up to $1,400 in value†
With a massive welcome bonus and earning potential, the TD Aeroplan Visa Infinite is Canada’s top Aeroplan credit card. This card maximizes earnings for travellers loyal to Air Canada. You’ll also receive various travel benefits, such as enhanced travel insurance and a complimentary checked bag.
The TD Aeroplan Visa Infinite currently offers an incredible welcome bonus of up to $1,400 in value. This includes up to 70,000 Aeroplan points – 10,000 for the first purchase, 25,000 for spending $5,000 in 6 months, and 15,000 when you renew after having spent $7,500 annually. This hefty bonus outweighs other Aeroplan cards.
You’ll earn 1.5x Aeroplan points per dollar on gas, groceries, and Air Canada purchases. All other purchases earn 1x. However, you’ll enhance the earn rate through Aeroplan partner brand purchases. Although alternatives can provide maximum points, our suggestion provides substantial value given the $139 annual fee.
As an Aeroplan credit card, you get preferred pricing on Aeroplan flight rewards and a free checked bag on Air Canada flights for you and your travel companions. These perks enhance the value when redeeming points for Air Canada flights. Other Visa Infinite benefits like travel insurance, concierge service, and car rental discounts round out the package. With category bonuses aimed at Aeroplan members, a substantial signup bonus, and Air Canada perks, the TD Aeroplan Visa Infinite offers the best overall value for Aeroplan rewards.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (725 or more) |
| Minimum income | $60,000 personal or $100,000 household |
| Other | You are a Canadian resident and are of the age of majority in your province/territory of residence. |
6. MBNA True Line Mastercard – Best Balance Transfer Credit Cards in Canada
With its exceptionally long 0% promotional period and competitive post-promotional interest rate, the MBNA True Line Mastercard stands out as Canada’s best balance transfer card. Balance transfer cards provide significant savings for those with a credit card balance. They let you refinance to a lower interest rate. For example, instead of paying above 20% APR on a premium credit card, you can transfer the balance to the MBNA True Line Mastercard and pay an industry-leading 0% interest for 12 months.
Once the promotional period ends, the annual interest rate is a very reasonable 12.99% on balance transfers and new purchases. At a time when interest rates are rising, this card stands out for keeping costs low. Furthermore, unlike many competitors, the MBNA True Line Mastercard has no annual fee. There are no extra costs to take advantage of the generous introductory offer or the card’s everyday low interest rate.
With most other balance transfer cards limited to 6 months of 0% interest and some featuring post-promotional rates above 19%, the MBNA True Line Mastercard provides unmatched value. Its blend of an exceptionally long 0% term and competitive long-term rate creates the ideal environment for consolidating debt at the lowest cost.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are of the age of majority in your province/territory of residence. |
7. Student BMO CashBack Mastercard – Best Student Credit Card in Canada
The BMO CashBack Mastercard is the best student credit card, thanks to its substantial cashback rewards on essential spending and flexible redemptions. With no annual fee, this card simplifies earning for students on a budget. Students should prioritize cashback credit cards due to flexible rewards redemption. Introductory-level travel cards generally earn insignificant points that take years to redeem on a flight.
We already talked about its generous 3% cashback on groceries (up to $500 monthly), the BMO CashBack Mastercard maximizes rewards for a significant student expense. 1% cashback on recurring bills also covers subscriptions and utilities. All other purchases earn 0.5% unlimited cashback.
Your cashback is redeemable anytime, with no minimums required. Students can redeem small amounts to cover textbooks, meals, or other pressing costs. The flexibility is invaluable for students. There’s also the benefit of extended warranty and purchase protection at no annual fee cost. For students seeking fuss-free cashback earnings and redemptions, the BMO CashBack Mastercard is the top choice. Its unmatched grocery rewards and flexible access make maximizing value effortless for students on tight budgets.
| Eligibility requirements | Description |
| Credit score (estimated) | Fair (around 600) or higher |
| Minimum income (estimated) | $15,000 |
| Other | You are a Canadian citizen or permanent resident and are the age of majority in the province or territory where you live. Also, you must not have declared bankruptcy in the past seven years. Provide your name, date of birth, contact info, SIN, address, employment status, income source(s), and rent or mortgage amount. |
8. American Express Business Gold Rewards Card – Best Business Credit Card Canada
The Amex Business Gold Rewards Card is Canada’s top business credit card with a solid welcome bonus and flexible earning. This card outshines competitors with valuable Membership Rewards points and solid perks. The Business Gold Rewards Card offers new card members up to 115,000 points – 70,000 from meeting a minimum spend requirement and 45,000 from quarterly bonuses. These valuable Amex points provide ample redemption flexibility.
You earn a simple rate of 1 point per dollar on all purchases. While not the highest earn rate, it’s competitive for a $199 annual fee card. We chose this over the $699 Business Platinum Card since the earn rate is similar, but the yearly fee is significantly lower. Membership Rewards points can be transferred to airline and hotel partners or redeemed directly for travel. This provides more flexibility than a co-branded card like the Aeroplan Business Reserve.
On the benefits side, you get the typical Amex perks like Front of the Line access, Amex Offers, and robust purchase protection. While not as packed with luxury perks as the Business Platinum, the Business Gold still provides substantial value.
The Amex Business Gold Rewards Card is a top choice for Canadian companies or sole proprietors. It offers a great signup bonus, a flexible 1 point per dollar earn rate, multiple redemption options, and valuable benefits. What sets it apart from competitors is the valuable Membership Rewards currency.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (670 or higher) |
| Minimum income | None disclosed |
| Other | You are a Canadian resident and have a Canadian credit file. You are the age of majority in the province or territory where you live. You can qualify for this card as a sole proprietor, doing business under your own name, or a business. |
9. BMO Air Miles World Elite Mastercard – Best Air Miles Credit Card in Canada
Get 2,000 AIR MILES Bonus Miles
The BMO Air Miles World Elite Mastercard is Canada’s premier Air Miles credit card, offering a lucrative welcome bonus, flexible redemptions, accelerated earn rates, and valuable perks. From the start, new cardholders can earn 2,000 bonus Miles by spending $3,000 in the first three months. The welcome bonus also includes no annual fees in the first year. Cardholders earn 3x miles for every $12 spent at Air Miles partners. You’ll also receive 2x miles for every $12 spent at any eligible grocery store, and 1x on other purchases. You can also opt-in to receive double miles at Shell.
Air Miles rewards can then be redeemed seamlessly for either Cash Rewards to offset purchases or Dream Rewards like flights and merchandise. Uniquely, you’ll receive a 25% discount on Air Miles points when redeeming flights through this card. For Air Miles collectors looking to maximize earnings across spending categories, redeem rewards freely, and access VIP perks, the BMO Air Miles World Elite Mastercard is unmatched. Its tailored Air Miles benefits and flexibility cement its status as the premier card for Mileage Plan members.
| Eligibility requirements | Description |
| Credit score (estimated) | Good to very good (670 or higher) |
| Minimum income | $80,000 (individual) or $150,000 (household) annual income |
| Other | You are a Canadian citizen or permanent resident and are the age of majority in the province or territory where you live. |
10. TD Aeroplan Visa Infinite Privilege – Best Credit Card for Travel Insurance
Earn up to $3,200 in value†
With its unrivalled coverage, the TD Aeroplan Visa Infinite Privilege is the best Canadian credit card for travel insurance. Not only does this card offer many types of insurance, it provides the most coverage per event. While competing cmards offer $1,000 in lost baggage coverage, the TD Aeroplan Visa Infinite Privilege offers $2,500. This enhanced protection applies to most coverages and costs less than most travel health insurance companies.
Furthermore, the welcome bonus is designed to benefit new cardholders immediately. You’ll receive 20,000 Aeroplan points with your first purchase, 50,000 with spending $7,500 in 180 days, and another 30,000 by spending $12,000 within 12 months. This is up to 100,000 Aeroplan points in the first year, with a generous portion provided immediately. On an ongoing basis, the card earns Aeroplan points on everyday purchases, including accelerated earnings for Air Canada, gas, groceries, dining, and travel.
Cardholders receive additional benefits such as Maple Leaf Lounge access, priority airport services, and a NEXUS rebate. Further advantages, such as Starbucks rewards boost and a companion pass, provide well-rounded value. For travellers and Aeroplan members seeking robust insurance and rewards, the TD Aeroplan Visa Infinite Privilege has no equal. Its unparalleled coverage and Air Canada perks give cardholders complete travel protection and enjoyment.
| Eligibility requirements | Description |
| Credit score (estimated) | Good to very good (660 or higher) |
| Minimum income | $150,000 of personal income or $200,000 of household income |
| Other | You are a Canadian citizen or permanent resident and are the age of majority in the province or territory where you live. |
11. KOHO Prepaid Mastercard – Best Card to Build Credit
Get $20 with the promocode HARDBACON
With its low-cost credit-building program, cashback rewards, and digital-first approach, the KOHO Prepaid Mastercard stands out as a top pick for the best credit card to build credit. For an extra $5 to $10 monthly, KOHO offers a structured credit-building feature that helps users improve their scores. Remarkably, KOHO users see their credit score increase by 22 points on average within three months of using the credit building service.
You can get 1% cash back on select purchases, with options for higher rates on premium plans. KOHO is fully transparent with its fee structure, so no hidden costs exist. Users can maximize value through boosted cashback with partners and up to 4.5% interest on balances. For those seeking to build or rebuild credit affordably while still earning cashback rewards, the KOHO Prepaid Mastercard is a top contender. Its credit-building program and digital convenience provide a clear path to stronger credit.
| Eligibility requirements | Description |
| Credit score (estimated) | None |
| Minimum income | None |
| Other | Be a permanent resident or Canadian citizen and have reached the age of majority in your province or territory of residence. |
12. Tangerine World Mastercard – Best Free Credit Card in Canada
0.5 % : Other purchases
No Annual Fees
With its lucrative welcome bonus, customizable cashback categories, universal acceptance, and extensive perks, the Tangerine World Mastercard stands out as Canada’s best free credit card. From the start, new cardholders can earn 10% cash back on up to $1,000 in spending within the first three months.
A key feature is the ability to choose two categories to earn 2% cashback, plus a third category if rewards are deposited into a Tangerine Savings Account. This allows users to tailor earnings to their habits and rotate categories as necessary. As a Mastercard, the card is widely accepted around the world. Several travel benefits add value, like Boingo WiFi access worldwide, Mastercard Travel Rewards, and DragonPass airport lounge visits for $32 USD. The card is now eco-friendly, made from 100% recycled plastic. You’ll also receive purchase protection, extended warranty, rental car, and mobile device insurance.
With no annual fee, the Tangerine World Mastercard provides unmatched value from a free card. Its unique mix of a lucrative welcome bonus, customizable rewards, global acceptance, travel perks, and environmental consciousness make it a standout choice for savvy Canadians seeking everyday value.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or higher) |
| Minimum income | $60,000 in personal income or $100,000 for the household or total balances of $250,000 or more in Tangerine accounts |
| Other | Be a resident of Canada and have reached the age of majority in your province or territory of residence. Be clear of bankruptcies over the past 7 years. |
13. MBNA True Line Mastercard – Best Low Interest Credit Card Canada
The MBNA True Line Mastercard offers a standout interest rate for a card with no annual fee, cementing itself as Canada’s best low interest credit card. New cardholders also enjoy 0% interest on balance transfers for 12 full months when completed within the first 90 days – one of the most generous offers in Canada. This allows substantial interest savings when consolidating debt.
Eligibility is straightforward – be of age in your province and a Canadian resident. Features like Apple Pay, fund transfers, authorized user cards, and installment plans boost convenience and flexibility. As a Mastercard, the card is widely accepted worldwide and comes with standard Mastercard protections. MBNA emphasizes top-notch security and privacy as well.
With an exceptionally long 12-month 0% term and ongoing 12.99% interest rate, the MBNA True Line Mastercard provides unmatched value for Canadians focused on minimizing interest expenses. Its balance transfer and purchase rates make it a clear winner for affordability.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are of the age of majority in your province/territory of residence. |
14. KOHO Prepaid Mastercard – Best Prepaid Credit Card Canada
Get $20 with the promocode HARDBACON
The KOHO Prepaid Mastercard stands out for its generous cashback rewards, high interest earnings, and digital convenience. This makes it a top prepaid credit card. Unlike most boring prepaid cards, users can earn up to 2% cash back on everyday purchases like groceries, dining, transportation, and more. Koho also offers boosted 6% cashback when shopping with partner brands online and in-store.
Furthermore, KOHO pays high interest, up to 4.5% on account balances. This allows users to grow their savings while earning cashback on spending. You’ll also receive no foreign exchange fees and discounted credit-building options depending on your plan. The prepaid card function ensures users only spend preloaded amounts, supporting responsible habits.
As an app-based prepaid card, KOHO enables users to track spending and rewards via mobile notifications efficiently. Quick account setup, virtual cards, and extensive security features provide added convenience. With over one million Canadian users, KOHO has a proven track record of rewarding consumers. For prepaid card users focused on maximizing cashback earnings, the KOHO Prepaid Mastercard delivers. Its stellar cashback program and digital experience make it a top choice.
| Eligibility requirements | Description |
| Credit score (estimated) | None |
| Minimum income | None |
| Other | Be a permanent resident or Canadian citizen and have reached the age of majority in your province or territory of residence. |
15. NEO Secured Credit Card – Best Secured Credit Card Canada
Secured credit card
With guaranteed approval, minimal deposit, and generous cashback rewards, the
The
With transparent policies, easy applications, and testimonials from happy members,
| Eligibility requirements | Description |
| Credit score (estimated) | None |
| Minimum income | None |
| Other | Be a permanent resident or Canadian citizen and have reached the age of majority in your province or territory of residence. |
16. Simplii Financial Cashback Visa – Best Credit Card for Young Adults in Canada
Get $20 with the promocode HARDBACON
With strong cashback and no annual fee, the Simplii Cashback Visa is the best credit card for young adults in Canada. Its elevated earn rates on essential spending make maximizing rewards easy. The Simplii Cashback Visa offers 4% cash back on restaurants, bars and cafes, 1.5% on groceries, gas, bills, and drugstores, and 0.5% on everything else. These categories align well with young adult spending.
There are caps on the bonus categories, but they provide ample room to earn accelerated rewards. After reaching the caps, your cashback rates drop to the 0.5% baseline. The cashback accumulates and is redeemed on the final day of your December statement. You can think of it as lump-sum savings to offset your holiday spending. With no annual fee, the Simplii Cashback Visa is an affordable option for young adults. For young adults seeking straightforward cashback earnings, the Simplii Cashback Visa is the ideal choice. Its intuitive bonus categories and fee-free design make maximizing value effortless.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | $15,000 for the household |
| Other | Be a Canadian resident (excluding Quebec), have reached the age of majority in your province or territory, and haven’t declared bankruptcy in the last 7 years. |
17. HSBC World Elite Mastercard – Best No Foreign Transaction Fee Credit Card
Earn up to 50,000 points
The HSBC World Elite Mastercard is a standout choice for Canadians seeking the best no foreign transaction fee credit card. Notably, the card has no FX fees, strong points potential, lounge access, and enhanced insurance protection. Effectively, this card is a well-rounded travel companion. The card offers up to 50,000 points for newcomers. You’ll immediately receive 20,000 bonus poinst just for signing up. Moreover, you’ll receive another 30,000 bonus points if you spend $1,000 on the card in the first 60 days of opening your account.
While there is a moderate annual fee, it’s fully rebated for the first year. It’s also largely offset by a $100 annual travel enhancement credit, which can be used for travel-related expenses such as seat upgrades or baggage fees. Supplementary cardholders also come without an annual fee, allowing you to share this card with family as an emergency travel card. Another highlight is the HSBC World Elite Rewards Program, allowing cardholders to earn 3% on eligible travel purchases. Eligible gas, grocery, and drugstore purchases earn 2%, while everything else earns 1%.
Travellers will also appreciate the card’s extensive insurance coverage, which includes everything from emergency medical insurance to baggage delay/loss coverage. An added perk is the complimentary membership to Travel Pass by DragonPass, granting access to over 1,300 airport lounges globally. Cardholders can also take advantage of hotel bookings discounts via platforms like Expedia and Agoda and enjoy unlimited WiFi access at over a million hotspots through Boingo.
The HSBC World Elite Mastercard is a premier choice for Canadians, blending an impressive rewards scheme with extensive travel benefits and no foreign transaction fees. It is ideal for frequent globetrotters and regular users.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (700 or more) |
| Minimum income | $80,000 personal or $150,000 household income, or a minimum of $400,000 in assets under management |
| Other | Be a Canadian resident and be the age of majority in your province or territory. |
18. Scotiabank Passport Visa Infinite – Best Credit Card for Lounge Access
Get up to 25,000 Scene+ points
The Scotiabank Passport Visa Infinite is a distinguished credit card for frequent travellers. Its standout feature includes six complimentary Visa Airport Companion lounge visits annually, positioning it as the best credit card for lounge access. Beyond the lounge, international travellers and online shoppers will appreciate the absence of foreign transaction fees, ensuring cost-effective purchases in foreign currencies.
The rewards structure is equally compelling. Cardholders can accumulate up to 3 Scene+ points on select grocery, dining, and entertainment expenses. Specifically, you’ll earn 3 points per dollar at partner grocery chains like Sobeys and Safeway, 2 points on dining, entertainment, and daily transit, and 1 point on other eligible everyday expenditures. A special introductory offer further sweetens the deal, allowing you to garner up to $1,100 in value, including 35,000 bonus Scene+ points, during the first year. You must make $1,000 in purchases for the first three months to qualify. The offer also includes 10,000 points for spending at least $40,000 within 12 months.
Although the card carries a modest annual fee, it compensates with many insurance coverages, from travel emergency medical to rental car collision loss/damage Insurance. The first supplementary card is complimentary, making it easier for families to share the benefits. Additional perks elevate the experience, such as the Visa Infinite Hotel Collection, concierge service, and a complimentary Avis Preferred Plus membership.
The Scotiabank Passport Visa Infinite is a top choice for discerning Canadians. With its lounge access, generous rewards, and comprehensive insurance offerings, it stands out as the ultimate credit card for lounge access.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (700 or more) |
| Minimum income | $60,000 of personal income, a minimum household income of $100,000 or assets under management of $250,000 or more |
| Other | Be a Canadian resident and be the age of majority in your province or territory. |
19. RBC Avion Visa Infinite – Best Visa Credit Card Canada
Get 35,000 welcome Avion points
The RBC Avion Visa Infinite stands out among the best Visa credit cards due to its strong earning potential and comprehensive insurance coverage. One of its key highlights is the generous welcome bonus of up to 55,000 bonus Avion points. You get 35,000 Avion points upon approval and another 20,000 Avion points when you spend $5,000 on the card in the first 6 months. This translates up to $1,100 in airfare or can be transferred to various partners such as Avios, Asia Miles, or American Advantage.
Aside from an industry-leading welcome bonus, the RBC Avion Visa Infinite has a well-balanced point structure. You’ll receive 1 Avion point per dollar, with a 25% bonus on eligible travel expenditures. The redemption flexibility through Avion Rewards is valuble, eliminating the constraints of blackout periods or seat restrictions. If there’s a seat available, it’s yours for the taking.
A comprehensive suite of competitive insurance coverages, including a notable $1,500 mobile device insurance, ensures cardholders travel and shop with an added layer of security. Additional perks, such as the DoorDash, Rexall, and Petro-Canada rewards programs, amplify the card’s value proposition. Optional services like RBC Road Assist and Identity Theft & Credit Protection are available for those seeking further enhancements. In conclusion, the RBC Avion Visa Infinite goes beyond the ordinary credit card experience, offering a staggering welcome bonus, balanced earning potential, and comprehensive insurance coverage.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (700 or more) |
| Minimum income | $60,000 of personal income or a minimum household income of $100,000 |
| Other | Be a Canadian resident and be the age of majority in your province or territory. |
20. CIBC Dividend Visa Infinite – Best Credit Card for Gas
The CIBC Dividend Visa Infinite Card is an excellent choice for Canadians looking for the best credit card for gas. With an impressive 4% cash back on gas and charging, it outperforms competitors like TD, currently only offering a temporary 6% cash back for three months. Furthermore, CIBC’s exclusive partnership with Journie Rewards enhances the cards appeal. This lets you save up to $0.10 per litre at selected pumps. This winning combination of cashback and direct savings makes every refuel or charge cost-effective.
The CIBC Dividend Visa Infinite is widely recognized as a top-tier cashback option, particularly for gas and grocery purchases. For example, aside from gas and charging, the card also earns 4% on groceries. This is trailed by 2% on transportation, dining, and recurring payments and a 1% return on all other expenses. In addition to cash-back benefits, the card offers a comprehensive insurance package that includes mobile device and out-of-province emergency travel medical insurance, providing users with high security and protection. The Visa Infinite program enhances the card’s status, providing cardholders exclusive hotel privileges, curated dining experiences, and concierge services.
With a modest annual fee waived for the first year and exceptional cashback on gas and groceries, the CIBC Dividend Visa Infinite stands as the leading credit card for gas in Canada.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (700 or more) |
| Minimum income | $60,000 of personal income or a minimum household income of $100,000 |
| Other | Be a Canadian resident and be the age of majority in your province or territory. |
21. American Express Cobalt – Best Credit Card for Groceries
($12.99/month)
Get up to 30,000 Membership Rewards points
The American Express
Amex Member Rewards Points are famous for their versatility, offering a 1:1 transfer to well-regarded frequent flyer and loyalty programs such as Aeroplan and Marriott. This provides cardholders with a wide array of redemption options that can enhance the value of their points. Additionally, exclusive Amex offers provide a range of deals and discounts designed to meet the needs of discerning shoppers. The card also includes many types of insurance, including travel medical and mobile device coverage.
Despite a modest monthly fee of $12.99, the value offered by the card is significant, especially for regular grocery shoppers. The rewards structure also extends to streaming, travel, and other purchases, providing a comprehensive rewards experience. Overall, it firmly establishes itself as one of Canada’s leading grocery credit cards, ensuring every food-related purchase, whether at home or dining out, is rewarded.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
22. BMO U.S Dollar Mastercard – Best USD Credit Card in Canada
The BMO U.S. Dollar Mastercard is a standout choice for those who frequently transact in U.S. dollars or travel across the border regularly. It sets itself as the best USD credit card in Canada with a unique annual fee structure that essentially makes the card free with consistent use; once a yearly spend of U.S. $1,000 is reached, the subsequent year’s fee is waived.
The BMO U.S. Dollar Mastercard doesn’t just offer convenience; it also provides protection. Every purchase made with the card comes with extended warranty and purchase protection. As a Mastercard, it also ensures smooth and hassle-free transactions at over 30 million locations worldwide, adding to its global appeal. For families, adding a cardholder at no extra cost extends the advantages to multiple members. When it comes time to settle the U.S. dollar bill, several convenient ways exist. This includes transfers from a BMO U.S. dollar bank account or pre-authorized debits from any U.S. dollar account in Canada.
In conclusion, the BMO U.S. Dollar Mastercard is expertly designed for individuals who regularly transact in U.S. currency. Its fee rebates and additional benefits establish it as one of Canada’s leading USD credit cards. Whether you’re a frequent traveller to the U.S., a regular shopper on U.S. online platforms, or someone who deals in U.S. dollars regularly, this card offers a streamlined experience.
| Eligibility requirements | Description |
| Credit score (estimated) | Fair (around 600 or higher) |
| Minimum income | None |
| Other | Be a Canadian resident and be the age of majority in the province or territory where you live. |
23. American Express Cobalt – Best Airline Credit Card Canada
($12.99/month)
Get up to 30,000 Membership Rewards points
An unusual choice, the American Express
The American Express
With a strong earning potential, transferable points, and comprehensive travel coverage, the American Express
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
24. American Express Marriott Bonvoy – Best Hotel Credit Card
Earn up to 75,000 Marriott Bonvoyᵀᴹ Points
The American Express Marriott Bonvoy card stands out as Canada’s top hotel credit card, primarily appealing to those who enjoy travel and prefer high-quality hotel accommodations. This card’s appeal starts with an impressive welcome offer of 50,000 Marriott Bonvoy points after spending a mere $1,500 within the first three months. This bonus can be redeemed for several free nights at Marriott properties, thus setting the stage for luxurious travels.
The card’s rewards structure is also noteworthy. It offers 5x Mariott Bonvoy Rewards on eligible expenses at Marriott Bonvoy hotels and 2x on all other purchases. Starting from the second year, the card rewards its users with an annual free night, which can be redeemed at properties with a point value of up to 35,000. This reward offsets the card’s yearly fee, highlighting its exceptional value. Notably, the card offers competitive insurance coverage, including flight delay and lost baggage.
As for Marriott Status, You’ll receive Silver Elite Status by default, including 10% bonus points on stays, late checkout priority, ultimate reservation guarantee compensation, and 10% off gift shop purchases. Exceeding $30,000 in annual card spend promotes you to Gold Elite Status. This includes 25% bonus points on stays, an elite welcome gift, 2pm late checkout, complimentary enhanced room upgrades, and complimentary internet access. To further improve your Marriott status, the card includes 15 qualifying nights that help you reach levels exceeding Gold Elite.
The card’s association with Marriott, a worldwide hotel giant with over 8,000 properties across 30 unique brands, gives cardholders a wide range of accommodation choices, from luxury resorts to charming boutique hotels. The American Express Marriott Bonvoy is the best hotel card due to its abundant rewards, elite privileges, extensive hotel options, and insurance coverage.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (690 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
25. American Express Platinum Card – Best Premium Credit Card Canada
Earn 80,000 Membership Rewards® points
Well positioned as a status symbol, the American Express Platinum Card stands out as Canada’s best premium credit card. This card provides seemingly unlimited benefits, making it a challenge to summarize. However, with an American Express Platinum Card, you’ll receive massive points earning potential, travel enhancements, comprehensive insurance, and generous credits that offset the hefty fee.
This card now earns 3x Amex Membership Rewards Points on dining, food delivery, and 2x points on travel. All other purchases earn 1x point per dollar spent. However, new members receive a generous bonus of 80,000 points after spending $7,500 within the first three months. That translates to $800 in travel redemptions, assuming a value of one cent per point. As always, Amex Membership Rewards are celebrated for their flexibility, suitable for many transfer partners and redemption options.
Moving on, the card’s affiliation with the American Express Global Lounge Collection provides unlimited access to over 1,300 airport lounges worldwide. This is complemented by Toronto Pearson International Airport benefits such as complimentary valet service and access to a priority security lane. You’ll receive a loyalty program status upgrade at Hilton and Marriott hotels. This includes Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status, earning you late checkouts and complimentary breakfasts. In both cases, you’ll be fast-tracked to receive higher tiers. Travellers also appreciate the strong insurance coverage. This includes rental car, emergency medical, baggage insurance, and more.
Although the American Express Platinum carries a hefty fee, there are numerous credits to offset it. This includes an annual $200 travel credit, a new $200 dining credit and $100 NEXUS rebate.
Beyond its tangible benefits, the metal card serves as a symbol of luxury. A dedicated “global concierge” team is always available to cater to cardholders’ unique needs, whether securing a reservation at an exclusive restaurant or crafting a custom travel itinerary. It reigns as Canada’s top premium credit card with its abundant rewards, select hotel statuses and premium services,
| Eligibility requirements | Description |
| Credit score (estimated) | Good to excellent (700 or more) |
| Minimum income | None disclosed |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
26. HSBC World Elite Mastercard – Best Mastercard Credit Card in Canada
Earn up to 50,000 points
The HSBC World Elite Mastercard is recognized as Canada’s best Mastercard credit card, especially for those who appreciate flexibility, comprehensive benefits, and excellent value. One key feature that sets it apart is the absence of foreign transaction fees, providing cardholders with cost-effective international travel and online shopping experiences.
The card’s earning rates are compelling, with cardholders accruing 6x points on eligible travel expenses, equivalent to a 3% travel rewards rate. Everyday costs, including gas, groceries, and drugstore purchases, yield 4x points. New cardholders receive a bonus of 20,000 upon sign-up. In addition, by spending at least $1,000 in the first 60 days they can earn an extra 30,000 points.
Additional travel benefits include access to over 1,300 global airport lounges through Mastercard Travel Pass, exclusive discounts with partners like Expedia and Agoda, and unlimited Wi-Fi access via Boingo. The card also offers an annual $100 travel enhancement credit, which can be used towards specific airline amenities such as seat upgrades, baggage fees, or airport lounge access. You’ll also receive comprehensive insurance coverage, ensuring cardholders’ peace of mind. This includes Emergency Travel Medical Insurance and Mobile Device Insurance.
In conclusion, the HSBC World Elite Mastercard transcends the typical credit card offering. It is a comprehensive financial tool designed for those who demand value, flexibility, and premium benefits. Whether for international travel, shopping, or extensive insurance coverage, this card delivers unparalleled value, securing its position as one of Canada’s best Mastercard credit cards.
| Eligibility requirements | Description |
| Credit score (estimated) | Good/very good (700 or more) |
| Minimum income | $80,000 personal or $150,000 household income, or a minimum of $400,000 in assets under management |
| Other | Be a Canadian resident and be the age of majority in the province or territory where you live. |
27. American Express Cobalt – Best Amex Credit Card Canada
($12.99/month)
Get up to 30,000 Membership Rewards points
With its exceptional earn rates across multiple categories and valuable flexibility, the American Express
Furthermore, the card currently offers a strong welcome bonus of 30,000 Membership Rewards points to further boost the rewards potential. You can transfer points at a 1:1 ratio to leading airline and hotel partners like Aeroplan and Bonvoy. You can redeem points directly for statement credits, Amazon purchases, or Amex travel if you prefer not to travel.
While the
In conclusion, the Amex
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | None |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
28. Walmart Rewards World Mastercard – Best Store Credit Card Canada
Earn up to $50 in bonus Walmart Reward Dollars™.
The Walmart Rewards World Mastercard stands out in Canada as the best store credit card, particularly for Walmart shoppers. This card offers several key features, including up to 3% cashback with no annual fee. Upon approval, new cardholders can earn a bonus of $45. This is possible through a $20 statement credit for purchases over $50 on the day of approval, an additional $15 in Reward Dollars after making a purchase at Walmart and another location, plus an extra $10 in Reward Dollars for choosing paperless statements.
The earning rates of this card are also attractive, offering 3% on purchases made on Walmart.ca, 1.25% at Walmart stores and gas stations, and 1% on all other purchases. This ensures consistent accumulation of rewards. In addition, the Walmart Rewards World Mastercard includes complimentary Boingo Wi-Fi and various types of purchase protection. Purchases made with the card also come with an extended warranty, doubling the manufacturer’s original warranty for up to two additional years. The first 90 days after a purchase offer protection against theft, loss, or damage.
The association of the card with Walmart, a globally trusted brand, underscores its dependability. In conclusion, the Walmart Rewards World Mastercard provides credible rewards and additional features for no annual fee. Whether you’re a regular shopper at Walmart or a discerning customer seeking a rewarding credit card experience, this card is designed to cater to your needs.
| Eligibility requirements | Description |
| Credit score (estimated) | Good (660 or more) |
| Minimum income | Annual household income of $100,000 or more |
| Other | You are a Canadian resident and are the age of majority in the province or territory where you live. You have a Canadian credit file. |
Rating Methodology
The credit card rankings were determined by evaluating each card’s rewards, fees, introductory offers, and additional benefits. Cards that provided more rewards and benefits in contrast to fees earned higher rankings. As such, we selected the cards that give the most value for their cost.
The rankings aim to provide readers with the top credit card in each category based on an unbiased assessment of the monetary value, perks, and overall utility each card can offer most consumers. The goal is to synthesize critical criteria into a straightforward scoring system that surfaces the strongest credit cards in each niche for Hardbacon readers.
FAQ About Best Credit Cards in Canada
The best credit card in Canada is the American Express
The best credit card varies with purchasing habits, budget, and interest in additional features. However, Canada’s best overall credit card is the American Express
When choosing a credit card in Canada, it is essential to consider the rewards potential, fees, and additional benefits. Rewards potential includes the earn rate, welcome bonus, and redemption flexibly. Fees include the annual fee, interest rates, and foreign exchange costs. Finally, additional benefits include lounge access, insurance coverage, and purchase discounts.
The credit card issuer determines eligibility for Canadian credit cards. Typically, this is based on your credit score and income. Generally, applicants with higher incomes and good to excellent credit scores have a greater chance of approval. Check your credit score before applying for any credit card to ensure yout meet the requirements.
You can get a credit card with any salary in Canada, but it will limit the type of card you can qualify for. Entry-level student credit cards generally have no salary requirements. The next big step is travel credit cards which typically require a good credit score and a minimum $60,000 income.
Applying for a credit card can affect your credit score. When you apply, the lender will likely do a hard check of your credit, which could slightly lower your score. Other lenders may perform a soft check which has a negligible effect on your credit score. Once approved, however, having a good-standing credit card can help your score by proving that you are responsible for the debt. Building up an established payment history over time is an effective way to improve your score.
The minimum credit score for a Canadian credit card varies with the issuer and type of card. Most lenders require at least 600 to be approved for basic cards. However, you can still qualify for secured credit cards if your score is lower. You’ll likely need a score of 650 or more for higher-tier cards, such as travel rewards cards.
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