We Canadians love our cars. Maybe it’s because we live in a sparsely populated country and many of us require a car to achieve the freedom of mobility. Maybe it’s because the distances we travel in our cars are so long they are often measured in hours, not kilometres.
Whatever the reason, we love our cars so much Canadians own an estimated twenty-five million vehicles, representing one of the highest car ownership rates in the world. Those twenty-five million cars will each cost their owners a total average of between $8,600 and $13,000 per year – almost as much as the national average yearly rent for a two-bedroom apartment.
If you’re a car owner, it makes sense to consider credit cards that have benefits for drivers.
There are two main types of credit cards drivers likely care about:
Today we’re going to look at the best credit cards in Canada for both categories so that you can minimize your car’s impact on your bottom line. We’ll start with roadside assistance.
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What is roadside assistance?
Roadside assistance exists to assist you if you find yourself suddenly stranded with your car, often due to some form of mechanical issue. The coverage typically includes twenty-four/seven assistance for flat tire replacement, emergency fuel deliveries, car battery boosts, towing and winching services in case your car broke down or is stuck in a ditch, and emergency lockout services. The company most synonymous with roadside assistance in Canada is the CAA, and in order to receive coverage, you’ll usually have to pay an annual membership fee that can add up to between $73 to $147. But there are ways to obtain the benefits of roadside assistance coverage without paying, like using a credit card that offers roadside assistance as a complimentary perk.
Best credit cards with free Roadside Assistance
- TD Cash Back Visa Infinite* Card($120 annual fee)
- BMO Cashback World Elite Mastercard($120 annual fee)
TD Cashback Visa Infinite* Card
Roadside assistance features:
- Coverage: 24/7 access across Canada and the U.S.
- Service calls per year: Unlimited
- Towing distance: up to 200 km radius (to the nearest garage, gas station, or repair facility)
- Emergency gas replacement: up to $5 worth of emergency fuel
- Other services: emergency flat tire changes, winching/extraction, battery boost, and lost key lockout assistance
- Noteworthy features: Unlimited service calls per year; between $25 – $200 in reimbursements for transport, food, and accommodations in the event you’re stranded due to a roadside emergency; and trip planning services
Card details
- Annual fee: $120 (first year rebate)†
- Earn 6% Cash Back† on all Purchases for the first 3 months† up to a total spend of $2,000. Plus, first year no Annual Fee for the Primary and Additional Cardholders†. Conditions apply. Must apply by May 29, 2022
- Get 3% cash back on gas, groceries and recurring bills†
- Earn 1% cash back on all other purchases†
- This offer is not available for residents of Quebec.
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†Terms and conditions apply.
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BMO Cashback World Elite Mastercard
- Coverage: 24/7 access across Canada and mainland U.S.
- Service calls per year: 4
- Towing distance: up to 10 km radius (to the nearest garage, gas station, or repair facility)
- Battery boost, flat tire change, fuel delivery, lockout assistance, extrication and winching
- Noteworthy features: Additional authorized users are covered for free
This coverage is worth $69 annually if you paid for your membership outright. Now let’s look at each of the individual BMO credit cards that offer this perk:
BMO Cashback World Elite Mastercard
Card details
- $120 annual fee (waived for 1st year)
- Welcome Offer: 10% cash back on all purchases (up to $200) for first 3 months
- 1.5% cash back thereafter
- Annual income requirement: $80,000 (personal) or $150,000 (household)
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Find your perfect credit card in under 60 seconds - No SIN required
Tell us a bit about yourself
Answer some questions so we can personalize our recommendations - this won't impact your credit score
Check your eligibility
We confirm your eligibility with our partner, TransUnion. This will be a ‘soft credit check’ which you can see but lenders cannot
Find your perfect matches
We show you the cards you’re most likely to want and most likely to get
Best gas credit cards in Canada
If you drive a lot and are looking to save on the cost of owning a car, you may be more interested in maximizing your rewards for gas purchases more than receiving complimentary roadside assistance coverage. With that in mind, these are the best credit cards for gas that you should consider adding to your financial arsenal:
- Best no fee cash back card:Tangerine Money-Back Card
- Best no fee points cards:MBNA Rewards Platinum Plus and PC Financial World Elite
- Best overall cash back cards:CIBC Dividend Visa Infinite, TD Cash Back Visa Infinite, Meridian Visa Infinite
- Best overall points card:Scotiabank Gold American Express
Best no fee cash back card for gas
Tangerine Money-Back Card
Card details
- No annual fee
- Earn 2% cash back on purchases in up to three spending categories of your choice (options include gas, groceries, dining, bills, and more)
- 0.5% cash back on all other purchases
- Welcome offer: apply for a Tangerine Money-Back Credit Card by January 31, 2022 and earn an extra 15% back (up to $150) when you spend up to $1,000 in everyday purchases within your first 2 months
- No limit on how much cash back you can earn
- Annual income required: $15,000
- Roadside assistance: None
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Best no fee points credit cards for gas
MBNA Rewards Platinum Plus
Card details
- No annual fee
- Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days , and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent annually in the applicable category. 1 point‡ for every $1 spent on all other eligible purchases
- Welcome offer: Get up to 10,000 bonus points
- Annual income required: No specific amount
- Roadside assistance: None
- This offer is not available for residents of Quebec.
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PC Financial Mastercard
Card details
- No annual fee
- 30 PC Optimum points per $1 spent at Esso gas station
- 25 points per $1 spent at Shoppers Drug Mart
- 10 points per $1 spent on all other purchases
- Annual income required: No specific amount
- Roadside assistance: None
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Best cash back credit cards for gas
CIBC Dividend® Visa Infinite* Card
Card details
- Annual fee: $99 (rebated for the first year)
- Welcome bonus: get a first-year annual fee rebate for you and up to three Authorized Users† and 10% cash back for the first 4 statements on net purchases of up to $2500.†
- 4% cash back on gas and groceries
- 2% on Telus and Tim Hortons purchases
- 1% on everything else
- Link and use your CIBC Dividend® Visa Infinite* Card with Journie Rewards to automatically save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- Annual income required: $60,000 (personal) or $100,000 (household)
- Roadside assistance: None
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TD CashBack Visa Infinite
Card details
- Annual fee: $120
- Once offer ends, get 3% cash back on gas, groceries and recurring bills
- Earn 1% cash back on all other purchases
- Annual income required: $60,000 (personal) or $100,000 (household)
- Roadside assistance: Yes
- This offer is not available for residents of Quebec.
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†Terms and conditions apply.
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Meridian Visa Infinite Cash Back Card
- Annual fee: $99
- 4% cash back on gas and groceries
- 2% on recurring bills and at pharmacies
- 1% on everything else
- Annual income required: $60,000 (personal) or $100,000 (household)
- Roadside assistance: None
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Best overall points credit card for gas
Scotiabank Gold American Express
Card details
- Annual fee: $120
- Welcome offer: Earn up to 40,000 bonus Scene+ points in your first year (that’s up to $400 towards travel). Plus, no annual fee in the first year, including on supplementary cards and a 0.00% introductory interest rate on balance transfers for the first 6 months. Offer expires Jan 1, 2022.
- Earn 3 points per dollar spent on gas, public transit, ride share services, taxis, and streaming services
- Earn 5 Scotia Rewards points per dollar spent on groceries, restaurants, cafes, and entertainment
- Earn 1 point per dollar spent on everything else
- No foreign transaction fees
- Annual income required: $12,000
- Roadside assistance: None
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The final word
For roadside assistance, the TD Cashback Visa Infinite offers high-level roadside assistance while maintaining a strong cash back rewards scheme. If roadside assistance isn’t important to you, you’ll maximize your fuel spending rewards by choosing the Scotia Momentum Visa Infinite Card.
*This blog is for educational purposes and isn’t legal insurance advice. Check credit card roadside assistance policies for details.
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