The best joint credit cards in Canada for couples
Jordan Lavin
There are few things more romantic than going out for dinner with your significant other, then paying for it with a credit card that pays mega rewards for restaurant purchases.
Most days, however, it’s more likely that one of you is picking up dinner while the other is filling the car with gas. And if only one of you has a rewards credit card, the other is missing out on all those points.
It doesn’t have to be this way. By sharing a credit card with your significant other, you can maximize your romance points (and credit card rewards, too).
How does a joint credit card work?
When you share a joint bank account with your partner, you both have equal privileges and responsibilities. You can both deposit and withdraw money from the account, and you share equally in any fees and overdraft debts. As far as the bank is concerned, you both fully own the account.
Credit cards work a little bit differently because they’re usually only issued to one person. Instead of having a joint credit card, there is a primary cardholder who is responsible for the card and making payments. The primary cardholder can then add authorized users (a.k.a. secondary cardholders) to the credit card account.
Secondary cardholders get their own card with a unique number and expiry date and can use the card as if it were their own. Both cards share the same credit limit and both cards earn the same rewards. But secondary cardholders aren’t responsible for making payments and their credit isn’t affected by the card.
Depending on the card, a small annual fee may apply for each authorized user. This is usually less than the annual fee charged to the primary cardholder.
Earn the most joint credit card rewards with your partner
Sharing a credit card is also a good way to earn more rewards. With both of your purchases generating travel rewards or cash back, you can get rewarded faster and redeem them for romantic getaways or your next grocery store trip.
Additional cardholders can also take advantage of the perks that come along with the card. You and your partner can share access to bonus features like travel insurance, airport lounge access and extended product warranties.
A join credit card can also help you manage your family finances. By sharing a credit limit and having both of your purchases appear on the same statement, you can get a better view of your spending.
Disadvantages of joint credit cards
Adding a secondary cardholder won’t help that person build credit because the card isn’t in their name. If your goal is to help your partner build credit, they will need to get their own card. Secured credit cards are a good option for people with no credit history.
Secondary cardholders also don’t get welcome bonuses. While most credit cards offer extra rewards to new clients, you can’t double up by sharing the joint credit card with a partner.
Because credit cards usually have different reward categories, you may be missing out on points by having just one shared card. To maximize your rewards, sign up for a couple cards with different reward categories. For example, if you both love traveling, one of you could get the BMO eclipse Visa Infinite Card which offers 5 points per dollar spent on groceries and gas, while the other could get the American Express Cobalt card which pays 3 points per dollar on streaming subscriptions, 5 points per dollar spent on restaurants and restaurants, and 2 points per dollar on transit and travel. Both cards give you flexible redemption options for travel bookings. If you’re both authorized users of each card, you’ll always have the best one on hand.
Look out for special offers for joint credit card users too - with the BMO eclipse Visa Infinite Card you’ll also earn 10% more points when you add another user to your account, although the additional cardholder will have to pay a $50 annual fee. The American Express Cobalt card does not charge a fee for additional joint credit card holders.
Best for Food & transit
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1pt – 5pts / dollar earn rate
- Welcome bonus
70,000 bonus points (a $466 value)
- Annual fee
$120 $0 first year waived
Perks
- Welcome offer: Get up to 70,000 points worth $467 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year – that’s a $637 value in your first year!*
- Earn 5x the BMO Rewards points on groceries, dining, gas and transit*
- Get 1 BMO Reward for every $1 spent on everything else*
- Get a $50 annual lifestyle credit to spend however you want*
- Mobile Device Insurance that covers you for up to $1,000*
- Earn 10% more points when you add an authorized user to your account*
- Pay with Points by browsing your recent transactions & redeem your points for as little as $1
- 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
- *Terms and conditions apply
Features
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 23.99%
Best for Groceries & dining
based on spending $2,200/mo after $156 annual fee
- Earn rewards
1pt – 5pts / dollar earn rate
- Welcome bonus
15,000 bonus points (a $150 value)
- Annual fee
$156
Perks
- Ratehub.ca’s 2023 Award Winner – Best Rewards Credit Card
- In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets
- Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
- Earn 3X the points on eligible streaming subscriptions in Canada
- Earn 2X the points on eligible ride shares, transit & gas in Canada
- Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
- Earn 1X point for every $1 in Card purchases everywhere else
- Enjoy access to hotel bookings, and up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
- Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with American Express® Experiences
- 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
Features
Ratehub’s take
The American Express Cobalt is one of Canada’s best travel credit cards. If you’re looking for a versatile credit card that rewards both everyday spending and travel, the American Express Cobalt is an ideal choice. Cardholders can enjoy strong travel insurance, a generous welcome offer, and flexible point redemption options.
Pros
- Exceptional point earning: 5x the points on eligible restaurant and food delivery, 3x the points on eligible streaming services, 2x the points on travel and daily transit. The earning potential for restaurants and takeout is significantly higher than most other cards
- Flexible point redemption:Travelers can choose from three ways to use their points: points 1:1 to several valuable loyalty programs including Aeroplan, use the Fixed Points Program to simplify redemptions regardless of travel dates, or use points for statement credits at a rate of 1 point = 1 cent. Or, redeem Membership Rewards for travel, gift cards, merchandise, or purchases
- Exclusive access: Enjoy privileges such as Front of the Line Presale and Reserved tickets to concerts, theatre performances, movie screenings, culinary events, and other special offers
- Comprehensive travel insurance: Benefit from a strong travel insurance package, including up to $5,000,000 in travel emergency medical
- No additional fee for authorized users: Add authorized users for no extra cost (an average fee of $30 – 50 on other comparable cards)
Cons
- Monthly fee: A monthly fee of $12.99 (totalling an annual fee of $156, which is higher than most other rewards cards)
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Travel insurance age limitations: The travel insurance package does not cover trip cancellation or medical coverage for cardholders over the age of 65
- Lack of airport lounge access: Frequent travellers may be disappointed as this card does not offer access to airport lounges
Eligibility requirements
Minimum credit score: 725
Minimum income: N/A
Interest rates
Purchase interest: 20.99%
Cash advance: 21.99%
How to decide on the right joint credit card for you and your partner
Consider which rewards you’re most interested in. You may want to earn travel rewards to put toward your next vacation, or you might prefer a cash back credit card that saves you money on every purchase. If you carry a balance, you might prefer to skip rewards altogether and select a low interest credit card instead.
You should also keep your spending habits in mind. Do you and your partner spend lots of money on travel and restaurants? Or groceries and bills? Look for the card that will best reward the purchases you make most.
If you and your partner like to travel, you might want to find a card that has strong travel insurance coverage for things like travel emergency medical and trip cancellation. If travel insurance isn’t important to you, you can save money on the annual fee by choosing a card without these features.
Finally, consider the fee for secondary cardholders. The Tangerine Money Back World Mastercard is a great choice for cash back rewards with no fee for primary or secondary cardholders. Plus, you can choose your cash back categories, so if you want to earn in some unconventional rewards areas like home renovations, this card is a great choice.
If you don’t mind an annual fee, the CIBC Dividend Visa Infinite Card offers great cash back rewards and only costs $30 per year for secondary cardholders.
Best for Flexible spending
based on spending $2,200/mo after $0 annual fee
- Earn rewards
0.5% – 10% earn rate
- Welcome bonus
$100
- Annual fee
$0
Perks
- Ratehub.ca’s 2023 Award Winner – Best No Fee Cash Back Credit Card
- Life’s back in session. Enjoy it with an extra 10% back.*
- Apply for a Tangerine Money-Back Credit Card by April 30, 2024 and earn an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.*
- Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all other purchases.
- Earn extra rewards – have your Money-Back Rewards deposited into a Tangerine Savings Account, and get a 3rd 2% Money-Back Category.
- No limit on the amount of Money-Back Rewards you can earn.
- Change your 2% Money-Back Categories to suit your spending.
Ratehub’s take
While the fact that the Tangerine Money-Back Credit Card is a no annual fee card, what really sets this card apart is the customizability. With this card, you can choose your own bonus categories (which will earn you a strong cash back rate of 2% per dollar spent). This is rare in the credit card market and means you can avoid being locked into a bonus category that you can’t take full advantage of or that doesn’t align with your spending habits.
Pros:
- Customizable bonus categories: Flexibility to pick up to three bonus categories to earn 2% cash back on (out of a total of 10 options), which is in sharp contrast to most other cards where you have fixed bonus categories that you have no control over. Users are also given the freedom to change the bonus categories at any time (changes will take up to 90 days to come into effect)
- High cash back earning rate: 2% cash back per dollar on bonus categories is one of the richest earn rates for a no-fee card
- Wide acceptance: Widely accepted almost everywhere including No Frills and Costco
- Additional cards at no cost: Free supplementary cards for authorized users
- Frequent cash back reimbursement: Cash back is refunded on a monthly basis, instead of the standard annual reimbursement
Cons:
- Limited cash back for non-bonus categories: For all purchases that aren’t categorized under one of your chosen bonus categories, you’ll earn just 0.5% cash back
- Limited travel insurance and perks: No travel medical insurance or any substantial side perks
Eligibility requirements
Minimum credit score: 660
Minimum income: $12,000/yr
Interest rates
Purchase interest: 19.95%
Cash advance: 19.95%
Best for Groceries & gas
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1% – 4% earn rate
- Welcome bonus
$250
- Annual fee
$120
Perks
Ratehub.ca’s 2023 Award Winner – Best Cash Back Credit Card
Welcome Offer: Get a first-year annual fee rebate and earn 10% cash back welcome bonus of up to $250 (first 4 statements)!†
- After that, get 4% cash back on eligible gas, EV charging and grocery purchases.†
- 2% cash back on eligible transportation, dining purchases and recurring payments†
- 1% cash back on all other purchases†
- Get cash back on demand – redeem your cash back at any time when you have a minimum of $25 through CIBC Online and Mobile Banking®†
- Save on gas with CIBC and Journie Rewards
- Link and use your CIBC Dividend® Visa Infinite* Card with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- This is a digital-exclusive offer.To be eligible for this offer: 1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and 2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.† This offer is reserved for you. Please do not forward it to anyone else.
- CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Dividend card within the last 12 months.†
- This offer is not available for the residents of Quebec.
- †Terms and Conditions Apply
Features
Ratehub’s take
The biggest selling point of the CIBC Dividend® Visa Infinite is its impressive rewards on everyday essentials. On top of the 1% earn rate for all purchases, this card earns an industry-leading 4% cash back on both groceries and gas purchases – two of the most common spending categories for Canadian households.
Pros
- High earn rates on specific categories: Significantly higher earn rates on groceries, EV charging, and gas than most other cards (4% cash back)
- Flexible cash back redemption: Users can redeem rewards at any time as a statement credit starting in increments of $25
- Convenient payment option for large purchases: Access to CIBC’s Pace It program, allowing you to pay off large purchases in monthly increments
- Exclusive program access: Access to the Visa Infinite Program, entitling you to attend special dining events and hotel perks at participating hotels and restaurants
Cons
- Income requirement: The annual fee ($120) and personal income requirements ($60,000) may be prohibitive
- Limited insurance coverage: Insurance coverage isn’t as comprehensive as other similar rewards cards (if insurance is a priority for you, consider the cards featured on our list of Best credit cards for travel insurance)
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
The bottom line
When you and your partner share a joint credit card, you can keep better track of your spending and earn more rewards. And when you share a few cards together, you can be sure you’ll always have the right one on hand to earn the most points for your purchase.
Compare credit cards online to find the right card for both of you.