Ratehub’s 2026 Credit Card Awards

Also the winner for: People's Choice

For the sixth year in a row, we’ve selected the American Express Cobalt as the overall best rewards credit card in Canada. The American Express Cobalt continues to be a top choice for cardholders who want a flexible rewards program that fits both everyday spending and travel. While its travel and overseas spending multipliers have changed, the card still offers an excellent mix of redemption options, travel perks, and comprehensive insurance coverage. This card includes:

• Generous welcome bonus: earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
• Exceptional point earning, most notably: 5x the points on eligible restaurant and grocery purchases and 2x the points on ride shares, transit and gas. The earning potential for restaurants is significantly higher than most other cards
• Redemption options for travel, gift cards, merchandise, or statement credits. Frequent flyers can also transfer points 1:1 to several loyalty programs
• High earning potential for restaurants and takeout compared to other cards
• Front of the Line Presale and Reserved ticket access to events and special offers
• Strong travel insurance with up to $5,000,000 in travel emergency medical coverage
• No fee for additional authorized users (other cards charge an average of $30 - $50)

Also the winner for: Best for groceries, Best for restaurants, and Best for travel insurance

The Scotiabank Gold American Express remains the best travel credit card thanks to its combination of strong earn rates and excellent travel insurance. It’s an especially rewarding option for those who spend on dining, entertainment, and travel, offering consistent value and protection for frequent flyers and casual travelers alike. Winning features include:

• Save on foreign currency purchases during international travel or online shopping: this card does not charge a foreign transaction fee (typically 2.5%)
• Comprehensive travel insurance, including $1 million in travel medical coverage lasting for 25 days - one of the longest coverage periods available in the market
• Earn up to 6x Scene+ points at Sobeys, Safeway, Freshco, Foodland, and other participating grocery stores
• Plus, earn an impressive 5 points per $1 spent on all other groceries, restaurants, food, delivery, and entertainment, making it one of the best multipliers on the market
• Enjoy access to VIP airport lounges and take advantage of round-the-clock concierge services for a luxurious travel experience

The Scotiabank Gold American Express Card takes the lead as this year’s best credit card for groceries, restaurants, and travel insurance. Whether you’re stocking up on groceries, dining out, ordering takeout, or travelling abroad, this card consistently delivers exceptional value.

Also the winner for: Best credit card for gas

The CIBC Dividend Visa Infinite keeps its spot as the best cash back credit card for another year, delivering impressive returns on everyday essentials. With one of the highest earn rates on groceries and gas, flexible redemption options, and premium Visa Infinite benefits, this card continues to be a reliable choice for maximizing savings on daily spending. Here are some additional features you can expect with this card:

• Supercharged savings with 4% cash back on groceries and gas
• Flexibility to redeem your cash back whenever you want, from a minimum of $10
• Access to CIBC’s Pace It program, allowing you to pay off large purchases in monthly increments
• Excellent digital-only welcome bonus: Join and earn up to $400 in value including a first year annual fee rebate.†
• Experience exclusive dining events and hotel perks through Visa Infinite benefits program
• Save up to 10¢ per litre at participating Pioneer, Fas Gas, Ultramar, and Chevron stations with Journie Rewards (digital exclusive offer)

The CIBC Dividend Visa Infinite is also our choice for the best credit card for gas.

The Simplii Cash Back Visa earns the title of best no fee cash back credit card for offering high earn rates on everyday spending without any annual cost. With top-tier cash back at restaurants, bars, and coffee shops, along with solid returns on essentials like gas and groceries, this card delivers great value for Canadians who want simple rewards without fees or restrictions. This card comes with:

• No annual fee
• 4% cash back on eligible restaurant, bar, and coffee shop purchases (up to $5,000 per year)
• 1.5% cash back on eligible gas, groceries, drugstore purchases, and pre-authorized payments (up to $15,000 per year)
• 0.5% cash back on all other purchases with no earning limit
• Purchase Security and Extended Protection Insurance for eligible items
• Earn cash back when sending a Global Money Transfer with your card

The CIBC Select Visa continues to lead as the best balance transfer credit card in Canada, offering a reliable way to consolidate debt at a low cost. Its 0% introductory balance transfer rate and low ongoing interest make it a strong choice for Canadians looking to pay off balances and regain financial flexibility. Make full use of features like:

• Excellent balance transfer promotion: Transfer your credit card balance of $100 or more - Get 0% interest for up to 10 months with a 1% transfer fee† (BT fee does not apply for Quebec residents) and a two year annual fee rebate†
  
• Balance transfer fee does not apply for QC residents
• A low interest rate of 13.99% afterwards (for purchases, cash advances, and balances transfers) helps keep your credit card balance on track
• Low annual fee and income requirements

A repeat winner for the best low interest credit card, the MBNA True Line Mastercard remains a dependable choice for Canadians who want to manage balances without the burden of extra fees. With straightforward terms and wide accessibility, this card offers an easy way to stay on top of your finances while keeping borrowing costs low. Here's what makes this card stand out against its competitors:

• A low purchase interest rate of 12.99% that won’t change based on your credit rating, income, or the bank’s prime lending rate
• No annual fee and no income requirements, making it accessible
• Promotional balance transfer interest rate of 0% for a full year (with a 3% transfer fee), perfect for paying down debt

Note: this offer is not available for residents of Quebec.

The PC Mastercard takes top honours as the best student credit card for its accessibility, strong rewards, and flexible redemption options. With no annual fee, no income requirements, and easy approval, it’s an ideal starter card for students looking to build credit while earning points on everyday spending — from groceries and transit to late-night study snacks. What makes it a standout choice:

• Earn 30 points per litre at Esso™ and Mobil™ stations, 25 points per $1 at Shoppers Drug Mart®, and 10 points per $1 everywhere else
• Redeem PC Optimum™ points on groceries, health and beauty products, apparel, and fuel rewards at over 4,500 locations nationwide
• No annual fee, no income requirements, and no points expiry
• Extended warranty and purchase assurance coverage for added protection

The BMO CashBack Mastercard holds onto its title as the best credit card for newcomers, offering a straightforward way to earn rewards while building credit in Canada. With no annual fee, strong cash back rates, and a generous welcome offer, this card continues to deliver great value for newcomers getting started with Canadian banking. Key highlights of this card include:

• Great welcome offer: earn up to 5% cash back in your first 3 months.
• No annual fee and no Canadian credit history required
• 3% cash back on groceries
• Redeem cash back for as little as $1 at a time
• View your credit score anytime for free
• Enjoy extra benefits like extended warranty and purchase protection, discounts on Shell fuel, and car rental discounts when you connect your card to your Air Miles Collector account

The American Express Aeroplan Reserve Card earns the title of best premium credit card for combining top-tier travel perks with exceptional rewards on Air Canada purchases. Ideal for frequent flyers, it delivers priority airport privileges, extensive lounge access, and luxury benefits that make every journey smoother and more rewarding. Extra premium perks that come with this card include:

• Earn 3 points per $1 spent on Air Canada and Air Canada Vacations purchases
• Earn 2 points per $1 on dining and food delivery in Canada, and 1.25 points per $1 on everything else
• Complimentary access to Air Canada Maple Leaf Lounges and Air Canada Café locations in North America
• Annual Worldwide Companion Pass after $25,000 in annual spending
• Priority check-in, boarding, and baggage handling with Air Canada
  Free first checked bag for you and up to 8 companions on the same reservation
• Access to more than 1,200 airport lounges worldwide through Priority Pass
• Up to $100 NEXUS fee credit every four years
• Extensive travel and purchase insurance coverage

The American Express Cobalt takes home this year’s People’s Choice Award, earning top marks from Canadians for its exceptional versatility and everyday value. Whether it’s dining out, ordering in, or booking your next trip, the Cobalt consistently rewards spending where it counts most. Cardholders also appreciate its flexible redemption options, strong insurance coverage, and access to exclusive Amex perks — all of which make it one of the most well-loved credit cards in Canada.

• Earn up to 5x the points on everyday purchases including dining, groceries, and food delivery
• Redeem points for travel, gift cards, merchandise, or statement credits
• Transfer points 1:1 to several frequent flyer and hotel loyalty programs
• Enjoy room upgrades, late check-out, and hotel credits through The Hotel Collection from American Express
• Access Front of the Line presales and Amex Experiences for concerts, events, and dining
• Comprehensive travel and purchase insurance
• No minimum income needed for approval

The Marriott Bonvoy Business American Express Card is our winner for the best business credit card, offering strong rewards for travel and everyday business expenses. Ideal for entrepreneurs and teams that travel frequently, this card helps businesses earn valuable Marriott Bonvoy points faster, while providing tools to manage expenses and streamline cash flow. Winning features include:

• Earn 5 points/$1 on participating Marriott Bonvoy hotels, 3 points/$1 on eligible gas, dining and travel, and 2 points/$1 on everything else
• Redeem points for free hotel stays with no blackout dates, or for flights with leading airlines
• Receive an annual Free Night Award after your card anniversary
• Access business management tools and employee card controls
• Comprehensive travel insurance, including flight delay, baggage, and car rental coverage

The Secured Neo Mastercard remains a highly accessible credit card that rewards its users, earning the title once again as our best credit card for building credit. With a minimum security deposit of $50 and a low monthly fee, it’s an excellent option for those looking to establish or rebuild their credit score. Cardholders earn 1% back on gas and grocery purchases and up to 15% back at more than 10,000 Neo partners across Canada, with an annual cash back limit of $680. This secured card stands out against the other in this category for the following reasons:

• Low $96 yearly fee
• Only secured card on the market with cash back rewards
• Flexible credit limit - increase or decrease as needed
• Insights dashboard to track spending 
• Auto-pay feature
• No hard credit check, excluding Quebec applicants (hard credit inquiries may have a negative impact on your credit score)