The best credit card promotions and sign up offers for 2025
Natasha Macmillan, Business Unit Director - Everyday Banking
May 5, 2025
From points bonuses and cash back offers to annual fee waivers, there’s no shortage of credit card promotions and sign up offers out on the market. Here’s our round up of the best credit card offers in Canada.
Best offers and promotions for cash back credit cards
Featured
CIBC Dividend Visa Infinite Card
Get a 10% cash back welcome bonus of up to $250 (first 4 statements) and a first-year annual fee rebate. Annual fee: $120.
Featured
Scotia Momentum Visa Infinite
Get 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases) and a first-year annual fee waiver. Annual fee: $120. Offer ends June 30, 2025.
Featured
SimplyCash Preferred by AMEX
Get 10% cash back on all purchases (up to $2,000 total) for the first 3 months, plus $50 statement credit when you make a purchase in month 13. Annual fee: $120.
Best offers and promotions for rewards credit cards
Featured
American Express Cobalt Card
Get 1,250 bonus points for each month you spend $750 in the first 12 months, up to a maximum of 15,000 points (~$150 value). Annual fee: $156.
Featured
TD Aeroplan Visa Infinite
Get up to 25,000 bonus Aeroplan points in your first 180 days. Annual fee: $139 (waived for the first year).
Featured
PC® World Elite Mastercard®
Earn 20,000 bonus points upon approval ($20 value). No annual fee.
Best offers and promotions for balance transfer credit cards
Featured
MBNA True Line Mastercard
Get a 0% promotional annual interest rate (“AIR”) for 12 months (3% transfer fee). Conditions apply. Offer not available for residents of Quebec. Annual fee: $0.
Featured
CIBC Select Visa Card
Get a 0% introductory interest rate on balance transfers for the first 10 months (1% transfer fee) and an annual fee rebate for 2 years. Annual fee: $29.
Best offers and promotions for premium credit cards
Featured
American Express Aeroplan Reserve Card
Get up to 60,000 Aeroplan points within your first 3 months. Annual fee: $599.
Featured
American Express Platinum Card
Get up to 70,000 Membership Rewards points within your first 3 months. Annual fee: $799.
Featured
Scotiabank Platinum American Express
Get up to 80,000 bonus Scene+ points within your first 14 months. Annual fee: $399.
Our guide to the best credit card offers
Credit card promotions include rewards points, welcome bonuses, cashback incentives, and even exemptions from annual fees. They are designed to draw in new applicants while also enticing existing cardholders to use their credit cards more frequently. These promotions are tailored to provide attractive perks and rewards.
It's important to review the terms and conditions of any credit card promotion to gain a comprehensive understanding of the specifics, including spending minimums, potential post-promotion annual fees and the standard APR. Additionally, individuals should assess their financial objectives and spending habits to determine if a particular credit card promotion or sign up offer aligns with their unique needs and preferences.
FAQ
What is the best cash back credit card offer right now?
The best cashback credit card offer right now is for the Scotia Momentum Visa Infinite, offering 10% cash back for the first three months (up to $2,000 in total expenses).
Which is the best credit card to start with?
The best credit card to start with depends on your financial situation. If you are a student or just got your first job, a great first credit card is the BMO CashBack Mastercard - Student, a no annual fee rewards credit card. This would also be a great card for your first job.
What is the best credit card in Canada?
To find out the best credit card for you, check our Ratehub’s 2024 credit card awards. We’ve evaluated countless options to find the best credit cards per category, including best travel credit cards, best cash back credit card, best no fee credit card, etc.
Ratehub.ca gift card and cash bonus signup offers
Featured
Best for Everyday spending
First year reward
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1% – 10% / dollar spent
- Annual fee
$120 $0 first year waived
Perks of the BMO CashBack® World Elite®* MasterCard®*
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Up to $5,000,000 per person (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP up to $65,000 for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $500 per occurrence | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Up to $1,000 per occurrence | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Up to $1,000 per occurrence | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | One additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Welcome offer: Get up to 10% cash back in your first 3 months and earn an additional $75 cash back bonus when you spend $25,000 in your first year. Plus, we’ll waive the $120 annual fee in the first year*
- Earn more cash back on the categories that mean the most:
– 5% on groceries*
– 4% on transit including ride sharing, taxis and public transportation*
– 3% on gas and electric vehicle charging*
– 2% on recurring bill payments like your monthly phone bill or favourite streaming service*
– 1% unlimited cashback on all other purchases* - Get the highest cash back earn rate on groceries in Canada.*
- Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services
- Extended Warranty Plus*
- Purchase ProtectionPlus*
- Complimentary membership in Mastercard Airport Experiences provided by LoungeKey*
- Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges*
- Complimentary Roadside Assistance Program*
- BMO CashBack World Elite Travel and Medical Protection*
- Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada
- Cash Advance & Balance Transfer Interest: 21.99% for Quebec residents
- The offer may vary in Quebec
- 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
Ratehub’s take
The BMO Cashback World Elite Mastercard is a great pick if you want easily accessible and unlimited cash back rewards. The card does come with some extra features, too, which are not usually typical for cash back credit cards, although they are not the most competitive perks on the market.
Pros
- Access cash back at any time: Unlike some other cards which require you to redeem only once per year or set a higher minimum redemption, this card allows you to redeem cashback rewards at any time at a minimum of $1
- Strong earn rates: The 5% cash back on groceries is one of the highest in the market
- Unlimited cash back: 1% cash back on all purchases is not subject to any limits or maximums like with other cards
Cons
- Bonus rewards are limited: For bonus categories including groceries, transit and bill payments, you can only earn rewards on the first $300-$500 spent each month, then you’ll earn at the base rate (1%)
- Insurance package: The travel medical coverage only applies for the first 8 days of your trip, which isn’t the most competitive package on the market, plus, the card doesn’t include mobile device insurance
Eligibility requirements
Minimum credit score: 760
Minimum income: $80,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 23.99%
Featured
Best for Food & transit
First year reward
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Welcome bonus
70,000 points (a $466 value)
- Annual fee
$120 $0 first year waived
Perks of the BMO eclipse Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for first 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Covered for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- 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 13 months!
- 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
- Cash Advance & Balance Transfer Interest: 21.99% for Quebec residents
- 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
Ratehub’s take
This no-fee card offers surprisingly generous earn rates on everyday purchases for everything from gas, to recurring bills, groceries and takeout. Plus, BMO Rewards points are fairly flexible for travel—the most valuable redemption category for most cards, thanks to the Pay with Points option.
Pros
- Flexible redemption options: The recently added Pay with Points option allows you to book travel through any provider and then use your points to cover the purchase as a statement credit. This way, you’re not limited to booking through specific travel partners. Or, you can use your points to contribute to investments or savings accounts
- Get rewarded for paying on time: A unique feature of the Rise Visa is you’ll get rewarded with 2,500 bonus points for paying your full credit card balance on time for one year straight. Plus, if you redeem at least 12,000 points using the Pay with Points feature in one year, you’ll get another 2,500 bonus points, too
Cons
- Low spending caps for bonus categories: The bonus earn rates apply to the first $5,000 in spending for each category, which works out to approximately $416 in maximum spending each month. After this, you’ll earn the base rate.
- Points are worth slightly less: Compared to dynamic rewards programs like Aeroplan, BMO Rewards points are worth slightly less. Plus, since points have the same value regardless of where you are booking, you can’t stretch their worth by booking for specific destinations or dates.
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 23.99%
Featured
4.0 Ratehub rated
Best for Groceries
First year reward
based on spending $2,200/mo after $0 annual fee
- Earn rewards
0.5% – 3% / dollar spent
- Anniversary bonus
$50
- Annual fee
$0
Perks of the BMO CashBack® MasterCard®*
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Welcome offer: Get up to 5% cash back in your first 3 months. Plus, a $50 cash back bonus – that’s up to $175 in cash back in your first anniversary*
- Then get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases!*
- Now earn the highest cash back on groceries in Canada without paying an annual fee!†
- Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred*
- No Annual fee*
- Want to get your cash back ASAP? Now you can redeem your cash back anytime through direct deposit, as a credit on your statement or into your BMO InvestorLine account*
- Extended Warranty*
- Purchase Protection*
- Receive a discount on car rentals*
- Cash Advance & Balance Transfer Interest: 21.99% for Quebec residents
- 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
- †Based on a comparison of the non-promotional grocery rewards earn rate on cash back credit cards with no annual fee as of January 4, 2023.
Ratehub’s take
The BMO CashBack Mastercard is a great choice for those looking to earn cash back on daily purchases such as groceries, making it easy for rewards to add up quickly.
Pros
- Competitive earn rate for groceries: Earn 3% cash back on groceries – a very competitive earn rate for groceries for a no-fee card in Canada
- Flexible cash back redemption: Redeem cash back for as little as $1 and set up automatic deposit for reward totals of $25 or more. Cash back redemption options include putting it towards your card statement or investing with BMO’s InvestorLine
- Balance transfer offer: If you’re looking to consolidate debt and pay it off faster, this card offers a 0.99% promotional annual interest rate for 9 months with a 2% balance transfer fee. Conditions apply
- No annual fee
Cons
- Low earn rate for everyday spending: Low earn rate of 0.5% for purchases outside of bonus categories
- Rewards are capped monthly: Higher earn rates on groceries and bill payments only apply to the first $500 spent each month. This limits your overall cash back earnings, too
- Minimal insurance coverage: The insurance package included is limited and only includes extended warranty and purchase protection coverage
Eligibility requirements
Minimum credit score: 660
Minimum income: $15,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 23.99%
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Cash back credit card signup offers and promotions
Featured
4.5 Ratehub rated
Best for Groceries & gas
First year reward
based on spending $2,200/mo after the annual fee
- Earn rewards
1% – 4% / dollar spent
- Welcome bonus
$250
- Annual fee
see Details
Perks of the CIBC Dividend® Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for 10 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 per occurence | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Replacement/repair within 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
Ratehub.ca’s 2023 Award Winner – Best Cash Back Credit Card
Join and earn over $400 in value including a first year annual fee rebate.†
Here’s how you can earn over $400 in value
- Earn a 10% cash back welcome bonus of up to $250 (first 4 statements†)
- A $50 cash back bonus for setting up one pre-authorized payment within the first 4 monthly statements.†
- First year annual fee rebate valued at $120.†
- 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 over $600 with CIBC and Skip
Get a 12-month Skip+ free trial and other exclusive benefits when you link your CIBC Dividend Visa Infinite Card with Skip.† - 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. Select Apply Now to learn more.
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 4% cash back on both groceries and gas purchases – the best on the market, for 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)
- Redeem any time: 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)
- Annual cash back is limited: While the points earnings rate is impressive, annual rewards at 4% and 2% are capped at $80,000 total, then you’ll earn at the base rate
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Annual fee
$120
Featured
Best for Groceries & bills
First year reward
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1% – 4% / dollar spent
- Annual fee
$120 $0 first year waived
Perks of the Scotiabank Momentum® Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Up to $1,000,000 per occurrence | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Up to $1,000,000 for 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Up to $10,000 per trip | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Up to $10,000 per trip | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | $500 per person per occurance | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | $500 per occurrence | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | $500 per occurrence | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Up to 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | One additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases)¹
- No annual fee in the first year, including on additional cards.¹
- 4% for every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
- 2% for every $1 you spend on gas and daily transit purchases
- 1% cash back on all other purchases with no cashback limit
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Comprehensive Travel Insurance & New Mobile Device Insurance coverage
- Rates, fees and other information are effective as of November 1, 2024. Subject to change.
Ratehub’s take
The Scotiabank Momentum Visa Infinite Card offers impressive rewards on everyday purchases. This card earns great cash back on many categories – however, its stand-out feature is 4% cash back on groceries. This card can help offset rising household expenses and is considered to be one of the best cash back credit cards.
Pros:
- High cash back rate on essentials: Enjoy significantly higher earn rates on groceries and gas than most other cards (4% cash back)
- Comprehensive insurance coverage: Benefit from strong insurance coverage typically is reserved for travel credit cards
- Lucrative welcome offer
Cons:
- Spending cap on bonus categories: Annual total spend limit of $25,000 on the 4% and 2% spending categories; thereafter, the earn rate drops to 1%
- Limited redemption flexibility: Cash back reward is only offered as a statement credit once per year in November and cannot be redeemed in smaller amounts or any other time of year
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Featured
4.5 Ratehub rated
Best for Everyday spending
First year reward
based on spending $2,200/mo after $120 annual fee
- Earn rewards
2% – 4% / dollar spent
- Welcome bonus
$250
- Annual fee
$120
Perks of the SimplyCash® Preferred Card from American Express
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 per occurence | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Covered for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn a bonus 10% cash back on all purchases for your first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit when you make a purchase in month 13. This could add up to $250 in bonus value in your first 13 months.
- Earn accelerated earn rates on eligible gas and grocery purchases
- Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases
- Access events and special offers curated for Cardmembers with Amex ExperiencesTM
- Extensive insurance coverage and 24/7 Customer Service
- 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.
Ratehub’s take
The SimplyCash Preferred Card from American Express offers a standard 2% cash back on everything with 4% on gas and groceries, plus top robust insurance coverage and all the benefits of American Express perks.
Pros
- Generous cash back rewards: Offers an impressive cash back rate of 2% on all purchases, 4% on gas and groceries up to $30,000 annually, and then 2% cash back on those categories
- Robust travel and purchase protection insurance: Comprehensive travel and purchase protection, including travel accident insurance, purchase protection, and extended warranty
- 24/7 concierge services
- Exclusive access: Enjoy privileges such as access to Front of the Line Presale and Reserved tickets to concerts, theatre performances, movie screenings, culinary events, and other special offers
Cons
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Annual fee: The card comes with an annual fee, which could be a drawback for individuals who prefer no-fee credit card options, particularly as this card isn’t seen as the best cash back card on the market
- Low redemption flexibility: Cash back rewards are only redeemable once per year
Eligibility requirements
Minimum credit score: 725
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 21.99%
Balance transfer: N/A
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Rewards credit card signup offers and promotions
Featured
4.5 Ratehub rated
Best for Groceries & dining
First year reward
based on spending $2,200/mo after $156 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Welcome bonus
15,000 points (a $150 value)
- Annual fee
$156
Perks of the American Express Cobalt® Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $250,000 | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for first 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $85,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | $500; delays 4 hours or more | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | $500 per trip for all persons | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | $500; delays 6 hours or more | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 for 90 days | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Up to $1,000 for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- 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, a room upgrade (when available), 12pm check-in and late check-out (when available), 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® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex ExperiencesTM
- 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.
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 ride shares, transit and gas. 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: 21.99%
Cash advance: 21.99%
Balance transfer: N/A
Featured
4.0 Ratehub rated
Best for Aeroplan Points
First year reward
based on spending $2,200/mo after $139 annual fee
- Earn rewards
1pt – 1.5pts / dollar spent
- Welcome bonus
25,000 points (a $500 value)
- Anniversary bonus
15,000 points (a $300 value)
- Annual fee
$139 $0 first year waived
Perks of the TD® Aeroplan® Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn up to $1,300 in value†, including up to 40,000 Aeroplan points†, no annual fee for the first year† and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
- Earn a welcome bonus of 10,000 Aeroplan points when you make your first Purchase with your new Card†
- Earn 15,000 Aeroplan points when you spend $7,500 within 180 days of Account opening†
- Plus, earn a one-time anniversary bonus of 15,000 Aeroplan points when you spend $12,000 within 12 months of Account opening†
- Apply for the NEXUS program and once every 48 months get an application fee rebate (up to $100 CAD)†.
- Plus, share free first checked bags with up to 8 travel companions†
- Get an annual fee rebate for the first year†.
- To receive the first-year annual fee rebate, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening and you must add your Additional Cardholders while this offer is in effect.
- Starbucks Bonus Offer for New Linked Members†: Link your TD Aeroplan Visa Infinite to earn 600 Starbucks Stars and redeem them for free Starbucks treats. Limited time only. Conditions and restrictions apply.
- Earn Aeroplan Points on your everyday purchases
- Complimentary Visa Infinite* Concierge service† available 24/7
- †Terms and conditions apply.
- Financial institutions pay us for connecting them with customers, including by paying for advertisements, clicks, or when someone applies for/is approved for a product. Terms and conditions apply between you and the provider of the product – please be sure to review them. Product information and details vary for Quebec. The content provided on our site is for information only; it is not meant to be relied on or used in lieu of advice from a professional. Partners/Advertisers are not responsible for the accuracy of information on our site. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.
Ratehub’s take
For Aeroplan clients and frequent Air Canada fliers, the TD Aeroplan Visa Infinite card offers exceptional benefits for earning more points to redeem on airline travel.
Pros
- Aeroplan redemption: Redeem Aeroplan points for flights on Air Canada or over 27 Star Alliance member airlines, including United Airlines and Lufthansa, to name a few
- Air Canada perks: Access Air Canada perks, including the first bag checked free for the primary cardholder and up to eight travel companions, potentially saving up to $30 per traveller on flights across Canada and the US. Plus, earn credits towards achieving elite airline status
- Nexus Membership reimbursement: Receive up to $100 in Nexus Membership reimbursements every 48 months, making for smoother cross-border travel within Canada or to the US
- Comprehensive travel insurance: Enjoy a strong travel insurance package, including up to 21 days of out-of-province/country medical emergency coverage, flight delay insurance, lost/delayed baggage insurance, and even hotel/motel burglary insurance for stays within the US and Canada
- Double Aeroplan points: Get double the Aeroplan points when using this card along with your Aeroplan card at participating retailers
Cons
- Annual fee: The card’s annual fee is $139, which is slightly higher than the $120 typically found on comparable rewards cards
- Complex points program: The Aeroplan points program isn’t the most straightforward, and it can take some effort to understand how to best maximize points. Note that Aeroplan points can only be redeemed on Air Canada and Star Alliance Members
Eligibility requirements
Minimum credit score: 660
Minimum income: $60,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 22.99%
Balance transfer: 22.99%
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Balance transfer credit card signup offers and promotions
Featured
4.5 Ratehub rated
Balance transfer offer
for the first 12 months. 17.99% after promo.
- Pay $325.00/mo
during the promo to pay off $3,900 transferred balance
- 3% Balance transfer fee
A fee of $117 will be added to your balance
- Annual fee
$0
Perks
- Ratehub.ca’s 2023 Award Winner – Best Low Interest Credit Card and Best Balance Transfer Credit Card
- This offer is not available for residents of Quebec.
- No annual fee
- Standard Annual Interest Rates of 12.99% on purchases, 17.99% on balance transfers✪, and 24.99% on cash advances
- You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.
- This card is made from 100% recycled plastic
- Around-the-clock fraud protection
- Use available credit on your credit card to transfer funds right to your chequing account.
Apply for the MBNA True Line® Mastercard® credit card today.
Ratehub’s take
For those looking to reduce their credit card debt, the MBNA True Line Mastercard comes packed with helpful features. The card has no annual fee and a below-average purchase interest rate of 12.99% on purchases. For anyone trying to work themselves out of debt and rebuild their credit score, the 0% promotional annual interest rate for 12 months provides an excellent head start.
Pros
- Best promotional balance transfer offer on the market: A promotional balance transfer of 0% is available for a full year helping pay down or eliminate credit card debt (note: there is a 3% balance transfer fee)
- Fixed low interest rate: The low interest rate of 12.99% is fixed and won’t change regardless of your credit rating, income, or the bank’s prime lending rate
- Accessibility: No annual fee and no income requirements to qualify making it very accessible
Cons
- Lack of additional benefits: This card does not include insurance or other benefits
- Restrictions for Quebec residents: Offer not available to residents of Quebec
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 12.99%
Cash advance: 24.99%
Balance transfer: 0.00% for the first 12 months. 17.99% after promo.
Featured
4.5 Ratehub rated
Balance transfer offer
- Pay $390.00/mo
during the promo to pay off $3,900 transferred balance
- 1% Balance transfer fee
A fee of $39 will be added to your balance
- Annual fee
see Details
Perks
- Transfer your credit card balance of $100 or more– Get 0% interest for up to 10 months with a 1% transfer fee† and a two year annual fee rebate†
- Check full offer details below†
- Transfer your credit card balance of $100 or more and get 0% interest for up to 10 months with a 1% transfer fee†
Transfer up to 50% of your assigned credit limit†
If you choose to carry a balance and you make your minimum payments on time, a balance transfer could save you money on interest - Take advantage of this 0% introductory interest rate on balance transfers of $100 or more for your first 10 months.
- You’ll only have to pay a 1% fee† when you transfer your balance from another card to the CIBC Select Visa Card
- This balance transfer offer is only available at the time of your online application.† Simply tick the checkbox to select the balance transfer option when you’re filling out your application.
- Once you take advantage of this offer, you will have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.
- Balance transfers of amounts less than $100 are not eligible for this promotional balance transfer offer and will be subject to the regular interest rate for Cash Advances applicable to your account.
- Save over $600 with CIBC and Skip
Get a 12-month Skip+ free trial and other exclusive benefits when you link your CIBC Select Visa Card with Skip.† - Save on gas with CIBC and Journie Rewards
- Link and use your CIBC Select Visa Card with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- Purchase Interest Rate – 13.99%
- Ongoing Balance Transfer APR – 13.99%
- Cash advance Interest – 13.99%
- †Terms and Conditions Apply. Select Apply Now to learn more.
Ratehub’s take
The CIBC Select Visa tops our list for best balance transfer cards, offering a below-average interest rate of 13.99% across all transactions. With a low annual fee, a strong welcome bonus, and additional benefits like extended warranty and purchase protection, it is a strong choice for efficiently managing credit card debt.
Pros
- Low APR across the board: Below-average APR of 13.99% across the board on purchases, balance transfers, and cash advances
- Affordable annual fee and readily accessible: Low $29 annual fee (which is rebated for the first two years) and has a minimum household income requirement of just $15,000 making it accessible to most Canadians
- Free secondary cards: Get up to three free secondary cards, enhancing flexibility for shared finances
- Included travel coverage: One of the few low interest cards to offer additional travel coverage in the form of up to $100,000 in common carrier accident insurance
- Additional benefits: Access additional benefits including extended warranty, purchase protection, and access to CIBC’s 24/7 customer service team
Cons
- Limited perks: As a low interest credit card, the CIBC Select Visa doesn’t offer much in the form of perks
- Online exclusive offer: The balance transfer offer is exclusively available to new cardholders applying online
- Transfer limit restrictions: You can only transfer 50% of your assigned credit limit (e.g. if you’re approved for the CIBC Select Visa with a $2,000 credit limit, you can only transfer up to $1,000 from another credit card)
Eligibility requirements
Minimum credit score: 660
Minimum income: $15,000/yr
Interest rates
Purchase interest: 13.99%
Cash advance: 13.99%
Balance transfer: 0.00% for the first 10 months. 13.99% after promo.
Annual fee
$29
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Premium credit card signup offers and promotions
Featured
First year reward
based on spending $2,200/mo after $599 annual fee
- Earn rewards
1.25pts – 3pts / dollar spent
- Annual fee
$599
Perks of the American Express® Aeroplan®* Reserve Card
| Perks | Details | |
|---|---|---|
| Lounge access | Included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- New American Express® Aeroplan®* Reserve Cardmembers can earn up to 85,000 Aeroplan points.
- Earn 60,000 Aeroplan points after spending $7,500 in purchases on your Card within the first 3 months
- Plus, earn an additional 25,000 Aeroplan points when you spend $2,500 in purchases in month 13
- That’s up to $2,600 or more in value when you combine your welcome bonus points and card benefits
- Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points. Enjoy even more at over 300,000 hotel properties worldwide
- Receive up to $100 CAD in statement credits every four years when a NEXUS application or renewal fee is charged to your American Express Aeroplan Reserve Card
- Highest Air Canada earn rate on an Aeroplan payment card in Canada: Earn 3X the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
- Standard Earn Rate: Earn 2X the points on eligible Dining and Food Delivery purchases in Canada and earn 1.25X the points on everything else
- Get through the airport quicker with Air Canada Priority Check-In, Air Canada Priority Boarding and Air Canada Priority Baggage Handling
- Receive one Annual Worldwide Companion Pass when you spend $25,000 in net purchases prior to your Card anniversary date; your Pass entitles you to buy an accompanying Air Canada economy class ticket for a companion at a fixed base fare from $99 to a maximum of $599 CAD (plus taxes, fees, charges, and surcharges)
- Enjoy access to select Air Canada Maple Leaf LoungesTM* and Air Canada CaféTM in North America for you and a guest, with a same day ticket on a departing Air Canada or Star Alliance flight
- Enjoy your eligible first checked bag free for up to 9 people travelling on the same reservation on Air Canada flights
- Roll over any unallocated Aeroplan EliteTM* Status Qualifying Miles and unused eUpgrade Credits to the following year to enjoy during your travels
- Get access to more than 1,200 Priority PassTM airport lounges and enjoy an oasis of comfort before your flight, regardless of your airline or cabin class
- Amex ExperiencesTM opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more
- Get more from your travel experience at Toronto Pearson International Airport with:
- Access to Pearson Priority Security Lane
- Complimentary valet service at the Express Park and Daily Park
- 15% discount on parking rates at the Express Park and Daily Park
- 15% discount on Car Care Services
- Insurance Coverage: whether you’re shopping nearby or travelling abroad, you can feel confident knowing you can be taken care of
- American Express® Aeroplan®* Reserve Card is made from precision cut and engraved 13g metal – it’s the perfect companion on your next exceptional journey
- 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.
Ratehub’s take
The American Express Aeroplan Reserve Card is a top-tier Aeroplan credit card, offering a large welcome bonus and a blend of premium perks from both Air Canada and American Express. If you like VIP treatment while traveling, this card definitely delivers.
Pros
- Premium travel benefits: Enjoy exclusive perks with Air Canada, such as priority boarding, check-in, and a free first checked bag on all Air Canada flights. Plus, complimentary visits to Air Canada Maple Leaf Lounges within North America
- Comprehensive insurance coverage:The American Express Aeroplan Reserve Card offers a wide array of insurance coverage, including travel insurance for Aeroplan flight rewards and 11 types of coverage such as flight delay, baggage delay, and hotel burglary
Cons
- High annual fee: While the card offers impressive perks, the annual fee is steep at $599. Consider maximizing the benefits to offset this cost
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Subpar rewards rates: Despite the high annual fee, the card doesn’t have the best earn rates, especially compared to other Aeroplan cards. It may not be the most rewarding unless you frequently fly with Air Canada or dine out often
Eligibility requirements
Minimum credit score: 725
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 21.99%
Balance transfer: N/A
Featured
5.0 Ratehub rated
Best for Premium perks
First year reward
based on spending $2,200/mo after $799 annual fee
- Earn rewards
1pt – 2pts / dollar spent
- Anniversary bonus
30,000 points (a $300 value)
- Annual fee
$799
Perks of the American Express® The Platinum Card®
| Perks | Details | |
|---|---|---|
| Lounge access | Complimentary access; 1,400 lounges | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for first 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $85,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | $2,500 per person, $5,000 per trip | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | $2,500 per person, $6,000 per trip | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $1,000; delays over 4 hours | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Combined maximum $1,000 | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Up to $1,000; delays of 6 hours or more | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Up to $1,000 within 120 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Ratehub.ca’s 2023 Award Winner – Best Perks Credit Card
- Unlock special experiences with the Platinum Card®
- Earn up to 100,000 Membership Rewards® points – that’s up to $1,000 towards a weekend away
- New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership
- Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership
- Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada, 2 points for every $1 in Card purchases on eligible travel, and 1 point for every $1 in all other Card purchases
- Access a $200 Annual Travel Credit through American Express Travel Online or Platinum® Card Travel Service
- Enjoy a $200 Annual Dining Credit at some of Canada’s best restaurants
- Unlock $200 or more in additional value with Member extras. You can earn statement credits for qualifying purchases with participating brands
- Take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1,400 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
- Enjoy flexible ways to use your points such as statement credits for any eligible purchase charged to your Card, new travel purchases booked on American Express Travel Online through the Flexible Points Travel Program, and eligible flights through the Fixed Points Travel Program
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- Enjoy complimentary benefits that offer an average value of $600 USD at over 1,500 extraordinary properties worldwide when you book Fine Hotels + Resorts
- Platinum Cardmembers can enjoy access to special events and unique opportunities
- Enjoy premium benefits at the Toronto Pearson Airport
- You will also have access to many leading hotel and car rental companies’ loyalty programs. Our partners include Marriott International, Hilton Hotels and Resorts, Hertz and Avis
- Interest applies in accordance with your Cardmember Agreement, Information Box, and Disclosure statement if the total New Balance is not paid by the Payment Due Date each month. All payments must be received by the Payment Due Date shown on the monthly statement
- 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
Ratehub’s take
While the American Express Platinum card’s annual fee is steep, the premium travel perks arguably outweigh the cost to use it. You’ll enjoy free, unlimited airport lounge access (while most other cards only offer a free membership or a few passes per year), hotel upgrades, a valuable annual travel and dining credit, and more.
Pros
- Unlimited lounge access: Enjoy free, unlimited lounge visits at over 1,400 lounges across the world with the
- American Express Global lounge collection
- Strong travel insurance offering: Includes everything from out-of-province emergency medical to $500,000 travel accident insurance
- Stretch your points values further: Transfer points to other travel loyalty programs at a 1:1 ratio for increased value and flexibility
- Upgraded gold hotel status with Marriott Bonvoy and Hilton Honors and deals on car rentals through American Express Online
Cons
- Very high annual fee
- Doesn’t waive foreign transaction fees, which can really add up when you’re traveling
- This is a charge card, so you’ll have to pay off whatever you spend in full each month or face a high interest rate
- American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
Eligibility requirements
Minimum credit score: 725
Minimum income: $30,000/yr
Interest rates
Purchase interest: N/A
Cash advance: N/A
Balance transfer: N/A
Featured
First year reward
based on spending $2,200/mo after $399 annual fee
- Earn rewards
2pts / dollar spent
- Welcome bonus
60,000 points (a $600 value)
- Annual fee
$399
Perks of the Scotiabank®* Platinum American Express® Card
| Perks | Details | |
|---|---|---|
| Lounge access | Included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn up to $2,500* in value in the first 14 months, including up to 80,0001 bonus Scene+ points
- Plus earn 2X Scene+ points for every $1 spent on all other eligible purchases
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
- No Foreign Transaction Fee
- Comprehensive Travel Insurance coverage
- Mobile Device Insurance coverage
- 10 complimentary Airport Lounge Passes per year
- Platinum VIP Offers+
- American Express Invites®
- Premium Complimentary Concierge Services
- Rates, fees and other information are effective as of January 3, 2025. Subject to change
Ratehub’s take
The Scotiabank Platinum American Express card offers a unique combination of benefits: rewards, travel perks like airport lounge access and a low purchase interest rate – but you pay for those benefits with the higher annual fee.
Pros:
- Low interest rates with added perks: Not only do you get a below-average interest rate but you also get Scene points, airport lounge access, travel insurance and other perks
- Save on foreign transaction fees: You won’t be charged 2.5% in forex fees with this card on top of the exchange rate
Cons:
- Very high annual fee: The annual fee is very high compared to other low-interest cards, some of which have a $0 annual fee
- Lower rewards earn rate: You’ll get a lower return on your spending with this card than with some other rewards credit cards, although for a low-interest card, earning rewards at all is rare
Eligibility requirements
Minimum credit score: 760
Minimum income: $12,000/yr
Interest rates
Purchase interest: 9.99%
Cash advance: 9.99%
Balance transfer: 22.99%