The best Mastercard credit cards in Canada for 2026
Natasha Macmillan, Business Unit Director - Everyday Banking
March 11, 2026
Explore the best variety of Mastercard credit cards, tailored to meet your unique needs. Compare, choose, and apply today for a card that matches your purchasing habits.
Discover the right credit card for you with CardFinder
Find Canada’s best credit cards suited for you in 60 seconds! View cards and exclusive offers you’re likely to qualify for without affecting your credit or needing a SIN
Compare Canada’s best Mastercard credit cards
advertisement
Mastercard Credit Cards in Canada: FAQ
What is the best Mastercard credit card in Canada?
One of the best Mastercard credit cards in Canada for everyday rewards is the BMO CashBack World Elite MasterCard. It offers industry-leading earn rates including 5% cash back on groceries, 4% on transit, 3% on gas and EV charging, and 2% on recurring bill payments. Cardholders can also redeem cash back starting at just $1, and the card typically includes a strong welcome offer along with a first-year annual fee waiver.
What is the best no-fee Mastercard for everyday spending?
The Tangerine Money-Back Credit Card is one of the best no-fee Mastercard options for everyday spending in Canada. It allows cardholders to earn 2% cash back in two spending categories of their choice, such as groceries, gas, restaurants or recurring bills, and 0.5% on all other purchases. If you deposit your rewards into a Tangerine Savings Account, you can unlock a third 2% category, making it even more rewarding. Because the card has no annual fee and flexible rewards categories, it’s a strong choice for people who want to earn cash back on everyday purchases without paying for a premium card.
What are the differences between a Mastercard and a Visa?
The main difference between Mastercard and Visa is the payment network they operate on. Both networks are widely accepted around the world and provide the infrastructure that allows credit card payments to be processed. The specific rewards, benefits, and interest rates of a credit card are determined by the bank that issues the card, not the network itself. In practice, most consumers won’t notice a significant difference between using a Mastercard or Visa for everyday purchases.
What are the tiers of Mastercard credit cards?
Mastercard credit cards are generally issued in three main tiers: Standard Mastercard, World Mastercard, and World Elite Mastercard. Standard cards usually have fewer perks and lower eligibility requirements. World Mastercard cards include additional benefits such as enhanced rewards or travel protections. World Elite Mastercard cards offer the most premium benefits, such as stronger rewards rates, travel perks, and expanded insurance coverage, but they typically require higher income thresholds to qualify.
Can you earn travel rewards with a Mastercard credit card?
Yes, you can earn travel rewards with many Mastercard credit cards in Canada. Cards like the BMO Ascend World Elite Mastercard allow cardholders to earn points on both travel and everyday spending. These points can then be redeemed for travel purchases such as flights, hotels, cruises, and vacation packages through the BMO Rewards program. Many travel Mastercard cards also include additional perks, such as airport lounge access and travel insurance, making them popular options for Canadians looking to offset travel costs through their everyday spending.
Is Mastercard accepted everywhere in Canada?
Yes, Mastercard is widely accepted throughout Canada. Most retailers, restaurants, online stores, and service providers accept Mastercard payments, making it one of the most commonly used credit card networks in the country. Mastercard is also accepted internationally in millions of locations worldwide, which makes it convenient for both everyday purchases and travel. In practice, Canadians will find that Mastercard acceptance is comparable to Visa at most merchants.
Compare Mastercard credit cards in Canada for 2026 - by category
| Mastercard credit card | Best for | Annual fee |
| BMO CashBack World Elite Mastercard | Cash back | $120 (first year waived) |
|---|---|---|
| Tangerine Money-Back Credit Card | No-fee cash back | $0 |
| PC World Elite Mastercard | Groceries | $0 |
| MBNA True Line Gold Mastercard | Low interest | $39 |
| BMO Ascend World Elite Mastercard | Travel | $150 (first year waived) |
| MBNA Rewards Platinum Plus Mastercard | No-fee for travel points | $0 |
| CIBC Adapta Mastercard | No-fee rewards | $0 |
| National Bank World Elite Mastercard | Travel insurance | $150 |
| BMO Preferred Rate Mastercard | Balance transfers | $29 (first year waived) |
| BMO CashBack Mastercard - Student | Student | $0 |
| PC Financial Mastercard | Store credit card | $0 |
| Rogers Red World Elite Mastercard | US Shopping | $0 |
The best Mastercards in Canada for 2026
Mastercard is the second most popular credit card company in Canada. It’s also the most widely accepted. From big-box retailers, like Costco, to smaller mom-and-pop shops and corner stores, Mastercard is accepted at a number of retailers where swiping a Visa or American Express credit card just won’t cut it.
Mastercards are issued in three tiers: World Elite (typically, premium rewards credit cards), World (mid-level rewards cards), and Standard Mastercards (basic no fee, or low interest cards).
Below, we break down our picks of the best Mastercard credit cards in Canada based on card type and spending preferences.
Best overall and cash back Mastercard
Featured
Best for Everyday spending
First year reward
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1% – 5% / dollar spent
- Welcome bonus
Earn up to $480
- 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. |
| No foreign exchange 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 $500,000 per insured 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 | 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 | up to $2,500 per Insured Person to an overall maximum of $5,000 per Account | 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 a maximum of $2,000 per Insured Person | 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 | Up to $1,000 per occurrence for all insured persons combined | 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 ninety (90) days from date of purchase | 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 | 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
- Get up to $650 in value including $40 cash back each month in your first year. Plus we’ll waive the $120 annual fee in the first year.*
Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.* - 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* - Plus, get 1% cash back on all other purchases* with no limit on how much cash back you can earn!
- Save up to 20% on National Car Rental®†† and Alamo Rent A Car®†† and up to 5% on Enterprise Rent-A-Car®†† at locations worldwide using the Car Rental Booking tool.*
- Purchase Protection*
- Extended Warranty*
- Complimentary membership in Mastercard Travel Pass provided by DragonPass.*
- Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
- BMO CashBack World Elite Travel and Medical Protection*, with 8-day out-of-province/out-of-country emergency medical benefits – up to $5 million in coverage, and more.
- Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada.*
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- 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
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: 725
Minimum income: $80,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 0.00% for the first 12 months. 23.99% after promo.
The BMO CashBack World Elite Mastercard is one of the best Mastercard credit cards for everyday cash back, especially for households that spend heavily on essentials. It offers an industry-leading 5% cash back on groceries, 4% on transit, 3% on gas and EV charging, and 2% on recurring bills, giving cardholders strong value across the categories where many Canadians spend the most. The card also comes with a strong welcome offer: Get up to $650 in value including $40 cash back each month in your first year. Plus we’ll waive the $120 annual fee in the first year. Plus, get a 0% introductory interest rate on Balance transfers for 12 months with a 2% transfer fee.*.
What helps this card stand out is that it pairs high earn rates with flexible redemptions: cash back can be redeemed starting at just $1, and there’s no cap on total base cash back earned. The main drawback is that the boosted earn rates are subject to monthly spending caps, and the income requirement is high. Still, for eligible cardholders looking to maximize cash back on everyday spending, this is one of the strongest Mastercard options available.
Best no-fee cash back Mastercard
Featured
4.5 Ratehub rated
Best for Flexible spending
First year reward
based on spending $2,200/mo after $0 annual fee
- Earn rewards
0.5% – 10% / dollar spent
- Welcome bonus
Earn up to $100
- Annual fee
$0
Perks of the Tangerine Money-Back Credit 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. |
| No foreign exchange 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 | up to 31 consecutive 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 | 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 | combined $60,000 lifetime limit with extended warranty | 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. Combined maximum of $60,000 with purchase assurance | 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
- Ratehub.ca’s 2023 Award Winner – Best No Fee Cash Back Credit Card
- Get the Tangerine Money-Back Credit Card and make it rain with Rewards. Apply by April 30, 2026 and earn an extra 10% cash back (up to $100) when you spend $1,000 within your first 2 months.* That’s on top of earning 2% Money-Back Rewards in up to 3 Categories* of your choice, like gas, groceries and home improvement. *Conditions apply.
- Transfer and save
During your first 30 days, transfer balances up to your credit limit and pay an interest rate of only 1.95% on the transferred balance for 6 months (22.95% after that). A Balance Transfer fee of 1% on the amount transferred will apply.11 - Spend confidently with the Tangerine Money-Back Credit Card. Have peace of mind knowing you’re covered with Purchase Assurance and Extended Warranty** of up to $60,000 (lifetime maximum).
Ratehub’s take
While the Tangerine Money-Back Credit Card is a no annual fee card, what really sets it apart is the ability to customize your rewards. 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 13 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, plus your rewards are unlimited and don’t have monthly or annual maximums
- 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: 20.95%
Cash advance: 22.95%
Balance transfer: 1.95% for the first 6 months. 22.95% after promo.
The Tangerine Money-Back Credit Card is one of the best no-fee Mastercard credit cards for cash back thanks to its customizable rewards structure. Cardholders earn unlimited 2% cash back in two spending categories of their choice — from a list that includes groceries, restaurants, gas and more — along with 0.5% on all other purchases. If you deposit your rewards into a Tangerine Savings Account, you can unlock a third 2% category, making the card even more rewarding for everyday spending.
What sets this card apart is its flexibility. Unlike most no-fee rewards cards, you can change your bonus categories to match your spending habits and receive your cash back every month rather than once a year. While the base earn rate outside bonus categories is modest, the ability to customize rewards makes it one of the most versatile no-fee Mastercard options available.
Best Mastercard for groceries
Featured
First year reward
based on spending $2,200/mo after $0 annual fee
- Earn rewards
10pts – 45pts / dollar spent
- Welcome bonus
Earn up to 20,000 points (a $20 value)
- Annual fee
$0
Perks of the PC® 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. |
| No foreign exchange 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 | Covers up to $1,000,000 for trips up to 10 days from date of departure, for those under age 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 | Collision damage and theft protection for your car rental needs. | 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 | In the event of theft, loss or damage in the first 90 days when you pay in full with your PC Financial Mastercard credit card. | 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 | Doubles the manufacturer's regular warranty for up to an additional year on items purchased with your PC Financial Mastercard credit card. | 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 20,000 PC Optimum™ welcome points when you spend $50 or more at participating stores within 60 days of account approval.**
- Award-winning, no annual fee rewards credit card
- Get up to $750 in PC Optimum™ points every year (for illustrative purposes only; results may vary.)
- Earn at least 3 cents per litre in PC Optimum™ points on gas at Esso™ and Mobil™ stations
- Earn 45 PC Optimum™ points per $1 spent at Shoppers Drug Mart® stores
- Earn 30 PC Optimum™ points for every $1 spent at Loblaw affiliated grocery stores
- Earn 30 PC Optimum™ points for every $1 spent at Joe Fresh® stores
- Earn 10 PC Optimum™ points for every $1 spent everywhere else you shop
- No limits on points earning and points don’t expire
Ratehub’s take
If you are looking for a credit card that will help you save money on groceries, the PC World Elite Mastercard is a great choice, especially for those who frequently shop at Loblaws-owned stores and Shoppers Drug Mart.
Pros
- No annual fee: For a rewards card, charging no annual fee is a major perk and can help you ramp up your earnings even more
- High return on spending: Your points are valuable at Loblaws-affiliated stores and for gas purchases because of high earn rates on everyday spending
- Points stacking: Stack your points by showing your PC Optimum card at Loblaw-affiliated stores and paying with your PC Financial World Elite Mastercard
- Competitive earn rates: Earn rates are high compared to other no-fee credit cards
- Added travel insurance: Offers travel insurance benefits adding value to cardholders
Cons
- Limited rewards outside of Loblaws: While PC Financial Mastercards offer excellent rewards at Loblaw stores, they do not provide great benefits when shopping anywhere else
- Restrictive redemption rules: Points can only be redeemed in increments of 10,000 (10,000 = $10). Points cannot be used to pay for purchases at non-Loblaws retailers or redeemed against a statement balance. Plenty of other rewards cards on the market offering more flexibility
Eligibility requirements
Minimum credit score: 560
Minimum income: $80,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 22.97%
Balance transfer: N/A
The PC World Elite Mastercard is one of the best Mastercard credit cards for groceries, particularly for shoppers who frequently visit Loblaws-owned stores. Cardholders earn 30 PC Optimum points per dollar spent at participating grocery banners, including Loblaws, No Frills, Real Canadian Superstore and Fortinos, which works out to roughly 3% back in store credit. The card also earns an impressive 45 points per dollar (about 4.5%) at Shoppers Drug Mart locations and 30 points per litre at Esso and Mobil gas stations.
The main limitation is that rewards are tied to the PC Optimum program and can only be redeemed at participating retailers. However, with thousands of grocery and pharmacy locations across Canada that accept PC Optimum points, the card offers strong everyday value for loyal Loblaws and Shoppers shoppers.
Best low interest Mastercard
Featured
Purchase interest rate
- Pay $5/mo
Based on a credit balance of $500
- Annual fee
$39
Perks
- $39 annual fee
- Standard Annual Interest Rates of 10.99% on purchases, 13.99% on balance transfers✪ and 24.99% on cash advances
- This offer is not available for residents of Quebec.
- 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.
Ratehub’s take
The MBNA True Line Gold Mastercard offers the lowest fixed interest rate for a credit card in Canada. Despite the annual fee, which some other low-interest cards don’t charge, the super-low rate makes the card a great choice for those who carry a balance.
Pros:
- Lowest fixed interest rate: Low purchase rate which doesn’t change with the prime rate or your credit score.
Cons:
- Few perks: Besides savings on rental cars, there aren’t any perks or rewards associated with this card
- Limited insurance: Aside from the standard purchase assurance and extended warranty, this card doesn’t have trip coverage or rental car insurance which are valuable for users
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 10.99%
Cash advance: 24.99%
Balance transfer: 13.99%
The MBNA True Line Gold Mastercard is one of the best Mastercard credit cards for low interest, offering one of the lowest fixed purchase rates available in Canada. Cardholders benefit from a purchase interest rate of 10.99%, which is significantly lower than the typical credit card rate of around 20%. For those who occasionally carry a balance, this lower rate can translate into meaningful savings on interest charges.
This card is designed primarily for affordability rather than rewards. While it doesn’t offer points, cash back or extensive travel perks, its low interest rate is the key benefit. For cardholders who prioritize keeping borrowing costs down rather than maximizing rewards, the True Line Gold is a strong option.
Also consider:
Featured
4.5 Ratehub rated
Purchase interest rate
- Pay $5/mo
Based on a credit balance of $500
- 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.
The MBNA True Line Mastercard is another strong option for those looking for a low-interest Mastercard without an annual fee. It offers a purchase interest rate of 12.99%, which is still considerably lower than most standard credit cards. This makes it a practical choice for cardholders who may carry a balance but want to avoid paying a yearly fee.
The card also frequently features a promotional balance transfer offer, including a 0.001 interest rate for a limited introductory period with a transfer fee. While it doesn’t include rewards or premium perks, its low rates and promotional offers make it a useful tool for managing existing credit card debt.
Best Mastercard for travel
Featured
Best for Travel perks
First year reward
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Annual fee
$150 $0 first year waived
Perks of the BMO Ascend™ World Elite®* Mastercard®*
| Perks | Details | |
|---|---|---|
| Lounge access | Complimentary membership in Mastercard Travel Pass provided by DragonPass, with four annual complimentary passes | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange 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 $500,000 per insured 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 21 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 | Up to $1,500 per person | 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 $2,000 per person | 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 a maximum of $500 per trip for all insured persons combined, in the event of a flight delay of more than four (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 | up to $500 per insured person to a maximum of $1,000 per trip for all insured persons combined | 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 $500 per insured person, to a maximum of $1,000 per trip for all insured persons combined, for the purchase of essential items; 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 | Up to $1,000 per occurrence for all insured persons combined | 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 | 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 | 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
- 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
- Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
- Extended Warranty*
- Purchase Protection*
- BMO Ascend World Elite Total Travel and Medical Protection:
Get Collision Damage Waiver benefits on rental cars, 21 days of Out-of-Province/Out-of-Country Emergency Medical coverage of up to $5 million, and more.* - Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- 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
The BMO Ascend World Elite Mastercard is a top choice among seasoned travellers, particularly those who prefer a Mastercard, and who like to frequently fly and dine out. This card offers a suite of perks that cater to travel enthusiasts.
Pros
- Earn points: Earn three points per $1 spent on restaurant, entertainment purchases, and recurring bills, and one point per $1 spent on everything else
- Comprehensive insurance package: Recognized for one of the best insurance packages in the market, including $5 million in out-of-country insurance, exceeding the standard $1 million in coverage offered by most other cards
- 24/7 concierge services: Enjoy around-the-clock concierge services for your travel needs
- Airport lounge access: Receive complimentary membership in Mastercard Travel Pass, including four annual complimentary passes
- Redemption flexibility: Enhanced flexibility to redeem points for flights on virtually any airline with no blackout dates (points can be used to cover taxes and fees as well)
Cons
- Income requirements: The card’s minimum personal income of $80,000 may limit accessibility for some users
- Lower point value: While BMO points are flexible, they are worth less than other travel rewards programs (usually around 1 cent per point) at 0.67 cents per point
Eligibility requirements
Minimum credit score: 725
Minimum income: $80,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 23.99%
The BMO Ascend World Elite Mastercard is one of the best Mastercard credit cards for travel thanks to its strong points earn rates and premium travel perks. Cardholders earn 5 BMO Rewards points per dollar on travel purchases, 3 points per dollar on dining, entertainment and recurring bills, and 1 point per dollar on all other spending. This makes it easy to accumulate points quickly through everyday purchases.
The card also delivers excellent travel benefits, including a complimentary Mastercard Travel Pass membership provided by DragonPass and four annual airport lounge passes. In addition, cardholders receive comprehensive travel insurance coverage, including emergency medical, trip interruption and baggage protection. While the card carries an annual fee, the travel rewards and perks can provide significant value for frequent travellers.
Best no-fee Mastercard for travel points
Featured
4.5 Ratehub rated
Best for Everyday spending
First year reward
based on spending $2,200/mo after $0 annual fee
- Earn rewards
1pt – 4pts / dollar spent
- Welcome bonus
Earn up to 10,000 points (a $50 value)
- Annual fee
$0
Perks of the MBNA Rewards Platinum Plus® 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. |
| No foreign exchange 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 | 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
- This offer is not available for residents of Quebec.
- Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days, and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent annually in the applicable category. 1 point‡ for every $1 spent on all other eligible purchases
- 5,000 bonus points†† ($25 in cash back value) after you make $500 or more in eligible purchases within the first 90 days of your account opening
- 5,000 bonus points††($25 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening
- Each year, you will receive Birthday Bonus Points‡ equal to 10% of the total number of Points earned in the 12 months before the month of your birthday, to a maximum Birthday Bonus each year of 10,000 Points
- Redeem points‡ for cash back, brand-name merchandise, gift cards from participating retailers, charitable donations, and travel.
- Standard Annual Interest Rates of 21.99% on eligible purchases, 22.99% on balance transfers, and 22.99% on cash advances
- Mobile Device Insurance***
- With Mobile Device Insurance, you’ve got up to $1,000 in coverage for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown
- No annual fee
Apply for the MBNA Rewards Platinum Plus® Mastercard®.
Ratehub’s take
The MBNA Rewards Platinum Plus manages to punch above its weight, offering impressive rewards on everyday spending despite the fact it has no annual fee or any specific income requirements.
The MBNA Points program is also flexible and easy-to-understand, making it a perfect fit for points beginners or anyone who doesn’t want to deal with elaborate rewards charts or maps. The drawbacks: the card doesn’t offer much in the form of perks or travel emergency insurance and comes with rewards caps that can put a ceiling (albeit a mostly negligible one) on your ability to rack up bonus points.
MBNA Rewards Platinum Platinum – Quick review
The Pros
- The MBNA Rewards Platinum Plus has no annual fee.
- It earns up to 4 points per dollar spent (2% in travel rewards) on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days , and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent annually in the applicable category.
- You’ll earn at least 1 point per dollar (1% in travel rewards) on all other everyday purchases. In comparison, many other no fee rewards cards start earning rewards from as little 0.5%.
- MBNA points values are easy to calculate. 1 point = 1 cent when redeemed for travel, or 1 point = 1% in travel rewards.
- You can redeem MBNA points from virtually any airline of your choice.
- Aside from travel rewards, MBNA points also offer great value on gift card redemptions (1 point = around 0.8 – 0.9 cents on gift cards).
- The card doesn’t come with any specific income requirements.
- Cardholders will receive mobile device insurance, purchase assurance and extended warranty benefits.
- As a Mastercard, the MBNA Rewards Platinum Plus is accepted virtually everywhere.
The Cons
- There is an annual spend cap on bonus categories. You’ll earn 4x the points eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days, and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent – after which you’ll earn the standard 1 point per dollar.
- You must use MBNA Rewards’ proprietary website when redeeming points, which means you can’t use points to book travel directly from an airline or hotel provider.
Everyday earn rate
The MBNA Rewards Platinum Plus lets you rack up points faster than virtually any other no annual fee travel credit card in Canada.
You’ll earn:
- 4 points per dollar on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 day, and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent annually in the applicable category
- 1 point per dollar on everything else
When considering most rival no fee travel credit cards will earn you the equivalent of 0.5 to 1 point per dollar on everyday purchases, the MBNA Rewards Platinum really manages to stand out.
Here’s a break down how much you can earn on the credit card based on an average monthly spending scenario of $1,500 in the following categories:
| Spending Category | Monthly Spending |
| Groceries | $240 |
| Gas | $180 |
| Restaurants | $250 |
| Bills | $200 |
| Travel | $100 |
| Entertainment | $60 |
| Pharmacies | $20 |
| Everything else | $500 |
| Total rewards after 1 year | $266 |
There is a small caveat worth calling out, however: the bonus categories have an annual spending cap. You’ll earn 4 points per dollar on the first 90 days on on eligible restaurant, grocery, digital media, membership and household utility purchases. If you spend over $1,000 within a year in a particular category, like say groceries, you’ll earn 1 point per dollar on any grocery purchases from $5,001 and beyond till the end of the year.
While the annual spending caps are a drawback, there’s some silver lining.
- For one, the caps are set reasonably high at $10,000 annually, which means they won’t come into effect at all unless you spend an average of over $415 per month on groceries, gas, or dining. In other words, you’ll likely earn double the points on all or the vast majority of your spending in bonus categories.
- Secondly, even if you do hit the cap, you’ll still continue to earn rewards on bonus categories but just at a slightly lower rate of 1 point per dollar. That’s still a solid rewards rate that manages to out-earn most other no fee travel credit cards in Canada.
- Finally, the cap resets every year.
MBNA Points redemption
Points value overview
| Avg. value of 1 point | Avg. value of 10,000 points | |
| Travel | 1 cent | $100 |
| Gift cards | Avg. 0.8 – 09 cents | Avg. $80-$90 |
| Cash credits | 0.5 cents | $50 |
| Merchandise | Avg. 0.7 cents | Avg. $70 |
For travel
MBNA Rewards is first and foremost a travel points program, which means you’ll get the most value out of each MBNA point when redeeming for travel rewards including:
- Flights
- Vacation packages
- Hotel stays
- Car rentals
- Cruises
You’ll get a return of 1 cent per point (the equivalent of 1% cash back in travel savings) when using points for any of those aforementioned travel rewards. You can start redeeming for travel in increments of as little as 100 points, so you won’t have to rack a giant pile of points before you can start putting them to good use. You’ll also have the flexibility to book travel from virtually any airline, and won’t be resurrected to a limited number of partner carriers or worry about seat restrictions, black out dates or elaborate rewards charts.
There is a drawback though. You must use MBNA’s proprietary travel search engine and can’t price match or apply points against purchases you made on your own directly from an airline, hotel, or travel provider.
For gift cards
If you want to use points for rewards other than travel, you can get some pretty solid value when redeeming for gift cards.
On average, you’ll get around 0.8 to 0.9 cents per point on gift cards, which is only slightly less than what you’d typically get out of your points on travel rewards. That’s impressive, especially when considering some other points programs offer a quarter or even half as much value on gift card rewards versus travel redemptions.
The MBNA Rewards website includes quite a large catalogue of physical gift card and e-gift card options including: Amazon, Walmart, Wayfair, Home Depot, Hudson’s Bay, eBay, Uber, and more.
For cash credits
When using points for cash credits to pay off your credit card balance, you can redeem points in increments of 200 points for $1. That works out to 0.5 cents per point, which is half the value you’d get when using points for travel (1 cent) and about half what you’d get on gift card redemptions (0.8-0.9 cents).
When redeeming points for cash credits, you’ll also need to have at least 10,000 points accumulated.
All things considered, it’s better to use points for travel or gift cards, and if you’re looking for rewards to reduce your balance, a straight-up cash back credit card may be a better option.
For merchandise
The value of your points when redeeming for merchandise can vary considerably, depending on the item in question. Overall though, you’ll usually get around 0.7 cent per point. So if you’re planning on using points for non-travel rewards, it’s probably better to go the gift card route over redeeming for a specific item.
MBNA Rewards’s online merchandise catalogue is quite vast and covers virtually every product line – from electronics and toys to kitchen appliance and jewelry.
Fees, income requirements, and more
One of the best features of the MBNA Platinum Plus is its low barrier to entry – there are no annual fees and you won’t need to meet a specific income to get approved.
As per usual for a rewards credit card, you won’t owe any interest if you pay off your balance on time and in full every month, but if you do carry a balance from one month to the next, an annual purchase interest rate of 19.99% will kick in. Annual interest rates on cash advances is 24.99% while balance transfers is set at 22.99%, which is about average.
Side perks and insurance
Along with the basic coverage of purchase protection and extended warranties (up to one year) available on most credit card, the MBNA Platinum Plus also comes with purchase assurance.
With purchase assurance, most items you bought on your credit card will be covered in the event they’re damaged, lost or stolen within 90 days of the transaction date up to a lifetime value of $60,000. Note though, some items are excluded included art, jewellery, consumable goods, and several electronics.
The card also comes with three other major types of insurance including:
- Common carrier accidental death and dismemberment insurance: up to $1,000,000)
- Trip cancellation insurance / unexpected return home: up to $2,000
- Rental collision/damage waiver insurance: including up to $2,000 in personal effects coverage
The card’s rental car insurance, in particular, stands out for also offering personal effects coverage, which means if your rental car is stolen and some of your personal belongings along with it, you’ll receive some compensation for your belongings.
The one major drawback of the card’s insurance coverage is it doesn’t include any travel medical emergency coverage (e.g. coverage of healthcare bills if you’re sick while abroad), lost or delayed baggage insurance, or trip cancellation insurance. All things considered though, these benefits are rarely offered by other entry-level fee credit cards.
Bottom line
The MBNA Rewards Platinum Plus easily takes the top spot in our rankings as the best no fee travel card in Canada, and is an easy choice if you’re looking for an entry-level rewards card that costs nothing to carry and can help get a seat on a free or discounted flight faster.
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 22.99%
Balance transfer: 22.99%
The MBNA Rewards Platinum Plus Mastercard is one of the best no-fee Mastercard credit cards for travel points with its unusually strong rewards on everyday purchases without charging an annual fee. Cardholders earn 4 points per dollar on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days, then 2 points per dollar in those categories after that, with 1 point per dollar on all other purchases. It also comes with a welcome offer to give new cardholders a solid head start: earn 10,000 bonus points ($50 in cash back value). Plus, get 4 points per $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days.
The biggest strength of this card is its accessibility: there’s no annual fee, no specified minimum income requirement, and points can be redeemed for travel with a value that’s easy to understand. The trade-off is that bonus categories are capped annually, and travel redemptions must be made through MBNA’s platform. Even so, for anyone looking for a beginner-friendly travel card with strong everyday earning, this is one of the best no-fee Mastercard options on the market.
Best no-fee rewards Mastercard
Featured
3.0 Ratehub rated
First year reward
based on spending $2,200/mo after the annual fee
- Earn rewards
1pt – 2pts / dollar spent
- Welcome bonus
Earn up to 12,000 points (a $100 value)
- Annual fee
see Details
Perks of the CIBC Adapta™ 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. |
| No foreign exchange 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: Join and get up to $150 in value† with no annual fee.†
- Here’s how it adds up:
Receive a Welcome Bonus of 3,000 Adapta points after your first purchase (up to $25 value)†
Get 9,000 Adapta points when you spend $1,000 in the first 4 monthly statement periods (up to $75 value)†
Includes membership to Roadside Assistance† after you make your first purchase. Services include battery boosting, gas delivery, towing and more, offered by Dominion Automobile Association ($50 value)† - How do Adapta points work?
Each month, you’ll automatically earn:- 1.5 Adapta points for every dollar you spend in your top 3 spend categories.† or
- 2 Adapta points for every dollar you spend on eligible travel purchases made through CIBC by Expedia†; or
- 1 Adapta point for every dollar you spend on all other purchases.†
- What are Adapta points worth?
1,500 Adapta points are worth $10 when redeemed towards your credit card balance or a recent purchase.†
1,200 Adapta points are worth $10 when redeemed towards select CIBC financial products.† - Save over $600 with CIBC and Skip
Get a 12-month Skip+ free trial and other exclusive benefits when you link your CIBC Adapta Mastercard with Skip.† - Save on gas with CIBC and Journie Rewards
Link and use your CIBC Adapta Mastercard with Journie Rewards to save up to 10 cents per litre† at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.† - CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Adapta card within the last 12 months.†
- This offer is not available for residents of Quebec.
†Terms and Conditions Apply. Select Apply Now to learn more.”
Ratehub’s take
The CIBC Adapta Mastercard takes the hassle out of rewards earning: it automatically determines your top 3 out of 12 spend categories each month and awards bonus Adapta points on them, so you always get more rewards on your biggest purchases.
Pros
- Additional perks: Take advantage of included perks like roadside assistance and gas savings with Journie Rewards
- No annual fee for the primary cardholder, as well as up to 3 additional cardholders
Cons
- Limited redemption options: You can use your points on your credit card balance, or on payments or contributions towards eligible CIBC products
- Points are worth slightly less: Compared to dynamic rewards programs like Aeroplan, Adapta Points are worth slightly less
Eligibility requirements
Minimum credit score: 660
Minimum income: $15,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Annual fee
$0
The CIBC Adapta Mastercard is one of the best no-fee Mastercard credit cards for simple rewards earning. Instead of requiring cardholders to track rotating bonus categories, the card automatically identifies your top three spending categories each month and awards bonus Adapta points on those purchases. With 12 eligible categories in total, this feature helps ensure your biggest expenses consistently earn more rewards.
In addition to points earning, the card includes extra benefits such as roadside assistance and gas savings through the Journie Rewards program. While the rewards program may not offer the same high earn rates as some premium cards, the automatic bonus categories and lack of an annual fee make it a convenient option for everyday spending.
Best Mastercard for travel insurance
The National Bank World Elite Mastercard stands out as one of the best Mastercard credit cards for travel insurance thanks to its generous coverage periods and strong benefits for older travellers. Cardholders under 55 receive out-of-province emergency medical coverage for up to 60 consecutive days — significantly longer than the 21-day coverage period offered by most travel credit cards.
The card also includes a range of travel perks, including annual travel expense refunds for items like airport parking, seat selection and airline upgrades, along with access to the National Bank World Mastercard Lounge at Montréal-Trudeau Airport. While eligibility requirements and the annual fee place the card in the premium category, its extensive insurance coverage makes it a compelling option for travellers who want stronger protection on their trips.
Best Mastercard for balance transfers
Featured
Balance transfer offer
for the first 9 months. 15.99% after promo.
- Pay $433.33/mo
during the promo to pay off $3,900 transferred balance
- 0.99% Balance transfer fee
A fee of $39 will be added to your balance
- Annual fee
$29 $0 first year waived
Perks of the BMO Preferred Rate Mastercard®*
| Perks | Details | |
|---|---|---|
| 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. |
Other perks
- Get a 0% introductory interest rate on Balance Transfers for 9 months with a 0.99% transfer fee and we’ll waive the $29 annual fee for the first year.*
- Enjoy our lowest interest rate of 13.99% on purchases*
- Extended warranty and purchase protection.*
- Add another cardholder for free.*
- Zero Dollar Liability: protects you from unauthorized use of your credit card*
- Worldwide acceptance at over 30 million locations*
- Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- 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
The BMO Preferred Rate Mastercard stands out as an excellent choice for those looking for a balance transfer credit card with a low interest rate and added benefits. Despite charging an annual fee, the competitive 15.99% interest rate, along with other features, make it a compelling option.
Pros
- Additional cardholder protection: The Zero Dollar Liability provides protecting against against unauthorized purchases.This card also includes free extended warranty which doubles the manufacturer’s warranty up to one year and purchase protection
Cons
- Higher promotional balance transfer rate: This card has a higher promotional rate for balance transfers compared to other balance transfer credit cards
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 13.99%
Cash advance: 15.99%
Balance transfer: 0.00% for the first 9 months. 15.99% after promo.
The BMO Preferred Rate Mastercard is one of the best Mastercard credit cards for balance transfers thanks to its long promotional interest period and lower ongoing rates. New cardholders benefit from a promotional balance transfer rate for the first nine months, giving them additional time to pay down existing credit card debt.
Even after the promotional period ends, the card’s regular purchase interest rate of 13.99% is lower than many standard credit cards. While the card doesn’t offer rewards or premium perks, it does include basic protections such as extended warranty and purchase protection. For cardholders focused on reducing interest costs and consolidating debt, the Preferred Rate Mastercard is a practical option.
Best student Mastercard
Featured
Best for Groceries
First year reward
based on spending $2,200/mo after $0 annual fee
- Earn rewards
0.5% – 3% / dollar spent
- Welcome bonus
Earn up to $125
- Annual fee
$0
Perks of the BMO® CashBack® Mastercard® - Student
| 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. |
| No foreign exchange 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 | 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 | 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
- Ratehub.ca’s 2023 Award Winner – Best Student Credit Card
- Welcome offer: Get 5% cash back in your first 3 months*
- 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 cash back every time you spend, plus start building a healthy credit history
- Best BMO CashBack Mastercard for Students
- 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*
- No Annual fee*
- Extended Warranty*
- Purchase Protection*
- Receive a discount on car rentals*
- Enjoy three months of Instacart+ and a $5 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- 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
- Cash Advance & Balance Transfer Interest: 21.99% for Quebec residents
- The offer may vary in Quebec.
- *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 August 20, 2024.
Ratehub’s take
The BMO Cashback Mastercard makes a lot of sense for cash-strapped students, because your cash back rewards are available at your fingertips anytime. If you regularly use your credit card to buy groceries or pay your phone plan, you can rack up the cash back rewards to reduce your bills and expenses for the future. Keep in mind, though, that rewards are capped monthly, so if you’re a bit of a big spender this card might not be for you.
Pros
- Redeem cash back rewards anytime: You don’t have to wait to redeem your cash back rewards like you might with other cash back cards — you can apply as little as $1 to your balance anytime, or get a credit card statement
- Flexible redemption options: You can deposit your cash back rewards into a BMO savings or investment account, a fairly rare perk, or redeem them as a statement credit to cover your balance
Cons
- Cash back earnings are limited: The bonus cash back rates of 3% on groceries and 1% on bill payments are capped at a maximum of $500 in spending per month, and then the earn rate goes back to 0.5%. This can really limit your overall annual cash back earnings
- Low regular earn rate: The regular earn rate of 0.5% on everything outside of the bonus categories is minimal, so if you exceed the monthly spending caps in those areas, or prefer to spend on other things like travel, this card might not make sense for you
Eligibility requirements
Minimum credit score: 660
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 23.99%
The BMO CashBack Mastercard for Students is one of the best Mastercard credit cards for students thanks to its strong rewards on everyday essentials. Cardholders earn 3% cash back on groceries and 1% on recurring bill payments, including common subscriptions like streaming services. These categories align well with the typical spending habits of students.
The card also offers flexible redemption options, allowing cash back to be redeemed for as little as $1, and rewards never expire. With no annual fee and accessible eligibility requirements, the BMO CashBack Student Mastercard is a practical option for students looking to build credit while earning rewards on everyday purchases.
Best store credit Mastercard
Featured
Best for PC Points
First year reward
based on spending $2,200/mo after $0 annual fee
- Earn rewards
10pts – 30pts / dollar spent
- Welcome bonus
Earn up to 20,000 points (a $20 value)
- Annual fee
$0
Perks of the PC® 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. |
| No foreign exchange 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 | In the event of theft, loss or damage in the first 90 days when you pay in full with your PC Financial Mastercard credit card. | 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 | Doubles the manufacturer's regular warranty for up to an additional year on items purchased with your PC Financial Mastercard credit card. | 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 20,000 PC OptimumTM welcome points when you spend $50 or more at participating stores within 60 days of account approval.**
- Mastercard Global Service™
- Award-winning, no annual fee credit card
- Earn at least 3 cents per litre in PC Optimum™ points on gas at Esso™ and Mobil™ stations
- Earn at least 30 points per litre on gas at at Esso™ and Mobil™ stations
- Earn 25 PC Optimum™ points per $1 spent at Shoppers Drug Mart® stores
- Earn 10 PC Optimum™ points for every $1 spent everywhere you shop
- No limits on points earning and points don’t expire
Ratehub’s take
The PC Mastercard is a great option if you want to earn rewards on one of the most common expenses – groceries. Especially if you frequently shop at affiliated stores like Loblaws, No Frills or Shoppers Drug Mart.
Pros:
- Accessible to all: No annual fee and no income requirements, making it accessible to a wider range of customers
- Abundant earning opportunities: Loblaw is one of Canada’s largest retailers, so there’s no shortage of opportunities to earn and redeem points
- Unlimited points earnings: Your Optimum points earnings isn’t limited to monthly or annual amounts like with other cards
Cons:
- Redemptions are restricted: You can’t redeem your points for things like statement credits, you are limited to redeeming for gas or groceries at affiliated stores
Eligibility requirements
Minimum credit score: 560
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 22.97%
Balance transfer: N/A
The PC Mastercard is one of the best store credit cards available through the Mastercard network, particularly for shoppers who frequently visit Loblaw-affiliated retailers. Cardholders earn 10 PC Optimum points per dollar at Loblaw grocery stores, 25 points per dollar at Shoppers Drug Mart, and 30 points per dollar on gas at Esso and Mobil stations, making it easy to accumulate rewards on everyday purchases.
The card also stands out for its accessibility. It has no annual fee and no income requirements, making it available to a wider range of applicants than many rewards credit cards. The main limitation is that points can only be redeemed within the PC Optimum ecosystem, typically for groceries, pharmacy purchases, or other items at participating retailers. Still, for frequent shoppers within the Loblaw network, the PC Mastercard offers strong everyday value.
Best Mastercard credit card for US shopping
The Rogers Red World Elite Mastercard is a strong option for those who travel or shop in the U.S., because the 3% unlimited cash back rate on purchases made in USD counteracts the average of 2.5% fees charged by credit card companies for purchases made in foreign currencies. It’s also a great choice for Rogers, Shaw or Fido customers, who will get a higher cash back earn rate than non-customers. Plus, for no annual fee, the card offers some valuable perks like travel medical and trip insurance, as well as a complimentary membership to get you airport lounge access.
Need help choosing the right card?
Take our CardFinder quiz and get personalized recommendations in 60 seconds with no credit impact.
Mastercard credit card tiers
Mastercard does divide its credit card products under three categories: Standard Mastercard, World Mastercard and World Elite Mastercard.
1. Standard Mastercard
A Standard Mastercard can be any credit card, from a low interest credit card (e.g. the BMO Preferred Rate Mastercard) to a travel points credit card (BMO Rewards Mastercard) or a cash back credit card (BMO CashBack Mastercard). These entry-level cards are meant to help you make purchases, build credit, and potentially earn some rewards in the process. Standard Mastercards usually charge no or very low annual fees and have no income requirements. Perks on a Standard Mastercard are limited and typically include basic coverage like purchase protection and extended warranty.
2. World Mastercard
A World Mastercard, on the other hand, is always going to be a rewards credit card offering either cash back, points, or miles. These mid-tier credit card also tend to be accompanied by an annual fee (usually around $89 or less), offer additional bonus rewards on every dollar spent, and may require minimum personal incomes of around $60,000 depending on the issuer. Most also offer some added perks (i.e. mobile device insurance and rental car collision/damage insurance).
3. World Elite Mastercard
Finally, any World Elite Mastercard is at the top tier of Mastercard’s reward credit cards. The rewards range from cash back to travel rewards, but the cards may also include additional perks such as companion flights, complimentary airport lounge access, enhanced concierge service, and a comprehensive suite of credit card travel insurance benefits. World Elite Mastercards also offer more rewards on every dollar spent when compared to their World or Standard counterparts. Lastly, World Elite Mastercards usually command an annual income of $80,000 as an application requirement, great credit scores, and annual fees that often range from $120 to $150 depending on the card.
World Elite program
The World Elite Mastercard program offers a wide range of benefits to enhance the cardholder experience. But the selection of features will vary by individual card and issuers. Therefore, it’s important to compare different World Elite Mastercards prior to choosing the one that’s best for you.
First, a World Elite Mastercard may include both personal assistance and personal protection benefits. This includes concierge services and zero liability protection. Any time you need assistance, whether it’s booking a reservation or buying and delivering gifts, you can rely on the exclusive concierge services provided by the World Elite program.
Your World Elite Mastercard may also include shopping protection, including extended warranty insurance, price protection insurance, and purchase assurance. Your protection does not stop there, as the World Elite program also tends to offer top-of-the-line hotel/motel burglary insurance, lost baggage insurance, travel accident insurance, and trip cancellation insurance. This added protection is sure to decrease your worries while you’re travelling.
Two additional perks found on several World Elite Mastercards include airport lounge access provided through Mastercard Airport Experiences by Loungekey that encompasses over 1,000 lounges worldwide as well as with Mastercard global travel assistance service. This will increase your comfort while travelling and ensure you’re able to get emergency assistance virtually anytime, anywhere, and in any language.
Mastercard credit card partnerships
Many Mastercard credit cards are issued through partnerships with retailers, loyalty programs, and financial institutions. These partnerships allow cardholders to earn rewards tied to specific brands or loyalty ecosystems.
Air Miles
Important update: The AIR MILES program is transitioning to Blue Rewards in summer 2026. Existing AIR MILES will automatically convert to Blue Points at equivalent value, and BMO AIR MILES credit cards will continue to function through the transition while full details for the new Blue Rewards credit cards are released.
BMO and Mastercard offer two personal Air Miles credit cards together: the BMO Air Miles Mastercard and the BMO Air Miles World Elite Mastercard. The first has no annual fee and earns 1 Mile/$25, while the latter has a $120 annual fee and earns reward faster with 1 Mile/$10. Both cards let you rack up additional Miles when shopping at Air Miles partner retailers or from the online airmilesshop.ca e-store.
PC Financial
PC Financial offers a suite of co-branded Mastercard credit cards tied to the PC Optimum loyalty program, one of Canada’s largest retail rewards ecosystems. These cards allow shoppers to earn PC Optimum points on everyday purchases, particularly when shopping at Loblaw banner grocery stores, Shoppers Drug Mart, Joe Fresh, and Esso or Mobil gas stations.
The lineup includes the PC Mastercard, PC World Mastercard, and PC World Elite Mastercard, which offer different levels of rewards earning potential and eligibility requirements. Points earned through the program can be redeemed for discounts on groceries, household items, and other purchases at participating retailers within the PC Optimum network.
WestJet
RBC and WestJet have partnered to offer a suite of co-branded Mastercard credit cards tied to the WestJet Rewards loyalty program. These cards allow travellers to earn WestJet points on everyday purchases and WestJet travel, which can be redeemed toward flights, vacation packages, and other travel expenses with the airline.
The partnership currently includes the WestJet RBC Mastercard and the premium WestJet RBC World Elite Mastercard, which offer different levels of annual fees, rewards earning potential, and travel perks. Both cards are designed to help frequent WestJet flyers accumulate points faster and access benefits such as annual companion vouchers and travel-related savings through the WestJet Rewards program.
Mastercard Click to Pay
Formerly known as MasterPass, the new Mastercard Click to Pay program is a digital checkout option that allows Mastercard users to pay for items and services online with the single click of an icon.
Instead of having to remember login information for specific retail accounts or manually inputting your credit card information as a guest, simply look for the symbol that signifies Mastercard Click to Pay, then select from your saved cards the particular one you’d like to use for the purchase.
The program uses multiple layers of intelligent security such as device protection and fraud recognition to guard against misuse, ensuring your information is kept safe.
Mastercard Priceless Cities
Available exclusively to Mastercard users, the Priceless program offers cardholders the ability to have unique in-person and virtual experiences and discounts on activities and shows in cities all over the world, ranging from cooking classes and concerts to sporting events and virtual seminars.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read full bio
Making dollars make sense
find more articles
advertisement
The knowledge bank
A wealth of knowledge delivered right to your inbox.
By submitting your email address, you acknowledge and agree to Ratehub.ca’s Terms of Use and Privacy Policy. Contact us for more information. You can unsubscribe at any time.
About Ratehub.ca
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. 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.
How are CanWise Financial and Ratehub.ca connected?
We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.
We’re proud of our Ratehub.ca mortgage brokerage, which offers our users great rates, trusted advice and an award-winning team of mortgage experts. Read any of our 6,700 five-star Google and Facebook reviews and you’ll see what we mean.
Other card types
Travel programs
Banks
Calculators
Credit Card Basics
Types of Rewards Credit Cards
Insurance Products
- Credit Card Rental Car Insurance
- Trip Cancellation/Interruption Insurance
- Travel Medical Insurance
- Travel Accident Insurance
- Delayed Baggage Insurance
- Lost Luggage Insurance
- Flight Delay Insurance
- Hotel/Motel Burglary Insurance
- Purchase Security Insurance
- Price Protection Insurance
- Extended Warranty Insurance
advertisement