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The best store credit cards in Canada for 2023

Natasha-M 1
Natasha Macmillan, Business Unit Director - Everyday Banking

October 5, 2023

Store credit cards help shoppers save in addition to other perks such as extended warranty or purchase protection. If you are a frequent shopper at the retailer, signing up may be worthwhile. Here is our round-up of the best store credit cards in Canada.

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The best rewards cards for
with
  1. Annual fee
    $156
    Interest rates
    Purchase interest: 20.99%
    Cash advance: 21.99%
    Balance transfer: N/A
    Welcome bonus
    earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
  2. Annual fee
    $150
    Interest rates
    Purchase interest: 20.99%
    Cash advance: 22.99%
    Balance transfer: 22.99%
    Welcome bonus
    earn up to $1,100+ in value in the first 12 months, including up to 35,000 bonus Scene+ points. Offer ends January 3, 2024.
  3. Annual fee
    $139
    Interest rates
    Purchase interest: 20.99%
    Cash advance: 22.99%
    Balance transfer: 22.99%
    Welcome bonus
    earn up to 35,000 Aeroplan points. Conditions apply. Account must be approved by January 3, 2024.
    Anniversary bonus
    earn 15,000 Aeroplan points. Conditions apply. Account must be approved by January 3, 2024.
  4. Annual fee
    $139
    Interest rates
    Purchase interest: 20.99%
    Cash advance: 22.99%
    Balance transfer: 22.99%
    Welcome bonus
    earn up to 115,000 TD Rewards points. Conditions apply. Account must be approved by January 3, 2024.

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Best Store Credit Cards in Canada

Store credit cards can help shoppers save whether it be on groceries, clothes, or toys in addition to other perks such as exclusive offers, extended warranty, purchase protection, and loyalty points. If you are a frequent shopper at the retailer and can take advantage of the rewards program, signing up may be worthwhile. Here is our round-up of the best store credit cards in Canada!

Featured

Earn $452/yrbased on spending $2,200/moafter $0 annual fee

Earning categories

45 points/$1

On PC Optimum members earn 15 points per dollar at Shoppers Drug Mart and Pharmaprix. When you use your President’s Choice Financial World Elite Mastercard, you will earn an additional points 30 points per dollar.

30 points/$1

On Earn 30 PC Optimum points for every $1 spent at almost 2,500 stores across the country.

30 points/$1

On Esso and Mobil stations in Canada

30 points/$1

On PC® travel services

10 points/$1

On Earn 10 PC Optimum points for every $1 spent everywhere else

Ratehub.ca's take

If you are looking for a credit card that will help you save money on groceries, the PC Financial Mastercard is a great choice, especially for those who frequently shop at Loblaws-owned stores and Shoppers Drug Mart. 

Pros

  • Welcome offer - earn 20,000 PC Optimum points
  • No annual fee and no income requirements, making it accessible to a wider range of customers
  • Loblaw is one of Canada’s largest retailers, so there’s no shortage of opportunities to earn and redeem points
  • Stack your points by showing your PC Optimum card at Loblaw-affiliated stores and paying with your PC Financial World Elite Mastercard
  • Earn rates are high compared to other no-fee credit cards
  • Offers travel insurance benefits adding value to cardholders

Cons

  • Can only redeem points in increments of 10,000
  • Points cannot be transferred to other loyalty programs 
  • Very strict redemption rules - 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

Making dollars make sense

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