The best credit cards in Canada for November 2023
July 12, 2024
Discover the best credit card for you from our carefully curated list across all categories, ensuring Canadians can find the credit card that perfectly aligns with their unique spending habits and lifestyle.
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Canada's best credit cards at a glance
Our methodology: how we choose the best credit cards
Ratehub.ca evaluates the best credit card rewards credit cards by considering overall consumer value and suitability for various types of consumers. Our evaluation methodology incorporates factors such as the card’s annual fee, rewards earning rates, ease-of-use, welcome or promotional offers, approval rates, eligibility criteria, and redemption choices. We have also considered the pros and cons of each card to help you determine which case best suits your financial needs and spending habits.
Frequently asked questions
Why should I get a credit card?
Owning even one credit card responsibly helps build credit and increase your credit score over time, signalling to potential lenders that you are reliable and trustworthy. Credit is important for major purchases such as cars and homes. Credit cards can also earn you money on purchases and offer added bonuses such as travel points and insurance.
How do I apply for a credit card?
New to credit cards and wondering how to begin your application process? Here's a few things to know:
- Knowing whether you're eligible (or how likely you are to be approved) for certain cards is essential before applying. Getting rejected for a credit card can do harm to your credit score, and repeated rejections can inflict some serious damage, so it's best to have a good idea of whether or not your application will be accepted.
- Income requirement: pay special attention to a card's minimum income requirement (if there is one) and make sure your current income meets or exceeds it before choosing to apply
Use our new eligibility checker tool to quickly discover in minutes whether you're eligible for a card or not, or contact a Canadian credit bureau (such as TransUnion) and request a copy of your credit report.
What is the best credit card to build credit?
If you’re looking to build / rebuild credit, the best card to get is a secured credit card. Your approval is guaranteed, but a security deposit is required to ensure bill payment. These cards are an excellent way to strengthen your credit, and if you continue to use it responsibly, your issuer will typically return your deposit and offer you an unsecured card within 12-18 months.
For those looking to rebuild their credit, we picked the Neo Card (Secured) as the best credit card in Canada as it offers cardholders the ability to earn cash back rewards, pay no annual fee and have a flexible credit limit.
What is the best credit card for foreign transactions?
If you're planning on using your card for foreign transactions, whether travelling abroad or simply online shopping in a foreign currency, a credit card with no foreign transaction fees is a necessity.
Our pick for the best credit card in Canada with no foreign transaction fee is the Scotiabank Passport Visa Infinite. Aside from the main draw (the aforementioned zero foreign transaction fees), you'll earn two points per dollar across most major spending categories and be eligible for a generous welcome offer. The card also comes with a comprehensive insurance package to make sure you're protected while travelling.
What is the best credit card for students?
When it comes to student credit cards, our top pick is the BMO CashBack Mastercard - Student.
For students new to credit, this card ticks all the boxes: it has no annual fee or income requirement, a 3% cashback return on grocery purchases (up to $500 per month), plus a healthy welcome offer - earn 5% cash back in your first 3 months The cash back reward system is straight forward and redemption is flexible and easy, offering students the ability to cash in their rewards in increments as small as one dollar whenever they'd like.
What is the best cash back credit card?
Our top pick for best cash back credit card in Canada is the CIBC Dividend Visa Infinite.
The CIBC Dividend Visa Infinite offers the best rewards for everyday essentials, with a 1% earn rate for all purchases an industry-leading 4% cash back on grocery and gas purchases - two of the most common spending categories for Canadian households. Thanks to CIBC's new cash back on demand feature, you can choose to redeem rewards any time, starting at just $25.
What is the best credit card for travel?
If you’re looking for a well-rounded, lucrative rewards card that’s just as great for everyday spending as it is for travel, the American Express Cobalt has got you covered and is considered to be the best rewards credit card in Canada. Cardholders can take advantage of the strong travel insurance, impressive welcome bonus and flexible point redemption options. The Scotiabank Passport Visa Infinite card is the ultimate travel credit card with valuable benefits that set it apart from others.
How does credit card interest work?
Credit card providers charge interest in the event of late or unpaid statements (usually around 19-20% of the outstanding balance). This extra amount is tacked on to the principal total you owe, and it will continue to compound and grow the longer your debt goes unpaid. In extreme cases, this can make it nearly impossible for users to pay off their original balance, as it's buried underneath layers of interest upon interest. This is why it's imperative to pay off your monthly statements on time and in full.
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Best credit card per category
Best rewards credit card
Best for Groceries & dining
based on spending $2,200/mo after $192 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Welcome bonus
Earn up to 15,000 points (a $150 value)
- Annual fee
$192
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. |
| 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 $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 consecutive 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 | up to $500 (combined maximum with Baggage Delay Insurance); 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 (combined maximum with Flight Delay Insurance); 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 | $500 against the loss of most personal items (excluding cash) | 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 | up to 1 additional year | 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
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score*.
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- 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
- 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
- $15.99/month (Equals $191.88 annually) for non-Quebec residents. $191.88/year for Quebec residents.
- 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 $15.99 (totalling an annual fee of $191.88, 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
Ratehub.ca's take
If you’re looking for a well-rounded, lucrative rewards card that’s just as great for everyday spending as it is for travel, the American Express Cobalt has got you covered. Cardholders can take advantage of the strong travel insurance, impressive welcome bonus and flexible point redemption options.
Offering an industry-leading five times the points (valued at $0.01 per dollar) on eligible restaurants, bars, groceries, and food delivery purchases, three times the points on eligible streaming services, and twice the points on rides shares, daily transit, and gas, the American Express Cobalt easily takes our prize for best overall travel credit card in Canada. Aside from that, the card’s welcome bonus gives new users the ability to earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Pros
- Great welcome bonus - earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
- Flexible and easy point redemption, allowing cardholders to redeem their Membership Rewards for travel, gift cards, merchandise, or purchases. Frequent flyers can also transfer their points 1:1 to several loyalty programs.
- Earning potential for restaurants and takeout is significantly higher than most other cards
- Access to Front of the Line Presale and Reserved tickets to concerts, theater performances, movie screenings, and culinary events, along with other special offers
- Strong travel insurance package including up to $5,000,000 in travel emergency medical
- No fee for additional authorized users (an average fee of $30 - 50 on other comparable cards)
Cons
- Monthly fee of $12.99 (coming to an annual fee of $192, which is higher than most other rewards cards)
- American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Travel insurance package does not cover trip cancellation or medical coverage for cardholders over the age of 65
- Airport lounge access isn’t provided, which may be disappointing to frequent travels
Best travel credit card
Best for Travel perks
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 3pts / dollar spent
- Welcome bonus
Earn up to 60,000 points (a $600 value)
- Annual fee
$150
Perks of the Scotiabank Passport™ Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Includes 6 lounge passes per year | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | 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 ($1 million total) | 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 | $2,000,000 for 25 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 insured person / $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 $2,500 per insured person / $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 | Up to $500 coverage per person | 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 over 4 hours | 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 a maximum of $1,000 | 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 | $60,000 lifetime limit | 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 up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating
Co-ops and more - Earn 2x Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways taxis and more)
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 3X 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
- 6 Complimentary Airport Lounge Access
- Comprehensive Travel Insurance coverage
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Rates, fees and other information are effective as of Jan 2, 2026. Subject to change.
Ratehub’s take
The Scotiabank Passport Visa Infinite card makes a great vacation companion, designed for Canadians who travel abroad and explore the world. It is one of the few cards that covers foreign transaction fees, and also includes valuable travel benefits like airport lounge access.
Pros
- No foreign transaction fee: Save 2.5% on all non-Canadian currency purchases
- Scene+ points: Earn three Scene+ points per $1 spent at participating grocery stores (e.g., Sobey’s, IGA, and FreshCo) and two Scene+ points per $1 spent on eligible grocery, dining, entertainment, and daily transit purchases
- Flexible redemption: Enjoy flexible point redemption options including for travel, groceries, statement credits, gift cards, and movie tickets
- Airport lounge access: Access airport lounges with six free visits per year to over 1,200 lounges worldwide
- Visa Infinite benefits: Benefit from the Visa Infinite Luxury Hotel Collection, Visa Infinite Dining series, and complimentary Avis Preferred Plus membership
- Comprehensive travel insurance: Enjoy coverage for emergency medical, trip cancellation/interruption, flight delays, and more
Cons
- Annual fee: The annual fee of $150 is higher than some comparable cards
- Low point return: The earn rate for certain spending categories like dining and entertainment is lower compared to other cards
- Consistent point values: Travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with some Amex cards
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%
Ratehub.ca's take
The Scotiabank Passport Visa Infinite card is the best credit card for traveling as it is one of few cards waiving foreign transaction fees (a saving of 2.5% on all foreign currency) in addition to valuable travel benefits like comprehensive travel insurance, airport lounge access worldwide (with 6 free visits per year), and the ability to redeem your Scene+ points for travel.
Pros
- One of the few Canadian credit cards to offer no foreign transaction fees (saving you 2.5% on all your purchases made in a non-Canadian currency)
- Earns three Scene+ points for every dollar spent at participating grocery stores like Sobey's, IGA, and FreshCo, among others; two Scene+ points for every dollar spent on eligible grocery, dining, entertainment and daily transit purchases
- Great welcome offer - Earn 40,000 bonus Scene+ points when you spend $2,000 within the first 3 months. Plus earn 10,000 bonus Scene+ points when you spend $10,000 within the first 6 months. Earn 10,000 bonus Scene+ points when you spend $40,000 annually on your Account each year
- Flexible point redemption
- Priority Pass membership with six free visits per year to over 1,200 lounges worldwide
- Access to the Visa Infinite Luxury Hotel Collection and Visa Infinite Dining series
- Complimentary Avis Preferred Plus membership
- Comprehensive travel insurance including coverage for emergency medical, trip cancellation/interruption, and flight delay, among others
Cons
- Annual fee of $150 is higher than the average for cards of this calibre
- Much lower return than other cards with comparable annual fees
Honourable mention for best travel credit card
Best for Groceries & dining
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1pt – 6pts / dollar spent
- Welcome bonus
Earn up to 45,000 points (a $450 value)
- Annual fee
$120
Perks of the Scotiabank®* Gold American Express® 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 | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | up to a maximum of $500,000 (to a maximum of $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 | $1,000,000 for 25 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 for travel expenses (maximum $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 $1,500 per person for travel expenses (maximum $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 | Up to $500 coverage per person | 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 (combined maximum with lost baggage) | 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 (combined maximum with lost baggage); delays over 4 hours | 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 burglary occurrence | 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 | 60 days from the date of purchase of most new items of personal property purchased in Canada | 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 $850 in welcome offers, first year rewards and savings value, and up to 45,000 bonus Scene+ points.¹
- Earn 6x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes.Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options.Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming sevices
Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday 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
- AMEX Offers®
- AMEX Front of the Line®
- American Express Invites®
- Complimentary Concierge Services
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score*.
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- Rates, fees and other information are effective as of October 31, 2025. Subject to change.
Ratehub’s take
The Scotiabank Gold American Express Card earns an honourable mention as one of the best overall travel credit cards for the outstanding benefits it offers to cardholders. This card stands out as a top choice, thanks to its exceptional return on spending and a variety of travel-related perks. This card is particularly useful for those who dine out often, travel, and enjoy entertainment.
Pros
- No foreign exchange fee: Save on foreign currency purchases while travelling abroad or shopping online, as this card doesn’t charge the typical 2.5% foreign transaction fee
- Extensive insurance coverage: Enjoy comprehensive travel insurance, including the $1 million travel medical insurance, which lasts for 25 days and is one of the longer coverage periods available on the market
- High return on spending: Earn five points per $1 spent on groceries, restaurants, food delivery, and entertainment – one of the best in class multipliers in the market. Earn three points per $1 spent on gas and transit expenses
Cons
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Annual Fee: This card carries an annual fee of $120
- Fixed point values: Although earn rates are high, travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with other cards
- Airport lounge access is not free: Although you’ll get a discount on a Priority Pass membership for airport lounge access, lounge visits aren’t included with the card
Eligibility requirements
Minimum credit score: 725
Minimum income: $12,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Ratehub.ca's take
The Scotiabank Gold American Express Card has a best in class return on spending due to the 5 times multiplier for every $1 spent on groceries, restaurants, food delivery and entertainment and 3 times multiplier on gas and transit. This adds up to a ton of points on your everyday purchases. On top of that, cardholders will not have to pay a foreign transaction fee on foreign currency purchases and have access to a cohesive travel insurance package. The Scotiabank Gold American Express card is a great travel companion offering significant savings.
Pros
- No foreign exchange fee on any foreign currency purchases while traveling abroad or shopping online (typically a 2.5% fee)
- Extensive insurance coverage - The $1 million travel medical insurance lasts for 25 days, which is one of the longer coverage periods you’ll get.
- High average % return on spending (5 points per $1 on purchases) - best in class multipliers across groceries, restaurants, entertainment, gas and transit
- Great welcome bonus with the opportunity to Earn 25,000 bonus Scene+ points by making at least $2,000 in everyday eligible purchases in your first 3 months. Earn an additional 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
- Access to VIP airport lounges and around the clock concierge services
Cons
- American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Annual Fee $120
Best cash back credit card
Best for Groceries & gas
based on spending $2,200/mo after the annual fee
- Earn rewards
1% – 4% / dollar spent
- Welcome bonus
Earn up to $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. |
| 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 | $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 up to $400 in value including a first year annual fee rebate.†
Here’s how you can earn up to $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 $10 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 $10
- 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: 21.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Annual fee
$120
Ratehub.ca's take
The biggest selling point of the CIBC Dividend Visa Infinite is its impressive rewards on everyday essentials. On top of the 1% earn rate for all purchases, this card earns an industry-leading 4% cash back on both groceries, and gas purchases – two of the most common spending categories for Canadian households. Thanks to CIBC’s new Cash Back on demand feature, cardholders can choose to redeem rewards at any time as a statement credit starting in increments of $25.
Pros
- Significantly higher earn rates on groceries, EV charging, and gas than most other cards (4% cash back)
- Flexible cash back redemption option allowing users to redeem their cash back at any time in increments of $25
- Access to CIBC’s Pace It program, allowing you to pay off large purchases in monthly increments
- Features a digital-only welcome bonus, where new users who apply online can Join and earn up to $400 in value including a first year annual fee rebate.†
- Access to the Visa Infinite Program, entitling you to attend special dining events and hotel perks at participating hotels and restaurants
Cons
- Annual fee ($120) and personal income requirements ($60,0000) may be prohibitive
- 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)
Best no fee cash back credit card
Best for Flexible spending
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.
Ratehub.ca's take
While the fact that the Tangerine Money-Back Credit Card is a no annual fee card is a big reason behind its popularity, what really sets this card apart its customizability. With this card, you can choose your own bonus categories (which will earn you a strong cash back rate of 2% per dollar spent). This is rare in the credit card market and means you can avoid being locked into a bonus category that you can’t take full advantage of or that doesn’t align with your spending habits. On top of that, your cash back is refunded on a monthly basis (instead of the standard annual reimbursement).
Pros
- Flexibility to pick up to three bonus categories to earn 2% cash back on (out of a total of 10 options), which is in sharp contrast to most other cards where you have fixed bonus categories that you have no control over
- 2% cash back per dollar on bonus categories is one of the richest earn rates for a nofee card
- Freedom to change up your bonus categories at any time (changes will take up to 90 days to come into effect)
- Widely accepted almost everywhere including No Frills and Costco as it is a Mastercard credit card
- Extended warranty and purchase protection
- Free supplementary cards for authorized users
Cons
- For all purchases that aren’t categorized under one of your chosen bonus categories, you’ll earn just 0.5% cash back
- No travel medical insurance or any substantial side perks
Best low interest credit card and best balance transfer credit card
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.
Ratehub.ca's take
In the Venn diagram of features most sought after by those looking to minimize their credit card debt, the MBNA True Line Mastercard has some considerable overlap. The card has no annual fee and a below-average purchase interest rate of 12.99% on purchases and balance transfers.
Pros
- 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
- No annual fee and no income requirements to qualify making it very accessible
- Promotional balance transfer of 0% is available for a full year helping pay down or eliminate credit card debt, with a 3% balance transfer fee
Cons
- Does not include insurance or other benefits
- Offer not available to residents of Quebec
Best credit card for building credit
based on spending $2,200/mo after $96 annual fee
- Earn rewards
1% – 15% / dollar spent
- Annual fee
$96
Perks of the Secured Neo 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 | 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 | first fourteen (14) consecutive days; up to $1,000,000 | 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 (48) 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 | combined maximum $5,000 per Covered Trip with trip interruption | 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 | combined maximum $5,000 per Covered Trip with trip cancellation | 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 | maximum of $500 per any one 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 a maximum of $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 a maximum of $1,000 | 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 a maximum of $1,000 | 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 after the 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 full year following the expiry of the applicable Manufacturer’s Warranty | 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
- Guaranteed, instant approval whether you’re just starting out, or looking to build or rebuild your credit. Start building with Canada’s first credit card designed to grow with you.
- Guaranteed, instant approval* with access to your virtual card to start using immediately
- Guided credit building tools with built-in credit score tracking
- 1% cashback on gas & groceries, plus up to 15% back at over 10,000 Neo partners across Canada
- No income or credit score requirements
Ratehub’s take
The Secured Neo Mastercard offers you the opportunity to earn cash back rewards – a feature that is hard to come by for a secured card. The card also comes with noteworthy budgeting features through Neo AI and the ability to adjust your credit limit anytime.
Pros
- Cash back rewards: Cash back rewards apply to gas and grocery purchases, as well as purchases with Neo partners
- Low minimum deposit requirement: The $50 minimum deposit requirement makes this card accessible for most – many other cards require at least $500
- Customize rewards: For a low monthly fee, you can subscribe to Perks which allow you to earn rewards from your spending and benefits like airport lounge access for specific categories, such as travel or wellness
Cons
- Higher interest rate: The card’s 19.99% interest rate is quite a bit higher than some low interest cards and other secured cards
- Cash back rewards are limited: You can earn a maximum of $680 in cash back per year, which is quite limited
Eligibility requirements
Minimum income: N/A
Interest rates
Purchase interest: 19.99% – 29.99%
Cash advance: 22.99% – 31.99%
Balance transfer: N/A
Ratehub.ca's take
Having the distinction of being the only secured card on the market to offer cash back rewards, the Neo Card (Secured) offers 5% cash back on purchases made with participating Neo partners and 1% on everything else (up to a $5000 limit per month).
There’s no annual fee to pay, and its minimum security deposit of only $50 makes it quite possibly the most accessible card on this list. Other great features include the ability to increase or decrease your credit limit on demand, an insights dashboard through their app which you can use to track spending, and an auto-pay feature to ensure you never miss a bill while you’re trying to get your credit on track.
The only visible drawback here is their purchase interest rate. While its low end sits comfortably at a standard 19.99%, it can reach as high as 26.99% depending on your credit application and province, so read the fine print on your contract and make sure you’re getting a rate you can live with.
Pros
- No annual fee
- Only secured card on the market with cash back rewards - earn 5% on store purchases with Neo retail partners and 1% on everything else
- Increase or decrease your credit limit on demand
- Insights dashboard helps you keep track of your spending
- Auto-pay feature keeps you from missing bills
- Very low minimum security deposit of $50
- No hard credit check, excluding Quebec applicants (hard credit inquiries may have a negative impact on your credit score)
Cons
- Purchase interest rate can go as high as 26.99% depending on your application and home province
Best perks credit card
Best for Premium perks
based on spending $2,200/mo after $799 annual fee
- Earn rewards
1pt – 2pts / dollar spent
- Welcome bonus
Earn up to 70,000 points (a $700 value)
- Anniversary bonus
Earn up to 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. |
| 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 | $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
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score*.
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- 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 15 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. Terms and Conditions apply
- 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 $550 USD at over 1,600 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: N/A
Interest rates
Purchase interest: N/A
Cash advance: N/A
Balance transfer: N/A
Ratehub.ca's take
When it comes to extra perks, the American Express Platinum Card is in a class all its own and is very easily classified as the best premium credit card in Canada. While its annual fee isn't cheap, the American Express Platinum Card offers all the bells and whistles and benefits that makes it worthwhile. Aside from its point value (three points per dollar on eligible dining/food delivery in Canada, two points per dollar on travel, and one point per dollar on everything else), this card comes packed with tons of extra benefits, including complimentary airport lounge access with unlimited passes to Priority Pass and Centurion lounges, a dedicated concierge line, an annual $200 travel credit, hotel upgrades and Platinum Concierge services, one of the best travel insurance packages on the market, and that your cash back is refunded on a monthly basis (instead of the standard annual reimbursement).
Pros
- Very lucrative welcome bonus - 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
- 2x points on eligible dining and food delivery in Canada (which will come in handy when traveling domestically) and 2x points on travel purchases
- No minimum income requirement - a rarity for a card of this calibre
- Lounge access - unlimited free access for you and one guest to over 1,200 airport lounges as part of the American Express Global lounge collection
- VIP benefits at Toronto Pearson Airport including access to Pearson Priority Security Lande, free valet parking (usually a $25 fee), and 15% discount on parking as a statement credit
- Upgraded gold hotel status with Marriott Bonvoy, Radisson Rewards, and Hilton Honors and car rental privileges with Hertz and Avis
- Transfer point 1:1 to several frequent flyer programs
- One of the best travel insurance packages on the market, including everything from out-of-province emergency medical to $500,000 travel accident insurance and beyond
Cons
- A very high annual fee of $799, which can be seen as $599 after the annual $200 travel credit
- American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
Best no foreign transaction fee card
Best for Travel perks
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 3pts / dollar spent
- Welcome bonus
Earn up to 60,000 points (a $600 value)
- Annual fee
$150
Perks of the Scotiabank Passport™ Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Includes 6 lounge passes per year | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | 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 ($1 million total) | 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 | $2,000,000 for 25 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 insured person / $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 $2,500 per insured person / $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 | Up to $500 coverage per person | 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 over 4 hours | 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 a maximum of $1,000 | 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 | $60,000 lifetime limit | 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 up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating
Co-ops and more - Earn 2x Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways taxis and more)
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 3X 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
- 6 Complimentary Airport Lounge Access
- Comprehensive Travel Insurance coverage
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Rates, fees and other information are effective as of Jan 2, 2026. Subject to change.
Ratehub’s take
The Scotiabank Passport Visa Infinite card makes a great vacation companion, designed for Canadians who travel abroad and explore the world. It is one of the few cards that covers foreign transaction fees, and also includes valuable travel benefits like airport lounge access.
Pros
- No foreign transaction fee: Save 2.5% on all non-Canadian currency purchases
- Scene+ points: Earn three Scene+ points per $1 spent at participating grocery stores (e.g., Sobey’s, IGA, and FreshCo) and two Scene+ points per $1 spent on eligible grocery, dining, entertainment, and daily transit purchases
- Flexible redemption: Enjoy flexible point redemption options including for travel, groceries, statement credits, gift cards, and movie tickets
- Airport lounge access: Access airport lounges with six free visits per year to over 1,200 lounges worldwide
- Visa Infinite benefits: Benefit from the Visa Infinite Luxury Hotel Collection, Visa Infinite Dining series, and complimentary Avis Preferred Plus membership
- Comprehensive travel insurance: Enjoy coverage for emergency medical, trip cancellation/interruption, flight delays, and more
Cons
- Annual fee: The annual fee of $150 is higher than some comparable cards
- Low point return: The earn rate for certain spending categories like dining and entertainment is lower compared to other cards
- Consistent point values: Travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with some Amex cards
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%
The Scotiabank Passport Visa Infinite was the first credit card from one of Canada’s major banks to eliminate foreign transaction fees.
Pros
- No foreign transaction fees: Saving you money when you travel abroad or make any international online purchases
- Enticing welcome offer: Earn 40,000 bonus Scene+ points when you spend $2,000 within the first 3 months. Plus earn 10,000 bonus Scene+ points when you spend $10,000 within the first 6 months. Earn 10,000 bonus Scene+ points when you spend $40,000 annually on your Account each year
- Robust travel insurance: Benefit from a strong travel insurance package to enhance your travel experience
- Competitive reward program: Earn 3 Scotia points per $1 at participating grocery stores like Sobey's, IGA, and Freshco (among others), 2 Scotia points per $1 spent on groceries, restaurants, entertainment, and daily transit (including taxis), and 1 point per $1 on everything else
- Flexible redemption: Enjoy flexible point redemption including flight purchases on any airline with no blackout dates
- Exclusive offers: Enjoy 25% off car rentals at participating Avis locations – a perk that is offered to all Scotiabank credit card holders.
Best credit card for travel insurance
Best for Groceries & dining
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1pt – 6pts / dollar spent
- Welcome bonus
Earn up to 45,000 points (a $450 value)
- Annual fee
$120
Perks of the Scotiabank®* Gold American Express® 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 | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | up to a maximum of $500,000 (to a maximum of $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 | $1,000,000 for 25 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 for travel expenses (maximum $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 $1,500 per person for travel expenses (maximum $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 | Up to $500 coverage per person | 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 (combined maximum with lost baggage) | 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 (combined maximum with lost baggage); delays over 4 hours | 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 burglary occurrence | 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 | 60 days from the date of purchase of most new items of personal property purchased in Canada | 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 $850 in welcome offers, first year rewards and savings value, and up to 45,000 bonus Scene+ points.¹
- Earn 6x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes.Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options.Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming sevices
Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday 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
- AMEX Offers®
- AMEX Front of the Line®
- American Express Invites®
- Complimentary Concierge Services
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score*.
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- Rates, fees and other information are effective as of October 31, 2025. Subject to change.
Ratehub’s take
The Scotiabank Gold American Express Card earns an honourable mention as one of the best overall travel credit cards for the outstanding benefits it offers to cardholders. This card stands out as a top choice, thanks to its exceptional return on spending and a variety of travel-related perks. This card is particularly useful for those who dine out often, travel, and enjoy entertainment.
Pros
- No foreign exchange fee: Save on foreign currency purchases while travelling abroad or shopping online, as this card doesn’t charge the typical 2.5% foreign transaction fee
- Extensive insurance coverage: Enjoy comprehensive travel insurance, including the $1 million travel medical insurance, which lasts for 25 days and is one of the longer coverage periods available on the market
- High return on spending: Earn five points per $1 spent on groceries, restaurants, food delivery, and entertainment – one of the best in class multipliers in the market. Earn three points per $1 spent on gas and transit expenses
Cons
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Annual Fee: This card carries an annual fee of $120
- Fixed point values: Although earn rates are high, travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with other cards
- Airport lounge access is not free: Although you’ll get a discount on a Priority Pass membership for airport lounge access, lounge visits aren’t included with the card
Eligibility requirements
Minimum credit score: 725
Minimum income: $12,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Ratehub.ca's take
The Scotiabank Gold American Express Card is ranked as the best credit card for travel insurance in addition to the best overall travel credit card. The Scotiabank Gold American Express card is a great travel companion offering significant savings.
Pros
- No foreign exchange fee on any foreign currency purchases while traveling abroad or shopping online (typically a 2.5% fee)
- Extensive insurance coverage - The $1 million travel medical insurance lasts for 25 days, which is one of the longer coverage periods you’ll get.
- High average % return on spending (5 points per $1 on purchases) - best in class multipliers across groceries, restaurants, entertainment, gas and transit
- Great welcome bonus with the opportunity to Earn 25,000 bonus Scene+ points by making at least $2,000 in everyday eligible purchases in your first 3 months. Earn an additional 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
- Access to VIP airport lounges and around the clock concierge services
Travel insurance details
- Travel emergency medical: up to $1 million for up to 25 consecutive days (3 days for age 65+)
- Travel accident: $500,000 per person/ $1 million per occurrence
- Trip interruption: $1,500 per person, up to $10,000
- Trip cancellation: 1,500 per person, up to $10,000
- Flight delay: $500 per person
- Baggage delay: $1,000 if baggage is delayed by more than 4 hours
- Lost or stolen baggage: $1,000 per trip
- Hotel burglary: $1,000
- Rental car theft or damage: up to $65,000 for rentals of 48 days or less
These travel insurance benefits are applicable when the partial or full cost of transportation is charged to your Scotiabank Gold American Express Card.
The travel insurance included with the Scotiabank Gold American Express is above average. The $1 million travel medical insurance lasts for 25 days, which is one of the longer coverage periods you’ll get. Your insurance also includes hotel burglary insurance up to $1,000 per person for accommodations booked in Canada and the US.
See full insurance details for the Scotiabank Gold American Express here.
Best student credit card
Best for Groceries
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%
Ratehub.ca's take
The BMO CashBack Mastercard - Student is a no annual fee rewards credit card that offers particularly strong returns on everyday essentials from grocery stores and supermarkets. It earns 3% cash back on the first $500 you spend on groceries every month and 1% on recurring bills up to $500 every month (0.5% cash back after that). For all your other everyday purchases, you’ll net 0.5% cash back without limits. This credit card has the trio of features that most appeal to students: 1. no annual fees 2. the ability to earn straightforward rewards, and 3. no income requirement.
Pros
- No annual fee
- 3% cash back on groceries makes it one of the best no fee cards to own for that spending category
- Great welcome offer - Welcome offer: Get 5% cash back in your first 3 months
- No income requirement - perfect for students on a fixed income
- Cash back system is more straightforward than points
- Redeem cash back for as little as $1 at a time
- Purchase and extended warranty protection and discounts on rental cars from eligible National and Alamo agency locations
Cons
- 1% cash back rate on recurring bills and 0.5% on everything else isn’t particularly compelling
- Bonus categories each have a monthly cap of $500 (but reset monthly)
Best credit card for lounge access
Best for Travel perks
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 3pts / dollar spent
- Welcome bonus
Earn up to 60,000 points (a $600 value)
- Annual fee
$150
Perks of the Scotiabank Passport™ Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Includes 6 lounge passes per year | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | 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 ($1 million total) | 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 | $2,000,000 for 25 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 insured person / $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 $2,500 per insured person / $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 | Up to $500 coverage per person | 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 over 4 hours | 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 a maximum of $1,000 | 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 | $60,000 lifetime limit | 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 up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating
Co-ops and more - Earn 2x Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways taxis and more)
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 3X 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
- 6 Complimentary Airport Lounge Access
- Comprehensive Travel Insurance coverage
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Rates, fees and other information are effective as of Jan 2, 2026. Subject to change.
Ratehub’s take
The Scotiabank Passport Visa Infinite card makes a great vacation companion, designed for Canadians who travel abroad and explore the world. It is one of the few cards that covers foreign transaction fees, and also includes valuable travel benefits like airport lounge access.
Pros
- No foreign transaction fee: Save 2.5% on all non-Canadian currency purchases
- Scene+ points: Earn three Scene+ points per $1 spent at participating grocery stores (e.g., Sobey’s, IGA, and FreshCo) and two Scene+ points per $1 spent on eligible grocery, dining, entertainment, and daily transit purchases
- Flexible redemption: Enjoy flexible point redemption options including for travel, groceries, statement credits, gift cards, and movie tickets
- Airport lounge access: Access airport lounges with six free visits per year to over 1,200 lounges worldwide
- Visa Infinite benefits: Benefit from the Visa Infinite Luxury Hotel Collection, Visa Infinite Dining series, and complimentary Avis Preferred Plus membership
- Comprehensive travel insurance: Enjoy coverage for emergency medical, trip cancellation/interruption, flight delays, and more
Cons
- Annual fee: The annual fee of $150 is higher than some comparable cards
- Low point return: The earn rate for certain spending categories like dining and entertainment is lower compared to other cards
- Consistent point values: Travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with some Amex cards
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%
The Scotiabank Passport Visa Infinite card is the best credit card for traveling as it is one of few cards waiving foreign transaction fees (a saving of 2.5% on all foreign currency) in addition to valuable travel benefits like comprehensive travel insurance, airport lounge access worldwide (with 6 free visits per year), and the ability to redeem your Scene+ points for travel.
Pros
- Lounge access: Priority Pass membership with six free visits per year to over 1,200 lounges worldwide
- No foreign transaction fees: Saving you money when you travel abroad or make any international online purchases
- Robust travel insurance: Benefit from a strong travel insurance package to enhance your travel experience
- Competitive reward program: Earn 3 Scotia points per $1 at participating grocery stores like Sobey's, IGA, and Freshco (among others), 2 Scotia points per $1 spent on groceries, restaurants, entertainment, and daily transit (including taxis), and 1 point per $1 on everything else
- Flexible redemption: Enjoy flexible point redemption including flight purchases on any airline with no blackout dates
- Exclusive offers: Enjoy 25% off car rentals at participating Avis locations – a perk that is offered to all Scotiabank credit card holders.
The American Express Business Edge Card should be any business owners go to credit card to earn great rewards on monthly office expenses. Cardholders can earn 3 points per dollar on restaurants, gas, transit, office supplies, and electronics and 1 point per dollar on all other purchases.
Pros
- Generous welcome offer: earn up to 67,000 welcome bonus Membership Rewards points.
- Healthy earn rate on everyday business spending
- Includes insurance from travel insurance to purchase protection
- A maximum of 99 additional employee cards can be added to the primary cardholder account, which is considerably higher than other business credit cards
Best credit card for gas and groceries
Best for Groceries & gas
based on spending $2,200/mo after the annual fee
- Earn rewards
1% – 4% / dollar spent
- Welcome bonus
Earn up to $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. |
| 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 | $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 up to $400 in value including a first year annual fee rebate.†
Here’s how you can earn up to $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 $10 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 $10
- 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: 21.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Annual fee
$120
Ratehub.ca's take
The biggest selling point of the CIBC Dividend® Visa Infinite* is its impressive rewards on everyday essentials making it the best credit card in Canada for gas and groceries. On top of the 1% earn rate for all purchases, this card earns an industry-leading 4% cash back on both groceries and gas purchases – two of the most common spending categories for Canadian households. Thanks to CIBC’s new Cash Back on demand feature, cardholders can choose to redeem rewards at any time as a statement credit starting in increments of $25.
Pros
- Significantly higher earn rates on groceries and gas than most other cards (4% cash back)
- Flexible cash back redemption option allowing users to redeem their cash back at any time in increments of $25
- Access to CIBC’s Pace It program, allowing you to pay off large purchases in monthly increments
- Features an excellent digital-only welcome bonus, where new users who apply online can Join and earn up to $400 in value including a first year annual fee rebate.†
- Access to the Visa Infinite Program, entitling you to attend special dining events and hotel perks at participating hotels and restaurants
Cons
- Annual fee ($120) and personal income requirements ($60,0000) may be prohibitive
- 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)
Best hotel credit cards
Best for Hotel stays
based on spending $2,200/mo after $120 annual fee
- Earn rewards
2pts – 5pts / dollar spent
- Welcome bonus
Earn up to 60,000 points (a $702 value)
- Anniversary bonus
Earn up to 10,000 points (a $117 value)
- Annual fee
$120
Perks of the The Marriott Bonvoy® American Express®* 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 | up to $500,000 | 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 | 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 | 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 | up to $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 | 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 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
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score*.
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- Earn up to 70,000 bonus Marriott Bonvoy® points
- New Marriott Bonvoy® American Express®* Cardmembers can earn up to 60,000 bonus Marriott Bonvoy® Points after you spend $3,000 on your Card in your first 3 months of Cardmembership
- Plus, earn 10,000 points after you spend $500 on your Card in your 13th month of Cardmembership
- Earn 5 points for every dollar in eligible Card purchases at hotels participating in Marriott Bonvoy®
- Earn 2 points for every $1 in all other Card purchases
- Receive an Annual Free Night Award for up to 35,000 points at eligible hotels and resorts worldwide every year after your first anniversary
- No annual fee on Additional Cards
- Redeem points for free nights with no blackout dates at over 7,000 of the world’s most desired hotels
- Automatic Marriott Bonvoy Silver Elite status membership
- Receive 15 Elite Night Credits each calendar year with your Marriott Bonvoy® American Express®* Card. These can be used towards attaining the next level of Elite status in the Marriott Bonvoy program
- Enjoy an automatic upgrade to Marriott Bonvoy Gold Elite status when you reach $30,000 in purchases on the Card each year or when you combine 10 qualifying paid nights within one calendar year with the 15 Elite Night Credits from your card
- 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 Marriott Bonvoy American Express Card is tailor-made for hotel rewards, making it an excellent choice for frequent travellers who want to stay in style. It’s one of the best travel credit cards in Canada.
Pros
- Extensive hotel network: Access more than 7,000 hotels worldwide under the Marriott Bonvoy loyalty program
- Annual free night: Enjoy an annual free night’s accommodation at any Marriott Bonvoy hotel
- Silver Elite status: Receive complimentary Marriott Bonvoy Silver Elite status, which can get you exclusive discounted rates and higher points earn rates
- Points earning: Earn five Bonvoy points for every $1 spent on eligible card purchases at hotels participating in the Marriott Bonvoy® program, and two Bonvoy points per dollar on all other card purchases
- Versatile redemption: Redeem points for free nights at more than two dozen hotel brands, including Marriott, Starwood Hotels and Resorts, W Hotels, St. Regis, Ritz Carlton, Sheraton and Delta
Cons
- Travel insurance limitations: The card does not include travel emergency medical insurance within its insurance package
- Points worth less for flights: While you can transfer your Marriott Bonvoy points to other flight reward programs, they are worth less at a ratio of 3 points = $1
Eligibility requirements
Minimum credit score: 725
Minimum income: N/A
Interest rates
Purchase interest: 21.99%
Cash advance: 21.99%
Balance transfer: N/A
Ratehub.ca's take
The Marriott Bonvoy American Express Card is specifically made for hotel rewards, making it an excellent card for frequent travellers and one of the best hotel rewards credit cards in Canada. With this card, you’ll earn five Bonvoy points for every $1 spent on eligible card purchases at hotels participating in the Marriott Bonvoy® program, and two Bonvoy points per dollar on all other card purchases. Points can be redeemed for free nights at more than two dozen hotel brands including Marriott, Starwood Hotels and Resorts, W Hotels, St. Regis, Ritz Carlton, Sheraton, and Delta.
Pros
- More than 7,000 hotels worldwide under this loyalty program
- Annual free night’s accommodation at any Marriott Bonvoy hotel
- Complementary Marriott Bonvoy Silver Elite status
Cons
- Does not include travel emergency medical insurance within the insurance package
Best credit card for Aeroplan
Best for Aeroplan Points
based on spending $2,200/mo after $139 annual fee
- Earn rewards
1pt – 1.5pts / dollar spent
- Welcome bonus
Earn up to 25,000 points (a $500 value)
- Anniversary bonus
Earn up to 20,000 points (a $400 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. |
| 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 | 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 | 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
- Up to $1,450 in value† including up to 45,000 Aeroplan points† could be yours and receive an annual fee rebate for the first year†. Conditions Apply.
- 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 $3,000 within 90 days of Account opening†
- Plus, earn a one-time anniversary bonus of 20,000 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.
- Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer unless otherwise indicated.
- Earn Aeroplan Points on your everyday purchases
- Complimentary Visa Infinite* Concierge service† available 24/7
- Earn 1.5 points† for every $1 spent on eligible gas, electric vehicle charging, grocery and direct through Air Canada® purchases (including Air Canada Vacations®) made with your Card.
- Earn 1 point† for every $1 spent on all other Purchases made with your Card
- Earn points twice when you pay with your Card and provide your Aeroplan number at over 150 Aeroplan partner brands and at 200+ online retailers via the Aeroplan eStore (www.aeroplan.com/estore).
- Your Aeroplan Points do not expire as long as you are a TD® Aeroplan® Visa Infinite* Cardholder in good standing.
- Earn more at Starbucks: Link your eligible Card to earn more Starbucks Stars at participating Starbucks stores. Conditions apply.
- This offer is not available for residents of Quebec
- †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%
Ratehub.ca's take
Aeroplan clients and frequent Air Canada fliers searching for a card to help them earn more on travel should look no further than the TD Aeroplan Visa Infinite. Users can earn 1.5 points for every dollar spent on eligible gas, grocery, and direct through Air Canada purchases (including Air Canada Vacations) and 1 point per dollar on everything else. The card also includes both a welcome and anniversary bonus:
Welcome bonus: 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 $3,000 within 90 days of Account opening
Anniversary bonus: earn a one-time anniversary bonus of 20,000 Aeroplan points when you spend $12,000 within 12 months of Account opening. Conditions apply.
Pros
- Aeroplan points can be redeemed for flights on Air Canada or over 27 Star Alliance member airlines (including United Airlines and Lufthansa, to name a few)
- Access to Air Canada perks: first bag checked free on Air Canada flights for the primary cardholder and up to eight travel companions (up to $30 in savings per traveler on flights across Canada and the US) plus the ability to earn credits towards achieving elite airline status
- Up to $100 in Nexus Membership reimbursements available every 48 months; allowing for smoother cross-border travel within Canada or between the US
- Comprehensive travel insurance benefits with 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
- Can get double the Aeroplan points when using this card in conjunction with your Aeroplan card at participating retailers
Cons
- The card’s annual fee is $139 versus the $120 typically found on comparable rewards cards
- The Aeroplan points program isn’t the most straightforward, and navigating your way around the program’s quite elaborate rewards chart / understanding how to best maximize points can require considerable effort
- Aeroplan points can’t be redeemed on any airline but only on Air Canada and Star Alliance Members
Honourable mention for best credit card for Aeroplan
Best for Groceries & dining
based on spending $2,200/mo after $192 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Welcome bonus
Earn up to 15,000 points (a $150 value)
- Annual fee
$192
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. |
| 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 $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 consecutive 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 | up to $500 (combined maximum with Baggage Delay Insurance); 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 (combined maximum with Flight Delay Insurance); 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 | $500 against the loss of most personal items (excluding cash) | 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 | up to 1 additional year | 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
- Apply with confidence! See if you’ll be approved before you apply – with no impact to your credit score*.
- *Instant decisions are only available for Consumer (also known as Personal) Card applications.
- 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
- 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
- $15.99/month (Equals $191.88 annually) for non-Quebec residents. $191.88/year for Quebec residents.
- 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 $15.99 (totalling an annual fee of $191.88, 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
Ratehub.ca's take
If you’re looking for a well-rounded, lucrative rewards card that’s just as great for everyday spending as it is for travel, the American Express Cobalt has got you covered. Cardholders can take advantage of the strong travel insurance, impressive welcome bonus, and flexible point redemption options.
Offering an industry-leading five times the points (valued at $0.01 per dollar) on eligible restaurants and food delivery purchases, three times the points on eligible streaming services, and twice the points on travel and daily transit, the American Express Cobalt easily takes our prize for best overall travel credit card in Canada. Aside from that, the card’s welcome bonus gives new users the ability to earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Pros
- Great welcome bonus - earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
- Flexible and easy point redemption, allowing cardholders to redeem their Membership Rewards for travel, gift cards, merchandise, or purchases. Frequent flyers can also transfer their points 1:1 to several loyalty programs.
- Earning potential for restaurants and takeout is significantly higher than most other cards
- Access to Front of the Line Presale and Reserved tickets to concerts, theater performances, movie screenings, and culinary events, along with other special offers
- Strong travel insurance package including up to $5,000,000 in travel emergency medical
- No fee for additional authorized users (an average fee of $30 - 50 on other comparable cards)
Cons
- Monthly fee of $12.99 (coming to an annual fee of $192, which is higher than most other rewards cards)
- American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Travel insurance package does not cover trip cancellation or medical coverage for cardholders over the age of 65
- Airport lounge access isn’t provided, which may be disappointing to frequent travels
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Types of credit cards
1. Rewards cards
Rewards cards are the most popular type of credit card, and for good reason: these cards allow you to collect points or cash back with every dollar you spend. Depending on the card and provider, you can redeem these rewards for travel, statement balances, future purchases, and more. But let's take a deeper look into which cards fall under the "rewards" umbrella.
- Travel: Travel rewards cards are perfect for frequent flyers, as the points you earn by using the card can be redeemed for big discounts on flights and accommodations. These cards also frequently come equipped with thorough travel insurance coverage as well as fancy perks such as VIP airport lounge access, complimentary checked baggage, priority security lines, and hotel room upgrades. Some even feature no foreign transaction fees, allowing you to use the card abroad without having to pay an extra fee for purchases in foreign currency.
- Cash back: Another popular rewards card option is the cash back credit card. Unlike cards that offer points, cash back cards earn you different percentages back on specific spending categories such as gas and groceries (or, in the case of some cards, one flat rate across the board). Cash back rewards are also pretty straightforward: users can typically log into their account online and see their rewards total in dollars and cents. Cash back rewards are typically redeemed for statement balances, but some cards offer other options such as gift cards or savings account deposits.
- Retail: For loyal customers of certain retailers, getting a retail rewards card could be a smart choice. These cards often boast accelerated points or cash back when you use the card at their partnered stores, allowing you to get the most out of your regular shopping trips. While these cards aren't super useful in the outside world, those who regularly visit these retailers can net big rewards over time, leading to savings on future purchases.
2. Low-interest and balance transfers cards
While it's not recommended, those who tend to carry a balance on their account from month to month would benefit from a low-interest credit card. The interest rates on your card may not seem like much at first, but allowing them to creep in month after month will take a toll on your credit card balance and credit score. That's why owning a low-interest credit card would be beneficial - if you're taking the risk of accumulating interest, you'll suffer less potential damage with a lower rate. Low interest credit cards in Canada offer rates as low as 8.99% to 14.99%, but keep in mind that rewards and perks on these cards are minimal to non-existent.
For those attempting to overcome credit card debt, a balance transfer card could be the ticket back to healthy credit. Essentially, users with debt can offload a percentage (or the entirety) of what they owe onto the card, most of which offer introductory interest rates as low as 0% for a specific period of time (usually 6-12 months). If you've got a solid repayment plan and can eradicate your debt in that window, a balance transfer card can allow you to do so much quicker without the added stress of additional interest in your way. They will charge a balance transfer fee (usually around 3% of the total you're transferring), but the benefit of much lower (or zero) interest is generally worth it.
3. Secured credit cards
Secured credit cards are perfect for newcomers to Canada, students just starting their credit journey, or users trying to rebuild their credit after suffering a financial loss such as bankruptcy. These cards require an upfront security deposit to activate, and your credit limit on the card will be the same amount. While you can generally deposit as much as you'd like, there are usually minimums (anywhere from $50 to $500) and maximums (around $10,000) set in place by your provider.
This security deposit acts as a kind of collateral for the issuer in case of missed or late payments, and it's why secured credit cards are incredibly easy to be approved for. The most important thing about secured credit cards, however, is that they report your payments to Canada's credit bureaus. This is imperative to building credit, as these organizations track your credit behaviour and assign you a score that will determine your ability to be approved for future credit cards, mortgages, lines of credit, and more. If you use a secured credit card consistently and responsibly, you'll eventually build your score and graduate to a non-secured credit card, closing down your secured account in good standing and receiving your deposit back in full.
What to look for in a credit card
Shopping around for the right credit card can be overwhelming. There's a lot of information to consider, and you don't want to get stuck with something less-than-ideal. Thankfully, there are a handful of major features you'll always want to look at when making a decision. Here are a few things to look out for when assessing credit cards in Canada:
1. Annual fee: Arguably, the first thing to look at when considering a credit card is the annual fee. This can vary card-by-card (some don't have one at all), but generally the more rewards and perks a card offers, the higher its fee will be. If you're in a higher income bracket, the bells and whistles of a top-tier rewards card may be worth the substantial yearly charge. For others, however, an annual fee can eat into your cash back or points, making your eventual savings much less than they should be. Plus, it's one more bill you'll have to pay. If you're on a fixed income or don't plan on using your card much, you may be better off with a no fee credit card.
2. Interest rate: If you're someone who tends to keep a balance from month to month, you'll want to look at the interest rate of a credit card before you apply. This is a percentage of your total statement that will be charged on top of your principal owed if you don't pay your bill in full and on time. Most cards carry an interest rate of around 19.99-22.99%, but if that's a concern for you, look into low interest credit cards instead. These cards have lower standard interest rates, and sometimes will offer promotional rates of zero to ultra-low interest for a specific window of time.
3. Rewards: One of the biggest reasons why people apply for credit cards is the ability to earn and collect rewards. Whether it's in the form of cash back, points, or miles, users can redeem them for travel, merchandise, statement credits, and more (depending on the card and provider). When considering what types of rewards are best for you, think about your lifestyle and spending habits. If you're a frequent traveller, a travel card that rewards you for purchasing flights and hotel rooms could make your life a lot easier. On the other hand, if you mostly intend to use your card for regular errands like groceries and gas, an everyday cash back card with high earning potential in those categories would probably suit you best.
4. Welcome offers and incentives: Most credit cards offer signup incentives designed to entice new customers. These can range from a waived annual fee for the first year, accelerated rewards for a limited time, and an ultra-low promotional interest rate, among other things. Shop around and compare welcome offers to see which one offers the best value. Taking advantage of the right promotion at the right time could net you some serious savings. One thing to keep in mind, however, is that signup offers and promotions don't last forever. Eventually, the card's typical annual fee, interest rate, and reward system will kick in, so make sure you are going to be alright with those before signing up.
5. Eligibility: Getting rejected for a credit card can not only hurt your pride but your credit score, too. That's why it is important to have a good idea of your eligibility for a card before applying. Pay attention to the card's minimum income requirement and make sure you meet or exceed it. Also, make sure your credit is in good standing. To find out which cards you'll be most likely to get approved for before applying, use our handy credit card CardFinder and eligibility checker.
Everyone's needs are different, so view the elements above in terms of what most benefits you and what you can afford.