Best Flexible Rewards Credit Card in Canada for 2026
Credit cards that offer multiple ways to spend your hard-earned rewards.
Although the best flexible rewards credit card in Canada is the MBNA Rewards World Elite Mastercard, the Scotiabank Gold American Express Card and Neo World Elite Mastercard are also great options to consider.
A good flexible rewards credit card has a valuable and varied rewards system. The right card allows you to adjust how you use your rewards, whether you need to pay down debt, make a big purchase, or book upcoming travel.
| Credit card | Annual fee | Top redemption options | Max. point value |
|---|---|---|---|
| MBNA Rewards World Elite Mastercard | $120 | * E-gift cards * Gift cards * Travel | 1.0 CPP |
| Scotiabank Gold American Express Card | $120 | * Sobeys and Safeway groceries * Home Hardware * Cineplex movie tickets * Restaurants * Travel | 1.0 CPP |
| Neo World Elite Mastercard | $125 | *Merchandise * Statement credits | 1.0 CPP |
Value of reward in $ / value of reward in points x 100 = cent per point (CPP) value
The guide below compares flexible rewards cards from all networks and several credit card issuers, with options ranging from no-fee cards to premium options. These top cards were selected using over 126 data points across 7 categories.
Key Takeaways
- Flexible rewards offer multiple ways to spend your rewards – without sacrificing point value.
- MBNA Rewards can be redeemed for travel and e-gift cards at almost the same rate, which is rare.
- If you frequent Cineplex, Sobeys, or restaurants like East Side Mario's, you'll enjoy the flexibility of Scene+ rewards points.
- Neo offers straight cash back, or you can check for offers in the Neo Store.
The best flexible rewards credit cards in Canada
Our Gold award for the #1 flexible rewards card in Canada goes to the MBNA Rewards World Elite Mastercard, thanks to its 2.86% average return and versatile redemption options. Many rewards points drop significantly in value when you redeem for gift cards instead of travel, but MBNA Rewards lets you redeem for e-gift cards at only a fractionally lower rate. Points spent on travel are worth 1 cent per point, while points spent on e-gift cards are worth 0.99 cents each, netting you almost as much value.
Our Silver award goes to the Scotiabank Gold American Express Card. In addition to earning flexible Scene+ points with an average return of 2.45%, this card waives its annual fee for the first year.
Our Bronze award goes to the Neo World Elite Mastercard with its average return rate of 2.86%. Instead of points, this card earns straight cash back.
If you're looking for a flexible Visa card instead of Amex or Mastercard, the best-ranking option is the TD First Class Travel Visa Infinite Card. This card has a lower average earn rate of 1.94%, but it comes with an annual travel credit of $100 on an Expedia For TD purchase of $500 or more.
Prefer a card with no annual fee? Check out the More Rewards RBC Visa Infinite. This card has a return rate of 2.11% through the More Rewards points program.
| Credit card | Annual fee | Top redemption options | Max. point value |
|---|---|---|---|
| TD First Class Travel Visa Infinite Card | $125 | * Cash for travel * Travel | 1.0 CPP |
| More Rewards RBC Visa Infinite | $0 | * Save-On, Quality Foods, and other groceries *Gift cards * Travel | 0.5 CPP |
Canada's best flexible rewards credit card: MBNA Rewards World Elite Mastercard
×7 Award winner 
$20 GeniusCash + Up to 30,000 bonus points + birthday bonus worth up to 15k points.*
GC: $20
7x Award winner 
The MBNA Rewards World Elite Mastercard has a great average return rate of 2.86%. You can redeem your MBNA Rewards points on travel, gift cards, or e-gift cards for 0.9 – 1 CPP.
You're only limited by the stores and travel providers listed on the MBNA Rewards website – and last we checked, there were 60+ brands to choose from, including retail giants like Amazon, Best Buy, and Walmart. Plus, you can price match!
How to earn points:
- 5 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $50,000 spent annually per category)
- 1 point per $1 spent on all other purchases
Best ways to redeem points:
- Travel
- E-gift cards
- Gift cards
And since this is a World Elite Mastercard, you get access to premium perks. For example, you can buy tickets to exclusive dining events, get 20% off admission to Cirque du Soleil, or entry to one of 1,300+ DragonPass airport lounges for just $32 USD.
Silver award flexible rewards credit card: Scotiabank Gold American Express Card
×3 Award winner GC: $100
3x Award winner 
Though it has a slightly lower return rate of 2.45%, the Scotiabank Gold American Express Card also offers a variety of redemption options valued at 1 CPP.
Scene+ points yield the same value for a multitude of in-store discounts as they do for travel, making the Scotiabank Gold American Express Card another highly flexible option. This card also boasts a $450 welcome bonus.
How to earn points:
- 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more
- 5 Scene+ points per $1 spent on groceries, dining, and entertainment
- 3 Scene+ points per $1 spent on gas, select streaming services, and transit
- 1 Scene+ point per $1 spent on foreign currency purchases
- 1 Scene+ point per $1 spent on all other purchases
Best ways to redeem points:
- Travel
- Cineplex
- Home Hardware
- Sobeys
- Recipe Unlimited Restaurants, like Swiss Chalet, Harvey's, and East Side Mario's
Take the Scotiabank Gold American Express Card with you when you travel to save 2.5% on currency exchange rate fees and $99 USD on a Priority Pass airport lounge membership.
Bronze award flexible rewards credit card: Neo World Elite Mastercard
The Neo World Elite Mastercard provides a healthy 2.55% average earn rate on purchases for its $125 annual fee. Some cash back cards limit redemption to scheduled payouts, but Neo immediately adds any cash back earned to your Rewards Wallet, which you can find on the Neo app or website.
How to earn cash back:
- Average of 5% cash back at partner retailers
- 5% cash back on groceries, up to $1,000 spent monthly
- 4% cash back on recurring bills, up to $500 spent monthly
- 3% cash back on gas and EV charging, up to $1,000 spent monthly
- 1% cash back everywhere else
Best ways to redeem cash back:
- Apply cash back to your statement
- Transfer cash back to your Neo Everyday account
Alternatively, you can use cash back on purchases in the Neo Store. The value you can get in the Neo Store varies. For example, we found a $100 giftcard for The Keg available for only $90. However, we also found items that retail for less elsewhere.
Make sure you're getting the same (or better) value in the Neo Store as you would elsewhere. Otherwise, it's better to transfer your cash to your Neo account and buy the item directly – then you can earn even more cash back on the purchase!
The best flexible rewards Visa: TD First Class Travel Visa Infinite Card
GC: $20
Since all the best flexible rewards credit cards in Canada are Mastercard or American Express cards, it's worth highlighting the highest-ranking Visa: TD First Class Travel Visa Infinite Card.
While this card's average return rate is lower at 1.94%, loyal Expedia for TD travellers can earn points at a rate of 4%.
How to earn points:
- 8 points per $1 spent on travel booked online through Expedia For TD
- 6 points per $1 spent on groceries, restaurants, and public transit
- 4 points per $1 spent on recurring bill payments, streaming, digital gaming, and media
- 2 points per $1 spent on all other purchases
Best ways to redeem points:
- Travel from Expedia For TD (0.5 CPP)
- Other travel (0.4 CPP)
With the TD First Class Travel Visa Infinite Card, you can redeem 250 TD Rewards points for $1 off any travel-related expense and 200 points for every $1 over $1,200.
That's only slightly less value than booking travel through Expedia for TD (for 0.5 CPP).
This card also comes with an annual travel benefit. Every year, when you make a purchase of at least $500 on Expedia For TD, you'll get a $100 credit.
The best flexible rewards card with no annual fee: More Rewards RBC Visa Infinite
If you want rewards without the annual fee, the More Rewards RBC Visa Infinite offers an average earn rate of 2.11% and a $86 welcome bonus.
At first glance, the card may seem like it's only for residents of British Columbia, as the More Rewards footprint is limited. However, More Rewards points can be redeemed online – and redeeming points online for travel actually nets you more value than redeeming them in Western Canadian grocery stores.
How to earn points:
- 8 points per $1 spent at More Rewards partner stores
- 8 points per $1 spent on gas, EV charging, and dining
- 4 points per $1 spent on all other purchases
Best ways to redeem points:
- Travel
More Rewards has partner stores in British Columbia, Saskatchewan, Alberta, Yukon, and Manitoba. Grocery brands include Save-On Foods, Buy-Low Foods, Price-Smart Foods, Quality Foods, and Nesters Market. Other brands include Pure Pharmacy and Urban Fare, which offers catering and gift baskets in addition to groceries.
Compare all top flexible rewards credit cards by Genius Rating
In our search for the best flexible rewards credit cards in Canada, we considered only cards with at least 2 valuable redemption options.
The Genius Rating algorithm calculated each card's earning power using a $3,000 monthly budget based on the spending patterns of the average Canadian.
Here's how the top flexible cards rank, in order of Genius Rating:
×7 Award winner GC: $20 7x Award winner GC: $20
×3 Award winner GC: $100 3x Award winner 
The Genius Rating methodology
Our algorithm evaluated over 126 features in seven major categories, weighted to prioritize flexible rewards:
- Rewards (54%)
- Fees (13%)
- Insurance (11%)
- Perks (11%)
- Interest (5%)
- Approval (3%)
- Acceptance (3%)
Learn more about the Genius Rating methodology
How to choose the right flexible rewards card
When looking for a flexible rewards card, consider:
- Where you spend the most money
- How you want to spend your rewards
While the average earn rate calculated by our algorithm is a great benchmark, consider your own spending habits. Likewise, while a card may offer the best flexibility in Canada, it's not the right card for you if you aren't interested in the highest-value rewards.
Fortunately, Canada's best flexible rewards cards cover every key area of redemption: travel, shopping, and straight cash back.
If there are multiple cards that suit your preferences for rewards, also consider the insurance and perks offered by each one.
Rewards
When comparing rewards, you'll need to consider both the number of points earned and the value of each point. For equal comparison, we divide the service or item's cash value by the number of points required to obtain it, expressed as cents per point (CPP).
Value of reward in $ / value of reward in points x 100 = cent per point (CPP) value
We recommend redemptions that are worth at least 1 CPP.
In many cases, you'll find that travel redemptions give you the highest CPP, while merchandise and gift cards tend to offer a fairly low value.
This one area where the MBNA Rewards World Elite Mastercard shows its flexibility. When it comes to gift cards, your Scene+ point value drops to 0.74 CPP for gift cards and TD Rewards point value drops to 0.25 CPP. Through MBNA rewards, you can find physical gift cards at 0.92 CPP and e-gift cards at 0.99 CPP.
You can also look for high-value gift cards and merchandise in the Neo Store. Even though the Neo World Elite Mastercard is a cash back card, Neo's cash back works similarly to points by offering the option to shop for deals and offers.
Fun fact: Scene+ points can be pooled within your household, so you can work together to build up your rewards.
Use our Rewards Point Calculator to explore the value of points across MBNA Rewards, Scene+, TD Rewards, More Rewards – and other Canadian rewards programs.
You may have noticed TD's points are worth half as much as MBNA Rewards' travel redemption option. Does this mean the points are half as valuable?
Yes and no. While the points are half as valuable, they can't be directly compared because they're earned at different rates. For example, let's say you're purchasing a new pair of jeans for $100. This item doesn't fit into bonus spending categories for either card, so you'll earn the base rate.
MBNA earns 1 point per dollar, resulting in 100 points.
1 point x 100 dollars = 100 points
Each point is worth 1 cent, so this earns you $1 toward your next vacation.
100 points x 1 cent = $1
TD earns 2 points per dollar, resulting in 200 points.
2 points x 100 dollars = 200 points
Each point is worth 0.5 cents, so this earns you $1 toward your next vacation.
200 points x 0.5 cents = $1
Here's where MBNA comes out on top for flexibility: If you decide you don't want to spend your points on travel, your MBNA points maintain most of their value when spent on e-gift cards, while your TD point value drops significantly.
As well, the MBNA Rewards World Elite Mastercard has a higher average earn rate, so you'll earn more points on average.
Fees
Here's how the best flexible rewards cards stack up in terms of fees:
When deciding whether a card is worth its annual fee, consider the value of its perks and rewards. As an example, here's an estimated return for each card, based on a $3,000 monthly spend, split across popular categories like groceries and travel.
You'll see that, on average, TD First Class Travel Visa Infinite Card comes out at the bottom for estimated rewards, even though it charges the highest fee. A few things to keep in mind:
- If you spend a lot on travel through Expedia For TD, you'll see higher than average returns.
- Part of the fee can be offset by your $100 travel credit if you make a $500 Expedia For TD purchase.
- The annual fee is waived for the first year, so you can see for yourself whether this card is a good fit for you.
Overall, if you're loyal to Expedia For TD, this is still a valuable, flexible rewards card. You still redeem points for other travel – you just don't earn at the 8x bonus rate. Otherwise, stick to the top 3 cards for much better rewards.
You should also pay attention to foreign transaction fees if you plan to travel, as most banks charge 2.5% of the purchase amount when paying in a foreign currency. You'll pay this fee with all of the cards on this list, except the Scotiabank Gold American Express Card, which waives the fee completely, making it a great choice for international travellers.
Insurance
As a no-fee flexible rewards card, the More Rewards RBC Visa Infinite offers only 3 types of insurance. You'll get 90 days of purchase protection and 1 year of extended warranty coverage, but you won't see any travel insurance. You will, however, get mobile device protection, which even some premium cards skip.
Here's a breakdown of the insurance available for the top 3 cards (and the top Visa card).
| MBNA Rewards World Elite Mastercard | Scotiabank Gold American Express Card | Neo World Elite Mastercard | TD First Class Travel Visa Infinite Card | |
|---|---|---|---|---|
| Extended warranty | 1 year | 1 year | 1 year | 1 year |
| Purchase protection | 90 days | 90 days | 90 days | 90 days |
| Mobile device | $1,000 | $1,000 | N/A | $1,000 |
| Flight delay | $500 | $500 | $1,000 | $500 |
| Baggage delay | $500 | $1,000 | $1,000 | $1,000 |
| Emergency medical | N/A | 25 days | 14 days | 21 days |
| Travel accident | $1,000,000 | $500,000 | N/A | $500,000 |
| Hotel burglary | N/A | $1,000 | $1,000 | $2,500 |
| Rental car | Coverage for theft, damage, accidents, and personal effects | Coverage for theft and damage | Coverage for theft, damage, accidents, and personal effects | Coverage for theft and damage |
Interest rates
Canada's best flexible rewards cards have fairly standard interest rates:
- MBNA Rewards World Elite Mastercard – 21.99%
- Scotiabank Gold American Express Card – 20.99%
- Neo World Elite Mastercard – 19.99%
- TD First Class Travel Visa Infinite Card – 21.99%
- More Rewards RBC Visa Infinite – 20.99%
While the Neo World Elite Mastercard offers the lowest rate of the bunch, this interest will still stack up quickly. If you know you're likely to carry a balance, check out Canada's best low-interest credit cards.
You won't earn as many rewards with a low-interest card, but it's more important to minimize the interest you'll pay, as this will put more money back in your pocket overall.
Approval
Before you apply for your favourite flexible rewards card, make sure you're eligible:
| Credit card | Minimum income requirements | Estimate credit score requirements |
|---|---|---|
| MBNA Rewards World Elite Mastercard | $80,000 personal or $150,000 household | 725 - 759 |
| Scotiabank Gold American Express Card | $12,000 personal | 660 - 724 |
| Neo World Elite Mastercard | $80,000 personal or $150,000 household | 560 - 659 |
| TD First Class Travel Visa Infinite Card | $60,000 personal or $100,000 household | 660 - 724 |
| More Rewards RBC Visa Infinite | $60,000 personal or $100,000 household | 660 - 724 |
Acceptance
The MBNA Rewards World Elite Mastercard and Neo World Elite Mastercard rank higher than the Scotiabank Gold American Express Card for acceptance.
Mastercard is widely accepted at major retailers across Canada and internationally. While most merchants accept Amex cards too, you won't be able to use your American Express card at Costco or Loblaws, which is a big deal for some Canadian shoppers.
FAQ
What is a flexible credit card?
A flexible credit card is one that offers multiple options for valuable rewards. Usually, you can choose to redeem points or miles for rewards like travel, cash back, statement credits, merchandise, and gift cards. When evaluating every credit card in Canada, creditcardGenius considers cards with 2 or more high-value redemption options to be flexible rewards credit cards.
What is the most rewarding credit card in Canada?
The most rewarding credit card in Canada is the American Express Cobalt Card, which offers an average return rate of 4.5%. This means you'll earn an average of $4.50 for every $100 you charge to your credit card. The best way to spend rewards on this card is by transferring them to Aeroplan.
Which Canadian bank has the best rewards program?
CIBC Aventura and American Express Membership Rewards offer high rewards value, with points worth 2 cents or more. MBNA Rewards and Scene+ offer excellent flexibility, meaning you can change your mind about how to spend your points without sacrificing point value. Use our rewards calculator to calculate point value across Canadian rewards programs.
What is the most successful rewards program?
This might come as a surprise, but McDonald's Rewards is the rewards program that offers the highest rate of return of any rewards program in Canada, followed by VIPorter, which focuses on travel rewards. The most successful rewards program for you depends on your spending habits.
What happens if I don't use a reward I've earned yet?
Typically, as long as your account is active and in good standing, rewards don't expire, so your rewards will be waiting for you. But reward expiry varies by program, so always check the fine print. To check or use rewards, log in to your associated account.
Can I move between reward options?
Depending on the credit card, yes, you can move between reward options. Even Air Miles is opening up its reward program by merging Cash and Dream Miles. However, some cards offer much better value for some rewards over others, so if you aren't sure how you want to spend your points, opt for a flexible rewards credit card.
Is flexibility worth paying more annual fee for?
With an average monthly spend of $3,000, you can expect approximately $1,030 in annual returns from the MBNA Rewards World Elite Mastercard, making it well worth its fee of $120. However, whether you want to pay for flexibility comes down to your budget, spending habits, and what you want out of a credit card.
