Best overall credit card in Canada for 2020 award seal

Some people have a hard time deciding what they really want.

Doesn’t matter what it is: new car, new house, new shoes…’s hard to zero in on things that are most important.

Choosing a credit card is no different.

Rewards, insurance, cash back, perks, low interest, good reviews ...they ALL sound good, right? Right!

If you're trying to work out which credit card is the best for you, you’ve come to the right place.

Not only have we taken all the cards in our database and calculated their rewards at the max possible earnings, but we've also considered things like insurance, perks, interest, and anything else that makes a card stand out (for better or worse). Then we compiled a list of the 10 best Canadian credit cards overall.

We’re talking the best of the best. The cream of the crop…

So, how’d we do it? We review a total of 126+ features of each credit card we track. After we crunch some numbers, we show you the annual rewards in real dollars and calculate our Genius Rating out of 5.

And what’s more? Our top 10 list has nothing to do with affiliate relationships or personal preference. Our algorithm is strictly independent and completely math-based, so you can know we stand behind our picks.

So while we know that there's no "one size fits all" credit card…

We do believe that the cards on our list are the best cards in Canada right now.

Best overall credit card in Canada

The best overall credit card in Canada for the 3rd year in a row is the .

Why this card? Well for starters, it won 5 other awards as well:

How did it win all of these awards? By earning plenty of points that have great value.

Here's what you earn for your spending on this card:

  • 5 points per $1 spent on groceries and restaurants,
  • 2 points per $1 spent on gas, travel, and transit purchases, and
  • 1 point per $1 spent everywhere else.

As a welcome bonus, you'll also earn 2,500 points for every month you spend $500 in the first 12 months. That's up to 30,000 points right there.

But more than earning plenty of points, this card offers great value and many ways to use them.

The best value is by using the American Express Fixed Points chart to book flights. You can get a value of up to 2 cents each when redeemed this way.

When booking any travel from any provider, each point is worth 1 cent each.

When using your points for a cash statement credit, each one is worth 0.7 cents.

You can even transfer your points to Marriott Bonvoy at a 5:6 ratio.

And with an insurance package that features 9 types of purchase and travel protection, you're covered if something happens during your travels.

Add it all up, and American Express has a clear winner for best credit card of 2020.

Here's our list of the best credit cards in Canada that almost made it to our top spot:

Compare Best Overall Credit Cards

Featured In

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