Best Rewards Credit Cards In Canada For October 2025
Credit cards to earn the most rewards points – no matter which kind you collect.
With a 4.5% average rate of return and a valuable, flexible rewards program, the American Express Cobalt Card is by far the best rewards credit card in Canada.
The competition can't touch the Cobalt's earn rate, but they do offer significant other benefits. For instance, the American Express Aeroplan Reserve Card offers unique perks like discounted parking and priority limo services, and the MBNA Rewards World Elite Mastercard gives you a cool birthday bonus.
The detailed reviews below cover all the features and details of Canada's best rewards cards, including pros and cons, rewards program comparisons, and tips on how to choose just the right card.
Key Takeaways
- The best rewards credit card in Canada is the American Express Cobalt Card.
- The best cash back rewards credit card in Canada is the MBNA Rewards World Elite Mastercard.
- The higher the annual fee, the better the rewards – but after $200, you’re paying more for perks than points.
- When it comes to spending rewards points, financial credits and travel rewards generally offer better value than gift cards or merchandise.
The best rewards credit cards in Canada for October 2025
Most people choose a new credit card based on its rewards or cash back earnings, but a hefty welcome bonus is nice, too. Plus, you don’t want too many fees or interest cutting into the rewards you collect.
To help you compare the best rewards credit cards in Canada, we calculated each entrant’s rewards-earning power, or return rate:
Value of rewards in Canadian dollars / Canadian dollars spent = return rate
A 5% return rate is fantastic – it means you get $5 back in rewards for every $100 you spend! Most cards average around 1 – 2%, but none of our top rewards credit cards in Canada offer less than 2.25%.
| Category | Credit card | Annual fee | Average rate of return | Top Spending Categories |
|---|---|---|---|---|
| Best rewards in Canada | American Express Cobalt Card | $155.88 | 4.50% | * Groceries * Restaurants |
| Best cash back | MBNA Rewards World Elite Mastercard | $120 | 2.86% | * Groceries * Recurring bills * Restaurants |
| Best Visa | TD Aeroplan Visa Infinite Privilege Credit Card | $599 | 2.78% | * Air Canada |
| Best for perks | American Express Gold Rewards Card | $250 | 2.75% | * Drugstores * Gas * Groceries * Travel |
| Best Aeroplan rewards | American Express Aeroplan Reserve Card | $599 | 2.79% | * Air Canada |
| Best for foreign travel | Scotiabank Gold American Express Card | $120 | 2.45% | * Select Scene+ partners |
| Best low fee | RBC Avion Visa Infinite | $120 | 2.36% | * Travel |
1. Best rewards credit card in Canada
×8 Award winner Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
8x Award winner Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
Average return rate: 4.5%
Top spending categories: Groceries and restaurants
Rewards:
- 5 points per $1 spent on eligible groceries and restaurants
- 3 points per $1 spent on eligible streaming services
- 2 points per $1 spent on eligible gas, transit, and ride share purchases
- 1 point per $1 spent on foreign currency purchases
- 1 point per $1 spent on all other purchases
What we love: The American Express Cobalt Card showcases the best American Express has to offer: modest fees, valuable rewards, and (most importantly) tremendous earning power. It has a high return rate in multiple spending categories, making it the best gas, grocery, and restaurant credit card in the country. There's a reason we call it the #1 credit card for rewards in Canada.
Considering the Cobalt Card’s rewards (and the fact Amex Membership Rewards points are worth up to 2 cents each), the monthly $12.99 fee is more than worth it. There are also all the partner promotions, early access event tickets, and complimentary hotel upgrades added by Amex Offers, Front of the Line, and The Hotel Collection.
What we don’t: As an American Express card, the American Express Cobalt Card won’t be accepted as widely as a Visa or Mastercard.
2. Best cash back rewards credit card
×4 Award winner 
$150 GC Boost + Up to 30,000 bonus points + birthday bonus worth up to 15k points.*
GC: $125 + $25
4x Award winner Average return rate: 2.86%
Top spending categories: Groceries, recurring bills, and restaurants
Rewards:
- 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
What we love: The MBNA Rewards World Elite Mastercard is one of the few flexible rewards credit cards whose cash and cash-like rewards are just as valuable as their travel, which makes it the best cash back credit card in our books. It helps that the card awards you a generous 10% bonus on your birthday. You can redeem your MBNA Rewards for high value on flights, gift cards, and e-gift cards.
It’s also a World Elite Mastercard. This means that as a cardholder, you’ll enjoy concierge services, Cirque du Soleil discounts, and a complimentary DragonPass that gives you access to 1,300+ global airport lounges for $32 USD per visit.
What we don’t: The MBNA Rewards World Elite Mastercard has a high income requirement – either $80,000 personal or $150,000 household – which makes it less accessible. Additionally, at the time of writing, MBNA cards are not compatible with Google Wallet, which will be a noticeable lack of convenience for some people.
3. Best Visa rewards credit card
Average return rate: 2.78%
Top spending categories: Air Canada purchases
Rewards:
- 2 points per $1 spent on Air Canada
- 1.5 points per $1 spent on eligible gas, electric vehicle charging, groceries, travel & transit and dining
- 1.25 points per $1 spent on all other purchases
What we love: The TD Aeroplan Visa Infinite Privilege Credit Card owes much of its success to Air Canada's Aeroplan Rewards program. When redeemed for an Air Canada flight, each Aeroplan point yields an average value of 2 CPP, making the TD Aeroplan VIP an excellent travel credit card.
It also includes VIP status at Air Canada, 12 types of credit card insurance, and the full complement of Visa Infinite Privilege benefits. You’ll get access to 24/7 concierge services, exclusive dining events, six free airport lounge passes to Dragonpass lounges, and unlimited access to Maple Leaf Lounges for you and a guest.
What we don’t: The TD Aeroplan Visa Infinite Privilege Credit Card is flat-out expensive. With a hefty annual fee of $599 and income requirements of $150,000 personal or $200,000 household, it’s a very exclusive card. And for such an expensive card, its rewards aren’t very versatile – the only high-value rewards you can redeem are Air Canada flights.
4. Best rewards credit card for perks
GC: $125
Average return rate: 2.75%
Top spending categories: Drugstores, gas, groceries, and travel
Rewards:
- 2 points for every $1 spent on gas, groceries, drugstores, and travel
- 1 point for every $1 spent on all other purchases
What we love: The American Express Gold Rewards Card pairs modest rewards with flashy perks to create a fantastic credit card for frequent travellers.
It’s got everything: travel credits, NEXUS credits, 11 types of travel insurance, airport lounge access, rental car upgrades, complimentary Priority Pass membership, and exclusive hotel benefits – all wrapped up in a shiny metal card. The Amex Gold Rewards Card offers a premium travel experience for a slightly less-than-premium price.
What we don’t: The American Express Gold Rewards Card is perk-rich, but lacking in rewards. And while the $250 annual fee is lower than premium cards, it’s still fairly high.
5. Best Aeroplan rewards credit card
Average return rate: 2.79%
Top spending categories: Air Canada purchases
Rewards:
- 3 points per $1 spent on Air Canada
- 2 points per $1 spent on dining and food delivery purchases in Canada
- 1.25 points per $1 spent on all other purchases
What we love: There are other Aeroplan credit cards on this list, but nobody does it quite like Amex. With the American Express Aeroplan Reserve Card, you can earn Aeroplan points with every purchase and unique perks such as discounted parking and priority limo, security, and taxi lanes at Toronto Pearson Airport.
Besides unlimited access to Maple Leaf Lounges, cardholders also receive a complimentary Priority Pass membership to enter 1,500+ airport lounges around the world for $35 USD per visit. Aeroplan members will appreciate getting a NEXUS credit every four years, an annual round-trip companion pass, occasional free nights with Aeroplan points, and free checked bags on Air Canada flights.
What we don’t: As an American Express, you won’t be able to use your card at places like Costco and Loblaws. There’s also that high annual fee of $599 to consider.
6. Best rewards credit card for foreign travel
×1 Award winner GC: $60
1x Award winner Average return rate: 2.45%
Top spending categories: Scene+ grocery partners such as FreshCo, Safeway, Sobeys, etc.
Rewards:
- 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
What we love: Currency exchange rate fees usually take the fun out of souvenir shopping, but with the Scotiabank Gold American Express Card, you can save the standard 2.5% fee. It’s one of the few credit cards in Canada without foreign exchange fees and one of the few Amexes to collect Scene+ points. Members can trade 1,000 Scene+ points for a $10 discount on groceries, movies, or travel, yielding 1 CPP.
The card also includes a solid insurance package (which includes the elusive mobile device coverage) and 24/7 complimentary concierge service. With these thoughtful perks, you won’t want to travel abroad without your Scotiabank Gold card.
What we don’t: As an American Express card, you’ll have less universal acceptance compared to Visa and Mastercard alternatives.
7. Best low fee rewards credit card
×1 Award winner GC: $100
1x Award winner Average return rate: 2.36%
Top spending categories: Travel
Rewards:
- 1.25 points per $1 spent on travel
- 1 point per $1 spent on all other purchases
What we love: Redeeming your Avion Points on a flight yields a maximum value of 2.33 CPP. And as a Visa Infinite cardholder, you can sample some top-tier travel perks for a fraction of the price of a VIP card.
It has a decent variety of discount opportunities to help you maximize your credit card spending. For instance, you’ll earn bonus points at Rexall, a discount and increased points at Hertz, a free 12-month DoorDash subscription, a discount and additional points at Petro-Canada, and more.
What we don’t: The RBC Avion Visa Infinite leaves a lot to be desired in the rewards department – you’ll only earn one point per dollar spent on the vast majority of purchases.
Compare all of Canada’s best rewards credit cards
×8 Award winner Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
8x Award winner Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
GC: $125Awards are given out once a year but rating and rankings can shift throughout the year. The #1 card for 2025 is pinned to the top.
How we get our rankings
We picked the best rewards credit cards in Canada after considering over 126 features in seven main categories: rewards, fees, interest, insurance, perks, approval, and acceptance. Using unbiased math, the creditcardGenius algorithm calculated the average annual rewards of each card based on a typical monthly spend of $2,000, then scored each entry out of 5.
Learn more about our Genius Rating methodology
Pros and cons of rewards credit cards
A little over 50% of Canadians have at least one rewards credit card, and they aren’t going anywhere anytime soon. Here are the pros and cons of adding one of these to your own wallet:
- Accelerated earnings from major loyalty programs
- Multiple redemption options
- Can be more valuable than cash back
- Often come with exclusive perks
- Consistently high welcome bonuses
- Strict eligibility requirements
- Complicated redemption systems
- High annual fees
- Rewards may expire
How rewards credit cards work
Credit cards that earn cash back or points with every purchase are known as rewards credit cards.
- Cash back is simple: for every purchase you make, you’ll receive 1 – 3% of its value back in cash. Mastercard offers the largest variety of cash back credit cards in Canada in partnership with every major bank.
- Rewards points usually accumulate at a faster rate but wringing the maximum value from your points can be tricky. You need to pick a robust rewards program, identify its most valuable redemption options, and stick to them.
If a card’s most valuable redemptions are car rentals, hotels, or flights, it’s called a travel rewards card; if it has a wide variety of valuable redemption options, it’s a flexible rewards card.
Credit card rewards vs. credit card perks
It’s easy to throw these terms around, but they mean slightly different things.
Credit card rewards are the benefits that you earn, usually through spending. For example, you might have a credit card that gives you 2 points for every $1 you spend. These are rewards that you can cash in.
Credit card perks are, essentially, benefits included with the card. You can think of them as free, but if you’re paying an annual fee, they’re not truly complimentary. Perks include personalized discount offers, concierge services, and access to airport lounges.
Learn more: Cash back vs. travel rewards
How to earn credit card rewards
As you’ve probably noticed, rewards credit cards rarely collect cash back or points at a fixed flat rate. Instead, they earn a lot of rewards on purchases in a small number of spending categories (such as gas, groceries, or restaurants) and only a little on everything else.
Cards with spectacular earning rates in one spending category or another are often named gas credit cards, grocery credit cards, etc. They might also be named after the type of points they collect, such as AIR MILES credit cards, Scene+ credit cards, etc.
Your credit card’s payment network (i.e., Amex, Visa, or Mastercard) sorts every transaction into a single spending category based on the type of store you visited, not what you bought. For example, buying a candy bar at a gas station will probably count towards gas, not groceries.
Once a transaction is posted, your bank awards cash back or points at the rate matching its spending category. Neither you, your bank, nor your payment network can re-categorize a transaction before or after it’s been posted.
Don’t worry, it’s not as complicated as it sounds! To maximize your credit card rewards, you can:
- Check the "Rewards" section on your credit card statement to see how your favorite stores are categorized.
- Check out in the grocery section of a department store if you want your purchases to count as groceries, in the clothing section if you want them to count as clothes, etc.
- Shop at partner stores offering extra cash or points promotions.
- Subscribe to your rewards’ programs official newsletter to discover bonus cash back or point-earning opportunities.
- Use rewards shopping tools like the Aeroplan e-Store or RBC Rewards browser extension when it’s time to buy.
Some rewards programs also allow you to convert points from other programs or transfer points between members. If all else fails, try asking your friends or family really, really nicely to give you their unused points.
How to redeem credit card rewards
Most rewards credit cards maintain an official app or website where you can check your account balance and redeem points. The process can vary depending on the type of reward you choose:
- Cash back rewards are usually directly deposited into an account of your choice or paid out monthly to yearly as a voucher or statement credit.
- Cash back on demand can be redeemed on a purchase of your choice in the transaction history of your online credit card account.
- Charitable donations can be made through an online rewards catalogue or shopping portal.
- Financial products such as investment contributions or loan credits can sometimes be requested on the online page of the account you want to pay into.
- Gift cards, e-gift cards, and merchandise are often available through an online catalogue.
- Travel is usually purchased through a special online website like Expedia For TD. Many credit card rewards programs offer preferential pricing for using a travel partner or paying for the entirety of your booking in points.
Donations, travel, and financial products tend to offer more value than gift cards and merchandise. Dividing the cost of a reward in dollars by its cost in points and multiplying the result by 100 will show you the value of a reward in cents per point – or you can always check out our handy guides on maximizing your rewards points below!
Pro Tip: Rewards go on sale from time to time. Take advantage of a deal to squeeze even more value out of your points!
What’s the best credit card rewards program in Canada?
According to our research, the best (credit card) rewards program in Canada is American Express Membership Rewards. Converting Amex points to Aeroplan points and redeeming them on a flight yields an average value of 2 CPP, which only increases if you pounce on a flash sale or holiday promotion.
Amex Rewards are also incredibly flexible. And while other programs have more valuable points, they don’t hand them out with nearly as much generosity as an Amex credit card.
If you’re curious about how other programs stack up, take a look at this table:
| Rewards program | Best for | Avg. point value | Highlights |
|---|---|---|---|
| Aeroplan | Air travel | 2.00 CPP | * Air Canada perks and status * Earn points for Air Canada and Star Alliance partner flights |
| American Express Membership Rewards | Travel | 1.33 CPP | * Transfer points to travel and hotel partners * Earn high points on groceries, dining, and gas |
| Scene+ | Entertainment and dining | 1.0 CPP | * Earn points on movies, dining, and more * Redeem at Cineplex and Scene+ travel |
| MBNA Rewards | Travel and everyday spending | 1.0 CPP | * Flexible redemption options with high value * Travel and e-gift cards offer best redemption value |
| TD Rewards | Travel, groceries, and restaurants | 0.5 CPP | * Redeem points for travel through Expedia for TD * Points are transferable |
| PC Optimum | Grocery and pharmacy purchases | 0.1 CPP | * Earn points at Loblaw-affiliated stores * Use a branded card with a PC Optimum membership to double-dip on points |
Just remember, the "best" rewards program in Canada doesn’t matter as much as the best rewards program for you.
In Canada, American Express credit cards tend to have higher earning rates, Mastercards make the best cash back credit cards, and Visas offer the most luxurious perks.
How to choose the right rewards credit card for you
If you’re in the market for a new rewards credit card, prepare to ask yourself six important questions:
- What’s my budget? If you aren’t interested in frills, stick to a card with an annual fee of $150 or less – any more and you’re paying for perks, not points.
- What rewards do I want? First, consult your own tastes – do you like to travel? Dine out? Top up your savings? Next, research which rewards program offers those redemption options and gives them the most CPP.
- What are my biggest spending categories? Picking a credit card that rewards your existing spending habits is the key to maximizing returns.
- How many credit cards do I need? Make sure your present and future credit cards don’t have spending categories or rewards programs that overlap.
- Which card has the best welcome bonus? A large welcome bonus just might be the tie-breaker in a debate between two cards.
- What payment networks do my favorite stores use? You can’t collect any rewards if you can’t pay. While Visa and Mastercard are widely accepted in Canada, not every store takes Amex.
Next, you can move on to considering your credit score, insurance needs, and perk preferences. The creditcardGenius quiz simplifies everything into a neat and tidy questionnaire that takes only minutes to complete.
How to maximize your credit card rewards
If you want to get the most out of your rewards card, here are some tips:
- Align your card choice with your spending habits: Choose a card that has a high earn rate on categories that you spend the most money on – be it groceries, travel, or dining. This ensures that you’ll have a steady flow of points while you hold the card.
- Pair cards to max your category spending: For example, you could get one card with high grocery and gas rewards, another card with higher travel reward, which will net you more rewards points on the whole. Credit cards will sometimes offer category-specific rewards promotions, too, so keep an eye out for those to get the most out of your spending.
- Understand redemption options: Each rewards program is slightly different, and the optimal way to redeem your rewards will vary. Generally, though, travel rewards are some of the highest-value redemption options. If you aren’t big on travel, finding out the next best value proposition is crucial to milking the maximum value out of your points.
Max your rewards with the GeniusCash app
GeniusCash is a cash back rewards app that sends real cash straight to your bank account. Connect your cards and analyze your spending to unlock Max rewards and bonus cash back on your everyday purchases.
You’ll be able to explore personalized Max Actions to learn the best ways to use your credit cards to get even bigger returns – all tailored to your unique spending habits.
Plus, you’ll be the first to see new GeniusCash offers and exclusive deals so that you never miss a chance to grab one.
FAQ
Which bank has the best credit card rewards?
MBNA, a division of TD, offers a card with very valuable rewards: the MBNA Rewards World Elite Mastercard offers average returns of 2.86%. This is slightly behind the American Express Cobalt Card, but Amex isn’t a bank.
How do I maximize my credit card rewards in Canada?
To get the most value out of your card, pick a credit card that rewards the categories that make up the bulk of your spending, take advantage of promotional offers, and redeem your points only when rewards go on sale.
Which credit card is best to accumulate points?
The American Express Cobalt Card collects up to 5 points per $1 spent in a variety of spending categories. It also offers many ways to spend your points – the highest value being travel-related rewards, like transferring points to Aeroplan.
Is it better to get cash back rewards or points?
Cash back credit cards are best for moderate spenders who don’t travel frequently or don’t want to pay an annual fee. Points generally yield the most value when you redeem them on flights, hotels, and car rentals.
What are rewards credit cards?
Rewards credit cards offer incentives to cardholders for their spending habits. These cards can earn anything from cash back, points, miles, or other types of rewards that you can redeem for things like travel, shopping, and so on.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 229 Canadian credit cards.
