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Which credit cards in Canada are a cut above the rest?

To answer that question, we start by poring over every detail of more than Canadian credit cards, tracking and comparing over 126 different features for each one.

We then enter those details into our math-based comparison engine, which gives each card a rating out of 5 – our Genius Rating.

Using this rating as our guide, we determine the winning credit cards across 24 different categories. But only you can choose which credit card fits your wallet best.

And the 24 best credit card winners are…

Ranging from 1.99% interest, to 2% cash back, all the way to 3.76% average rewards return on spending, here’s an overview of the well-deserved winners.

Best Credit Card Categories Best Credit Cards in Canada Rewards & Savings Learn More
Best Cash Back Scotia Momentum Visa Infinite 2.08% avg. earn rate Learn More
Best No Annual Fee MBNA Rewards Platinum Plus® Mastercard® 1.35% avg. earn rate Learn More
Best Flexible Scotiabank Gold American Express® Card 2.30% avg. earn rate Learn More
Best Travel American Express Cobalt Card 3.76% avg. earn rate Learn More
Best Balance Transfer BMO® CashBack® Mastercard®* 1.99% promo rate (9 months) Learn More
Best Foreign Exchange Travel Brim World Elite Mastercard 2.25% avg. earn rate Learn More
Best AIR MILES BMO® AIR MILES®† World Elite®* Mastercard®* 2.12% avg. earn rate Learn More
Best Low Interest HSBC +Rewards Mastercard® 11.9% interest rate Learn More
Best Grocery American Express Cobalt Card 8.75% typical return on groceries Learn More
Best Restaurant American Express Cobalt Card 8.75% typical return on restaurants Learn More
Best Gas American Express® Gold Rewards Card 5% typical return on gas Learn More
Best Insurance Brim World Elite Mastercard 2.25% avg. earn rate Learn More
Best Student BMO® CashBack® Mastercard®* for students 1.07% avg. earn rate Learn More
Best Business American Express Business Edge 2.53% avg. earn rate Learn More
Best U.S. Dollar RBC U.S. Dollar Visa Gold 1.13% avg. earn rate Learn More
Best Store BMO® AIR MILES®† World Elite®* Mastercard®* 2.12% avg. earn rate Learn More
Best Perks American Express Platinum Card® 3% avg. earn rate Learn More
Best Rewards American Express Cobalt Card 3.76% avg. earn rate Learn More
Best Aeroplan American Express® Gold Rewards Card 3.44% avg. earn rate Learn More
People’s Choice Scotiabank SCENE Visa 1.26% avg. earn rate Learn More
Best Mastercard BMO® AIR MILES®† World Elite®* Mastercard®* 2.12% avg. earn rate Learn More
Best Visa TD® Aeroplan® Visa Infinite* Card 2.97% avg. earn rate Learn More
Best American Express American Express Cobalt Card 3.76% avg. earn rate Learn More
Best Overall American Express Cobalt Card 3.76% avg. earn rate Learn More

Please note the average earn rate is based on reasonably optimized spending and reward redemptions – we assume you won’t choose the toaster when flights are worth 4x as much!

We also use a default of $2,000 per month in spending split sensibly across spending categories, like gas and groceries. For more personalized results, enter your own spending habits into our compare credit cards spending calculator in the sidebar.

Let’s get into each category one by one and review the winners…

1. Best cash back credit card

Best cash back credit cards in Canada for 2020 award sealThe Scotiabank Momentum Visa Infinite gives you 4% back on recurring bills and grocery purchases, 2% back on gas and daily transit, plus 1% cash back on all other purchases ‒ for a $120 annual fee. On top of that, this Visa Infinite card will give you concierge service, Visa Infinite perks, plus 11 different types of insurance included at no extra cost.

And as an added bonus the first year is free, so you can take this card out for a test drive.

Other benefits:

  • 11 types of travel and purchase insurance.
  • 10% cash back for the first 3 months, up to $200 cash back earned.
  • Visa Infinite benefits.

See More Best Cash Back Credit Cards

2. Best no annual fee credit card

Best no annual fee credit card in Canada for 2020 award seal

If you want rewards with no fees, the MBNA Rewards Platinum Plus® Mastercard® not only has no annual fee, but offers a high earn rate for your spending as well. You’ll earn up to 2 points per $1 spent on your purchases. When redeemed for travel through MBNA Rewards, that’s a return of up to 2% on your spending. Throw in 7 types of travel and protection insurance and a great welcome bonus, and it’s no surprise this is our #1 no annual fee card.

Other benefits:

  • 7 types of insurance included, including rare rental car personal effects and accident insurance.
  • Welcome bonus of up to 10,000 points.
  • Double points on gas, groceries, and restaurants for the first 3 months (calculated as part of the welcome bonus below).

See More Best No Annual Fee Credit Cards

3. Best flexible credit card

Best flexible credit cards in Canada for 2020 award sealIf you don’t want to be tied down to one store or one type of reward redemption, flexible rewards credit cards fit the bill nicely. You get to be in charge and choose what you want to use your rewards on: travel, merchandise, cash back, investments, donations, and much more. At minimum, you won’t be boxed in with blackout dates and limited choice of airlines when redeeming for flights. The best card in Canada right now to give you that flexibility combined with high reward value is the Scotiabank Gold American Express® Card. These rewards can be used for virtually anything. For best value, redeem for any travel purchase from Scotia Rewards and use your points to help pay for your trip. It’s that simple.

Other benefits:

  • 8 ways to redeem points, with a value of up to 1 cent each.
  • 25,000 bonus points after spending $1,000 in the first 3 months.
  • American Express perks like Front Of The Line and Amex Offers.
  • No foreign exchange fees.

See More Best Flexible Credit Cards

4. Best credit card for travel

Best travel credit cards in Canada for 2020 award sealTravel credit cards are some of the best credit cards you can get. The best of the best will offer its cardholders premium perks, big sign-up bonuses, and rewards that’ll often get you the biggest bang for your buck. This #1 travel credit card is no exception. The American Express Cobalt Card gives cardholders a solid mix of flexible rewards, a generous welcome bonus, good insurance, and fun perks that all point to this card as the best travel credit card in Canada (as well as our best card overall). Plus, if you use your points with the Amex Fixed Points Travel Program, you’ll get a solid 3.76% return on your spending on North American flights, making this card a top choice for travel lovers.

Other benefits:

  • 9 ways to redeem points, with a value of up to 1.75 cents each.
  • 9 types of travel and purchase insurance.
  • American Express perks like Front Of The Line and Amex Offers.

See More Best Travel Credit Cards

5. Best credit card for balance transfers

Best balance transfer credit cards in Canada for 2020 award sealWe know it can be easy to fall behind on payments and end up with credit card debt we had no intention of racking up. If this is the case for you, a balance transfer credit card could be just what you need to help dig yourself out. Balance transfer credit cards allow you to take debt from one card and move it to another. Depending on what card you choose, you could end up with 6 to 9 months of low interest on those transfers. The top balance transfer card in Canada right now is the BMO CashBack Mastercard. It will give you 9 months of relief from high interest charges with 1.99% balance transfer interest – that’s nearly a whole year of interest savings to try and get your credit card debt sorted out. (Not sure how balance transfers work? Read this blog post.)

Other benefits:

  • Earn 5% cash back for the first 3 months.
  • Earn up to 3% cash back on all purchases.

See More Best Balance Transfer Credit Cards

6. Best foreign exchange travel credit card

Best foreign exchange credit cards in Canada for 2020 award seal
No one wants to pay fees when they don’t need to, so credit cards with no foreign transaction fees are highly sought after. The bad news? These cards are few and far between. Our #1 no foreign exchange fee travel card is the Brim World Elite Mastercard. With this card in your wallet, you’ll skip that dreaded 2.5% fee and get an average of 2.25% return on spending, and 15 types of insurance coverages.

Other benefits:

  • Redeem your cash back when you have as little as $1 earned.
  • Earn bonus rewards when shopping with Brim’s 150+ retail partners.
  • Includes rare mobile device and event ticket coverage.

See More Best Foreign Exchange Credit Cards

7. Best AIR MILES credit card

Best AIR MILES credit cards in Canada for 2020 award sealThe BMO® AIR MILES®† World Elite®* Mastercard®* is the best AIR MILES credit card on the Canadian market right now – and for good reason. For starters, you get a sign-up bonus that’s enough for 1 short-haul flight. Then, for every purchase made, you get 1 mile for every $10 spent. And if that wasn’t enough, concierge service, lounge access, and a 15% discount on AIR MILES flights in North America are also included. Plus, this card will give you 14 out of types of insurance – among the most of any credit card on the market. You can even try this card out for free for a year to make sure you like it before committing long term.

Other benefits:

See More Best AIR MILES Credit Cards

8. Best low interest credit card

Best low interest credit cards in Canada for 2020 award sealWe always suggest that cardholders pay their credit card off in full every month, but we also realize that sometimes life can get in the way and it’s easier said than done. If you find yourself forgetting to pay your card off in full and you end up with interest charges, that 20% can be pretty frustrating. If you’re looking for a lower rate, the
HSBC +Rewards Mastercard® offers a permanent low rate of 11.9% on purchases, cash advances, and balance transfers.

Other benefits:

  • Earn up to 2 HSBC Reward points per $1 spent.
  • Welcome bonus of 20,000 bonus points after spending $2,000 in the first 6 months.
  • Rare price protection insurance included.

See More Best Low Interest Credit Cards

9. Best credit card for groceries

Best grocery credit cards in Canada for 2020 award sealEating is a basic part of life – whether it be buying groceries or dining out. So why not get plenty of rewards for this basic need with a credit card that offers great rewards on food purchases? We give the crown to the , earning you 5 points for every $1 you spend on groceries and food. And because we value each point at 1.75 cents, that gives you an incredible 8.75% return, one of the best you’ll find for any spending on any card.

Best Visa card for groceries

Prefer to use a Visa instead? Then the is at the top of our list. You’ll earn 4% cash back on all your grocery purchases, as well as recurring bill payments, 2% cash back on gas and transit, while earning 1% cash back on all other purchases.

Best Mastercard for groceries

Our best Mastercard for groceries is the . This card will offer you 2% cash back on all your groceries, which include Walmart Supercentres (something Visa and Amex cards don’t offer). And it’s all for no annual fee.

See More Best Grocery Cards

10. Best credit card for restaurants

Best restaurant credit cards in Canada for 2020 award sealFind yourself eating out all the time? For the most rewards you can get on your restaurant purchases, you can’t top the . You’ll earn 5 points per $1 spent on all your restaurant and grocery purchases. With a point valued at up to 1.75 cents each, that’s a return of 8.75% on your restaurant purchases, something no other card can match.

See More Best Restaurant Cards

11. Best credit card for gas

Best gas credit cards in Canada for 2020 award sealSpend a lot of money on gas? If you own a vehicle (unless you drive an electric car) you’ll be spending a good chunk of money on gas for the foreseeable future. Fortunately, there are plenty of cards that give you extra rewards for your fuel purchases. And the best one is the American Express® Gold Rewards Card. While it only earns 2 points for every $1 you spend, transfer your points to Aeroplan where you can get a value of 2.5 cents for each one. This translates to a 5% return, the absolute best you can find for your gas purchases.

Other benefits:

  • 10 ways to redeem points, with a value of up to 2.5 cents each.
  • Transfer points to 6 airlines, including Aeroplan at a 1:1 ratio.
  • 10 types of travel and purchase insurance.

See More Best Gas Credit Cards

12. Best credit card for insurance

Best travel insurance credit cards in Canada for 2020 award sealInsurance is one of those things that people may not realize their credit card even comes with, but can be extremely valuable. Depending on your card’s insurance coverage, you could gain extended warranty on all your purchases, mobile device protection, emergency medical, and even help if your flight or baggage gets delayed. In fact, credit cards can give you up to 17 types of travel and purchase insurance, and the card that comes with the best insurance coverage is the . You’ll not only get the most types of insurance coverages at 15 out of types, but get some good coverage amounts as well.

See More Best Insurance Credit Cards

13. Best student credit card

Best student credit cards in Canada for 2020 award sealIf you’re a student, responsible use of credit cards can give you a good start on building your credit history and teaching yourself good spending habits. Sure, getting your first credit card can be stressful, maybe scary. The key is to spend within your means and pay off your balance in full and on time. The other thing is to research and compare your options. With no annual fee, cash back on every purchase, and multiple redemption options, the BMO® CashBack® Mastercard®* for students is at the top of our list.

Other benefits:

  • Redeem your rewards whenever you like.
  • Extended warranty and purchase protection.

See More Best Student Credit Cards

14. Best business credit card

Best business credit cards in Canada for 2020 award seal
If you’re running a small business, every $1 matters. So you know getting the best credit card can go a long way. The top spot for this category goes to the American Express Business Edge. Why this card? It offers premium, high value rewards. Earn up to 3 points per $1 spent on gas, rides, electronics, office supplies, and eats, and 1 point per $1 on all other purchases. With an Amex Membership Rewards point worth up to 1.75 cents each, you’re looking at a great return for your business purchases.

Other benefits:

  • 9 ways to redeem your points.
  • Ability to transfer your points to Marriott Bonvoy or Hilton Honors.
  • Welcome bonus of up to 42,000 points (only 30,000 of which are shown below because you need to spend $3,000 a month to qualify for the remaining 12,000 and we only assume $2,000 in monthly spending).

See More Best Business Cards

15. Best U.S. dollar credit card

Best U.S. dollar credit card in Canada for 2020 award sealIf you travel to the United States a lot (whether for work or play) and you have a U.S. dollar bank account or income, a U.S. dollar credit card could make sense. U.S. dollar credit cards are based in U.S. funds, and because of this, cardholders are not charged foreign currency transaction fees. This also means, however, bill payments will need to be made in U.S. funds. The RBC U.S. Dollar Visa Gold is one of the few Canadian-issued U.S. dollar credit cards that allows cardholders to earn rewards – and who doesn’t want to earn rewards on their purchases?

See More Best U.S. Dollar Credit Cards

16. Best store credit card

Best store credit cards in Canada for 2020 award sealStore credit cards are tricky, because you’re often tied to one store when it comes to redeeming your rewards. But AIR MILES credit cards count as store credit cards as well. And as such, the is our top store credit card. You’ll earn 1 AIR MILE for every $10 spent, and be able to redeem your miles for a wide variety of items, not just for travel.

See More Best Store Credit Cards

17. Best credit card for perks

Best perks credit cards in Canada for 2020 award sealCredit cards are not just about rewards – that’s just the tip of the iceberg. Many come with some drool-worthy perks. The top card in this category by a mile is the American Express Platinum Card®, which gives you unlimited lounge access for you and a guest, a dedicated concierge line, a $200 annual travel credit, VIP treatment at the Toronto Pearson airport, incredible perks at hundreds of hotels, complimentary high-tier status, and much more.


See More Best Perks Credit Cards

Bonus read: Learn about all 17 credit card perks here.

17 credit card perks explained

18. Best rewards credit card

Best rewards credit cards in Canada for 2020 award sealIf cash back or travel rewards are all the same to you, you don’t care so much about annual fees, and what you’re really looking for is a whole lot of rewards – then this award category is for you. If you’re looking for the card that will give you the biggest return on your spending, the is the one.

See More Best Rewards Credit Cards

Looking to max your rewards? Compare 20+ Canadian rewards programs side-by-side.

Over 20 Canadian rewards programs compared

19. Best Aeroplan credit card

Best Aeroplan credit cards in Canada for 2020 award sealYou may be surprised by the #1 card in this category…especially since it doesn’t actually reward cardholders with Aeroplan miles directly. And yet, the best Aeroplan card in Canada right now is the . Not only can you transfer your points 1:1 to Aeroplan miles, but you also get a huge sign-up bonus, flexible rewards that can be used for a number of different things, plus it’s parcelled with a comprehensive insurance package.

See More Best Aeroplan Credit Cards

20. People’s choice credit card

People's choice credit card in Canada for 2020 award sealA company can make lots of claims about their portfolio of cards, their customer service, and the ease of use of their rewards – but where the rubber meets the road is when a customer receives their card and gets to try it out. You find out what a card is really like when you get to hear what real people have to say. You voted with your credit card reviews and we listened. The Scotiabank SCENE Visa claimed the victory, with the average user giving it a 4.4 out of 5 stars.

Read more about People’s Choice and why your review matters.

21. Best Mastercard

Best Mastercard credit cards in Canada for 2020 award sealLooking for the absolute best Mastercard on the market right now? The offers great rewards, perks, and insurance. Earn 1 AIR MILE for every $10 you spend and get a sign-up bonus of 2,000 miles. Then, anytime you redeem your miles for flights within North America, get a 15% reduction in the number of miles required to book your flight. Plus, with 14 types of insurance coverages, this card offers a lot for your travels.

See More Best Mastercards

22. Best Visa

Best Visa credit cards in Canada for 2020 award sealPrefer having a Visa in your wallet? The TD® Aeroplan® Visa Infinite* Card is our top Aeroplan-branded card. It starts you out with a welcome bonus worth up to 25,000 miles, enough for a short-haul flight in North America. Plus, you’ll earn up to 1.5 miles per $1 spent on your eligible purchases, and get great benefits on reward flights operated by Air Canada. And the comprehensive insurance package provided with the card will even cover you on your reward flights as well. It’s all for an annual fee of $120, which is rebated for the first year.

Other benefits:

  • 7 ways to redeem your miles, with a value of up to 2.5 cents each.
  • 11 types of travel and purchase insurance.
  • Visa Infinite benefits.
  • 1st checked bag free, plus priority check in and boarding on Aeroplan rewards flights operated by Air Canada.

See More Best Visa Cards

23. Best American Express

Best American Express credit cards in Canada for 2020 award sealAmerican Express cards tend to offer the highest rewards and the best perks. Not to mention all their cards have no minimum income requirements. Our top pick goes to the . No surprise here since it’s also our best overall card. You can earn the most rewards – up to 5 points per $1 spent, and get a great welcome bonus worth up to 30,000 points. The best part about getting all these points is you can use them in a variety of ways – the Fixed Points Travel Program, redeem for any travel, get cash statements, or transfer your points to Marriott Bonvoy points. Plus, it comes with 9 types of insurance coverage to protect you while travelling.

See More Best American Express Cards

24. Best overall credit card

Best overall credit card in Canada for 2020 award sealCurious what the best credit card in Canada is? We were too, so we took every aspect into consideration – all 126+ features, all cards. And for the 3rd year in a row, comes out on top. Considering this card is the #1 card in 5 other categories, this award is just the cherry on top. The Cobalt card has no minimum income requirement, an impressive welcome bonus, some of the highest earn rates in Canada (5x on food at grocery stores and restaurants), plus exclusive Cobalt Perks and all the other perks that come along with being an American Express cardholder.

See More Best Overall Credit Cards

There you have it…

The best credit cards in Canada for 2020 in 24 categories.

If you’re looking for a new credit card, this is the place to start. (Find out why here.)

But it doesn’t stop here. Our compare cards page will go over all the best credit cards based on parameters you enter in and give you our genius rating out of 5 for each one.

Choosing the right credit card for you

So with all these great options available, how do you choose the right credit card for you? There’s a lot of factors that go into choosing the proper credit card.

Savings vs. rewards

First, do you have existing credit card debt, or do you typically carry a balance? You’ll want a credit card that offers low interest rates or has a great balance transfer promotion. The savings you’ll see on interest far outweigh any credit card rewards you might be forfeiting.

If this isn’t you, then you can decide on what type of rewards you want to earn. If you travel at least every other year, you’ll see the most valuable rewards with a travel card. Plus, travel cards have the best travel insurance coverages in case things happen and your plans change.

If you don’t travel, like to keep things simple, and don’t want to get into complicated rewards programs, a cash back card is best – money you can use for whatever you like (even travel).

No fee vs. premium cards

You’ll also need to decide on whether or not to pay an annual fee. Our rule of thumb is you need to spend $1,200 per month on your card to offset the payment of an annual fee.

And if your monthly spend is less than $1.2K? Probably best to stick with a no fee card.

Our listing here of the best credit cards is a good starting place. But there are more tools on our site at your disposal. Use the compare cards page to get a broader look at other cards that are suited for you.

And if you want more options? All of our best card pages have lots of other cards to consider as well.

How do credit cards work?

For the average consumer, credit cards are quite simple. You use them to pay for purchases, and once per month, you’ll get a bill detailing all your purchases, and how much you have to pay back. And for many credit cards, you’ll also earn some rewards you’ll be able to use.

How credit card companies make money

It’s all thanks to interchange fees. The credit card companies charge the merchant a percentage of the total transaction amount to cover their costs, part of which goes into giving out rewards.

Of course, there are other ways the credit card companies also make money:

  • high interest rates on unpaid balances (typically around 20%),
  • annual fees, and
  • other miscellaneous fees, such as cash advance and balance transfer fees.

All of these fees combine to allow credit card companies to offer rewards, perks, and insurance coverages.

Standard credit card features

There’s a long list of credit card features we’ve come to expect (and forget sometimes). Here’s a few:

  • Zero liability guarantee which means no money leaves your bank account when fraud happens.
  • Convenient cashless transaction.
  • Security protection through chip and pin and fraud algorithms.
  • Pending transactions that allow you to reserve hotels, car rentals, and other services.
  • Convenient mobile payment option.
  • Free access to Boingo wi-fi for Mastercard cardholders.
  • Statements with convenient transaction history.

3 types of rewards credit cards

When it comes to earning rewards, there are 3 general types of credit cards.

1. Cash back

The simplest rewards cards are cash back credit cards. For every purchase you make, you’ll get a percentage back in the form of cash back. For most credit cards this cash back gets applied as a statement credit once per year. Some do offer the ability to redeem your cash back when you like, once you’ve reached a certain amount of cash back earned.

2. Travel

Then there are travel credit cards. And while many travel credit cards can also be flexible rewards cards, pure travel cards have one major difference – the flexibility (or lack thereof). You have to book travel from a specific provider or airline, with no predetermined value. With travel cards, there’s also no cash redemption option, the other big difference between these cards. You won’t have the flexibility just to get some cash for your points.

3. Flexible rewards (or multi-purpose rewards you can use all-around)

Finally, there are flexible rewards credit cards. With these credit cards, you can redeem points for any travel booking you like (which in most cases has to be made through the reward program’s booking site). There’s always options to redeem your points for gift cards, merchandise, and they usually have cash redemption options as well. Cash redemption usually comes in the form of statement credits, but some allow you to turn your points into investments and other banking products as well.

Related: The Truth About Cash Back Vs. Travel Rewards

4 types of credit card interest rates

Looking to save on credit card interest? There are 4 types of interest rates that credit cards may feature.

1. Purchase interest rate

The primary rate is the purchase interest rate. Once your grace period ends on your new purchases (which is typically 21 days after you receive your statement), the purchase interest rate comes into effect and gets added on to your monthly bill. However, it gets calculated from the date purchases are made, not when your grace period ended.

2. Cash advance interest rate

Cash advance rates get applied when you take out cash at an ATM using your credit card. These interest rates kick in right away as soon as you make your cash advance – there’s no grace period with cash advances. Most credit cards charge a fee for the cash advance, on top of what the ATM provider may charge as well.

3. Balance transfer interest rate

Balance transfer rates take effect when you transfer the balance from one credit card to another. This rate also starts accruing right away, and for most credit cards there’s also a fee you have to pay to complete the balance transfer. In many cases, you can also have an option to get money transferred directly to your bank account.

4. Promotional balance transfer interest rate

The last rate we track is the balance transfer promotion rate. Some credit cards offer an introductory rate on balance transfers for a set number of months after the account has been opened. These rates are incredibly helpful if you have an existing balance on a credit card.

Ranking methodology: How we determine Canada’s best credit cards

How do we decide what the best cards are? We take into account over 126 features of each credit card which includes 3 types of rewards, 4 types of fees and interest rates, 17 types of insurance coverage, and 98 other major perks and benefits.

These are broken down into 8 main categories for scoring:

  • Rewards,
  • Low Fees,
  • Low Interest,
  • Perks,
  • Insurance,
  • Approval,
  • Acceptance, and
  • User Reviews.

We then take those features and put them through our algorithm, which calculates a score out of 5.

That being said, each award has a set of preferences, which gives extra weight to select categories. For example, for the best travel credit card, we give extra weight to rewards, specifically travel rewards. In other cases, like determining the best credit card, our default weighting is used so take everything equally into consideration.

Learn more about our rating methodology here.

Your turn?

Do you have a go-to credit card for 2020 that didn’t make our list? Let us know in the comments below.

Or if you’re looking for more personalized recommendations…

Take our 3-minute quiz and we’ll find the credit cards best suited for your wallet based on your preferences.

BONUS Alert: Find your best card, refer your friends, and get $5 for each successful referral. If we don’t find your top card? We’ll give you $5.

FAQ

How do you rank the best credit card in Canada?

We rank the best credit cards in Canada using our rating methodology. We analyze over 126 data points on every credit card, then put all these features through our algorithm, which then assigns a score out of 5 (our Genius Rating).

What is the best rewards credit card in Canada?

The best rewards credit card in Canada right now is Amex Cobalt. You’ll earn up to 5 points per $1 spent on your purchases, which is also coupled with a high point value of up to 1.75 cents each.

What is the best Visa card in Canada?

Our top rated Visa credit card is the TD Aeroplan Visa Infinite. With this card, you can earn up to 1.5 miles per $1 spent, get access to great Air Canada benefits on reward flights, and get the first year fee rebated.

What is the best Mastercard in Canada?

The best Mastercard in Canada is the BMO AIR MILES World Elite Mastercard. You’ll earn 1 mile for every $10 spent, get 14 types of insurance coverage, and a 15% discount of the number of miles needed to redeem for a rewards flight within North America.

What is the best credit card for cash back?

To earn the most cash back, the Scotiabank Momentum Visa Infinite has high earn rates on a variety of essentials. You’ll earn 4% cash back on groceries and recurring bills, 2% cash back on gas and transit, and 1% cash back on everything else.

What is the best credit card for points?

To earn the most reward points possible, the Scotiabank Gold American Express offers a high amount of flexible rewards points on every purchase. Earn 5 points per $1 spent on groceries, restaurants and entertainment purchases, 3 points per $1 spent on gas, transit and select streaming services, and 1 point per $1 spent on everything else.

What is the best credit card with no annual fee?

Our top credit with no annual fee is the MBNA Rewards Platinum Plus Mastercard. You’ll earn up to 2 points per $1 spent on your purchases, and get 7 types of insurance coverage.

What’s the best credit card for my wallet?

Want to find the best credit card for you? Take our creditcardGenius Challenge. Complete our 3-minute questionnaire, and we’ll find the best credit card for you. If you’re not convinced, we’ll give you $5. If you like our suggestion, you’ll be able to refer friends, where you’ll earn $5 for each successful referral, up to $25 earned.