Do you feel like no single credit card perfectly suits your lifestyle? With Canada’s ever-growing suite of credit cards boasting an array of bonuses and benefits, maximizing value with one card alone is impossible. The dilemma is finding the right combination that complements your daily spending.
Don’t worry because we’ve researched the most powerful credit card combinations. Our analysis helps you strategically combine two cards to leverage their strengths and sidestep limitations, helping you earn accelerated rewards, insurance, and perks that align with your spending. Continue reading to find out how to maximize cards.
| Best For | Card Combination | Combined Annual Fee (First Year) |
| Groceries | American Express Cobalt® Card + TD Cash Back Visa Infinite | $294.88 ($155.88) |
| Travel | American Express® Gold Rewards Card + Scotiabank Passport® Visa Infinite* Card | $400 |
| Students | Secured Neo Mastercard+ Simplii Financial™ Cash Back Visa Card | $60 ($5/month for the Neo card) |
| No Annual Fee | Tangerine World Mastercard + BMO CashBack® Mastercard® | $0 |
| Everyday Spending | Scotia Momentum® Visa Infinite Card + Scotiabank Gold American Express® Card | $240 ($120) |
Best Credit Card Combination In Canada For Groceries
The American Express Cobalt and TD Cash Back Visa Infinite are great for maximizing grocery rewards. The Amex Cobalt earns strong rewards on groceries but isn’t accepted in Costco or Loblaws. As such, you can switch to the TD card when necessary. The flexible cash back structure on the TD Cash Back Visa makes it easy to redeem rewards whenever desired.
Using the TD Cash Back Visa at Costco is more nuanced, as they only accept Mastercard in-store. Instead, you can use the Visa card to purchase Costco gift cards online and use them in-store as a workaround. However, you can use the TD card more easily at Loblaws stores.
Both cards offer lucrative welcome bonuses. We recommend initially balancing card spending to earn both welcome bonuses and maximize rewards. Afterward, you can prioritize the Cobalt for ongoing rewards. This strategy leverages the initial high welcome bonuses, followed by the sustained benefits of Amex Cobalt, optimizing grocery spending rewards. You’ll also have a great fallback whenever Amex isn’t accepted.
American Express Cobalt® Card
- Annual Fee: $155.88 ($12.99 monthly)
- Purchase Rate: 21.99%
- Cash Advance Rate: 21.99%
- Earn Rate (Maximum Value):
- 5x points (10%) on eats, and drinks
- 3x points (6%) on streaming
- 2x points (4%) on travel, and transit
- 1x point (2%) on everything else
- Perks: strong welcome bonus, Amex offers, Travel Insurance, Mobile Device Insurance
TD Cash Back Visa Infinite
- Annual Fee: $139 ($0 first year)
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Earn Rate:
- 3% groceries, gas, and bills
- 1% on everything else
- Perks: Enhanced cashback welcome bonus, extended warranties, Deluxe TD Auto Club Membership, strong insurance, including travel medical
Best Credit Card Combination In Canada For Travel
The American Express Gold card offers substantial rewards on dining and travel purchases, making it ideal as your primary card. However, it lacks airport lounge access and charges foreign transaction fees, where the Scotiabank Passport Visa fills gaps.
Aim to use the Amex Gold card for most travel and dining expenses to maximize earning points. This will also let you use the $100 travel credit offered by the Gold card. Meanwhile, put all foreign purchases on the Scotiabank Passport Visa to avoid foreign transaction fees. Bring both cards when travelling to take advantage of excellent insurance coverage and peace of mind from each. The Scotiabank card also provides industry-leading lounge access through Visa Airport Companion.
This optimized strategy uses each card’s strengths. The Amex Gold offers high rewards rates, and the Scotiabank Passport Visa fills in gaps with no foreign transaction fees and lounge access. Together, they are a powerful combination for the frequent traveller.
American Express® Gold Rewards Card
- Annual Fee: $250 (net $150 with $100 travel credit)
- Purchase Rate: 21.99%
- Cash Advance Rate: 21.99%
- Card Earn Rate (Maximum Value):
- 2x points (4%) on travel, gas, grocery, and drug store
- 1x point (2%) on everything else
- Perks: Strong welcome bonus, $100 annual travel credit, comprehensive travel insurance
Scotiabank Passport® Visa Infinite Card
- Annual Fee: $150
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Card Earn Rate (Maximum Value):
- 3x points (3%) on select groceries,
- 2x points (2%) on dining, entertainment, and transit
- 1x point (1%) on everything else
- Perks: Strong welcome bonus, no foreign transaction fees, airport lounge access, widespread Visa acceptance
Best Credit Card Combination In Canada For Students
The Secured Neo Mastercard and Simplii Financial Visa make a great starter card combination for students to build credit and earn cash back rewards. The Secured Neo Mastercard provides an easy entry point for students new to credit, while the Simplii Financial Visa offers higher cash back on common student expenses like dining.
To maximize the combination, use the Secured Neo Mastercard at retail partners to get extra cash back. You can also upgrade to the Premium Neo Card for boosted rewards. Otherwise, use the Simplii Visa for dining, gas, pre-authorized payments, and elsewhere.
This simplifies credit building for students while maximizing cash back rewards on frequent purchases like food and gas — a winning combination without fees for students new to credit cards.
Neo Secured Credit Card
- Monthly Fee: $5 ($9.99 for premium)
- Purchase Rate: 19.99% – 29.99% (QC: 19.99% – 24.99%)
- Cash Advance Rate: 22.99% – 31.99% (QC: 22.99% – 25.99%)
- Card Earn Rate:
- Earn up to 4% cash back on gas and groceries¹
- Earn up to 1% cash back on everything else¹
- Perks: Guaranteed approval
Simplii Financial™ Cash Back Visa Card
- Annual Fee: $0
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Card Earn Rate:
- 4% cash back on restaurants, bars, and coffee shops
- 1.5% on groceries, gas, drugstore,
- 0.5% on everything else
- Perks: Moderate welcome bonus, enhanced cash back in first four months
Best Credit Card Combination In Canada For No Annual Fee
Combine the Tangerine World Mastercard and BMO CashBack Mastercard to maximize benefits without annual fees. This optimizes grocery spending and travel benefits.
Seek to use the BMO CashBack Mastercard for 3% on groceries. However, after $500 in monthly spending, the earn rate drops to 0.5%. You can then use the Tangerine World Mastercard as a secondary option to earn 2% on groceries. Furthermore, you can select up to two more categories to optimize cash back rewards between the cards.
Furthermore, both cards provide travel benefits. You can use the BMO card for car rental discounts, while the Tangerine World offers paid lounge access and car rental insurance. This pairing is ideal for those who want to maximize their rewards without worrying about annual fees. The two cards offer a great mix of cash back and travel benefits.
Tangerine World Mastercard
- Annual Fee: $0
- Purchase Rate: 19.95%
- Cash Advance Rate: 19.95%
- Card Earn Rate:
- 2% on up to 3 chosen categories,
- 0.5% on everything else
- Perks: Up to three changeable categories, paid airport lounge access, Boingo WiFi, Mastercard Travel Rewards, balance transfer promotion, rental car and mobile device insurance, enhanced cashback in first two months
BMO CashBack® Mastercard®
- Annual Fee: $0
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Card Earn Rate:
- 3% on groceries
- 1% on recurring bills
- 0.5% on everything else
- Perks: Enhanced cash back in first three months, balance transfer promotion, easy redemptions
Best Credit Card Combination In Canada For Everyday Spending
This combo takes advantage of Visa’s wider acceptance while also benefiting from American Express’ higher earn rates. Prioritize spending on the Amex, supplementing it with the Momentum when it’s not accepted. Groceries are especially lucrative with this combination, earning 4% to 6% between cards.
The Momentum Visa shines with car rental discounts. Although the Amex card touts no foreign exchange fees, the network isn’t commonly accepted abroad. As such, the Visa card provides a backup option.
Both cards also offer a lucrative welcome bonus. Attempt to balance spending on both cards to achieve them, but don’t overextend yourself. With widespread Visa acceptance and Amex’s high earning potential, it’s a dynamic duo for everyday spending.
Scotia Momentum® Visa Infinite* Card
- Annual Fee: $120 (waived in the first year)
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Card Earn Rate:
- 4% cash back for groceries, subscriptions, and bills
- 2% on gas and daily transit
- 1% on everything else
- Perks: Enhanced cash back in first three months, strong insurance coverage, rental car discounts
Scotiabank Gold American Express® Card
- Annual Fee: $120
- Purchase Rate: 20.99%
- Cash Advance Rate: 22.99%
- Card Earn Rate (Maximum Value):
- 6x points (6%) on select groceries
- 5x points (5%) on dining, entertainment, and delivery
- 3x points (3%) on transit and streaming services
- 1x point (1%) on everything else
- Perks: No foreign exchange fees, strong insurance coverage, Amex Offers, lucrative welcome bonus
Pros & Cons Of Having Multiple Credit Cards
Having multiple credit cards can be beneficial, but it has some potential downsides. The key is to be strategic and thoughtful about which credit cards you choose and how you manage them.
The pros often outweigh the cons if you use credit cards responsibly. Consider your financial situation and spending habits to determine if multiple cards are right for you.
| Pros | Cons |
| Maximize rewards & cash back by using different cards for different spending categories | There is a higher risk of missed payments or going into debt |
| Separate expenses (e.g. keep work & personal spending separate) | Additional cards mean more potential fraud/security issues |
| Take advantage of multiple welcome bonuses and promotional offers | Difficult to keep track of spending, statements, due dates |
| Build credit history and potentially improve credit score | Too many credit card inquiries can impact credit score |
| Backup card in case one gets lost, stolen, or declined | Annual fees can add up quickly |
| Temptation to over-extend yourself by trying to achieve multiple welcome bonuses |
How To Combine Credit Cards
Canadians opt for multiple credit cards to sidestep the restrictions imposed by one card. While one card could be exceptional in particular areas, it can be lacking elsewhere.
A common example is the high rewards potential offered by the Amex Cobalt, at the expense of airport lounge access and global merchant acceptance. Another example is the BMO CashBack Mastercard, offering 3% on groceries that drops to 0.5% after exceeding $500 in monthly spending.
As such, you’ll need to objectively analyze the benefits and drawbacks offered by each card to find a compliment. While we’ve provided suggestions for you above the section, the table below offers a framework for comparing credit cards. Your goal is to understand the strengths and weaknesses of a card and find an option that balances the weaknesses.
| What Makes A Credit Card Good? | What Makes A Credit Card Bad? |
| High earn rate on categories that align with your spending | Spending caps on category earn rates |
| No foreign exchange fees | High interest rates and annual fees |
| Airport lounge access | Lack of merchant acceptance |
| Strong welcome bonus | |
| Robust insurance coverage from a reputable provider |
Combining Credit Cards vs. Churning
When maximizing credit card rewards, there are two main strategies: combining credit cards and churning.
Combining credit cards involves strategically using two or more cards to maximize rewards in different spending categories. This approach allows you to earn higher reward rates on specific expenses, such as groceries, travel, or everyday spending. By using different cards for different categories, you can optimize rewards potential.
On the other hand, credit card churning involves signing up for new credit cards to take advantage of their welcome bonuses and then cancelling or downgrading the cards after a certain period. Churning can be more time-consuming and requires careful management of multiple accounts and credit inquiries. While it can result in significant rewards in the short term, churning can also impact your credit score and may not be sustainable in the long run. Financial institutions also don’t like churning and can revoke your welcome bonuses.
Bottom Line
With Canada’s ever-expanding suite of credit cards, a strategic multi-card approach can help maximize value. The best card pairings optimize rewards where each card falls short. Just be sure to manage multiple credit cards responsibly by tracking spending and paying balances in full. Used strategically, credit card combinations let you earn accelerated rewards, insurance perks, and benefits tailored to your lifestyle.
Best Credit Card Combination FAQs
Can I combine credit cards from different banks?
Will combining credit cards affect my credit score?
How do I keep track of multiple credit cards?
Can I cancel a credit card without affecting my credit score?
Are there any downsides to combining credit cards?
¹Minimum balance in a Neo Everyday account required to earn the highest rate. Cashback earn subject to monthly maximum spend limits. Cashback may be limited and varies by perks, offer, and partner. There may be monthly limits for boosted cashback offers.
