Looking for the best credit cards in Canada? Whether you’re after travel rewards, maximizing cash back, or building credit from scratch, there’s a card tailored to your lifestyle. With dozens of options and perks — from lounge access to low interest rates, to travel insurance and beyond — it pays to carefully review your options.
Key Points
- There is no one “best” credit card in Canada because everyone’s needs are different.
- However, depending on what you need, you can find the best credit card for you, whether that’s a credit card with no annual fee, travel benefits or flexible rewards.
- Some of the best credit cards in Canada today include the Scotia Passport Visa Infinite for travel and the Tangerine Money-Back credit card for cash back rewards.
- Before applying for a credit card, consider the eligibility requirements, including minimum income and credit score.
What Is The Best Credit Card In Canada?
In Canada, there isn’t necessarily a “best” credit card, because everyone’s finances and spending behaviours vary. The right card for you may not be what’s best for someone else.
While some people do well with no-fee cards that offer basic rewards, others find more value in premium cards that come with extras, like travel insurance and airport lounge access. At the end of the day, the perfect card is the one that suits your lifestyle and supports your financial goals.
Best Credit Cards In Canada: Overview
| Best For | Annual Fee | Interest Rate | |
| Scotiabank Passport Visa Infinite | Travel | $150 | – Purchase: 20.99% – Cash advance: 22.99% |
| Tangerine Money-Back | Cash back | $0 | – Purchase: 20.99% – Cash advance: 22.99% |
| Amex Business Gold | Business | $199 | Charge card (30% on unpaid balances) |
| American Express® Aeroplan®* Card | Aeroplan points | $120 | Charge card (30% on unpaid balances) |
| RBC RateAdvantage Visa | Low interest | $0 | Prime + 4.99% – 8.99% |
| President’s Choice Financial® World Elite Mastercard | Retail/Groceries | $0 | – Purchase: 21.99% – Cash advance: 22.97% |
What Is The Best Travel Credit Card?
The Scotia Passport Visa Infinite is a great option for avid travellers looking for an affordable credit card. With an affordable annual fee of $150 and a welcome offer of 40,000 Scene+ points, the Scotia Passport Visa Infinite shines through among the best travel credit cards. Moreover, it includes travel insurance, six free airport lounge visits and no foreign transaction fees.
The card also has a decent points system that will garner you 3 points per dollar at select grocery stores and travel bookings made through Scene+ Travel. Plus, you can earn 2 points per dollar on common purchases, including gas, groceries, pharmacies, restaurants, transportation, and entertainment purchases. All other purchases made on the card will give you 1 point for every dollar.
- Annual Fee: $150
- Interest Rate: 20.99% (purchase rate); 22.99% (cash advance rate)
- Welcome Bonus: 40,000 bonus Scene+ points; 1st year annual fee waived on first supplementary card
- Earn Rate:
- 3X Scene+ points per dollar spent on hotel & car rental bookings made through Scene+ Travel
- 3X Scene+ points on eligible groceries
- 2X Scene+ points on dining out, eligible entertainment purchases, & eligible transit options
- 1X Scene+ points on all other purchases
- Other Perks:
- No foreign transaction fees
- Access to 1,200+ airport lounges
- Car rental discounts
- Travel insurance
What Is The Best Cash Back Credit Card?
With a no-nonsense attitude, the Tangerine Money-Back credit card provides users with a balanced credit card that gives back great value.
The card comes with no annual fee and a cash back earn rate of 2% on any two spending categories of your choice. If you open a savings account with them, you could add a third category. All other purchases will earn you 0.5% cash back.
Right now, you can earn up to 10% cash back (up to $100 value) as a welcome bonus when you first sign up for the Tangerine Money-Back credit card.
- Annual Fee: $0
- Interest Rate: 20.99% (purchase rate); 22.99% (cash advance rate)
- Welcome Bonus: 10% cash back for purchases made in the first 2 months
- Earn Rate:
- 2% cash back on purchases in two categories
- Get a third 2% Money-Back Category when you deposit your cash back rewards in a Tangerine Savings Account
- Other Perks:
- Purchase assurance and extended warranty
- Up to 5 authorized users on one account
- Track your spending
- Orange Alerts through text or email
What Is The Best Credit Card For Business?
The Amex Business Gold is a charge card with an annual fee of $199. This may seem like a hefty fee, but its features make up for it.
With this card, you can easily manage your business expenses by paying over time thanks to the flexible payment option. Additionally, you can use your earned points to receive statement credits, which can help cover eligible purchases made with your card.
Thanks to the no pre-set spending limit, your card adapts to your needs, giving you the purchasing power to handle expenses and freeing up cash when you need it most.
In addition, Amex Business Gold protects you with its comprehensive insurance coverage. It includes travel protection, purchase protection and employee card abuse protection.
- Annual Fee: $199
- Interest Rate: Charge card
- Welcome Bonus: Up to 100,000 bonus Membership Rewards® Points
- Earn Rate: Earn 1 point for every $1 in purchases
- Other Perks:
- Up to 55 interest-free days
- Earn 10,000 Membership Rewards® points for each quarter when you spend $20,000
- No pre-set spending limit
- Flexible payment option that allows you to pay part of your balance over time
- Travel insurance
What Is The Best Credit Card For Aeroplan Points?
The American Express® Aeroplan®* Card is among the best credit cards for Aeroplan points. When you first sign up, you can earn up to 40,000 Aeroplan points after spending up to $4,000 in the first 13 months. Then, you’ll earn 2X the points on eligible purchases with Air Canada and Air Canada Vacations.
You can also take advantage of Amex’s travel coverage, including coverage for flight and baggage delay, car rental insurance, and travel accident insurance. Other travel perks include your 4th hotel night free when you redeem with Aeroplan points, and your First checked bag free when flying.
- Annual Fee: $120
- Interest Rate: Charge card
- Welcome Bonus: Up to 40,000 Aeroplan points after spending up to $4,000 in the first 13 months
- Earn Rate:
- 2X the points on eligible purchases with Air Canada and Air Canada Vacations
- 1.5X the points on eligible dining & food delivery purchases
- 1X the points on all other purchases
- Other Perks:
- First checked bag free
- 4th hotel night free when redeemed with Aeroplan®* points
- Reach Aeroplan EliteTM* Status faster
- No pre-set spending limit
- Access to exclusive Amex Experiences
- Travel insurance
What Is The Best Low-Interest Rate Credit Card?
If you’re looking to save money on interest charges — particularly if you carry a balance — consider the RBC RateAdvantage Visa. With a purchase rate of Prime + 4.99% to 8.99%, you can keep costs very low when carrying a balance forward. Plus, there are no annual fees to cover.
While there the card doesn’t offer a rewards system, the potential savings on interest and annual fees more than make up for it. That said, you can earn Be Well points with Rexall purchases and save at the pump at Petro-Canada.
- Annual Fee: $0
- Interest Rate: Prime + 4.99% – 8.99%
- Welcome Bonus: N/A
- Earn Rate: N/A
- Other Perks:
- Purchase security
- Extended warranty coverage
- Fuel savings at Petro-Canada
- Earn more Be Well points with Rexall purchases
What Is The Best Store Credit Card?
The President’s Choice Financial® World Elite Mastercard offers a generous reward system with no annual fee. Cardholders enjoy 30 PC Optimum points for every dollar spent at partner grocery stores, like Loblaws, Zehrs, Fortinos, and Real Canadian Superstore, among others.
The card also comes with other perks, including travel insurance coverage, rental car protection, and round-the-clock concierge services for dinner reservations or event tickets.
- Annual Fee: $0
- Interest Rate: 21.99% (purchase rate); 22.97% (cash advance rate)
- Welcome Bonus:
- Earn Rate:
- 30 points for every dollar at participating grocery stores
- 45 points for every dollar at Shoppers Drug Mart/Pharmaprix
- 30 points/L at Esso & Mobil gas stations
- 30 points for every dollar at PC Travel
- 10 points for every dollar on all other purchases
- Other Perks:
- Travel insurance
- Rental car protection
- Identity theft assistance
- 24/7 concierge services
Looking for the best credit card options?
How Do I Pick the Best Credit Card For Me?
Before choosing a credit card, consider the following factors to ensure you make the right pick:
Credit Card Category
One of the first things you should figure out is what you want from your credit card. Do you want to build credit? Earn cash back? Point flexibility?
Once you get a broader understanding of what kind of credit card you want, you can hone in on the details.
Annual Fee
Most cards come with an annual fee. Be sure the card’s perks outweigh the cost of this fee.
For instance, if you have an annual fee of $200 with a cash back rate of 1% to 2%, you’d have to spend between $10,000 to $20,000 a year to get $200 back in cash. If your yearly spending doesn’t exceed this amount, you’d be better off getting a different credit card that either has a lower annual fee or a higher cash back or points system.
Otherwise, there are some credit cards with no annual fee, but the perks might not be as substantial.
Interest Rate
Choosing a credit card with a low interest rate helps you save money if you carry a balance, freeing up cash for other expenses and financial goals. You should also consider the cash advance rate if you plan to use your card to withdraw cash. This is particularly important because interest starts to accrue immediately after a credit card cash advance, so the lower the rate, the better.
Points
If the credit card you’re considering offers a cash back rewards system, consider how many points you can earn per dollar spent. You’ll also want to know how and where you can earn points.
Choose a credit card that offers the most points on purchases you make the most often. For instance, if you spend a lot of money on groceries, perhaps a system that offers a higher earn rate on eligible supermarket expenditures might make most sense for you.
Welcome Offer
Several credit card issuers offer welcome bonuses that can easily equal a few hundred dollars.
Other Perks
Many credit cards offer several other benefits for being a cardholder. For example, many travel credit cards offer travel insurance, which may cover medical, trip cancellation and baggage protection.
Other cards offer VIP airport lounge access, purchase protection, and exclusive access to events. Choose a card that most closely aligns with your lifestyle.
Am I Eligible For A Credit Card?
When you apply for a credit card, there are a number of factors an issuer will consider:
- Income: Credit card issuers often have an income requirement to ensure you can make timely payments. The amount itself is dependent on the issuer and the type of card you are applying for. Generally, the higher-level card you apply for, the higher the minimum income requirement will be.
- Credit score: Credit card issuers typically conduct credit checks to assess an applicant’s creditworthiness. The more prestigious the card, the higher your credit score will need to be.
- Residence: Most issuers will require you to be a permanent resident of Canada to be eligible for a credit card. That means temporary foreign students or workers cannot qualify for a credit card.
- Age: By law, you must be at least the age of majority within your province or territory to qualify for a credit card.
- Business: If you’re applying for a business credit card, you’ll need to be an owner of a business to apply.
Final Thoughts
No matter what your lifestyle or spending habits are, there’s a credit card available that’s suitable for you. From travel perks to low-interest savings and beyond, there are plenty of great card options in Canada. Just be sure to choose wisely to spend smarter while enjoying perks that work best for you.
