As the world's largest credit card company, Visa offers a wide array of credit cards and benefits, making it easy to find one that works for you.
When consumers shop for a new credit card, they typically look at the ability to collect points, the insurance coverage offered, fees and interest rates on unpaid balances—not at the credit card company itself. But if you already have an account with RBC, CIBC, Scotiabank or any other Visa issuers, you may be inclined to choose a card that’s “in the family.” Or, maybe you want to take advantage of the benefits offered by the largest credit card company in the world—Visa. Whatever your reasons for considering Visa, this guide will help you find a credit card that fits your lifestyle.
These are credit cards offered by Ratehub partners. You can find information about additional product options below.| Card | Rewards / Features | Annual fee |
|---|---|---|
| BMO eclipse Visa Infinite (get more details)* |
|
$120 |
| Scotia Momentum Visa Infinite (get more details)* |
|
$120 |
| CIBC Dividend Visa Infinite (get more details)* |
|
$120 |
| TD First Class Travel Visa Infinite (get more details)* |
|
$120 |
| TD Aeroplan Visa Infinite (get more details)* |
|
$139 |
| Home Trust Preferred (get more details)* |
|
$0 |
| Scotiabank Passport Visa Infinite (get more details)* |
|
$139 |
There are excellent Visa cards for all sorts of purposes but if you’re wondering which Visa card is the best in Canada overall, our selection is the BMO eclipse Visa Infinite. With this card, you can maximize the power of your everyday spending to earn BMO Rewards points that are easily redeemable for merchandise or gift cards, travel, as statement credits, or even to invest. Plus, you’ll receive a juicy $50 “lifestyle credit” annually that you can spend as you please. Card holders can rest easy with included mobile device coverage and travel insurance. With this Visa Infinite card, card holders can treat themselves to the Visa Infinite dining, hotel, concierge and experiences. For new members, there’s a generous welcome bonus of up to 70,000 BMO Rewards points and an annual fee waiver for the first year.
Interest rates: purchases 20.99%, cash advances 23.99%, balance transfers 23.99%
When it comes to perks, cash is king. You simply can’t find a more flexible reward currency, so it’s no surprise that cash back cards are extremely popular. The Scotiabank Momentum Visa Infinite tops our list for its high earn rate—4% on groceries and recurring bills, 2% on gas and daily transit (including public transit, taxis and rideshares), and 1% on everything else—and its robust purchase and travel protection.
Interest rates: Purchases 20.99%, cash advances 22.99%, balance transfers 22.99% (21.99% on cash advances for Quebec residents).
Get more details on the CIBC Dividend Visa Infinite*
From providing purchase protection and insurance coverage to offering opportunities to earn travel rewards, credit cards have revolutionized travel. Our top pick in this category, the TD First Class Travel Visa Infinite Card, allows you to earn TD points which you can redeem for rewards, including travel. For new cardholders there’s a bonus of up to 100,000 points, which is a travel value of up to $500 when redeemed online at ExpediaforTD.com. In addition to the sign-up incentive, this card gets first pick for its flexibility. Rewards can be applied to any travel expense—not just flights.
Aeroplan is one of the largest travel rewards programs in Canada. And with a refresh in November 2020, now is a great time to reconsider the card in your wallet. Travel rewards are hugely popular and finding the best program can be confusing. However, if Air Canada is your airline of choice, things just got a whole lot easier. That’s because with the TD Aeroplan Visa Infinite, you’ll get a bunch of Air Canada perks like preferred pricing that can get you a better deal on Air Canada when booking travel with points, and a free first checked bag on Air Canada for you and up to eight travel companions. The all-new Aeroplan rewards chart and generous stopover policy means you can get great value on your points when redeeming for travel on Air Canada as well as over two dozen Star Alliance partner airlines.
For a no fee card, this Visa comes with some great rewards. You’ll earn 4% on the first $5,000 you spend at restaurants, bars and coffee shops; 1.5% on the first $15,000 spent on gas, groceries and at drugstores; and 0.5% on everything else, with no limit. The welcome offer is very generous, with 10% cash back at restaurants and bars for the first four months (on spends up to $500). However, each of the bonus categories has a cap, meaning that earns exceeding the cap amount drop down to the base 0.5% rate. Note that you must currently hold a Simplii financial bank account to qualify for the card.
For travellers and cross-border shoppers, a card that doesn’t charge foreign transaction fees is a revelation. Most credit cards apply a surcharge of 2.5% to 3% in foreign transaction fees on top of the currency exchange, bumping up your cost for products and services purchased in different currencies. With that surcharge out of the way, you’re already saving—but the Home Trust Preferred Visa goes one better. It lets you earn 1% cash back on all purchases in Canada. And the card has no annual fee, so you keep more of your money in your wallet.
For students or those carrying debt, rewards and perks may be less important than having a credit card with low interest. RBC offers the Visa Classic Low Rate Option credit card. For the very affordable annual fee of $20, cardholders receive an interest rate of 11.99% on purchases and cash advances. Though basic, this card provides purchase protection and extended warranty protection, as well as zero liability protection against fraud, meaning if someone hacks your card, you’re not on the hook.
Travel rewards cards aren’t just about collecting points and getting insurance coverage; many give you access to airport lounges all over the world. And while some get you a few free lounge visits, the Scotiabank Passport Visa Infinite card gets you a Priority Pass membership and six free visits per year to your choice of more than 1,300 lounges, no matter your airline or class of service. That’s more free visits than most credit cards with an annual fee of $150 or less. Plus, you can use those free visits for your travel companions we well. Instead of waiting at the gate, you can enjoy comfy chairs, WiFi, bar beverages and soft drinks; some lounges offer spa services at extra charge, as well as shower facilities and nap rooms. Travellers will also appreciate that there are no transaction fees on foreign currency purchases they make with this card.
Most credit cards come with some type of travel insurance, but our pick for the most comprehensive coverage is the Meridian Visa Infinite Travel Rewards Card. Typically, cards come with $1 million in medical emergency coverage for a few weeks of travel, with little to no coverage for seniors; however, this card comes with up to $5 million per person for trips of up to 48 days if you’re 59 and under (23 days for ages 60 to 64). Even seniors up to the age of 75 will receive complimentary coverage for up to 15 days. It also includes solid trip cancellation and trip interruption insurance, flight delay insurance, baggage insurance and vehicle rental insurance. To top it all off: The card comes with up to $1,000 in mobile device insurance that’ll cover your cell phone if it’s lost, stolen or damaged.
Roadside assistance is one of those perks that most folks don’t think about–until they’re stranded on the side of the road out of gas or with a flat tire. If you carry the TD Cash Back Visa Infinite, you’re a Deluxe member of the TD Auto Club so your fuel or service is only a call away. With this package, you’re entitled to towing, winching, lock-out help, fuel delivery, and emergency service calls of up to 200 KMs. Even better, you’re covered 24/7, no matter which vehicle you’re driving, anywhere in Canada or the U.S. For commuters and road trippers, the TD Auto Club Deluxe membership is a valuable perk worth peace of mind and more when you travel by car.
If you’re a student who wants to build up your credit history, earn rewards and not pay an annual fee, then consider the Scotiabank Scene Card. The big perk is that you can earn points on everyday purchases towards free movies, which require 1,250 Scene Points each. Plus you’ll get discounts at restaurants, and up to 25% off car rentals at participating Avis and Budget locations as well. It’s also an easy card to qualify for, as it requires a modest annual income of $12,000.
For students or people just starting out, we recommend Koho, a prepaid Visa card that allows you to earn cash back rewards for your everyday spending without worrying about blowing your budget. With Koho, you load money into your account and then use your card to make purchases (and earn 0.5% cash back). Because your Visa is pre-paid, there’s no interest charged and no chance of spending more than you’ve loaded. There’re also financial literacy tools and features like RoundUp that will help you save more of your money. Koho is free, with unlimited transactions, but for those who want to leverage the product with features like more cash back, no foreign exchange, and financial coaching, there’s the Koho Premium account for $84 annually or $9 monthly.
While perks and rewards are great, you often have to pay an annual fee in order to get them. With the Scotiabank Momentum No-Fee Visa card, not only do members not pay an annual fee, they’re also given the opportunity to earn cash back. And with an introductory interest rate of 7.99% for the first six months, you can take advantage of transferring balances from higher-interest cards.
| Visa card | Best for | Best feature explained |
|---|---|---|
| BMO eclipse Visa Infinite | Everyday spending | Huge points bonus on all food and transit spending |
| Scotia Momentum Visa Infinite | Cash back | A good return rate of 4% cash back on groceries and bills |
| CIBC Dividend Visa Infinite | Gas and groceries | Earn 4% cash back on gas and grocery spends, 2% on restaurants, daily transit and recurring bills, 1% back on everything else |
| TD First Class Travel Visa Infinite | Travel | Earn 9 TD points per $1 on Expedia For TD. Redeem TD Points on travel-related purchases and everyday perks like cash back, gift cards and more |
| TD Aeroplan Visa Infinite Visa | Airline credit card | Lucrative rewards and free first checked bags for you and guests |
| Simplii Financial Cash Back Visa | No fee | 4% on dining (up to $5,000 annual spend) |
| Home Trust Preferred Visa | No foreign transaction fees | 2.5% savings on all foreign purchases |
| RBC Visa Classic Low Rate Option | Low interest | 11.99% annual interest rate on purchases |
| Scotiabank Passport Visa Infinite | Airport lounge access | 6 free annual passes to Priority Pass lounges |
| Meridian Visa Infinite Travel Rewards | Travel insurance | Up to $5 million in travel medical emergency coverage for 48 days. Up to 15 days coverage for seniors |
| TD Cash Back Visa Infinite Card | Roadside assistance | Get towing, winching, lock-out help, fuel delivery, and emergency service calls of up to 200 km |
| Scotiabank Scene Visa card* | Students | Earn Scene points on every purchase |
| Koho Visa | FIrst Visa | Improve credit rating, earn 0.5% cash back and financial literacy and savings tools |
| Scotia Momentum No-Fee Visa | Honourable mention | No annual fee and up to 1% cash back |
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