Visa credit cards are some of the most widely accepted credit cards in Canada and abroad. And given Visa’s vast selection of cards, it’s easy to find one that suits your needs. So, which should you choose? MoneySense’s guide to the best Visa credit cards in Canada will help you decide.
Best Visa credit cards in Canada
CIBC Dividend Visa Infinite Card
BMO eclipse Visa Infinite Card
Home Trust Secured Visa Card
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Compare popular Visa credit cards
Compare your options with the Visa cards available in Canada, using our interactive tool. You can filter credit cards based on rewards value, annual fees, income requirements and more. Use the tool below to compare credit card options, or keep scrolling for the top picks from the MoneySense editorial team.
MoneySense award winners
Check out the pros and cons of our top Visa picks across the cash back, travel, balance transfer and other categories.
MoneySense editors rank the best overall credit cards in Canada. From there, if the top card in Canada for a given category is a Visa, we may choose to include it on this page, depending on its features and how it compares to other cards. And if our top pick is a Mastercard or American Express card, then we look to the next-best card, and so on, until we find the best Visa credit card for each category on this list. Since each category is unique, we use different selection criteria each time to best suit cardholders. And, unlike many other websites, the links from affiliate partners have no bearing on these results. Read more about our selection process and about how MoneySense makes money.
Best cash back Visa credit card
At a glance: Take the sting out of inflation on essential items with this card: the CIBC Dividend Visa Infinite. You get 4% cash back on gas, EV charging and groceries, and 2% back on daily transit (including rideshares and public transit), dining and recurring payments. It’s also one of the best cash back credit cards in Canada, and it comes with perks like emergency medical and rental car collision insurance.
CIBC Dividend Visa Infinite
Annual fee: $120 (rebated first year)
- 4% cash back on eligible gas, EV charging and grocery purchases
- 2% on dining, daily transit and recurring payments
- 1% on everything else
Welcome offer: Get up to $400 in value, including a first-year annual-fee rebate. Offer not available to Quebec residents.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 725 or higher |
Pros
- High earning: This top cash back Visa offers impressive bonus rates across five major spending categories.
- Easy redemption: With many other Canadian credit cards, rewards are deposited into your account once per year. But with this card you can redeem your cash back whenever you want to, by simply using the CIBC app.
- Gas savings: Link your card to Journie Rewards to get discounts on gas at participating Pioneer, Fas Gas, Ultramar and Chevron stations.
- Insurance coverage: This card comes with travel, car rental and new mobile device insurance.
- Dining perks: Access to OpenTable priority bookings and VIP reservations.
Cons
- Limited travel insurance: Emergency medical insurance only covers the first 10 days of a trip, and there’s no lost and delayed baggage insurance.
- Earning cap: The bonus rate caps are stricter than those of some other Canadian credit cards. After reaching $20,000 in purchases within the bonus categories or $80,000 in total spending, additional purchases will only earn 1% cash back.
Best travel Visa credit card
At a glance: The BMO Eclipse Visa Infinite is an impressive travel rewards earner with 5 BMO Rewards points per $1 spent on all food or transit-related purchases. It comes with a $50 annual lifestyle credit, which you can spend however you wish. And when you sign up an additional user ($50 per card), you’ll get 10% more points on all purchases.
BMO eclipse Visa Infinite
Annual fee: $120 (waived first year)
- 5 points per $1 on dining, groceries, gas and transit
- 1 point per $1 on all other purchases
Welcome offer: Earn up to 70,000 points ($467 value)
Card details
| Interest rates | 21.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 725 or higher |
| Point value | 1 BMO Rewards point = $0.0067 when redeemed for travel |
Pros
- High earning: Get 5 points per $1 on expenses including food and gas purchases, which are heavy spending categories for most Canadians.
- Lifestyle credit: This travel credit card comes with a $50 annual credit that you can use at your own discretion.
- Dining perks: Access to OpenTable priority bookings and VIP reservations.
Cons
- BMO Rewards point value: Know that 1 point is worth $0.0067 when redeemed for travel, which is on the low side for a premium card. It might be worth having another travel credit card in your wallet.
- Limited travel insurance coverage: This card doesn’t include flight delay and lost/delayed baggage insurance. The next credit card might pique your interest though.
Best low-interest Visa credit card
At a glance: The Flexi Visa from Desjardins credit union should be considered if you expect to carry a balance on your card. Its low standard interest rates—10.90% on purchases and 12.90% on cash advances—are the lowest in Canada for a no-fee credit card. Plus, it comes with some travel insurance, select rental car discounts and mobile device insurance.
Desjardins Flexi Visa
Annual fee: $0
Rewards: Does not offer rewards.
Welcome offer: None at this time.
Card details
| Interest rates | 10.90% on purchases and 12.90% on cash advances |
| Income required | Not specified |
| Credit score | Not specified |
Pros
- Travel insurance: This low-interest credit card includes emergency medical, trip cancellation and baggage insurance.
- Mobile device insurance: Up to $1,000 in coverage when you charge a new phone to the card—a rarity among no-annual-fee credit cards in Canada.
- Car rental discount: Get up to 15% off the cost of renting a car when you book at Hertz, Thrifty and Dollar.
- Installment payment options: Need a small loan for a big purchase? Pay for purchases of $200 or more in installments at 120 select retailers and brands, including Amazon, Simons and Air Transat.
Cons
- Travel insurance coverage period: Coverage on this card is only valid for three days, so you’ll have to pay for coverage for longer trips.
Best balance transfer Visa credit card
At a glance: The CIBC Select Visa Card offers an attractive 13.99% interest rate, even on cash advances, and it has a 10-month balance transfer offer of 0% interest (when transferring $100 or more) and a low 1% balance transfer fee.
CIBC Select Visa
Annual fee: $29 (rebated for the first two years)
Balance transfer offer: Receive a 0% interest rate for up to 10 months on balance transfers of $100 or more and a two-year annual fee rebate.
Card details
| Interest rates | 13.99% on purchases, 13.99% on cash advances, 13.99% on balance transfers |
| Income required | $15,000 per year |
| Credit score | 660 or higher |
Pros
- Low balance transfer fee: The 1% fee ($10 per $1,000 transferred) is the lowest on this list of best Visa credit cards. The transfer fee savings on large balances here can be worth the annual fee for some Canadians.
- Low interest rates: The regular APR of 13.99% on purchases, cash advances and balance transfers is much lower than industry standards of 19.99%. If you carry a balance, that difference could be huge.
- Gas savings: Link this Visa card with Journie Rewards to save up to $0.10 per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.
Cons
- Balance transfer limit: When you transfer a balance, it cannot exceed 50% of your total approved credit limit, which may be restricting for Canadians looking to move a large balance.
Best secured Visa credit card
At a glance: What’s great about this Home Trust card is that you’re given a choice: If you’re willing to pay a modest annual fee of $59, you’ll save on interest with a 14.90% purchase interest rate. Or if you prefer no fee, you’ll be charged a higher interest rate of 19.99%. We like that this secured Visa card gives you the option to choose what works best for you for fees and interest.
Home Trust Secured Visa
Annual fee: $0
Rewards: Does not offer rewards.
Welcome offer: None at this time.
Card details
| Interest rates | 19.99% on purchases and 19.99% on cash advances |
| Income required | None specified |
| Credit score | 300 or higher |
Pros
- Choice of two options: Pay an annual fee of $59 annual fee to save on interest with a 14.90% interest rate. Or, get the same card for no annual fee, but with a higher interest rate.
- Reports to both credit bureaus: Home Trust reports your activity to both TransUnion and Equifax, which helps you build your credit rating if you pay your bills on time.
Cons
- High minimum deposit: You’ll need to deposit $500 upfront. Some issuers only require a $50 deposit.
- Not available in Quebec: Residents of the province aren’t eligible for this secured Visa.
What types of credit cards does Visa have?
Visa is a legacy credit brand, so it’s no wonder that pretty much every financial institution offers its own Visa credit card. Visa came to Canada with cards in 1968, with its then-called Chargex cards, which ultimately became Visa cards in 1976. Today, though, there are five types of Visa credit cards (in order from least to most perks and value):
- Visa Classic
The most basic of its cards, Visa Classic comes with few perks and value. It is a good entry card for newcomers, students or anyone trying to build their credit score. And, like the other Visa types below, it’s accepted worldwide and offers fraud protection. - Visa Gold
A step up from Classic, Visa calls its Gold tier “a premium card.” It can come with travel insurance, extended warranty and deals, and, depending on the provider, it may also feature concierge services, partner deals and foreign exchange fee savings. - Visa Platinum
As you would expect, Platinum offers more perks than Gold. In addition to travel and warranties, this Visa credit card type gives cardholders access to discounts and deals with car rentals and hotels. Cardholders may also take advantage of airport lounges, price protection (can help you save when you buy something with the card and the price has since dropped), cash-back rewards and more. - Visa Infinite
As the second-most valuable Visa credit card, Infinite comes with all of the above benefits and a bit more, such as exclusive experiences and premium perks, like purchase warranty, mobile device insurance and Infinite clientele support. There are reward cards, including points and cash back. Infinite cardholders also have access to exclusive offers and discounts for dining, entertainment and sport experiences. - Visa Infinite Privilege
This is the creme de la creme of Visa cards that Visa says comes with the “ultimate purchasing power.” It serves big card spenders and travellers well. In addition to the above benefits, priority security lanes at airports, airport lounge access, travel insurance, and travel credits, Visa Infinite Privilege cardholders get the top concierge services and discounts on parking.
Of course, all the perks discussed above can change and can vary by credit card provider. So it’s always best to check the provider’s website or call them directly for any credit card-related questions.
How do installment payments work with Visa credit cards
You may have seen BNPL offers on websites, giving you credit and flexibility to “buy now and pay later” in installments. It’s similar to a line of credit, but more structured with a payment schedule. Well, Visa offers this service, Visa Installments, for eligible cardholders at participating financial institutions. Check with your Visa card provider to find out if it’s accessible to you. Here’s how it works.
What can you buy with Visa Installments
Visa Installments is good for big-ticket purchases, like furniture, appliances or tech devices. The program allows the cardholder to use a repayment plan with 0% APR.
If you’re building your credit score and/or needing access to more credit, this option can be a good one for credit card holders in Canada.
What is the process for buying something in installments with a Visa card?
Before you make the purchase using your Visa credit card, you need to opt into the Visa Installments program, also called Installments Enabled by Visa. You do this online or in a mobile banking app, where you handle your credit card account. Depending on the retailer it may also be available at checkout. But to be sure, set it up with your card provider. Note that the installment program uses your existing credit limit. It is not additional credit. Since the installment plan is aligned with your credit card, there are no credit checks, so opting in will not impact your credit score.
Then when you make the big purchase, you will see your installment plan option(s).
Once the purchase is made, you will see that on your credit card statements. Note, you will still have to pay the minimum balance for all other purchases. Installments are categorized separately from other purchases.
For returns or order cancellations, you will have to call your Visa credit card provider (as well as the retailer, of course!) to make changes to your installment plan. Visa, itself, does not handle transaction actions or inquiries.
How to apply for a Visa card
Well, applying for a Visa card is similar to applying for a Mastercard or an American Express card, in that you apply through the credit card issuer (bank, financial institution, retailer) and not through the credit card network company itself. Scroll up and you will see the best Visa card issuers in Canada. You can also apply through websites including MoneySense. (We’re personal finance journalists who ranked these Visa cards based on Canadians’ varying needs for credit and credit cards.)
So before you click the “go to site” or “apply now” button, ensure that you can qualify for the card you want. In addition to finding out the income required and credit score needed, you will need to be a Canadian citizen or resident and are above the age of majority in the province or territory you reside.
Then use this list to prepare for your application:
- Legal name
- Date of birth
- Home address
- Phone number
- Email address
- Employment status, including jobs, income information,
- Info about your other credit cards, if you have any.
- ID, which can include a driver’s license, passport or other government-issued ID (and a cellphone with a working camera to take photos of yourself and your ID If you’re applying online or through an app.)
You may need other items, depending on the card provider, but this is a good list to get you started.
When you’re ready, you follow the prompts and steps from the provider until you can review your application and submit it. Some will let you know right away and even give you access to credit immediately too, while others may take a few days to a few weeks.
