Pros

• Solid rewards: Earn 1.5% on all purchases in Canada. As a Mastercard, this is one of the best cards to use at Costco, which doesn’t accept Visa or American Express.
• Rogers, Fido, and Shaw customers earn more: Customers get 2% cash back on all purchases (instead of the standard 1.5%). Plus, when they redeem cash back with Rogers, Fido, or Shaw, the rewards are worth 1.5 times more. 
• U.S. shopping bonus: Earn 3% cash back on U.S. currency purchases, easily offsetting the standard 2.5% foreign transaction fee. 
• No annual fee: This is uncommon for World Elite Mastercards in Canada.
• Flexible redemptions: Redeem rewards against purchases on your card for as little as $10.

Cons

• High income requirement: As a World Elite Mastercard, this card carries eligibility requirements that put it out of reach for some Canadians. 

Pros

• Straightforward redemptions: Redeem for travel purchases through Scene+ Travel, Powered by Expedia, in increments of 100 points (valued at $1). There are no complicated rules or exceptions to manage. 
• Redeem points retroactively: Through the “apply points to travel” option, you can redeem your points for up to 12 months after you make a travel purchase.
• Generous insurance package: This card includes 12 types of insurance coverage, including emergency medical (including for those over 65), travel accident, hotel burglary, and more.
• No foreign transaction fees: Enjoy savings on foreign currency transactions when travelling or online shopping, since this card waives the usual 2.5% foreign transaction fee. 
• Basic eligibility requirements: You will need an income of $12,000 per year to qualify, making it accessible to most Canadians.

Cons

• Fixed point redemption value: Although earning rates are high, points are always valued at 1 cent and cannot be transferred to airline frequent flyer programs.
• No free airport lounge passes: While the card offers a discount on Priority Pass memberships for airport lounge access, it doesn’t include any free lounge visits.

Pros

• Variety of redemption options: You can redeem your points for high-value rewards, including movie tickets and concessions, dining at restaurants, shopping at Sobeys, travel, statement credits, Apple products, and merchandise.
• Redeem points retroactively: Through the “apply points to travel” option, you can redeem your points for up to 12 months after you make a travel purchase.
• Basic eligibility requirements: You will need an income of $12,000 per year to qualify, making it accessible to most Canadians.

Cons

• Fixed point redemption value: Although earning rates are high, points are always valued at $0.01 and cannot be transferred to airline frequent flyer programs, unlike some other cards.
• No free airport lounge access: While the card offers a discount on Priority Pass memberships for airport lounge access, it doesn’t include any free lounge visits.

Pros

• Free checked bags for up to nine people: Cardholders and up to eight companions travelling on the same reservation get their first checked bag free on Air Canada flights. 
• Flexible redemptions: Redeem your points for Air Canada flights or on a dozen Star Alliance partners like Lufthansa and United. 
• NEXUS fee rebate: Receive a partial reimbursement of your NEXUS fee every 48 months, making it easier to travel over the Canada-U.S. border.
• Competitive insurance package: This card includes emergency medical travel coverage for up to 21 days—longer than many comparable cards—or up to four days for Canadians 65 and older.

Cons

• High annual fee: This card charges a slightly higher fee than some other cards in its category at $139 per year.

Pros

• Air Miles Gold status: Get automatic Gold collector status and related perks.
• Earn Miles twice: Show your Air Miles Collector Card when paying at Air Miles partners to double your Miles.
• Gas savings: For a limited time, save $0.25 per litre at Shell on eight fill-ups, on top of savings of $0.7 per litre on Shell V-Power NiTRO+ fuel or $0.2 per litre on all other fuel.

Cons

• Limited Air Miles partners: Many partners like Sobeys, Metro, Staples, and LCBO have left the program over the years, which gives you fewer opportunities to earn rewards.
• Low base earn rate: On regular purchases that aren’t part of the bonus categories, you have to spend $25 to earn 1 point.
• Limited insurance: This card only includes extended warranty and purchase protection.

Pros

• Well-rounded insurance package: Enjoy almost a dozen types of insurance coverage, including trip delay, baggage coverage, rental car coverage, and more.
• Visa Infinite benefits: Get access to the Visa Luxury Hotel Collection, Visa Dining, and Wine tasting, all of which provide deals on exclusive accommodations and experiences.
• Annual fee waiver: Sign up for the Scotiabank Ultimate Banking Package and Scotia will waive this card’s annual fee (a $120 value).

Cons

• High income requirements: You’ll need either $60,000 personal or $100,000 household annual income to qualify.
• Rewards are only available as statement credits: This card doesn’t allow you to choose how to redeem points. Instead, a cash back statement is issued to cardholders once per year.

Pros

• High earning potential: This card gives you the highest earn rate for gas in Canada and one of the highest for groceries.
• Gas savings: Link your card with Journie Rewards and save up to 10 cents per litre at Pioneer, Fas Gas, Ultramar, and Chevron stations.  
• Easy redemption: Redeem cash back anytime (for a minimum of $25) through CIBC’s online and mobile banking.

Cons

• High eligibility requirements: Qualifying for this card may be more challenging with a minimum income threshold of $60,000 per year for individuals and $100,000 for household earnings. 
• Earning cap: Most cards have specific limits for each category, but this card caps higher bonus rates at $80,000 net spending, which may be limiting for large households.
• Limited insurance: The card offers limited insurance options for a $120 annual fee.

Pros

• Earn more at Loblaw banner stores: Rack up the equivalent of 4.5% cash back in PC Optimum points at Shoppers Drug Mart and 3% on groceries from Loblaws banner stores.
• PC Optimum points are easy to understand: 10,000 points are equivalent to $10 redeemable in merchandise or a free car wash, or you can trade 4,000 points for 10 cents off per litre at Esso stations.
• Includes basic insurance: The card comes with travel emergency medical insurance and rental car insurance.
• Double up on points: You can stack points on points by using your credit card to pay for personalized offers from the PC Optimum app, in-store points offers, and/or flyers.

Cons

• No free gas reward: Although you can earn points at Esso and Mobil gas stations, you can’t redeem points for free gas.
• High income requirement: The minimum annual income requirement of $80,000 for an individual (or $150,000 as a household) may make the card inaccessible to some Canadians.
• Minimum spending requirement: You must spend a minimum of $15,000 annually to maintain this account. If you don’t, you will automatically be considered for a different PC card.

Pros

• Excellent rewards: Earn up to 6 points on groceries and 5 points for every $1 spent on dining, food delivery, and entertainment—among the best reward rates for these categories. You’ll also earn 3 points per $1 on gas, transit, and streaming services.
• Long travel redemption window: Through the “apply points to travel” option, you can redeem your points retroactively for up to 12 months after you make a travel purchase.
• Comprehensive insurance benefits: The card offers robust travel insurance coverage, including $1 million in medical travel insurance valid for up to 25 days.
• Low income requirements: You only need an income of $12,000 per year to qualify for the card, making it accessible to most Canadians, although you’ll still need a good credit score.

Cons

• No free lounge passes: While the card offers a discount on Priority Pass memberships for airport lounge access, it doesn’t include any free visits.
• Fewer points on foreign purchases: Purchases in a foreign currency earn at the base rate of 1 point per $1 spent.

Pros

• Airport lounge access: This card comes with complimentary Visa Airport Companion membership and six lounge passes per year, the most free visits of any travel credit card in a similar fee range.
• No FX fees: You won’t be charged a foreign transaction fee on purchases made in international currencies.
• Good travel insurance: Get emergency medical insurance for up to 25 days (for those under 65 years of age), plus trip cancellation, flight delay, lost baggage, rental car insurance, and more.

Cons

• Limited earning potential: The points earned in categories, such as dining and entertainment, are valued at less than what you might get from other cards.
• Fixed point value: Travel points are always valued at one cent each, and unlike some other credit cards, you can’t transfer points to airline loyalty programs. 
• High annual fee: The $150 annual fee is steeper than that of some similar credit cards.

Pros

• Length of emergency medical coverage: Get $5 million in emergency medical coverage for trips of up to 60 days, which is three times longer than many other top-tier travel insurance cards. Canadians ages 65 to 75 are covered for up to 15 days (typically, coverage is for 3 to 5 days).  
• Coverage for travel inconveniences: Comes with above-average trip cancellation coverage of $2,500 and trip interruption coverage of $5,000. 
• Annual fee: While higher than the average cost of $120, the $150 annual fee is much lower than most premium cards with comparable or lesser insurance packages.
• Airport lounge access: Cardholders have unlimited access to the National Bank Lounge at the Pierre Elliott Trudeau Airport in Montreal in addition to a Mastercard Travel Pass membership.

Cons

• No travel accident coverage: You’re not covered for injuries that occur while travelling on a common carrier, such as an airplane or train. 
• High income requirements: As with other World Elite Mastercards, the eligibility requirements may be difficult to meet: a gross annual income of $80,000 for individuals or $150,000 for households, $400,000 in investable assets, or an annual spend of $25,000 on the card itself. 
• No welcome bonus: For a card that charges a premium fee, it’s surprising that you don’t earn even a little welcome bonus.

Pros

• Boosted cash-back categories: Groceries and transit are some of this card’s highest earning categories, but you’ll also earn 3% back on gas (up to a $300 monthly spending limit).
• Fuel discount: Earn an automatic 7 cents off per litre at Shell.
• Free roadside assistance: Simply call if you need a battery jump, delivery of fuel, tow to a mechanic, or assistance with a flat tire. 

Cons

• Mastercard Travel Pass: While this card gives you airport lounge membership by DragonPass, it doesn’t include any free lounge visits. You must pay a fee of USD$32 per visit.
• High income requirements: The income requirement is high at a minimum of $80,000 per year for individuals and $150,000 for households.

Pros

• Flexible rewards program: RBC Avion points can be worth as much as 2.3 cents each when redeemed for travel, which is a high value among travel rewards cards. You can redeem points for travel through RBC, transfer points, or select reimbursement.
• Generous insurance package: This card includes impressive travel insurance coverage, including trip cancellation and interruption, and emergency medical.
• Strong welcome bonuses: While they vary throughout the year, you’ll typically start your rewards off with a tidy sum of Avion points after meeting certain requirements.

Cons

• Lacklustre competitive: The highest earn rate is 1.25%, which is relatively low for a premium card; other premium cards offer significantly higher earn rates.
• High income requirements: The personal annual income requirement of $60,000 (or household income of $100,000) may be too high for some applicants.

Pros

• High everyday earn rate: Rack up three times the cash back on groceries, gas, EV charging, digital gaming, and recurring bills.
• Roadside assistance: The value of this card’s free roadside assistance more than pays for the card’s annual fee. 
• Generous welcome bonus: Get 10% back for the first three months on the enhanced earnings category (up to $3,500 in spending).

Cons

• Standard insurance: For a premium card, you might expect more robust insurance coverage or higher coverage limits.
• High income requirements: The minimum income requirement of $60,000 personal or $100,000 household income might be too high for some Canadians to qualify.

Pros

• Lowest interest rate available: The Flexi Visa has the lowest purchase APR of any no-fee card in Canada.
• Travel insurance included: This card comes with emergency medical, trip cancellation, and baggage coverage for up to three days—suitable for a weekend trip. Plus, the emergency medical coverage applies to travellers age 75 and under, whereas coverage stops at 65 with some cards. 
• No annual fee or income requirements: You don’t have to pay anything for the privilege of using this card—but be aware that you still have to meet credit score requirements. 

Cons

• Interest rates may increase: If you fail to make your minimum payment on time, the interest rate for both purchases and cash advances goes up to 19.99%. 
• No rewards: You won’t earn rewards on your purchases, but if you know you’ll be carrying a balance, the lower interest rates are the way you’ll save money with this card.
• No balance transfer promotion: If your goal is to pay off a current credit card balance fast, consider a card with a balance transfer promotion instead. The Flexi Visa doesn’t charge a balance transfer fee, however, which is a plus for those who decide to transfer anyway.
• Limited in-person support: Desjardins only offers brick-and-mortar branches in Ontario and Quebec.

Pros

• Best promotional balance transfer offer: The welcome offer gives you a full year interest-free to get on top of your debt.
• Low regular purchase interest rate: This rate is fixed and won’t change regardless of missed payments or changes in the prime rate.
• No annual fee: You don’t have to pay an annual fee to use the card. This means more money to put towards your credit card balance.

Cons

• Balance transfer fee: The transfer fee of 3% (with a minimum fee of $7.50) is higher than comparable cards with a transfer fee of 1% or 2%. 
• Not available in Quebec: Residents of the province aren’t eligible for this card.

Pros

• Cash back on purchases: You can earn cash back on gas, groceries, and purchases made at Neo’s partner businesses.
• Low deposit requirement: With a minimum deposit of just $50, this card is accessible to most people, whereas many other secured cards require a deposit of $500 or more.
• Customizable rewards: For a monthly fee, you can subscribe to Neo’s Perks program, which offers extra rewards on spending and additional benefits, including airport lounge access.

Cons

• Annual fee: If you’re looking for a card to establish or rebuild credit, you may not want to add a $60 annual credit card fee to your budget. 
• Potentially high interest rates: Based on your credit profile, your interest rate may be as high as 29.99% on purchases and 31.99% on cash advances, which is steeper than the rates of other secured cards.
• Limited cash back potential: There is a cap on how much cash back you can earn, which may not be ideal for heavy spenders.

Pros

• High grocery earn rate: This BMO card gives the highest cash back rate for groceries among no-fee credit cards in Canada.
• Variety of redemption options: Redeem your cash (starting with as little as $1) whenever you wish, and have it applied as a statement credit, added to your BMO InvestorLine account, or deposited into your BMO chequing or savings account.
• Rental car discount: Save up to 25% on National or Alamo rental cars.

Cons

• Low monthly cap: This card only allows you to earn increased rewards on spending of $500 on groceries and recurring bills per month.
• Many retailers don’t qualify as grocery stores: Be aware that if you love stopping in at a bakery, coffee shop, or convenience store to grab a quick bite, these aren’t coded as grocery stores, so you won’t earn boosted rewards.
• Low base earn rate: If you’ve maxed out your groceries and recurring bills spending or are making other purchases, you’ll only earn 0.5% back.

Pros

• No credit history required: Apply without a Canadian credit file through the Simplii New to Canada Banking Program. Apply for the program up to one year before arriving in Canada or up to five years after arriving.
• High earn rate on dining: Earn 4% at restaurants, bars, and coffee shops—almost double what similar no-fee cash back cards offer.
• Rewards on global money transfers: Get cash back on international transfers, with no transaction fees or interest charges if the balance is paid by the due date.
• Low income requirement: This card is accessible to most people as long as you have $15,000 in personal or household income.

Cons

• Simplii bank account required: To get this card, you’ll need a Simplii Financial account—an unusual requirement for a credit card.
• Annual redemption: Cash back is only redeemable as a statement credit once a year in December.
• Earning caps: The 4% cash back on dining is limited to the first $5,000 spent annually, and the 1.5% rate on other categories is capped at $15,000 in annual spending.

To select the best cards out of all your options in Canada, we evaluated several key factors that are important when using a credit card. First, we considered the return on spending, annual fees, and interest rates. We also looked at financial goals like saving on balance transfers, establishing credit, or travelling abroad. The addition of links from affiliate partners has no bearing on the results in this ranking. Read more about the MoneySense selection process and about how MoneySense makes money.