The best store credit cards in Canada for 2023

Store credit card	Category
PC Financial World Elite Mastercard*	Best for Loblaw banners, Shoppers Drug Mart and Esso
Neo Card*	Best for shopping local
Triangle Mastercard*	Best for Canadian Tire, Sport Chek and Mark’s
Amazon.ca Rewards Mastercard	Best for Amazon
Walmart Rewards World Mastercard*	Best for Walmart
CIBC Costco Mastercard	Best for Costco

Creatures of habit, rejoice! Your loyal shopping behaviours may just pay off, big time. If you shop regularly at certain retailers, using a store credit card can help you to earn discounts, free goods and exclusive perks by swiping or tapping for everyday purchases. Spending with a store credit card can even give you VIP access to sales. And if you already collect loyalty points, they’ll likely accumulate even quicker with a store credit card. Considering that these cards typically have no annual fee, the reasons to switch are racking up quicker than your latte charges. Read on to see which are the best store credit cards in Canada for making your daily spending work for you.

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If you spend at Loblaws, Shoppers Drug Mart and Esso

PC Financial World Elite Mastercard*

This credit card brings something more to the table–get it? Arguably the best no fee card credit for groceries in Canada, the PC Financial World Elite Mastercard earns you PC Optimum Points faster when you shop at any of the Loblaw banner stores (Loblaws, No Frills, Superstore, Fortinos, etc.), Shoppers Drug Mart and when you fill up at Esso and Mobil gas stations.

• Annual fee: $0
• Interest rates: purchases 20.97%, cash advances 22.97% (21.97% Quebec)
• Welcome bonus: None
• Earn rate: 30 points per $1 at Loblaws stores, PC Travel and Esso; 45 points per $1 at Shoppers Drug Mart; 10 points per $1 everywhere else
• Additional benefits: Travel emergency medical insurance and car rental collision or damage insurance
• Income requirement: $80,000 or $150,000 as a household

How it works

You 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. You’ll also earn 30 Optimum Points per litre of gas at Esso and Mobil stations—making it one of the best retailer credit cards for gas on the market—and 1% in PC  points everywhere else you swipe the card.

The loyalty system is easy to understand: 10,000 PC Optimum Points is equivalent to $10 redeemable in merchandise (or in other words, 10 points = $0.01 or 1%).

You can redeem your points at almost 2,500 participating retail locations including Loblaws banner stores and Shoppers Drug Mart/Pharmaprix locations. As soon as you reach over 10,000 points, you present your card at the register and the respective discount is deducted from your bill instantly.

Perks

This card doesn’t have an annual fee, and it offers free travel emergency medical insurance for up to $1 million for trips of 10 days or less. It also comes with car rental insurance, purchase assurance in case of theft, loss or damage after you buy an item with your card and extended warranty on certain items purchased with the card. It also has a free 24/7 concierge service for dinner reservations, event tickets, gift delivery and more. You can also stack any PC Optimum points you regularly earn on the credit card with personalized offers from the PC Optimum app, in-store points offers or flyers.

Drawbacks

Purchases on certain items, like tobacco, lottery tickets and prescriptions at stores, do not earn you PC Optimum Points. Also, while you can earn points at Esso and Mobil gas stations, you cannot redeem points for free gas.

To qualify for the PC Financial World Elite Mastercard, you need a minimum annual income of $80,000 or $150,000 as a household, as well as a minimum spend of $15,000 annually. However, if you don’t meet those requirements, you will automatically be considered for the PC Financial World or entry-level PC Financial Mastercard with lesser income and still earn PC Points on everyday spending.

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If you shop local

Neo Card*

Making an effort to #supportlocal? That doesn’t mean you can’t earn competitive cash-back rewards. This no-fee card allows you to earn an average of 5% cash back when you spend at partnered retailers, including both local shops and bigger businesses, like Netflix, Spotify and Hudson’s Bay. A sampling of its partners can be found on the website, and you can see more partners when you use the app.

• Annual fee: $0
• Interest rates: purchases 19.99%, cash advances 22.99%
• Welcome bonus: New customers get $25 cash back after signing up and being approved for the card. Conditions apply.
• Earn rate: Earn an average of up to 5% cash back at Neo partners
• Additional benefits: Cash back can be redeemed instantly with no minimum threshold
• Income requirement: None specified

How it works

You rack up the equivalent of 5% cash back at local partner retailers, which you can view in the Neo Financial app. You can redeem your points instantly, and there’s no threshold to reach before you can redeem them.

Perks

This card doesn’t have an annual fee, over-limit nor inactivity fees. It also offers unique rewards from the businesses it partners with, which can mean perks like earning a free morning coffee at your local shop or getting 20% off a new yoga class.

Drawbacks

Depending on your spending habits, the cost of the cash back rewards maybe not be worth it for you. You’d have to do the math to decide the better deal, based on your spending habits.

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If you shop at Canadian Tire, Sport Chek and Mark’s 

Triangle Mastercard from Canadian Tire*

If you spend a lot on items for your home, car, sports equipment and more, you could collect Canadian Tire Money with those purchases. This card rewards you with CT Money while shopping at Canadian Tire and eligible stores. It’s worth noting that Canadian Tire Money has changed: it’s not the fun, Monopoly-style paper bills of an era gone by; CT Money racks up electronically now.

• Annual fee: $0
• Interest rates: purchases 19.99%, cash advances 22.99%, balance transfer 22.99%
• Welcome offer: n/a
• Earn rate: 4% in CT Money at affiliated stores
• Rewards on everything else: 1.5% on the first $12,000 spent on groceries per calendar year (excluding Costco and Walmart); 0.5% on everything else
• Income requirement: None specified
• Additional benefits: No-fee financing on qualifying purchases of $150 or more at affiliated retailers, no-receipt returns, personalized offers and member-only events

How it works

The Triangle Mastercard lets you rack up the equivalent of 4% cash back in CT Money when you spend at Canadian Tire, Sport Chek, Atmosphere, Hockey Experts, Sports Rousseau, L’Entrepôt du Hockey, Mark’s/L’Équipeur, Party City and participating and Sports Experts stores. Don’t forget, Canadian Tire offers auto services, so collecting (or redeeming) CT Money could be a silver lining to your next flat tire or oil change.

In terms of rewards systems, it couldn’t be simpler: $1 in Canadian Tire Money is equivalent to one redeemable dollar on Canadian Tire, Sport Chek, Atmosphere, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey and participating Mark’s/L’Équipeur and Sports Experts stores. You can use your CT Money by presenting your credit card to the cashier.

Perks

The Triangle Mastercard boasts no annual fee and also offers a no-receipt return policy at participating stores and exclusive savings events for members.

You can also take advantage of their no-fee, no-interest financing program on bigger purchases at Canadian Tire (and the aforementioned stores). Basically, when you spend $150 or more, you can split it into 24 equal monthly payments, as long as you pay your minimum balance due each month. It’s like layaway 2.0.

Drawbacks

The reward points are only applied to the price of the purchased items, meaning the 4% you’ll earn on purchases at Canadian Tire doesn’t include sales tax. 

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If you shop on Amazon

Amazon.ca Rewards Mastercard

If going to the mall isn’t your thing right now (totally understandable), the Amazon.ca Rewards Mastercard could be perfect for you. It lets you earn points to use towards discounts on your Amazon purchases (as well as for shopping at Whole Foods, grocery stores and restaurants).

• Annual fee: $0
• Interest rates: n/a
• Earn rate on Amazon and Whole Foods: 2.5% for Prime members and 1.5% for non-Prime Members
• Earn rate on everything else: 1% on Canadian purchases, and 2.5% on eligible foreign currency transactions to help cover foreign exchange fees if you’re a Prime member (otherwise it’s 1%)
• Income requirement: None specified

How it works

Amazon Prime members get 2.5% in Amazon points on purchases at Amazon.ca and Whole Foods Market stores. If you’re not a Prime member, you get 1.5% on eligible purchases at Amazon.ca and Whole Foods stores. You also get 1% on eligible purchases elsewhere.

The system is simple: Rewards are automatically loaded into your Amazon account once you’ve earned 2,000 points (equivalent to $20). You can then use those points to redeem for Amazon gift cards.

Perks

This card has no annual fee and also offers a great welcome bonus: You get 5% back at Amazon.ca, Whole Foods Stores, grocery stores and restaurants for six months after approval or on the first $3,000 in eligible purchases, maxing out at $150 in rewards.

Cardholders also get 2.5% back on eligible foreign currency transactions, which helps to cover foreign transaction fees. If you’re not a Prime member, you get 1% back on foreign currency transactions.

Drawbacks

Compared to cards with a large network of stores, this is really only worth it if you’re a dyed-in-the-wool Amazon shopper. Plus, the Prime membership isn’t complimentary—it’s $79 a year.

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If you shop at Walmart

Walmart Rewards World Mastercard*

If you love a good deal, you’re probably no stranger to the aisles of Walmart. Here’s how the Walmart Rewards World Mastercard can make those (already rolled-back) dollars go further for you. 

• Annual fee: $0
• Interest rates: purchases 19.89%, cash advance 22.97% (21.97% for residents of Quebec)
• Earn rate: earn 3% at Walmart.ca, 1.25% in-store in Canada, 1.25% at gas stations, 1% everywhere else
• Welcome offer: Earn a total of $25, including $15 welcome bonus and an additional $10 when you sign up for paperless statements
• Income requirement: $100,000 household

How it works

You’ll earn a hefty 3% when shopping online at Walmart.ca and 1.25% when shopping in-store at their brick-and-mortar locations. You’ll also get 1.25% when you fill up at any gas station (a definite plus if it’s not always feasible to gas up at the same chain). You’ll also earn 1% on purchases anywhere else.

Perks

This card starts paying off right away. You can start redeeming when you collect as little as $5 in rewards. It’s also very simple: $1 Walmart Dollar = $1 in discounts.

Drawbacks

This is another card you have to meet a minimum income requirement for ($100,000 annually as a household). If you don’t make the cut, you could still qualify for the entry-level Walmart Rewards Mastercard, but before you apply consider there are some better reward credit cards to use at Walmart.

At 3%, the Walmart Rewards World Mastercard also works best if you do a lot of online shopping at Walmart.ca. But if you prefer to shop in-person, again, there are better cards available that earn more rewards when spending at brick-and-mortar Walmart locations like the American Express SimplyCash Preferred or TD First Class Visa Infinite.

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If you shop at Costco

CIBC Costco Mastercard

The new CIBC Costco Mastercard is the replacement to the Costco Capital One card, but with a few key changes.

• Annual fee: $0
• Interest rates: Purchases 19.75%, cash advances, 21.49%, balance transfers 21.49%
• Earn rate: 3% cash back when you spend at restaurants and at Costco gas, 2% back at other gas stations and at Costco.ca, 1% on all other purchases (including Costco)
• Welcome offer: Get a $20 welcome bonus when you make a purchase with your card and apply for Register with the CIBC Mobile Banking App or CIBC Online Banking before December 31st, 2022.
• Income requirement: $15,000

How it works

This is a cash back card tailored to benefit people who shop at Costco. You’ll earn 3% cash back at restaurants and Costco gas stations, 2% cash back at other gas stations and 2% back when you shop at Costco.ca. For all your other purchase categories, you’ll earn 1% cash back (including at Costco). There’s no limit on how much cash back you can earn throughout the year, but the earn rate you receive does come with a cap. When you reach your annual spend in a certain category, you’ll will go back to the 1% rate for the remainder of the calendar year in that category. For gas, you will receive the 3% cash back rate (and 2% cash back rate at other gas stations) only on the first $5,000. After that, you’ll earn the 1% cash back rate. For Costco.ca purchases, the cap is $8,000 before you return to the 1% base rate. 

Perks

This card includes mobile device insurance, with up to $1,000 of repair or replacement coverage when you charge or finance the price of a mobile device on your card. With certain eligible purchases, you can also get security insurance and extended warranty insurance. 

Drawbacks

Even though there is no annual fee, you do have to have a Costco membership (which is upwards of $60 per year) to really get the benefits of this card. Also, the cash back redemption isn’t super flexible: CIBC Costco Mastercard gives it to you in the form of gift certificates, issued in January, that you can redeem for anything in the Costco warehouse.

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Honourable mention

Scotiabank GM Visa Infinite

While this isn’t technically a “store” credit card, the Scotiabank GM Visa Infinite credit card receives honourable mention, as it can help you save considerably if you’re shopping around for a new car from Chevrolet, Buick, GMC or Cadillac.

• Annual fee: $79
• Welcome offer: Earn up to 5% in GM Earnings for the first $10,000 spent on everyday purchases annually.
• Earn rate: Earn up to 5% in GM Earnings on your first $10,000 spent on everyday purchases; 2% in GM Earnings; $1 in GM Earnings = $1 off the price or lease payment of a new Chevrolet, Buick, GMC or Cadillac vehicle
• Income requirement: $60,000 or $100,000 household
• Additional benefits: Travel medical and trip interruption insurance and rental car insurance and discounts

How it works

You’ll earn 5% in GM Earnings on the first $10,000 in annual credit card purchases, and 2% thereafter.  The gist: $1 in GM Earnings is the equivalent of $1 off the purchase price or lease payments for any of the car brands listed above.

Perks

This card offers comprehensive travel insurance, including medical, trip interruption and rental car insurance, to name a few.

Drawbacks

Unlike the other cards mentioned in this article, this does have an annual fee of $79, but it is waived for the first year.

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More of Canada’s best credit cards:

• Best travel credit cards in Canada
• Best cash back credit cards in Canada
• Best low-interest credit cards in Canada
• Overall best credit cards in Canada
• Best travel insurance credit cards in Canada
• Best cash back credit cards in Canada