Discover the Best Credit Cards in Canada

Best Overall Rewards Credit Card

Credit cards offer cardholders travel points, cash back or low interest rates for making day-to-day purchases. However, some rewards programs stand out in the crowd with countless redemption options and more ways for cardholders to save money.

Our top picks feature flexible reward programs to help cardholders maximize the value of their daily spending. Additionally, extra perks and benefits provide users access to comprehensive travel insurance coverage, exclusive deals and, most importantly, high earn rates for everyday purchases like gas and groceries.

We compared the leading rewards credit cards using our Best of Finance methodology and ranked the cards with the highest first-year value, the most flexible rewards and robust benefits.

Winner: American Express Cobalt^® Credit Card

The American Express Cobalt^® Credit Card is one of the most reward-packed credit cards on the market. Cardholders pay a budget-friendly $12.99 monthly to access top-tier rewards and exclusive offers.

Earn five points for every $1 spent on eligible restaurant, grocery, and food delivery purchases in Canada (spending caps apply). Get three points for every $1 spent on eligible streaming subscriptions. Earn two points for every $1 spent on eligible travel and transit purchases. Get one point for every $1 spent on all other purchases. Cardholders should notice their reward balance growing steadily from their usual everyday purchases.

According to our Best of Finance methodology, the average Canadian would earn an impressive $1,361 in rewards in the first year.

Many other cards offer higher first-year values due to their welcome bonuses, but the Cobalt^® offers high recurring rewards. This means that in your second year of holding the card (after fees), you could earn $999 in rewards. Our analysis shows the Cobalt^® card offers the most versatile points of any other card, so these are points you actually look forward to collecting and redeeming.

Best Overall Travel Credit Card

Travel is back, and people are making up for lost time by experiencing great food and culture in new locales. It's never too late to start collecting travel points for your next sojourn. Travel points are added when you make everyday purchases on a travel credit card and can be redeemed for flights, hotel stays and vacation packages.
 

Travel cards also feature great additional perks, like shopping coverage, mobile device insurance and exclusive offers.

We compared the top travel credit cards using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: RBC Avion® Visa Infinite Card

Of all the credit cards participating in the Avion program, the RBC Avion® Visa Infinite Card is the most popular with Canadian consumers.

You can get up to 35,000 Avion points*, a travel value of up to $750†. If one Avion point converts to about two cents, you’d need to spend $2,000 on the card for 14 months to get that many points. With this bonus offer, you only need to only need to spend $5,000 within the first six months to be awarded the points.

As for the regular earn rate, you can:

• Get 1.25 Avion points for every $1 spent on travel.
• 1 Avion point for every $1 spent on anything else.

You can choose to redeem your Avion points for merchandise, charitable donations, or put it towards paying your card balance. You can even use your points towards a mortgage payment, if you have one with RBC. 

However, Avion points have the highest redemption rates when put towards travel expenses. Avion points can be worth up to 2.33 cents per point, according to RBC's Air Travel Redemption Schedule. Conversion rates for other purchases varies from 0.75 cents to 1 cent.

According to our Best of Finance methodology, the average Canadian would earn around $1,144 in rewards in the first year.

Back to top

Best Credit Card With No Foreign Transaction Fees

Retailers around the globe are increasingly pivoting to cashless payments meaning travellers can forgo the foreign currency exchange line and pack a smaller wallet for their next trip. These credit cards offer no foreign transaction fees on purchases, sparing cardholders the extra 1.5% to 3% providers typically charge. Only the exchange rate applies.

Cardholders also get the added convenience of tracking all their transactions, from little trips to the grocery store to tours and excursions, all in one place. Plus, travellers won’t get stuck with extra foreign coins and bills at the end of their trip.

These credit cards also feature various benefits and travel insurance to help make trips more comfortable and carefree. Spend points on flights, rental cars, hotel stays or merchandise and get the most out of your next adventure.

We compared the top credit cards with no foreign transaction fees using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: Scotiabank^®* Gold American Express^®Card

The Scotiabank®* Gold American Express® Card offers a great return on spending. Earn five Scotia Scene+ points for every $1 spent on groceries, restaurants, food delivery and entertainment purchases. Get three Scotia Scene+ points for every $1 spent on gas, daily transit purchases and select streaming services and earn one Scotia Scene+ point for every $1 spent everywhere else.

Cardholders pay no foreign transaction fees on foreign currency purchases, typically around 2.5%. Only the exchange rate applies. Plus, the card allows users to access discounts through the Scotia Rewards Travel Service and purchase a wide range of travel insurance.

According to our Best of Finance methodology, the average Canadian would earn around $1,024 in rewards in the first year.

Want to learn more about how the Scotiabank^®* Gold American Express^®Card stands up against the competition? Read more from our "In the Ring" series:

In the Ring: American Express Cobalt Credit Card vs. Scotiabank Gold American Express Card

Back to top

Best Credit Card for Earning Travel Points

Travel programs typically offer the best redemption value of all the rewards credit cards. Whether they offer rewards, points or miles, these cards will always provide more value than cash back cards. However, cardholders get the best value for their rewards when redeeming for travel rather than gift cards or statement credits (but it's nice to have the option).

Most programs allow members to redeem rewards for flights, vacation packages, upgrades and other travel savings. Some programs also allow point conversions to other popular travel programs. Additionally, many of our top picks feature insurance coverage and exclusive offers like lounge access or benefits at hotels and resorts.

We compared the best credit cards with travel points using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: American Express Cobalt^® Credit Card

The American Express Cobalt^® Credit Card is one of the best cards for amassing rewards, offering cardholders five points for every $1 spent on restaurants and food deliveries, three points for every $1 spent on eligible streaming subscriptions, two points for every $1 spent on eligible travel and transit and one point for every $1 spent anywhere else.

Not only that, but the Membership Rewards^® program is incredibly flexible, allowing members to redeem points for anything — travel, merchandise and more. Eligible cards, including the American Express Cobalt^® Credit Card, can access the Fixed Points Travel Program and American Express Travel Online for travel offers and special rates. Cardholders can even use Membership Rewards^® to pay taxes, fees, and carrier surcharges.

According to our Best of Finance methodology, the average Canadian could earn around $1,257 in rewards in the first year.

Want to learn more about how the American Express Cobalt^® Credit Card stands up against the competition? Read more from our "In the Ring" series:

In the Ring: American Express Cobalt Credit Card vs. Scotiabank Gold American Express Card

Back to top

Best Balance Transfer Credit Card

Carrying a balance will cost you dearly if you carry it long enough. It's time to pay off your high-interest credit card debt.

Cardholders with outstanding debt can transfer their existing balance to another card with a balance transfer promotion to take advantage of lower interest rates.

Some introductory rates can be as low as 0% for a set time, anywhere from a few months to a year. Conditions apply, however. New purchases typically incur standard interest rates. Misusing the card (missing payments, for example) may void the introductory offer altogether.

Cardholders must typically pay a balance transfer fee of around 1% for the service. However, the cost is generally less than the interest charges on a standard credit card with a 20.99% interest rate. If used responsibly, cardholders can focus on payments and reduce debt faster.

We compared balance transfer rates in Canada using our Best of Finance methodology and ranked the cards that provided the most savings.

Winner: MBNA True Line^® Mastercard^®

With the True Line® Mastercard®, you'll pay 0% interest on balance transfers for 12 months, plus a 3% fee to transfer. It goes up to 12.99% after the first year. This is simply the best balance transfer offer on the market.
 

Back to top

Best Low-Interest Credit Card

The best way to avoid paying costly interest charges is to pay off your credit card balance in full each statement period. However, that isn't always possible. Sometimes, you may carry a balance month-over-month even if you're aggressively paying off debt. In that case, interest would start to accrue on the unpaid balance at an annualized rate that compounds daily.

Most credit cards charge a standard annual interest rate of around 20.99% on purchases, which can add up quickly.

Although some credit cards' welcome offers and perks can be enticing, the mounting interest charges can outweigh any advantages if you carry a balance. Switching to a low-interest credit card may allow cardholders to tackle their debt faster and pay less interest. This decision can put cardholders in a healthier financial position for the future.

We compared low-interest credit cards in Canada using our Best of Finance methodology and ranked the cards that provided the most potential savings.

Winner: Scotiabank^®* Platinum American Express^® Card

The Scotiabank®* Platinum American Express® Card has a 9.99% annual interest rate (many credit cards charge between 19.99% to 21.99%). This interest rate extends to cash advances (typically 24%) and balance transfers. It also doesn't charge foreign exchange fees, making it a great card for anyone looking to trim costs. On top of that, cardholders can also earn valuable Scotia Scene+ Points on all their purchases.

We’ve estimated that new card holders can earn over $1,000 in rewards value within the first year: $200 from savings on interest and $880 in bankable Scene+ Points.

Frequent card swipers who know how to use credit responsibly will get the best value from this card, as the annual fee is $399.

Back to top

Best Overall Cash Back Credit Card

Cash back credit cards are straightforward: cardholders earn a small percentage of each purchase back in rewards. Still, there are differences between the two types of cash back cards:

• Category cash back: This type of card rewards the user for shopping in specific spending categories like gas or groceries at an accelerated rate — for example, 4% cash back for some purchases and 1% back on everything else. Routine shoppers can maximize their rewards with a category card.
• Flat-rate cash back: This card rewards the user for all their purchases, no matter the category, at one rate. For example, earn 1.25% cash back on everything you buy. Cardholders who shop broadly may benefit the most from this type of card.

Cashback is usually applied as a statement credit every month or once per year on a specific date. It can also be deposited directly into a savings account.

We compared the top cash back credit cards using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: CIBC Dividend® Visa Infinite*

The CIBC Dividend® Visa Infinite* card is packed with great perks. You can earn 10% cash back on your purchases for the first four statements, up to $2,000 in total spending.

The card offers excellent value in the first year, worth up to $832 if you spend $2,000 a month, including a $250 welcome bonus. While there’s a $120 annual fee, it will be rebated after first anniversary as a cardholder. You can also get up to three extra cards for $30 each, with their first-year fee waived too.

The cash back rates are simple and rewarding—4% for gas, EV charging, and groceries, 2% for transport, dining, and recurring bills, and 1% for everything else. Once your cash back balance reaches $25, you can redeem it whenever you want as a statement credit.

The card also comes with useful insurance, like coverage for your mobile device, emergency medical travel, purchases, and auto rental accidents. It even provides $500,000 accident insurance when traveling by public transport like planes or buses. Plus, the CIBC Pace It™ program lets you divide big purchases into smaller, manageable payments.

Overall, it’s a flexible card with great rewards for everyday spending.

Back to top

Best No-Fee Cash Back Credit Card

Just because a card doesn’t charge an annual fee doesn’t mean it skimps on rewards. Many no-fee credit cards offer hundreds of dollars in cash back for making everyday purchases and feature additional benefits like shopping coverage or exclusive offers.

Winner: Rogers Red World Elite® Mastercard®

If you’re a Rogers, Fido, or Shaw customer, using the Rogers Red World Elite® Mastercard® could earn you great rewards. It offers an impressive first-year value of $480 for current customers, which is considerably higher than the next-best no-fee cashback card.  With this card, you get 2% cash back on all eligible purchases and 1.5x more cash back when you redeem for purchases with Rogers, Fido, or Shaw. It’s also a great choice if you often travel to the U.S. or shop online from U.S. stores, as you’ll earn 3% cash back on U.S. purchases.

If you’re not already a customer of those telecoms, you’ll still earn 1.5% unlimited cash back on eligible purchases made in Canadian dollars. Keep in mind that our first-year rewards calculation is based on earn rates for Rogers customers.

The card also provides useful travel perks, such as five free Roam Like Home days each year for Rogers mobile customers (up to $75 in value), a free membership to Mastercard Travel Pass by DragonPass, which gives access to over 1,300 airport lounges globally (lounge visits cost USD $32 per person).

On top of that, it includes helpful insurance benefits like extended warranty and purchase protection, rental car collision and damage coverage, emergency medical insurance, trip cancellation, and trip interruption insurance. It’s a great card to maximize both everyday spending and travel perks.

Back to top

Best No-Fee Travel Credit Card

Find the best top travel rewards programs with these no-fee cards. While they feature slightly lower earn rates than their counterparts with a fee, they still provide excellent value and great perks.

Plus, these cards can slide into your wallet as a primary or secondary credit card, and you don’t have to worry about another annual expense. You can use the card as often or sparingly as you like without having to justify its worth.

We compared the top no-fee travel credit cards using our Best of Finance methodology and ranked the cards that provided the highest value while considering additional complimentary travel perks and benefits.

Winner: American Express® Green Card

The American Express® Green Card is a rewarding choice for both everyday spending and travel. In the first year, you can earn $595 in rewards, and $420 in the years after. You get one Membership Point® for every dollar you spend, and every 1,000 points equals a $10 statement credit.

When it comes to travel, your points can cover the base rate of a round-trip ticket, which is the cost before taxes and fees. You can use points for economy or business class seats, with a fixed number of points needed for redemption. For example, short-haul economy flights within Canada or to nearby U.S. destinations start at 15,000 points, and flights to Europe start at 60,000 points. Business class tickets require more points.

The American Express® Green Card also offers flexibility with how you use your points. With the Flexible Points Travel Program, you can use points to cover fees, taxes, and surcharges not included in the base ticket price. Additionally, you can redeem points for hotels, car rentals, and vacation packages. You can also transfer points to participating airline and hotel rewards programs at a 1-to-1 exchange rate, including Air Canada’s Aeroplan program. This flexibility makes it a great option for maximizing rewards and travel perks.

Back to top

Best Secured Credit Card for Building Credit

It can be challenging to get approved for credit, particularly if you have little or no credit history. But to build a credit history, you often need access to credit. So, what's a person to do?

A secured credit card is an excellent first step. This handy little product can benefit those new to credit or need to improve their credit, and it works much like a standard credit card. Cardholders can usually pay bills, purchase items in-store and online, and access a credit limit. However, the credit limit is determined by a deposit set by the cardholder and is secured on the card.

The cardholder is responsible for paying their statement each month and will also owe interest if they carry a balance. With each payment made on time, the positive information is reported to the credit bureaus in Canada and should slowly build or increase the cardholder's credit score.

Over time, the cardholder may qualify for unsecured products and should be able to get their initial deposit back.

We compared secured credit cards in Canada using our Best of Finance methodology and ranked the cards that provided the highest value. However, in this case, we felt that annual rewards and savings were not the most important benefits. Cardholders would get the best value from a no-fee card that focused strictly on building credit.

Winner: Neo Secured Mastercard

The Neo Secured Mastercard makes the journey of rebuilding your credit score a lot more enjoyable with unique cash back perks.

This Neo card has a cash back at a rate of 1% on gas and grocery purchases. But here's the twist: you can increase your cashback rate by opening a chequing account with Neo.

The balance in your Neo Everyday account then influences the cashback rates you earn on your secured Neo Mastercard. The higher your balance, the better your cashback rates can be

The scenario Neo uses as an example is based on a person with a balance of $3,000 on their account. They would earn 2% cashback on gas and groceries, and an additional 0.5% cashback on all other purchases.

Beyond keeping an ample chequing account balance, you can maximize rewards by using the card on spend categories that offer the highest cashback rates, such as gas and groceries. Making purchases on the card at retailers that are part of the Neo network will also amplify your earnings.

You can use the Neo Secured Mastercard anywhere credit cards are accepted. Card fees are $5 a month or $60 annually. There’s also no credit check and you’re guaranteed approval.

Back to top

Best Student Credit Card

Students are often overloaded with expenses and costly fees throughout their post-secondary education. Tuition? Expensive. Student housing? Expensive, too. Textbooks? Not to mention the cost of smartphones and the mile-long list of program requirements like laptops, plus cost-of-living expenses like groceries or transportation.

We compared the leading student credit cards using our Best of Finance methodology and ranked the cards that provided the highest value.

Winner: CIBC Aventura® Visa* Card for Students

The CIBC Aventura® Visa* Card for Students is an excellent choice for student travelers, offering a range of benefits to make life easier and more rewarding.

With no annual fee, it’s budget-friendly, and students can earn Aventura Points on every purchase. These points can be redeemed for flights, hotels, car rentals, and more, with the added perk of covering taxes and fees on flights.

Plus, the points never expire, so you can save them for your dream trip. The card also comes with a generous welcome bonus of up to 10,000 Aventura Points (worth up to $100 in travel) and decent credit limits — up to $5,000 for Canadian students and $2,000 for international students.

Beyond travel rewards, the card includes valuable extras like auto rental collision insurance, purchase protection, and extended warranties. Students can save on fuel with up to 10 cents off per litre at participating gas stations and enjoy a free 12-month Skip+ membership for $0 delivery fees and exclusive offers. A free SPC+ membership adds even more value, offering up to 30% off at over 450 brands.

Back to top

Best Family Credit Card for Gas and Groceries

The right credit card can benefit the entire family. Whether it’s earning groceries at your favourite store or redeeming rewards for streaming services, top credit cards can save you money where you least expect it.

We compared the leading credit cards for grocery and gas purchases using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: PC® World Elite Mastercard^®

This card promises to feed, clothe, and shuttle your family from school to hockey practice.

The President’s Choice Financial^®World Elite Mastercard^® is a multitasking workhorse that’s ideal for families who rely on Loblaws-affiliated stores for essentials. And with the card’s gas rewards, the earnings are even better if you fuel up weekly.

You can begin redeeming PC Optimum points once your balance reaches 10,000 points, equivalent to $10, and it’s very easy to rack up points quickly. Here’s how the earn rate breaks down:

• Earn 40 points per $1 at Loblaw® banner grocery stores
• Earn 50 points per $1 at Shoppers Drug Mart® stores
• Earn 40 points per $1 at Joe Fresh® stores and online
• Earn 10 points per $15 everywhere else

A family that spends $350 per week on groceries will have earned more than $50 in PC Optimum points by the end of the month. That’s not even counting the points you’ll get from fuelling up: 50 points per litre (equal to five cents) and an extra 20 points per litre (two cents) when you buy 150 litres or more of gas in a calendar month.

At the same time, the PC® World Elite Mastercard®   can help free up your time spent on chores with complimentary, unlimited grocery delivery through PC Express for any orders over $35 so you can spend more time with family (or tackle other chores). Loblaws promises in-store prices and promos, well-picked produce or your money back, and plenty of delivery timeslots. Naturally, you’ll still earn PC Optimum points when you use your card to pay for groceries.

PC Financial says this card delivers $1,100 in average value annually to active users of the card.  It does have a $120 annual fee – which is waived the first year – but if you use the PC Financial World Elite for a good portion of your purchases, you can easily earn enough points to pay the fee in the first few months of the year.

Back to top

Best Credit Card for Subscriptions

It seems like every day more and more services are becoming subscription-based. So, if you don't have a rewards card that's specifically designed for online subscriptions and other expenses, you may be losing out on rewards or cash back.

Luckily, our top picks reward cardholders for their subscriptions as well as takeout and delivery purchases while offering some great perks for maintaining your favourite subscriptions.

We compared the best credit cards for delivery and takeout purchases using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: Scotiabank^®* Gold American Express^® Card

The Scotiabank®* Gold American Express® Card rewards cardholders for everyday purchases, from takeout and delivery to streaming services.

Get five Scotia Scene+ points for every $1 spent on eligible groceries, takeout, food subscription boxes, and entertainment purchases. Earn three Scotia Scene+ points for every $1 spent on gas, transit and select streaming services like Netflix. And finally, get one Scotia Scene+ point for every $1 spent on all other purchases.

Rack up rewards quickly and redeem them for thousands of options, including travel, merchandise, gift cards and statement credits. Plus, pay no foreign transaction fees on purchases made abroad or online in foreign currency. Only the exchange rate applies.

According to our Best of Finance methodology, the average Canadian would earn around $1,024 in rewards in the first year.

Want to learn more about how the Scotiabank^®* Gold American Express^®Card stands up against the competition? Read more from our "In the Ring" series:

In the Ring: American Express Cobalt Credit Card vs. Scotiabank Gold American Express Card

Back to top

Best Credit Card for Young Professionals

Young professionals are tech-savvy, ambitious, and looking to make their mark on the world — working hard during the day and spending as much time as they can with friends in the evenings.

Our top picks for credit cards for this segment are designed to reward young people who are trying to do it all. They offer cashback and points for everyday purchases; trips to the store, rideshares to meetings and interviews, takeout, and even binge-watching movies or TV shows on Netflix.

We compared the best credit cards for young professionals using our Best of Finance methodology and ranked the cards that provided the highest first-year value.

Winner: BMO eclipse Visa Infinite Card*

The BMO eclipse Visa Infinite Card* falls into the 'lifestyle' credit card category. Cards like this offer point-earning opportunities on everyday expenses that you can then redeem on little luxuries as well as bigger ones like travel.

You won't need to wait long to buy yourself a little treat with points earned on the BMO eclipse Visa Infinite Card*. The sign-up bonus awards you 60,000 points after you meet the required spending amount. That’s enough for:

• A dinner for two at a fancy restaurant (with 24,000 points left over)
• Five months' worth of gym membership fees
• Four spa days
• Or 28 lattes, if that's your favourite splurge item

But the benefits don’t stop after the promotional earn rate ends. Here’s how the normal earn rate breaks down:

• 5 points for every $1 spent on groceries, dining in and out, gas, and transit
• 1 point for every $1 spent on everything else
• Get up to 7 cents off per litre on Shell® fuel as an exclusive benefit for BMO card holders.
• 10% more points on all purchases when you add an authorized user to your account.

Plus, you get a $50 statement credit on the anniversary of your account opening. Enough to buy the first round (and possibly even the second).

Best Prepaid Card

This type of card is popular among consumers trying to restrict their credit usage. Prepaid credit cards are backed by a pre-existing balance, which you supply by loading your money onto the credit card before you can use it. The user doesn’t assume any debt following the transaction, and the purchase is not subject to any interest charge. The user also earns points for every transaction and gets an opportunity to build a credit history while earning other benefits unique to the card.

Winner: KOHO Essential Mastercard® Prepaid Card

The KOHO Essential Mastercard® Prepaid Card is a rare prepaid credit card that lets you earn cashback rewards (0.5% on all purchases) for no annual fee. You can also earn 5% cash back on select KOHO-partnered merchants like food, drinks, and merchandise. This card also offers its users the advantage of a low foreign exchange fee (1.5%).  The KOHO Prepaid Mastercard^® is widely considered a good tool for consumers to develop strong financial habits. It even offers a low-fee option to help the cardholder build their credit score. According to our Best of Finance methodology, the average Canadian would earn around $120 in cash back rewards annually.

Back to top

Best Credit Card for Newcomers to Canada 

Settling in a new country can be exciting but challenging. Canadian banks have some of the most lucrative offers for newcomers and immigrants are always on the lookout for deals to save the last dollar. What better than finding the right credit card for your financial needs that helps you save while meeting all your needs? Here's our pick for the best credit card for newcomers to Canada in 2025.

Winner: BMO CashBack® Mastercard®

The BMO CashBack Mastercard®* is our pick for the best card for newcomers because of its generous welcome offer: 5% cash back in your first three months. Newcomers can also get a 0.99% introductory interest rate on balance transfers for nine months (a 2% fee applies to balance amounts transferred). Cardholders also get 3% cash back on grocery purchases, 1% cash back on recurring bill payments and 0.5% unlimited cash back on all other purchases.

There is no annual fee, and newcomers can enjoy the most cash back on groceries in Canada without paying an annual fee. Per our Best of Finance methodology, newcomers get $388 in first-year value.

Learn more: Best Credit Card for Newcomers to Canada

Back to top

Best Overall Mastercard

Mastercard offers you one of the largest payment networks in the world, allowing you to make payments easily wherever you go. When you use a Mastercard credit card, you are protected from any unauthorized transactions through Mastercard’s Zero Liability coverage. Here’s our top pick for the best Mastercard of 2025.

Winner: MBNA Rewards World Elite® Mastercard®

The MBNA Rewards World Elite® Mastercard® offers you five points for every $1 spent on groceries, restaurants, digital media and utilities. Best of all, you can earn one point on every $1 spent on everything else. This card also comes with great insurance perks such as a unique annual birthday bonus, mobile insurance and rental car discounts. According to our Best of Finance methodology, you can earn up to $924 in rewards in the first year. This makes the MBNA Rewards World Elite® Mastercard® the most rewarding card in the Mastercard network.

Learn more: Best Mastercard Credit Cards

Back to top

Best Overall Visa Card

Visa credit cards are hugely popular as they are widely accepted in more than 200 countries and territories. Visa credit cards offer a secure and convenient way to pay for what you need anywhere and anytime. Visa’s Zero Liability policy protects you from any fraudulent transactions. We’ve analyzed the top Visa credit cards in Canada to find the best pick.

Winner: CIBC Aventura® Visa Infinite Card

The CIBC Aventura^® Visa Infinite^* Card card is a great travel rewards card that allows you to quickly rack up points due to a generous welcome bonus and points program. It offers good earning rates across various categories and flexible redemption on points.

The CIBC Aventura® Visa Infinite card also offers a very generous welcome bonus in the first three months of having the card, which, if you played your cards right, could add up to $900 you could put towards travel. It is the maximum redemption value for 45,000 Aventura Points on a long-haul economy-class airfare purchase.

Card users will also receive one statement credit up to a maximum value of $100 CAD when NEXUS application fee is charged to an eligible card, regardless of NEXUS application approval. Other perks include lots of additional travel perks and benefits including Mobile insurance and NEXUS rebate. 

According to ourBest of Finance methodology, you can earn up to $1,536 in rewards in the first year, making this the best Visa credit card in Canada.

Learn more: Best Visa Credit Cards

Back to top

Best Overall American Express Card

American Express is known to be a high-end credit card brand offering elite rewards and lucrative perks to users.

Winner: American Express Cobalt® Card

The American Express Cobalt® Credit Card is one of the best credit cards on the Canadian market.

You earn five points at coffee shops, bars, restaurants, grocery stores, and even food delivery services. Paying for select streaming subscriptions on the card earns three points and every dollar spent on public transport, taxis, rideshare, and gas earns two points.

As a cardholder, you'll also access exclusive benefits for members of the American Express Cobalt® Credit Card, like concert pre-sales. Based on our Best of Finance methodology, the average Canadian will earn an astonishing $1,257 in rewards for the first year. That is a staggering return for such a reasonably priced card. Once you have your points, you can redeem them for almost anything — even on Amazon purchases.

Learn more: Best Overall American Express Card

Back to top

Best Overall Aeroplan^® Credit Card

Aeroplan credit cards are a great saving hack for frequent travellers. You can earn great annual rewards value and travel perks with an Aeroplan credit card if you are on the go most of the time. Here are the best Aeroplan credit cards you can find in Canada:

Winner: TD Aeroplan® Visa Infinite

With the TD® Aeroplan® Visa Infinite* Card, you can earn up to $1,300 in value, including up to 40,000 Aeroplan points. There are many more features and more make it the best Aeroplan credit card available in Canada. With this card, you can enjoy travelling lightly through the airport and saving on baggage fees (check your first bag for free!). Users can also enroll in NEXUS and, once every 48 months, get an application fee rebate of up to $100.

Your Aeroplan points will not expire for as long as you are a TD® Aeroplan® Visa Infinite Primary Cardholder in good standing. You can earn 1.5 points for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®) made with your card. Earn 1 point for every $1 spent on all other Purchases made with your card. You can earn 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account.

According to our Best of Finance methodology, the card offers a first-year value of $1,370.

Learn more: Best Overall Aeroplan Credit Card

Back to top

Top credit cards picks from leading credit card providers in Canada

Credit card providers are financial institutions, like banks or credit unions, that work with credit card networks to issue credit cards to consumers. Some examples of such providers would include Scotiabank, Tangerine and Home Trust. Each provider offers unique card options, and the one you pick depends on your personal financial needs, such as annual credit card fee preferences and rewards preferences.

We have narrowed down the best credit cards from Canada’s leading providers. Compare our top picks to see which features match your needs.

 

Top credit cards picks from leading credit card networks

Credit card networks process credit card transactions between merchants and issuers. For example, when you use a Mastercard credit card to pay for a new T-shirt at a store, your network, in this case, Mastercard, provides the infrastructure to collect the funds and transfer them to the store merchant.

The most popular credit card networks in Canada are Visa, Mastercard and American Express. Credit cards from these networks are globally accepted, but it is important to note that not all merchants in Canada accept American Express cards, although their acceptance rate has improved. Most American Express card holders also have another credit card from Visa or Mastercard for this reason.

Here are our top picks for credit cards from every network.

 

Pros and cons of credit cards in Canada

With Canadian credit cards, the benefits you receive depend on the type of credit card you choose.

Here are some of the most common features and benefits of Canadian credit cards.

 

1. Rewards: Most top Canadian rewards credit cards can give you hundreds of dollars in rewards and, in some cases, thousands of dollars in cash back or points to trade for cash equivalent rebates on purchases. More credit card providers are now coming out with flexible rewards that you can use to pay down your credit card bill (like a cash back card) or use the points to trade for gift cards, merchandise, flights, and hotel stays.
   
    
2. Credit building: Having a credit card and using it responsibly is an excellent way to build your credit history and increase your credit score. Credit bureaus like TransUnion and Equifax need at least six months of data to assign you a credit score. Building a long history of responsible credit use will help your credit score.
   
    
3. Perks and insurance: Credit cards frequently come with perks and benefits. Here are some of the best credit card perks in Canada.
   • Roadside assistance: Basic CAA membership costs $75 annually, but some credit cards include roadside assistance as a perk.
      
   • Companion flights: Some travel credit cards enable you to earn discounted flights for a second passenger when you buy the primary ticket with your credit card.
      
   • Lounge access: Some credit cards offer complimentary lounge access for free, letting you enjoy exclusive airport lounges when you waiting for your flight. Usually, such lounge passes cost $100 or more annually if you decide to buy them separately.
      
   • Front-of-the-line service: Credit cards can come with exclusive memberships that allow you to access events before they open to the general public. Visa and AMEX memberships provide such front-of-the-line services to their customers, granting you access to get the tickets before the general public.
      
   • Concierge service: With a credit card with concierge service, you can call and have a customer service agent help you make travel arrangements, reservations, and booking events.
      
   • Convenient currency conversion: Some top travel credit cards do currency conversions at no fee so you can access a great exchange rate when making payments in foreign currency while travelling or online shopping.
      
   • Convenience: When you use a credit card, you enjoy the flexibility of going cashless and the convenience of making payments easily online and in-store. Credit cards allow you to easily make purchases during trips, without having to worry about carrying foreign currency.
      
   • Security: Making payments with a credit card helps you avoid losing money if you become a victim to fraud or theft. For example, with cash, you instantly lose money. In the case of a credit card, you can immediately notify your credit card provider and restore your lost credit amount. Most importantly, credit card networks such as, Visa and Mastercard provide zero liability coverage for all unauthorized purchases, adding an additional layer of security to your credit card.
      

We can’t talk about the features and benefits of credit cards without touching on the downsides. Here are some pitfalls of using credit cards and some suggestions on how to avoid them.

 

1. Overspending: Just because you have a credit limit doesn’t mean you have to spend all of it. Having a large credit limit is nice, but maxing out your card is a bad idea. Frequently using more than 30% of your allotted credit will bring your credit score down if you miss your credit card payments and continue to carry a high balance month-to-month. The basic idea is not to spend outside your means and pay off your credit card balance responsibly.
   
   
    
2. High interest rates: If you track your spending and pay the full balance every month, you probably won’t have any issues with interest rates. But for those who find it hard to rein in their spending, high interest rates on credit cards are one of the most expensive ways to borrow money in the long run. When you carry a balance on your credit card from month to month, interest charges will continue to pile on the balance, making it harder for you to pay it off.
   
    
3. Transactional fees: Many people pay an annual fee to get a card that earns them more points faster, and this usually helps them offset the annual fee cost. Some just opt for a no annual fee credit card. But other credit card fees for services such as cash advances (using your card at an ATM) and overdrafts can easily add up, depending on how you use your card.

RATESDOTCA may receive compensation when you click links to those products or services. However, our content and calculations are objective and free from bias. The opinions expressed are purely those of RATESDOTCA; thus, partners are not responsible for any editorials or reviews that may appear. For current terms and conditions on any advertiser or partner’s product, please visit their website.