icon

Mastercard Credit Cards

Take advantage of great Mastercard credit card offers today.

Select your priority

Select your rewards preference

Select your annual fees

Mastercard

Mastercard is a credit card processing network with its HQ located in New York, United States. Mastercard partners with financial institutions in Canada, allowing them to issue credit cards that are processed on the Mastercard network. Using a Mastercard credit card allows you to pay for your purchases in a convenient and smart way. See the best Mastercard credit cards available in Canada and find the perfect one for all your spending needs.

Mastercard credit cards are offered by a large number of Canadian financial institutions and can include a wide variety of options for you to choose from, including student credit cards and lucrative rewards credit cards.

Mastercard credit cards fall under the following categories:

  • Standard Mastercard: Basic tier credit cards such as a student credit card or a no fee credit card.
  • World Mastercard: Rewards credit cards such as a cash back credit card.
  • World Elite Mastercard: Top tier rewards credit cards such as a travel rewards credit card with added travel perks such as insurance etc.

Using a Mastercard credit card allows you to access a large payment network, with tons of merchants who will happily accept your Mastercard. Similar to Visa, the Mastercard network is widespread around the globe. If you’re traveling with your Mastercard credit card, you can be rest assured that your card will be accepted at most retailers and vendors.

The Best of Finance Winners for 2022: Best Overall Mastercard

Mastercard credit cards are widely accepted by most retailers around the world, including Costco, making them a popular choice for many Canadians. Mastercard partners with many Canadian financial institutions, offering you a wide range of credit cards including cash back credit cards and travel credit cards. We’ve picked the top Mastercard credit cards in Canada using our Best of Finance methodology and ranked the ones that provide the highest first-year value. Here are our picks.

  First year value* Credit score required Great features
$924 Good Earn 5 points for every $1 spent on groceries, restaurants, digital media and utility bills.
$745 Excellent Earn cash back rewards in a variety of categories. Includes lounge access and travel insurance: rare travel perks for a cashback card.
$409 Fair Customize your accelerated cash back categories to maximize your rewards. No annual fee.

Winner: MBNA Rewards World Elite® Mastercard®

The MBNA Rewards World Elite® Mastercard® is our winner for the best Mastercard in Canada. It offers five points for every $1 spent on groceries, restaurants, streaming services, and utilities. Earn one point for every $1 spent on everything else. You also get great insurance perks, such as mobile device insurance and travel accident insurance.

According to our Best of Finance Methodology, you can earn up to $924 during the first year of using this card.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$300
+ Annual rewards
$744
- Annual fee
$120
Total first year value
$924
MBNA Rewards World Elite® Mastercard®

card image
Welcome bonus
$300
MBNA Rewards points
Annual rewards
$744
MBNA Rewards points
Annual fees:
$120
Interest rates:
19.99% on purchases • 24.99% on cash advances
2022 Winner – Best Overall Mastercard
Includes a great insurance package and unique benefits
Details at a glance Collapse details
Welcome bonus
$300
Annual rewards
$744
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$300
+ Annual rewards
$744
- Annual fee
$120
Total first year value
$924
Annual fees:
$120
Interest rates:
19.99% on purchases
24.99% on cash advances
2022 Winner – Best Overall Mastercard
Includes a great insurance package and unique benefits
Details at a glance Collapse details

Annual fee 

$120

Welcome bonus

Receive up to 30,000 MBNA Rewards bonus points:

  • 20,000 bonus points†† ($200 in travel value or $165 cash back value) after you make $2,000 or more in eligible purchases within the first 90 days of your account opening.
  • 10,000 bonus points†† ($100 in travel value or $80 cash back value) once enrolled for paperless e-statements within the first 90 days of account opening.

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Offer expiry date: Ongoing offer

Rewards

Earn 5 points for every $1 spent on:

  • Groceries
  • Restaurants
  • Memberships and digital media
  • Household utilities

Earn 1 point for every $1 spent on:

  • All other eligible purchases

Earning potential

How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.

Rewards earned over a 12-month period + Welcome Bonus = $744 + $300 = $1,044
Annual fee = $120
Total earned over a 12-month period (rewards minus annual fee) = $924

Benefits

  • Annual Birthday Bonus Points equal to 10% of the total number of Points earned in the 12 months before the month of your birthday (maximum 15,000 Points)
  • Save with Avis Rent A Car and Budget Rent A Car

Insurance

  • Mobile device insurance - $1,000
  • Extended warranty - 1 year
  • Purchase protection - 90 days
  • Travel accident - $1,000,000
  • Unexpected return home - $2,000
  • Rental car insurance
  • Rental car accident - $200,000
  • Price protection - 60 days

Runners-up: Best Overall Mastercard

BMO CashBack World Elite* Mastercard*

With the BMO CashBack World Elite* Mastercard*, you can earn 5% cash back on groceries, 4% cash back on transit (which includes ride sharing, taxis, and public transportation), and 3% cash back when you fuel up at gas stations. The cash back rewards and welcome bonus can earn you up to $745 in your wallet according to our Best of Finance methodology.

Additional benefits include a complimentary roadside assistance program, discounts on select car rental, as well as travel and medical protection.

Annual fee

$120

Limited time offer/bonus

  • Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.*

Offer expiry date: December 6, 2022

Rewards

With this card, you can earn the following:

  • 5% cash back on groceries
  • 4% cash back from transit
  • 3% cash back when you spend on fuel
  • 2% cash back from recurring bills charged to the card
  • 1% cash back from all other eligible purchases

Tangerine World Mastercard®

The Tangerine World Mastercard® is a unique card that offers cardmembers the option to choose the categories that can reward them the most. Earn 2% Money-Back Rewards in up to three categories of your choice and 0.50% back on everything else. You also get additional perks, including Mastercard Airport Experiences, rental car collision insurance, and even mobile device insurance.

According to our Best of Finance methodology, the average Canadian can save an additional $409 over the first 12 months with this credit card.

Annual fee: $0

Limited time offer/bonus: Earn an extra 10% back* (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.*

Plus, in your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).

Offer expiry date: July 31, 2022

Rewards

After the welcome offer ends, earn 2% Money-Back Rewards in your two chosen categories. And if you choose to have your Money-Back Rewards deposited in your Tangerine savings account, you are eligible for a third Money-Back category (also at 2%). Switch up your selected Money-Back categories as your spending habits evolve to maximize your return and earn 0.5% on everything else.

The 10 Tangerine Money-Back Rewards categories include:

  • Restaurants
  • Grocery
  • Gas
  • Entertainment
  • Home improvement
  • Furniture
  • Hotels and motels
  • Recurring bills
  • Drugstore
  • Public transport and parking

*Rates, product information, and reward estimates are subject to change at any time and do not constitute financial advice.

Masterpass and Mastercard Priceless Cities

Take advantage of great Mastercard services.

Masterpass

Masterpass is a digital payment service offered by Mastercard, which allows you to store all your Mastercard cards and shipping information in one digital wallet. When you use the Masterpass wallet, you can expect your online shopping experience to be fast and convenient, with all the information you need in one place. When you shop with Masterpass, your online transactions are protected by Mastercard’s security.

Priceless cities

Mastercard cardholders can enjoy great experiences through the Priceless Cities program. Priceless Cities helps you find unforgettable experiences in cities around the world such as, live shows, food experiences and much more. You can also access a wide variety of digital experiences such as art tours and culinary classes.

Mastercard security

Mastercard credit card holders have added security with transaction alerts and EVM chip technology. You also enjoy zero liability if you’re a victim of fraud. Any fraudulent transactions that are made in-store, over the telephone or online, are covered by the Zero Liability Mastercard policy. This makes paying with a Mastercard credit card safer than using cash.

Mastercard credit cards also have an additional SecureCode password that is required for online purchases, allowing you to safely do your online shopping.

Latest credit card articles

Turn your spending into extra cash with these two Tangerine credit cards
Tangerine credit cards just got more rewarding. New cardholders can get 10% on up to $1,000 in purchases within the first two months and a $125 bonus Amazon e-Gift Card from RATESDOTCA upon approval for a limited time.
Learn More
7 mins read
In the ring: Scotia Momentum Visa Infinite Card vs. BMO CashBack World Elite Mastercard
We compare two of Canada’s leading cash back credit cards in a head-to-head battle, breaking down all the must-know details.
Learn More
12 mins read
Best Aeroplan Credit Cards in Canada for 2022
Get Aeroplan points in more ways than ever before and accelerate your earnings with one of these credit cards.
Learn More
7 mins read

Subscribe to our newsletter

Stay on top of our latest offers, relevant news and tips!

Thanks for joining!

You'll be hearing from us shortly - stay tuned.