2026's Best Rewards Credit Cards for Canadians
Compare the best rewards credit cards to get the perks you actually want.
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Rewards credit cards 101
Looking to get more out of your credit card? Rewards credit cards help you earn back valuable cash rewards, point rewards, travel rewards, or a combination on every purchase you make through your credit card. Find out which of these credit card rewards match your lifestyle and compare the best Canadian rewards credit cards on Rates.ca.
Best Credit Cards for 2026: Best Rewards Credit Cards
Many credit cards offer travel points, cash back or low interest rates for making day-to-day purchases. However, some rewards programs stand out for their extensive redemption options and more ways for cardholders to potentially save money through exclusive offers and deals.
Our top picks feature flexible reward programs to help cardholders get more in return for 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 and ranked the cards with the highest first-year value, the most flexible rewards and robust benefits.
| First-year value* | Credit score required | Winner | |
|---|---|---|---|
| $1,380 | Fair | American Express Cobalt® Credit Card | |
| $1,074 | Good | Scotiabank®* Gold American Express® Card | |
| $882 | Excellent | CIBC Dividend® Visa Infinite Card* | |
| $1,062 | Good | BMO eclipse Visa Infinite* Card |
*The Rates.ca Best of Finance methodology assumes the cardholder spends an average of $2,000 a month on their card to determine the first-year value. The calculation includes all welcome bonuses and promotional offers at the time of publishing.
Best Overall Rewards Credit Card for 2026
Many credit cards offer travel points, cash back or low-interest rates for making day-to-day purchases. However, some rewards programs stand out for their extensive redemption options and more ways for cardholders to potentially save money through exclusive offers and deals.
Our top picks feature flexible reward programs to help cardholders get more in return for 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.
| First-year value* | Credit score required | Top features | |
|---|---|---|---|
| $1,380 | Fair | Flexible Membership Rewards® program and travel insurance. | |
| $1,536 | Excellent | Enjoy a Priority Pass Membership with four free lounge passes annually. Get a NEXUS application fee rebate and travel insurance. | |
| $1,451 | Good | Enjoy great travel benefits and insurance. You can redeem points for travel, statement credit and more. | |
| $1,074 | Good | Enjoy the flexible Scotia Scene+ rewards program, no foreign transaction fees and travel insurance coverage. | |
| $924 | Good | One of the best cards out there for earning rewards on groceries and restaurants purchases. |
Winner: American Express Cobalt® Credit Card
For a monthly fee of $15.99, you can access the cards with one the best rewards programs in the market: The American Express Cobalt® Credit Card.
Points can be put towards flights (through the Fixed Points Travel Program Travel), streaming services, movie tickets, events, statement credits and other purchases.
According to our Best of Finance methodology, the average Canadian would earn $1,221 in rewards in the first year. Many other rewards credit cards have jacked-up welcome bonuses, but Cobalt® Card rewards are structured to keep delivering value, and you don’t need an exceptional income or credit score to qualify for it.

2. CIBC Aventura® Visa Infinite* Card

3. American Express® Gold Rewards Card

4. Scotiabank®* Gold American Express® Card

5. MBNA Rewards World Elite® Mastercard®

Best Credit Card for Subscriptions
As we move deeper into a subscription–based economy, you may have found yourself attached to several accounts – whether on a streaming platform, food delivery app or something else. Either way, all the accompanying expenses are likely taking a toll on your reward balance.
If your current rewards card isn’t specifically designed for online subscriptions and other expenses, you may be receiving a lower number of rewards or cash back than you would’ve if your lifestyle was more ‘old-school.’ 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.
| First-year value* | Credit score required | Top features | |
|---|---|---|---|
| $1,074 | Good | Earn five Scotia Rewards points for every $1 spent on fast food, food delivery and food subscriptions. Earn three Scotia Rewards points for every $1 spent on eligible subscription purchases like Netflix. | |
Runner up | $1,494 | Good | Make use of flexible redemption on points, plus generous welcome bonuses of up to $1,100 in travel. |
Runner up | $434 | Good | For no annual fee, earn 2 Scene+ points on select streaming services, in addition to discounts at participating rental car agencies. |
Winner: Scotiabank®* Gold American Express® Card
The Scotiabank®* Gold American Express® Card rewards cardholders for their 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. 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 $1,074 in rewards in the first year.

2. RBC Avion® Visa Infinite Card

3. Scotiabank American Express® Card

Best Family Credit Card for Gas and Groceries
The entire family can benefit from the right credit card. Whether it’s redeeming points for groceries at your favourite store or putting them towards streaming services, Canada’s 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.
But sometimes, a credit card has unique features that aren't reflected in its first-year value. That’s why our top pick for the best family credit card may surprise you.
Although it doesn’t top our first-year value rankings, we believe the CIBC Dividend® Visa Infinite* Card is the best choice for families.
Why? It offers families straightforward cash back on core family expenses – and you can redeem it anytime as statement credit once you accumulate just $10.
Plus, you can get supplementary cards for free, allowing other family members to rack up cash back.
With that in mind, your total rewards earned on the CIBC Dividend® Visa Infinite Card* could eclipse the earning potential we’ve given it.
Keep reading to see the full ranking.
| First-year value* | Credit score required | Top features | |
|---|---|---|---|
WINNER | $882 | Excellent | 4% cash back on eligible gas, EV charging, and grocery purchases† |
Runner up | $476 | Fair | The card has no annual fee, allowing customers get it as a secondary card to shop for groceries and gas and save money in the process. |
Runner up | $1,380 | Fair | Earn 5 AMEX Membership Rewards for every $1 spent on food and groceries. |
Winner: CIBC Dividend® Visa Infinite Card*
The CIBC Dividend® Visa Infinite* provides cash back on essential household purchases, like gas and groceries.
The earn rate on gas is among the highest in Canada. You'll also save per litre when you fuel up at Journie gas stations (Chevron, Pioneer, Fas Gas, and Ultramar). Grocery purchases earn a competitive rate at most stores — you’re not restricted to one chain.
Plus, you won't need to wait all year to redeem your cash back. Apply it as a statement credit once you’ve reached $10 or keep saving — there's no cap on how much cash back you can earn.
Beyond cash back, you’ll enjoy CIBC’s travel and mobile device insurance plus premium Visa Infinite* perks — concierge service, dining offers, hotel upgrades, and rental car insurance — perfect for family vacations.
This card is a solid choice if you want to earn cash back but don’t want to miss out on travel benefits.
According to our Best of Finance methodology, the average Canadian could earn around $882 in rewards in the first year.

2. President’s Choice Financial® World Elite Mastercard®

3. American Express Cobalt® Credit Card

Best Credit Card for Young Professionals
Young professionals today are tech-savvy, ambitious individuals looking to make their mark on the world – working hard during the day and spending as much time as possible with friends in the evenings.
Our top picks for young professionals reward them with cash back or perks for everyday purchases like 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 dining, entertainment and transportation using our Best of Finance methodology and ranked the cards that provided the highest first-year value.
| First-year value* | Credit score required | Top features | |
|---|---|---|---|
| $1,062 | Good | Designed for the lifestyle of the urban digital millennial. | |
Runner up | $1,380 | Fair | As a Cobalt card member, you earn points quickly in categories like groceries, restaurants, travel, gas and streaming services. |
| $1,074 | Good | Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points. |
Winner: BMO eclipse Visa Infinite* Card
Apply for the BMO eclipse Visa Infinite* Card and earn up to $1,150 in value including up to 70,000 Bonus points, monthly streaming statement credit, $50 statement credit, and no annual fee in your first year.*
According to our Best of Finance methodology, the average Canadian will earn roughly $1,062 in the first year.

2. American Express Cobalt® Credit Card

3. Scotiabank® Gold American Express® Card

Rates, product information and reward estimates are subject to change at any time and do not constitute financial advice. This post was not sponsored. Rates.ca may receive a referral fee from our partners or affiliate links featured on the site; however, our editorial choices are objective and free from bias. The opinions expressed in this article are purely those of Rates.ca; thus, the credit card issuers and partners are not responsible for any editorials or reviews that may appear. Please visit the associated brand’s website for complete and current terms and conditions on any product or service mentioned. The information in this article is accurate as of the date of this posting, January 31, 2026. Read our full disclaimer.
Compare cashback and reward points to see which one suits your needs
Both cashback and rewards/travel points have benefits. This table breaks down some of the pros and cons for both types of cards.
| Rewards Type | Cashback | Rewards/ Travel points |
|---|---|---|
| Pros |
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| Cons |
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What type of credit card rewards can I earn?
Each rewards credit card comes with a unique rewards program. Depending on the card, the rewards points can be redeemed for travel rewards, instant cashback, gift cards and much more. The type of rewards credit card you choose greatly depends on the kind of rewards you want to ultimately redeem for.
Here are the most popular credit card rewards and perks:
- Travel rewards: If you’re a frequent traveler, travel rewards will be highly useful to you. A travel rewards credit card can earn you Air Miles or points that can be redeemed for flights, train tickets, hotel stays, travel upgrades and much more. See our travel cards.
- Cash back rewards: Cashback rewards are great for the thrifty shopper. These cards give you instant cashback based on a specific percentage of your retail purchases, instantly saving you money. Cashback rewards can be based on a flat-rate, bonus, or flexible bonus structure. Learn more about cashback rewards.
- Gift rewards: Some banks offer credit card rewards programs that allow you to use your points to redeem gift cards or items from their catalogues such as perfumes, vacuum cleaners, tablets etc. If you like to cash in your rewards frequently, you can use your points for multiple smaller rewards, like movie tickets or gifts cards for a dinner out. For example, the Scotiabank Rewards Points program allows you to browse through their rewards product catalogue to redeem your rewards points and select anything from coffee makers to a Swiss Chalet gift card.
- Gas rewards: Do you spend a lot on gas every month? A gas rewards credit card can help you earn rewards or get cashback on your gas purchases. You can find two categories of gas rewards credit cards on the market: a rewards credit card with gas rewards or a loyalty gas credit card. A rewards credit card with gas perks allows you to purchase gas from anywhere and earn rewards each time you buy gas. In contrast, a loyalty gas rewards credit card will be tied to a specific gas retailer, allowing you to only earn rewards if you fill up your gas at their specified locations.
Credit card perks
In addition to rewards, you can also enjoy a variety of perks from most rewards credit cards.
- Travel perks: Travel rewards credit cards often offer travel related perks such as discounted airfare prices and VIP airport lounge access with membership to services such as Priority Pass or LoungeKey. Almost every travel card also includes additional travel insurance perks which can save you time, money and peace of mind on short trips. Travel rewards over all make travel much more convenient and can save you a lot of money use all these features.
- Insurance perks: Your rewards credit card can also come with a variety of insurance coverages such as travel, auto and accidental insurance. These can come in handy when you face unexpected situations like trip cancellations and roadside car issues. If you rent cars often, you might want to look for a rewards credit card that offers car rental insurance. As somebody who loves to travel, find a rewards credit card with travel insurance perks like trip cancellation insurance. Here’s an example of a credit card that comes with several insurance benefits:
Tip: You can also use a combination of rewards credit cards to take advantage of multiple rewards programs. For example, you can use a bonus cashback card and a travel rewards card to save money and at the same time earn travel rewards for your trips. This strategy will help you maximize your annual credit card rewards and perks.
Frequently asked questions about rewards credit cards
Trying to figure out which rewards will work for you? These common questions about rewards credit cards can help you decide.
How do I know which rewards credit card is for me?
When choosing a rewards credit card, remember to look for rewards and perks that complement your lifestyle. There are many different types of rewards cards. Some offer travel rewards, while others cater to cashback, retail discounts, gift cards and much more. Look for cards that have rewards and ways to earn that better suit your financial and lifestyle goals.
Two things to consider when choosing a rewards card
1) How will I earn points/cash back (Or what / where do I spend money): Cards have different earn rates on different spend categories – get a card with a high rate on the thing you buy the most (if you are a big family, maybe this is groceries – if you are a young urbanite, maybe this is entertainment)
2) What do I want to spend (redeem) my points on: Some credit card users want cash back or statement credits because it’s the most flexible. However, cards that offer only cashback usually have lower reward rates than say their travel point counterparts. Even if the card has a flexible points rewards option (you can redeem earned points for cashback or travel) it is common for the redemption value of cash reward to be less than if the points were redeemed on travel.
To be eligible for most rewards credit cards, you must have good to excellent credit. If you need to work on your credit score, opting for a low interest credit card or a no-fee credit card can help you get there.
What is the annual fee for a rewards credit card?
Rewards credit cards typically come with an annual fee ranging anywhere from $100-$200. Some credit card companies waive the first year fee. Choose your rewards card strategically so the advantages outweigh the annual fee.
Why do rewards credit cards have annual fees?
Most rewards credit cards come with an annual fee due to the high-value benefits that come with the card. When choosing a rewards program, pick one that will help you get the most out of your credit card. For example, say you choose a cashback rewards credit card that has an annual fee of $100, comes with a 2% instant cashback on groceries and gas purchases, and 0.5% on other purchases. If you spend an average of $900 a month on groceries and gas alone, you’ll earn at least $216 in cashback by the end of the year, which offsets the annual credit card fee.
Similarly, most travel rewards credit cards come with bonuses. For example, say you choose a travel rewards card that comes with a welcome bonus of 2,000 Air Miles and a promise of an additional 4,000 Air Miles when you spend more than $10,000 in the next six months. You also can earn one Air Mile for every $10 spent. This offers you the potential to earn more than 6,000 Air Miles within six months of holding the card. These Air Miles are worth a few or more domestic trips, helping you save up on travel costs.
Looking for great offers on rewards credit cards? Check out the latest offers on credit cards.
Best credit cards in other categories
- All the Best Credit Cards in Canada
- Best No-Fee Cash Back Credit Card
- Best No-Fee Travel Credit Card
- Best Overall Travel Credit Card
- Best Overall Cash Back Credit Card
- Best Low Interest Credit Card
- Best Balance Transfer Credit Card
- Best Secured Credit Card for Building Credit
- Best Credit Card for Young Professionals
- Best Student Credit Card
- Best Credit Card for Earning Travel Points
- Best Credit Card With No Foreign Transaction Fees
- Best Family Credit Card for Gas and Groceries
- Best Credit Card for Subscriptions
- Best No-Frills Cash Back Credit Card

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