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Best Credit Cards in Canada: 2023 nominees announced

Dec. 8, 2022
5 mins
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As an annual RATESDOTCA tradition, we thoroughly compare and analyze more than 100 credit cards to formulate a list of the Best Credit Cards in Canada. We put rewards programs, perks, and benefits to the test to bring you our top picks each year.

All our nominees are evaluated based on interest rates, welcome bonuses, annual fees, rebates, and waivers — with a category for every type of spender.

Here are the nominees for 2023’s Best Credit Cards in Canada:

Best Overall Rewards Card

Redeem rewards according to your lifestyle. Depending on the rewards credit card, your points can help pay for entertainment, travel, or statement credits. The nominees for Best Overall Rewards Card are:

Best No-Fee Cash Back Card

Opting for a no-fee cash back credit card can mean benefiting from discounts, special offers, and even fraud protection in some cases — without the annual fee. The nominees for Best No-Fee Cash Back Card are:

Best No-Fee Travel Card

A no-fee travel credit card can sometimes offer travel insurance. But your points can always help cover your airfare. The nominees for Best No-Fee Travel Card are:

Best Overall Travel Card

The best overall travel credit cards can allow you to redeem points on flights and accommodation and offer well-rounded travel insurance. Plus, benefit from complimentary airport lounge service and other exclusive perks. The nominees for Best Overall Travel Card are:

Best Overall Cash Back Card

Earn cash back on groceries, gas, and all other purchases. Once you’ve accumulated some cash, apply the amount directly to your chequing account or credit card statement, depending on the card. The nominees for Best Overall Cash Back Card are:

Best Low-Interest Card

Pay less interest on your credit card if you miss a payment with standard rates from 8.99%. The nominees for Best Low-Interest Card are:

Best Balance Transfer Card

Pay off high-interest debt faster with one of these low-interest credit cards. The nominees for Best Balance Transfer Card are:

Best Card for Building Credit

Those looking to build or repair their credit score can do so easily by making a monetary deposit and keeping up with routine payments. The nominees for Best Card for Building Credit are:

Best Card for Young Professionals

Young professionals can earn points for living a busy lifestyle. Get rewarded for dining in and out, entertainment, and getting around the city. The nominees for Best Card for Young Professionals are:

Best Card for Students

Students who may be on a tight budget can earn points on the daily essentials, with no annual fee. The nominees for Best Card for Students are:

Best Card for Earning Travel Points

Earn points with flexible redemption options for rewards programs like AMEX Membership Rewards, Scotia Scene+ Rewards, and Aeroplan. The nominees for Best Card for Earning Travel Points are:

Best No Foreign Transaction (FX) Fees Card for Long-Stay Travellers

No foreign transaction fees make travel more rewarding and efficient for snowbirds and frequent flyers. The nominees for Best No Foreign Transaction Fees Card are:

Best Family Card for Gas and Groceries

Earn high reward rates for every dollar you spend on groceries and gas. The nominees for Best Family Card for Gas and Groceries are:

Best Card for Staying at Home and Ordering In

If food delivery services, takeout, and streaming services are a standard part of your daily routine, these cards can help you earn in the process. The nominees for Best Card for Staying at Home and Ordering In are:

Best Prepaid Credit Card

Prepaid credit cards require no credit check and can offer cash back and low foreign exchange fees. The nominees for Best Prepaid Credit Card are:

Best Overall Mastercard

These Mastercard credit cards are among the best in Canada — and our favourites haven’t wavered from last year. The nominees for Best Overall Mastercard are:

Best Overall Visa Card

A Visa credit card can expand your spending capabilities, internationally. One of these picks is sure to suit your spending habits. The nominees for Best Overall Visa Card are:

The winners of each category will be announced during the first week of 2023.

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Compare the best credit cards on RATESDOTCA

Find the best credit card for your lifestyle today!

Rates, product information and reward estimates are subject to change at any time and do not constitute financial advice. This post was not sponsored. RATESDOTCA 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 RATESDOTCA; 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, December 8, 2022. Read our full disclaimer.

Michelle Bates

Editor and Writer

Michelle Bates is an editor and writer at RATESDOTCA. She has just over four years of content writing experience and got her start writing for small GTA businesses in 2017. A few years later, she began freelance writing, fact-checking, and interviewing sources for Cottage Life magazine and CottageLife.com.

She has a Bachelor of Arts (Honours) degree from Queen's University in English Literature and Sociology along with a Publishing - Book, Magazine and Electronic graduate certificate from Centennial College. Michelle is now a financial writer and specializes in personal finance content, including mortgages, home, auto, and travel insurance, and credit cards. Her work has been covered by notable Canadian news sources like Daily Hive, Toronto Sun, CTV News, and Narcity.

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