Credit cards for transit and gas let you earn rewards on your gas, transit, and regular purchases. Once you accumulate enough points or cash back, you can redeem your rewards to reduce the amount you pay at the pump.
In this article, you’ll learn about the best credit cards for transit in Canada. Keep reading to figure out what’s the best credit card for you based on your preferred rewards type, budget, and spending habits.
Key Takeaways
- Some of the best credit cards for transit and gas in Canada include the SimplyCash Preferred Card from American Express, the Tangerine Money-Back Credit Card and the RBC ION+ Visa Card.
- Credit cards for transit and gas let you earn rewards that you can redeem to offset your gas or transit-related expenses. Some also offer exclusive discounts at the pump.
What is a Credit Card for Transit?
A credit card for transit can help you reduce your gas or transit-related expenses through rewards such as cash back, points, and other perks.
These cards are geared toward individuals who frequently spend money on commutes, so when used strategically, these credit cards can significantly help you save money on gas.
The exact reward structure of the best credit cards for transit in Canada varies. However, for most of these cards, all you need to do is use your card to buy rewards-eligible products or services in order to accumulate rewards.
Best Credit Cards for Transit in Canada
1. SimplyCash Preferred Card from American Express
SimplyCash Preferred Card from American Express is one of the best credit cards for gas and groceries. With this card, you can earn 4% cash back on the two spending categories mentioned and 2% cash back on all other eligible purchases.
Once you redeem your rewards, you can use them to offset your fuel expenses. Apart from getting cash back, you can also benefit from this card’s extensive insurance coverage for travel accidents, emergency medical, and more.
SimplyCash Preferred Card from American Express
Excellent cash back credit card
Annual fee: $119.88
Rewards: Earn up to 4% cash back on everyday purchases.
Welcome offer: Get a $40 statement credit for each month you spend $750 or more (for the first 10 months).
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Minimum income requirement: None
Recommended credit score:
Good
On Amex’s website
2. Tangerine Money-Back Credit Card
You can earn unlimited 2% cash back on your preferred spending categories and 0.5% cash back on all other purchases with the Tangerine Money-Back Credit Card. Gas is included in the spending categories, but it’s best to choose the categories where you spend the most money.
Rewards can be redeemed and used for your fuel expenses. If you deposit your cash back rewards into your Tangerine Savings Account, you can add a third 2% Money-Back category to maximize your earnings.
Tangerine Money-Back Credit Card
Best no-fee cash back credit card
Annual fee: $0
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Fair to Good
On Tangerine’s website
3. Tangerine World Mastercard
The Tangerine World Mastercard is not only one of the best travel credit cards with no annual fee; it’s also one of the best credit cards for transit in Canada.
Like the previous Tangerine card, you can use this Mastercard to earn 2% cash back in two spending categories of your choice or three if you deposit your rewards into your Tangerine Savings Account.
Apart from the cash back benefits, you can also enjoy lots of travel-related perks with this credit card, including access to exclusive airport lounges and complimentary rental car collision/loss damage insurance.
Tangerine World Mastercard
Excellent no-fee cash back card with travel perks
Annual fee: $0
Rewards: Earn up to 2% unlimited cash back in 2-3 spending categories and 0.50% on all other purchases.
Welcome offer: Get an additional 10% cash back valued at $100 in the first 2 months.
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Fair to Good
On Tangerine’s website
4. American Express Cobalt Card
The American Express Cobalt Card is another money-saving AMEX credit card that can help you save money during your commute. For every eligible dollar spent, this card lets you earn 5X points on food and drinks, 3X points on streaming subscriptions, and 2X points on travel and transit.
On all other purchases, you can earn 1X points and an additional point when you spend on eligible car rentals and travel bookings.
You may use your points to pay for almost anything, including gas, groceries, and streaming services.
American Express Cobalt Card
Best for travel rewards and perks
Annual fee: $155.88 (in monthly payments of $12.99)
Rewards: Earn up to 5X points on high-spend categories.
Welcome offer: Earn as many as 15,000 bonus Membership Rewards points in the first year.
Interest rates: 20.99% on purchases and 21.99% on cash advances.
Minimum income requirement: No minimum income or credit limit requirements.
Recommended credit score:
Good
On Amex’s website
5. RBC ION+ Visa Card
With the RBC ION+ Visa Card, you can earn up to 3X Avion points for every eligible dollar you spend on groceries, dining, gas, public transit, and digital subscriptions. For other qualifying purchases, you can earn 1 Avion point.
Apart from earning rewards, this card also lets you save 3¢/L when you pump gas at Petro-Canada. To maximize your savings further, link your Petro-Points card to your RBC credit card so you can earn 20% more points than usual.
RBC ION+ Visa
Entry-level RBC credit card
Annual fee: $48
Welcome offer: Get 3,500 bonus Avion points following approval, and earn 3,500 bonus points when you spend $500 in the first 3 months.
Rewards: Earn 3x Avion points per $1 spent on groceries, rides, gas, streaming, subscriptions, digital gaming, and EV charging; 1 Avion point for every $1 spent on all other purchases.
Interest rates: 19.99% on purchases and 22.99% on cash advances.
Minimum income requirement: None
Recommended credit score:
Good or better
On RBC’s website
6. American Express Gold Rewards Card
The American Express Gold Rewards Card is one of the best credit cards for international travel and transit alike. You can use this credit card to earn up to 2X points for every eligible dollar, allowing you to reduce how much you pay for your transportation.
Moreover, you can travel more affordably and conveniently through this card’s exclusive travel perks, such as exclusive lounge access, free $100 annual travel credit, and insurance coverage for medical emergencies, trip cancellations, and trip interruptions.
American Express Gold Rewards Card
Excellent for travel rewards
Annual fee: $250
Rewards: Earn 2 points for every $1 spent on gas + grocery + drug + travel purchases. Earn 1 point for every $1 spent on all other purchases.
Welcome offer: Get up to 60,000 points in the first year (5,000 bonus points each month when you spend at least $1,000 and up to 60,000 in the first year).
Penalty rates: 20.99% for purchases; 21.99% for cash advances.
Minimum income requirement: No income requirements.
Recommended credit score:
Good
On Amex’s website
7. Scotiabank Gold American Express Card
The Scotiabank Gold American Express Card lets you earn up to 6X Scene+ points for every dollar you spend on eligible Canadian purchases. You get 6X points for groceries, 5X points for dining and movies, and 3X points for drive-related expenses, including transit.
100 Scene+ points are worth $1. Once redeemed, you can use your rewards to offset your fuel expenses.
Scotiabank Gold American Express Card
Best travel credit card in Canada
Annual fee: $120
Rewards: Earn up to 6x Scene+ points on groceries, 5x pts. on dining, food delivery, & entertainment, 3x pts. on gas, and 1x pts. on everything else.
Welcome offer: Get up to 40,000 bonus Scene+ points in the first 12 months.
Interest rates: 20.99% for purchases, 22.99% for cash advances.
Minimum income requirement: $12,000
Recommended credit score:
Good
On Scotiabank’s website
8. Scotiabank Passport Visa Infinite Card
The Scotiabank Passport Visa Infinite Card lets you earn Scene+ points for your eligible purchases while giving you access to exclusive travel rewards.
For every eligible dollar you spend, this card lets you earn 3X points on groceries, 2X points on dining and entertainment, and another 2X points for gas and transit expenses. You’ll also be covered by travel-related insurance types, allowing you to protect yourself financially.
Scotiabank Passport Visa Infinite Card
Best for no FX fees and travel perks
Annual fee: $150
Rewards: Earn 3x Scene+ points on eligible grocery purchases, 2x pts. on dining, entertainment and transit, and 1x pts. on everything else.
Welcome offer: Up to 40,000 bonus Scene+ points and no annual fee for the first year.
Interest rates: 20.99% for purchases, 22.99% for cash advances.
Minimum income requirement: $60,000
Recommended credit score:
Very Good
On Scotiabank’s website
9. Scotia Momentum Visa Infinite Card
As the cash back card with the most awards in 2022, the Scotia Momentum Visa Infinite Card won’t miss a spot in this list. It lets you earn 4% cash back on groceries and recurring payments, 2% cash back on gas and daily transit, and 1% cash back on everything else.
With this card, you can also save a 25% discount on car rental base rates at participating AVIS and Budget locations in Canada and the U.S.
Scotiabank Momentum Visa Infinite Card
Best for cash back rewards and premium perks
Annual fee: $120
Rewards: Earn between 1% and 4% cash back on purchases.
Welcome offer: Earn 10% cash back on purchases for the first 3 months up to $2,000 in purchases. Annual fee waiver for the first year.
Interest rates: 20.99% for purchases, 22.99% for cash advances.
Minimum income requirement: $60,000
Recommended credit score:
Very Good
On Scotiabank’s website
10. CIBC Dividend Visa Infinite Card
This CIBC credit card is another excellent cash back card that lets you earn up to 4% cash back on your eligible purchases.
For your eligible spending on gas, electric vehicle charging, and groceries, you’ll earn the maximum cash back reward of 4%. At the same time, you’ll earn 2% cash back on transportation, dining, and recurring payments.
Eligible purchases outside of these categories will let you earn 1% cash back.
CIBC Dividend Visa Infinite Card
Best for students and fair credit
Annual fee: $120
Rewards: Earn up to 4% cash back on high-spend categories.
Welcome offer: Get a rebate on the annual fee for the first year.
Interest rates: 20.99% on purchases and 22.99% on cash advances.
Minimum income requirement: A minimum annual personal income of $60,000 or household income of $100,000.
Recommended credit score:
Very Good
On CIBC’s website
11. BMO CashBack World Elite Mastercard
Save on gas by joining the BMO Rewards Program through the BMO CashBack World Elite Mastercard. This credit card offers one of the highest-paying cash back of 5% on groceries, a competitive 4% cash back on your transit expenses, and 2% cash back on your recurring bills.
For all your other purchases, you can still enjoy 1% cash back, maximizing your savings and making your gas expenses easier on your wallet.
BMO CashBack World Elite Mastercard
Good for travel rewards
Annual fee: $120
Rewards: Earn 5% cash back on groceries. Earn 4% cash back on transit. Earn 3% cash back on gas. Earn 2% cash back on recurring bills. Earn 1% cash back on all other purchases.
Interest rates: 20.99% for purchases and 23.99% for cash advances
Minimum income requirement: $80,000 minimum personal annual income and $150,000 for household income
Recommended credit score:
Good
On BMO’s website
12. CIBC Aventura Visa Infinite Card
The CIBC Aventura Visa Infinite Card lets you earn up to 2 Aventura points for every eligible dollar you spend.
You can earn 2 points per dollar for your travel purchases made through the CIBC Rewards Centre and 1.5 points for every eligible dollar spent on gas, electric vehicle charging, drug stores, and groceries. For every other purchase, you’ll earn 1 point per dollar spent.
On top of letting you save money through cash back, this CIBC credit lets you accelerate your savings on gas money by giving you up to 10 cents off per litre on eligible gas.
CIBC Aventura Visa Infinite Card
Great for travel insurance
Annual fee: $139
Rewards: Earn 2 points on every $1 spent on travel purchases.
Interest rates: 20.99% on purchases and 22.99% on cash advances.
Minimum income requirement: A minimum annual individual income of $60,000 or household income of $100,000.
Recommended credit score:
Good or better
On CIBC’s website
13. TD Cash Back Visa Infinite Card
Earn up to 3% cash back and redeem your rewards anytime with the TD Cash Back Visa Infinite Card. You’ll get the maximum cash back rate on groceries, gas, and recurring bill payments while letting you earn 1% cash back on all other purchases.
On top of helping you save money on gas, this card also makes driving more convenient by providing you with a free Deluxe TD Auto Club membership that covers you 24 hours with Emergency Road Services.
TD Cash Back Visa Infinite Card
Excellent cash back credit card
Annual fee: $139
Rewards: Earn 3% cash back on high-spend categories.
Interest rates: 20.99% on purchases and 22.99% on cash advances.
Minimum income requirement: $60,000 personal or $100,000 for household income
Recommended credit score:
Good
On TD’s website
14. BMO Eclipse Visa Infinite Card
Another BMO credit card that can help you save on transit is the BMO Eclipse Visa Infinite Card. You’ll earn a 5% cash back not just on groceries and food but also for your gas and transit purchases. Of course, you’ll also earn 1% cash back on everything else.
To further maximize your earnings, add an authorized user to your BMO credit card so you can earn 10% more points for your eligible purchases.
Advantages of Transit Credit Cards
- There are both free and paid transit credit cards.
- On top of earning rewards, you may also access exclusive fuel discounts when you have a transit credit card.
- Many of these cards let you earn points you can redeem for transit expenses even when you’re spending on non-transit goods.
- You can use these financial products to save money on gas without the need to change your driving behaviour or gas-spending habits.
Downsides to Credit Cards for Transit
- Some credit cards may have an annual fee.
- If you don’t diligently settle your credit card balance, the card’s interest rates might offset your accumulated savings.
- There’s a risk you may overspend on unnecessary items to boost your rewards.
How to Choose a Credit Card for Transit and Gas
To choose the credit card for transit and gas that suits you the most, consider several factors that can influence how helpful the credit card can be for you, including the:
- Card’s annual fee and interest rates.
- Additional benefits you can enjoy from the card.
- Specific spending categories that let you earn rewards.
- Credit card’s reward structure (points vs. cash back).
Compare and contrast your options until you’re left with the credit card that best aligns with your transit/gas savings goals and financial situation.
FAQs
Some of the best credit cards for international travel include the American Express Gold Rewards Card, Tangerine World Mastercard and Scotiabank Passport Visa Infinite Card. These cards provide complimentary lounge access in hundreds of airports worldwide and other travel-related perks, such as international insurance coverage.
According to American Express, transit purchases include money spent on tolls, parking, and modes of transportation like trains, ferries, buses, and subways. Note that AMEX does not consider airfare, cruises, and car rental as transit.
One of the best credit cards for train travel is the BMO Eclipse Visa Infinite Card. It lets you earn 5% cash back on transit purchases, including your spending on trains, which is higher than what most credit cards offer.
One of Canada’s best credit cards for airline tickets is the CIBC Aventura Visa Infinite Card. It offers a competitive earn rate for travel-related purchases, including airline tickets. Plus, it provides trip cancellation/interruption insurance coverage and flight delay and baggage insurance that’s helpful for travelling.
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