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The Best Credit Cards in Canada for 2024: 23 Categories Compared

Updated:

Fact Checked

We have carefully analyzed the numerous credit cards on the market and provided you with the best credit card options for travel, cash back, no annual fees, newcomers, balance transfers, bad credit, low interest rates, and more.

The winner of the overall best credit card is the Scotiabank Gold American Express Card.

However, it is not alone. Credit cards from Neo Financial, Tangerine, Simplii Financial, BMO, and American Express won best-in-class for different categories.

To arrive at this list of the best credit cards, we considered multiple features, including rewards, fees, insurance, perks, interest rates, and more.

Table of Contents Show

Here are the Best Credit Cards in Canada

CategoryCredit CardFeaturesAnnual Fee
Overall Best Credit Card in CanadaScotiabank Gold American Express40,000 bonus points ($400 value), 5 pts/$1 grocery, dining & ent., 3pts/$1 gas, Insurance x 12 types, $0 FX fees, discounted Priority Pass$120
Best Cash Back Credit CardNeo CreditAverage 5% cash back at 10,000+ locations, 15% welcome cash back on first purchases$0
Best No-Annual Fee Credit CardTangerine World Mastercard2% cashback on 3 categories, 1.95% balance transfer; 10% promo cash back offer ($100 value)$0
Best Credit Card for NewcomersSimplii Financial Cash Back Visa Card0.5%-4% cash back, Low income eligibility, easy access to free chequing account with unlimited transactions$0
Best Prepaid Credit CardNeo Money Prepaid CardUp to 5% cash back, free budgeting app, $20 welcome bonus, access to optional credit building$0
Best Grocery Credit CardScotiabank Gold American ExpressUp to 6pts/$1 on groceries, Insurance x 12 types, $0 FX fees, discounted Priority Pass$120
Best Secured Credit CardNeo Secured CreditGuaranteed approval, Average 5% cash back, low security deposit, $25 welcome bonus$0
Best Low-Interest Rate Credit CardScotiabank Value Visa Card12.99% APR on purchases, cash advances, and balance transfers; 0% balance transfer for 10 months$29; waived in 1st year
Best Premium Credit CardThe Platinum CardComprehensive insurance coverage, $200 annual travel credit, $200 annual dining credit, airport lounge access, earn 2pts/$1$799
Best No-FX Fee Credit CardScotiabank Passport Visa Infinite35,000 bonus points ($350 value), 2pts/$1 grocery, dining, transport & entertainment, $0 FX markup, airport lounge access$150
Best Student Credit CardBMO CashBack Mastercard – StudentsUp to 3% cash back (monthly limits apply)$0
Best No-Fee Travel Credit CardAmerican Express Green CardEarn 1 pt/$1, easily redeem points or transfer to frequent flyer programs$0
Best Travel Credit CardScotiabank Gold American ExpressNo FX fees, 3 pts/$1 spent on daily transit and gas, comprehensive insurance benefits (12 types), discounted Priority Pass$120
Best Balance Transfer Credit CardMBNA True Line Mastercard12.99% APR on purchases and balance transfers, 0% balance transfer for 12 months$0
Best Prepaid Card for Credit BuildingKOHO Credit BuildingBoost your credit score with a monthly subscription, earn cash back on purchases$5-$10 monthly
Best Credit Card for Travel InsuranceScotiabank Gold American ExpressOne of the most comprehensive trave insurance coverage in Canada$120
Best Credit Card for Roadside AssistanceTriangle World Elite MastercardFree roadside assistance (Gold Plan), 4% cash back at Canadian Tire, 3% groceries$0
Best Aeroplan Credit CardAmerican Express Cobalt CardEasily transfer points to Aeroplan 1:1, 5pts/$1 grocery & dining, 3pts streaming; 2pts/$1 gas & transport$155.88
Best Business Credit CardLoop Corporate Credit CardMulti-currency credit card, earn cash back points, Up to $1 million credit limit$0
Best Credit Card for GasScotiabank Gold American Express3 pts/$1 spent on daily transit and gas, rental car insurance & 11 other types$120
Best Credit Card for Lounge AccessScotiabank Platinum American Express Card10 complimentary airport lounge access yearly at Priority Pass and Plaza Premium lounges$399
Best Credit Union Credit CardDesjardins Cash Back World Elite MastercardOne of the most comprehensive travel insurance coverage in Canada$100
Best USD Credit CardBMO U.S. Dollar MastercardAvoid FX fees on US purchases$35

1. Scotiabank Gold American Express Card: Best Credit Card in Canada

Best Overall Credit Card - Scotiabank Gold American Express Card - SNC Awards.

The Scotiabank Gold American Express Card has many things going for it. It is a top rewards credit card that pays you up to 6 Scene+ points per $1 spent. These cash back points are also easy to redeem for travel, dining, grocery, or to pay off your statement balance.

The 5-6 points you earn per dollar spent on food and drink is one of the highest cash back rates for these categories in Canada. That said, the Scotiabank Gold Amex goes even further.

It is one of a few cards to waive the 2.50% foreign transaction fee you pay each time you spend in a foreign currency abroad. And while on the subject of travel, this card offers an impressive array of insurance benefits with 12 types of coverage.

Add on the discounted Priority Pass membership and 40,000 welcome bonus ($400 value), and you have a winner.

Lastly, this card has a low minimum income eligibility threshold of only $12,000, and its annual fee is $120. For comparative premium credit cards, you’d need a $60,000 to $80,000 minimum income to qualify.

This Scotiabank card wins three other awards that are discussed below.

Summary:

  • 5 points (5% reward rate) on every $1 spent on groceries, dining, and entertainment
  • 3 points for every $1 you spend on gas, daily transit, and streaming services
  • No foreign transaction fees (a savings of 2.5%)
  • 1 point on every $1 spent on everything else
  • 20,000 bonus points ($200 travel value) when you spend up to $1,000 in the first 3 months, and an additional 20,000 bonus points when you spend $7,500 or more in the first year
  • Comprehensive travel insurance, including travel emergency medical up to $1 million for up to 25 consecutive days (under 65 years) and up to 3 consecutive days (over 65 years), trip cancellation/interruption, delayed and lost baggage, travel accident (up to $1 million per incident), and hotel/motel burglary insurance
  • Rental car collision loss and damage waiver (up to 48 consecutive days and $65,000 MSRP)
  • Purchase security and extended warranty
  • 35% discount on Priority Pass membership
  • Easy to redeem travel rewards at 100 points = $1

For a card with an average annual fee, the Scotiabank Gold American Express does offer well-above-average benefits. You can read the full details.

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:
660
900

Good

Scotiabank Gold American Express Card

On Scotiabank’s website

  • Zero foreign transaction fees when travelling overseas or shopping abroad.
  • Earn 6x Scene+ points at select grocery stores, including Sobeys and Safeway.
  • Earn 5x points on dining or food delivery at select stores and restaurants as well as select movies, theatres and ticket agencies.
  • Earn 3x points on eligible gas and transit purchases.
  • Earn 1 point for every $1 CAD spent on eligible purchases.
  • Comprehensive travel insurance benefits and extended warranty protection are included.
  • Priority Pass™ membership discount to access VIP lounges.
  • Amex Offers® including deals on shopping, travel and dining.
  • Access to Front Of The Line® presale tickets to concerts, restaurants and events.
  • Minimum annual income of $12,000 required.

Earn up to 6x Scene+ point

Lots of premium perks included

No foreign transaction fees

Low income eligibility at $12,000

Expensive annual fee

$29 fee for each additional card

Scotiabank Gold American Express Card provides a great opportunity to earn Scene+ points on all purchases and extra points on select purchases. Its zero foreign transaction fees and travel insurance coverage make it a good choice for travellers.

2. Neo Credit: Best Cash Back Credit Card

Best Cash Back Credit Card 2024 - Neo Credit Card - SNC Awards

There are cash back credit cards, and there is Neo Credit, the top no-annual-fee cash back credit card in Canada by far.

Neo Credit offers new cardholders up to a whopping 15% cashback rate at participating retailers.

For everyday purchases at thousands of locations, you earn an average of 5% cash back, which is easily one of the best rates offered by any of the 180+ credit cards we analyzed.

Using the Neo app, you can easily browse real-time offers in your area, from food and drink to grocery, transportation, travel, hotels, online shopping, and more.

And these perks all come with the no-annual-fee plan. For even more rewards, you can sign up for a Premium account at $4.99 monthly.

Learn about Neo Credit.

Neo Credit

Excellent credit card for cash back

Annual fee: $0

Rewards: Earn up to 15% cash back for first purchases at eligible partners, 5% average cash back at partner stores for subsequent purchases, and 0.5% cash back on average on all purchases.

Welcome offer: $25 bonus on approval.

Interest rates: 19.99% – 22.99% for purchases.

Minimum income requirement: None

Recommended credit score:
600
900

Fair

neocreditwithbanner

On Neo Financial’s website

  • Earn up to 15% cashback on first purchases at eligible partners.
  • Earn 5% cashback at over 10,000 merchants.
  • Earn 0.5% cash back on all other purchases.
  • Unlimited cashback on purchases.
  • Use Subscription Bundles to get extra cashback by choosing from selected categories, or get other rewards on insurance or subscriptions.
  • App Insights provides a clear picture of spending habits.

Earn unlimited cashback

Earn up to 15% cashback on first purchases

No annual fee

Useful app

High-interest rate

No extra perks besides cashback

The Neo Financial Mastercard is a great way to earn up to 15% cashback without paying an annual fee. Subscription Bundles give you more control over where you make the most cash back, and the easy-to-use app provides insights into your spending habits.

3. Tangerine World Mastercard: Best No-Annual Fee Credit Card

Best No-Annual Fee Credit Card 2024 - Tangerine World Mastercard - SNC Awards 2024

When you weigh the premium perks and no-annual fee status of the Tangerine World Mastercard, it is undoubtedly the best credit card in its category.

Cardholders earn an unlimited 2% cash back in two spending categories and get a third category if they deposit their cash back in a free Tangerine Savings Account.

Unlike most no-fee cards, this Tangerine credit card includes rental car collision and mobile device insurance. It also includes a complimentary Mastercard® Travel Pass Provided by DragonPass membership, with access to 1,300 airport lounges at $32 USD per visit.

Not to be left out is its introductory 1.95% balance transfer rate for 6 months and a 10% promotional cash back in the first two months valued at $100.

To qualify, you only need a 600 credit score and a personal annual income of $60,000 (or $100,000 for a household).

Learn about no-fee credit cards.

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:
660
900

Fair to Good

Tangerine Cash Back Credit Card

On Tangerine’s website

  • No annual fee.
  • Unlimited 2% cash back in two spending categories. Get an extra 2% cash back category when you deposit cash back earned in a free Tangerine savings account.
  • Unlimited 0.50% cash back on all other purchases.
  • Cash back earned is paid out monthly.
  • Complimentary Mastercard® Travel Pass Provided By DragonPass membership with access to over 1,300 airport lounges at $32 USD per visit.
  • Rental car and mobile device insurance are included.
  • Access to over 1 million Wi-Fi hotspots worldwide through Boingo Wi-Fi
  • 1.95% promotional balance transfer for first 6 months; 3% balance transfer fee applies ($5 minimum).
  • Purchase assurance to cover loss, theft or damage of new items purchased using the card for up to 90 days.
  • Compatible with Apple Pay, Google Pay, and Samsung Pay.
  • Extended warranty for up to one extra year.

No annual fee

Easy access to airport VIP lounges

Car rental and mobile device coverage

High cash back rates with unlimited earning potential

Lacks comprehensive travel benefits

The Tangerine World Mastercard offers premium perks without charging an annual fee. Its competitive cash back earn rate makes it worthwhile for any wallet, and the mobile device and car rental coverage are solid benefits to have up your sleeve.

4. Simplii Financial Cash Back Visa Card: Best Credit Card for Newcomers

Best Newcomers Credit Card 2024 - Simplii Financial Cash Back Visa Card - SNC Awards

Newcomers to Canada can access a full suite of banking services through Simplii Financial.

From its no-fee chequing account that includes unlimited transactions and a $400 cash offer, to a cash back credit card, and international money transfers, Simplii has all the basics covered.

The Simplii Financial Cash Back Visa Card has no annual fees. It pays up to 4% cash back at restaurants, 1.5% cash back on gas, groceries, drugstore purchases, and pre-authorized payments, and 0.5% on everything else.

While there are spending caps for the 4% and 1.5% earning rates, this card stands out in the newcomer category.

Apply through the New to Canada Banking Program, and you could get up to a $10,000 credit limit with no Canadian credit history required.

The ease of application, no-transfer fee international money transfers, access to unlimited chequing transactions, and no monthly/annual fees make Simplii Financial a top banking choice for newcomers.

Simplii Financial Cash Back Visa Card

Excellent credit card for students and newcomers

Annual fee: $0

Rewards: Earn up to 4% cash back on high-spend categories.

Welcome offer: For your first 3 months, enjoy 20% cash back on eligible gas, groceries, drugstore purchases and pre-authorized payments (up to $500 spend).

Interest rates: 19.99% on purchases and 22.99% on cash advances.

Minimum income requirement: Minimum annual household income is $15,000.

Recommended credit score:
660
900

Good

Simplii Financial Cash Back Visa Credit Card

On Simplii’s website

  • Earn 4% cash back on eligible restaurant, bar, and coffee shop purchases (capped at $5,000 per year).
  • Earn 1.5% cash back on eligible gas, groceries, and drugstore purchases, as well as recurring payments (capped at $15,000 spent per year).
  • Earn 0.5% cash back on all other purchases without any cap.
  • The minimum annual household income is $15,000.

No annual fee

Competitive purchase APR at 19.99%

0.5% cash back is unlimited

Limited insurance benefits

Limited travel benefits

4% cash back categories are capped at $5,000 annually

The Simplii Financial Cash Back Visa Card offers competitive cash back on everyday purchases with no annual fee. It’s a great starter card to build your credit score while earning cash back on your most common purchases.

5. Neo Money Card: Best Prepaid Credit Card

Best Prepaid Credit Card 2024 - Neo Money Card - SNC Awards

Want to avoid paying interest while earning cashback? The free Neo Money card offers the best of both worlds: convenient payments worldwide and cash back rates of up to 5%.

The free version works well and comes with a spending account with unlimited transactions and e-Transfers.

Another highlight of the Neo Money card is that it has no credit or income requirements.

Power users can upgrade their account to Premium for a monthly fee and enjoy higher cashback rates, plus access to insurance benefits, credit score monitoring, and priority support.

In a world of prepaid cards that are limited in function and more like gift cards, the reloadable Neo Money Mastercard is ahead of the competition.

Learn about prepaid credit cards.

Neo Money Account

Monthly fee: $0

Free transactions: Unlimited debits, Interac e-Transfers, bill payments, and deposits.

Sign-up bonus: $20 welcome bonus (after $50 funding), up to 15% cash back on your first purchases at partner stores.

Interest earned on deposit: 2.25% for spending account. Earn average of 5% cash back on purchases using the Neo Money card.

neologotransparent-img

On Neo Financial’s website

  • Earn 2.25% interest on your balance.
  • Earn an average of 5% cash back at thousands of Neo partners and up to 15% cash back on your first purchases.
  • Interest is calculated daily and paid monthly.
  • Transactions, including purchases, bill payments, transfers, and direct deposits, are free and unlimited.
  • No minimum deposit or balance is required.
  • Easily set up automatic bill payments.
  • Fund your account in 3 ways: Interac e-Transfer, link your existing accounts, or set up direct deposit.
  • Neo Money now comes with a Mastercard that gives you access to your balance for POS and online purchases.
  • Available throughout Canada, except Quebec.

Earn 2.25% interest on your balance

Up to 5% cash back on purchases

Easily fund your account in one of 3 ways

No minimum deposit or balance required

No free ATM withdrawals

A hybrid spending and savings account, Neo Money pays 2.25% interest on your balance with no monthly fees or balance requirements. It includes unlimited, free transactions, bill payments, payroll deposits, transfers, and more. You can easily request a Neo Money card to earn cash back.

6. Scotiabank Gold American Express Card: Best Grocery Credit Card

Best Grocery Credit Card 2024 - Scotiabank Gold American Express Card - SNC Awards.

The overall best credit card in Canada also ranks as the best credit card for grocery purchases. If you shop at Sobeys, Safeway, FreshCo, or Foodland, you’ll get the best bang for your buck using the Scotiabank Gold American Express Card.

It offers 6 points for every $1 you spend at these stores and 5 points per $1 at other eligible grocery stores (over 1,100 stores). The 5x rate also extends to restaurants, food delivery, and food subscriptions.

7. Neo Secured Credit Card: Best Secured Credit Card

Best Secured Credit Card 2024 - Neo Secured Credit - SNC Awards.

Neo Secured Credit is the top secured credit card in Canada.

It doubles as a cashback credit card, standing shoulder-to-shoulder with many of the best cash back credit cards that have no annual fee.

The features that set this card apart from the others in its category include:

  • No annual fees: While secured credit cards can set back up to $120 annually, Neo Secured Credit has no annual fee.
  • Cashback rewards: Cardholders earn up to 5% cashback at partner stores.
  • Guaranteed approval: There is no hard credit check, and approval is guaranteed if you are the age of the majority, are a Canadian resident, and can provide security funds (starting at only $50).

Neo Financial reports to a credit bureau to help you build your credit history.

Learn about secured credit cards.

Neo Secured Credit

Best secured credit card for bad credit

Annual fee: $0

Rewards: Earn up to 15% cashback on first purchases at eligible partners, 5% cash back at partner stores, and 0.5% unlimited cashback on everything else.

Welcome offer: $25 bonus

Interest rates: 19.99%-22.99% for purchases, 22.99%-28.99% for cash advances.

Minimum income requirement: None

Recommended credit score:
N/A

None

neosecuredwithbanner

On Neo Financial’s website

  • Earn up to 15% cashback on first purchase at eligible partners.
  • Earn 5% unlimited cashback at partner stores.
  • Earn 0.5% unlimited cashback on everything else.
  • Create Subscription Bundles to get extra cashback, insurance, or subscriptions.
  • Choose your own credit limit.
  • Minimum security fund requirement of $50.
  • No overlimit fees.
  • Use auto-pay to avoid missing payments.
  • Guaranteed approval and no hard credit checks.

Earn up to 15% cashback

Good rewards for a secured card

No annual fee or overlimit fees

Guaranteed approval

High-interest rate

Few additional perks

If you have a bad credit score or no credit history, the Neo Secured Mastercard gives you a way to start improving your score while earning up to 15% cashback. We also like that it has no annual or monthly fees and offers guaranteed approval.

8. Scotiabank Value Visa: Best Low-Interest Credit Card

Best Low-Interest Credit Card 2024 - Scotiabank Value Visa - SNC Awards.

If you seek a low-interest credit card that saves you money when you carry a balance, consider the Scotiabank Value Visa Card. It has a low 12.99% regular interest rate for purchases and cash advances, and offers a 0% introductory rate on balance transfers for the first 10 months.

The Scotiabank Value Visa costs $29 annually, but this is currently waived in the first year.

This card isn’t designed for earning cash back. However, if what you need is a low-rate card that significantly lowers the interest you pay on your credit card balance, consider adding it to your wallet.

Learn about low interest credit cards.

Scotiabank Value Visa Card

Best for low-interest rates

Annual fee: $29

Welcome offer: No annual fee for the first year and 0% interest rate for cash advances for the first 10 months.

Interest rates: 12.99% for purchases and cash advances.

Minimum income requirement: N/A

Recommended credit score:
660
900

Good

Scotiabank Value Visa Card

On Scotiabank’s website

  • The annual fee is waived in the first year.
  • Low-interest rate of just 12.99%.
  • 0% promotional balance transfer rate for 6 months; 1% balance transfer fee.
  • Save up to 25% on car rentals at AVIS and Budget in Canada and the United States.
  • Minimum gross income requirement of $1,000 per month.

Low-interest rate on purchases

Low-interest rate on cash advances

Low minimum income requirement

No rewards

Few premium perks

The Scotiabank Value Visa Card is a no-frills credit card that offers a very low-interest rate on purchases and cash advances. While it does not offer many other perks, it is a good option for anyone who carries a balance.

9. The Platinum Card: Best Premium Credit Card

Best Premium Credit Card 2024 - The Platinum Card - SNC Awards

The American Express Platinum Card is the best premium credit card in Canada.

If you want to be spoiled on your travels while enjoying comprehensive insurance benefits and coverage, The Platinum Card is for you.

For a $799 annual fee, you get a $200 annual travel credit, a $200 annual dining credit at eligible restaurants, access to over 1,300 airport lounges worldwide, premium perks at Toronto Pearson International Airport, hotel perks, and more.

In addition to this, cardholders earn up to 2 points per $1 spent and can use these points for travel booking, gift cards, and statement credits.

You can also transfer your points to many other loyalty programs.

See the best Amex credit cards.

American Express Platinum Card

Top credit card for VIP perks

Annual fee: $799 (and $250 annual fee for additional cards)

Rewards: Earn 2x Membership Rewards Points on dining and food delivery, 2x pts. on travel and 1x pts. on everything else.

Interest rates: Variable (charge card)

Minimum income requirement: N/A

Recommended credit score:
760
900

Very Good

American Express Platinum Card

On Amex’s website

  • Earn 2x Membership Rewards Points on food delivery and dining purchases.
  • Earn 2x points on travel purchases.
  • Earn 1x points on other purchases.
  • Use earned points to save on almost any purchase.
  • No preset spending limit.
  • Get a $200 annual travel credit on American Express Travel Online.
  • Get a $200 annual dining credit at some of Canada’s best restaurants.
  • Get access to over 1,300 airport lounges around the world.
  • Engraved and precision-cut metal card.
  • Comprehensive travel insurance benefits are included.
  • American Express® Experiences, including Front of the Line Presales, Retail, Dining, and Wellness benefits.
  • Shopping coverage protects eligible purchases.

Earn up to 2x Membership Rewards Points

Use points to save on almost anything

Packed with premium perks

Engraved metal card

Very high annual fee

High annual fee for additional cards

The American Express Platinum Card is a premium card packed with benefits. It allows you to earn up to 2x Membership Rewards Points, which can then be used to save money on other purchases. It also comes with many premium perks, like access to airport lounges and comprehensive travel insurance coverage.

10. Scotiabank Passport Visa Infinite Card: Best No-FX Credit Card

Best No-FX Fee Credit Card 2024 - Scotiabank Passport Visa Infinite Card - SNC Awards.

When travelling abroad, you pay a 2.50% foreign transaction fee each time you make a foreign currency purchase using your Canadian credit card. Some credit card issuers even charge 3%.

You can waive these FX fees using the Scotiabank Passport Visa Infinite Card, which tops all other no-FX fee credit cards in Canada.

Apart from waiving FX fees, this card offers up to 3 Scene+ points on your purchase. It is also an excellent card for airport lounge access, with six complimentary lounge visits annually via the Visa Airport Companion Program.

Lastly, cardholders can take advantage of 11 insurance types.

To qualify for the Scotiabank Passport Visa Infinite, you need a minimum personal income of $60,000 or $100,000 for a household.

New applicants get up to 40,000 bonus points ($400 value). This card has a $150 annual fee.

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:
760
900

Very Good

scotiabank passport visa infinite card

On Scotiabank’s website

  • Earn 3x Scene+ points for shopping at select grocery stores, including Sobeys and Safeway.
  • Earn 2x points on dining, select grocery stores, entertainment venues and eligible transit options.
  • Earn 1 point for all other eligible purchases.
  • No foreign transaction fees on purchases overseas.
  • Includes Avis® Preferred Plus membership.
  • Access to over 1,200 global airport lounges with the Visa Airport Companion Program.
  • Comprehensive travel insurance benefits are included.
  • A minimum annual income of $60,000 or a minimum household income of $100,000 is required.

Earn up to 3x Scene+ points

No foreign transaction fees

Premium perks like travel insurance included

High-income requirement of $60,000

$150 annual fee

The Scotiabank Passport Visa Infinite Card is a great option for anyone who wants to earn Scene+ points on their purchases. Zero foreign exchange fees, comprehensive travel insurance coverage, and Visa Airport Companion Program membership also make it a good option for travelers.

11. Students – BMO CashBack Mastercard: Best Student Credit Card

Best Student Credit Card 2024 - Students BMO CashBack Mastercard - SNC Awards

The Students BMO CashBack Mastercard is the best no-fee cashback credit card for students in Canada. It takes the top spot with its ease of qualification and significant cash back earn rates for everyday purchases.

Cardholders earn 3% cashback on grocery spending up to a limit of $500 spent monthly.

For recurring bill payments, you earn 1% cashback (up to $500 limit for each statement period), and you earn 0.50% cashback on all other purchases.

Cashback earned can be deposited into your BMO chequing, savings, or InvestorLine account, or you can get a statement credit.

To qualify for this card, you must be between 18 and 24 and be a student at a recognized post-secondary school.

Learn about student credit cards.

BMO Cash Back Mastercard

Good entry-level card for students

Annual fee: $0

Rewards: Earn up to 3% cash back on groceries, 1% on subscriptions and utilities, and 0.5% on all other purchases.

Interest rates: 20.99% for purchases, 22.99% for cash advances.

Minimum income requirement: $15,000

Recommended credit score:
660
900

Good

BMO Cashback Mastercard

On BMO’s website

  • Earn 3% cash back on groceries ($500 monthly spend cap).
  • Earn 1% cash back on subscriptions and utilities ($500 monthly spend cap).
  • Earn 0.5% cash back on other purchases.
  • Redeem cashback at any time and set an automatic deposit.
  • Get extra cashback for additional cardholders.
  • Extended warranty and purchase protection included.
  • Get up to 25% off car rentals at Alamo and National Car Rental.
  • Save 15% on Cirque du Soleil shows in Canada.

Earn up to 3% cashback

Redeem cashback at any time

Includes extended warranty and purchase protection

No annual fee

Few extra perks included beyond cashback

Cashback rate of 0.5% for most purchases is on low end

$500 monthly spend cap on 1% and 4% cash back categories

The BMO CashBack Mastercard is a good way to earn up to 3% cashback without paying an annual fee. The ability to cash out your cashback at any time and set automatic deposits means no more waiting for your money.

12. American Express Green Card: Best No-Fee Travel Credit Card

Best No-Fee Travel Credit Card 2024 - American Express Green Card - SNC Awards

The American Express Green Card is our top choice for Canada’s best no-annual-fee travel credit card.

With no annual fees, cardholders earn 1 Membership Rewards (MR) point for every $1 spent. The points earned double while you use the card to book hotel or car rentals on the Amex Travel Online platform.

MR points can be redeemed for gift cards, merchandise, travel bookings, or to pay for Amazon purchases.

Even better, you can transfer your points on a 1:1 basis to frequent flyer programs like Aeroplan, Asia Miles, Delta SkyMiles, and Etihad Guest.

American Express Green Card

Entry-level Amex rewards credit card

Annual fee: $0

Rewards: Earn 1X points on everyday purchases.

Interest rates: 20.99% on purchases and 21.99% on cash advances.

Minimum income requirement: None

Recommended credit score:
660
900

Good

AMEX green card

On Amex’s website

  • Earn 1X points on all everyday purchases.
  • Earn 1 additional point on every dollar spent on eligible hotel or rental car bookings.
  • Redeem your Membership Rewards points for gift cards, merchandise, travel rewards, or purchases on Amazon.
  • Enjoy exclusive access to tickets, virtual events, live performances, and more through American Express Experiences.
  • Receive purchase protection for 90 days from the date of purchase in case of damage or theft.

Rewards points never expire and are unlimited

No annual fee

No minimum income or credit limit requirements

Limited travel and insurance benefits

High purchase APR at 20.99%

Limited categories with extra points

The American Express Green Card offers a broad points system with attractive options to redeem points. With no annual fee and no minimum income or credit limit requirements, it’s a great starter card to build your credit score.

13. Scotiabank Gold American Express Card: Best Travel Credit Card

Best Travel Credit Card 2024 - Scotiabank Gold American Express Card - SNC Awards

In choosing the best travel credit card, we looked at the card that scored highest across the main features you want in a travel card: flexibility, reward rate, insurance coverage, ease of redemption, welcome bonus, and no-FX fees.

Our overall best Canadian credit card, the Scotiabank Gold American Express Card, tops the list of cards you should consider for travelling.

You save 2.5% on foreign currency transaction fees, earn 3 points per $1 spent on daily transit and gas, and access to comprehensive travel insurance.

You can also redeem your points to book travel through Scene+ Travel.

14. MBNA True Line Mastercard: Best Balance Transfer Credit Card

Best Balance Transfer Credit Card 2024 - MBNA True Line Mastercard - SNC Awards

With its offer of a 0% introductory rate on balance transfers for 12 months, the MBNA True Line Mastercard is the best balance transfer credit card in Canada.

This exceptional offer is available for balance transfers you complete within 90 days of opening your account.

Considering you could be paying 20% interest on your balance, the MBNA True Line Mastercard can provide significant savings. It also has no annual fees.

After the promotional period ends, you pay a standard 12.99% interest rate on purchases and balance transfers. To qualify for this card, you must be a Canadian resident and the age of the majority in your province of residence.

Learn about balance transfer cards.

MBNA True Line Mastercard

Great for low-interest purchase rates

Annual fee: $0

Rewards: Low-interest rate of 12.99%.

Welcome offer: 0% interest rate on balance transfers for the first 12 months.

Interest rates: 12.99% for purchases, 24.99% for cash advance.

Minimum income requirement: N/A

Recommended credit score:
660
900

Good

MBNA True Line Mastercard

On MBNA’s website

  • Low 12.99% interest rate on purchases and balance transfers.
  • No annual fee for additional cardholders.
  • Save on car rentals at Budget and Avis.
  • MBNA Payment Plan allows you to break up large purchases into monthly payments.
  • Emergency Card Replacement included.

Low-interest rate

No annual fee

No rewards

Few perks included

The MBNA True Line Mastercard is a no-frills credit card with a low-interest rate. Whether you use it for general spending or to transfer your balance, its low-interest rate and no annual fee could help you to save money and pay off your balance sooner.

15. KOHO Credit Builder: Best Prepaid Card for Credit Building

Best Credit Building Prepaid Credit Card 2024 - KOHO Credit Builder - SNC Awards

Looking to build, rebuild, or establish credit? Your choices typically include applying for a traditional credit card or a secured credit card. However, it can be challenging to qualify for a regular credit card if you have poor credit.

This is where the KOHO Prepaid Mastercard comes into play.

KOHO does not require a credit check, and you qualify with any income. After you get a KOHO Card (free or paid), you can add on Credit Building for $5 to $10 monthly (the cost varies with the KOHO plan you have).

Your monthly payments are reported to Equifax, helping you build credit. KOHO users see an average credit score increase of 22 points after 3 months of using the Credit Building product.

Learn about credit building in Canada.

KOHO Credit Building

For a low monthly fee, build your credit score in one of three easy ways.

Monthly fee: $5 to $10 (depending on which KOHO Mastercard you have)

Free transactions: Unlimited debits and Interac e-Transfers.

Sign-up bonus: Earn $20 in cash back when you make a purchase within 30 days of registering.

Interest earned on deposit: Up to 4.50% interest rate.

KOHO Prepaid Mastercard 1

On KOHO’s website

  • Build or repair your credit score in one of three ways:
  • Credit Building: Take out a line of credit, repay it on time, and build your credit history.
  • Flexible Credit Building: Deposit your money as a line of credit, repay it on time, and build your credit history.
  • Use both to supercharge your credit building.
  • Every month, KOHO reports on-time payments to Equifax.
  • KOHO Credit Building costs $10, $7, or $5 monthly, depending on which KOHO plan you subscribe to.
  • Everyone is approved for KOHO Credit Builder.
  • Whichever plan you choose, get access to your credit score and a financial coach on-demand.
  • No credit check to sign up, and you can cancel anytime.

This subscription is discounted for those with Essential, Extra, or Everything plans

3 ways to build your credit

No application, credit check, or hidden fees

Missing payments can negatively impact your credit score

Your credit score may drop slightly when first signing up

KOHO Credit Building helps build or repair your credit score for a low monthly cost in one of three easy ways. As long as you pay off your line of credit on time, KOHO reports the positive payments to Equifax monthly. Those with the KOHO Essential, Extra, or Everything plans get a discount.

16. Scotiabank Gold American Express Card: Best Credit Card for Travel Insurance

Best Travel Insurance Credit Card 2024 - Scotiabank Gold American Express Card - SNC Awards

While the top premium cards generally provide travel insurance, none combines them on a cost-per-value basis like the Scotiabank Gold American Express Card, our #1 best credit card for 2024.

It offers travel emergency medical insurance, trip cancellation/trip interruption, flight delay, delayed and lost baggage, travel accident, rental car collision, hotel/motel burglary, mobile device insurance coverage and more.

The only letdown is that travel emergency medical insurance coverage for those 65 and older is for up to 3 consecutive days.

Given this card’s comparatively low $120 annual fee, it is a bargain when you consider its entire package.

Learn about credit card insurance.

17. Triangle World Elite Mastercard: Best Credit Card for Roadside Assistance

Best Roadside Assistance Credit Card 2024 - Triangle World Elite Mastercard - SNC Awards

The Triangle World Elite Mastercard is your best choice for free roadside assistance.

If you regularly shop at Canadian Tire, this card is an absolute must-have with 4% cash back (Canadian Tire Money) on your purchases at Canadian Tire, Sport Chek, Mark’s and Atmosphere stores, 3% on groceries, and 1% on everything else.

It also offers a free Gold Plan roadside assistance with towing distance of up to 250km with each service call in Canada and the US, car rental collision insurance, and 5-7 cents per litre on gas purchased at Gas+ locations.

Considering it has no annual fees, this Triangle credit card is a well-hidden secret. To qualify, you need a minimum income of $80,000, or $150,000 for household income.

Triangle Mastercard

Entry-level credit card for Triangle rewards

Annual fee: $0

Rewards: Earn 4% cash back in Canadian Tire money at eligible stores. Earn 1.5% cash back in Canadian Tire money at grocery stores. Earn up to 5 cents per litre in Canadian Tire money. Earn 0.5% cash back in Canadian Tire money everywhere else.

Welcome offer: N/A

Interest rates: 19.99% on purchases, 22.99% on cash advances

Minimum income requirement: None.

Recommended credit score:
660
900

Good

Triangle Mastercard

On Triangle’s website

  • Earn 4% cash back at Canadian Tire stores, including Canadian Tire, Sport Chek, and Mark’s.
  • Earn 5 cents per litre on other fuel at Gas+ and Essence+ gas stations.
  • Earn 1.5% cash back on groceries (up to $12,000 annually).
  • Earn 1% cash back everywhere else.
  • Access to no fee, no interest financing with equal monthly payments when you spend $150 or more on qualifying purchases at any Canadian Tire location and participating retailers.

No annual fee

Easily redeem at $1 CT Money for $1

Excludes Walmart and Costco from grocery earning rates

No insurance coverage

Redemption options are limited to retailers that accept Canadian Tire Money

The Triangle Mastercard is a great no-fee option for earning rewards if you shop at Canadian Tire, Marks, Sport Chek, L’Équipeur, Atmosphere, Party City, Pro Hockey Life, Sports Rousseau, Hockey Experts, and L’Entrepôt du Hockey.

18. American Express Cobalt Card: Best Aeroplan Credit Card

Best Aeroplan Credit Card 2024 - American Express Cobalt Card - SNC Awards

The American Express Cobalt Card is one of the top credit cards that come to mind when considering travel rewards. While cardholders don’t earn Aeroplan points directly, using this Amex card, they can transfer their Membership Rewards points on a 1:1 basis to Aeroplan.

With the Amex Cobalt offering up to 5 points per $1 spent on food and drinks, 3 points/$1 on streaming subscriptions, 2 points/$1 on travel, and 1 point/$1 everywhere else, it is easy to accumulate points.

This card also includes comprehensive travel insurance and other perks for a $12.99 monthly fee or $155.88 annually.

The TD Aeroplan Visa Infinite Privilege Card ($599 annual fee) is a runner-up for the best Aeroplan credit card in Canada.

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.

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:
660
900

Good

amex cobalt new card

On Amex’s website

  • Earn 5X points on food and drink purchases, including delivery.
  • Earn 3X points on streaming subscription bills.
  • Earn 2X points on travel and transit purchases.
  • Earn 1X points on all other eligible purchases.
  • Get 1 additional point for every dollar you spend on hotel or rental car bookings through American Express Travel.
  • Redeem points on travel with 1:1 transfers to several frequent flyer programs.
  • Enjoy exclusive access to tickets, virtual events, live performances, and more through American Express Experiences.
  • Access various travel insurance benefits, including emergency medical ($5M), travel accident ($250K), flight delay, baggage delay, hotel burglary, and rental car insurance.
  • No minimum income or credit limit requirements.

Attractive point redemption options

Comprehensive travel coverages

No minimum income requirement

5x points category is limited

High purchase APR at 20.99%

The American Express Cobalt Card offers a competitive points system with attractive point redemption options. With no minimum income requirement, it is an accessible option for those interested in a strong rewards system with comprehensive travel benefits.

19. Loop Corporate Card: Best Business Credit Card

Best Business Credit Card 2024 - Loop Corporate Card - SNC Awards

The Loop Corporate Credit Card is just one of many innovative products available in the Loop ecosystem of financial products.

Issued by WFCU Credit Union Ltd., small businesses can get multiple corporate credit cards in various currencies, including CAD, USD, GBP, and EUR. This can save you thousands in FX fees annually since you can now make payments in the local currency.

There is no monthly or annual fee. You can get up to a $1 million credit limit based on your revenues and have 55 days to make payments.

In addition, Loop offers opportunities to earn cash back points on your purchases, with easy redemption at brands like Amazon, Uber, and Air Canada.

A Loop Corporate Card also makes running your business a lot easier, with the ability to:

  • Create multiple virtual cards in different currencies for your team members
  • Set spending limits
  • Digitally capture receipts for verification
  • Integrate your transactions with accounting software like Quickbooks and Xero for easy reconciliations

Pair this card with their free global banking account (USD, CAD, GBP, and EUR) and international transfer service, and you have the best business credit card in Canada.

Learn about business credit cards.

20. Scotiabank Gold American Express Card: Best Credit Card for Gas

Best Gas Credit Card 2024 - Scotiabank Gold American Express Card - SNC Awards.

For the fifth time on this list, the Scotiabank Gold American Express claims the top spot, this time as the best credit card for gas purchases.

It offers 3 points for every $1 spent on gas and daily transit, including rideshare, buses, subway, and taxis.

Add on the fact you earn up to 6 points per $1 spent on groceries, get comprehensive travel insurance and can redeem your points in so many ways.

21. Scotiabank Platinum American Express Card: Best Credit Card for Lounge Access

Best Lounge Access Credit Card 2024 - Scotiabank Platinum American Express Card - SNC Awards

The Scotiabank Platinum American Express Card is Canada’s top airport lounge access credit card.

It offers 10 complimentary airport lounge access annually at Priority Pass and Plaza Premium lounges with over 1200 VIP lounges worldwide. Supplementary cardholders get 4 free visits each year.

Airport lounge access is just one of many perks offered by this card. It also provides comprehensive insurance coverage (10 types), no FX fees, luxury travel privileges, and more.

The Scotiabank Platinum Express Card has a $399 annual fee, and supplementary cards cost $99.

Scotiabank Platinum American Express Card

Top premium credit card for airline lounge access

Annual fee: $399

Rewards: Earn 2X Scene+ points on all eligible purchases and 3X points on travel purchased via Scene+ Travel.

Welcome offer: Earn up to 60,000 bonus Scene+ points.

Interest rates: 9.99% on both purchases and cash advances.

Minimum income requirement: $12,000

Recommended credit score:
760
900

Very Good

Scotiabank Platinum American Express Card

On Scotiabank’s website

  • Earn double Scene+ points (2X) on all eligible purchases.
  • Earn 3X Scene+ points on travel bookings made through Scene+ Travel.
  • Relax with 10 complimentary airport lounge passes each year.
  • Enjoy exclusive access to tickets, virtual events, live performances, and more through American Express Invites.
  • Access various travel insurance benefits, including emergency medical, baggage, car rental, and trip delay insurance.
  • Receive complimentary Gold membership to the Hertz #1 Club.
  • Never pay foreign transaction fees.
  • Minimum credit limit is $10,000.

Very competitive purchase APR at 9.99%

2X points on ALL purchases

No foreign transaction fees

High annual fee at $399

Minimum credit limit of $10,000 may be restrictive

The Scotiabank Platinum American Express Card offers a highly competitive purchase APR and a robust points program with solid travel benefits for those willing to pay its annual fee. It is an excellent card for frequent travelers who would make the most of its benefits.

22. Desjardins Cash Back World Elite Mastercard: Best Credit Union Credit Card

Best Credit Union Credit Card 2024 - Desjardins Cash Back World Elite Mastercard - SNC Awards.

The Cash Back World Elite Mastercard from Desjardins is our pick of the best credit union credit cards.

With a $100 annual fee, cardholders earn 4% cashback on groceries, a 3% rate on restaurants, entertainment, and alternative transportation purchases, and 1% on everything else.

This card also includes travel insurance benefits, car rental, and mobile device insurance coverage.

To qualify, you need a minimum personal annual income of $80,000 or $150,000 for household income.

23. BMO U.S. Dollar Mastercard: Best USD Credit Card