6 Best Gas Credit Cards in Canada for August 2022

The best credit cards for gas in Canada help reduce the monetary impact of gas purchases on your wallet.

Whether they pay you in points you can redeem for travel rewards, or you get real cash back at the pump, a good gas card is valuable if driving is part of your everyday life.

Many of the cards listed below are also on my list of the best credit cards in Canada and some of them offer exceptional rental car insurance.

Let’s dig in.

Best Gas Credit Cards (No Fees)

If you don’t like paying the annual fees on credit cards, we have got you covered with no-annual-fee credit cards below.

Pro tip: These cards offer returns on gas purchases that are competitive even when compared to premium credit cards.

1. Tangerine Money-Back Credit Card

  • Annual fee: $0
  • Gas rewards: Up to 2% cash back (15% promo cash back)
  • Minimum income required: $12,000

The Tangerine Money-Back Credit Card is one of the best cash back cards in Canada for gas purchases.

It offers unlimited 2% cash back rewards when you spend in up to three of your chosen categories, and 0.5% cash back on everything else.

The purchase categories you can choose from include gas, grocery, restaurants, drug store, recurring bill payments, entertainment, public transportation and parking, and hotels.

The cash back earned is paid out every month, so you don’t need to wait until the end of the year before gaining access to it.

Extra perks offered by this card include a 1.95% balance transfer for 6 months, purchase protection, and extended warranty coverage.

For a limited time, new Tangerine credit cardholders get up to a $150 bonus when they spend $1,000 within the first 2 months.

tangerine money-back card
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If you have a personal income of $60,000 or higher, you can also apply for the premium version of this card – Tangerine World Mastercard.

It also has no annual fees, pays up to 2% cash back, and includes rental car insurance, free global Wi-Fi, mobile device insurance, and airport lounge access.

2. MBNA Rewards Platinum Plus Mastercard

  • Annual fee: $0
  • Gas rewards: 2 points per $1
  • Minimum income required: N/A

The MBNA Rewards Platinum Plus Mastercard is a top credit card for gas purchases and travel rewards.

It offers 2 points for every dollar spent on eligible gas, grocery, and restaurant purchases. Note that there is a $5,000 annual cap for each of these categories.

All other spending earns at a 1% rate and you can redeem your points as a statement credit or use it for travel, gift cards, and merchandise.

This card also offers purchase protection and extended warranty coverage.

MBNA Rewards Platinum Plus Mastercard..
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3. Triangle World Elite Mastercard

  • Annual fee: $0
  • Gas rewards: 5-7 cents per litre at Gas+ stations
  • Minimum income required: $80,000

The Triangle World Elite Mastercard is a hidden gem especially if you regularly shop at Canadian Tire stores.

It offers 5-7 cents per litre of gas you purchase at Gas+ and participating Husky stations, making it one of the best gas loyalty rewards programs in Canada.

In addition to this, you earn 4% Canadian Tire Money when you shop at Canadian Tire, Sport Chek, Mark’s, and Atmosphere stores.

Also, you earn 3% on the first $12,000 you spend on grocery purchases per year (excludes purchases at Costco and Walmart).

Lastly, this card offers a free roadside assistance plan. Learn more in this review of the Triangle credit cards.

Triangle World Elite Mastercard
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Best Premium Gas Credit Cards

The best premium credit cards have annual fees, however, they also amplify your rewards and offer VIP perks.

The ones listed below offer a mix of cash back or rewards points on gas purchases, comprehensive insurance coverage, and more.

4. Scotia Momentum Visa Infinite Card

  • Annual fee: $120
  • Gas rewards: 2% cash back (10% promo cash back)
  • Minimum income required: $60,000

The Scotia Momentum Visa Infinite Card is also one of the best grocery cash back cards in Canada.

After the 10% cash back promotional period ends, you earn 4% cash back on groceries and recurring payments; 2% cash back on gas and daily transit, and 1% on everything else.

Its insurance benefits package included mobile device insurance, travel medical, flight delay, trip cancellation, rental car, travel accident insurance, and more.

Scotia momentum visa infinite
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5. Scotiabank Gold American Express Card

  • Annual fee: $120
  • Gas rewards: 3 points per $1 spent
  • Minimum income required: $12,000

The Scotiabank Gold American Express Card is a premium card that is easy to apply for.

It offers 20,000 bonus points to new cardholders who spend $1,000 in the first 3 months, plus an extra 20,000 points when you spend $7,500 in the first year (for a total of $400 value).

You earn 5 points per $1 spent on groceries, dining, and entertainment; 3 points per $1 spent on gas and daily transit; and 1 point per dollar on everything else.

This card is one of a few credit cards in Canada that waives the 2.5% fee on foreign currency purchases.

It offers a comprehensive suite of travel insurance coverage (8 types) and users get a discount on a Priority Pass membership with access to over 1200 airport lounges worldwide.

Scotiabank Gold American Express Card
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6. American Express Cobalt Card

  • Annual fee: $155.88
  • Gas rewards: 2 points per $1 spent
  • Minimum required: N/A

The American Express Cobalt Card is one of the best-rated credit cards in the country for travel cash back and rewards.

It offers 5 points per $1 spent on eligible food purchases; 3 points per $1 spent on streaming services; 2 points per $1 spent on gas and transit, and 1 point per dollar spent on everything else.

You can redeem your points for a variety of rewards including travel, merchandise credit card statement balances, purchases on Amazon.ca, and more.

This premium card offers 9 types of insurance and Front Of The Line access to various VIP experiences.

This AMEX Cobalt review covers what you need to know about it.

amex cobalt new card
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Best Credit Offers in August 2022

Earn up to 15% cash back for a limited time ($150 bonus)

One of the best no-fee credit cards in Canada.

Get 2% unlimited cash back on up to 3 purchase categories.

Get 0.5% unlimited cash back on all other purchases.

Get 15% bonus cash back in first 2 months ($150 value).

1.95% balance transfer offer for 6 months.

Get up to 5% cashback and grow your savings ($20 bonus)

Free prepaid reloadable Mastercard (use referral code CASHBACK during signup for $20 free).

Free budgeting app with automatic savings features.

Access to a portion of your paycheque 3 days early.

1.20% savings interest on every dollar balance.*

Compare the best personal loan rates in Canada

Get the best rates from multiple lenders.

Borrow up to $50,000 regardless of your credit score.

Pre-approvals are available in as fast as 5 minutes.

Low-interest rates start at 1.99% and terms from 4-60 months.

The NeoCard pays up to 5% cash back at select retailers

Get a $25 bonus when you apply for the Card.

Up to 5% cash back at participating stores.

No annual account fees and 1% minimum cash back guaranteed.

Guaranteed instant approval credit card.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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  • 15% cashback on $1,000 spent in first 2 months ($150 value).*
  • Earn 2% unlimited cashback in 2 categories and 0.50% back on everything else.
  • No annual fees!
*Limited time offer. Terms and conditions apply.
Best No Annual Fee Cash Back Credit Card
Best No Annual Fee Cash Back Card
Get 15% cashback on up to $1,000 spent in first 2 months ($150 value).* No annual fees!
*Limited time offer. Terms and conditions apply.
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