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31 Best Rewards Credit Cards In Canada in 2024

Updated:

Fact Checked

There are many different rewards credit cards in Canada, including travel rewards credit cards, cashback credit cards, and rewards credit cards with no annual fee.

I’ve used many of these to get great discounts and cashback over the years. But which is the best card for you?

Here are 31 of the best, along with information on the pros and cons and how to apply for a rewards credit card.

Key Takeaways

  • Canadians can access various types of rewards credit cards, including travel rewards credit cards, cashback rewards credit cards, and no-fee rewards credit cards.
  • Some of the best rewards programs include Aeroplan, PC Optimum, and Scene+ Rewards.
  • When choosing a credit card, decide which type of reward appeals most to you, then check the interest rates, annual fees, and eligibility requirements to make your choice.
Table of Contents Show

Best Travel Rewards Credit Cards

Travel rewards credit cards allow you to earn points that you can use to get discounts on flights, hotels, car rentals and other travel-related services. Here are some credit cards with the best rewards for travel.

1. Scotiabank Passport Visa Infinite Card

Earn 3x Scene+ points on eligible grocery purchases and 2x points on entertainment, gas and daily transit, and dining purchases with this card for an annual fee of $150. Plus earn a minimum of 1 Scene+ point for every $1 you spend on other purchases.

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.

2. Scotiabank Gold American Express Card

For an annual fee of $120, you can earn 6x Scene+ points on eligible grocery purchases, 5x points on dining and entertainment, 3x points on gas and transit as well as select streaming services, and 1 point for every $1 you spend on everything else.

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 Passâ„¢ 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.

3. American Express Cobalt Card

If you want to earn lots of Amex points, this card makes it easy. Earn up to a massive 5x points on dining and delivery, along with 3x points on streaming, 2x points on travel and transit, and 1x points on everything else.

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.

4. WestJet RBC World Elite Mastercard

This is one of the best rewards credit cards for travel, which you can use to earn 1.5% in WestJet dollars on all your purchases, and 2% on WestJet flights or packages.

WestJet RBC World Elite Mastercard

Premium credit card for earning WestJet dollars

Annual fee: $119

Rewards: Earn up to 2% back in WestJet dollars on eligible travel purchases.

Welcome offer: Get up to 300 bonus WestJet dollars in the first 3 months.

Interest rates: 20.99% on purchases and 22.99% on cash advances.

Minimum income requirement: $80,000 for personal income and $150,000 for household income.

Recommended credit score:
660
900

Good or better

westjetrbc mastercard-img

On WestJet RBC’s website

  • Earn 2% back in WestJet dollars on WestJet flights or WestJet Vacations packages.
  • Earn 1.5% back in WestJet dollars on everyday purchases.
  • Redeem WestJet dollars to pay for WestJet flights or WestJet Vacations packages.
  • Bring a friend on vacation with an annual round-trip companion voucher that allows you to purchase discounted tickets for a travel companion.
  • Access comprehensive travel insurance benefits, including emergency medical, trip interruption insurance, hotel burglary, and rental car insurance.
  • Enjoy Mastercard Travel Pass Program provided by DragonPass membership with access to 1,300 airport lounges worldwide.
  • Access to Boingo Wi-Fi for Mastercard Cardholders nearly everywhere you go.
  • Get a Tier Status life with everyday purchases on the WestJet RBC World Elite Mastercard.
  • Your WestJet dollars don’t expire.
  • Instantly save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.

Free annual round-trip companion voucher

Access to VIP airport lounges

Comprehensive travel insurance coverage

Reward redemption restricted to WestJet purchases

Spending categories for 2% back are limited

The WestJet RBC World Elite Mastercard is the ultimate card for individuals and couples who frequently fly using WestJet. It offers most of the standard perks you would expect for a travel credit card and has an affordable annual fee.

5. The Platinum Card from American Express

You can earn plenty of points with this card that you can redeem for discounts. Earn up to 2x points on dining and delivery purchases, 2x points on travel, and 1x points on everything else, plus travel-related perks like airport lounge access.

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.

6. Marriott Bonvoy American Express Card

This card has an annual fee of $120, and you can use it to earn 5x points on your Marriott purchases and 2x points for every $1 spent on other purchases along with other perks like travel coverage.

Marriott Bonvoy American Express Card

Best for Marriott Bonvoy points and perks

Annual fee: $120

Rewards: Earn up to 5X Marriott Bonvoy points on eligible purchases.

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

Minimum income requirement: No minimum income or credit limit requirement.

Recommended credit score:
660
900

Good to Excellent

marriott-bonvoy-card

On Amex’s website

  • Earn 5X Marriott Bonvoy points on every purchase made at participating hotels.
  • Earn 2X Marriott Bonvoy points on all other purchases.
  • Receive complimentary Marriott Bonvoy Silver Elite status, and then get upgraded to Gold Elite status after charging $30,000 to year card each year.
  • Enjoy an Annual Free Night Award after your card anniversary each year.
  • Earn 15 Elite Night Credits per calendar year toward reaching the next level of Elite Marriott Bonvoy status.
  • Access various travel insurance benefits, including travel accident ($100K), baggage, car rental, and flight delay insurance.
  • Enjoy exclusive access to tickets, virtual events, live performances, and more through American Express Experiences.
  • No minimum income or credit limit requirement.

Up to 5X points on hotel purchases

Comprehensive travel benefits and hotel rewards

Competitive 2X points on most purchases

Annual fee is on the higher side at $120

5X points category is limited to hotels

The Marriott Bonvoy American Express Card offers an excellent selection of travel benefits. It’s great for frequent travelers who will make the annual fee worthwhile by maximizing their use of its travel perks.

7. TD First Class Travel Visa Infinite Card

Earn TD Reward Points for all your purchases using this card along with perks like travel insurance coverage, making it a great option if you like travelling.

TD First Class Travel Visa Infinite Card

Good travel credit card

Annual fee: $139

Rewards: Earn TD Rewards Points for discounts on travel-related purchases.

Interest rates: 20.99% for purchases and 22.99% for cash advances

Minimum income requirement: $60,000 personal income or $100,000 household income.

Recommended credit score:
660
900

Good

TD First Class Travel Visa Infinite Card

On TD’s website

  • Earn 8 TD Rewards Points for every $1 spent to book travel via Expedia® For TD.
  • Earn 6 TD Rewards Points for every $1 spent on restaurants and groceries.
  • Earn 4 TD Rewards Points for every $1 spent on recurring bill payments.
  • Earn 2 TD Rewards Points for every $1 spent on other purchases with no spend cap.
  • Earn Birthday Bonus of 10,000 additional points.
  • Earn additional points at participating Starbucks stores.
  • Save on car rentals at Avis and Budget.
  • Use points for discounts on flights and other travel expenses as well as at Amazon.ca.
  • Annual TD Travel Credit worth $100 if you make a booking at Expedia® For TD.
  • Extensive travel insurance coverage is included.
  • Annual fee of $50 for the first extra cardholder and $0 for other cardholders.
  • $60,000 personal income or $100,000 household income requirement.

Good rewards scheme for travellers

Includes comprehensive travel insurance coverage

Additional travel-related premium perks

High annual income requirement

Annual fee for primary and first additional cardholder

As the name suggests, the TD First Class Travel Visa Infinite Card could be a great choice for travellers. Not only can you earn TD Rewards Points that you can spend on travel-related purchases, but the card comes with extensive travel insurance coverage and other perks like discounts on car rentals.

8. RBC ION+ Visa Card

You can earn 3x Avion points for every $1 you spend on certain categories using this card like groceries, gas, and subscriptions, and earn 1 point for every $1 you spend on everything else.

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:
660
900

Good or better

rbc ionplusvisacc-img

On RBC’s website

  • Earn 3 Avion points for every dollar you spend on groceries, rideshare, daily public transit, gas, streaming, subscriptions, and digital gaming.
  • Earn 1 Avion point for every dollar you spend on all other qualifying purchases.
  • Save 3¢/L on fuel purchased at Petro-Canada when you link your credit card to your Petro-Canada Card.
  • Redeem your points for air travel, gift cards, merchandise, statement credits, dining, etc. The minimum redemption is only $10.
  • Get a 3-month complimentary DashPass subscription, valued at almost $30.
  • Offers mobile device insurance and optional travel insurance coverage.
  • Includes Purchase Security and Extended Warranty Insurance.

Competitive purchase APR at 19.99%

Attractive point redemption options

No minimum income threshold

Limited insurance benefits

The conversion rate for points is not as enticing

The RBC ION+ Visa is a step up from the RBC ION Visa, with double the points on specific purchases. It is an excellent choice for students or newcomers looking to get approved for their first credit card in Canada.

9. CIBC Aventura Visa Infinite Card

Get one Aventura point for every $1 you spend using this card, get 1.5 points for gas, grocery, and drugstore purchases, and get 2 points for travel purchased via the CIBC Rewards Centre. It’s also packed with travel deals.

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:
660
900

Good or better

On CIBC’s website

  • Earn 2 points per dollar on travel purchased through the CIBC Rewards Centre.
  • Earn 1.5 points per dollar on eligible gas station, grocery store, and drug store purchases.
  • Save up 10 cents per litre on eligible gas purchases. 
  • Earn 1 point per dollar on all other purchases.
  • Access various travel insurance benefits, including emergency medical, flight delay and baggage, hotel burglary, and rental car insurance.
  • Redeem points to cover full airfare, including taxes and fees.
  • A minimum annual individual income of $60,000 or household income of $100,000 is required to apply.

More points on high-spend categories

Comprehensive suite of travel insurance benefits

Points redeemable for airfare

Minimum income requirement may be restrictive

Travel must be booked through the card’s rewards centre

High purchase APR at 20.99%

The CIBC Aventura Visa Infinite Card offers a flexible travel rewards program that’s great for frequent travelers and those who will maximize its points system. It also includes a solid list of insurance coverages while still maintaining a reasonable annual fee.

10. RBC Avion Visa Infinite Card

You can earn one Avion point for every $1 you spend with this card, and you won’t face any seat restrictions or blackout periods either. You can earn an extra 25% in points when you make travel-related purchases.

RBC Avion Visa Infinite Card

Competitive RBC rewards credit card

Annual fee: $120

Rewards: Earn 1 Avion point for every dollar you spend, plus 25% more points on travel-related purchases.

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:
660
900

Good or better

RBC Avion Visa Infinite Card

On RBC’s website

  • Earn 1 Avion point for every dollar you spend.
  • Get 25% extra points on eligible travel-related purchases.
  • Redeem your points for air travel, with flights as low as 15,000 Avion points, or other merchandise, gift cards, or vouchers.
  • Cash in points toward paying off your credit card balance.
  • Use points to fly with any airline at any time of the year, including during peak travel seasons.
  • A minimum annual personal income of $60,000 or household income of $100,000 is required to apply.

Competitive purchase APR at 19.99%

Attractive point redemption options

 Earn points across spend categories

Limited insurance benefits

Minimum income requirement may be restrictive

The RBC Avion Visa Infinite Card provides attractive point redemption options for frequent flyers. With a manageable annual fee, it’s a good option for those who will maximize its rewards system by spending on travel.

Best Cash Back Rewards Credit Cards

I’ve earned a lot of money in cashback since I started using cashback rewards credit cards. Here are some of the best currently available in Canada.

11. Tangerine World Mastercard

Earn 2% cashback in two categories of spending with this card, and earn 0.5% cashback on all your other purchases. You also get to enjoy Mastercard Travel Rewards.

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.

12. Neo Money Card

Earn unlimited cashback with the Neo Money Card, and earn an average of 5% when you shop at thousands of partners around the country.

Neo Money Account

Monthly fee: $0

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

Sign-up bonus: $20 welcome bonus (after funding and making your first purchase), 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.

13. Scotia Momentum Visa Infinite Card

Earn 4% cashback on recurring payments and groceries with this card, 2% on transit and gas, and 1% on everything else.

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:
760
900

Very Good

Scotiabank Momentum Visa Infinite Card

On Scotiabank’s website

  • Earn 4% cash back on groceries, subscriptions, and recurring bill payments.
  • Earn 2% cash back on gas and daily transit.
  • Earn 1% cashback.
  • Comprehensive travel insurance benefits are included when you use your card for 75% or more of trip costs.
  • New mobile device insurance included.
  • Access to Visa Infinite Hotel Collection with the best hotel rates and automatic room upgrades.
  • Enjoy savings on car rentals with AVIS and Budget in Canada and the United States.
  • $60,000 annual income or $100,000 minimum household income required.

Earn up to 4% cashback

Travel insurance included

Comes with several premium perks

High annual fee

High-income requirement

The Scotiabank Momentum Visa Infinite Card is a good option for anyone who wants to earn cashback on their everyday purchases. It also includes travel insurance and new device insurance coverage plus additional perks like access to the Visa Infinite Hotel Collection.

14. SimplyCash Preferred Card from American Express

Earn 4% on groceries up to $1,200 per year, 4% on gas, and 2% on everything else with no limit when you use this credit card.

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.

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

Minimum income requirement: None

Recommended credit score:
660
900

Good

New SimplyCash_Preferred_Card-imgs

On Amex’s website

  • Earn 4% cash back on purchases at eligible gas stations in Canada.
  • Earn 4% cash back on eligible grocery purchases in Canada – get up to $1,200 cash back annually.
  • Earn unlimited 2% cash back on all other purchases.
  • Enjoy exclusive access to tickets, virtual events, live performances, and more through American Express Experiences.
  • Get up to $1,000 of mobile device insurance coverage.
  • Access various travel insurance benefits, including emergency medical ($5M), travel accident ($100K), flight delay, baggage delay, hotel burglary, and rental car insurance.

Up to 4% cash back on high-spend categories

No limit on most cash back purchases

Comprehensive travel insurance coverage

Monthly fee of $9.99

4% cash back on grocery purchases capped at $1,200

High purchase APR at 20.99%

The SimplyCash Preferred Card from American Express offers a competitive cash back rate on all purchases. It also includes a solid list of insurance coverages without a hefty annual fee.

15. BMO CashBack World Elite Mastercard

Earn between 1% and 5% on your purchases, depending on the spending category with this card. There is no limit on how much you can earn with the 1% cashback level.

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:
660
900

Good

On BMO’s website

  • Earn 5% cash back on groceries (up to $500 monthly spending).
  • Earn 4% cash back on ride-sharing, taxis, or public transportation (up to $300 monthly spending).
  • Earn 3% cash back on gas and EV charging (up to $300 monthly spending).
  • Earn 2% cash back on recurring bills (up to $300 monthly spending).
  • Earn 1% cash back on all other purchases.
  • Redeem cash back by paying off statement credits, direct deposits into your BMO account, or depositing to your Investorline account.
  • Free access to Wi-Fi hotspots worldwide when travelling through Boingo Wi–Fi.
  • Free roadside assistance.
  • Various travel insurance benefits, including medical and trip cancellation.

Comprehensive travel insurance

Access to a 24/7 concierge

Free roadside assistance (valued at approximately $69 per year)

High income requirements

Caps on spending in every category

The BMO Cashback World Elite Mastercard is an excellent card that keeps things simple. Rather than figuring out complicated conversion rates and being restricted to redeeming only on specific categories, this cash back card gives users more control over how their rewards are being spent.

16. TD Cash Back Visa Infinite Card

Earn 3% cashback on recurring bills as well as grocery and gas purchases, and 1% on everything else, along with additional perks like Visa Infinite benefits.

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:
660
900

Good

TD Cash Back Visa Infinite Card

On TD’s website

  • Earn 3% in Cash Back Dollars on eligible grocery purchases, gas purchases, and recurring bill payments.
  • Earn 1% in Cash Back Dollars on all other purchases.
  • Redeem Cash Back Dollars to pay down your credit card balance.
  • Cash Back Dollars never expire.
  • Access Visa Infinite benefits including exclusive ticket access, hotel perks, dining events, and wine tastings.
  • Save 10% on Avis and Budget car rentals in Canada and the U.S.
  • Access some travel insurance benefits, including travel medical and lost baggage.
  • Earn 50% more Cash Back Dollars at participating Starbucks locations.

Up to 3% cash back on high-spend categories

Cash Back Dollars never expire

Use rewards toward paying card balance

High purchase APR at 20.99%

Limited travel benefits

The TD Cash Back Infinite Visa Card offers a robust cash back program with a wide range to maximize Cash Back Dollars earned. With a manageable annual fee, it also comes with some premium perks.

17. CIBC Dividend Visa Infinite Card

Earn 4% cashback on gas and groceries, 2% on dining, transport, and recurring payments, and 1% on all other purchases.

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:
760
900

Very Good

CIBC Dividend Visa Infinite Card

On CIBC’s website

  • Earn 4% cash back on gas and grocery purchases.
  • Earn 2% cash back on transportation, dining, and recurring payments.
  • Earn 1% cash back on everything else.
  • Maximize your earnings with no limit on the total cash back you can earn.
  • Access insurance benefits like mobile device insurance and emergency travel medical insurance.
  • Get up 10 cents off per litre on gas at participating locations when you link your card with Journie Rewards.
  • Save up to 25% on car rentals at participating Avis and Budget locations worldwide.
  • Access Visa Infinite benefits, including exclusive ticket access, hotel perks, dining events, and wine tastings.
  • Save with no transaction fees on sending money abroad.
  • A minimum annual personal income of $60,000 or household income of $100,000 is required to apply.

No limit on cash back rewards

Competitive 4% cash back in high-spend categories

Attractive additional rewards

High purchase APR at 20.99%

Minimum income requirement may be restrictive

Limited travel benefits

The CIBC Dividend Visa Infinite Card offers a competitive cash back program with no limit on its rewards. Its manageable annual fee makes it an attractive option for those interested in a cash back card with the potential for robust earnings.

18. Simplii Financial Cash Back Visa Card

Earn 4% cashback on dining up to $5,000 per year, 1.5% on drugstore, grocery, and gas purchases up to $15,000 per year, and 0.5% unlimited on other purchases.

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.

19. Meridian Visa Infinite Cash Back Card

Get 4 cashback reward points for every $1 spent on gas and groceries, 2 points for utility bills and pharmacy purchases (for the first $25,000), and 1 point for all other eligible purchases.

20. Desjardins Cash Back World Elite Mastercard

Earn 4% cashback on groceries, 3% on restaurants, entertainment, and alternative transport, and 1% on other purchases. Your account is credited as soon as you accumulate $100.

Best Rewards Credit Cards With No Annual Fee

Some rewards credit cards don’t have any annual fee, so you can use them for free and take advantage of all the rewards they offer. Check out the best ones below:

21. KOHO Easy Mastercard

The KOHO Easy Mastercard is completely free to use. You can earn 1% cashback on groceries and transportation expenses and up to 5% at select merchants.

KOHO Account

Top Prepaid Card in Canada

Monthly fee: $0

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 (use CASHBACK offer code).

Interest earned on deposit: 3.00% interest rate on your entire balance (up to 5% interest if you upgrade).

KOHO logo

On KOHO’s website

  • No minimum account balance, fees, or promotional rates.
  • Send and receive unlimited free Interac e-Transfers.
  • Earn up to 5% cash back on purchases at KOHO partners.
  • Earn up to 5.00% interest on your balance, depending on your account tier.
  • With the KOHO account, choose the Easy, Essential, Extra or Everything KOHO Mastercard with different benefits.
  • Easy: earn 1% cash back on groceries and transportation and up to 5% cash back with KOHO partners with no monthly fees; 3.00% interest is paid on your balance.
  • KOHO Essential: earn 1% cash back on groceries, restaurants and transportation; earn 0.25% cash back on all other purchases and up to 5% cash back with KOHO partners; earn 5.00% interest on your balance; $4 monthly fee.
  • Extra: earn 2% cash back on groceries, dining out, and transportation, 0.5% cash back on all other purchases, no FX fees, get 1 free international ATM withdrawal per month, price matching feature, earn 5.00% interest on your balance; $9/month or $84/year.
  • Build your credit history for an optional $7 or $10 per month.

Earn interest rate on your balance

Choose a KOHO card that suits your needs

Earn 0.25% to 5% cash back on purchases

Need credit building add-on to grow credit score

Fee for some account tiers

KOHO is a full-service spending and savings account with a prepaid Mastercard that earns you cash back on purchases. You choose your level of cash back with the Easy, Essential or Premium KOHO card. You pay no monthly account fees, get unlimited transactions, and you can earn interest on your balance.

22. Tangerine Money-Back Credit Card

You can earn 0.5% cashback on all your purchases using the Tangerine Money-Back Credit Card as well as 2% in two Money-Back Categories that you can choose. Even better, there’s no limit on the amount of cashback you can earn.

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:
600
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 spending category when you deposit your rewards in a free Tangerine savings account.
  • Unlimited 0.50% cash back on all other purchases.
  • Cash back earned is paid out monthly.
  • 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.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
  • Extended warranty for up to one extra year.

No annual fee

High cash back rates

Low-income requirement

Cash back paid monthly

Low-interest balance transfer

No travel insurance coverage

3% balance transfer fee

The Tangerine Money-Back Credit Card is one of the best cash back credit cards in Canada. It’s great for students and those who have a limited credit history. Cardholders can also enjoy no-fee chequing and a high interest savings account.

23. Scotia Momentum No-Fee Visa Card

For an annual fee of $0, you can earn 0.5% cashback on all your purchases using this card, plus earn 1% cashback at eligible grocery stores, gas stations, drug stores, and recurring payments.

Scotiabank Momentum No-Fee Visa Card

Rewards: Earn 1% cashback on gas, groceries & drugstore purchases; 0.50% cashback on everything else.

Welcome offer: Earn 5% cashback in the first 3 months on up to $2,000 spent ($100 value); introductory 0% interest on balance transfers for the first 6 months.

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

Annual fee: $0

24. SimplyCash Card from American Express

You’ll earn a minimum of 1.25% cashback when you spend on your SimplyCash Card, but you’ll earn 2% on gas and groceries. It also includes a few extra benefits like travel coverage.

SimplyCash Card from American Express

Excellent credit card for students

Annual fee: $0

Rewards: Earn up to 2% cash back on eligible purchases and 1.25% unlimited cashback on other purchases.

Interest rates: 20.99% for purchases, 21.99% for cash advances.

Minimum income requirement: None

Recommended credit score:
660
900

Fair to Good

New SimplyCash_Card-img

On Amex’s website

  • Earn 2% cash back on gas.
  • Earn 2% cash back on groceries up to $300 annually.
  • Earn 1.25% unlimited cashback on other purchases.
  • Earn bonus cashback of up to $750 per year for referring a friend.
  • No annual fee for a primary card or additional cards.
  • Access to American Express® Experiences that provides exclusive bonuses for events, performances, dining, and shopping.
  • Coverage up to $100,000 for Accidental Death and Dismemberment Insurance.

Earn up to 2% cashback

No annual fee

Earn bonus cashback for referring a friend

Access to American Express® Experiences

Lower cashback than some other cards

$300 annual limit on 2% cashback rate for groceries

The SimplyCash Card from American Express provides you with the option to earn up to 2% cash back on gas and groceries plus 1.25% cash back on other purchases. It has no annual fee and comes with a few perks like access to American Express® Experiences.

25. BMO CashBack Mastercard

You’ll enjoy some great earning opportunities with this card, which gives you 3% cashback on groceries, 1% on recurring bill payments, and 0.5% on everything else.

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.

26. American Express Green Card

It may be a no-frills credit card that’s free to use, but I love the Amex Green Card because you can earn points on everyday purchases and additional points on Amex Travel purchases.

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.

27. Triangle World Elite Mastercard

If you want to earn Canadian Tire Money, you can do so easily when you use this card, including up to 4% at several popular stores, including Canadian Tire and Sport Chek.

Triangle World Elite Mastercard

Best for Triangle rewards

Annual fee: $0

Rewards: Earn 4% cash back in Canadian Tire money at eligible stores. Earn 3% cash back in Canadian Tire money at grocery stores. Earn up to 7 cents per litre in Canadian Tire money. Earn 1% 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: $80,000 personal income and $150,000 household income.

Recommended credit score:
760
900

Very Good

Triangle World Elite Mastercard

On Triangle’s website

  • Earn 4% cash back at Canadian Tire stores, including Canadian Tire, Sport Chek, and Mark’s.
  • Earn 7 cents per litre cashback on premium fuel and 5 cents per litre on other fuel at Gas+ and Essence+ gas stations.
  • Earn 3% cash back on groceries (up to $12,000 annually).
  • Earn 1% cash back everywhere else.
  • Roadside Assistance Gold Plan, which includes service calls and towing within Canada and the US.
  • Minimum income requirements of $80,000 personal income and $150,000 household income.

Roadside assistance saves on the cost of CAA membership

No annual fee

Purchase security and extended warranty

Excludes Walmart and Costco from grocery earning rates

High minimum income requirements

Redemption options are limited to retailers that accept Canadian Tire Money

The Triangle World Elite Mastercard is a great no-fee option. Combined with perks such as roadside assistance and extended warranty protection, this card is worth keeping in your wallet for everyday use. 

28. BMO AIR MILES Mastercard

When you shop at partner stores using this card, you will earn 3x the Miles as normal, and you can also earn 2x the Miles on groceries. A great option for all you flyers out there.

BMO Air Miles Mastercard

Entry-level card for Air Miles rewards

Annual fee: $0

Rewards: Get 3X Miles on purchases made at Air Miles partners.

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

Minimum income requirement: $0

Recommended credit score:
660
900

Good

On BMO’s website

  • Earn 3 Miles for every $25 you spend on purchases made at participating Air Miles partners.
  • Earn 2 Miles for every $25 you spend on eligible grocery purchases.
  • Get a 25% discount on rental cars at participating National Car Rental and Alamo Rent a Car locations.
  • Access entertainment benefits like discounted access to Cirque du Soleil shows touring Canada and resident shows in Las Vegas.
  • Redeem Miles for travel, merchandise, or vouchers. 

No annual fee

Up to 3X Miles on select purchases

Attractive Miles redemption options

High purchase APR at 20.99%

Limited insurance benefits

3X Miles category is fairly restricted

The BMO Air Miles Mastercard makes a travel rewards card accessible for those who want to avoid annual fees. With the ability to earn Miles on high-spend categories, it is a great starter card for frequent travelers.

29. Rogers World Elite Mastercard

Earn up to 3% cashback on eligible purchases in U.S. dollars and 1.5% on other purchases using this card, plus get travel benefits like access to over 1,300 airport lounges around the world.

Rogers World Elite Mastercard

Best credit card for USD cash back

Annual fee: $0

Rewards: 3% unlimited cash back in U.S. dollars, 1.5% unlimited cashback on other purchases.

Welcome offer: $25 in cashback on the first purchase made within three months.

Interest rates: 19.99% for purchases, and 22.99% for cash advances

Minimum income requirement: $80,000 minimum income or $150,000 household income.

Recommended credit score:
760
900

Very Good

RogersBank_WorldElite_Card_image

On Rogers’s website

  • Earn 3% cashback for all your spending in U.S. dollars with no limit.
  • Earn 1.5% cash back on all other eligible purchases with no limit.
  • $80,000 minimum income or $150,000 household income requirement.
  • Includes Mastercard Travel Pass membership with access to over 1,300 airport lounges globally.
  • Trip interruption and trip cancellation insurance are included.
  • Extended warranty and purchase protection included.
  • Cover for rental car collision/damage included.
  • Must spend $15,000 each year to remain eligible.

Earn up to 3% cashback

Several travel benefits included

Includes travel insurance coverage

No annual fee

Must spend $15,000 a year to remain eligible

High minimum income requirement

The Rogers World Elite Mastercard offers a lot of benefits with no annual fee. The option to earn 3% cash back on U.S. dollar purchases could make it a great option for anyone who travels to the United States frequently, and the unlimited 1.5% cash back for other shopping makes it a tempting proposition.

30. CIBC Aventura Visa Card

Earn plenty of Aventura Points with this card, with one point for every $1 you spend at grocery stores, drug stores, and gas stations, all for no annual fee.

CIBC Aventura Visa Card

Entry-level credit card for travel rewards

Annual fee: $0

Rewards: Earn CIBC Aventura points on every purchase you make with the card.

Interest rates: 20.99% for purchases and 22.99% for advances for non-Quebec residents and 21.99% for Quebec residents.

Minimum income requirement: $15,000

Recommended credit score:
760
900

Very Good

CIBC Aventura Visa Card For Students

On CIBC’s website

  • Earn 1 Aventura point for every $1.00 spent on gas, groceries, or drug stores.
  • Earn 1 Aventura point for every $1.00 spent on CIBC Rewards travel charges.
  • Earn 1 Aventura point for every $2.00 spent anywhere else.
  • Aventura Travel Assistant for personalized trip planning.
  • Extra protection of up to 90 days on new purchases.
  • Flexible travel with Aventura points that do not expire.
  • Use Aventura points for CIBC Rewards, travel, or paying down your credit card bill.
  • Auto rental collision and Loss Damage Insurance.
  • $100,000 Common Carrier Accident Insurance.
  • Purchase Security and Extended Protection Insurance.
  • CIBC Pace It allows you to buy now and pay at your convenience.

No annual or supplemental fees for up to 3 cards

Earn Aventura points that do not expire

Generous welcome bonus

High-interest rate

Slightly higher eligibility requirements

Limited travel insurance

The CIBC Aventura Visa Card is an excellent free rewards card with slightly higher than normal eligibility requirements. The Aventura point system is flexible and offers a long list of generous rewards and products and best of all the points do not expire.

31. No-Fee Home Trust Preferred Visa Card

Earn 1% cashback on all purchases and forget about foreign exchange fees with this top credit card.

No-Fee Home Trust Preferred Visa Card

Good credit card for fair credit score

Annual fee: $0

Rewards: Earn 1% cash back on every purchase you make with the card.

Interest rates: 19.99% for purchases and cash advances.

Minimum income requirement: $

Recommended credit score:
560
900

Fair to Good

No-Fee Home Trust Preferred Visa Card

On Home Trust’s website

  • Earn 1% cash back on every purchase you make with this card.
  • No foreign exchange fees on international purchases.
  • Visa Zero Liability for protection against unauthorized purchases.
  • Accepted in more than 200 countries and territories around the world.
  • Purchase Security Insurance for up to 90 days from purchase.
  • Guaranteed Hotel Reservations even if you arrive late.
  • Compatible with digital wallets like Apple Pay or Google Pay.

Earn 1% cash back on every purchase

No foreign exchange fees

No annual fees

1% cash back is lower than other cards

Not available to residents of Quebec

The Home Trust No Fee Preferred Visa Rewards Credit Card is a basic 1% cash back card. The hidden value of this credit card is the no foreign exchange fees which makes it an ideal card to use while travelling.

Best Rewards Credit Cards Compared

CardAPR PurchasesAnnual FeeRewards
Scotiabank Passport Visa Infinite Card20.99%$1503x Scene+ points on groceries, 2x points on entertainment, gas, and dining, 1 point for every $1 spent on everything else.
American Express Cobalt Card20.99%$155.88Up to 5x Amex points for dining and delivery purchases
WestJet RBC World Elite Mastercard19.99%$119Earn 1.5% to 2% in WestJet dollars
Tangerine World Mastercard19.95%$02% cashback in two categories, 0.5% on other purchases
Neo Money Card19.99% – 26.99%$0Average of 5% cashback at partners
KOHO Standard Mastercard–$01% to 5% cashback
Tangerine Money-Back Credit Card19.95%$00.5% to 2% cashback
Scotia Momentum No-Fee Visa card19.99%$00.5% to 1% cashback

Methodology

Methodology:

The Savvy New Canadians team assesses the best credit cards based on their annual fees, interest rates, welcome bonuses, rewards, top features, categories, insurance coverage, and other perks. We carefully evaluate each credit card and place more weight on the value of the long-term rewards it offers. Only credit cards we would personally use are recommended. While these credit cards are some of the best on the market, they may not be right for you. Visit the credit card issuer’s website using the links to confirm each product’s terms and conditions before applying.

How Rewards Credit Cards Work

I’ve taken advantage of many rewards cards in my time. No matter the type of reward being offered, they all work more or less the same way.

First, I’ll pick a card based on the reward being offered. I like cashback cards, for example. When I apply for a new card, I’ll compare all the cashback cards on the market and find out which provides the best earning opportunities.

That doesn’t just mean the highest rate overall but the highest rate in a specific category. For example, I spend a lot on groceries, so a card that allows me to earn a higher cashback rate on grocery spending is a good choice.

Once you choose a card, apply and get accepted. You’ll receive your card, and then you can start spending on it.

Depending on the reward, you earn something when you make a purchase. This could be cashback, travel points, or reward points that you can redeem in different ways.

Once you have earned some reward points, you want to redeem them. All credit cards have a slightly different process, but generally, you can redeem your points for travel rewards, discounts, etc., once you have earned a certain number of points.

There may also be restrictions on how frequently you can redeem them, so keep that in mind.

Types of Rewards Credit Cards

There are several types of rewards credit cards you can choose from. I’ve listed some of them above, but here’s a quick rundown of them all:

  • Travel Rewards Credit Cards – If you love travelling like me, earn points with these cards that you can convert into travel-related rewards like hotel and airline discounts.
  • Hotel Rewards Credit Cards – Make a saving on your next hotel break by earning points with one of these cards.
  • Grocery Rewards Credit Cards – I spend a lot on groceries, and these cards allow you to earn more reward points for your grocery purchases.
  • Airline Rewards Credit Cards – Frequent flyer? Earn miles directly or points you can convert into miles with one of these cards.

Not all rewards programs are made equally in Canada. I’ve used nearly all of the different rewards programs in my time, and here are a few of the best:

Aeroplan

Aeroplan is Air Canada’s loyalty program, and you can earn points with several Aeroplan credit cards.

You can redeem these for flights directly with Air Canada and several other airlines, or you can redeem them for other rewards like discounts, gift cards, and merchandise.

American Express Membership Rewards

What I love about American Express Rewards is that you can redeem these points for almost anything. Use your points for cash discounts on whatever you want. You can also redeem them for travel, shopping, and statement credits.

You can even transfer your points to other loyalty programs like Delta SkyMiles and Aeroplan. I love that flexibility.

Scene+ Rewards

Scotiabank’s rewards program is one of the biggest in Canada, and I use it all the time. It is very flexible, and you can earn Scene+ points.

I’ve redeemed points for travel, groceries, movies, entertainment, and lots more. There are loads of partners you can shop at and earn more points.

PC Optimum

This is Loblaw’s loyalty program. Again, it’s very flexible, and you can earn points for food, essentials, and gas. 10,000 points are equal to about $10 in discounts.

Air Miles

If you love travelling, earn air miles when you spend on your credit card with this reward program.

You can redeem them at major airlines like Air Canada and Delta, and they are not just for airlines: you can also use Cash Miles for discounts, with 95 miles equal to a $10 saving.

Pros of Rewards Credit Cards

  • A wide range of rewards programs are available, so you can choose the type of reward that interests you most, from travel rewards to cashback.
  • Many rewards credit cards have no annual fees.
  • Redeeming points is quick and easy to do.
  • Applying for rewards credit cards is quick and straightforward.

Cons of Rewards Credit Cards

  • Some rewards credit cards have eligibility requirements like a minimum income you must meet.
  • Credit cards with the best rewards may have higher annual fees.

How to Choose the Best Rewards Credit Card in Canada

By now, you’ve probably got the message that there are a lot of rewards credit cards in Canada to choose from. So how should you make your choice?

Everyone has their personal preference, but I would recommend something like this.

Decide what type of reward you are most interested in earning (cashback, for example). This will help you to narrow down your choices considerably.

Don’t forget that some reward programs like American Express Rewards allow you to get cash discounts or convert your points to other loyalty programs.

Once you have your category, research the cards. There are a lot of cashback cards to choose from, so explore their rates. For example, some provide 0.5% on everything, while others have 2% or more.

Look at the categories where you can earn more cashback or rewards points. For example, if you primarily spend on groceries, a cashback card that allows you to earn more cashback for grocery shopping makes sense.

Check the other details, too, including the interest rates and the annual fee. Some are free, while some can be expensive. Use these to make your decision, and when you’re ready, apply.

How to Apply for a Rewards Credit Card

Now you’ve hopefully chosen a suitable rewards credit card, it’s time to apply. You’ve looked at all the details, including the costs, interest rates, etc., but before you apply, check the requirements.

The card may have minimum income requirements, and you may need a credit score of 660 or more. However, some cards are more lenient.

If you meet the requirements, the application process is usually easy. You should be able to apply online in minutes by answering any questions regarding your earnings, etc. Alternatively, you may be able to apply over the phone or at your local branch.

Many cards will approve or deny your application instantly, but some may take longer. If your application is approved, you can wait for your card to arrive and start earning rewards points.

FAQs

What credit card gives the most travel rewards?

In general, premium credit cards provide more travel rewards when you use them for your general spending. With some, you can earn more rewards when you spend on flights, hotels, and other travel-related purchases.

Are Amex points better than Aeroplan?

Both are good loyalty programs. However, one advantage of Amex points is that you can use them to get discounts on almost anything and even convert them to other rewards programs.

Who is Amex’s biggest competitor?

Amex’s largest competitors are Visa and Mastercard.

Which card has the best rate in Canada?

Interest rates change all the time. However, if you search for a low-interest credit card, you may be able to find some cards with APRs of about 12%.

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Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

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