A rewards credit card is a great option if you prioritize points over APR. These cards often provide enhanced points on bonus categories, insurance protections, and, depending on the annual fee, travel perks to make your jetlag melt away.
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The best rewards cards provide high earn rates, exclusive benefits and discounts, and travel perks to die for.
Credit cards don’t exist solely to help you spend money. The best rewards credit cards in Canada will let you earn points with regular shopping. The key is to choose a rewards card with the best points-earning potential and a solid and worthwhile rewards program that suits your lifestyle (and yes, the perks and privileges are pretty nice, too).
Here's our list of best rewards credit cards in Canada based on our methodology below. And don't forget to check out our Best Credit Cards Canada list when you're done here.
Money.ca rates all credit cards on a numeric scale of 1 to 5 stars, with 1 being the lowest and 5 the highest rating, respectively. Money.ca’s proprietary scoring formulas break down the confusing language, complex points, rewards and earn rates to give you the real data that caters to your needs first, not ours.
Our partnerships have no impact on our ratings, which are solely determined by the merits of each card. To learn more about how we researched and ranked these cards, read our full credit card review methodology.
want to maximize your Aeroplan points with great offers
want comprehensive travel insurance to ensure peace of mind
Annual Fee & Annual Interest Rates
$599
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
Our Take
The TD® Aeroplan® Visa Infinite Privilege* Card is a premium travel rewards credit card tailored for frequent Air Canada travelers, offering elevated Aeroplan points on direct Air Canada purchases, as well as on eligible gas, grocery, travel, and dining expenses. Cardholders benefit from perks such as a NEXUS application fee rebate, complimentary first checked bag for the primary cardholder and up to eight companions on Air Canada flights, and access to select airport lounges; however, the card carries a substantial annual fee and requires a high personal or household income for eligibility.
Welcome bonus up to $3,000 in value† including up to 85,000 Aeroplan points†
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
Priority Airport Services† like Boarding, Baggage Handling, and Priority Boarding
High Aeroplan® earn rates, double points on eligible Air Canada purchases
Extensive travel insurance benefits
Free checked bags on Air Canada
Preferred Pricing on Aeroplan® flight rewards
Visa Infinite Privilege* designation perks (e.g. DragonPass membership)
Up to $100 CAD NEXUS credit†
Troon Rewards Platinum status benefit
Cons
Steep annual fee of $599
High eligibility requirements ($150,000 personal or $200,000 household income)
Additional cardholder fee of $199
High-value rewards mainly for Air Canada flights
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
Fees
$599
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards
Aeroplan
2 points†
Earn 2 points† for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.
1.5 points†
Earn 1.5 points† for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.
1.25 points†
Earn 1.25 points† for every $1 you charge to your Card on all other purchases.
6
Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†
2x
Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore
50%
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
$100
Get a NEXUS application fee rebate up to $100 (CAD) every 48 months.†
1st
Get your 1st checked bag free for you and up to eight companions† when your travel originates on an Air Canada flight.
10%
Get 10% savings at Avis and Budget in North America, 5% off internationally†
Insurance Benefits
$1,500
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to $3,000 in value† including up to 85,000 Aeroplan points (enough for a round trip to Honolulu†) and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
Earn a welcome bonus of 20,000 Aeroplan points when you make your first Purchase with your new Card†
Earn an additional 35,000 Aeroplan points when you spend $12,000 within 180 days of Account opening†
Plus, earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of Account opening†
Additional Travel Benefits
Enroll for NEXUS and once every 48 months get a partial application fee rebate†
Share first free checked bags with up to 8 travel companions† and get unlimited access to Maple Leaf Lounges† including complementary access for one guest.
Plus, primary cardholders get 6 complimentary worldwide select airport lounge visits annually through the Visa Airport Companion Program†
Starbucks Bonus Offer for New Linked Members†: Link your TD Aeroplan Visa Infinite to earn 600 Starbucks Stars and redeem them for free Starbucks treats. Limited time only. Conditions and restrictions apply.
Our Take
The TD® Aeroplan® Visa Infinite Privilege* Card is a premium travel rewards credit card tailored for frequent Air Canada travelers, offering elevated Aeroplan points on direct Air Canada purchases, as well as on eligible gas, grocery, travel, and dining expenses. Cardholders benefit from perks such as a NEXUS application fee rebate, complimentary first checked bag for the primary cardholder and up to eight companions on Air Canada flights, and access to select airport lounges; however, the card carries a substantial annual fee and requires a high personal or household income for eligibility.
Welcome bonus up to $3,000 in value† including up to 85,000 Aeroplan points†
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
Priority Airport Services† like Boarding, Baggage Handling, and Priority Boarding
High Aeroplan® earn rates, double points on eligible Air Canada purchases
Extensive travel insurance benefits
Free checked bags on Air Canada
Preferred Pricing on Aeroplan® flight rewards
Visa Infinite Privilege* designation perks (e.g. DragonPass membership)
Up to $100 CAD NEXUS credit†
Troon Rewards Platinum status benefit
Cons
Steep annual fee of $599
High eligibility requirements ($150,000 personal or $200,000 household income)
Additional cardholder fee of $199
High-value rewards mainly for Air Canada flights
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
Fees
$599
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards
Aeroplan
2 points†
Earn 2 points† for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.
1.5 points†
Earn 1.5 points† for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.
1.25 points†
Earn 1.25 points† for every $1 you charge to your Card on all other purchases.
6
Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†
2x
Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore
50%
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
$100
Get a NEXUS application fee rebate up to $100 (CAD) every 48 months.†
1st
Get your 1st checked bag free for you and up to eight companions† when your travel originates on an Air Canada flight.
10%
Get 10% savings at Avis and Budget in North America, 5% off internationally†
Insurance Benefits
$1,500
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to $3,000 in value† including up to 85,000 Aeroplan points (enough for a round trip to Honolulu†) and additional travel benefits. Conditions Apply. Offer effective as of January 7, 2025.
Earn a welcome bonus of 20,000 Aeroplan points when you make your first Purchase with your new Card†
Earn an additional 35,000 Aeroplan points when you spend $12,000 within 180 days of Account opening†
Plus, earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of Account opening†
Additional Travel Benefits
Enroll for NEXUS and once every 48 months get a partial application fee rebate†
Share first free checked bags with up to 8 travel companions† and get unlimited access to Maple Leaf Lounges† including complementary access for one guest.
Plus, primary cardholders get 6 complimentary worldwide select airport lounge visits annually through the Visa Airport Companion Program†
Starbucks Bonus Offer for New Linked Members†: Link your TD Aeroplan Visa Infinite to earn 600 Starbucks Stars and redeem them for free Starbucks treats. Limited time only. Conditions and restrictions apply.
The TD Aeroplan Visa Infinite Privilege Card shines thanks to its huge welcome offer. Those stats and insurance coverage heavily favor the card but there’s plenty more to love.
For starters, the card features a very competitive earn rate on travel purchases with solid points in key everyday categories like dining and groceries, both areas where the average consumer spends heavily. There is also the slew of Air Canada benefits, like priority boarding, priority baggage handling, and access to Maple Leaf Lounges while in Canada. Cardholders even get their first bag free on Air Canada flights - a perk that extends to up to eight passengers on the same itinerary.
Key features:
Welcome bonus: Earn up to $3,000 in value† including up to 85,000 Aeroplan points†. Conditions Apply. Offer effective as of January 7, 2025.
Earn rates: Earn 2 points† for every $1 spent on eligible purchases made direct through Air Canada® purchases (including Air Canada Vacations®); 1.5 points† on eligible gas, groceries, travel and dining purchases; and 1.25 points† on all other purchases
Travel benefits: Maple Leaf Lounges access, priority boarding and baggage with Air Canada, first checked bag free with Air Canada, NEXUS application credits and preferred pricing with Air Canada.
Insurance coverage: Extensive coverage, including travel accident insurance, baggage delay, trip interruption/cancellation insurance, rental car coverage, hotel burglary insurance, extended warranty, price protection and more.
TD Aeroplan VIP pros and cons
Pros
Welcome bonus up to $3,000 in value† including up to 85,000 Aeroplan points†
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
Priority Airport Services† like Boarding, Baggage Handling, and Priority Boarding
High Aeroplan® earn rates, double points on eligible Air Canada purchases
Extensive travel insurance benefits
Free checked bags on Air Canada
Preferred Pricing on Aeroplan® flight rewards
Visa Infinite Privilege* designation perks (e.g. DragonPass membership)
Up to $100 CAD NEXUS credit†
Troon Rewards Platinum status benefit
Cons
Steep annual fee of $599
High eligibility requirements ($150,000 personal or $200,000 household income)
Additional cardholder fee of $199
High-value rewards mainly for Air Canada flights
TD Aeroplan Visa infinite disclosures:
This offer is not available for residents of Quebec. For Quebec residents, please click here.
The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button. Sponsored Content.
†Terms and conditions apply.
Best sign-up bonus
Best rewards credit card in Canada with a welcome bonus
fly with Air Canada and want priority boarding and lounge access
looking to earn Aeroplan points faster through higher earn rates
want comprehensive travel insurance to ensure peace of mind
Annual Fee & Annual Interest Rates
$599
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The American Express® Aeroplan®* Reserve Card is a premium travel credit card tailored for frequent Air Canada travelers, offering elevated rewards on Air Canada purchases and dining, along with comprehensive travel benefits such as priority airport services and lounge access. Cardholders also enjoy extensive insurance coverage and an annual worldwide companion pass, enhancing both the value and convenience of their travel experiences.
Generous signup bonus where you can earn up to 85,000 Aeroplan points
High earn rates on Air Canada, dining, and food delivery
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
Complimentary access to select Air Canada Maple Leaf Lounges within North America
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
$100 NEXUS statement credit every 4 years
Robust insurance coverage including emergency medical
Access to Amex Experiences such as movie premieres
No minimum income requirement
Cons
High annual fee of $599
Lower acceptance when compared to Visa and Mastercard
High spending to unlock signup bonus
Limited high-earning categories
2.5% foreign transaction fee
Priority perks limited to Air Canada flights
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$599
Annual Fee
$2.5
Foreign Transaction
Rewards
Aeroplan
3X
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
2X
the points on eligible Dining and Food Delivery purchases in Canada
1.25X
the points on everything else
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn 60,000 Aeroplan®* points* after spending $7,500 on your Card within the first 3 months as a new Cardmember.*
Plus, earn 25,000 Aeroplan®* points* when you spend $2,500 in month 13.*
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Our Take
The American Express® Aeroplan®* Reserve Card is a premium travel credit card tailored for frequent Air Canada travelers, offering elevated rewards on Air Canada purchases and dining, along with comprehensive travel benefits such as priority airport services and lounge access. Cardholders also enjoy extensive insurance coverage and an annual worldwide companion pass, enhancing both the value and convenience of their travel experiences.
Generous signup bonus where you can earn up to 85,000 Aeroplan points
High earn rates on Air Canada, dining, and food delivery
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
Complimentary access to select Air Canada Maple Leaf Lounges within North America
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
$100 NEXUS statement credit every 4 years
Robust insurance coverage including emergency medical
Access to Amex Experiences such as movie premieres
No minimum income requirement
Cons
High annual fee of $599
Lower acceptance when compared to Visa and Mastercard
High spending to unlock signup bonus
Limited high-earning categories
2.5% foreign transaction fee
Priority perks limited to Air Canada flights
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$599
Annual Fee
$2.5
Foreign Transaction
Rewards
Aeroplan
3X
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
2X
the points on eligible Dining and Food Delivery purchases in Canada
1.25X
the points on everything else
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn 60,000 Aeroplan®* points* after spending $7,500 on your Card within the first 3 months as a new Cardmember.*
Plus, earn 25,000 Aeroplan®* points* when you spend $2,500 in month 13.*
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
The American Express® Aeroplan®* Reserve Card is a premium airline with exceptional overall value. The card comes with a massive welcome bonus up to 85,000 points (Aeroplan®* points*), offers a high earn rate on dining and Air Canada travel, and features a huge array of premium travel benefits and insurance protections.
Key features:
Welcome bonus: Earn up to 30,000 Welcome Bonus Aeroplan®* points
Earn rates: Earn 2x Aeroplan points on eligible Air Canada®* and Air Canada Vacations®* purchases, 1.5x Aeroplan points on eligible dining and food delivery purchases in Canada and 1x Aeroplan point on all other purchases
Insurance coverage: Flight delay and cancellation insurance, travel accident insurance, car rental protection, hotel burglary insurance and more.
Amex Aeroplan pros and cons
Pros
Generous signup bonus where you can earn up to 85,000 Aeroplan points
High earn rates on Air Canada, dining, and food delivery
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
Complimentary access to select Air Canada Maple Leaf Lounges within North America
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
$100 NEXUS statement credit every 4 years
Robust insurance coverage including emergency medical
Access to Amex Experiences such as movie premieres
No minimum income requirement
Cons
High annual fee of $599
Lower acceptance when compared to Visa and Mastercard
High spending to unlock signup bonus
Limited high-earning categories
2.5% foreign transaction fee
Priority perks limited to Air Canada flights
Amex Aeroplan Reserve disclosures:
*Terms and conditions apply
Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
want to earn rewards on everyday purchases such as groceries
value flexible redemption options
want to avoid paying any annual fees
Annual Fee & Annual Interest Rates
$0
Annual Fee
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The MBNA Rewards Platinum Plus® Mastercard® is a no-annual-fee credit card that allows cardholders to earn rewards points on everyday purchases, with accelerated rates in categories such as groceries, restaurants, digital media, memberships, and household utilities. These points can be redeemed flexibly for travel, merchandise, gift cards, or cash back, providing versatility to suit various spending habits and preferences.
Accelerated rewards on groceries, restaurants, and more
Simple point structure with flexible redemption options
Generous introductory bonus of up to 10,000 points
No cap on total points earned
Cons
Lower cash back redemption rate compared to designated cash back cards
Limited benefits beyond rewards
Points system may not appeal to cash back enthusiasts
Higher earning categories have a spending cap of $10,000 annually
Better suited for travel rewards than cash back
Annual Interest Rates
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards
MBNA Rewards
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Insurance Benefits
$1,000
Mobile device insurance amount
New cardholders can get up to 10,000 MBNA Rewards points †† when they sign up for paperless e-statements (5K points ††) and make $500 or more in purchases within the first 90 days (another 5K points ††).
Our Take
The MBNA Rewards Platinum Plus® Mastercard® is a no-annual-fee credit card that allows cardholders to earn rewards points on everyday purchases, with accelerated rates in categories such as groceries, restaurants, digital media, memberships, and household utilities. These points can be redeemed flexibly for travel, merchandise, gift cards, or cash back, providing versatility to suit various spending habits and preferences.
Accelerated rewards on groceries, restaurants, and more
Simple point structure with flexible redemption options
Generous introductory bonus of up to 10,000 points
No cap on total points earned
Cons
Lower cash back redemption rate compared to designated cash back cards
Limited benefits beyond rewards
Points system may not appeal to cash back enthusiasts
Higher earning categories have a spending cap of $10,000 annually
Better suited for travel rewards than cash back
Annual Interest Rates
19.99%
Purchase
24.99%
Cash Advance
22.99%
Balance Transfer
Fees
$0
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards
MBNA Rewards
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Insurance Benefits
$1,000
Mobile device insurance amount
New cardholders can get up to 10,000 MBNA Rewards points †† when they sign up for paperless e-statements (5K points ††) and make $500 or more in purchases within the first 90 days (another 5K points ††).
The MBNA Rewards Platinum Plus® Mastercard® is an overlooked gem among rewards cards in Canada and could be an ideal fit for anyone who is averse to paying an annual fee and whose biggest spending categories are groceries, restaurants, subscriptions and utilities.
The MBNA Rewards Platinum Plus® Mastercard’s welcome offer is generous. After the welcome bonus period ends the rate drops to a still-high 2 points‡ per $1 spent in those categories. These enhanced earn rates are applicable for up to $$10,000 per year in purchases annually in each of those individual spending categories after which all purchases will earn 1 point‡ per $1 spent until the beginning of a new year.
Key features:
Annual fee: $0
Welcome offer: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.††
Regular earn rates: Earn 2 MBNA Rewards points for every $1 spent†† in several categories, including groceries, restaurants, digital media, memberships, and household utilities. and 1 MBNA Rewards point on all other purchases
Birthday Bonus Points: In your annual birthday month‡ you’ll receive an extra 10% of the total points you earned in the previous year (max 10K Birthday Bonus Points annually)
Accelerated rewards on groceries, restaurants, and more
Simple point structure with flexible redemption options
Generous introductory bonus of up to 10,000 points
No cap on total points earned
Cons
Lower cash back redemption rate compared to designated cash back cards
Limited benefits beyond rewards
Points system may not appeal to cash back enthusiasts
Higher earning categories have a spending cap of $10,000 annually
Better suited for travel rewards than cash back
MBNA Rewards Platinum Plus disclosures:
‡, ††, ✪, ***, Terms and Conditions apply.
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
The PC Financial® World Elite Mastercard® is a no-annual-fee credit card designed for frequent shoppers at Loblaw-affiliated stores, offering elevated PC Optimum points on purchases at these retailers, including Shoppers Drug Mart and Joe Fresh. Cardholders benefit from perks such as 24/7 concierge service and travel emergency medical insurance; however, the card has a high income requirement, and its rewards are primarily limited to Loblaw banner stores.
Points don’t expire provided your account stays active and in good standing
Special events allow you to earn extra points
Cons
High income requirement to qualify
Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
Points can’t be transferred to other loyalty programs
The included travel insurance is very limited
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Fees
$0
Annual Fee
Rewards
PC points
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
Insurance Benefits
$65,000
Rental car insurance amount
Our Take
The PC Financial® World Elite Mastercard® is a no-annual-fee credit card designed for frequent shoppers at Loblaw-affiliated stores, offering elevated PC Optimum points on purchases at these retailers, including Shoppers Drug Mart and Joe Fresh. Cardholders benefit from perks such as 24/7 concierge service and travel emergency medical insurance; however, the card has a high income requirement, and its rewards are primarily limited to Loblaw banner stores.
Points don’t expire provided your account stays active and in good standing
Special events allow you to earn extra points
Cons
High income requirement to qualify
Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
Points can’t be transferred to other loyalty programs
The included travel insurance is very limited
Annual Interest Rates
21.99%
Purchase
22.97%
Cash Advance
5%
Balance Transfer
Fees
$0
Annual Fee
Rewards
PC points
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
Insurance Benefits
$65,000
Rental car insurance amount
When you compare rewards credit cards in Canada — particularly those with a $0 annual fee — you’ll find that few cards offer a meaningful points rate outside of the promo period. And, while many retailers in Canada have a loyalty program, only a handful have a co-branded credit card. With the PC® World Elite Mastercard®, you earn 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix, and 30 points per $1 spent at Loblaw Banner Grocery Stores.
According to Globe and Mail research, the average Canadian family will spend around $16,300 on groceries each year - a truly staggering sum! With the PC World Elite Mastercard that same family would stand to earn at least 489,000 PC Optimum points, or about $489 in cash back each year.
PC Mastercard pros and cons
Pros
No annual fee
High earn rates in certain stores
Easy, straightforward redemptions
Points don’t expire provided your account stays active and in good standing
Special events allow you to earn extra points
Cons
High income requirement to qualify
Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
Points can’t be transferred to other loyalty programs
The included travel insurance is very limited
PC World Elite disclosures:
Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.
want exclusive travel benefits like no foreign exchange fees
need comprehensive travel insurance benefits
want to access exclusive Amex offers
Annual Fee & Annual Interest Rates
$120
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Our Take
The Scotiabank Gold American Express® Card is a rewards credit card that offers accelerated earn rates on categories such as groceries, dining, and entertainment. It also provides benefits like no foreign transaction fees and comprehensive travel insurance, making it suitable for both everyday spending and international use.
Lots of daily spend options to earn multiplied point bonuses
Swanky Amex perks like Front of the Line presale concert tickets
Save on foreign transaction fees when abroad
Fantastic insurance coverage, especially for travel
Cons
Relatively low-value welcome bonus
$120 annual fee that chews into your point value substantially
Scene points redeem poorly for travel
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$120
Annual Fee
$0
Foreign Transaction
Rewards
Scene+
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points for every $1 CAD you spend in Canada on eligible select streaming services
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance Benefits
$1,000
Mobile device insurance amount
$1,000,000
Emergency medical insurance amount
$3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.
To qualify for these offers make sure to open a new Scotiabank Gold American Express credit card account (“Account”) opened between January 3, 2025 and July 1, 2025
To qualify for the 40,000 bonus Scene+ points offer: 1. Earn 20,000 bonus Scene+ points by making at least $2,000 in everyday eligible purchases in your first 3 months. 2. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Once you qualify, your account will be credited in 2 instalments: 1. 20,000 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after the qualifying $2,000 in eligible purchases being posted to your Account within the first 3 months of Account opening. 2. An additional 20,000 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after you have met the $7,500 annual spend threshold in your Account in your first year.
Note: For joint Accounts, the applicable bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases in the case of the 20,000 Point Bonus and the Additional 20,000 Point Bonus.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for this offer.
See terms and conditions for full details.
Our Take
The Scotiabank Gold American Express® Card is a rewards credit card that offers accelerated earn rates on categories such as groceries, dining, and entertainment. It also provides benefits like no foreign transaction fees and comprehensive travel insurance, making it suitable for both everyday spending and international use.
Lots of daily spend options to earn multiplied point bonuses
Swanky Amex perks like Front of the Line presale concert tickets
Save on foreign transaction fees when abroad
Fantastic insurance coverage, especially for travel
Cons
Relatively low-value welcome bonus
$120 annual fee that chews into your point value substantially
Scene points redeem poorly for travel
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
22.99%
Balance Transfer
Fees
$120
Annual Fee
$0
Foreign Transaction
Rewards
Scene+
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points for every $1 CAD you spend in Canada on eligible select streaming services
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance Benefits
$1,000
Mobile device insurance amount
$1,000,000
Emergency medical insurance amount
$3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.
To qualify for these offers make sure to open a new Scotiabank Gold American Express credit card account (“Account”) opened between January 3, 2025 and July 1, 2025
To qualify for the 40,000 bonus Scene+ points offer: 1. Earn 20,000 bonus Scene+ points by making at least $2,000 in everyday eligible purchases in your first 3 months. 2. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Once you qualify, your account will be credited in 2 instalments: 1. 20,000 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after the qualifying $2,000 in eligible purchases being posted to your Account within the first 3 months of Account opening. 2. An additional 20,000 bonus Scene+ points will be credited to the applicable Scene+ membership account approximately 8 weeks after you have met the $7,500 annual spend threshold in your Account in your first year.
Note: For joint Accounts, the applicable bonus will be credited to the Scene+ account linked to the Account of the borrower that completed the last transaction to meet the qualifying amount of eligible purchases in the case of the 20,000 Point Bonus and the Additional 20,000 Point Bonus.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switch from an existing Scotiabank personal credit card, as well as employees of Scotiabank, are not eligible for this offer.
See terms and conditions for full details.
The Scotiabank Gold American Express® Card is one of the few rewards cards that really pays you back for the everyday spending you make at home, as well as cutting you a break on what you spend while travelling overseas.
It offers very high earn rates on what are likely your biggest daily spending categories, nabbing 6 X Scene+ points for each $1 CAD spent at eligible grocers like Sobeys¹ (as well as 5X per $1 CAD on dining, other grocery stores, and entertainment) and 3X points for every $1 CAD spent on eligible gas, daily transit and select streaming purchases. It’s also one of the few cards in Canada that waives foreign transaction fees, saving you money every time you make a purchase in a foreign currency.
Key features:
Sign-up bonus: Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.
No foreign transaction fees: Most rewards cards charge 2.5% every time you make a purchase in a foreign currency
High earn rates: Earn 6 X Scene+ points for each $1 CAD spent at eligible grocers like Sobeys¹ (as well as 5X per $1 CAD on dining, other grocery stores, and entertainment) and 3X points for every $1 CAD spent on eligible gas, daily transit and select streaming purchases.
Comprehensive travel insurance: Includes standout coverage like up to $500 for lost or delayed luggage
Scotiabank Gold Amex pros and cons
Pros
Lots of daily spend options to earn multiplied point bonuses
Swanky Amex perks like Front of the Line presale concert tickets
Save on foreign transaction fees when abroad
Fantastic insurance coverage, especially for travel
Cons
Relatively low-value welcome bonus
$120 annual fee that chews into your point value substantially
Scene points redeem poorly for travel
Scotiabank Gold American Express disclosures:
Conditions Apply. Visit here for the Scotiabank Gold American Express® Card to learn more.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Best dining
Best dining credit card with points earning potential
are a high earner, looking to earn rewards on everyday spending
want benefits like lounge access and an annual lifestyle credit
want comprehensive insurance coverage
Annual Fee & Annual Interest Rates
$599
Annual Fee
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Our Take
The BMO eclipse Visa Infinite Privilege* Card is a premium rewards credit card offering elevated earn rates on categories such as groceries, dining, drugstore purchases, gas, and travel. Cardholders benefit from an annual lifestyle credit, Visa Airport Companion membership with complimentary lounge visits and comprehensive insurance coverage.
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
High annual fee
High eligibility requirements
The welcome bonus is not awarded immediately
High rewards earning rate reduces after $50,000 spend
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$599
Annual Fee
Rewards
BMO Rewards
5
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
1
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
$200
Get a $200 anniversary lifestyle credit to use however you want.
Insurance Benefits
$1,000
Mobile device insurance amount
$3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
50,000 points when you spend $6,000 in the first 3 months, plus 30,000 points when you spend at least $30,000 in the first 6 months. Receive an additional 40,000 points when you spend at least $75,000 in the first year.
Our Take
The BMO eclipse Visa Infinite Privilege* Card is a premium rewards credit card offering elevated earn rates on categories such as groceries, dining, drugstore purchases, gas, and travel. Cardholders benefit from an annual lifestyle credit, Visa Airport Companion membership with complimentary lounge visits and comprehensive insurance coverage.
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
High annual fee
High eligibility requirements
The welcome bonus is not awarded immediately
High rewards earning rate reduces after $50,000 spend
Annual Interest Rates
21.99%
Purchase
23.99%
Cash Advance
23.99%
Balance Transfer
Fees
$599
Annual Fee
Rewards
BMO Rewards
5
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
1
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
$200
Get a $200 anniversary lifestyle credit to use however you want.
Insurance Benefits
$1,000
Mobile device insurance amount
$3
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$2,500
Hotel burglary insurance
$85,000
Rental car insurance amount
50,000 points when you spend $6,000 in the first 3 months, plus 30,000 points when you spend at least $30,000 in the first 6 months. Receive an additional 40,000 points when you spend at least $75,000 in the first year.
If you’re a fan of saving big on restaurants and groceries, look no farther than the BMO eclipse Visa Infinite* Card. This newer card is making a big splash on Canada’s credit card scene thanks to its incredibly high accelerated earn rate categories for groceries and dining. The card gives you 5 BMO Rewards for every $1 spent on items that fall within the card’s grocery and dining categories*.
The dining and grocery categories include things like specialty food stores, fast-food restaurants, bars and even subscription food services like Hello Fresh — which pretty much covers all the food bases imaginable and is enough to satisfy even the most fervent foodie.
The BMO eclipse Visa Infinite* Card also features two more high-earn categories of gas and transit that will get you 5 BMO Rewards points per $1 spent*. The points can then be redeemed for a variety of things like merchandise, travel, gift cards, and statement credit.
Key features:
Annual fee: $120 (Annual fee waived in the first year)*
Welcome bonus: Get up to 60,000 points worth $400 in travel rewards, a $50 lifestyle credit and the $120 annual fee waived in the first year - that's a $570 value in your first anniversary!*
Highest earn rate: 5x the points for every $1 spent on groceries, gas, dining in and out and transit*
Other perks: 10% more points when you add an authorized user to your account*.
BMO eclipse Visa Infinite pros and cons
Pros
Strong welcome bonus
High rewards earning rate*
Earn more when you add supplemental cards*
Annual lifestyle credit of $200*
Mobile device insurance*
Extensive travel insurance*
Extended warranty and purchase assurance*
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
High annual fee
High eligibility requirements
The welcome bonus is not awarded immediately
High rewards earning rate reduces after $50,000 spend
BMO eclipse Visa Infinite disclosures:
*Terms and conditions apply.
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Best ultra premium
Best rewards credit card in Canada for perks and privileges
are a frequent traveler who wants luxury perks like lounge access
want to rack up rewards quickly
want great travel insurance, perks and concierge services
Annual Fee & Annual Interest Rates
$799
Annual Fee
21.99% - 28.99%
Purchase
Our Take
The American Express Platinum Card® is a premium travel rewards credit card offering elevated Membership Rewards® points on eligible purchases, with a substantial welcome bonus for new cardholders. Cardholders enjoy exclusive benefits such as access to over 1,300 airport lounges worldwide through the American Express Global Lounge Collection™, comprehensive travel insurance, and personalized concierge services.
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
High annual fee of $799, one of the heftiest among Canadian cards
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
Requires good to excellent credit for eligibility
Annual Interest Rates
21.99% - 28.99%
Purchase
30.00%
Penalty
Fees
$799
Annual Fee
$2.5
Foreign Transaction
$45
Return Penalty
Rewards
Membership Rewards
2x
points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
1x
point for every $1 in all other Card purchases
1
additional point on Amex Travel Online for eligible hotel or car rental bookings
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn 70,000 Membership Rewards® points after spending $10,000 on your Card within your first 3 months as a new Platinum® Cardmember. That’s $700 towards your next flight.
Plus, earn 30,000 points* when you make a purchase between 14 and 17 months of Cardmembership.* That’s $300 towards dinner out with friends.
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Our Take
The American Express Platinum Card® is a premium travel rewards credit card offering elevated Membership Rewards® points on eligible purchases, with a substantial welcome bonus for new cardholders. Cardholders enjoy exclusive benefits such as access to over 1,300 airport lounges worldwide through the American Express Global Lounge Collection™, comprehensive travel insurance, and personalized concierge services.
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
High annual fee of $799, one of the heftiest among Canadian cards
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
Requires good to excellent credit for eligibility
Annual Interest Rates
21.99% - 28.99%
Purchase
30.00%
Penalty
Fees
$799
Annual Fee
$2.5
Foreign Transaction
$45
Return Penalty
Rewards
Membership Rewards
2x
points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
1x
point for every $1 in all other Card purchases
1
additional point on Amex Travel Online for eligible hotel or car rental bookings
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn 70,000 Membership Rewards® points after spending $10,000 on your Card within your first 3 months as a new Platinum® Cardmember. That’s $700 towards your next flight.
Plus, earn 30,000 points* when you make a purchase between 14 and 17 months of Cardmembership.* That’s $300 towards dinner out with friends.
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Whoa, that annual fee is high, but it's the credits, perks and privileges you get with this card that give it a spot on this page.
A bring down the annual fee substantially.
Then, you get Priority Pass access to airport lounges around the world, extensive insurance coverage, and hotel perks like status upgrades and VIP treatment at airports (like rental car insurance for cars up to $85,000) and you gotta love this card.
Key features:
Welcome bonus: Earn 70,000 Membership Rewards® points* after spending $10,000 on your Card within your first 3 months as a new Platinum® Cardmember.*
Earn rates: Earn 2X points on eligible dining and food delivery purchases in Canada, 2X points on travel from eligible flights, hotels, tours and more and 1X point on everything else. Earn 1 additional point on eligible hotel or car rental bookings at Amex Travel
Premium perks: $100 NEXUS◊ statement credit, unlimited Priority Pass airport lounge access, $200 annual dining credit, $200 annual travel credit, premium benefits at the Toronto Pearson Airport including security bypass, complimentary valet car service and discount car care and parking.
Insurance: Comprehensive travel and lifestyle insurance protections
The Platinum Card pros and cons
Pros
Access to a wide range of luxury perks, including premium concierge service
Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
High annual fee of $799, one of the heftiest among Canadian cards
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
Requires good to excellent credit for eligibility
Platinum Card disclosures:
Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Expert tip: Get a Canadian rewards credit card before making a big purchase
Signing up for a rewards credit card when you need to make a large purchase is an easy way to earn your bonus welcome offer. One of the biggest lessons in money is to make your money work for you, so why not apply that same principle to credit cards? Sure, rewards credit cards tend to cost more than the free ones but when used regularly (and properly) these credit cards can also be lucrative in terms of earning points for travel, merchandise, gift cards, or cash back. Keep your eye out for big welcome bonus deals and plan around large purchases to maximize your reward opportunities and earn your rewards points faster.
A rewards credit card is a type of credit card that allows you to earn cash back, travel rewards, or store rewards. The type of rewards you earn depends on the card. In addition, how many rewards you can get depends on the earning rate of the card. Some cards provide you with an increased earning rate on some categories, while others give you a flat rate regardless of where you shop.
Whenever you make an eligible purchase with a rewards credit card, you’ll earn points, miles, or cash back. Typically, non-purchases where you still use your credit card, such as cash advances, gambling sites, casinos, and lottery tickets, wouldn’t earn you any rewards. If you ever need to make a refund, the rewards you earned will be deducted from your account.
Perks vs. rewards
Difference between credit card perks and rewards
When considering which perks or rewards are right for you, it’s important to understand the difference first:
Aspect
Credit Card Rewards
Credit Card Perks
Definition
Points, miles, or cash back earned based on card spending
Additional benefits and services provided to cardholders
Earning Mechanism
Typically earned as a percentage of spending or fixed points per dollar
Usually included with the card, regardless of spending
Value Calculation
Can often be calculated directly (e.g., 2% cash back = $2 per $100 spent)
Value can be more subjective and based on individual usage
Redemption
Requires active redemption by the cardholder
Generally available for use without redemption
Flexibility
Can often be redeemed for various options (travel, cash back, merchandise)
Specific services or benefits with predetermined value
Transferability
Some rewards programs allow point transfers to other loyalty programs
Generally non-transferable and limited to the primary cardholder
A perk is a benefit that’s included with your credit card, something such as access to airport lounges, status matching in a loyalty program, car rental upgrades, free nights at hotels (or fourth night free), roadside assistance, travel credits, companion flight passes.
A reward is something that you redeem a currency or certificate for through spending on a credit card: Points on groceries, free gas, award flights, hotels stays and more.
Not every merchant will take your Amex card, despite nearly 99% acceptance across Canada. Not all merchants accept all types of credit cards, so ensure you have a backup Visa or Mastercard in your wallet, just in case.
When trying to choose choose the right card for you, consider your spending patterns. Your card should allow you to earn points when buying the items you would be purchasing anyway. For example, if you are a frequent traveller, then a hotel rewards card that earns extra points on hotel stays would be a smart choice. A large family would do best with a rewards card that earns points at the grocery store they shop at most frequently, while anyone who covers a lot of miles would benefit from a card that gives good rewards on gas.
Consideration
Explenation
Assess Your Spending Habits
• Track your monthly expenses across categories (e.g., groceries, gas, dining)
• Identify where you spend the most to maximize potential rewards
• Consider seasonal spending patterns (e.g., holiday shopping, summer travel)
Define Your Rewards Goals
• Determine if you prefer cash back, travel points, or merchandise rewards
• For travel rewards, decide between flexible points or airline/hotel specific programs
• Consider if you want to focus on everyday rewards or save for big redemptions
Evaluate the Earn Rate
• Look for cards offering higher earn rates in your top spending categories
• Compare base earn rates for non-bonus category spending
• Consider cards with multipliers or accelerators for specific merchants
Analyze the Annual Fee
• Weigh the annual fee against potential rewards and benefits
• Calculate if your spending and rewards will offset the fee
• Consider no-fee options for lower spenders or as secondary cards
Assess the Welcome Bonus
• Compare sign-up bonuses across different cards
• Ensure you can meet the minimum spend requirement within the timeframe
• Calculate the value of the bonus relative to your regular spending
Consider Additional Perks
• Look for travel insurance coverage (e.g., trip cancellation, medical)
• Evaluate purchase protection and extended warranty benefits
• Consider lifestyle perks like airport lounge access or concierge services
Check Redemption Flexibility
• Understand the redemption options available (e.g., statement credits, travel bookings)
• Look for cards with no blackout dates or seat restrictions for travel redemptions
• Consider if points can be transferred to other loyalty programs
Evaluate Point Values
• Research the average value per point across different redemption options
• Consider cards with points that maintain consistent value regardless of redemption choice
• Look for opportunities to maximize point values through promotions or transfers
Consider Your Credit Score
• Check if you meet the card’s credit score requirements
• Look for pre-approval options to avoid hard credit checks
• Consider secured or entry-level rewards cards if building credit
Review Foreign Transaction Fees
• For frequent travelers, prioritize cards with no foreign transaction fees
• Calculate potential savings on international purchases
• Consider pairing a no-FX fee card with a high-earning domestic card
Assess Ease of Use
• Look for user-friendly online interfaces and mobile apps
• Consider if the card integrates with your preferred budgeting tools
• Evaluate customer service options and reputation
Credit needed
What credit score do you need to get a rewards credit card in Canada?
In most cases, your credit score will need to range from fair to excellent in order to get approved for a rewards credit card. The exact range this needs to fall into will highly depend on the card issuer. In Canada, a fair credit score begins at a base rating of 575 and extends to 650, while a credit score of 760 and above is generally considered to be excellent.
It’s important to remember that applying for a credit card can hurt your credit score initially — but only temporarily. Every time you apply for a new credit card, your credit score drops by 5 points or less. While this may seem like a lot, a newly opened credit card won’t hurt your score as much as a missed or defaulted payment, and its effect on your credit score will wear off after one year. As long as you have not applied for several new credit cards in a short period of time, a credit card application should have minimal negative impact on your ability to receive additional credit in the fu
Once you have a rewards credit card, you’ll earn purchases on eligible purchases. That said, some categories may earn you additional points. For example, some credit cards offer you an increased earning rate on groceries and gas. When applying for a rewards credit card, try to pick a program where you find the rewards useful. In addition, see if there’s a card that gives you an increased earning rate where you typically spend more money.
It’s worth noting that some rewards programs are partnered with specific retailers. If you scan your rewards card and then pay with your rewards credit card, you can double dip, meaning you get rewards points from the retailer as well as the credit card company for your purchase.
How to redeem credit card rewards
Every rewards program is different, so you really need to do some research to know what your redemption options are. For example, with the American Express Membership Rewards program, you can redeem 1,000 points for a $10 statement credit. With Aeroplan, Air Canada’s loyalty program, you can redeem your points for any seat available on Air Canada.
When it comes to cash back programs, there are a few things to be aware of. First, some programs have a minimum amount of cash back you need to have earned before you can redeem it. While some cash back programs allow you to redeem your cash back at any time, others only pay out once per year.
Regardless, most programs allow you to redeem your rewards online or through the mobile app. Keep in mind that most rewards programs have an expiration date, and, if there’s no account activity after 12 - 24 months, you may lose all the points or miles you’ve accumulated.
Types of rewards
There are multiple types of rewards credit cards in Canada. In addition, each individual loyalty program may also have multiple credit cards. Since every rewards program and loyalty program is different, it may require some research to figure out which card is best for you. Generally, cards with a higher annual fee and income requirement typically have better benefits. If you’re not sure what credit card you should get, take a look at the type of rewards first.
Cash back credit cards
Cash back is the easiest type of reward to understand. When paying with a cash back credit card, you’ll earn a set percentage back depending on where you’re shopping. While earning cash back is simple, redeeming your rewards differs for each program. Some pay out at any time, monthly, or yearly. Sometimes, you may also need a minimum amount of cash back earned before you can cash it out. Learn more in our cash back vs. rewards credit cards guide.
General rewards credit cards
Every major financial institution has general rewards credit cards. Instead of being tied to one specific loyalty program, you’d be earning points tied to your credit card provider that can be used on various items, such as travel, gift cards, merchandise, and more. Having flexible rewards is great, but be aware that every redemption option will have a different value. Generally, using your points for travel booked through your bank’s travel portal will get you the best return.
Airline rewards credit cards
Airline credit cards are tied to a specific credit card. Both Air Canada and WestJet have multiple co-branded credit cards. The higher the tier, the better the benefits. For example, you could get free checked luggage, priority boarding, lounge access and more. Many people prefer airline credit cards since it allows them to fly for less, and the included benefits could let them save money. Note that some general travel rewards programs have airline transfer partners, so they’re indirectly airline rewards credit cards too.
Hotel rewards credit cards
Hotel rewards credit cards are tied to a specific hotel chain, such as Marriott. These types of credit card rewards can be valuable since you earn points that can be used for free stays. Some typical benefits that are included with hotel credit cards are an enhanced earn rate during stays, hotel status upgrades, status qualifying nights and more. There are even some hotel credit cards that give you a free annual night stay.
Travel rewards credit cards
Some people think that credit cards with access to the best travel rewards programs are the same as general rewards cards. While both allow you to redeem your points for travel, gift cards, merchandise and more, there tends to be a few minor differences. Generally speaking, travel rewards credit cards give you an increased earning rate when redeeming your points or miles for travel. You’ll also get more value out of your points when redeeming them for travel through their travel portal.
Store rewards credit cards
As the name implies, store rewards credit cards are tied to a specific retailer. Some people don’t think store reward credit cards are valuable, but they can be if you shop there regularly. In addition, some store loyalty programs are tied to their co-branded credit cards. That means you can’t earn rewards unless you have the card. If you’re considering a store rewards credit card, think about how often you shop at the retailer and how the rewards program works. For example, a grocery store rewards credit card could be useful, whereas one tied to a specific online retailer may not be as valuable.
Gas rewards credit cards
Canada does not have a credit card that’s tied to a specific gas station. That said, multiple credit cards are partnered with specific gas station chains. If you pay with a partnered credit card, you can either save at the pump or earn extra points. Even though there are no specific gas rewards credit cards in Canada, you can still earn many points at gas stations with the right credit card. To learn more read our best gas credit cards guide.
Reward programs
Most popular credit card rewards programs
There are many different credit card rewards programs, and some are naturally better than others. While some people may default to the program offered by their bank, it’s worth getting to know the most popular credit card rewards programs as they can give you more value.
Welcome bonuses: Many cards offer substantial sign-up bonuses, giving you a head start on rewards
Perks: Some cards may come with premium travel perks like lounge access, free bags on flights, insurance or more
Insurance: Rewards cards may provide ravel insurance coverage (e.g., trip cancellation, medical emergency), purchase protection, mobile device coverage and more
Cons
Annual fees: Many rewards cards charge annual fees, sometimes $100+ for the very best offers
Interest rates: Reward credit cards feature higher interest rates vs. non-reward cards, meaning you'll pay more if you carry a balance
Complexity: Some rewards programs have complicated earning and redemption structures
Top tip: Analyze your typical spend
Analyze your spending patterns and select a card that offers the highest rewards in your top spending categories. For example, if you're a frequent traveller, a travel rewards card like the American Express Cobalt® Card might be ideal.
Summary of picks
Credit card
Fast facts
Get started
TD® Aeroplan® Visa Infinite Privilege* Card
Welcome bonus: Earn up to $3,000 in value† including up to 85,000 Aeroplan points†. Conditions Apply. Offer effective as of January 7, 2025.
Annual fee: $599
Welcome bonus: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.††
If you always pay your bills on time and in full, then rewards credit cards are always worth it. You’re essentially being rewarded for spending. Plus, many rewards credit cards come with additional benefits, such as travel insurance, airport lounge access, and extended warranty, that could help you save.
Yes. Like all credit cards, rewards credit cards can help you build a positive credit history with responsible use. This means keeping your credit usage low, paying your balance in full each month (where possible), and keeping any new credit applications to a minimum. But incorrect usage can also result in a negative impact on your credit health and a falling credit score, so be careful.
Like any credit card, reward credit cards can negatively impact your credit health if used incorrectly. Reward cards typically have a higher interest rate than no-reward cards. Additionally, they may have a higher annual fee, though this can usually be offset with spending in the key bonus categories.
While this is entirely up to your own preference and how many credit cards you are comfortable with, owning more than one rewards credit card is not a bad thing — but only if they offer different types of rewards. Ideally, you should own two different rewards credit cards from different providers (i.e., Visa, Mastercard, American Express) that offer the best rewards rates on travel, shopping, cashback, etc. While many credit cards are now allowing customers to redeem their points towards a range of benefits, there will always be rewards credit cards that offer a better return on particular types of rewards. Therefore, the best card combination for you might come in the form of a travel reward card and a cash reward card. You can research more using our best credit card in Canada guide.
Barry Choi is a Toronto-based personal finance and travel expert who makes frequent media appearances. When he's not educating people on how to be smarter with money, he's earning and burning miles and points for luxury travel.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
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