Best rewards credit cards in Canada

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.

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 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 85,000 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.

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 4 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. Plus, earn 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)
• Interest rates: 19.99% Purchase APR; 22.99%^✪ Balance Transfer APR; 24.99% Cash Advance APR  

MBNA Platinum Plus pros and cons

Pros

• No annual fee

• 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.

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.

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.

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.

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 up to 100,000 Membership Rewards® points* – that’s up to $1,000 in value.
• 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

• Annual statement credits: $200 annual travel credit, $200 annual dining credit

• 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.

How to earn credit card rewards

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.

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.