Best Credit Cards in Canada for July 2024
IN CANADA FORClick on a category below to see the best credit cards in that category.
Best Credit Cards in Canada for Rewards
Credit cards are a great way to get reward points on your purchases. Best rewards credit cards are the best overall for getting the most out of your spending. Since these credit cards are gathered from all available rewards credit cards, you need to pick what rewards you value most.
- Receive 100 WestJet Dollars points when you spend $1,000.00 during the first 3 months.
$39.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: WestJet Dollars Points
1 WestJet Dollars Point ≈ ¢100
- 0.015 WestJet Dollars Point for each $1 spent on: WestJet Purchases.0.015 WestJet Dollars Point ≈ $0.015 in cash equivalent.
- 0.01 WestJet Dollars Point for each $1 spent on: everything else.0.01 WestJet Dollars Point ≈ $0.01 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Hotel/Motel Burglary
- Travel Accident
- Trip Delay/Cancellation
- Trip Interruption
- Receive 3500 Avion points when you spend $500.00 during the first 3 months.
- Receive 3500 Avion points when you make 1 purchase.
$48.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: Avion Points
1 Avion Point ≈ ¢0.58
- 3 Avion Points for each $1 spent on: gas, grocery, streaming, EV charging and entertainment.3 Avion Points ≈ $0.0174 in cash equivalent.
- 1 Avion Point for each $1 spent on: everything else.1 Avion Point ≈ $0.0058 in cash equivalent.
Insurance Included
- Extended Warranty
- Purchase Assurance
- Receive 10000 Aeroplan points when you spend $1,000.00 during the first 3 months.
- Receive 10000 Aeroplan points when you make 1 purchase.
$89.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: Aeroplan Points
1 Aeroplan Point ≈ ¢1
- 1 Aeroplan Point for each $1 spent on: Air Canada.1 Aeroplan Point ≈ $0.01 in cash equivalent.
- 1 Aeroplan Point for each $1.5 spent on: everything else.1 Aeroplan Point ≈ $0.01 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Common Carrier
- Flight Delay/Cancellation
$120.00
Purchase: 20.99%
Cash: 21.99%
Income Requirement Is Not Specified.
Fair
Rewards: Marriott Bonvoy Points
1 Marriott Bonvoy Point ≈ ¢0.7
- 5 Marriott Bonvoy Points for each $1 spent on: Marriott purchases.5 Marriott Bonvoy Points ≈ $0.035 in cash equivalent.
- 2 Marriott Bonvoy Points for each $1 spent on: everything else.2 Marriott Bonvoy Points ≈ $0.014 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Flight Delay/Cancellation
- Hotel/Motel Burglary
- Travel Accident
- Extended Warranty
- Purchase Assurance
Best Credit Cards in Canada for Cash Back
Cashback credit cards are easy to compare, track, and redeem. Instead of having reward points that can change their value or even expire, cashback is transparent and can be used to buy anything. The best credit cards in Canada that offer cashback as a reward often offer other perks and comprehensive insurance policies.
$0.00
Purchase: 19.99%
Cash: 24.99%
Transfer: 22.99%
Income Requirement Is Not Specified.
Fair
Cash Back
- 2% Cashback for each $1 spent on: gas and grocery.
- 0.5% Cashback for each $1 spent on: everything else.
Insurance Included
- Car Rental
- Common Carrier
- Trip Interruption
- Extended Warranty
- Purchase Assurance
- Receive $10 in statement credit every month you spend at least $300.00 for the first 10 months.
$0.00
Purchase: 20.99%
Cash: 21.99%
Income Requirement Is Not Specified.
Fair
Cash Back
- 2% Cashback for each $1 spent on: gas and grocery.
- 1.25% Cashback for each $1 spent on: everything else.
Insurance Included
- Travel Accident
- Extended Warranty
- Purchase Assurance
- Get up to 5% in Cashback on eligible purchases in the first 3 months. (Max Cashback $97.50)
- 0.99% Balance Transfer Rate for 9 Months with a 2% transfer fee.
$0.00
Purchase: 20.99%
Cash: 22.99%
Transfer: 22.99%
Income Requirement Is Not Specified.
Fair
Cash Back
- 3% Cashback for each $1 spent on: grocery.
- 1% Cashback for each $1 spent on: recurring bills.
- 0.5% Cashback for each $1 spent on: everything else.
$0.00
Purchase: 20.90%
Cash: 21.90%
Income Requirement Is Not Specified.
No Minimum
Credit Score.
Cash Back
- 2% Cashback for each $1 spent on: transit, restaurants, entertainment and recurring bills.
- 0.5% Cashback for each $1 spent on: everything else.
Insurance Included
- Baggage Loss/Delay
- Travel Emergency Medical
- Trip Delay/Cancellation
- Extended Warranty
- Mobile Device
- Purchase Assurance
Best Credit Cards in Canada for Travel
Best travel credit cards are some of the best credit cards in Canada. Travel credit cards usually collect reward points that can be used for flights and other travel expenses. Aeroplan credit cards are among the most popular travel credit cards because of their perks and generous rewards. They include benefits like VIP lounges, travel companion vouchers, and generous travel insurance packages.
- Receive 100 WestJet Dollars points when you spend $1,000.00 during the first 3 months.
$39.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: WestJet Dollars Points
1 WestJet Dollars Point ≈ ¢100
- 0.015 WestJet Dollars Point for each $1 spent on: WestJet Purchases.0.015 WestJet Dollars Point ≈ $0.015 in cash equivalent.
- 0.01 WestJet Dollars Point for each $1 spent on: everything else.0.01 WestJet Dollars Point ≈ $0.01 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Hotel/Motel Burglary
- Travel Accident
- Trip Delay/Cancellation
- Trip Interruption
- Receive 3500 Avion points when you spend $500.00 during the first 3 months.
- Receive 3500 Avion points when you make 1 purchase.
$48.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: Avion Points
1 Avion Point ≈ ¢0.58
- 3 Avion Points for each $1 spent on: gas, grocery, streaming, EV charging and entertainment.3 Avion Points ≈ $0.0174 in cash equivalent.
- 1 Avion Point for each $1 spent on: everything else.1 Avion Point ≈ $0.0058 in cash equivalent.
Insurance Included
- Extended Warranty
- Purchase Assurance
- Receive 10000 Aeroplan points when you spend $1,000.00 during the first 3 months.
- Receive 10000 Aeroplan points when you make 1 purchase.
$89.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: Aeroplan Points
1 Aeroplan Point ≈ ¢1
- 1 Aeroplan Point for each $1 spent on: Air Canada.1 Aeroplan Point ≈ $0.01 in cash equivalent.
- 1 Aeroplan Point for each $1.5 spent on: everything else.1 Aeroplan Point ≈ $0.01 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Common Carrier
- Flight Delay/Cancellation
- Receive 3000 Aeroplan points every month you spend at least $1,000.00 for the first 10 months.
- Receive 10000 Aeroplan points when you make 1 purchase between 14 and 17 months of Cardmembership.
$120.00
Purchase: 30.00%
Income Requirement Is Not Specified.
Fair
Rewards: Aeroplan Points
1 Aeroplan Point ≈ ¢1
- 2 Aeroplan Points for each $1 spent on: Air Canada.2 Aeroplan Points ≈ $0.02 in cash equivalent.
- 1.5 Aeroplan Points for each $1 spent on: restaurants and food delivery.1.5 Aeroplan Points ≈ $0.015 in cash equivalent.
- 1 Aeroplan Point for each $1 spent on: everything else.1 Aeroplan Point ≈ $0.01 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Flight Delay/Cancellation
- Hotel/Motel Burglary
- Travel Accident
- Extended Warranty
- Purchase Assurance
Best No Fee Credit Cards in Canada
If you don’t use a credit card often, the best no-fee credit cards may help you get the most rewards from a credit card you don’t have to pay for. No-fee credit cards are the best for people who use a credit card only occasionally or those looking for a free credit card to supplement their main credit card.
Welcome Bonus
Rewards
$0.00
Purchase: 20.99%
Cash: 22.99%
Income Requirement Is Not Specified.
Fair
Rewards: Avion Points
1 Avion Point ≈ ¢0.58
- 1.5 Avion Points for each $1 spent on: gas, grocery, streaming, EV charging and entertainment.1.5 Avion Points ≈ $0.0087 in cash equivalent.
- 1 Avion Point for each $1 spent on: everything else.1 Avion Point ≈ $0.0058 in cash equivalent.
Insurance Included
- Extended Warranty
- Purchase Assurance
$0.00
Purchase: 21.90%
Cash: 21.90%
Transfer: 21.90%
Income Requirement Is Not Specified.
Fair
Rewards: Capital One Mile Points
1 Capital One Mile Point ≈ ¢0.5
- 1 Capital One Mile Point for each $1 spent on: all eligible purchases.1 Capital One Mile Point ≈ $0.005 in cash equivalent.
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Common Carrier
- Extended Warranty
- Price Protection
- Purchase Assurance
- Receive 10000 Aeroplan points when you make 1 purchase.
$0.00
Purchase: 20.99%
Cash: 22.99%
Household: $15,000
Fair
Rewards: Aeroplan Points
1 Aeroplan Point ≈ ¢1
- 1 Aeroplan Point for each $1 spent on: gas, grocery and Air Canada.1 Aeroplan Point ≈ $0.01 in cash equivalent.
- 1 Aeroplan Point for each $1.5 spent on: everything else.1 Aeroplan Point ≈ $0.01 in cash equivalent.
Insurance Included
- Car Rental
- Common Carrier
- Extended Warranty
- Purchase Assurance
$0.00
Purchase: 19.99%
Cash: 24.99%
Transfer: 22.99%
Income Requirement Is Not Specified.
Fair
Cash Back
- 2% Cashback for each $1 spent on: gas and grocery.
- 0.5% Cashback for each $1 spent on: everything else.
Insurance Included
- Car Rental
- Common Carrier
- Trip Interruption
- Extended Warranty
- Purchase Assurance
Best Low-Interest Rate Credit Cards in Canada
Low-interest credit cards are best for people with a credit card balance. Low-interest credit cards usually don’t offer great rewards, but they can help you save on interest rate charges that can be expensive on an average credit card. If you already have a balance on a credit card with a high interest rate, you should also consider balance transfer credit cards that allow you to have a low interest rate on the balance you currently have.
$0.00
Purchase: 10.90%
Cash: 12.90%
Income Requirement Is Not Specified.
Fair
Insurance Included
- Baggage Loss/Delay
- Car Rental
- Travel Emergency Medical
- Trip Delay/Cancellation
- Extended Warranty
- Mobile Device
- Purchase Assurance
$0.00
*Home Equity is required as collateral.
Purchase: 8.99%
Cash: 8.99%
Individual: $15,000
Fair
$20.00
Purchase: 12.99%
Cash: 12.99%
Income Requirement Is Not Specified.
Fair
$25.00
Purchase: 12.99%
Cash: 12.99%
Income Requirement Is Not Specified.
Fair
Insurance Included
- Travel Accident
- Extended Warranty
- Purchase Assurance
Best Credit Cards for Bad Credit
The best credit cards for bad credit allow you to build your credit history regardless of your credit score. You have multiple options to consider for a credit card for bad credit.
You can get secured credit cards that require a cash deposit or home equity. Secured credit cards may have a low interest rate and an annual fee. Unsecured credit cards do not require collateral but usually have a higher interest rate and annual fee. Prepaid credit cards can also be a good alternative because many offer a credit-building program.
$0.00
Purchase: 20.90%
Cash: 21.90%
Income Requirement Is Not Specified.
No Minimum
Credit Score.
Cash Back
- 2% Cashback for each $1 spent on: transit, restaurants, entertainment and recurring bills.
- 0.5% Cashback for each $1 spent on: everything else.
Insurance Included
- Baggage Loss/Delay
- Travel Emergency Medical
- Trip Delay/Cancellation
- Extended Warranty
- Mobile Device
- Purchase Assurance
$0.00*
Purchase: 0.00%
No Income Required.
No Minimum
Credit Score.
Cash Back
- 5% Cashback for each $1 spent on: select merchants.
- 1% Cashback for each $1 spent on: grocery, transit, restaurants and food delivery.
- 0.25% Cashback for each $1 spent on: everything else.
Other Perks
- 5% Interest on Your Entire Balance.
- Credit Building: $10/month.
- Free Credit Score.
- Unlimited e-Transfers.
- Up to $100K of your money is protected by CDIC.
$0.00
*$50 minimum deposit required.
Purchase: 29.99%
Cash: 31.99%
Income Requirement Is Not Specified.
No Minimum
Credit Score.
Cash Back
- 15% Cashback for each $1 spent on: select merchants.
- 6% Cashback for each $1 spent on: restaurants.
- 2% Cashback for each $1 spent on: gas and grocery.
$0.00
*$500 minimum deposit required.
Purchase: 19.99%
Cash: 19.99%
Income Requirement Is Not Specified.
No Minimum
Credit Score.
What Is the Best Credit Card in Canada?
BEST CREDIT CARDClick on a button below to learn more about credit card features.
There is no single best credit card that fits everyone. Different credit cards may be best for different lifestyles. We can compare the best credit cards based on their rewards, sign-up bonuses, and other factors that may significantly affect the outcome.
Rewards for Best Credit Cards
Most credit cards offer some rewards to incentivize customers to use them. The most common credit card incentives include redeemable reward points and cash back. The best credit cards in Canada offer these incentives to the most used spending categories, such as grocery, gas, transit, travel, recurring bills, etc.
Reward points are valued differently depending on what you buy with them. For example, American Express MR points can be used for statement credit at 1¢ per point, or they can be transferred to Aeroplan rewards and used for flights at 2.8¢ per point. Different reward points have different values that can be changed depending on what you buy.
Welcome Bonus
Rewards
Welcome Bonuses for Best Credit Cards
Some of the best credit cards in Canada offer welcome bonuses that can offer as much as thousands of dollars in value. Some people even do credit card churning, allowing them to harvest the welcome bonus and close the credit card to avoid paying additional fees. Credit card welcome bonuses are an important factor to consider when picking the best credit card. A welcome bonus may provide rewards that may take a few years to collect otherwise.
Best Credit Cards in Canada For Welcome Bonuses
| Card | Welcome Bonus |
|---|---|
AMEX Platinum Charge Card Int. Rate: 30% Annual Fee: $799.00 | Up to 100000 AMEX points in Welcome Bonus Rewards:
|
AMEX Aeroplan Reserve Int. Rate: 20.99% Annual Fee: $599.00 | Up to 85000 Aeroplan points in Welcome Bonus Rewards:
|
CIBC Aeroplan Visa Infinite Privilege Int. Rate: 20.99% Annual Fee: $599.00 | Up to 80000 Aeroplan points in Welcome Bonus Rewards:
|
AMEX Gold Rewards Int. Rate: 20.99% Annual Fee: $250.00 | Up to 60000 AMEX points in Welcome Bonus Rewards:
|
CIBC Aeroplan Visa Infinite Int. Rate: 20.99% Annual Fee: $139.00 | Up to 50000 Aeroplan points in Welcome Bonus Rewards:
|
Annual Fee
If you pay off your credit card in full and on time, the main cost of the credit card is the annual fee. The best credit cards in Canada may sometimes have an annual fee of up to $500. You should compare different credit cards and see what you are willing to pay for your credit card. As a rule of thumb, you should get a credit card where the rewards outweigh the fees. The following table shows you the best credit card in Canada for different annual fees.
Best Credit Cards in Canada by Annual Fee
| Annual Cost | Standard Benefits | Our Top Picks |
|---|---|---|
| $0 |
| |
| $39 |
| Learn More Int. Rate: 12.99% Annual Fee: $20.00 |
| $99 |
| Learn More Int. Rate: 21.9% Annual Fee: $59.00 |
| $120 |
| |
| Over $120 |
|
Income Requirements
The best credit cards in Canada usually have a minimum income requirement. Credit cards usually look at personal or household income, depending on the situation. Some high-end credit cards may also look at the Assets Under Management (AUM) to qualify a person for the credit card. Most credit cards with high rewards are offered to individuals or households with $60,000 and $80,000 salaries, respectively.
Interest Rate
Credit cards may have three different interest rates: purchase, cash advance, and balance transfer interest rates. The purchase interest rate is charged on any credit balance you do not pay on time. The cash interest rate begins accruing immediately upon getting a cash advance or conducting any cash-like transaction using your credit card. The balance transfer interest rate is the interest charge on any credit balance you transfer from another credit card.
Generally, you may not have to worry about interest rates if you use your credit card for purchases only and you plan to pay off your credit card in full on time every time. If you plan to hold a balance on your credit card, consider the interest rate to avoid expensive interest charges.