Best Credit Cards by Bank

One look at our best credit card catalogue, and you’ll find plenty of top cards featured by various different financial institutions.

To help you sort through the best credit cards by bank, we implemented all the necessary filters to fabricate this comprehensive blog post.

Whether you’re leaning towards American Express, Scotiabank, TD or BMO, there’s a credit card with your name on it (or at least, the idea is it will have your name on it). 

Best Credit Cards from the American Express Financial Institution

The American Express financial institution has some of the best credit cards in Canada.

While many contenders are geared towards travel, there are a few stand-out options in categories like everyday spending, cashback, and premium travel perks. The top three cards in this category represent these three card types perfectly.

Our choice for: Overall Best Credit Card in Canada, great at earning points to be used for travelling

American Express Cobalt® Card

American Express Cobalt® Card

5

Finly Rating

APPLY NOW

go to American Express' website

Welcome Bonus*

Up to 15,000 points

First Year Value

$1,255.2

Based on $2,000/mo spending. Calculate your rewards

Annual Fee*

$155.88

$12.99 Paid Monthly

Interest Rates

21.99%* / 21.99%*

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

This card was voted the Best Credit Card in Canada by FinlyWealth. The rewards earned on this card for a person with average spending exceed those of other credit cards in Canada by a huge margin! In addition, this card has a good benefits coverage, a flexible points redemption program (1:1 transfer to Aeroplan® or Avios), making it the best candidate to become the main credit card for the majority of people.

Pros & Cons

Pros

---

• Points can be transferred to Air Canada Aeroplan® at a 1:1 ratio, making this card a solid Aeroplan® points earner as an alternative to Aeroplan® branded credit cards
• Generous welcome bonus of up to 15,000 points
• 4+ different ways of redeeming your points for great value
• 10 different types of insurance, including travel
• Often referred to as the Best Credit Card in Canada

Cons

---

• Less acceptance of American Express at different merchants across Canada
• Not all types of travel insurance are covered, especially trip cancellation and interruption insurance

Card Details

Rewards*

• 5x points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery (up to 12,500 points per month)
• 3x points per $1 spent on eligible streaming subscriptions in Canada
• 2x points per $1 spent on eligible gas, transit & ride share in Canada
• 1x point per $1 spent on all other purchases

Insurance*

Coverage*

• 

  Emergency Out of province Medical

  15 days
• 

  Flight Delay

  $500
• 

  Baggage Delay

  $500
• 

  Hotel Burglary Insurance

  $500
• 

  Lost or Stolen Baggage

  $500
• 

  Travel Accident

  $250,000
• 

  Car Rental Damage & Theft

  yes
• 

  Mobile Device Insurance

  $1,000
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  Up to 1 year

Benefits*

Details*

• 

  Amex Experiences™

  Access Front Of The Line® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex Experiences™
• 

  Travel Credit

  Book two or more consecutive nights at participating properties through The Hotel Collection with American Express Travel to receive a $100 credit for amenities or a complimentary room upgrade, if available.

Eligibility*

• Credit Score

  Fair
• Annual Income

  N/A

^**Terms and conditions apply. If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%. American Express is not responsible for maintaining or monitoring the accuracy of information on this website. 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. Check here for full details and current product information.

It should come as no surprise that the American Express Cobalt Card is considered to be one of the best credit cards you can get (in fact, at FinlyWealth, we consider it to be the best credit card in Canada).

Why is this card so highly regarded? First and foremost, it has an amazing rewards program with high earning potential in popular everyday spend categories like eligible eats and drinks in Canada, groceries, and food delivery services. This high-earn category is followed up by solid rewards on eligible Canadian streaming subscriptions, gas, and transit.

The card also comes with decent insurance coverage, including some travel protections like flight and baggage delay insurance, hotel burglary insurance, and emergency out of province medical insurance. Other valuable coverages like mobile device insurance are also included on the Cobalt Card.

There are only a couple of benefits, but these benefits will please both entertainment-enthusiasts and travellers. Expect to reap the benefits of Amex Experiences – which feature the Front Of The Line Program and Reserved Tickets to the hottest concerts, plus an annual hotel travel credit when you book two or more consecutive nights at participating properties through the Hotel Collection with American Express.

Overall, the American Express Cobalt Card is the most well-balanced card from American Express (not to mention the Canadian credit card market), catering to everyday shoppers and casual travellers alike.

Our choice for: Highest cash back for everyday spending

SimplyCash™ Preferred Card from American Express

SimplyCash™ Preferred Card from American Express

4.6

Finly Rating

APPLY NOW

go to American Express' website

Welcome Bonus*

Up to $250 ($200 in first year)

First Year Value

$614.35

Based on $2,000/mo spending. Calculate your rewards

Annual Fee*

$119.88

$9.99 Paid Monthly

Interest Rates

21.99%* / 21.99%*

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

The Simply Cash Preferred is one of the best cashback credit cards in Canada. The base cashback rate of 2% is great for all purchases, but the 4% on groceries and gas, which are two of the highest expenses for most people is the cherry on top of their great cashback program.

Pros & Cons

Pros

---

• Highest cashback rate on groceries and gas in Canada
• Great base cashback rate for all purchases
• 10 different insurance types included

Cons

---

• Cash back is only paid out to you once a year
• American Express has a lower merchant acceptance compared to Visa or Mastercard

Card Details

Rewards*

• 4% cash back on eligible gas station purchases in Canada
• 4% cash back on eligible grocery purchases in Canada (up to $1,200 cash back annually)
• 2% cash back on all other eligible purchases

Insurance*

Coverage*

• 

  Emergency Out of province Medical

  $5M/insured Person
• 

  Flight Delay

  $500
• 

  Baggage Delay

  $500
• 

  Hotel Burglary Insurance

  $500
• 

  Lost or Stolen Baggage

  $500
• 

  Travel Accident

  $100,000
• 

  Car Rental Damage & Theft

  $85K up to 48 days
• 

  Mobile Device Insurance

  $1,000
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  1 year

Benefits*

Details*

• 

  Amex Experiences™

  Access events and special offers curated for Cardmembers with Amex Experiences™

Eligibility*

• Credit Score

  Good
• Annual Income

  N/A

^**Terms and conditions apply. If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%. American Express is not responsible for maintaining or monitoring the accuracy of information on this website. 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. Check here for full details and current product information.

Let’s say you're a cashback kind of earner. In that case, the best credit card from the American Express financial institution is the SimplyCash Preferred Card from American Express.

This card gives you some of the most competitive cashback rewards in Canada, particularly on popular spend categories like gas and groceries. Even when you meet the card’s annual spending caps or you shop outside of these specialized earn categories, the base rate is above-average.

When it comes to coverage, the SimplyCash Preferred Card features the same insurance categories as the Cobalt Card, but certain categories – specifically travel accident insurance – offer a higher coverage value.

The benefits on the SimplyCash Preferred Card are basic, as it only includes standard Amex Experiences (unlike the Cobalt Card that also offers a travel credit).

Still, it’s also worth noting that the SimplyCash Preferred Card is slightly more affordable than the Cobalt Card.

All in all, the SimplyCash Preferred Card from American Express is the best credit card from the American Express financial institution for cashback-enthusiasts, whereas the Cobalt Card the best credit card for point collectors.

Our choice for: Travel Perks, Luxurious Travel, and Unlimited Lounge Access

American Express Platinum Card®

American Express Platinum Card®

4.5

Finly Rating

APPLY NOW

go to American Express' website

Welcome Bonus*

Up to 100,000 Membership Rewards® points (70,000 in 1st year)

Rewards Rate*

1x - 2x Points

Annual Fee*

$799

Interest Rates

21.99% - 30%* / N/A*

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.

Pros & Cons

Pros

---

• Offers more perks than any other credit card in Canada, catering to premium users who value extensive benefits.
• Enjoy $400 in annual travel and dining credits, which can offset some of the card's cost.
• Gain unlimited access to over 1,400 airport lounges worldwide, enhancing your travel experience.
• Multiple options for redeeming points for high value, giving you flexibility in how you use your rewards.
• Includes 11 types of insurance coverage, offering comprehensive protection for cardholders.

Cons

---

• As with other American Express cards, it may have lower acceptance in some locations compared to other networks.
• The high annual fee of $799 may be a barrier for some users, especially those who do not fully utilize the card's benefits.
• Some benefits are limited to specific airports and hotels.

Card Details

Rewards*

• 2x points per $1 spent on eligible dining & food delivery purchases (restaurant, fast food, coffee shop, food delivery)
• 2x points per $1 spent on eligible travel purchases (flights, hotels, tours and more)
• 1x point per $1 spent for all other purchases

Insurance*

Coverage*

• 

  Emergency Out of province Medical

  15 days
• 

  Trip Cancellation

  $2,500
• 

  Trip Interruption

  $2,500
• 

  Flight Delay

  $1,000
• 

  Baggage Delay

  $1,000
• 

  Hotel Burglary Insurance

  $1000
• 

  Lost or Stolen Baggage

  $1,000
• 

  Travel Accident

  $500,000
• 

  Car Rental Damage & Theft

  Yes
• 

  Purchase Protection

  120 days
• 

  Extended Warranty

  1 year

Benefits*

Details*

• 

  Airport Lounge - American Express Global Lounge

  Take full advantage of The American Express Global Lounge Collection™ which unlocks access to over 1,400 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience.
• 

  Travel Credit

  $200
• 

  Dining Credit

  $200 at Select Restaurants
• 

  Nexus Program Rebate

  $100 statement credit every 4 years
• 

  Complimentary Hotel Benefits

  Hotels booked American Express Travel
• 

  Status lift

  Upgrade to Hilton Honors Gold Status
• 

  Status lift

  Upgrade to Marriott BonvoyTM Gold Elite status
• 

  Priority Travel

  At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park
• 

  Concierge Services
• 

  Trip and legal Assistance
• 

  American Express® Experiences
• 

  Extra points

  Earn 2 points on Amex Travel Online purchases and extra points on American Express offers

Eligibility*

• Credit Score

  Fair
• Annual Income

  N/A

^**Terms and conditions apply. This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 28.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date. American Express is not responsible for maintaining or monitoring the accuracy of information on this website. 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. Check here for full details and current product information.

We’ve covered the best American Express financial institution credit cards for both points and cashback, now it’s time to uncover the best American Express financial institution credit card for perks.

The American Express Platinum Card offers more perks than any other credit card in Canada, with a long list of benefits that includes unlimited complimentary access to over 1,400 airport lounges through the American Express Global Lounge Collection, generous annual dining and travel credits, status lifts to Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status, plus priority travel perks like Priority Security lane, complimentary valet services, and discounts on airport parking.

The coverage is also top-tier, with valuable trip interruption and trip cancellation insurance, flight and baggage delay insurance, and emergency out of province medical insurance.

The rewards program on this card isn’t particularly impressive, but that’s because the focus of this premium travel credit card is the extensive perks.

To compensate for all of these perks, the American Express Platinum Card comes with a particularly high annual price tag. That said, if you make use of all the benefits on this contender, you may be able to offset the yearly fee.

Ultimately, the American Express Platinum Card is the best American Express financial institution credit card for high-earning frequent travellers who crave luxurious perks.

Best Credit Cards from CIBC

In all honesty, CIBC doesn’t have the best catalogue of credit cards compared to other institutions. However, if you’re looking for budget-conscious Aeroplan perks or low-interest rates, there might be a couple of credit cards to consider.

CIBC Aeroplan® Visa* Card

CIBC Aeroplan® Visa* Card

3.7

Finly Rating

APPLY NOW

go to CIBC's website

Welcome Bonus

Up to 10,000 Aeroplan® points

First Year Value

$568.45

Based on $2,000/mo spending. Calculate your rewards

Annual Fee

$0

Interest Rates

20.99% / 22.99%, for Quebec 21.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

The CIBC Aeroplan Visa Card is an excellent no-fee option for Aeroplan members who want to earn miles without an annual fee. Its solid earn rates on essential categories like gas and groceries make it easy to accumulate points quickly. The card also offers Preferred Pricing on Aeroplan redemptions, giving cardholders more value when they book flights with Air Canada. For someone looking for an entry-level Aeroplan card, this is a strong choice, especially with its generous welcome bonus.

Pros & Cons

Pros

---

• No Annual Fee: Enjoy Aeroplan rewards with no cost to maintain the card.
• Solid Rewards on Key Categories: Earn 1 Aeroplan point per $1 on gas, groceries, EV charging, and Air Canada purchases.
• Preferred Pricing on Aeroplan Rewards: Get access to better redemption rates on Aeroplan flight rewards.

Cons

---

• Limited Reward Rate: Only earns 1 point per $1.50 on all other purchases, which is less competitive than some other no-fee cards.
• Best Value for Air Canada Flyers: Maximum redemption value is through Air Canada flights, which limits flexibility if you don’t frequently fly with Air Canada.

Card Details

Rewards

• 1 Aeroplan® point per $1 spent on eligible gas, electric vehicle charging, groceries and with Air Canada directly, including through Air Canada Vacations®
• 1 Aeroplan® point per $1.50 spent (0.66 point per $1) on all other purchases

Insurance

Coverage

• 

  Travel Accident

  $100,000
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  Up to 1 year
• 

  Car Rental Damage & Theft

  Up to $65k car MSRP

Benefits

Details

• 

  Discount

  Primary cardholders can often book flight rewards for even fewer points
• 

  Extra points

  Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore

Eligibility

• Credit Score

  Very Good
• Annual Income

  $15,000 household

Starting with the affordable Aeroplan-branded contender, the CIBC Aeroplan Visa Card allows you to collect miles for no annual fee.

To earn these miles, tap your card on eligible gas, electric vehicle charging, grocery, or Air Canada purchases.

You can also travel with some protection like travel accident and car rental damage and theft insurance.

The benefits on this card include preferred pricing on Air Canada flights – allowing you to make eligible bookings for fewer points, and double the points on purchases made at over 150 Aeroplan partner brands and more than 170 online retailers through the Aeroplan eStore.

At the end of the day, the CIBC Aeroplan Visa Card is a great beginner-friendly Aeroplan-branded credit card with solid rewards on essential categories and enticing benefits like preferred pricing on eligible flights.

CIBC Select Visa* Card

CIBC Select Visa* Card

4

Finly Rating

APPLY NOW

go to CIBC's website

Welcome Bonus

Balance transfer 0% interest for up to 10 months with a 1% transfer fee

Rewards Rate

No Rewards

Annual Fee

$29 $0

Interest Rates

13.99% / 13.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

A nice low rate card for everyday spending.

Pros & Cons

Pros

---

• Low interest rate
• Nice welcome offer for balance transfer

Cons

---

• No rewards
• Missing Purchase protection and Extended warranty as benefit almost covered by all other credit cards

Card Details

Rewards

No rewards earned on this card

Insurance

Coverage

• 

  Travel Accident

  $100,000

Eligibility

• Credit Score

  Good
• Annual Income

  N/A

You can get even more budget-conscious with the CIBC Select Visa Card.

For starters, this card offers a welcome bonus of no interest for nearly a year with an extremely low balance transfer fee. After which, interest rates still remain decently low.

To top off this intro offer, cardholders will also receive a first year annual fee rebate.

The inclusion of this credit card in this category just goes to show that CIBC has some solid contenders for those who carry a balance in addition to those who tend to travel.

Best Credit Cards from RBC

While RBC doesn’t have a ton of top-ranking credit cards in its catalogue, there’s one card in particular that’s worth pointing out – especially if you’re a frequent WestJet flyer.

WestJet RBC World Elite Mastercard

WestJet RBC World Elite Mastercard

4

Finly Rating

APPLY NOW

go to RBC's website

Welcome Bonus

Get up to 70,000 WestJet points

First Year Value

$841.6

Based on $2,000/mo spending. Calculate your rewards

Annual Fee

$119

Interest Rates

20.99% / 22.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

If you travel frequently with WestJet, you must get this card because you are missing out on many benefits, even if you don't use this card for rewards. The round-trip companion voucher, status lift, and free checked bag benefits alone more than make up for the annual fee. For WestJet purchases, this card is great for earning rewards, but for all other categories, we recommend pairing it with another card.

Pros & Cons

Pros

---

• A no-brainer if you are a frequent WestJet traveler. The first free checked bag, annual companion pass, and status lift benefits alone make up more than the amount paid for the annual fee.
• A very good list of travel insurance in addition to WestJet-specific benefits.

Cons

---

• Not the best card for rewards accumulation, so it's better if paired with another card that offers higher rewards on non-WestJet purchases.
• Rewards can only be used on WestJet, making them less flexible.

Card Details

Rewards

• Earn 2 points per $1 spent on WestJet flights or WestJet Vacations packages using your card
• Earn 1.5 points per $1 spent on everyday purchases

Insurance

Coverage

• 

  Emergency Out of province Medical

  15 days
• 

  Emergency Medical Over 65

  3 days
• 

  Travel Accident

  $500K
• 

  Car Rental Damage & Theft

  $65K up to 48 days
• 

  Trip Interruption

  $5K/person, $25K/trip
• 

  Flight Delay

  $250/person, $500/occurrence
• 

  Baggage Delay

  $500/person, $2500/occurrence
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  1 year

Benefits

Details

• 

  Airport Lounge - Dragon Pass

  Pass only, complimentary visits not included! Companion Voucher can be exchanged for 4 visits.
• 

  Companion Voucher

  Travel within Canada or to the continental U.S. (excluding Hawaii), from $119 CAD, Travel to Hawaii or Mexico from $399 CAD, Travel to the rest of the WestJet network from $399 CAD
• 

  Status lift

  Eern $500 in tier qualifying spend which applies towards achieving the next WestJet Rewards tier for every $15,000 CAD in Eligible Purchases on your WestJet RBC World Elite Mastercard (up to a maximum of $1,500 in tier qualifying spend in a qualifying year)
• 

  Free first checked bag

  First checked bag is free for primary cardholder on WestJet flight and up to 8 guests
• 

  Discount

  Member Exclusive fares: Exclusive discounts when you pay the full base fare with WestJet dollars
• 

  Boingo Wi-Fi hotspot
• 

  Gas Discount

  save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
• 

  Extra points

  50 Be Well points for every $1 spent on eligible products at Rexall

Eligibility

• Credit Score

  Good
• Annual Income

  $80,000 personal or $150,000 household

The WestJet RBC World Elite Mastercard is best known for its travel benefits which include a Dragon Pass membership (complimentary visits not included), free first checked bags for the primary cardholder and up to 8 travel companions, WestJet Rewards tier status lifts when spending milestones are met, and a companion voucher (which can be exchanged for some complimentary airport lounge visits through the Dragon Pass).

To complement these travel perks, the WestJet RBC World Elite Mastercard comes with some good insurance coverage like trip interruption, flight and baggage delay, and emergency medical coverages.

The rewards aren’t necessarily remarkable, but they do earn you decent cashback in WestJet dollars on WestJet flights or WestJet Vacations packages.

The annual fee on this card is reasonable considering the perks, but the income requirements run a bit high.

In conclusion, the best RBC credit card is the WestJet RBC World Elite Mastercard which best suits high-earning frequent WestJet travellers.

Best Credit Cards from Scotiabank

Scotiabank is another top institution with plenty of valuable credit cards that cater to travellers, everyday spenders, and budget-conscious cardholders as well.

Let’s take a look at this financial institution’s top three contenders:

Our choice for: Great rewards and travel benefits

Scotiabank Gold American Express® Card

Scotiabank Gold American Express® Card

4.9

Finly Rating

APPLY NOW

go to Scotiabank's website

$100 Cash Rebate From FinlyWealth

Welcome Bonus*

Up to 40,000 Scene+ points ($400 value)

First Year Value

$1,024.5

Based on $2,000/mo spending. Calculate your rewards

Annual Fee*

$120

Interest Rates

20.99% / 22.99%

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

The Scotiabank Gold American Express® Card is one of our favorite cards. It has a very solid rewards program, earning one of the highest rewards among all credit cards in Canada. In addition, it offers comprehensive travel benefits, including the rare and valuable no foreign transaction fee benefit, making it a great and balanced credit card in terms of both rewards and benefits. The first-year annual fee waiver is the cherry on top, providing even greater value to cardholders.

Pros & Cons

Pros

---

• No foreign transaction fee saves you 2.5% on all non-CAD purchases.
• Rewards cover all high-spending categories, including food, groceries, entertainment, and gas.
• Comprehensive coverage of all travel insurance.

Cons

---

• The card network is American Express, which might not be widely accepted in some countries, making it a bit harder to use the no foreign transaction fee benefit.
• Having a lounge pass would have made this card even more perfect, but there is access to a discount code for lounge access pass purchases.

Card Details

Rewards*

• Earn 6x Scene+ points on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
• Earn 5x Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
• Earn 5x Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
• Earn 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
• Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible select streaming services
• Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
• Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia

Insurance*

Coverage*

• 

  Emergency Out of province Medical

  $1M, Up to 25 days
• 

  Emergency Medical Over 65

  $1M, Up to 3 days
• 

  Trip Cancellation

  $1500/person, $10000/trip
• 

  Trip Interruption

  $1500/person, $10,000/trip
• 

  Lost or Stolen Baggage

  $500/person, $1000/trip
• 

  Baggage Delay

  $500/person, $1,000/trip After 4 hours
• 

  Flight Delay

  $500/person
• 

  Travel Accident

  $500K/person, $1M/occurrence
• 

  Car Rental Damage & Theft

  $65K up to 48 days
• 

  Hotel Burglary Insurance

  $1000/occurrence
• 

  Mobile Device Insurance

  $1,000
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  Up to 1 year

Benefits*

Details*

• 

  No Foreign Transaction Fees

  Avoid the 2.5% foreign transaction fees incurred when spending in non $CAD
• 

  American Express® Experiences
• 

  Concierge Services
• 

  Discount

  Discount on PriorityPass Membership

Eligibility*

• Credit Score

  Good
• Annual Income

  $12,000 personal or $12,000 household

^*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. Check here for full details and current product information.

Let’s start with the card that FinlyWealth considers to be the best overall travel credit card: the Scotiabank Gold American Express Card.

This card allows you to rack up tons of Scene+ points at partnered grocers (like Sobeys), plus plenty of points on dining, food delivery services and subscriptions, groceries, entertainment, gas, transit, streaming, and Scene+ Travel purchases. That’s right, with the Scotiabank Gold American Express Card, the earning possibilities are nearly endless.

The coverage on this card is just as comprehensive, with travel-oriented protections like trip interruption and trip cancellation insurance, emergency medical coverages, and flight and baggage delay insurance.

Expect benefits like American Express Experiences, concierge services, a discount on a Priority Pass membership, and most notably, no foreign transaction fees (so you can forgo that typical 2.5% fee that’s usually incurred when shopping outside of Canada).

To get your hands on this card, you’ll need to fund a reasonable annual fee and meet some small income requirements.

Therefore, the Scotiabank Gold American Express Card is not only the best travel credit card offered by the Scotiabank financial institution, it’s also the best travel credit card in all of Canada on account of its generous rewards program, its surplus of travel coverage, and its valuable travel benefits like no foreign transaction fees.

Our choice for: Premium Travel Perks and Lounge Access

Scotiabank Passport® Visa Infinite* Card

Scotiabank Passport® Visa Infinite* Card

4.8

Finly Rating

APPLY NOW

go to Scotiabank's website

$100 $150 Cash Rebate From FinlyWealth expiring on

Welcome Bonus*

Up to 40,000 Scene+ points

First Year Value

$643.9

Based on $2,000/mo spending. Calculate your rewards

Annual Fee*

$150

Interest Rates

20.99% / 22.99%

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

The Scotiabank Passport Visa Infinite is a strong choice for frequent travelers, especially those who value flexibility and premium perks. It stands out with its rare benefit of no foreign transaction fees, making international purchases more cost-effective. Additionally, the card offers a valuable blend of travel perks, including airport lounge access, comprehensive insurance coverage, and flexible rewards, making it an ideal companion for those who frequently travel abroad and want to avoid extra fees while enjoying premium benefits.

Pros & Cons

Pros

---

• High Rewards on Select Purchases: Earn up to 3 points per $1 spent on select categories.
• No Foreign Transaction Fees: Shop abroad without additional charges.
• Comprehensive Insurance: Includes 11 types of insurance coverage.
• Airport Lounge Access: Enjoy up to 6 airport lounge passes per year through the Visa Airport Companion program.

Cons

---

• High Income Requirements: Requires $60,000 personal or $100,000 household income.
• Lower Overall Rewards: Rewards potential is lower compared to premium credit cards.
• High Annual Fee: Comes with a significant annual fee.
• Average Insurance Coverage: Insurance benefits are standard, not exceptional.
• Mediocre Earnings Potential: The card’s rewards structure might not offer the highest returns for every spender.

Card Details

Rewards*

• Earn 3x Scene+ points on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
• Earn 2x Scene+ points for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options(including rideshares, buses, subways taxis and more)
• Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
• Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia

Insurance*

Coverage*

• 

  Emergency Out of province Medical

  $2M/insured up to 25 days
• 

  Emergency Medical Over 65

  $2M/insured up to 3 days
• 

  Trip Cancellation

  $1,500/person, $10,000/trip
• 

  Trip Interruption

  $2,500/person, $10,000/trip
• 

  Flight Delay

  $500/person after 4 hours
• 

  Lost or Stolen Baggage

  $1000
• 

  Baggage Delay

  $1000
• 

  Travel Accident

  $500,000/insured, $1M combined
• 

  Car Rental Damage & Theft

  $65,000 up to 48 days
• 

  Hotel Burglary Insurance

  $1,000
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  1 year

Benefits*

Details*

• 

  No Foreign Transaction Fees

  Avoid the usual 2.5% forex fees on your purchases when you travel outside of Canada
• 

  Airport Lounge - Dragon Pass

  6 Free complimentary visits
• 

  Status lift

  Avis® Preferred Plus membership
• 

  Concierge Services
• 

  Visa Infinite Exclusive Benefits

Eligibility*

• Credit Score

  Good
• Annual Income

  $60,000 personal or $100,000 household

^*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. Check here for full details and current product information.

The next best credit card from the Scotiabank financial institution is the Scotiabank Passport Visa Infinite Card – another travel-oriented option.

This contender is a bit more expensive annually when compared to the Scotiabank Gold American Express Card, plus it has some higher income requirements.

While the rewards program isn’t nearly as comprehensive as the Scotiabank Gold American Express Card’s rewards program, the Scotiabank Passport Visa Infinite Card still earns cardholders solid Scene+ points at partnered grocers (like Sobeys), other eligible grocery store purchases, dining, entertainment, transit, and bookings made through Scene+ Travel.

When you compare the two cards’ coverage, you’ll find that the Scotiabank Gold American Express Card is slightly more extensive since it includes mobile device insurance, but the Scotiabank Passport Visa Infinite Card has better coverage in certain categories like emergency out of province medical, emergency medical over 65, and trip interruption insurance.

Both cards boast no foreign transaction fees and concierge services, but the Scotiabank Passport Visa Infinite Card goes on to add Visa Infinite Exclusive Benefits, a handful of complimentary airport lounge visits through the Dragon Pass, and a status lift to an Avis Preferred Plus membership.

At the end of the day, the Scotiabank Passport Visa Infinite Card is superior to the Scotiabank Gold American Express card in terms of premium perks like lounge access, better coverage in certain travel categories, and a higher acceptance rate overall as a method of payment (since the Scotiabank Gold American Express Card is networked by Amex and thus has a lower acceptance rate as a result). 

Scotiabank Value® Visa* Card

Scotiabank Value® Visa* Card

5

Finly Rating

APPLY NOW

go to Scotiabank's website

$60 Cash Rebate From FinlyWealth

Welcome Bonus*

0.99% interest on balance transfers for 9 months + first year fee rebate

Rewards Rate*

0%

Annual Fee*

$29 $0

Interest Rates

13.99%* / 13.99%*

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

This is a great card for those who carry a balance every month and want to take advantage of much lower interest rates compared to most other cards. It also comes with a great introductory balance transfer rate for a limited number of months.

Pros & Cons

Pros

---

• A great low introductory interest rate on balance transfers
• Only 13.99% interest rate on purchases, balance transfers, and cash advances.

Cons

---

• No rewards on daily purchases
• Limited insurance

Card Details

Rewards*

This card does not earn rewards on purchases but instead offers much lower interest rates.

Insurance*

Coverage*

• 

  Balance Protection

  optional

Benefits*

Details*

• 

  Car Rental Discount

  Avis car rental discount up to 25% worldwide

Eligibility*

• Credit Score

  Good
• Annual Income

  N/A

^*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. Check here for full details and current product information.

As you’ve probably gathered, Scotiabank is a great credit card financial institution for travellers. What you’re about to find out is that it’s also a top-tier financial institution for low interest. In fact, our next contender, the Scotiabank Value Visa Card, is voted Finly’s best overall low interest credit card.

It’s true, the Scotiabank Value Visa Card lacks a rewards program, but that doesn’t mean it isn’t rewarding in other areas. Take the welcome bonus for example. In the first 9 months of membership, cardholders receive an extremely low introductory interest rate on balance transfers. For the rest of the time, cardholders can expect all-time-low interest rates on purchases and cash advances.

To make the card even more budget-friendly, the annual fee is completely rebated in the first year.

If you were hoping for some more perks, you can opt in to some balance protection insurance, plus you’ll receive car rental discounts with Avis.

So, the Scotiabank Value Visa Card is the best Scotiabank financial institution credit card for budget-conscious cardholders who may carry a balance.

Best Credit Cards from TD

TD doesn’t necessarily have some of the best credit cards overall, but it does have one travel credit card worth noting.

TD First Class Travel® Visa Infinite* Card

TD First Class Travel® Visa Infinite* Card

3.9

Finly Rating

APPLY NOW

go to TD's website

Welcome Bonus

Up to 135,000 TD Rewards Points

First Year Value

$1,076.23

Based on $2,000/mo spending. Calculate your rewards

Annual Fee

$139 $0

Interest Rates

20.99% / 22.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

The TD First Class Travel Visa Infinite Card is an excellent option for frequent travelers who book through Expedia For TD and want to maximize rewards on travel purchases. The high welcome bonus and extensive insurance coverage make this card stand out. However, the high income requirements and limited value of TD points may not make it the best fit for everyone.

Pros & Cons

Pros

---

• Generous welcome bonus of up to 135,000 points, which can be worth up to $675 in travel rewards.
• Earn 8 points per $1 spent on travel booked through Expedia For TD, making it a great card for frequent travelers.
• First year annual fee rebate, making it free for the first year.
• Extensive insurance coverage, including trip cancellation, emergency medical, baggage delay, and more.
• Annual $100 travel credit on a purchase of $500 or more through Expedia For TD.

Cons

---

• High income requirements: You need to earn at least $60,000 personally or $100,000 as a household.
• TD Rewards points are only worth 0.5 cents each, limiting their value compared to some other rewards programs.
• The Expedia For TD platform might not always offer the best prices or availability compared to booking directly with airlines or hotels.

Card Details

Rewards

• 8x points per $1 spent on travel booked online through Expedia for TD
• 6x points per $1 spent on eligible grocery and restaurant purchases
• 4x points per $1 spent on eligible recurring bill payments
• 2x points per $1 spent on all other eligible purchases

Insurance

Coverage

• 

  Emergency Out of province Medical

  21 days
• 

  Emergency Medical Over 65

  4 days
• 

  Trip Cancellation

  $1,500
• 

  Trip Interruption

  $5,000
• 

  Flight Delay

  $500
• 

  Baggage Delay

  $1,000
• 

  Lost or Stolen Baggage

  $1,000
• 

  Travel Accident

  $500,000
• 

  Car Rental Damage & Theft

  yes
• 

  Hotel Burglary Insurance

  $2,500
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  Up to 1 year
• 

  Mobile Device Insurance

  $1,000

Benefits

Details

• 

  Visa Infinite Exclusive Benefits
• 

  Concierge Services
• 

  Golf Benefit

  Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
• 

  Extra points

  Earn 50% more Stars and 50% more Aeroplan points at participating Starbucks stores
• 

  Annual Birthday Bonus

  Earn a Birthday Bonus of up to 10,000 TD Rewards Points
• 

  Car Rental Discount

  10% off base rate of Avis Rent A Car and Budget Rent A Car
• 

  Travel Credit

  Get an annual TD Travel Credit of $100 when you book at Expedia For TD

Eligibility

• Credit Score

  Good
• Annual Income

  $60,000 personal or $100,000 household

The TD First Class Travel Visa Infinite Card earns cardholders plenty of TD Rewards points on travel booked online through Expedia for TD, eligible grocery and restaurant purchases, plus eligible recurring bill payments. Overall, this rewards program offers a nice balance of everyday and travel expense earning opportunities.

If you plan on applying for this card, expect extensive coverage. The TD First Class Travel Visa Infinite Card comes with 13 different types of insurance, including valuable travel categories like trip interruption and trip cancellation insurance, emergency medical coverages, and car rental damage and theft insurance.

The benefits are notable too, with travel-focused perks like an annual travel credit when you book through Expedia for TD, car rental discounts at Avis Rent A Car and Budget Rent A Car locations, plus concierge services to help you plan your next trip with an expert. On top of all that, the card comes with Troon Rewards Golf benefits, extra Stars and Aeroplan points at participating Starbucks stores, and an annual birthday bonus of extra TD Rewards points.

In summary, the TD First Class Travel Visa is considered to be one of the best TD credit cards because of its admirable rewards program, its extensive coverage, and its valuable travel insurance – all for a reasonable annual fee that’s waived in the first year of membership. 

TD Aeroplan® Visa Infinite* Card

TD Aeroplan® Visa Infinite* Card

3.2

Finly Rating

APPLY NOW

go to TD's website

Welcome Bonus

Up to 40,000 Aeroplan® points

First Year Value

$1,381.37

Based on $2,000/mo spending. Calculate your rewards

Annual Fee

$139 $0

Interest Rates

20.99% / 22.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

The TD® Aeroplan® Visa Infinite Card* is an excellent choice for frequent Air Canada travelers looking to maximize their rewards with Aeroplan points. With perks like free checked bags, Preferred Pricing, and a first-year fee waiver, it’s ideal for users who value Air Canada-specific benefits. However, the card’s high income requirement and limited non-Air Canada redemption options may not appeal to everyone.

Pros & Cons

Pros

---

• Earn up to 40,000 Aeroplan points (welcome bonus offer ends January 6, 2025).
• 1.5 points per $1 on gas, groceries, and Air Canada purchases.
• Free checked bags and Preferred Pricing on Air Canada rewards flights.
• Extensive insurance coverage with 12 types of insurance.

Cons

---

• The rewards rate on this card is not that high. There are non-Aeroplan cards with much better reward programs, and their points can later be transferred to this card, making them better options if you are looking to gather Aeroplan points.
• You lose the flexibility to use other airlines if you want to take advantage of the benefits of this card.

Card Details

Rewards

• 1.5x Aeroplan points per $1 spent on gas, groceries, Air Canada and Air Canada vacations (maximum 120,000 points annually)
• 1x Aeroplan point per $1 spent on all other eligible purchases

Insurance

Coverage

• 

  Emergency Out of province Medical

  21 days
• 

  Emergency Medical Over 65

  4 days
• 

  Trip Cancellation

  $1,500
• 

  Trip Interruption

  $5,000
• 

  Flight Delay

  $500
• 

  Baggage Delay

  $1,000
• 

  Lost or Stolen Baggage

  $1,000
• 

  Travel Accident

  $500,000
• 

  Car Rental Damage & Theft

  yes
• 

  Hotel Burglary Insurance

  $2500
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  1 year
• 

  Mobile Device Insurance

  $1,000

Benefits

Details

• 

  Free first checked bag

  First checked bag is free for primary cardholder on Aircanada flights and up to 8 guests
• 

  Nexus Program Rebate

  $100 every 4 years
• 

  Visa Infinite Exclusive Benefits
• 

  Concierge Services
• 

  Golf Benefit

  Troon Rewards Golf benefits like discounts at over 95 resorts and courses around the world plus access to select private clubs across the U.S
• 

  Extra points

  Earn 50% more Stars and 50% more Aeroplan points at participating Starbucks stores
• 

  Extra points

  Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore
• 

  Status lift

  Reach Aeroplan Elite™ Status sooner by earning 1,000 Status Qualifying Miles and one (1) Status Qualifying Segment for every $10,000 of net purchases
• 

  Car Rental Discount

  10% off base rate of Avis Rent A Car and Budget Rent A Car
• 

  Trip and legal Assistance

Eligibility

• Credit Score

  Very Good
• Annual Income

  $60,000 personal or $100,000 household

Let's say you're more into travelling with Air Canada. If that's the case, the TD Aeroplan Visa Infinite card is actually considered to be the best Aeroplan credit card you can get.

What makes it so great? This co-branded Aeroplan contender is a well balanced option that earns you solid points on popular spend categories like gas and groceries, plus, of course, Air Canada purchases.

The card also includes important travel benefits like free first checked bags, a Nexus Program rebate, and the chance to earn Aeroplan Elite Status sooner.

You'll also be well-covered in terms of insurance, with 13 coverage categories like trip interruption and trip cancellation insurance, and emergency medical over 65 coverage.

All of these perks are available to loyal Air Canada customers for a reasonable annual cost, one that can actually be offset if you take advantage of all the add-ons.

So, if you plan on travelling with Air Canada consistently, and you want a good mix of rewards, coverage, and benefits, the TD Aeroplan Visa Infinite Card isn't just one of the best credit cards from TD, it's also the best Aeroplan credit card overall.

Best Credit Card from BMO

BMO isn’t a bank with the most brag-worthy credit cards, but it does have a cashback contender that’s worth considering.

BMO CashBack® World Elite® Mastercard®

BMO CashBack® World Elite® Mastercard®

4

Finly Rating

APPLY NOW

go to BMO's website

$75 Cash Rebate From FinlyWealth

Welcome Bonus*

10% cash back in your first 3 months up to $200

First Year Value

$759.78

Based on $2,000/mo spending. Calculate your rewards

Annual Fee*

$120 $0

Interest Rates

21.99% / 23.99%□

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

If you're seeking a cashback credit card, the BMO CashBack® World Elite® Mastercard® stands out for its excellent balance between rewards and benefits. It offers a robust rewards program and a comprehensive benefits list, making it a solid choice. The high first-year value is enhanced by the annual fee waiver, and those with a BMO Premium Chequing Account can enjoy continued fee waivers. While it's highly ranked for rewards alone, it may not be the absolute top choice if benefits are less important to you.

Pros & Cons

Pros

---

• Offers one of the highest cashbacks on groceries and gas, two of the most frequently spent categories, compared to other credit cards in Canada.
• Includes roadside assistance, a rare but valuable benefit for people on the road.
• Provides a comprehensive list of insurance coverage and benefits.
• High first-year value.

Cons

---

• Does not include restaurant purchases as a reward category, which is one of the most important spending categories.
• Monthly limits on cash back could be higher

Card Details

Rewards*

• 5% cash back on groceries (capped at $500 spending per statement, maximum of $25 in cashback per statement cycle)
• 4% cash back on daily transit (capped at $300 spending per statement, maximum of $12 in cashback per statement cycle)
• 3% cash back on gas (capped at $300 spending per statement, maximum of $9 in cashback per statement cycle)
• 2% cash back on recurring payments (capped at $500 spending per statement, maximum of $10 in cashback per statement cycle)
• 1% cash back on all other eligible purchases.

Insurance*

Coverage*

• 

  Emergency Out of province Medical

  $5M up to 8 days per covered person
• 

  Travel Accident

  $500,000
• 

  Flight Delay

  $500 After 4 hours delay
• 

  Lost or Stolen Baggage

  $500/person, $1,000 maximum
• 

  Baggage Delay

  $500/person, $1,000 maximum After 6 hours
• 

  Hotel Burglary Insurance

  $1,000
• 

  Car Rental Damage & Theft

  $65K up to 48 days
• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  1 year

Benefits*

Details*

• 

  Airport Lounge - Dragon Pass

  Complimentary membership in Mastercard Travel Pass provided by DragonPass. As a member enjoy lounge access for a fee of just US$32 per person, per visit.
• 

  Roadside Assistance

  Including battery boosts, flat-tire change, lockout service and towing – a $69/year value.
• 

  Car Rental Discount

  Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
• 

  Hotel Booking Discount

  Save up to 7% on your Booking.com prepaid hotel or property rental bookings at booking.com/mastercardcanada.
• 

  Global Data Roaming plan

  With FlexiRoam, stay connected around the world without a SIM card and get up to 15% off a Global Data Roaming plan plus up to 3GB of data, without any additional charges, if apply.
• 

  Gas Discount

  Get up to 7 cents off per litre on Shell® fuel, only for BMO cardholders.

Eligibility*

• Credit Score

  Good
• Annual Income

  $80,000 personal or $150,000 household

^*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. Check here for full details and current product information.

If you want to collect tons of cashback on groceries and transit, plus solid cashback on gas and recurring payments, you might want to apply for the BMO Cashback World Elite Mastercard.

On top of its competitive rewards program, cardholders will receive 9 insurance categories, including important coverages like hotel burglary insurance, travel accident insurance, and car rental damage and theft insurance.

The benefits don’t disappoint either. Indulge in roadside assistance to save you when you need a battery boost, a flat-tire change, lockout services or towing, not to mention car rental, hotel, and gas discounts, a global data roaming plan with FlexiRoam, and a complimentary Dragon Pass (excluding free visits).

The cost of the BMO Cashback World Elite Mastercard reflects its perks, and on the plus side, this annual fee is waived in your first year of account ownership.

Still, you’ll want to keep in mind that this card comes with relatively high income requirements – making it less accessible to some applicants.

So, if you’re a fan of valuable everyday cashback, helpful coverage, and travel perks to support every road trip, airport visit, and hotel stay, you might want to look into the BMO Cashback World Elite Mastercard.

Best Credit Card from Simplii Financial

Simplii Financial makes it pretty simple to point out its best credit card. That’s because there’s only one credit card worth considering.

Simplii Financial™ Cash Back Visa* Card

Simplii Financial™ Cash Back Visa* Card

4.4

Finly Rating

APPLY NOW

go to Simplii Financial™'s website

$60 Cash Rebate From FinlyWealth

Welcome Bonus*

8% cash back† up to $1,000 in spending

First Year Value

$414.08

Based on $2,000/mo spending. Calculate your rewards

Annual Fee*

$0

Interest Rates

20.99%* / 22.99%*

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

If you dine out a lot and don't want to pay an annual fee for your credit card, the Simplii Financial™ Cash Back Visa* Card will undoubtedly be one of your best friends with its 4% cashback. Additionally, the card offers a decent cashback rate (1.5%) for gas, pharmacy, and groceries, making it one of the best no-annual-fee cashback credit cards in Canada. However, there are limits on how much you can earn in these categories. Therefore, you need to be careful not to exceed those limits; otherwise, your cashback rate will drop to 0.5% after those spending limits are reached.

Pros & Cons

Pros

---

• Highest cashback rate on restaurant purchases in Canada!
• Decent cashback rate on high spent categories such as groceries and gas.
• No annual fee for a card with great rewards.

Cons

---

• No insurance and benefits other than the standard purchase protection and extended warranty.
• Cap on the rewards that can be earned on each category.

Card Details

Rewards*

• 4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year†
• 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year†
• 0.5% cashback on all other purchases†

Insurance*

Coverage*

• 

  Purchase Protection

  Up to 90 days
• 

  Extended Warranty

  Up to 1 year

Eligibility*

• Credit Score

  Good
• Annual Income

  $15,000 personal or $15,000 household

^*†Terms and conditions apply. Click ‘Apply Now’ for complete details. Banking services are not available in Quebec. *“Purchase” means any Transaction other than a Cash Advance, Balance Transfer or Convenience Cheque. “Cash” means a Cash Advance, Balance Transfer and Convenience Cheque. Interest rates may change from time to time. Check here for full details and current product information.

The Simplii Financial Cash Back Visa Card is considered to be one of the best no-annual-fee cashback credit cards in Canada.

If you’re a foodie, you’ll love the high cashback rates on eligible restaurant, bar, and coffee shop purchases. There’s also decent cashback potential on gas, groceries, drug store purchases, and pre-authorized payments. Just note that all specialized earn categories come with an annual cap, afterwards, you’ll be subject to a below-average base rate.

As is typically expected with a no-fee credit card, the Simplii Financial Cash Back Visa Card comes with basic coverage like purchase protection and extended warranty insurance.

Therefore, the Simplii Financial Cash Back Visa Card is the best uncomplicated credit card when it comes to optimizing dining purchases for no annual fee.

Best Credit Card from Tangerine

Tangerine comes with a couple of card options that offer cardholders some customization when it comes to earn categories. Coming up, we’ll break down the best card out of the two from this institution.

Tangerine World Mastercard

Tangerine World Mastercard

4.1

Finly Rating

APPLY NOW

go to Tangerine's website

$50 Cash Rebate From FinlyWealth

I currently have or may soon have a Tangerine Savings account

Yes

No

Welcome Bonus

10% Cash Back up to $100 value

First Year Value

$398.79

Based on $2,000/mo spending. Calculate your rewards

Annual Fee

$0

Interest Rates

20.95%* / 22.95%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Our Take

While we think Tangerine World Mastercard isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. For no annual fees

Pros & Cons

Pros

---

• Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
• 2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada. 
• Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
• Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.
• A few benefits such as free DragonPass for lounge access, Boingo Wi-Fi, and insurances like mobile insurance and car rental theft and damage insurance.

Cons

---

• With these income and credit score requirements, there are cards with no annual fees that offer much higher rewards and benefits.
• Very low cashback rate on the other categories not selected.

Card Details

Rewards

• 2% on the choice of two categories chosen from the 10 offered by Tangerine (3 if you have Tangerine's Savings account)
• 0.5% cashback on all other credit card purchases.

Insurance

Coverage

• 

  Purchase Protection

  90 days
• 

  Extended Warranty

  Up to a year
• 

  Mobile Device Insurance

  $1000
• 

  Car Rental Damage & Theft

  31 days

Benefits

Details

• 

  Airport Lounge - Dragon Pass

  Pass only. No Complimentary visits!
• 

  Boingo Wi-Fi hotspot

Eligibility

• Credit Score

  Good
• Annual Income

  $60,000 personal or $100,000 household

^*Terms and conditions apply. Check here for full details and current product information.

The no-fee Tangerine World Mastercard offers you a choice of two earn categories from the 10 options offered by Tangerine. If you happen to have a Tangerine savings account, you can up your selection allowance to 3 earn categories.

Tangerine earn category options include:

• Groceries
• Restaurant purchases
• Gas
• Recurring bill payments
• Entertainment
• Home improvement
• Drug store purchases
• Public transportation and parking
• Furniture purchases
• Hotel or motel bookings

Pro tip: if you choose categories like drug store purchases or recurring bill payments, you’ll receive some of the best cashback rates compared to other credit cards on the Canadian market.

To top off this card’s earning potential, cardholders receive standard insurance like purchase protection and extended warranty coverage, plus more sought-after mobile device insurance and car rental damage and theft insurance.

There are also a couple of benefits included on the Tangerine World Mastercard like an airport Lounge Dragon Pass membership (without any complimentary visits) and access to the Boingo Wi-Fi hotspot.

So, if you want the power to choose your own earn categories, the opportunity to earn big on recurring bill payments and drug store purchases (if you choose them for optimization), and decent coverage and benefits for a no-fee credit card, you might want to consider the Tangerine World Mastercard – the institution’s top pick.

Best Credit Cards from MBNA

Moving on to MBNA, we’re pleased to include a top Canadian rewards credit card.