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Top 10 Flat-Rate Credit Cards in Canada for February 2026
Published Jan 18, 2026 1:16 PM • 7 min read
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Written By
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Credit Card ExpertSometimes, it’s best to get a credit card that’s straight to the point (or straight to the cashback for that matter!). The best uncomplicated cards on the Canadian market are those that come with a flat-rate rewards program, meaning there’s only one reward rate on the card that optimizes all eligible purchases. In this blog post, we’ve categorized all of the best flat-rate credit cards in Canada into various categories.
Data-driven rankings of 120+ credit cards using a proprietary algorithm
Comprehensive analysis using 25+ data points including terms and conditions, points programs, and more
Objective editorial approach - we strive for unbiased reviews following our editorial guidelines
FinlyWealth's credit cards content, including rankings and recommendations, is overseen by a team of engineers and writers who specialize in credit cards, banking, and personal finance. Our work has been featured in The Globe and Mail, GoBankingRates, and AOL. Our proprietary analysis systems evaluate product features, terms, and conditions to deliver comprehensive reviews and comparisons while maintaining strict editorial standards for accuracy and integrity.
American Express® Green Card: Best Overall
Wealthsimple Visa Infinite*: Best Cashback
Wealthsimple Visa Infinite Privilege*: Best Premium Cashback
RBC Avion Visa Infinite Privilege: Best Premium Avion
RBC Avion Visa Platinum: Best Alternative Avion
Scotiabank Platinum American Express® Card: Best Flexible Points
American Express Business Platinum Card®: Best Business
EQ Bank Card: Best Prepaid
Capital One Smart Rewards™ Mastercard®: Best Financial Discipline
Home Trust Preferred Visa: Best No-Fee No Foreign Transaction Fees
Best Flat-Rate Credit Cards in Canada
Our choice for: Best Overall
APPLY NOW
on American Express' website
Welcome Bonus
Up to 10,000 Membership Rewards® points
Annual Fee
$0
Interest Rates
21.99%* / 21.99%*
RECOMMENDED CREDIT SCORE
300Poor
693⁎Fair
743⁎Good
790⁎Very Good
833⁎Excellent
3.9/5
The American Express® Green Card is a great option for those looking for a no-frills card that earns rewards on all purchases without any annual fee or minimum income requirement. It's an accessible card with no cap on rewards, making it ideal for those who want to earn points without the higher costs and complexities of premium cards. However, it does come with lower rewards earnings across most categories and a modest welcome bonus.
Pros
- No spending limits
- Flexible redemption options
- VIP perks
- Eco-friendly plastic
Cons
- Lower reward rates
- Limited travel perks
- Limited acceptance
Rewards
- 1x point per $1 spent on all purchases
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
Up to a year
Benefits
Details
Amex Experiences™
With Amex Experiences™ and Front Of The Line® Amex Presale Tickets, American Express Cardmembers get access to amazing events in Canada
Extra points
2 points on Amex Travel Online purchases
Eligibility
Credit Score
FairAnnual 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 29.99%.
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.
Our choice for: Best Cashback
APPLY NOW
on Wealthsimple's website
Welcome Bonus
$25 Exclusive bonus through FinlyWealth*
Annual Fee
See Rates
Interest Rates
20.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4/5
The Wealthsimple Cash Back Visa Infinite offers a conditional no-fee, no-FX-fee spending solution that earns 2% cash back on all purchases without any limits! It also lets you grow your rewards—as you can deposit your cashback whenever you want in a high-interest chequing account. Its simplicity and flexibility make it ideal for many Canadians.
Pros
- Decent cashback
- No premium client annual fee
- No foreign transaction fees
- Solid insurance
Cons
- High income requirements
- High annual fee
Rewards
- 2% cash back on all eligible purchases, no limits.
Insurance
Coverage
Mobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 year
Travel Medical Insurance*
14 days up to $2M (under age 65)
Trip Cancellation*
$1,000/person ($3,000 per trip)
Trip Interruption*
$1,000/person ($3,000 per trip)
Baggage Delay*
$500 ($1,000 combined with Lost or Stolen Baggage coverage)*
Lost or Stolen Baggage*
$750 ($1,000 combined with Baggage Delay coverage)*
Benefits
Details
No Foreign Transaction Fees
Avoid FX fees when you travel abroad
Visa Infinite Exclusive Benefits
Eligibility
Credit Score
GoodAnnual Income
$60,000 personal or $100,000 household
**Terms and conditions apply. The $25 bonus is only available to eligible new Wealthsimple clients who successfully open a chequing account and fund a minimum of $1. Wealthsimple is not responsible for maintaining the accuracy of information on this website. Refer to Wealthsimple's page for more details. Check here for full details and current product information.
Our choice for: Best Premium Cashback
APPLY NOW
on Wealthsimple's website
Welcome Bonus
$25 Exclusive bonus through FinlyWealth*
Annual Fee
See Rates
Interest Rates
20.99%* / 22.99%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.4/5
The Wealthsimple Cash Back Visa Infinite Privilege offers a conditional no-fee, no-FX-fee spending solution that earns 2% cash back on all purchases without any limits! It's currently the ONLY Visa Infinite Privilege card with an annual fee that can be completely waived. It also lets you grow your rewards—as you can deposit your cashback whenever you want in a high-interest chequing account. Its simplicity and flexibility make it ideal for many Canadians.
Pros
- Decent cashback
- No premium client annual fee
- No foreign transaction fees
- Solid insurance
- Airport lounge access
Cons
- High annual fee
- High income requirements
Rewards
- 2% cash back on all eligible purchases, no limits.
Insurance
Coverage
Mobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
1 yearTravel Medical Insurance*
14 days up to $2M (under age 65)Trip Cancellation*
$1,500/person ($5,000 per trip)Trip Interruption*
$1,500/person ($5,000 per trip)Baggage Delay*
$1,000 ($1,250 combined with Lost or Stolen Baggage coverage)*Lost or Stolen Baggage*
$1,000 ($1,250 combined with Baggage Delay coverage).svg)
Car Rental Damage & Theft*
31 days, $65K car MSRP
Benefits
Details
No Foreign Transaction Fees*
Avoid FX fees when you travel abroadVisa Infinite Exclusive Benefits*
Airport Lounge - Dragon Pass*
6 complimentary visits
Eligibility
Credit Score
GoodAnnual Income
$150,000 personal or $200,000 household
**Terms and conditions apply. The $25 bonus is only available to eligible new Wealthsimple clients who successfully open a chequing account and fund a minimum of $1. Wealthsimple is not responsible for maintaining the accuracy of information on this website. Refer to Wealthsimple's page for more details. Check here for full details and current product information.
Our choice for: Best Premium Avion
APPLY NOW
on RBC's website
Welcome Bonus
Up to 70,000 Avion points*
Annual Fee
$399
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.4/5
The RBC Avion Visa Infinite Privilege is an excellent choice for frequent travelers who want premium travel perks and high-value rewards. The welcome bonus, insurance coverage, and airport benefits offer significant value for those who qualify. However, the high annual fee and income requirements may limit its accessibility, and the reward rate outside of the travel chart is less competitive.
Pros
- High value travel points
- Extensive Coverage
- Airport perks
- Flexible rewards
- Airport lounge access
Cons
- Higher annual fee
- High income requirements
- Relatively lower rewards
- Limited redemption options
Rewards
- 1.25x Avion points per $1 spent on all eligible purchases
Insurance
Coverage
Purchase Protection
120 daysExtended Warranty
Up to 2 yearsMobile Device Insurance
$1,500
Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance
31 daysTravel Medical Insurance (65+)
7 daysTrip Interruption
$5,000Trip Cancellation
$2,500
Hotel Burglary Insurance
$3,000Baggage Delay
$750Lost or Stolen Baggage
$2,500Flight Delay
$1,000Car Rental Damage & Theft
yes
Benefits
Details
Airport Lounge - Dragon Pass
Visa Airport Companion membership + 6 complimentary airport lounge visits per year.svg)
Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada and 20% more Avion points at Petro-CanadaExtra points
50 Be Well points for every $1 spent on eligible products at Rexall.svg)
Concierge Services
Connect to the Visa Infinite Privilege Concierge like having a personal assistant on call!
Priority Travel
Enjoy global airport lounge access, airport security fast track lanes, and dedicated airport parking at select Canadian airportsVisa Infinite Exclusive Benefits
Dining series and Visa Infinite Luxury Hotel Collection offers with benefits like late check out and upgrades
Discount
Add your credit card to your DoorDash account and get a free 12-month DashPass subscription
Eligibility
Credit Score
GoodAnnual Income
$200,000 personal or $200,000 household
** This offer only applies to new applications for an RBC Avion Visa Infinite Privilege credit card approved by Royal Bank of Canada (“Royal Bank”) subject to the conditions below. Additional cardholders(s) (co-applicant and authorized user(s)) on the RBC Avion Visa Infinite Privilege credit card account, as well as existing cardholders on any RBC Royal Bank personal credit card account transferring to an RBC Avion Visa Infinite Privilege credit card account during the Offer Period, are not eligible for the offer.
Refer to RBC page for up to date offer terms and conditions. The Website may engage in affiliate marketing, which is done by embedding tracking links into The Website. If you click on a link for an affiliate partnership, a cookie will be placed on your browser to track any sales for purposes of commissions. Check here for full details and current product information.
Our choice for: Best Alternative Avion
APPLY NOW
on RBC's website
Welcome Bonus
Get up to 55,000 Avion points(1) (max travel value of $1,100†)
Annual Fee
$120
Interest Rates
20.99% / 22.99%□
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.5/5
The RBC Visa Platinum Avion is a solid option for those who prefer flexible travel rewards without the high-income requirements of other premium cards. The welcome bonus, extensive insurance, and travel rewards flexibility offer good value for frequent travelers. However, the 1 point per $1 earn rate may be less appealing for those looking for higher rewards on everyday purchases.
Pros
- Comprehensive insurance
- Petro Canada perks
- No income requirements
Cons
- Annual fee
- Low optimization
- Low non-travel value
Rewards
- Earn 1 Avion point on all eligible purchases2. Plus, Avion points never expire14.
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Up to 1 yearCommon Carrier Travel Accident Insurance
$500,000Trip Interruption
$2,500Trip Cancellation
$1,000Hotel Burglary Insurance
$2,500Baggage Delay
$500Lost or Stolen Baggage
$500Flight Delay
$1,000Car Rental Damage & Theft
yes
Benefits
Details
Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada and 20% more Avion points at Petro-CanadaExtra points
50 Be Well points for every $1 spent on eligible products at Rexall
Eligibility
Credit Score
GoodAnnual Income
N/A
*Refer to RBC page for up to date offer terms and conditions. The Website may engage in affiliate marketing, which is done by embedding tracking links into The Website. If you click on a link for an affiliate partnership, a cookie will be placed on your browser to track any sales for purposes of commissions. Check here for full details and current product information.
Our choice for: Best Flexible Points
APPLY NOW
on Scotiabank's website
Welcome Bonus
Up to 80,000 Scene+ points ($800 value)
Annual Fee
$399
Interest Rates
9.99% / 9.99%
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.8/5
The Scotiabank Platinum American Express is the perfect choice for those seeking a super premium credit card without steep income requirements. With a high flat rate of rewards on all purchases, extensive insurance coverage, and flexible travel redemption options, it offers full-featured perks that cater to frequent travelers and savvy spenders alike.
Pros
- Low interest rates
- Strong rewards
- Airport lounge access
- Comprehensive travel insurance
- Flexible travel rewards
- No foreign transaction fees
Cons
- Higher annual fee
- Limited premium perks
Rewards
- Earn 2x Scene+ points for every $1 spent on all other eligible 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
Travel Medical Insurance
$2M, Up to 31 daysTravel Medical Insurance (65+)
$2M, Up to 10 daysTrip Cancellation
$2500/person, $10000/tripLost or Stolen Baggage
$500/person, $1000/tripTrip Interruption
$5000/person, $25000/tripBaggage Delay
$1000 After 4 hoursFlight Delay
$1000/personCommon Carrier Travel Accident Insurance
$500K/person, $1M/occurrenceCar Rental Damage & Theft
$65K up to 48 daysHotel Burglary Insurance
$1000/occurrenceMobile Device Insurance
$1000Purchase Protection
120 daysExtended Warranty
Up to a year
Benefits
Details
No Foreign Transaction Fees
Airport Lounge - Plaza Premium
10 visits, 4 visits for secondary card (combined with the Priority pass)Airport Lounge - Priority Pass
10 visits, 4 visits for secondary card (combined with the Plaza Premium)American Express® Experiences
Concierge Services
Discount
Discount on PriorityPass Membership.svg)
Status lift
Hertz #1 Club Gold MemberExtra points
Extra 4 Scene+ points per Canadian dollar spent on hotel and car rental bookings made through Scene+ Travel using your Scotiabank Platinum American Express Card
Eligibility
Credit Score
GoodAnnual 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.
Our choice for: Best Business
APPLY NOW
on American Express' website
Welcome Bonus
Earn up to 120,000 bonus Membership Rewards® points
Annual Fee
$799
Interest Rates
21.99% - 30%* / 21.99% - 30%*
RECOMMENDED CREDIT SCORE
300Poor
693Fair
743⁎Good
790⁎Very Good
833⁎Excellent
4.6/5
The Business Platinum Card® from American Express is ideal for frequent business travelers who can take full advantage of the premium perks and extensive insurance coverage. Despite the high annual fee, the generous rewards and travel benefits may offset the cost for those who maximize the card's offerings.
Pros
- Optimize all purchases
- Premium travel perks
- Comprehensive insurance
- Interest grace period
- Business statement credits
Cons
- High annual fee
- Limited acceptance
Rewards
- 1.25x points per $1 spent on all purchases
Insurance
Coverage
Common Carrier Travel Accident Insurance
$500,000Travel Medical Insurance
15 daysFlight Delay
$1,000Baggage Delay
$1,000Lost or Stolen Baggage
$1,000Hotel Burglary Insurance
$1,000Trip Cancellation
$1,500Trip Interruption
$1,500Mobile Device Insurance
$1,500Car Rental Damage & Theft
YesExtended Warranty
1 yearPurchase Protection
90 days
Benefits
Details
Airport Lounge - American Express Global Lounge
Take full advantage of the American Express Global Lounge CollectionTM which unlocks access to over 1400 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. Terms and Conditions apply.Status lift
Earn Marriott Bonvoy Gold Elite status by spending $30,000 or staying 10 nights combined with 15 Elite Night Credits. Status retention depends on Marriott Bonvoy terms.
Free Extra Night at Hotels
Each year, 8-10 weeks after your anniversary, receive a Free Night Award for a Marriott Bonvoy room up to 35,000 points, valid for 1 year. Resort fees excluded.
Interest on Balance
Up to 55 interest-free days
Nexus Program Rebate
Access a $100 credit for NEXUS with your CardmembershipConcierge Services
Personalized concierge at your serviceDiscount
Your Business Platinum Card gets you savings on the seats you really want and lower fares on premium tickets with participating airlinesAmerican Express® Experiences
Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts, theatre shows, and special offers with American Express® ExperiencesPriority Travel
At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park.svg)
Travel Credit
Access a $200 Annual Travel Credit each year of your Cardmembership
Wireless Credit
Up to $120 in statement credits each year. Spend $10 each month with eligible wireless providers month and get a $10 credit.
Business Statement Credits
Up to $500 in business statement credits. Enroll and earn statement credits on eligible purchases with $200 Dell statement credit, $300 Indeed statement credit.
Complimentary Hotel Benefits
Enjoy Fine Hotels + Resorts benefits at over 1,600 properties worldwide like guaranteed late check-out, complimentary breakfast for two, and more with Business Platinum.
Eligibility
Credit Score
GoodAnnual Income
N/A
*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.
Our choice for: Best Prepaid
APPLY NOW
on EQ Bank's website
RECOMMENDED CREDIT SCORE
300⁎Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.4/5
The EQ bank card is not a credit card; it's a prepaid card, so you will not be able to get the same level of rewards as when using a credit card and it will not build credit. But if getting a prepaid card is your goal, then this card is, without a doubt, the best choice. Voted the best "Prepaid Card" in Canada, this card offers rewards and benefits that are mostly not offered by other prepaid cards. Earning interest on balance, rewards on purchases, no foreign transaction fee, and especially the unique no ATM fee that no other card provides, makes this card the best among prepaid cards.
Pros
- Best prepaid card
- No ATM fees
- Interest earned on balance
- No foreign transaction fee
- Some purchase cashback
Cons
- No insurance
Rewards
- 0.5% cash back on every purchase
Benefits
Details
No Foreign Transaction Fees
Pay no extra FX fees when making purchases outside of Canada
Free ATM withdrawal
ATM fee reimbursement for Canada onlyInterest on Balance
Base rate of 1.00%*, or 2.75%** bonus rate
Eligibility
Credit Score
N/AAnnual Income
N/A
*EQ Bank is not responsible for maintaining accuracy of content on this site. Please refer to EQ Bank's site for the latest product details. Check here for full details and current product information.
Our choice for: Best Financial Discipline
APPLY NOW
on Capital One's website
RECOMMENDED CREDIT SCORE
300⁎Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.9/5
The Capital One Smart Rewards™ Mastercard® takes a completely unique approach to credit card rewards by rewarding payment behavior rather than spending. This Canadian card earns 5 points per dollar paid toward your balance instead of rewarding purchases, which encourages responsible financial habits and consistent payment behavior. At a 1.25% return on payments (with points worth 0.25 cents each), the rewards value is actually quite competitive for a no-annual-fee card, making it both a financial discipline tool and a legitimate rewards earner. This card is particularly appealing to those who want to avoid spending-based reward temptations while still earning meaningful returns, though it requires a different mindset than traditional rewards cards.
Pros
- Solid balance payment return
- Unique rewards structure
- No annual fee
- Encourages consistent payment behaviour
- Some travel coverage
- Enhanced insurance coverage
Cons
- Lower earning potential
- No purchase optimization
- No welcome offer
- Confusing rewards program
- Limited redemption options
Rewards
- 5 points per $1 paid towards your balance
Insurance
Coverage
Common Carrier Travel Accident Insurance
$250,000Baggage Delay
$100/day up to 3 daysCar Rental Damage & Theft
Up to 31 daysPurchase Protection
120 daysExtended Warranty
double up to 2 years
Benefits
Details
Price Protection
60 days, Up to $100 per item, $500 per year
Eligibility
Credit Score
PoorAnnual Income
N/A
*Capital One is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for a Capital One card, (I/we) may receive compensation from Capital One, which can be in the form of monetary payment. Check here for full details and current product information.
Our choice for: Best No-Fee No Foreign Transaction Fees
APPLY NOW
on Home Trust's website
RECOMMENDED CREDIT SCORE
300Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.5/5
The Home Trust Visa card is the only no-annual-fee credit card in Canada that offers no foreign transaction fees, which is a significant benefit for frequent travelers. The big catch is that you don't earn any rewards on foreign purchases, so if you have a credit card that gives you a cashback rate close to 2.5%, it might not be worth the hassle to get this card. Other than this benefit, there are no compelling reasons to use this card as your primary credit card.
Pros
- No annual fee
- No foreign transaction fees
Cons
- Average rewards
- No extended warranty insurance
- No welcome bonus
Rewards
- 1% cashback on all eligible purchases.
- Foreign transactions don't receive cashback!
Insurance
Coverage
Purchase Protection
Up to 90 days
Benefits
Details
No Foreign Transaction Fees
Eligibility
Credit Score
FairAnnual Income
N/A
From Our Editors: The Full List of Best Flat-Rate Credit Cards in Canada
Best Overall: American Express Green Card
The American Express Green Card, one of the best no-fee credit cards in Canada, is our top flat-rate contender for a couple of reasons. Firstly, it has no annual fee, making it much more appealing to the budget-conscious. Secondly, this card comes with exclusive Amex Experiences, plus the ability to collect bonus points on Amex Travel Online purchases. Not to mention, this card is green in more ways than one, fabricated using eco-friendly plastic. For more information, check out our American Express Green Card Review.
Best Cashback: Wealthsimple Visa Infinite Card
Looking to collect cashback instead of points? Consider the Wealthsimple Visa Infinite Card. This competitor earns solid cashback on all eligible purchases. The rewards program is accompanied by comprehensive insurance and valuable perks like no foreign transaction fees. The catch? Unfortunately, to qualify for this card, you'll need to meet some high annual income requirements. You'll also need to pay a high annual fee. See more in our Wealthsimple Visa Infinite Card Review.
Best Premium Cashback: Wealthsimple Visa Infinite Privilege Card
Want to take your cashback to the next level? Upgrade to the Wealthsimple Visa infinite Privilege Card. This card also has strong cashback on all eligible purchases, comprehensive insurance, and no foreign transaction fees. Additionally, cardholders receive Dragon Pass airport lounge access. Still, applicants must pay a hefty annual fee and meet the high annual income requirements to qualify. Get all the details in our Wealthsimple Visa Infinite Privilege Card Review.
Best Premium Avion: RBC Avion Visa Infinite Privilege Card
Travellers will be most intrigued by the RBC Avion Visa Infinite Privilege Card. This contender earns decent Avion points per dollar spent on all eligible purchases. To entice applicants even further, the card boasts comprehensive insurance, including protection categories like trip interruption and trip cancellation insurance, plus travel medical insurance. For perks, expect benefits like Dragon Pass airport lounge access, priority travel perks, and concierge services. Note, however, that this card comes with some of the highest annual fees and income requirements on this list. Read more in our RBC Avion Visa Infinite Privilege Card Review.
Best Alternative Avion: RBC Avion Visa Platinum Card
How about an Avion credit card that's a little more attainable? The RBC Avion Visa Platinum Card offers an Avion point per dollar spent on eligible purchases, comprehensive insurance, gas discounts, and extra Be Well points on Rexall purchases, all for a lower annual fee and no income requirements. Discover more in our RBC Avion Visa Platinum Card Review.
Best Flexible Points: Scotiabank Platinum American Express Card
For points with flexible redemptions, apply for the Scotiabank Platinum American Express Card, one of the best no foreign transaction fee credit cards in Canada. This card earns you Scene+ points per dollar spent on all eligible purchases, plus the opportunity to earn more points when you book trips through Scene+ Travel, Powered by Expedia. In addition to extensive insurance coverage, cardholders receive no foreign transaction fees, airport lounge access, and more. Keep in mind, while the income requirements are low, the annual fee is still a bit high. Learn more in our Scotiabank Platinum American Express Card Review.
Best Business: American Express Business Platinum Card
On the business side of things, the American Express Business Platinum card is a luxurious contender and one of the best business credit cards in Canada. On top of points per dollar spent on all purchases, cardholders receive comprehensive insurance coverage, impressive airport lounge access, an annual travel credit, business statement credits, interest on balance, hotel perks, and more. That said, to account for such luxury, this competitor comes with a high annual fee. Get the full scoop in our American Express Business Platinum Card Review.
Best Prepaid: EQ Bank Card
Suffering from poor credit? Consider the EQ Bank prepaid credit card, one of the best credit cards for bad credit in Canada. For no annual fee, you can load funds onto this card and earn some cashback on every purchase. You'll also receive perks like no foreign transaction fees, free ATM withdrawals, and interest on your balance. Read more in our EQ Bank Card Review.
Best Financial Discipline: Capital One Smart Rewards Mastercard
This card collects plenty of points per dollar paid towards your balance, making it an exceptional financial discipline tool. Cardholders also receive some coverage and rare price protection insurance. See more in our Capital One Smart Rewards Mastercard Review.
Best No-Fee No Foreign Transaction Fees: Home Trust Preferred Visa Card
Want no foreign transaction fees for no annual fee? If so, apply for the Home Trust Preferred Visa Card. With this card, you'll also receive some cashback on all eligible purchases, plus purchase protection insurance. Get the complete breakdown in our Home Trust Preferred Visa Card Review.
Flat-Rate vs Tiered Rewards Credit Cards
A flat-rate rewards credit card earns you the same amount of points or cashback on all eligible purchases. This reward structure is predictable and easy to understand. That said, most of the time, flat-rate credit cards offer lower overall reward rates compared to tiered rewards credit cards.
Tiered rewards credit cards offer different amounts of points or cashback per specialized category. For example, you might earn 4% cashback on groceries, 3% cashback on gas, and 1% cashback on everything else. This reward structure offers higher earning potential but sometimes requires more strategy and purchase planning.
Flat-Rate Rewards | Tiered Rewards | |
|---|---|---|
Ease of use | Simple | Requires attention to categories |
Earning potential | Lower for category spending | Higher with smart usage |
Best for | Moderate spenders | Strategic or high-category spenders |
Ideal user | Minimalist | Maximizer |
Read More: Flat-Rate vs Tiered Rewards Credit Cards
How to Apply for Flat-Rate Credit Cards in Canada
To apply for any of the flat-rate credit cards mentioned above, simply tap the "Apply Now" button featured below your card of choice. From there, you'll be redirected to the issuer's official website to begin the application process. Credit card applications typically ask for personal information, such as your birthdate, address, and email. They may also ask for financial information, like your income, when applicable.
Frequently Asked Questions
Canadians seeking a straightforward and simple rewards program should opt for a flat-rate rewards credit card.
If you use your credit card for everything and don't want to have multiple cards in your wallet, then a flat-rate credit card is worthwhile for ease of optimization. However, if you want to maximize return, apply for multiple credit cards with high bonus categories and use them strategically on appropriate purchases.
Learn More: Strategic Card Switching: Maximizing Rewards for Canadians
Typically, flat-rate credit cards do not offer bonus earn categories. That said, as an added perk, some contenders offer additional rewards when you purchase from partner retailers.
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About the author
Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
SEE FULL BIOAbout the editor
Kevin Shahnazari
Credit Card Expert
Kevin started FinlyWealth and juggles a bit of everything—digging into data, running our marketing, and keeping the finances on track. Before this, he spent years as a data scientist at tech companies...
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