Canada&#x27;s 12 Best Mastercard Credit Cards of September 2025

on MBNA's website

$120 Cash Rebate From FinlyWealth + Up to 30,000 points ($245 in cash back value or $300 when redeemed for MBNA Travel)††

Welcome Bonus

Up to 30,000 points ($245 in cash back value or $300 when redeemed for MBNA Travel)††

Rewards Rate

1x - 5x Points

Points

Annual Fee

$120

Interest Rates

19.99%* / 24.99%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

BMO CashBack® World Elite® Mastercard®

Our Take

The MBNA Rewards World Elite® Mastercard® is one of the best reward credit cards in Canada, offering high rewards on frequently spent categories such as groceries and restaurant purchases. The annual birthday bonus, unique to this card, also provides a significant boost to your yearly earnings. Additionally, the card features a comprehensive list of benefits, including price protection—a rare and valuable perk not found with many other cards in Canada. These factors make this card one of the best to have in Canada.

Pros & Cons

Pros

Both restaurants and groceries earn the most rewards, two of the most commonly spent categories.
The MBNA rewards world elite Mastercard offers a great annual birthday bonus with up to $150 in value.
A solid list of travel insurance and benefits.
Price protection, a rare feature not offered by many other cards.
Good value for many of the card's redemption options.

Cons

Trip cancellation and interruption insurance, two great benefits are missing from this card.
Not the best card for gas purchases.

Card Details

Rewards

Earn 5 points^‡ for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category.
1 point^‡ for every $1 on all other eligible purchases.
Each year, you will receive Birthday Bonus Points^‡ equal to 10% of the total number of Points the Account earned in the 12 months before the month of the primary cardholder's birthday, to a maximum Birthday Bonus each year of 15,000 Points.

Insurance

Coverage

Mobile Device Insurance
$1000
Purchase Protection
Up to 90 days
Extended Warranty
Up to a year
Car Rental Damage & Theft
31 days
Flight Delay
$500/person after 4 hours
Travel Accident
$1,000,000
Emergency Medical Term
$2M for 21 days
Lost or Stolen Baggage
$1000/person
Baggage Delay
$1000/person

Benefits

Details

Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 15,000 bonus points per year)
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Trip and legal Assistance
Concierge Services
Price Protection
$500/item, $1000/account per year

Eligibility

Credit Score
Good
Annual Income
$80,000 personal or $150,000 household

^**, ††, ‡, ✪, ***, ††††, Terms and Conditions apply. This offer is not available for residents of Quebec. Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button. The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank. Check here for full details and current product information.

With high rewards in two of the most popular categories (restaurants and groceries), a generous annual birthday bonus, and a solid list of travel insurance, the MBNA Rewards World Elite Mastercard is one of the best reward credit cards in Canada.

Take advantage of the welcome bonus and the birthday bonus to boost your first year value significantly – a value that more than makes up for the annual fee, even in the years that follow.

Regarding coverage, you can expect travel-specific protections like travel accident, flight and baggage delay, or emergency out of province medical. Pair those with typical purchase protection and extended warranty, plus mobile device insurance, and the rare price protection perk.

This high-value card comes with some higher expectations, so make sure you meet the income requirements and credit score recommendation to apply.

Ultimately, this card takes first place on account of how balanced it is compared to its competitors. It gives you high rewards and good benefits at a low annual fee. Need more convincing? Check out the MBNA Rewards World Elite review.

Best Mastercard Credit Cards for Cashback

Sometimes, cashback credit cards are a little easier to navigate. If that’s the case, here are some of our top picks for this category:

4.1

on BMO's website

$125 Cash Rebate From FinlyWealth + Get up to $335 in additional cash back**

Welcome Bonus

Get up to $335 in additional cash back**

Rewards Rate

1% - 5%

Cash Back

Annual Fee

$120 $0

Interest Rates

21.99% / 23.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Desjardins Cash Back World Elite® Mastercard®

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 Medical Term
$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 MSRP 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.

Similar to the MBNA Rewards World Elite Mastercard, the BMO Cashback World Elite Mastercard has a high income requirement. The cards also share the same annual fee, except the BMO Cashback World Elite Mastercard’s annual fee is waived in the first year, contributing to a first year value that’s almost as impressive as its points competitor.

In terms of rewards, the BMO Cashback World Elite Mastercard has one of the highest cashback rates on groceries and gas (which is helpful since the MBNA Rewards World Elite Mastercard isn’t so great for gas rewards). However, this card doesn't include any special rates on restaurant purchases (like the MBNA Rewards World Elite Mastercard), which is beneficial since restaurant expenses tend to be more expensive than other everyday purchases.

The BMO Cashback World Elite Mastercard also has a decent list of coverage, but instead of mobile device insurance (like the MBNA Rewards World Elite Mastercard) the card offers Hotel Burglary Insurance.

Travelers will also enjoy the added airport lounge Dragon Pass, hotel booking discount, and Boingo Wi-Fi hotspot added to the BMO Cashback World Elite Mastercard. Regarding rare benefits, the BMO Cashback World Elite Mastercard also comes with roadside assistance.

The choice between the BMO Cashback World Elite Mastercard and the MBNA Rewards World Elite Mastercard ultimately comes down to whether you prefer points or cashback rewards, if you want to optimize your gas expenses, and if you want a couple of travel-oriented benefits on top of decent coverage. If you prefer cashback, care about your earnings on gas, and want to pocket the previously mentioned benefits, then the BMO Cashback World Elite Mastercard might be the card for you, otherwise the MBNA Rewards World Elite Mastercard is the better choice.

2.9

on Desjardins' website

Welcome Bonus

N/A

Rewards Rate

1% - 4%

Cash Back

Annual Fee

$100

Interest Rates

20.90% / 21.90%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Rogers Red World Elite® Mastercard®

Our Take

The Desjardins Cash Back World Elite Mastercard stands out for its high earn rates across essential spending categories, including 4% cash back on groceries and 3% on restaurants, entertainment, and transit. Additionally, it offers a slightly lower annual fee compared to other World Elite Mastercards, making it an attractive option for those looking to maximize their rewards without breaking the bank. With added perks like membership to over 1,300 airport lounges and various insurance coverages, this card provides excellent value, especially for frequent travelers and everyday spenders.

Pros & Cons

Pros

High earn rates make it a strong option for those looking to maximize rewards on their spending.
Slightly lower annual fee compared to other cards in its category, providing good value for its benefits.
Comes with attractive perks from being a World Elite Mastercard, such as travel and purchase protection benefits. Membership to 1,300 airport lounges across the globe through DragonPass (no free passes)

Cons

Limited physical branch access, with branches only in Quebec and Ontario, which may be inconvenient for those living elsewhere.
Lacks a welcome bonus, which may be a drawback compared to other cards offering substantial introductory offers.

Card Details

Rewards

4% cash back on grocery purchases (up to $400 cash back annually)
3% cash back on restaurant purchases (up to $180 cash back annually)
3% cash back on entertainment and alternative transportation purchases
1% cash back on all other purchases

Insurance

Coverage

Extended Warranty
1 year
Purchase Protection
90 days
Mobile Device Insurance
$1,000
Trip Cancellation
$500 for trips up to 3 days
Trip Interruption
$1,000 for trips up to 3 days
Emergency Medical Term
$5M for trips up to 3 days
Emergency Medical (65+)
$5M for trips up to 3 days
Baggage Delay
$500 for trips up to 3 days
Lost or Stolen Baggage
$500 for trips up to 3 days
Car Rental Damage & Theft
Yes

Benefits

Details

Airport Lounge - Dragon Pass
Pass only
Boingo Wi-Fi hotspot
over 1 million Boingo Wifi hotspots worldwide
Car Rental Discount
25% off base rate off Hertz car rental
Car Rental Discount
10% off base rate off Thrifty or Dollar rental

Eligibility

Credit Score
Very Good
Annual Income
$80,000 personal or $150,000 household

At a slightly lower annual fee than the BMO Cashback World Elite Mastercard (although not waived in the first year), with similar annual income requirements, and a “very good” credit score recommendation, the Desjardins Cash Back World Elite Mastercard is a great runner-up in this cashback category.

Compared to the BMO Cashback World Elite Mastercard, this card has a slightly lower cashback rate on groceries and gas, but a decent earn rate in place for restaurant and entertainment purchases, which as previously mentioned can often be more expensive.

A few helpful coverage categories the Desjardins Cash Back World Elite Mastercard adds are emergency medical over 65, trip interruption and trip cancellation insurance, and mobile device insurance, which are all sought-after protections.

Unlike the BMO Cashback World Elite Mastercard, there’s no welcome bonus and the first year value is significantly lower.

As for benefits, the two cashback cards mentioned so far offer car rental discounts, the airport lounge Dragon Pass, and the Boingo Wi-Fi hotspot. However, the list ends there for the Desjardins Cash Back World Elite Mastercard, whereas the BMO Cashback World Elite Mastercard continues on with roadside assistance, a gas discount, and a hotel booking discount.

So, if you dine out often and enjoy entertainment, and if you want some more valuable insurance coverage at a lower annual fee, the Desjardins Cash Back World Elite Mastercard could be a good alternative to the BMO Cashback World Elite Mastercard.

Our choice for: Flat cash back rate with some travel perks

4.8

Welcome Bonus

N/A

Rewards Rate

1.5% - 3%

Cash Back

Annual Fee

Interest Rates

20.99% - 25.99%* / 22.99% - 27.99%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

BMO Ascend™ World Elite®* Mastercard®*

Our Take

This card is one of the best in Canada, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is higher than what almost any other card offers, even those with annual fees! Additionally, for a no-fee card, you gain access to an extensive list of travel benefits, many of which are typically offered only with cards that have annual fees. Therefore, we recommend this card to anyone who meets the income requirements, even if you are not a Rogers customer!

Pros & Cons

Pros

Voted the Best No Annual Fee Cash Back Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, Comwave or Fido services, potentially increasing your rewards.
The Roam Like Home benefit is a benefit unique only to this card through an eligible Rogers mobile plan.
It is accepted at nearly all locations as it's a Mastercard.

Cons

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.

Card Details

Rewards

Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.^{^}
Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave or Shaw.^{^}
Otherwise earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.^{^}
Get 1.5 times more cash back every time you redeem for Rogers, Fido, Comwave or Shaw purchases.^{^}
5 Roam Like Home days at no cost with an eligible Rogers mobile plan every year (up to $90 value).^{^}

Insurance

Coverage

Emergency Medical Term
Up to 10 days
Emergency Medical (65+)
Up to 3 days
Trip Cancellation
$1,000/person, $5,000 maximum
Trip Interruption
$1,000/person, $5,000 maximum
Car Rental Damage & Theft
31 days, $65,000 car MSRP
Purchase Protection
90 days
Extended Warranty
1 year

Benefits

Details

Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
No Cost roaming
5 days with eligible Rogers mobile plan

Eligibility

Credit Score
Good
Annual Income
$80,000 personal or $150,000 household

^**, ^, Terms and conditions apply. Rogers Bank is not responsible for maintaining or controlling the accuracy of the information published on this website. For full and up-to-date product information, visit Rogersbank.com. Standard rate on Purchases and Fees: 20.99%. Standard rate on Cash Advances, Cash-like Transactions and Balance Transfers: 22.99%. If you are not approved for an Account at the above rates and you reside outside Quebec, we (Rogers Bank) may still issue you an Account at our alternate interest rates, as follows: Standard Rate for Purchases and Fees: 25.99%, Standard Rate for Cash Advances, Cash-like Transactions and Balance Transfers: 27.99%. ®/TM Mastercard and World Elite are registered trademarks and the circles design is a trademark of Mastercard International Incorporated. Used under license. TM Rogers and Mobius Design, Rogers Bank and related marks, logos and brand names are trademarks of Rogers Communications Inc., or an affiliate, used under license. © 2025 Rogers Bank. Rogers Bank is the issuer of this credit card. Check here for full details and current product information.

Voted the best cashback credit card in Canada for Rogers, Fido and Shaw customers, and the best no annual fee credit card in Canada, this card’s standout features are its high rewards and rare coverage. Of course though, like a couple of the other cards mentioned above, these perks are accompanied by higher income requirements and credit score recommendations.

For rewards, earn competitive cashback on U.S dollar purchases, a solid rate on regular purchases if you have a qualifying Rogers, Fido, or Shaw account, and a generous base rate on all other purchases if you’re a qualifying account holder.

Some of the supreme coverage you can expect is trip interruption and trip cancellation insurance, and emergency medical over 65, all at no upfront cost. Plus, travellers will also receive the airport lounge Dragon Pass and no cost roaming.

So, if you’re a Rogers, Fido or Shaw customer, and you’re looking for no annual fees, high-rewards, and valuable coverage, you can’t miss out on the Rogers Red World Elite Mastercard (more details here). That said, if you're not a Rogers, Fido or Shaw account holder, this card won't be as valuable and you'll want to look elsewhere.

Best Mastercard Credit Cards For Travel

While we’ve uncovered some great cards with travel benefits in the previous category already, here’s a deeper dive into Mastercard’s best travel credit cards.

3.5

on BMO's website

$125 Cash Rebate From FinlyWealth + Up to 90,000 points and first annual fee waived**

Welcome Bonus

Up to 90,000 points and first annual fee waived**

Rewards Rate

1x - 5x points

Points

Annual Fee

$150 $0

Interest Rates

21.99% / 23.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

National Bank World Elite® Mastercard®

Our Take

The BMO Ascend World Elite Mastercard is perfect for frequent travelers who want a premium card offering high earning rates on travel, dining, and entertainment, plus valuable travel perks like lounge access and comprehensive insurance coverage. If you travel often and can meet the income requirement, this card offers flexibility and peace of mind with both rewards and protection while you're on the go.

Pros & Cons

Pros

Generous rewards: 5 points per $1 spent on travel, 3 points per $1 spent on dining, entertainment, and recurring bills, and 1 point per $1 on other purchases.
Lounge access: Includes 4 free annual lounge passes through Mastercard Travel Pass.
Comprehensive insurance: 14 types of insurance, including emergency medical and trip cancellation coverage.
First year fee waived: Try the card for a year without paying the $150 annual fee.

Cons

Low point value: Points are worth only 0.67 cents each, which is lower than other cards.
High income requirements: Requires $80,000 personal income or $150,000 household income, making it inaccessible for many.
Limited lounge availability: Users have reported issues with lounge access.

Card Details

Rewards

5x points per $1 spent on eligible travel purchases (up to $15,000 spent)
3x points per $1 spent on eligible dining, recurring bill payment and entertainment purchases (up to $10,000 spent per category)
1x point per $1 spent on all other eligible purchases

Insurance

Coverage

Purchase Protection
90 days
Extended Warranty
Double up to 1 year
Emergency Medical Term
$5M up to 21 days
Travel Accident
$500,000/person
Trip Interruption
$2K/person, $10K/trip
Trip Cancellation
$1,500/person, $5K/trip
Flight Delay
$500 after 4 hours
Baggage Delay
$500/person, $1K/trip
Lost or Stolen Baggage
$500/person, $1K/trip
Hotel Burglary Insurance
$1,000
Car Rental Damage & Theft
$65,000 up to 48 days

Benefits

Details

Airport Lounge - Dragon Pass
4 complimentary visits
Discount
Up to 7% discount on Booking.com prepaid hotel or property rental bookings
Discount
20% off admission to Cirque du Soleil shows touring Canada, and 15% off resident shows in Las Vegas
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-Car
Discount
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, free.

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.

For a slightly higher fee and a higher annual income, travellers can also opt for the BMO Ascend World Elite Mastercard. With this card, collect points on every dollar spent on eligible travel, plus decent points on eligible dining, recurring bill payments, and entertainment purchases – giving a little more value to categories that might complement your travel habits, plus a few more redemption options.

There are 14 insurance types included on this card, including trip interruption and cancellation insurance, plus car rental personal effects, and personal effects coverage.

Regarding benefits, unlike other cards in this category, the BMO Ascend World Elite Mastercard offers the airport lounge Dragon Pass with some complimentary visits.

Ultimately, if you want to earn the most points on travel, but still receive solid rewards on categories like dining, recurring bills, and entertainment, the BMO Ascend World Elite Mastercard could be a good choice for you.

3.6

on National Bank's website

Welcome Bonus

Up to 35,000 points

Rewards Rate

1x - 5x points

Points

Annual Fee

$150

Interest Rates

20.99% / 22.49%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

BMO AIR MILES® World Elite®* Mastercard®*

Our Take

The National Bank World Elite Mastercard is a strong choice for frequent travelers who value rewards and comprehensive insurance coverage. With a generous earn rate on everyday spending categories like groceries and restaurants, it offers substantial value, especially if you redeem points for travel. The $150 annual travel credit effectively offsets the card's $150 annual fee, making this card almost "fee-free" if fully utilized. Additionally, the card’s airport lounge access, superior purchase protection, and extended warranties make it a great companion for those who prioritize convenience and peace of mind during their travels.

Pros & Cons

Pros

High Earn Rates: Earn up to 5 points per $1 spent on groceries and restaurants, and 2 points per $1 on gas, recurring bills, and travel booked through National Bank’s À La Carte Rewards.
Annual $150 Travel Credit: Get reimbursed for common travel expenses such as checked bag fees, airport parking, and seat selection.
Comprehensive Insurance: Includes 10 types of insurance, making it one of the most robust insurance packages for travel and purchase protection.

Cons

High Income Requirements: Requires a personal income of $80,000 or a household income of $150,000, limiting eligibility for some.

Card Details

Rewards

5x points per $1 spent on eligible grocery and restaurant purchases
2x points per $1 spent on eligible gas, electric vehicle charging, recurring bills, and travel booked through À La Carte Rewards
1x point per $1 spent on all other purchases

Insurance

Coverage

Purchase Protection
180 days
Extended Warranty
Up to 2 years
Emergency Medical Term
60 days
Emergency Medical (65+)
15 days
Trip Interruption
$5,000
Trip Cancellation
$2,500
Baggage Delay
$500
Flight Delay
$500
Lost or Stolen Baggage
$1,000
Car Rental Damage & Theft
yes
Mobile Device Insurance
$1,000

Benefits

Details

Airport Lounge - National Bank
Unlimited access to the National Bank Lounge at Montréal-Trudeau Airport
Travel Credit
$150 refund per year on travel expenses (seat selection, airport parking, baggage fees, airline ticket upgrades and lounges)
Extra points
2 points on À La Carte Rewards

Eligibility

Credit Score
Very Good
Annual Income
$80,000 personal or $150,000 household

For the same annual fee (but it's not waived in the first year) and the same income requirements as the BMO Ascend World Elite Mastercard, you can opt for the National Bank World Elite Mastercard.

With this card you'll get the most points per dollar spent on eligible grocery and restaurant purchases, plus decent points per dollar spent on purchases like travel booked through À La Carte Rewards. That said, compared to the BMO Ascend World Elite Mastercard, this category is bit lower in terms of travel rewards. As for coverage, the National Bank World Elite Mastercard offers similar categories to the BMO Ascend World Elite Mastercard, some with even higher value. While the BMO Ascend World Elite Mastercard ultimately has more coverage categories, the National Bank World Elite Mastercard differs by offering both mobile device insurance and emergency medical over 65.

The benefits for the National Bank World Elite Mastercard are also a bit more sparse compared to the BMO Ascend World Elite Mastercard, but with an annual travel credit, airport lounge access, and extra points on À La Carte Rewards, there's still plenty to boast about.

Considering there's no welcome bonus like there is for the BMO Ascend World Elite Mastercard, the first year value isn't as substantial, but the overall annual value actually beats that of the BMO Ascend World Elite Mastercard.

Overall, eligible travellers who want to put an emphasis on everyday spending on restaurants and groceries might choose this card over the BMO Ascend World Elite Mastercard.

Our choice for: Premium AIR MILES Card

3.7

on BMO's website

$125 Cash Rebate From FinlyWealth + Up to 7,000 AIR MILES Bonus Miles*

Welcome Bonus

Up to 7,000 AIR MILES Bonus Miles*

Rewards Rate

1x - 3x Miles

Points

Annual Fee

$120 $0

Interest Rates

21.99% / 23.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

WestJet RBC World Elite Mastercard

Our Take

The BMO Air Miles World Elite Mastercard is ideal for frequent Air Miles collectors looking for premium travel benefits and a strong rewards rate. With up to 2,000 bonus miles, a 25% annual flight discount, and automatic Onyx status, this card offers substantial value for those who frequently shop at Air Miles partners and travel often. Its comprehensive insurance coverage and first-year fee waiver also add to its appeal, though the high income requirement may limit its accessibility.

Pros & Cons

Pros

Increased rewards: Earn 1 mile per $12 spent, tripled when shopping at participating Air Miles partners and doubled at eligible grocery, liquor, and wholesale stores.
Travel perks: Includes a 25% discount on one Air Miles reward flight booking per year.
Air Miles Onyx status: Automatic Air Miles Onyx status with exclusive benefits.
Comprehensive insurance: 14 types of insurance coverage, including travel, trip cancellation, and rental car insurance.
First-year fee waived: Try the card for free in the first year.

Cons

High income requirements: Requires $80,000 personal or $150,000 household income, making it inaccessible for many.
Lower rewards compared to other premium cards: While it offers good Air Miles rewards, other cards may provide more flexible or higher rewards.

Card Details

Rewards

3x Miles points per $12 spent at participating AIR MILES Partners
2x Miles points per $12 spent on eligible grocery, liquor and wholesale store purchases
1x Mile point per $12 spent on all other eligible purchases

Insurance

Coverage

Purchase Protection
90 days
Extended Warranty
double up to 1 year
Trip Cancellation
$1.5K/person, $5K/trip
Trip Interruption
$1.5K/person, $10K/trip
Emergency Medical Term
$5M up 15 days/person
Travel Accident
$500,000/person
Flight Delay
$500
Baggage Delay
$500/person, $1K/trip
Lost or Stolen Baggage
$500/person, $1K/trip
Hotel Burglary Insurance
$1,000
Car Rental Damage & Theft
$65,000 up to 48 days

Benefits

Details

Airport Lounge - Dragon Pass
Pass only - complimentary visits not included
Discount
Up to 7 cents off per litre on Shell® fuel if you are an AirMiles collector
Car Rental Discount
20% off base rate of participating National Car Rental and Alamo Rent a Car and up to 5% on Enterprise Rent-A-Car
Discount
Save up to 7% on your Booking.com prepaid hotel or property rental bookings
Discount
Annual 25% discount on one worldwide AIR MILES flight redemption
Status lift
Automatic Air Miles Onyx status

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.

Ideal for Air-Miles-enthusiasts, the BMO Air Miles World Elite Mastercard offers impressive points on participating Air Miles Partners purchases, plus generous points on eligible grocery, liquor and wholesale store purchases.

Like the BMO Ascend World Elite Mastercard, there are 14 types of insurance coverage featured on this card, including trip interruption and trip cancellation, plus car rental personal effects coverage.

The benefits list is quite extensive as well, with the familiar airport lounge Dragon Pass, Booking.com savings, and an automatic Air Miles Onyx status upgrade.

While you will need a high annual income to qualify, the welcome bonus and waived first year fee make for an outstanding first year value.

So, if you collect Air Miles, want stacked insurance coverage, enticing benefits, plus a hefty first year value, your search stops here.

2.8

Welcome Bonus

Get up to 45,000 WestJet points

Rewards Rate

1.5x - 2x Points

Points

Annual Fee

$119

Interest Rates

20.99% / 22.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Rogers Red World Elite® Mastercard®

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 Medical Term
15 days
Emergency Medical (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

^*1To benefit from this offer, your application must be received and approved by Royal Bank of Canada (“Royal Bank”) between July 9 and October 21, 2025 (“Offer Period”). This offer only applies to new applications for a WestJet RBC World Elite Mastercard. You will receive 25,000 welcome WestJet points upon your first purchase (“Welcome WestJet Points”). The Welcome WestJet Points will appear on your monthly credit card statement and in your WestJet Rewards account, accessible at westjet.com/account, up to six (6) weeks after your first purchase transaction date, provided that your WestJet RBC World Elite Mastercard credit card account (“Credit Card Account”) remains open and in good standing at that time, “good standing” meaning that your Credit Card Account must not be past due for more than two (2) consecutive Credit Card Account statement periods, closed, charged off or in credit revoked status at that time. To receive the additional 20,000 WestJet points (“Additional WestJet Points”), (i) a total of $5,000 (“Qualifying Transaction Amount”) or more in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) must be posted to your Credit Card Account within the first three (3) months of your Credit Card Account opening date (“Period”), and (ii) your Credit Card Account must remain open and in good standing at the time the Additional WestJet Points are awarded to your WestJet Rewards account, approximately six (6) weeks after the date you reach the Qualifying Transaction Amount. Qualifying Transactions exclude cash advances (including balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges and fees, and credits for returns and adjustments posted to your Credit Card Account during the Period will reduce the amount of your Qualifying Transactions. The transaction posting date of each Qualifying Transaction, not the transaction date, will determine whether the transaction will count towards the Qualifying Transaction Amount. This means that Qualifying Transactions that take place prior to the last day of the Period will not count towards the Qualifying Transaction Amount if they have not yet been posted or processed by the merchant, the payment network (Mastercard) or Royal Bank by the last day of the Period. Only the primary cardholder on the Credit Card Account is eligible for this offer. Additional cardholders(s) (co-applicant and authorized user(s)), as well as existing cardholders on any RBC Royal Bank personal credit card account, transferring to a WestJet RBC World Elite Mastercard during the Offer Period, are not eligible for this offer. If you close your Credit Card Account or change it for another type of RBC Royal Bank credit card before the Welcome WestJet Points or the Additional WestJet Points have been awarded to your WestJet Rewards account, you may not receive the points. This offer may not be combined or used in conjunction with any other offer. Royal Bank and WestJet reserve the right to modify, cancel or withdraw this offer at any time without notice, even after your application has been approved, including if we suspect that you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by us in our sole discretion.  Check here for full details and current product information.

If you’re more of a WestJet fan, the WestJet RBC World Elite Mastercard is equipped with solid cashback in WestJet dollars for WestJet flights or WestJet Vacations packages. All other purchases get a decent cashback base rate as well.

Expect commendable coverage, including emergency medical over 65, trip interruption insurance (although its missing trip cancellation insurance), and flight and baggage delay.

Its benefits list features the airport lounge Dragon Pass, a status lift, and discounts on base fares with WestJet dollars. One of the most notable perks though is its companion voucher, which allows you to book a full fare followed by a companion fare at a lower price, redeemable at your choice of destination from the available options. The other top benefit allows you to check your first bag for free, which is applicable to the card holder and up to 8 guests.

Since the card is so focused on the WestJet airline though, you might want to consider pairing it with another card for your everyday spending. But, if you meet the income requirements, you’re in for a great first year value (almost as good as the BMO Air Miles World Elite Mastercard).

Therefore, if you're a frequent traveller with WestJet, this might be the best card to get (at least as a travel supplement to your current credit card).

Our choice for: Flat cash back rate with some travel perks

4.8

Welcome Bonus

N/A

Rewards Rate

1.5% - 3%

Cash Back

Annual Fee

Interest Rates

20.99% - 25.99%* / 22.99% - 27.99%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

MBNA Rewards Platinum Plus Mastercard®

Our Take

Pros & Cons

Pros

Voted the Best No Annual Fee Cash Back Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, Comwave or Fido services, potentially increasing your rewards.
The Roam Like Home benefit is a benefit unique only to this card through an eligible Rogers mobile plan.
It is accepted at nearly all locations as it's a Mastercard.

Cons

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.

Card Details

Rewards

Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.^{^}
Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave or Shaw.^{^}
Otherwise earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.^{^}
Get 1.5 times more cash back every time you redeem for Rogers, Fido, Comwave or Shaw purchases.^{^}
5 Roam Like Home days at no cost with an eligible Rogers mobile plan every year (up to $90 value).^{^}

Insurance

Coverage

Emergency Medical Term
Up to 10 days
Emergency Medical (65+)
Up to 3 days
Trip Cancellation
$1,000/person, $5,000 maximum
Trip Interruption
$1,000/person, $5,000 maximum
Car Rental Damage & Theft
31 days, $65,000 car MSRP
Purchase Protection
90 days
Extended Warranty
1 year

Benefits

Details

Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
No Cost roaming
5 days with eligible Rogers mobile plan

Eligibility

Credit Score
Good
Annual Income
$80,000 personal or $150,000 household

Back from our cashback category, the Rogers Red World Elite Mastercard is worth a mention for travellers who prefer to pay no annual fee, have decent travel coverage (notably trip interruption and trip cancellation insurance), and still earn good cashback rates especially when signed up for at least one eligible Rogers, Fido or Shaw service. Plus, with high-earn rates on U.S purchases, the card is great for those who like to make shorter trips across the border.

All in all, this card is best for budget-friendly Fido, Rogers or Shaw customers who don’t travel too far, but appreciate some travel insurance and benefits, and competitive cashback rates for no annual fee.

Best Mastercard Credit Cards For No Annual Fee

The first thing some applicants look for in a credit card is no annual fee. If you find yourself in this situation, here’s a few of the best no-fee cards to consider (one of which you might recognize):

3.4

on MBNA's website

Welcome Bonus

Up to 10,000 bonus points†† + 4x points on restaurant, grocery, digital media, membership and household utility purchases††

Rewards Rate

1x - 4x Points

Points

Annual Fee

Interest Rates

19.99%* / 24.99%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Rogers Red World Elite® Mastercard®

Our Take

The MBNA Rewards Platinum Plus MasterCard is a solid no-annual-fee card choice with high returns on restaurant and grocery purchases, which are the most common spending categories for most people. Additionally, it offers one of the highest signup bonuses for a no-annual-fee card. However, there are two main considerations before choosing this card. If you are open to a card with an annual fee, many other cards offer better rewards. Furthermore, the points earned need to be used for travel to fully benefit from this card; otherwise, if you are not planning to use the points for travel, you are better off with a cashback or another type of card.

Pros & Cons

Pros

One of the best no-annual-fee credit cards in Canada, both in terms of rewards and signup bonus.
Both restaurants and groceries, two of the most commonly spent categories, earn decent rewards.
Great annual birthday bonus with up to $100 in value.

Cons

Points must be used for travel otherwise the points won't have much value
There are better alternative cards both for cashback and paid cards that have higher reward rates

Card Details

Rewards

Earn 4 points^†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days (these earn rates apply until $10,000 is spent annually in the applicable category)
2 points^‡ for every $1 spent on restaurant, grocery, digital media, membership and household utility purchases (these earn rates apply until $10,000 is spent annually in the applicable category)
1 point^‡ for every $1 spent on all other eligible purchases
Each year, you will receive Birthday Bonus Points^‡ equal to 10% of the total number of Points earned in the 12 months before the month of your birthday, to a maximum Birthday Bonus each year of 10,000 Points

Insurance

Coverage

Mobile Device Insurance
$1000
Purchase Protection
Up to 90 days
Extended Warranty
Up to a year

Benefits

Details

Annual Birthday Bonus
10% of the Points earned the 12 months prior to the primary cardholder's birthday month (up to a max 10,000 bonus points per year)
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally

Eligibility

Credit Score
Good
Annual Income
N/A

^*‡, ††, ✪, ***, Terms and Conditions apply. This offer is not available for residents of Quebec. Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button. The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank. Check here for full details and current product information.

The MBNA Rewards Platinum Plus Mastercard comes with no annual cost, and no income requirements, but it's recommended that you have a “good” credit score when applying.

The welcome bonus adds to a nice first year value, which is also made up of points you can accumulate from restaurant and grocery purchases. Plus, every year, you can expect a birthday bonus which adds to a decent annual value overall. With all these perks in mind, it’s no wonder that this Mastercard is considered to be one of the best no-annual fee credit cards in Canada.

The catch is that you will get the most use of your points if you redeem them towards travel. So, the ideal candidate for this card would be an everyday spender who likes to be cautious of cost, and redeem points towards travel. Unfortunately though, there isn’t any travel insurance to complement the high travel redemption value, but there is a rental car benefit available if that seems helpful to you.

Our choice for: Flat cash back rate with some travel perks

4.8

Welcome Bonus

N/A

Rewards Rate

1.5% - 3%

Cash Back

Annual Fee

Interest Rates

20.99% - 25.99%* / 22.99% - 27.99%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Our Take

Pros & Cons

Pros

Voted the Best No Annual Fee Cash Back Card in Canada by FinlyWealth.
There is no annual fee which is a notable benefit for a card with such high rewards. Most cards with slightly lower reward rates typically include yearly fees.
Many benefits, such as trip cancellation insurance, are only available on credit cards with an annual fee. It is rare to see these benefits on a no-annual-fee card!
Offers the flexibility to redeem cash towards Rogers, Shaw, Comwave or Fido services, potentially increasing your rewards.
The Roam Like Home benefit is a benefit unique only to this card through an eligible Rogers mobile plan.
It is accepted at nearly all locations as it's a Mastercard.

Cons

Harder to qualify due to the high credit score and income requirements.
Out of all possible travel insurances, this card is missing Baggage delay and Hotel Burglary insurance. If these two insurances are essential to someone, this card needs to be paired with another travel card to cover them.

Card Details

Rewards

Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars.^{^}
Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave or Shaw.^{^}
Otherwise earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases.^{^}
Get 1.5 times more cash back every time you redeem for Rogers, Fido, Comwave or Shaw purchases.^{^}
5 Roam Like Home days at no cost with an eligible Rogers mobile plan every year (up to $90 value).^{^}

Insurance

Coverage

Emergency Medical Term
Up to 10 days
Emergency Medical (65+)
Up to 3 days
Trip Cancellation
$1,000/person, $5,000 maximum
Trip Interruption
$1,000/person, $5,000 maximum
Car Rental Damage & Theft
31 days, $65,000 car MSRP
Purchase Protection
90 days
Extended Warranty
1 year

Benefits

Details

Airport Lounge - Dragon Pass
Pass only, complimentary visits not included
No Cost roaming
5 days with eligible Rogers mobile plan

Eligibility

Credit Score
Good
Annual Income
$80,000 personal or $150,000 household

Back for the third and final time on this list is the Rogers Red World Elite Mastercard. You already know that Rogers, Fido and Shaw customers get the best cashback deals with this card. Not to mention, for a no-fee credit card, this card has some exclusive coverage, plus the airport lounge Dragon Pass and no cost roaming.

So, let us remind you that you can get all these perks at no annual cost, making it a top contender for budget-conscious cardholders with eligible Rogers, Fido and Shaw accounts who may also like to travel (specifically to the U.S).

CIBC Costco Mastercard

2.8

on CIBC's website

Welcome Bonus

N/A

Rewards Rate

1% - 3%

Cash Back

Annual Fee

Interest Rates

20.75% / 22.49%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Tangerine World Mastercard

Our Take

The CIBC Costco Mastercard offers one of the highest cashback rates on restaurant purchases in Canada, making it an excellent choice for optimizing rewards in this specific category, especially since it has no annual fees. If you use Costco Gas or shop on Costco Online, there is a decent cashback rate as well. However, for other categories, the cashback rate is average. Notably, you will be better off using other credit cards for warehouse Costco purchases, as you will only earn 1% cashback. If you are looking for no annual fee credit cards only, this is a good card to go for.

Pros & Cons

Pros

Decent reward rate for a no annual fee credit card
One of the highest cashback rates for restaurant purchases in Canada
Has Mobile insurance

Cons

Doesn't come with a lot of benefits
Doesn't earn much on Costco Warehouse purchases!

Card Details

Rewards

3% cash back on Restaurants
3% cash back on Costco Gas stations and 2% cash back on non-Costco Gas up to a combined maximum of $5,000 in spending (max $150 cashback per year)
2% cash back on Costco.ca purchases up to $8,000 in spending (max $160 cashback per year)
1% on everything else

Insurance

Coverage

Mobile Device Insurance
$1000
Purchase Protection
Up to 90 days
Extended Warranty
Up to a year

Eligibility

Credit Score
Very Good
Annual Income
$15,000 personal

For a low annual income and a recommended "good" credit score, you can earn high cashback rates on restaurant purchases (one of the highest in Canada) and Costco Gas, plus good rates on Coscto.ca purchases and general gas. To keep you coming back, your rewards are returned to you as a gift certificate redeemable at Costco warehouses.

You should note that while the card is technically a no-annual-fee credit card, you do need to be Costco member to be a cardholder. This membership comes with its own annual cost.

As you can see, there's limited insurance attached to the card, but the addition of mobile device insurance is always a plus.

In summary, the CIBC Costco Mastercard is best for cardholders who have a Costco membership, and enjoy dining out. While you do get decent rewards for shopping at Costco online, you've probably noticed that there's no special rewards category for shopping in-store at Costco. Since Mastercard is accepted at Canadian Costco warehouses, if you want higher earn rates for shopping in-person, you could always opt for other cards on this list, like the Rogers Red World Elite Mastercard (if you regularly shop at Costco).

4.6

on Tangerine's website

$125 Cash Rebate From FinlyWealth + 10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months

Welcome Bonus

10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months

Rewards Rate

0.5% - 2%

Cash Back

Annual Fee

Interest Rates

20.95%* / 22.95%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

MBNA True Line® Mastercard®

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 (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reoccurring Bill Payments, Home Improvement, Public Transportation and Parking).
Have your cash back Reward deposited in a Tangerine Savings Account and get a third 2% Money-Back Category.
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.

For those who appreciate some flexibility, the Tangerine World Mastercard allows you to change categories based on your spending habits. Pick two categories from the available 10 to earn a solid cashback earn rate, with the addition of a third category choice if you have a Tangerine Savings account.

While there’s no annual fee, you will need a higher annual income and a "good" credit score is recommended to qualify. If you meet this criteria, you’ll also get added mobile device insurance, car rental damage and theft coverage, the airport lounge Dragon Pass, and access to the Boingo Wi-Fi hotspot.

Best Mastercard Credit Card for Low Interest Rates

Our choice for: Balance transfer and interest savings

5.0

on MBNA's website

$100 Cash Rebate From FinlyWealth + 0% rate on balance transfers for 12 months (3% fee and not available in Quebec)†

Welcome Bonus

0% rate on balance transfers for 12 months (3% fee and not available in Quebec)†

Rewards Rate

Annual Fee

Interest Rates

12.99%* / 24.99%*

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Our Take

Even though this card offers no benefits or rewards, the amount you can save on interest is substantial, making it an excellent option for reducing your monthly payments.

Pros & Cons

Pros

Great to reduce monthly interest payments during the promotional period.
Low purchase interest rate for people planning to put some balance on their credit card.

Cons

A flat fee has to be paid on the balance to make the transfer happen.
Not a good card other for purposes other than balance transfer.

Card Details

Rewards

No rewards earned on purchases.
Standard Annual Interest Rates of 12.99% on eligible purchases, 17.99% on balance transfers^✪, and 24.99% on cash advances.
You could get a 0% promotional annual interest rate (“AIR”)^† for 12 months on balance transfers^✪ completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
Use available credit on your credit card to transfer funds right to your chequing account.
Around-the-clock fraud protection.

Benefits

Details

Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally

Eligibility

Credit Score
Good
Annual Income
N/A

^*†, ✪, Terms and Conditions apply. This offer is not available for residents of Quebec. Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button. The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank. Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 3.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group). Important Notice: Effective September 25, 2025: If the Balance Transfer fee is less than $3.50, we will charge a minimum Balance Transfer fee of $3.50. Check here for full details and current product information.

If you’re budget-conscious and looking for low interest rates, the MBNA True Line Mastercard offers an interest-free first year on balance transfers for transfers made in the first few months of membership. Plus, the card comes with a low purchase interest rate. To apply, all that’s recommended is that you have “good” credit.

Since there’s no coverage or added benefits on this card, you’ll only want to get it if your goal is to keep certain interest rates low, specifically purchase interest rates, and balance transfers (especially during the promotional period).

Best Secured Mastercard Credit Card

Our choice for: Guaranteed approval and earning cashback

Neo Secured Mastercard®

Neo Secured Mastercard®

4.5

on Neo Financial's website

Welcome Bonus

N/A

Rewards Rate

1% - 4%

Cash Back

Annual Fee

$60

$5 Paid Monthly

Interest Rates

19.99% - 29.99%□ / 22.99% - 31.99%□

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent