Compare Credit Cards in Canada and Find the Best Credit Card for You

Finly offers the most personalized and advanced solution to What credit card is best for me?

We've implemented extensive features in our tool to help you find your best credit cards.

Compare and Find

We've gathered nearly all credit cards in Canada into one place, complete with their details about benefits, insurance options, rewards, and requirements. You can input specific information about yourself to quickly narrow down the best credit cards.

Rewards Calculator

FinlyWealth's Advanced Calculator tool provides a clear estimate of the cashback or points you can earn with each card. Since rewards are often the most significant differentiating factor for many people when choosing a card, we have focused on making this feature as accurate as possible, whether you are seeking the best points-based or cashback credit card.

Credit Cards

Compare Credit Cards

Rewards Calculator Algorithm

You can either estimate rewards by inputting your spending habits manually or creating secure bank connections through our trusted financial partner mx.com and letting Finly analyze your spending in the past year.

Finly factors in all the reward limits and fine prints of every single credit card so you can be sure your results are as accurate as possible.

Note: The bank connections are not perfect, meaning that occasionally the connection may fail. This happens when the MX bank connector is unable to establish the link, which is beyond our control. If this occurs, please feel free to inform us and use the manual method as an alternative.


Your Spending

Modify your spending numbers and click update to get the most accurate reward estimates.

$2,000

Restaurant, Fast Food & Coffee Shop

$

Grocery

$

Recurring Purchases (Bills, Subscriptions, Rent via Chexy)

$

Gas

$

Transportation

$

Entertainment (Movies, Concerts, etc.)

$

Foreign Purchases (Non $CAD)

$

Travel (Flights, Hotels, etc.)

$

Pharmacy

$

Online Shopping

$

Home Improvement (Renovation, Furniture)

$

Purchases at Canadian Tire, Sport Check, Lquipeur, Atmosphere, Party City, SportsRousseau, HockeyExperts, LentrepduHockey

$

Other Purchases Not Specified

$

Linked Credit Cards

Connect your existing credit cards starting with your most used one. After a successful connection, view all Canadian credit cards with their rewards ranked using your true spending habits.


Credit Card Preferences

Cash Back or Points

Annual Fee

Special Rebates


Subscription Bonuses

Select all options which you're currently subscribed to (i.e. account owner). The corresponding card reward values will change based on your selection.

rogers

Primary Rogers, Fido or Shaw service account owner


amazon-prime

Amazon Prime


tangerine

Tangerine Savings Account


Credit & Income Info

Credit Score

Income

Personal

Household




Best Credit Card in Canada


American Express Cobalt® Card

5

Finly Rating

Welcome Bonus*

Up to 15,000 points

First Year Value

$1,255.2

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

Annual Fee*

$155.8

Interest Rates*

21.99% / 21.99%

RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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


  • 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

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*

  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500
  • hourglass timer

    Baggage Delay

    $500
  • burglar

    Hotel Burglary Insurance

    $500
  • lost baggage

    Lost or Stolen Baggage

    $500
  • heart lock

    Travel Accident

    $250,000
  • car insurance

    Car Rental Damage & Theft

    yes
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    Up to 1 year

Benefits*

Details*

  • Amex logo

    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

    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

    Good
  • Annual 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.

When someone asks, "What's the best credit card for me?" the Amex Cobalt is usually the first card that comes to mind. It offers a winning combination of high reward rates, valuable perks, a reasonable annual fee, and flexible point redemption options. Plus, it's easy to qualify for, making it accessible to a wide range of users.


For rewards, the Cobalt card takes the crown for 80% of FinlyWealth users. It consistently outperforms other cards, often by a significant margin. Even when using points for cash back—which isn’t the most valuable way to redeem them—the Cobalt still outpaces most traditional cashback cards in overall returns.


This card doesn’t just excel in rewards; it offers all the essential benefits for everyday purchases and goes above and beyond with its impressive travel perks. It’s a well-rounded card that covers every angle.


Therefore, if you don't have a specific benefit you're looking to maximize or aren't focused on optimizing just one reward category, the Amex Cobalt is likely the best choice for you.


Cashback Credit Cards


Rogers Red World Elite® Mastercard®

I currently have or may soon have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user

Rogers Red World Elite® Mastercard®

4.8

Finly Rating

Welcome Bonus

N/A

First Year Value

$410

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

I currently have or may soon have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user

Annual Fee

$0

Interest Rates

19.99% / 22.99%

RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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


  • Voted the Best Cash Back Card in Canada for Rogers, Fido and Shaw customers by FinlyWealth.
  • Voted the Best No Annual Fee Credit 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 favorable benefits for travelers.
  • 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, or Fido services, potentially increasing your rewards.
  • The roam-like benefit is a benefit unique only to this card.
  • 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.

Rewards

  • 3% cash back on all U.S dollar purchases
  • 2% cash back on all regular purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
  • 1.5% cash back on all purchases if you do not have 1 qualifying service
  • 1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value

Insurance

Coverage

  • travel accident medical

    Emergency Out of province Medical

    $1M, Up to 10 days
  • travel accident medical

    Emergency Medical Over 65

    $1M, Up to 3 days
  • cancel airplane

    Trip Cancellation

    $1,000/person, $5,000 maximum
  • pause

    Trip Interruption

    $1,000/person, $5,000 maximum
  • car insurance

    Car Rental Damage & Theft

    31 days, $65,000 car MSRP
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    1 year

Benefits

Details

  • alcohol cheers

    Airport Lounge - Dragon Pass

    Pass only, complimentary visits not included
  • mobile phone wifi

    No Cost roaming

    5 days

Eligibility

  • Credit Score

    Very Good
  • Annual Income

    $80,000 personal or $150,000 household

Even though the Rogers World Elite card does not have an annual fee, it earns the highest overall cashback rate on all purchases. It also gives tons of benefits which are great for travelers. The big catch is that you have a qualifying Rogers, Shaw or Fido Service and if not then the rewards earned on this card wouldn't be as high. In addition there is an income requirement for this card which not everyone qualifies for. If you have the service but not the income requirement you can go for the Rogers Red Mastercard instead.


SimplyCash™ Preferred Card from American Express

4.6

Finly Rating

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

Interest Rates*

21.99% / 21.99%

RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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


  • 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

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*

  • travel accident medical

    Emergency Out of province Medical

    $5M/insured Person
  • hourglass timer

    Flight Delay

    $500
  • hourglass timer

    Baggage Delay

    $500
  • burglar

    Hotel Burglary Insurance

    $500
  • lost baggage

    Lost or Stolen Baggage

    $500
  • heart lock

    Travel Accident

    $100,000
  • car insurance

    Car Rental Damage & Theft

    $85K up to 48 days
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    1 year

Benefits*

Details*

  • Amex logo

    Amex Experiences™

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

Eligibility*

  • Credit Score

    Good
  • Annual 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.

With massive cashback on groceries and gas, a very high cashback rate on other purchases, and a good coverage of benefits, the SimplyCash Preferred is another alternative cashback card if the Rogers card is not for you or you don't have any qualifying service.


Best Rewards (Points) and Best Flexible Redemption Credit Card


American Express Cobalt® Card

5

Finly Rating

Welcome Bonus*

Up to 15,000 points

First Year Value

$1,255.2

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

Annual Fee*

$155.8

Interest Rates*

21.99% / 21.99%

RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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


  • 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

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*

  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500
  • hourglass timer

    Baggage Delay

    $500
  • burglar

    Hotel Burglary Insurance

    $500
  • lost baggage

    Lost or Stolen Baggage

    $500
  • heart lock

    Travel Accident

    $250,000
  • car insurance

    Car Rental Damage & Theft

    yes
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    Up to 1 year

Benefits*

Details*

  • Amex logo

    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

    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

    Good
  • Annual 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.

Sometimes, you're unsure how you want to use your rewards—you might want the flexibility to convert them into cash, gift cards, or use them for travel. The American Express points that come with this card offer excellent flexibility in how they can be redeemed. Additionally, with the massive rewards earned by the Cobalt card, it stands out as the best option for both point redemption and overall rewards.


Best Signup Bonus Credit Cards


American Express Gold Rewards Card®

4.2

Finly Rating

Welcome Bonus*

Up to 60,000 points

First Year Value

$1,629.03

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

Annual Fee*

$250

Interest Rates*

21.99% / 21.99%

RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.

Pros


  • Flexible Rewards: Enjoy flexible Membership Rewards point conversion with up to 2 points per $1 spent.
  • Travel Perks: Includes $100 annual travel credit and 4 free passes to Plaza Premium lounges in Canada.
  • Comprehensive Insurance: Comes with 11 types of insurance coverage.
  • Multiple Redemption Options: Offers 4 ways to redeem points for maximum value.

Cons


  • High Annual Fee: The card comes with a $250 annual fee.
  • Foreign Transaction Fees: A 2.5% fee applies to foreign transactions.
  • Limited Travel Insurance for Seniors: No travel medical insurance coverage for those over 65.
  • Lower Acceptance: As an American Express card, it may have lower acceptance compared to Visa or Mastercard.

Rewards*

  • 2x points per $1 spent on gas, groceries and drugstore purchases
  • 2x points per $1 spent on travel (eligible flights, hotels, tours and more)
  • 1x point per $1 spent on all other eligible purchases

Insurance*

Coverage*

  • travel accident medical

    Emergency Out of province Medical

    15 days
  • cancel airplane

    Trip Cancellation

    $1,500 per person, $3,000 combined
  • pause

    Trip Interruption

    $1,500 per person, $6,000 combined
  • hourglass timer

    Flight Delay

    $500
  • hourglass timer

    Baggage Delay

    $500
  • burglar

    Hotel Burglary Insurance

    $500
  • lost baggage

    Lost or Stolen Baggage

    $500
  • heart lock

    Travel Accident

    $500,000
  • car insurance

    Car Rental Damage & Theft

    yes
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    Up to 1 year

Benefits*

Details*

  • travel

    Travel Credit

    $100
  • border guard

    Nexus Program Rebate

    $50 statement credit every 4 years
  • alcohol cheers

    Airport Lounge - Priority Pass

    Pass only. No Complimentary visits!
  • alcohol cheers

    Airport Lounge - Plaza Premium

    4 Free complimentary visits
  • hotel

    Complimentary Hotel Benefits

    Hotels booked American Express Travel
  • star fall

    Status lift

    Hertz Gold Plus Rewards® loyalty program
  • Amex logo

    American Express® Experiences

  • reward cup

    Extra points

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

Eligibility*

  • Credit Score

    Good
  • Annual 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.

The American Express Gold Rewards Card currently offers the best signup bonus among all credit cards. With spending requirements that align with the average budget, this is the top choice if you're seeking significant first-year value.


Best No Fee Signup Bonus Credit Card


American Express® Green Card

3.9

Finly Rating

Welcome Bonus*

Up to 10,000 points ($210 value)

First Year Value

$677.86

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

Annual Fee*

$0

Interest Rates*

21.99% / 21.99%

RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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: Earn unlimited rewards with no caps.
  • Flexible Redemption: Transfer points to other loyalty programs for maximum value.
  • VIP Perks: Access a variety of exclusive benefits through Amex Experiences™.
  • Eco-Friendly: The card is made from 99% recycled plastic.

Cons


  • Lower Reward Rates: Earn rates are lower compared to other no-fee cards.
  • Limited Travel Perks: Lacks some of the travel benefits and insurance options provided by other cards.

Rewards*

  • 1x point per $1 spent on all purchases

Insurance*

Coverage*

  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    Up to a year

Benefits*

Details*

  • Amex logo

    Amex Experiences™

    With Amex Experiences™ and Front Of The Line® Amex Presale Tickets, American Express Cardmembers get access to amazing events in Canada
  • reward cup

    Extra points

    2 points on Amex Travel Online purchases

Eligibility*

  • Credit Score

    Good
  • Annual 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.

If you're looking to avoid fees but still want a substantial signup bonus, the Green card is the perfect choice for this situation.


Best Travel Credit Cards


Best Overall Travel Card


Scotiabank Passport® Visa Infinite* Card

4.8

Finly Rating

Welcome Bonus*

Up to 30,000 Scene+ points

First Year Value

$593.9

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

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.

Best Foreign Exchange Credit Card in 2024

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.

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*

  • travel accident medical

    Emergency Out of province Medical

    $2M/insured up to 25 days
  • travel accident medical

    Emergency Medical Over 65

    $2M/insured up to 3 days
  • cancel airplane

    Trip Cancellation

    $1,500/person, $10,000/trip
  • pause

    Trip Interruption

    $2,500/person, $10,000/trip
  • hourglass timer

    Flight Delay

    $500/person after 4 hours
  • lost baggage

    Lost or Stolen Baggage

    $1000
  • hourglass timer

    Baggage Delay

    $1000
  • heart lock

    Travel Accident

    $500,000/insured, $1M combined
  • car insurance

    Car Rental Damage & Theft

    $65,000 up to 48 days
  • burglar

    Hotel Burglary Insurance

    $1,000
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    1 year

Benefits*

Details*

  • exchange money

    No Foreign Transaction Fees

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

    Airport Lounge - Dragon Pass

    6 Free complimentary visits
  • star fall

    Status lift

    Avis® Preferred Plus membership
  • concierge

    Concierge Services

  • exclusive

    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.

If you're looking for a card with strong insurance coverage and travel-related benefits, the Scotia Passport card is the best option that offers all of these!


Best Lounge Access Credit Cards


For Unlimited Lounge Access


American Express Platinum Card®

4.5

Finly Rating

Welcome Bonus*

Up to 140,000 Membership Rewards® points (100,000 in 1st year)

Rewards Rate*

1x - 2x Points

Annual Fee*

$799

Interest Rates*

21.99% - 30% / 21.99% - 30%

RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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


  • 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.

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*

  • travel accident medical

    Emergency Out of province Medical

    15 days
  • cancel airplane

    Trip Cancellation

    $2,500
  • pause

    Trip Interruption

    $2,500
  • hourglass timer

    Flight Delay

    $1,000
  • hourglass timer

    Baggage Delay

    $1,000
  • burglar

    Hotel Burglary Insurance

    $1000
  • lost baggage

    Lost or Stolen Baggage

    $1,000
  • heart lock

    Travel Accident

    $500,000
  • car insurance

    Car Rental Damage & Theft

    Yes
  • purchase protection

    Purchase Protection

    120 days
  • extended warranty

    Extended Warranty

    1 year

Benefits*

Details*

  • alcohol cheers

    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

    Travel Credit

    $200
  • food location

    Dining Credit

    $200 at Select Restaurants
  • border guard

    Nexus Program Rebate

    $100 statement credit every 4 years
  • hotel

    Complimentary Hotel Benefits

    Hotels booked American Express Travel
  • star fall

    Status lift

    Upgrade to Hilton Honors Gold Status
  • star fall

    Status lift

    Upgrade to Marriott BonvoyTM Gold Elite status
  • airport waiting room

    Priority Travel

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

    Concierge Services

  • gavel

    Trip and legal Assistance

  • Amex logo

    American Express® Experiences

  • reward cup

    Extra points

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

Eligibility*

  • Credit Score

    Good
  • Annual 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.

If you are a frequent traveler and go to lounges a lot, the best credit card for you would be the Platinum Card. There is only one credit card in Canada that offers unlimited lounge access, which is the Aeroplan Reserve card. However, that card only covers unlimited lounge access to Maple Leaf Lounges and Air Canada Cafés, which aren't very useful worldwide. On the other hand, the American Express Platinum has much wider coverage, with over 1,400 airports offering lounges that cardholders can use! In addition, you can bring one person in without fee, making it an even better deal for couples!


For Lounge Access with a few complimentary visits

Sometimes you are not willing to spend a huge amount on annual fees and only want to access lounges a few times a year. In these cases here are a few of the best options:


Scotiabank Passport® Visa Infinite* Card

4.8

Finly Rating

Welcome Bonus*

Up to 30,000 Scene+ points

First Year Value

$593.9

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

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.

Best Foreign Exchange Credit Card in 2024

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.

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*

  • travel accident medical

    Emergency Out of province Medical

    $2M/insured up to 25 days
  • travel accident medical

    Emergency Medical Over 65

    $2M/insured up to 3 days
  • cancel airplane

    Trip Cancellation

    $1,500/person, $10,000/trip
  • pause

    Trip Interruption

    $2,500/person, $10,000/trip
  • hourglass timer

    Flight Delay

    $500/person after 4 hours
  • lost baggage

    Lost or Stolen Baggage

    $1000
  • hourglass timer

    Baggage Delay

    $1000
  • heart lock

    Travel Accident

    $500,000/insured, $1M combined
  • car insurance

    Car Rental Damage & Theft

    $65,000 up to 48 days
  • burglar

    Hotel Burglary Insurance

    $1,000
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    1 year

Benefits*

Details*

  • exchange money

    No Foreign Transaction Fees

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

    Airport Lounge - Dragon Pass

    6 Free complimentary visits
  • star fall

    Status lift

    Avis® Preferred Plus membership
  • concierge

    Concierge Services

  • exclusive

    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.

With the many travel perks Scotia Passport offers, one of the best is the generous lounge access benefit, which includes six free visits!


For Lounge Pass


Having a Lounge pass allows you to access lounges for a small fee. Without the pass, you would need to pay for a membership before being able to purchase individual visits.


Tangerine World Mastercard