Credit Card Reviews by FinlyWealth’s Experts

Neo World Elite® Mastercard® Review

by FinlyWealth Team

This card offers one of the highest cash back rates in Canada for gas (up to 4%), grocery (up to 7%) and recurring purchases (up to 5%) which is pretty hard to beat. While the cash back rates are very high, you need to mind the spend caps set for each category to see if your earning potential is really that high compared to most other credit cards. However, for a typical person who's spending is generally below $12k per year in grocery, $6k per year in recurring bills and $12k per year in gas then you'll be doing pretty well, especially with the great insurance and benefit offers as outlined in our neo world elite mastercard review below.

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Rogers Red World Elite® Mastercard® Review

by Sara Skodak

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!

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SimplyCash™ Preferred Card from American Express Review

by FinlyWealth Team

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.

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Tangerine Money-Back Credit Card Review

by FinlyWealth Team

While we think Tangerine 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. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.

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Scotiabank Passport® Visa Infinite* Card Review

by FinlyWealth Team

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.

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American Express Cobalt® Card Review

by Sara Skodak

This card was voted one of 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 amex cobalt bonus 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.

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American Express Platinum Card® Review

by FinlyWealth Team

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.

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BMO VIPorter World Elite®* Mastercard®* Review: Earn Points to Fly on the Most Comfortable Economy Flights

by Sara Skodak

This is easily the best credit card in Canada for frequent Porter airline (and its partners) travelers. Earning 2x VIPorter points on common everyday purchases like groceries, dining and transportation is a massive benefit, allowing you to rack up points really fast and enjoy travel via Porter and it's airline partners. The premium benefits of this card make your travels smooth as you get priority security screening, early boarding and priority re-accommodation for flight delays, one complimentary checked bag, a carry-on bag with every fare type (including Basic), and complimentary PorterClassic seat selection.

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BMO VIPorter World Elite®* Mastercard®* Review: Earn Points to Fly on the Most Comfortable Economy Flights

by Sara Skodak

This is easily the best credit card in Canada for frequent Porter airline (and its partners) travelers. Earning 2x VIPorter points on common everyday purchases like groceries, dining and transportation is a massive benefit, allowing you to rack up points really fast and enjoy travel via Porter and it's airline partners. The premium benefits of this card make your travels smooth as you get priority security screening, early boarding and priority re-accommodation for flight delays, one complimentary checked bag, a carry-on bag with every fare type (including Basic), and complimentary PorterClassic seat selection.

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American Express® Aeroplan®* Reserve Card Review

by FinlyWealth Team

If you are a frequent Air Canada traveler, having an Aeroplan card for perks like free checked bags and priority service can be very beneficial. Many financial institutions offer Aeroplan cards, but I don't believe the American Express version is the best one. Opting for another option might be better. However, the Amex card does have a very large sign-up bonus, making it a great choice for those specifically seeking that.

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Neo Cathay World Elite® Mastercard® Review

by FinlyWealth Team

The Cathay World Elite Mastercard is a top choice for frequent travelers to Asia, offering up to 60,000 bonus Asia Miles, high earn rates at Neo retail partners, and exclusive Cathay Pacific benefits like priority check-in and lounge access. With 12 types of insurance coverage, airport lounge access through DragonPass, and the ability to earn up to 15 miles per dollar spent at select partners, this card provides substantial value for those who regularly fly with Cathay Pacific and its partners. However, the card does require a higher income and comes with a $180 annual fee.

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CIBC Aeroplan® Visa Infinite* Card Review

by FinlyWealth Team

The CIBC Aeroplan Visa Infinite Card is great for Air Canada travelers who want to rack up Aeroplan points and enjoy perks like free checked bags and preferred pricing on flight redemptions. With solid reward rates in key spending categories like gas, groceries, and Air Canada purchases, this card offers decent returns. Additionally, the first-year annual fee waiver and comprehensive travel insurance make it a solid option for those looking for value without the upfront cost. However, its highest value is for people who frequently travel with Air Canada and make use of Aeroplan rewards, especially for flights.

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Neo World Elite® Mastercard® Secured Review

by FinlyWealth Team

This secured card offers the highest cash back rates in Canada for gas (up to 4%), grocery (up to 7%) and recurring purchases (up to 5%) which is pretty hard to beat. While the cash back rates are very high, you need to mind the spend caps set for each category to see if your earning potential is really that high compared to most other credit cards. However, for a typical person who's spending is generally below $12k per year in grocery, $6k per year in recurring bills and $12k per year in gas then you'll be doing pretty well, especially with the great insurance and benefit offers.

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Neo World Mastercard® Secured Review

by FinlyWealth Team

Most secured cards give you very low to no rewards for using your card as you build your score over time. This card however offers balanced rewards for everyday purchases and with the cash back boost of up to 4% on groceries, it can easily beat most other no fee cash back credit cards as long as you're willing to keep 10k in a Neo everyday account. This is a fantastic card to help build your score while you also get to earn a high cash back rate.

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Neo Secured Mastercard® Review

by FinlyWealth Team

If you have a poor credit score and are looking to rebuild it with a secured card, then the Neo Financial Secured Credit Card is the best card to go for. This card offers so much more compared to other secured credit cards on the market, including no monthly fees, a low deposit amount needed to get started, and it is the only credit card that offers some rewards on your purchases!

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Capital One Guaranteed Secured Mastercard® Review

by FinlyWealth Team

Secured cards typically come with no rewards or benefits, even the ones with annual fees. This card has broken the norm and provides many great benefits to secured cardholders without any fees. So, if you are looking to get benefits with a secured card, this card is your best choice. The Capital One Guaranteed Secured Mastercard stands out as one of the better secured credit cards for building credit, particularly for those with limited or poor credit history. The card's biggest strength is its accessibility combined with genuine credit-building features at no annual cost, requiring only a $49-$200 refundable security deposit. What makes this card particularly valuable is Capital One's track record of automatically reviewing accounts for upgrades and credit increases after just six months, plus the "guaranteed" approval aspect that removes application uncertainty. However, this isn't a card for earning rewards or maximizing benefits - it's purely a credit-building tool with a high APR that makes it unsuitable for carrying balances.

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Students – BMO CashBack® Mastercard®* Review

by FinlyWealth Team

We consider this card to be the best student credit card in Canada for it's competitive cashback rewards (3% on groceries, 1% on recurring bills), no annual fee and a generous welcome bonus. Plus, cashback redemption is flexible so no need to wait a year each time you want to get your cashback paid out.

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Neo Secured Mastercard® Review

by FinlyWealth Team

If you have a poor credit score and are looking to rebuild it with a secured card, then the Neo Financial Secured Credit Card is the best card to go for. This card offers so much more compared to other secured credit cards on the market, including no monthly fees, a low deposit amount needed to get started, and it is the only credit card that offers some rewards on your purchases!

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Tangerine Money-Back Credit Card Review

by FinlyWealth Team

While we think Tangerine 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. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.

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Scotiabank® Scene+ Visa Card Review

by FinlyWealth Team

We like this card because it offers solid rewards with no annual fee, including the opportunity to earn up to 5,000 bonus Scene+ points within the first 3 months. With 2x Scene+ points on purchases at popular grocery stores, home improvement retailers, and Cineplex, plus 1x points on all other purchases, it's a great option for maximizing everyday spending.

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MBNA True Line® Mastercard® Review

by FinlyWealth Team

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.

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Scotiabank Value® Visa* Card Review

by FinlyWealth Team

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

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BMO Preferred Rate Mastercard® Review

by FinlyWealth Team

If you plan to carry a balance on your credit card, this card offers a very low interest rate. However, there are other cards with no annual fee and slightly lower interest rates that you might want to consider as well.

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BMO CashBack® Mastercard® Review

by FinlyWealth Team

This is a great basic cashback credit card for those that prefer no annual fees while getting one of the highest cashback rates on groceries. You also have the additional benefit of redeeming cashback at any point without needing to wait.

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American Express Business Platinum Card® Review

by FinlyWealth Team

The Business Platinum Card® from American Express is ideal for frequent business travelers who can take full advantage of the premium perks and extensive insurance coverage. Despite the high annual fee, the generous rewards and travel benefits may offset the cost for those who maximize the card's offerings.

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American Express® Business Gold Rewards Card Review

by FinlyWealth Team

The American Express® Business Gold Rewards Card is an excellent choice for business owners who also travel 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.

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Marriott Bonvoy® Business American Express® Card Review

by FinlyWealth Team

The Marriott Bonvoy® Business American Express® Card offers strong rewards, especially for frequent travelers who stay at Marriott properties, with the ability to earn 5 points per $1 spent and a generous welcome bonus. Additionally, the annual free night certificate and automatic Silver Elite status add value for business owners. However, the $150 annual fee and the lower acceptance rate of American Express might be drawbacks for some users, particularly those who don't travel frequently or prefer more widely accepted cards.

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