Best Mastercard Credit Cards of 2026

on MBNA's website

Welcome Bonus

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

Rewards Rate

1x - 5x

Points

Annual Fee

$120

Interest Rates

21.99% / 22.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

Neo World Elite® Mastercard®

Our Rating

5/5

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.

Awards & Recognition

Best Rewards Credit Card

2026

Pros & Cons

Pros

High grocery optimization
High dining optimization
Annual birthday bonus
Solid travel insurance
Rare price protection
Good redemption values

Cons

Missing key insurance categories
Low gas optimization
Annual fee
High income requirements

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
$1,000
Purchase Protection
90 days
Extended Warranty
1 year
Car Rental Damage & Theft
31 days
Flight Delay
$500/person after 4 hours
Common Carrier Travel Accident Insurance
$1,000,000
Travel Medical Insurance (64 & under)
$2M for 21 days
Lost or Stolen Baggage
$1,000/person
Baggage Delay
$1,000/person
Price Protection
$500/item, $1,000/account per 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 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

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.

This card is not only awarded the best overall Mastercard, but it's also one of the best credit cards across Canada. It offers massive rewards on groceries and restaurant purchases (up to 5% cashback equivalent), a 10% birthday reward on top of all your accumulated rewards, and is one of the only cards with price protection benefits (for some items, if you purchase and the price goes down, you can get compensated for the difference). With a comprehensive list of insurances, the annual fee of this card is more than offset by the great rewards it provides.

Best Cashback Mastercard Credit Card

Our choice for: High cash back on groceries & gas

4.6

on Neo Financial's website

Welcome Bonus

N/A

Rewards Rate

1% - 5%

Cash Back

Annual Fee

$125

Interest Rates

19.99% - 26.99%□ / 22.99% - 28.99%

RECOMMENDED CREDIT SCORE

300

Poor

560⁎

Fair

660⁎

Good

725⁎

Very Good

760⁎

Excellent

⁎Estimates based on Equifax scoring

MBNA True Line® Mastercard®

Our Rating

4.6/5

This card offers some of the highest cash back rates in Canada for gas, groceries, and recurring purchases, 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, if you're the average person whose spending is generally below $12k per year in groceries, $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.

Awards & Recognition

Best Cash Back Credit Card

2026

Pros & Cons

Pros

High cashback rates
Premium insurance coverage
Airport lounge membership
Boosted partner cashback
Instant approval and access

Cons

High income requirements
Spending caps
Annual fee

Card Details

Rewards

5% cash back on grocery purchases up to $1,000 spending per month
4% cash back on recurring purchases up to $500 spending per month
3% cash back on gas purchases up to $1,000 spending per month
1% cash back on all other purchases with no spending caps
Up to 15% cash back at over 10,000 Neo Partners

Insurance

Coverage

Travel Medical Insurance (64 & under)
Up to $1,000,000
Trip Cancellation
$1,000
Trip Interruption
$1,000
Flight Delay
$500
Baggage Delay
$1,000
Hotel Burglary Insurance
$1,000
Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent Child
Car Rental Damage & Theft
Yes
Car Rental Personal Effects
$1,000
Purchase Protection
90 days
Extended Warranty
1 year
Lost or Stolen Baggage
$1,000

Benefits

Details

Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit

Eligibility

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

If you prefer to go for cashback instead of points for simplicity, then the Neo World Elite Mastercard is a great choice. It offers big rewards on groceries, gas, and recurring purchases, topped with additional cashback when purchasing at Neo partnered stores, which include thousands of stores across Canada with big brands. With a comprehensive list of insurances, this is the best cashback card you can choose.

Best Balance Transfer Mastercard Credit Card which comes with No annual fee

Our choice for: Balance transfer and interest savings

5.0

on MBNA's website

Welcome Bonus

0% rate on balance transfers for 12 months (3% fee applies). Not available for residents of 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

⁎Estimates based on Equifax scoring

Tangerine Money-Back Mastercard

Our Rating

5/5

Voted the Best Balance Transfer Credit Card by FinlyWealth, the MBNA True Line offers a 0 percent introductory balance transfer rate, a feature that very few credit cards in Canada provide, along with a very competitive transfer fee. Beyond the promotional period, it continues to stand out with one of the lowest ongoing purchase interest rates in Canada. With no annual fee, this card is an excellent choice for Canadians looking to reduce interest costs.

Awards & Recognition

Best Balance Transfer Credit Card

2026

Pros & Cons

Pros

No annual fee
Balance transfer intro offer
Low purchase interest rates
Credit transfers
Fraud protection
Car rental discounts

Cons

Flat transfer fee
No rewards

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.

The MBNA True Line Mastercard stands out in the Canadian market by offering an unmatched 0% promotional interest rate (with an initial transfer fee) on balance transfers for a full 12 months.

Best No Annual Fee Mastercard Credit Card

4.4

on Tangerine's website

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

⁎Estimates based on Equifax scoring

BMO CashBack® World Elite® Mastercard®

Our Rating

4.4/5

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.

Awards & Recognition

Best Starter Credit Card

2026

Pros & Cons

Pros

Customizable cashback
Unique categories available
High recurring transaction optimization
High pharmacy purchase optimization
Bonus category available
No annual fee

Cons

Basic insurance
Low base earn rate

Card Details

Rewards

2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match your spending habits.
Have your Money-Back Rewards deposited into 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

Eligibility

Credit Score
Fair
Annual Income
$12,000 personal

^*Tangerine is not responsible for maintaining accuracy of content on this site. Please refer to Tangerine's site for the latest product details. Check here for full details and current product information.

If you don't want to pay a fee but also want to get decent rewards, the Tangerine card is a very good starter card. With flexible rewards on the categories you spend the most on, this would be a great place to start.

Best Big Bank Mastercard Credit Card

4.1

on BMO's website

Welcome Bonus

Get up to $650 in value

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

⁎Estimates based on Equifax scoring