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Looking to get the best Mastercard in Canada? That's a smart choice because Mastercard is widely accepted in almost all stores and is the only network Costco accepts. In addition, it also has a high international acceptance rate. A good majority of the best credit cards in Canada are from this network, so you will get great perks and rewards with these cards.
Best Overall Mastercard Credit Card
Our choice for: Highest rewards on groceries & dining
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
Both restaurants and groceries, two of the most commonly spent categories, earn the most rewards.
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.
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 Out of province Medical
$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.
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.
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.
Pros
Highest cash back rates in Canada for highest spending categories like Grocery (up to 7%), especially if you keep at least $5k in a Neo everyday account
12 different types of insurance coverage
Airport lounge access with DragonPass with $32 USD per visit
Additional cash back earning at over 10,000 Neo partners
Cons
High income requirements of $80,000 personal or $150,000 household
Cash back spend caps can limit your rewards
Having to keep at least $5k in an everyday account to boost your cash back tier
Rewards
5% cash back on grocery purchases up to $1,000 spending per month (6% cash back if you have $5k in a Neo everyday account, or 7% cash back with $10k in a Neo everyday account) - drops to 1% cash back after hitting spend cap
4% cash back on recurring purchases up to $500 spending per month (4.5% cash back if you have $5k in a Neo everyday account, or 5% cash back with $10k in a Neo everyday account) - drops to 1% cash back after hitting spend cap
3% cash back on EV charging and gas purchases up to $1,000 spending per month (3.5% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to 1% cash back after hitting spend cap
1% cash back on all other purchases with no spending caps
Note: our reward calculations use the base cash back rates assuming you do not hold any money in a Neo everyday account to earn the higher tier (boosted) cash back rates, otherwise the reward estimates may be higher.
Insurance
Coverage
Emergency Out of province Medical
Up to $1,000,000
Trip Cancellation
$1,000
Trip Interruption
$1,000
Flight Delay
$500
Baggage Delay
$1,000
Lost or Stolen Baggage
$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
Benefits
Details
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit
Eligibility
Credit Score
Good
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
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
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.
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.
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.
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.
Easy credit score requirements needed for this card.
Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.
Cons
Insurance coverage is the most basic.
Very low cashback rate on the other categories not selected.
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
Eligibility*
Credit Score
Good
Annual Income
N/A
*11 Balance Transfer Promotional Offer at 1.95% for 6 months (1% Balance Transfer Fee)
A Promotional Rate of 1.95% will apply to any and all Balance Transfers made within 30 days of the Account opening, and will remain in effect for 6 Statement Periods from the date the last such Balance Transfer was posted to the Account (the “Promotional Rate Period”). To take advantage of this Promotional Offer, you must complete the Balance Transfer request within 30 days of Account approval. You must also activate your Card within 45 days of Account approval for the requested Balance Transfer to be processed, or the Balance Transfer will be automatically cancelled. Balance Transfers are treated as Cash Advances on your Card and do not have an interest-free grace period. Balance Transfers may not exceed the available credit on the Account. If the Balance Transfer exceeds the available credit, the Balance Transfer transaction will not be processed. A 1% Balance Transfer Fee will be charged on each Balance Transfer amount and will be immediately charged to your Credit Card. This Balance Transfer Fee is waived by Tangerine if you are a resident of the province of Quebec at the time you accept this offer. Interest does not accrue on the Balance Transfer Fee, however it is included in the Minimum Payment amount on your monthly statement. You must continue to make all of your monthly Minimum Payments by the Payment Due Dates shown on your monthly statements. If you still have an amount owing from your Balance Transfer when the Promotional Rate Period ends, the Cash Advance interest rate of 22.95% will apply to that amount. You must continue to make the Minimum Payments on your Account, regardless of whether the Balance Transfer has been processed to your Account. We don’t charge interest on new Purchases that appear on your statement for the first time if we receive full payment of the Balance on your statement (including payment of any Balance Transfers included in that Balance), by the Payment Due Date on your statement. This means you will pay interest on new purchases that appear on your statement for the first time unless we receive payment of your entire balance each month by the payment due date. For example, if you do a promotional (or non-promotional) balance transfer for $7,000 and spend $500 in new purchases during the same statement cycle, we must receive payment of the entire balance of $7,500 on or before your payment due date to avoid paying interest on your new purchases that month of $500. Balance Transfers may not be used to transfer money to or from another Tangerine Account. See the Tangerine Credit Card Cardholder Agreement for more information about how we apply payments to your Account. 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.
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
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
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 Out of province Medical
$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.
If you want to go for a credit card from a big financial institution that also has physical locations, this BMO card is your best bet. With great reward rates on groceries, you will be able to get decent rewards. It also comes with one of the most comprehensive lists of insurances, especially Roadside Assistance, which can help you if you get stuck on the road!
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