5 Excellent Rewards 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

American Express Cobalt® Card

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.

The MBNA card offers excellent rewards across many different categories and provides strong redemption value for its points. It’s a Mastercard, which means it’s widely accepted, making it the best overall choice for most people.

Best Overall Rewards Credit Card for travellers

Our choice for: Best travel points earning credit card in Canada

4.9

on American Express' website

Welcome Bonus

Up to 15,000 Membership Rewards® points

Rewards Rate

1x - 5x

Points

Annual Fee

$191.88⁕

$15.99 Paid Monthly

⁕ For Quebec, $191.88/year

Interest Rates

21.99%* / 21.99%*

RECOMMENDED CREDIT SCORE

300

Poor

693

Fair

743⁎

Good

790⁎

Very Good

833⁎

Excellent

⁎Estimates based on TransUnion scoring

Neo World Elite® Mastercard®

Our Rating

4.9/5

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.

Awards & Recognition

Best Travel Rewards Credit Card

2026

Pros & Cons

Pros

Impressive optimization
1:1 Aeroplan point transfer
Generous welcome bonus
Flexible high value redemptions
Comprehensive coverage
Highly ranked
Instant decision. No credit impact.

Cons

Limited acceptance
Lacks valuable coverage categories

Card Details

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 Medical Insurance (64 & under)
15 days, up to $5M (if under age 65)
Flight Delay
$500
Baggage Delay
$500
Hotel Burglary Insurance
$500
Lost or Stolen Baggage
$500
Common Carrier Travel Accident Insurance
$250,000
Car Rental Damage & Theft
yes
Mobile Device Insurance
$1,000
Purchase Protection
90 days
Extended Warranty
1 year

Benefits

Details

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 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

^**Terms and conditions apply. If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 29.99%. 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 Cobalt card is great for travelers, as it offers the highest earning rate on rewards in Canada when points are collected or redeemed toward travel and flights.

Best Overall Cashback Rewards 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

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 want the most flexible type of rewards, you can’t go wrong with straightforward cash back. This card takes the top spot for the highest cash-back rate among all cards.

Best Overall Rewards Credit Card with low fees

Our choice for: Everyday spending card with a low fee and high rewards

RBC ION+ Visa

4.5

on RBC's website

Welcome Bonus

Get up to 21,000 Avion points^ - that’s up to $150 of value in gift cards!

Rewards Rate

1x - 3x

Points

Annual Fee

$48

Interest Rates

20.99% / 22.99%□

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

4.5/5

The RBC Ion+ Visa delivers exceptional value for its modest $48 annual fee, offering an impressive 3x Avion points on a comprehensive range of everyday spending categories including groceries, dining, gas, streaming, and transit. What makes this card particularly appealing is its standout mobile device insurance coverage up to $1,000 for two years, plus the fee waiver for students with qualifying RBC accounts. While the card earns Avion Premium points, they can be converted 1:1 to the more valuable Avion Elite points when paired with an eligible RBC Avion card, unlocking premium travel redemptions and airline transfers, making this one of the best low-cost rewards cards available in Canada.

Pros & Cons

Pros

Petro Canada perks
Generous welcome bonus
Solid optimization
Mobile device insurance

Cons

Weaker ION tier
Limited insurance

Card Details

Rewards

Earn 3X Avion points for every $1 spent on groceries, dining, gas, food delivery, rideshare, streaming services and more²
Earn 1X Avion point for every $1 spent on all other qualifying purchases²

Insurance

Coverage

Purchase Protection
90 days
Extended Warranty
Up to a year
Mobile Device Insurance
$1,000

Benefits

Details

Gas Discount
Save 3¢/L instantly at the pump and get 20% more Petro-Points and 20% more Avion points
Extra points
Earn 1 extra Moi point for every $2 spent at participating Moi Rewards stores (minimum purchase required)
Extra points
50 Be Well points for every $1 spent on eligible products at Rexall
Discount
Add your credit card to your DoorDash account and get a 6-month complimentary DashPass subscription

Eligibility

Credit Score
Good
Annual Income
N/A

^*Refer to RBC page for up to date offer terms and conditions. The Website may engage in affiliate marketing, which is done by embedding tracking links into The Website. If you click on a link for an affiliate partnership, a cookie will be placed on your browser to track any sales for purposes of commissions. Check here for full details and current product information.

Some people prefer not to spend a lot on credit card annual fees. If you're looking for a much lower-fee option, the RBC ION+ Visa is the best choice available.

Best Overall Rewards Credit Card with no annual fees

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