Rewards Canada is known for starting the top credit card ranking trend in Canada when we launched our first Top Travel Rewards Credit Card rankings in 2009. Since that time we continued with annual travel card rankings and added in cash back rankings. Now we have one more ranking - the best cards in Canada for different types of categories. Unlike our other rankings where we list first to fifth place, this feature only displays the top card for each type of credit card category.
From best overall to best low interest to best hotel card and many others in between, you'll find the best of each here. With nearly 20 years of research, experience in the loyalty and credit card space you can count on Rewards Canada to give you the most un-biased straight forward rankings. Unlike other websites and blogs we don't just cover cards we earn commissions on - we take them all into account as we have done since our inception in 2001. Do some cards earn us a commission? Yes! Do all of them? No. They all get equal consideration.
Also be sure to check out our Top Travel Rewards Credit Card Rankings and Top Cash Back Credit Card Rankings
Quick jump to each of the categories on this page:
The best overall card in Canada is the American Express Cobalt Card and it has been since it was launched late in 2017. Since that time it has been ranked as our number one overall travel rewards card and it is the second best cash back card in Canada. That's why we rank it the best overall card in Canada. It broke records when it was launched in 2017 by offering 5x points on eats and drinks - no other card had done that before. And by eats and drinks it means restaurants, fast food, grocery stores, convenience stores, bars and yes, food and grocery delivery services. Next the card earns 3x points on popular streaming services, 2x points on gas, travel and transit while all other spending earns 1 point per dollar. With travel and cash back redemptions on the Cobalt Card starting at a value of 1 cent per point that means this card gives you a minimum 1%, 2%, 3% and 5% return on your spending but it can actually go higher than that with some of the card's other redemption options. We recommend reading our review of the card here to learn about those redemption options.
Also check out our Rewards Canada Clash - Clash of the Reward Charts! American Express vs. RBC and see how the Cobalt Card destroys the RBC Avion card.
Provides the utmost in rewards flexibility with a trio of travel redemption options and redeem for any purchase made on the card (ie cash back)
Earns 5x Points per dollar on Eats & Drinks (Globally) - including food delivery services like Skip the Dishes and Instacart
Hint: Use Instacart to bypass Costco, Loblaws, Real Canadian Superstore,
and other Loblaw family of stores non-acceptance of American Express. Check out our Cobal Card Confirmed Multiplier Locations to see where you can earn more points around the world!
Provides a 1% to 10% or higher rate of return when redeeming for travel
Provides a 1% to 5% rate of return when redeeming for any purchase on the card outside of travel (your cash back option)
Redeem your points at anytime for virtually any purchase starting at only 1,000 points (or as little as $200 in spending)
Convert points to Air Canada Aeroplan, Air France KLM, British Airways Executive Club, Marriott Bonvoy and others
2024 Top Overall Travel Rewards Card | 2024 Top Hybrid Travel Rewards Card
In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets
Monthly Fee $12.99/month of Cardmembership ($155.88 annually) | Additional Cards: $0 | Annual interest rate 20.99% on purchases and 21.99% on funds advances
One of Canada's oldest, largest and best known loyalty programs has a lot of credit cards partnered with it. The question is which one is the best Air Canada Aeroplan card at this point in time. Right now that's the TD Aeroplan Visa Infinite Card thanks to its sign up bonus and first year annual fee rebates. Add in the benefits for flying with Air Canada and the Preferred Pricing for Aeroplan flight redemptions and this is why this card is the mainstay Aeroplan card in Canada
The welcome bonus of up to 50,000 Aeroplan Points
Aeroplan Miles are very valuable when redeeming for business class and first class flights
A strong earn rate is offered on this card of 1 to 1.5 Aeroplan Miles per dollar spent
Extra benefits like preferred pricing on Aeroplan award flights, first checked bag free on Air Canada flights & more!
2024 Top Airline Credit Card
Earn up to $1,200 in value† including up to 50,000 Aeroplan points†
Conditions Apply. Account must be approved by June 3, 2024.
Annual Fee $139 | Additional Cards: $75 † | Annual interest rate 20.99% on purchases and 22.99% on funds advances | $60,000 personal or $100,000 household annual income
Earn up to $1,200 in value†, including up to 50,000 Aeroplan points† (enough for a round trip to New York City†), and additional travel benefits. Account must be approved by June 3, 2024.
Earning Aeroplan Points
This offer is not available for residents of Quebec. For Quebec residents, please click here.
† Terms and Conditions apply.
Sponsored advertising. The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.
With the HSBC World Elite Mastercard no longer open to new applications, this category now goes to the Scotiabank Gold American Express Card. This the card to have for making purchases in other currencies as you'll save on average 2.5% over most cards in Canada. On top of this it is a Points Earning Machine with earn rates that give you 1% to 6% back on your spending when you redeem for any travel (yes any travel with any travel provider) Or you can choose to redeem points for groceries at Empire stores (Safeway, Sobeys, Freshco, IGA & more), Cineplex purchases and even at Home Hardware with the same value as the travel redemptions so you don't have worry about which redemption provides the best return!
The welcome bonus of 40,000 Scene+ Points provides great value
Earns 6x points at Empire grocery stores, 5x points for other grocery stores, dining plus 3x points on gas and transit
No Foreign Transaction fees
Redeem points for any travel you book on the card. No restrictions of booking via a credit card's travel agency!
Redeem points for groceries, dining, movies and more at the same value as the travel redemptions
Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points¹. Offer ends Jul 1, 2024
Annual Fee: $120 | Additional Cards: $29 | Minimum Income $12,000
*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
Another major category to pay attention to in our current market situation is if you are needing to run a balance on your credit card(s). If you are and that card is a reward card with high interest rates you may need to look at a lower interest card. This is especially the case if you feel like it will take you more than two or three months to pay off that balance. In these cases the best low interest card in our market is the MBNA True Line Mastercard. It has a great standard low interest rate of 12.99%, which is 6 to 9% lower than most cards.
Standard annual interest rate of 12.99% on purchases and balance transfers
No annual fee
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.
$0 annual fee | $0 Additional Card | Standard Annual Interest Rates of 12.99% on eligible purchases, 12.99% on balance transfers✪, and 24.99% on cash advances|
‡ ††, ‡, ✪, ***, ††††, Terms and Conditions apply.
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..
If you are new to Canada or looking to start building (or rebuilding credit) one of your best options is to get a secured credit card. And the best option out there is the Neo Secured Credit card. This card is exact copy of their popular Neo Credit card which offers great cash back rewards and more. You get all that with the Neo Secured Credit card and you can choose how much money you want to secure the card with. It can be as little $50 or any amount above that and that becomes your card's credit limit.
It receives all the same rewards and benefits as the standard Neo Card!
$25 cash back bonus when you are approved for the card
No annual fee
Limited time offer: $25 welcome bonus2 when you apply and are approved for a Neo Secured Credit card
No monthly or annual fees1 for free Standard rewards plans
1 For Quebec: Monthly Statements; No monthly or annual fees; 21-day grace period; Minimum payment is the higher of $10.00 or 5.0% of total statement balance; Purchase rate (19.99%-26.99%) and cash advance rate (21.99%-25.24%).
2 Limited-time offer. Only new Neo Secured Credit customers are eligible for this offer. This offer is only awarded if a new customer is approved for a Neo Secured Credit. Customer has 90 days to complete the card application process. Offer is subject to the Rewards Policy, the Neo Platform Terms and Conditions and all other applicable terms and conditions. Offer may be amended or cancelled at any time without notice
3 Average based on current offers at select partners. Cashback varies per plan, offer and partner
4 Conditions apply.
After a revamp in late 2021, there is a new champ as the best cash back in card, well actually it was a champ before, got knocked down to second place but now has firmly taken back the top spot. That card is the SimplyCash® Preferred Card from American Express. This has some of the best overall cash back earn rates thanks to a base earn rate of 2% and then 4% cash back on grocery store and gas station purchases. Sure other cards may even go as high as 5% cash back in select categories but this card's 2% base earn is pretty much double that of all those competitors and that makes a big difference in your cash back earning.
One of the highest cash back welcome bonuses where in your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months
4% cash back on grocery purchases (up to $1,200 cash back annually for this category), unlimited 4% cash back on gas purchases
2% cash back on all other purchases
Strong insurance coverage, access to Amex Offers (Statement credits/discounts) and American Express Experiences
2023 Top Cash Back Rewards Credit Card
Earn accelerated earn rates on eligible gas and grocery purchases
In your first 10 months as a new SimplyCash® Preferred Card from American Express Cardmember, you can earn a $40 statement credit for each monthly billing period in which you spend $750 in purchases on your Card. This could add up to $400 in statement credits in the first 10 months
Monthly Fee: $9.99 ($119.88 annually) | Additional Card Fee: $0 | Annual interest rate 20.99% on purchases and 21.99% on funds advances; Missed payment applicable rates, 24.99% - 26.99%
The Canadian credit card market has no shortage of no annual fee cards and most provide a very similar level of rewards and benefits. The best of them in our mind has changed in 2021 - we think the best card is now the American Express Green Card. It provides the same type of flexibliity as its older sibling, the American Express Cobalt Card in that you can redeem for any travel, redeem for cash back and even convert the points to Aeroplan, British Airways, Marriott Bonvoy and other programs. In fact it is the best no annual fee card for earning Aeroplan points!
Recommended reading: Clash of the Credit Cards! American Express® Green Card vs. CIBC Aeroplan® Visa* Card
Provides the utmost in rewards flexibility with a trio of travel redemption options and redeem for any purchase made on the card (ie cash back)
Earns 1 point per dollar on all spending. That's no less than a 1% return and goes higher depending on how you redeem the points
The welcome bonus of 10,000 points is worth no less than $100
Convert points to Air Canada Aeroplan, British Airways Executive Club, Marriott Bonvoy and others
2023 Top No Fee Travel Rewards Credit Card
Get the Card that lets you live in the moment while getting ready for the future. The American Express® Green Card lets you go for it with every swipe or tap of your Card
As a new American Express® Green Cardmember, you can earn a Welcome Bonus of 10,000 Membership Rewards® points when you charge $1,000 in purchases to your Card in the first 3 months of Cardmembership. That’s $100 towards groceries or concert tickets
Annual Fee: $0 | Additional Card Fee: $0 | Annual interest rate 20.99% on purchases and 21.99% on funds advances; Missed payment applicable rates, 25.99% - 28.99% Variable
The most best AIR MILES credit card in Canada is the BMO AIR MILES World Elite Mastercard. It has a good limited time welcome bonus that includes paying no annual fee in the first year. The card provides an annual discount on AIR MILES Reward flights anywhere in the world, has airport lounge access membership and offers free global Wi-Fi that even works on WestJet flights. On top of all this it has a pretty decent insurance coverage package. Like we said this the most well rounded AIR MILES card in Canada.
One of the best things about this card is the 25% discount it provides on one worldwide AIR MILES redemption annually
Complimentary membership in Mastercard Travel Pass provided by DragonPass
Provides automatic AIR MILES Onyx Elite Status
World Elite Mastercard benefits like free global Wi-Fi from Boingo, benefits from Ritual and more
Welcome offer: Get 2,000 AIR MILES Bonus Miles and we’ll waive the $120 annual fee for the first year*
Annual Fee: $120 | Primary Card $50 Additional Card | Interest Rate: Purchases 20.99% Cash Advances 23.99% (21.99% for Quebec residents)
Several years ago we had upwards of six credit card choices for hotel loyalty programs but that has now dwindled down to one. Unfortunately many Canadians haven't caught on to hotel programs and the value they can provide. The best hotel credit card in Canada is the Marriott Bonvoy American Express card and it can provide huge value. Marriott Bonvoy points have a minimum redemption value of about a penny each and with this card earning no less than 2 points per dollar that translates to a 2% return - at a minimum. There are many cases where the value is much higher depending on which hotel you redeem for. Another good thing about a hotel credit card is that if there 2 or 3 or 4 of travelling you only need to earn enough points for one redemption - ie one hotel room - compare this to trying to earn enough points to redeem for 2 to 4 flights. Hotel programs, especially Marriott Bonvoy are a hidden gem in the travel world.
You earn a free night award each year on your card's anniversary date
Automatic Marriott Bonvoy Silver Elite status and 15 night credit towards status
You can convert Marriott Bonvoy points to over 40 airline programs including Air Canada Aeroplan
The card has one of the best everday best earn rates of 2 points per dollar which we value as a 2% return at a minimum
Travel to new heights with the Marriott Bonvoy® American Express®* Card. Earn up to 80,000 Points:
New Marriott Bonvoy® American Express®* Cardmembers, earn 65,000 Welcome Bonus points after you spend $3,000 on your Card in your first 3 months of Cardmembership. Plus, earn an additional 3 points for a total of 5 points on every $1 spent on eligible travel and gas purchases in your first 6 months (up to 15,000 points). Offer ends May 6, 2024
Annual Fee: $120 | Additional Card Fee: $0 | Annual interest rate 20.99% on purchases
You would think CIBC's Mastercard that is exclusively for Costco members would be the best Mastercard for Costco purchases but that's not the case! That card only earns 1% cash back at Costco where other cards can earn more. Your best bet is the Brim World Elite Mastercard as it provides a 2% return (on $25,000 in total annual spend), great benefits, No Foreign Transaction Fees and has no annual fee in the first year.
Recommended reading: Top 5 Mastercard Cards to use at Costco
You'll earn 2% cash back on all your Costco purchases until you reach the annual $25,000 cap on 2% cash back
The card offers No Foreign Transaction Fees so you'll save 2.5% on average on purchases made outside of Canada
It has a really strong insurance benefits package
Up to $500+ in first time bonuses from Brim merchant partners + no annual fee in the first year
Annual fee: $199 | Additional Cards: $50
Don't be swayed by the $799 annual fee - this is a high end card with an annual fee to match. The card comes with welcome bonus of up to 80,000 points which is worth $800 or more. This isn't even taking into consideration all the other benefits that this card affords and there are a lot. An annual $200 travel credit, hotel elite status, NEXUS credit, the best lounge access of all cards in Canada and more.
Recommended reading: How to maximize the elite status benefits from The Platinum Card from American Express
Earns 3x Points per dollar on dining - including restaurants, fast food, coffee shops and more.
Redeem your points at anytime for virtually any purchase starting at only 1,000 points (or as little as $334 in spending)
Convert points directly to Air Canada Aeroplan or British Airways Executive Club on a 1:1 basis
Amazing travel benefits like an annual $200 travel credit, airport business class lounge access benefits, hotel elite status and more
2024 Top Ultra Premium Credit Card
Earn up to 100,000 Membership Rewards® points - that’s up to $1,000 towards a weekend away
Annual Fee: $799 | Additional Card Fee: $250 for Platinum, $0 for Gold (First 2 Cards) then $50 each
Storming onto the market in late 2019 the American Express Business Edge Card quickly took the honours of the best small business card in Canada. A strong sign up bonus and mid-level annual fee on the primary card only (up to 99 supplementary cards are free) are just the start of why this card is so good. Now add in the earn rate of 3 points per dollar on eats & drinks, office supplies & electronics and rides & transit and the card just gets better. Then you have have the power of the Membership Rewards program on the redemption side where 1,000 points = $10 towards any purchase or you can utilize Amex' Fixed Points travel program to score huge value when travelling and the list goes on!
The welcome bonus of up to 45,000 points (worth $450+) coupled with a mid level annual fee is a huge benefit to this card
The earn rate of 3 points per dollar on eats & drinks, office supplies & electronics and rides & transit
1,000 bonus points for each month you spend $3,000 or more on the card - for the life of the card!
Valuable redemption options via the Membership Rewards Select program including the ability to convert to Aeroplan
Top Small Business Travel Rewards Credit Card for 2023
Earn up to 67,000 welcome bonus Membership Rewards® points
Earn 45,000 Welcome Bonus points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership
Plus, earn 10x the points for every $1 spent on eligible business essentials including office supplies & electronics, rides & gas, eats & drinks within 6 months of Cardmembership, up to a maximum of 10,000 points.
You can earn an extra 1,000 Membership Rewards points for each monthly billing period in which you spend $3,000 in purchases on your Card.
This could add up to 12,000 extra points in a year.
That’s $670 in statement credits that can be reinvested in your business.
Annual Fee: $99 | Additional Card Fee: $0
Earn points that you can redeem in a variety of ways.
Make the most out of a full suite of business management tools that give you more control over your business - anytime and anywhere.
Access coverage that can protect your business purchases when you charge the full price of eligible items to your American Express Business EdgeTMCard.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.
There you have it! The best cards to get in various categories in Canada! Be sure to book mark this page as we will be adding more categories and as new cards or offers come along the best cards in each category may change!
This feature was first posted on April 14, 2020 and is updated regularly.