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What I learned most about my topic was that there are so many choices when selecting a credit card. You really have to review in detail all offers and find the one that suit you best.

When I turned 18 my parents told me to apply for a credit card so I would be building a credit history. At the time I was refused at different banks for the offer I wanted. I had to go to my home bank as they were the only ones who would approve me based on the fact, I’ve had an account there my entire life. I really had no choice with my first credit card.

If I could pass on my knowledge to someone, I would first say it is really important to find out your options first.  If you have a good credit rating you will have more options and it is very important to understand your spending habits and credit behaviours. These will both impact what type of credit card is best for your, for example low interest rate versus rewards.

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Summary of Interest Rates by Credit Card
I chose this image as it explains in chart form a summary table of the lowest interest cards available in Canada. I found the chart easy and simple to read while it provided good information on each option.

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Greedy Rates

This website Greedy Rates has many options and provides consumers with several links to compare the various credit card offers. Its main page has a chart similar to Money Sense, but also has several links to take you into more detail about each card.

The one thing I don’t like about it is that it has too many pop-up ads for credit cards. It wants you to apply for a credit card while viewing this site. It has direct links to all applications and pop-up ads are distracting. I do like the amount of information it provides on the benefit of each card.

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Advertiser Disclosure This article/post contains references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services.

If you're looking to bathe yourself in points, miles, cash or simply bask in the glory of 0% interest rates, Greedyrates.ca' s latest picks for Canada's Best Credit Cards for 2019 should get you lathered-up into a frenzy! You can stick with the card you have in your wallet, but do so at your own risk. Click the navigation links below to get to your preferable credit category quicker.

Credit Cards Comparison in Canada in 2019

Best Credit Card Offer

This offer is not available for residents of Quebec. For Quebec residents, please click here.

In addition to being a purposeful and effective tool for earning cash back on gas, grocery, and recurring bill purchases, the TD Cash Back Visa Infinite card also offers one of the market's best exclusive introductory bonus offer of 6% on eligible purchase categories for your first 3 months. Although the offer extends up to a maximum spend of $3,500 worth of total spending in these categories (that's $210 cash back), that's a lot of value.

The card is also worthwhile after the promotion ends, collecting at a regular rate of 3% in the categories mentioned previously, and then 1% everywhere else. Use the cash to pay down your account balance however you like, or let it collect indefinitely with no expiration. You'll also enjoy complimentary membership to TD's Auto Club, which provides roadside assistance to cardholders. With travel medical insurance included along these benefits, it's not surprising that cardholders will need to show a $60,000 minimum income to become eligible, and pay a $120 annual fee.
Click here to apply for the TD Cash Back Visa Infinite
Best Credit Card for Cash Back Promotion and First Annual Fee Waiver
Scotia Momentum Visa Infinite
If you are seeking cash back rewards, the Scotia Momentum Visa Infinite offers some of the most comprehensive cash back accrual rates in Canada.

Cardholders receive 4% cash back on eligible grocery and gas purchases-one of the highest regular rates in Canada for these purchase categories. This is capped at a very high annual spend limit of $25,000 ($1,000 cash back). The card also returns 2% cash back at pharmacies and automated recurring bills. All other purchases generate 1% cash back.

The Momentum Visa Infinite card also delivers the Canadian market's best introductory cash back promotion, with 10% cash back for your first 3 months on everyday expenses. New cardholders will earn at 10% until the 3 months is over or until they've collected $200 cash back (up to a maximum spend of $2,000 in the first 3 months). Be aware however that one must apply before April 30, 2019 to be eligible for the accelerated cash back promotion and the annual fee waiver.

This may seem like enough, but Scotia's Visa Infinite card also offers entry to fine dining experiences and music performances, and provides perks at luxury hotels. To add even more value, cardholders gain access to an around-the-clock concierge service for all their planning and reservation needs. Finally, the Scotia Momentum card offers excellent travel benefits including several kinds of travel insurance like medical, trip interruption, flight delay, and more.

All of this is sweetened by the fact that the card waives its annual fee for the first 12 months (accounts must be opened by date included in the terms and conditions; please click on the link below).

For more cash back categories, visit our page of the Best Cash Back Credit Card Rankings in Canada for 2 019.
Click Here To Apply For The Scotia Momentum Visa Infinite
Best Credit Card for Aeroplan

TD® Aeroplan® Visa Infinite

Eligibility Criteria:
- Credit score required: good_excellent
- Min personal income required: $60000
- Annual fees: $120

This offer is not available for residents of Quebec. For Quebec residents, please click here.

Those who fly often with Air Canada will appreciate the ability to weave future travel plans into their daily purchasing habits. The best credit card for the job is TD® Aeroplan® Visa Infinite, which not only offers a generous and immediate Aeroplan miles bonus but also grants extra benefits on Air Canada flights. New cardholders will receive 30000 Aeroplan Miles - 15,000 Aeroplan Miles just for making an initial purchase with the card (even something like a candy bar qualifies) and then another 15,000 Miles for spending $1,000 in their first 3 months, Better yet, they'll earn 1.5 Aeroplan miles for every $1 spent on groceries, gas, drugstore, and aircanada.com purchases. Outside these categories cardholders will collect 1 Aeroplan mile for every $1 spent.

Additional Aeroplan benefits mean that cardholders will double their Miles earn rate at any participating Aeroplan partner retailers or at the Aeroplan eStore, and Aeroplan miles will never expire for members. On Air Canada flights, complimentary checked bags and priority boarding is nice to have. The card's $120 fee, rebated in the first year, is accompanied by the addition of other lucrative travel perks: Visa Infinite cardholders will also enjoy a full suite of travel insurance including coverage for travel medical, trip cancellation and interruption, delayed and lost baggage, flight or trip delay, auto rental collisions and damage, and even a one-time annual pass to the Air Canada Maple Leaf Lounge. Finally, we always appreciate purchase security and extended warranty coverage for new items bought with the card, as well as worldwide discounts at Avis and Budget Rent A Car of up to 10%.

Applicants should keep in mind that the minimum individual and household income requirement for eligibility is $60,000 and $100,000, respectively. Those with a higher annual income might even consider the TD® Aeroplan® Visa Infinite Privilege card, which is similar but upgraded in many respects (higher earn rate, better bonus, additional airport lounge passes, and more).
Click here to apply for the TD® Aeroplan® Visa Infinite card
Best Credit Card for Flexible Cash Back

Cash back is a pretty straightforward perk, but even a straightforward perk should ideally be tailored to a cardholder's interests. With the Tangerine Money-Back card, it's easy for cardholders to choose two purchase categories where they'll earn 2% cash back. The card breaks up purchases into different groups: grocery, furniture, restaurants, hotel-motel, gas, recurring bills, drug store, home improvement, entertainment, and public transit and parking. Cardholders simply need to do an analysis of where they spend the most each month before picking the relevant cash back categories to begin earning.

By choosing to send all or a portion of their cash back to a Tangerine Savings Account, cardholders will earn the right to choose a third cash back category. On purchases not from a chosen category, cash back accrues at 0.5%. The way that cash back is redeemed is also flexible: you're given your cash back monthly and can decide to apply it to your balance or send it to a savings account.

As an additional perk, other authorized users on your account can receive supplementary cards for free and enjoy earning cash back alongside you. You'll also enjoy protection for new items purchased with the card and extended manufacturer's warranties where applicable.
Click here to apply for the Tangerine Money-Back card
Best Credit Card for Going Out

A night out on the town in Canada is rarely cheap. But with the new Cobalt card from American Express, cardholders can earn accelerated reward points on all their restaurant spend, and then redeem these points on travel and entertainment.

In addition to having a great credit card referral program bonus, the card's standout feature is its massive earning rate on food: 5 points per $1 spent on dining out (and in!). This includes restaurants, bars, takeout, and even groceries. Points are also earned on travel in all its forms, with 2 points accrued per $1 spent on taxis, ridesharing, rail, gas, and airfare.

Fast rewards for everyday purchases are complemented by the card's special purchase interest rate promotion: 7.99% interest on all purchases charged to the card in your first 6 months. This half-year period can be used to save money on a big-ticket item, trip, or other expense that you aren't able to pay off immediately.

Amex's generous bonus offer adds even more value. The introductory promotion allows new cardholders to get up to 30000 points in their first year - just for spending $500 per month. 1 rewards point is equal to $0.01, giving the first-year bonus a potential value of $300. Cardholders can redeem their rewards by treating themselves to concerts, sport events, theatre, or any other Ticketmaster event they like. Or, if they prefer to get out of town, they can cash in the rewards for a long-haul flight to virtually anywhere in Canada or the continental United States.
Click Here To Apply For The American Express Cobalt™ Card
Best Credit Card for People Looking For Free Travel

This card is phenomenal if you're looking for a rich sign-up bonus, redemption flexibility, insurance and a great rewards rate.

The American Express Gold Rewards Card comes with a great welcome bonus. First, it comes with a 25000-point welcome bonus (minimum spend of $1500 in the first 3 months). The great thing about the welcome bonus is that you can either use it as a $250 credit against any travel expense on your credit card statement. Or, you can convert it to Aeroplan miles 1:1 at no extra cost, meaning it effectively becomes a 25000 bonus Aeroplan miles!

The Amex Gold Rewards card also happens to be a great rewards earner, but more than that, the highest earning Aeroplan credit card in the country. You get 2 points per dollar spent in grocery, gas, pharmacy and all travel purchases and point everywhere else. Remember, if you convert your points to Aeroplan that's 2 Aeroplan miles in gas, grocery, pharmacy and all travel! The best any other Aeroplan credit card does is offer 1.5 miles per dollar spent!

With 25000 points that can be converted into a $250 travel credit or 25000 Aeroplan miles, you can redeem for a return flight to anywhere in North America from any Canadian city!
Click Here To Apply For The American Express Gold Rewards Card
Best Credit Card for Hotels

Eligibility Criteria:
- Credit score required: fair_good
- Min personal income required: N/A
- Annual fees: $0
- This offer is not available for residents of Quebec. For residents of Quebec, please click here

The MBNA Best Western Rewards Mastercard earns points for hotel stays. It's an excellent choice for frequent travellers or those who love a vacation (which would be...well...everyone). Cardholders earn 1 Best Western Rewards point for every $1 charged to the card. And eligible purchases at Best Western properties earn a massive 5 points per $1 spent, one of the most accelerated earn rates of any rewards card in Canada. On top of this, new cardholders get a welcome bonus of 20000 points-enough for a free night stay at a Best Western property. The signup bonus is earned for making any purchase on the card, no matter how small.

Along with the accelerated earn rate and welcome bonus, the MBNA Best Western Mastercard offers fast-track Gold Elite Status after the 1st eligible purchase with the card. Diamond Elite Status is earned after spending $10,000 on this card in a calendar year. These statuses enable cardholders to earn even more bonus points on every Best Western property stay, as well as special room upgrades and premium options like late check out.

Best Western Rewards points never expire and can be redeemed for the aforementioned free hotel stays, as well as transferred to other rewards programs, used to make a charitable donation, or exchanged for gift cards and merchandise. The card also comes with other MBNA perks including lost luggage assistance, travel insurance, rental car coverage, and extended warranty benefits and purchase assurance.

Overall, the Best Western Rewards Mastercard has quite an impressive set of perks for a card with $0 annual fee.
Click here to apply for the MBNA Best Western Mastercard
Best Credit Card for Insurance Coverage

The benefits of credit card membership are not limited to merchandise rewards or airfare; another advantage offered by select cards is protection during life's unexpected and unfortunate incidents. The BMO World Elite Mastercard is ideal for those who value these perks, as the card comes with a broad variety of travel insurance features that keep cardholders safe while they are away from home. It also provides $540 in cash value nearly immediately to new cardholders (more on that later).

The BMO World Elite card includes one of the most sought after travel features for Canadians: out-of-province emergency medical insurance. Those who experience a medical emergency during their travels have $2 million-worth of coverage at their disposal designed to defray hospital and other care costs.

But medical emergencies are just one of many complications that may arise during travel, and this Mastercard extends its protective advantages to other areas of necessity. Members will enjoy insurance for rental cars, trip cancellation, trip interruption, flight delay, and baggage. The card also comes with a wealth of additional trip assistance services including emergency cash advance, lost document replacement and more. Coverage is unlimited, meaning that each of these features applies to every trip, no matter how frequent.

For an extra fee, cardholders can access balance protection as well, an insurance feature which guarantees that their balance is paid in the event of disability, job loss, loss of life or limb, and critical or terminal illness. Considering that cardholders are also exempt from the first year's annual fee (limited time offer), receive a welcome bonus of 35000 points (after spending $3000 with the card in the first 3 months), earn rewards at a lucrative 2 points per $1 on all eligible purchases, and gain VIP access to airport lounges, the BMO World Elite has set the bar very high for travel cards.

Few of these other cards can boast that they deliver $540 of value to cardholders via bonuses, but this one can. The 35000 points ($250 value), first-year annual fee waiver ($150 value), and four annual VIP lounge passes ($140 value) add up to $540 and they are easily obtainable within a short time of receiving the BMO World Elite card.
Click Here To Apply For The BMO® World Elite™Mastercard®
Read more on Best Travel Insurance Credit Cards.

Best Credit Card for Mobile Device Insurance

It's financially burdensome to eat the cost of replacing one of today's expensive phones. Fortunately, a few rare credit cards include built-in coverage for mobile devices. An excellent travel card in many regards, the Meridian Visa Infinite Travel Rewards card offers $1,000 for lost, damaged, stolen, and failing mobile devices purchased with the card. This valuable perk is great for everyday cardholders, but particularly useful for travellers, who might be wary of risking their expensive phone while on a trip abroad.

Mobile insurance also complements an already top-tier package of other insurance benefits including medical coverage, trip cancellation and interruption insurance, and coverage for baggage, rental cars and more. The Meridian Visa Infinite card's basic earnings model collects 1.5 points per $1 spent on all net purchases, and then 3 points per $1 on all net purchases made in a foreign currency-another broadly beneficial point that's relevant for travellers as well. Points can be redeemed on a bevy of options like travel (from over 100 airlines), vacations, merchandise, gift cards, and other rewards. The card costs $99 per year, but in your first year the fee is instantly rebated after being applied.
Click here to apply for the Meridian Visa Infinite* Travel Reward Card
Best Credit Card for Household Expenses

Families that spend significant amounts monthly on groceries, gas, home and garden maintenance, and other household bills will benefit immensely from the huge earn rate of 3% in Canadian Tire Money on purchases in participating grocery stores. There's also 4% back on transactions in Canadian Tire, Mark's, Sport Chek, and Atmosphere, and 5 cents back per litre in Canadian Tire Money at Gas+ locations. The advantage of earning Canadian Tire Money, as opposed to other rewards credit cards, is that you can spend it like cash at the participating stores. So, first you earn Canadian Tire Money on your groceries, then you use it to pay the bill.

On top of this saving on your household expenses, you'll pay $0 in annual fees, get contactless payments for small purchases, and 24/7 online account management. Canadian Tire Money doesn't expire as long as your account is open.

It's important to note that once you reach $12,000 in qualifying purchases, your earn rate will drop to 1%. Additionally, certain stores including Wal-Mart, Costco, and Wal-Mart Superstore aren't included as 'grocery' stores for the purposes of your 3% earn rate.
Apply for the CTFS Triangle World Elite Mastercard
Best Credit Card for No Foreign Transaction Fees
Rogers World Elite Mastercard
The Rogers World Elite Mastercard is a useful, inexpensive tool for travellers, because it gives them the ability to avoid foreign transaction fees and annual fees as well. You'll save money when spending in a foreign currency, as the World Elite card earns an impressive 4% cash back on these foreign purchases. The 2.50% foreign transaction fees are still charged, netting 1.50% cash back for the cardholder during their vacation or business trip (or online shopping splurge). When spending in Canadian dollars at home the card has a competitive flat rate of 1.75% cash back.

The card offers all its cash back and fee-avoiding capabilities for no annual fee, though one will need to meet a minimum income requirement of $80000. Cardholders can redeem cash back on Rogers products, services, and bills, but also once yearly as a lump sum statement credit. While other cards might help you escape foreign fees by exempting you from them entirely, Rogers' card might be preferable because you're also getting cash back in excess of these fees, and at a high rate on domestic spending as well.
Apply for the RogerWorld Elite Mastercard
At the moment, the Home Trust Preferred Card is one of the select few cards in the Canadian market that waives foreign transaction fees altogether. Canadians used to have the choice of Chase's Amazon and Marriott cards too, but those were recently cancelled. The Home Trust Preferred is an attractive card for anyone with a minimum personal income of $15000 and a fair_good credit score. As well as %0 foreign transaction fees, it has $0 annual fee, 1% unlimited cashback (including on purchases overseas), free roadside assistance, purchase protection, and rental car damage and collision insurance. Average APR is 19.99%.

Though the net cash back on foreign currency purchases is higher with the Home Trust Preferred card than it it is with the Rogers Platinum, the Home Trust Preferred does have some notable limitations. Home Trust currently limits cardholders to 10 transactions per day and the card is not available to Quebec residents.

In addition to the above two no annual fee cards which either waive or subsidize foreign transaction fees, we also would like to highlight a more premium travel card that waives foreign transaction fees as well.
Apply for the Home Trust Preferred card
Frequent travellers will appreciate the Scotiabank Passport Visa Infinite's complete exemption from any foreign currency transaction fees. Paying no fees on purchases saves a lot of money during a trip, but the card's benefits also extend to travel amenities. The Passport Visa Infinite grants travellers a Priority Pass to airport lounges worldwide, which gives access at around half the price that non-members pay (around $14 per person). Cardholders often end up paying nothing, given that the card also provides 6 free lounge passes each year.

Though the annual fee is $139, which is more expensive than the free Rogers Platinum Mastercard and Home Trust Preferred card, the Scotia Passport's features outperform each as well. For $139, you gain complete exemption from foreign transaction fees (not merely cash back like with Rogers), the ability to earn Scotia Rewards (2 per $1 spent on grocery, dining, and entertainment) and the VIP airport lounge status and passes. You'll also gain great insurance benefits like travel medical, trip interruption and cancellation, and rental car coverage. The icing on the cake is an introductory bonus of 25000 points for just minimum spend of $1,000 during your first 3 months as a cardholder.
Apply for the Scotiabank Passport Visa Infinite Card
Click here to learn more about Foreign Transaction Fees and how to avoid them

Best Credit Cards for People with Credit Card Debt
The True Line® Mastercard®
EXCLUSIVE OFFER TO GREEDYRATES

Eligibility Criteria:
- Credit score required: fair_good
- Min personal income required: N/A
- Annual fees: $0
- This offer is not available for residents of Quebec. For residents of Quebec, please click here

It can be difficult to justify paying an annual fee for a credit card when your main financial priorities are reducing expenses and paying off debt. Those who need shelter from high interest, but who don't want to pay an annual fee, can apply for the True Line Mastercard and get an industry-leading balance transfer promotion of 0% for 10 months (fee of 1% of the amount advanced, minimum fee of $7.5). Those interested in the special promotion should keep in mind that the deal is available only to those who apply by This offer is not available for residents of Quebec. For residents of Quebec, please click here. After the promotional period ends the balance transfer and purchase interest rates both return to 12.99% (compare to the Gold card's post-promotional rate of 8.99%). These are still very forgiving interest rates when compared with the norm.

Applicants debating between the no-fee True Line Mastercard and the $39 annual fee Gold Mastercard (see below) should assess their debt situation and repayment prospects to figure out which card will help them save more in the long run. The True Line Mastercard offers the advantage of a longer promotional 0% interest rate period and has no annual fee. The Gold version has a shorter promotional interest period and an annual fee, but it has lower post-promotional interest rates.
Apply for the True Line Mastercard here The True Line® Gold Mastercard®
Eligibility Criteria:
- Credit score required: fair_good
- Min personal income required: N/A
- Annual fees: $39
- This offer is not available for residents of Quebec. For residents of Quebec, please click here

There's no better tool for eliminating high-interest debt than a favourable balance transfer promotion. The promotion offered by MBNA is also competitive, at 0% for 6 months on balances transferred. The special promotion is only available to those who apply by This offer is not available for residents of Quebec. For residents of Quebec, please click here, and it only applies to balances transferred within the first 90 days of card membership. Though approved applicants will pay 0% in interest on balance transfers for 6 months, they will need to pay a 1% balance transfer fee (minimum fee of $7.50) for each transfer they make.

The Gold card's interest rate on purchases and balance transfers after the 6-month promotion ends should be very attractive to debt-laden individuals, as it doesn't immediately skyrocket past 20.00% (as is the case with most other balance transfer cards). Instead, these rates are bumped up to a reasonable 8.99%, allowing cardholders to feasibly carry debt from month to month without harsh penalties. For a low fee of just $39, the True Line Gold Mastercard represents an immediate relief from high interest for a wide range of applicants.
Apply for the True Line ® Gold Mastercard® here
If you're looking to pay off a large amount of debt, the standard 6-10 month low-interest promotional period offered by most balance transfer cards might not be long enough to make a serious dent in what you owe. That's why we're delighted with the RBC Visa Platinum's special offer, which provides an industry-leading 30 months (two and a half years) for low-interest balance transfers.

Although the RBC Visa Platinum's promotional balance transfer rate is 'only' 5.9%-admittedly higher than the 0%-2.99% offered by its top competitors-the sheer length of the promotional period gives the deal a very good value overall. It might be tempting to choose a card with a shorter promo period and lower interest rate, but beware of the consequences for those who are unable to pay off their balance entirely during that promo: the interest rate will likely increase to around 19.99% or more immediately after the period ends, which can just further exacerbate the cycle of debt.

Though the special balance transfer offer is the card's most notable feature, the RBC Visa Platinum has other worthwhile features. There's $0 annual fee and cardholders are eligible for roadside assistance, emergency travel assistance, and a $0.03 per litre discount at Petro-Canada.
Apply for the RBC Visa Platinum card here
You can learn more about reducing credit card debt with balance transfer cards via our Best 0% Balance Transfer Credit Card Offers in Canada page

Best Credit Card for Fixed-Rate Low Interest

Cardholders seeking a low fixed rate of interest are likely planning on carrying a balance from month to month, and don't want to incur overly-punitive charges for doing so. This is not only possible, but straightforward and easy with the American Express Essential credit card. With just 8.99% interest on both cash advances and purchases, Amex offers one of the lowest permanent interest rates in the country alongside other noteworthy features.

Aside from the absence of an annual fee, Amex includes some other peripheral perks to sweeten the deal a bit. Most of these are from Amex's standard array of benefits, such as purchase protections and travel accident insurance up to $100,000. Cardholders will also be able to call Amex and reserve tickets for almost any sporting event, restaurant, or concert via Front of the Line Advanced Access.
Apply for the American Express Essential card
Best Credit Card for No-Fee Balance Transfers

American Express® AIR MILES®* Credit Card

If you're looking for a no-fee balance transfer card, but don't want to miss out on earning valuable rewards, the American Express® AIR MILES®* Credit Card is a solid choice. If you transfer your balance to the card when you complete your credit card application, you'll be charged only 1.99% interest on the balance for the first 6 months. What's more, you won't have to pay any balance transfer fee, and there's no annual fee for the card either. That means you can consolidate and pay down your credit card debt without paying extra for the privilege. However, it's important to remember that at the end of the low-interest balance transfer period, you'll start paying a high interest rate of 22.99% on those balances you transferred. Therefore we only recommend this tactic for balances that you are confident you'll pay off within 6 months.

Aside from the excellent balance transfer offer, you'll earn 500 Miles as a Welcome Bonus with a minimum spend of $500 in Card purchases in the first 3 months. The card earns 1 Mile for every $15 in Card purchases at AIR MILES Partners, and 1 Mile per $20 in Card purchases spent everywhere else.
Click here to learn more about the American Express® AIR MILES®* Credit Card
*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 link.

Best Credit Card to Repair or Establish Credit

As one of the best credit cards for bad credit in Canada, Refresh Financial's Secured Visa offers purchasing power and the ability to improve one's credit score, no matter how deeply it has fallen. Those with bad credit, no credit, or a history of bankruptcy and consumer proposals are all eligible to sign up and receive approval. The only requirement is a security deposit, which also matches the credit limit assigned to you by Refresh.

A nice part about the Refresh Financial Secured card is that its minimum security deposit is lower than most other secured cards. At just $200, it's easy to afford, thereby lowering the barrier to entry even further. The maximum deposit is $10000. With a secured card, cardholders can rebuild or establish a good credit score faster, because their repayment behavior is reported more frequently to credit bureaus like Equifax and TransUnion.

Once your credit score is improved, be sure to pay off the card in full to receive your security deposit back.
Apply for the Refresh Financial Secured Visa
Best Credit Card If You're A Student

Getting your first credit card when you're a student should be a simple task. You want a card that offers easy approval, does not require income or proof of income and offers great rewards!

Unfortunately, not all Canadian student credit cards fit the bill. In fact, some require that you hold a part-time job and show proof of income. Not exactly friendly to the full-time student. Others require you pay an annual fee, which makes no sense.

That's why we love the BMO SPC Student Mastercard. It comes with $0 annual fee, $0 income required, and has great perks, like 10-15% discounts at hundreds of retailers across Canada through SPC.

Lastly, you can either get the cash back or Air Miles no fee student credit card. The BMO SPC Cash back card offers an introductory cash back rate of 5% on all eligible purchases for the first 3 months from account opening, and the no fee Air Miles card comes with a 800 Air Miles welcome bonus!
Apply for the BMO SPC MasterCard
Learn more about Canada's Best Student Credit Cards for 2019.

Summary of Best Credit Cards in Canada in 2019

Picking the Right Companion for Your Wallet

Identifying your spending habits and unique credit card needs is crucial to narrowing down a final choice. Compare credit cards by issuer, card feature and more and see which card applies the most to your needs. After you input your unique criteria and preferences, as well as your common purchasing patterns, the tool will curate a list of cards which are suited to you personally.

Getting the best credit card is a simple matter, regardless of which card perks you desire most. Whether you want a high cashback percentage, amazing travel rewards, accelerated credit improvement, or if you just want to nab this month's most lucrative credit card promotions in Canada, it's easier than ever to find the best options available on GreedyRates. If you need any further assistance when making an ultimate decision, feel free to contact us by email and we'll give you a helping hand.

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Best Credit Cards in Canada 2019 | Comparison & Reviews | Greedyrates.ca

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Looking for a credit card but are unsure which to choose? Compare the best credit cards in Canada in 2019 including our expert's review. We categorized the best canadian credit cards 2019 in the most popular categories so you can easily choose the best card for your financial needs.

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Money Sense

This website moneysense.ca is very useful has it shows a comparison chart on the main page. It lists each credit card available and shows you the rewards and features of each card. It also indicates if there is fee associated with each credit card.

I find the chart very simple and easy to use to compare all types of credit cards. The link takes you RateHub.ca which I found interesting that the two websites are linked. For each credit card option there are also links to take the consumer directly to the specific website.  This helps you in making an informed decision.

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Some people want to earn points when they travel, as well as on an ongoing basis. If this sounds like you, then the TD First Class Travel Visa Infinite Card is our top choice. You can rack up TD Rewards Points throughout the year and then easily make a redemption through Expedia for TD. With this card, you'll get 3 Points per $1 spent on all your everyday purchases and 9 Points per $1 spent when you make online purchases through Expedia for TD. That means you're earning a 1.5% and 4.5% return respectively in travel Points. Expedia For TD is just like the regular Expedia platform so you'll have no problem finding ways to redeem your Points.

With the annual fee of $120 rebated for the first year and a welcome bonus of up to 65,000 Points-which has a travel value of up to $325-this is one of the best travel credit card offers available right now.

Annual fee: $120-waived for the first year

Welcome offer: 20,000 TD Rewards Points when you make your first purchase on the card; plus an additional 15,000 points each month, within your first three months, you spend at least $1,000.

Earn rate: 9 Points per dollar spent on travel online with Expedia for TD; 6 Points per dollar spent on travel via phone order with Expedia for TD; 3 Points per dollar spent on all other purchases

Income requirement: $60,000

Additional benefits: Travel insurance; Priority Pass membership discount; rental car coverage; discounts at Avis and Budget Rent a Car

Get more details about the TD First Class Travel Visa Infinite Card*
Best cash back card

When it comes to cash back cards, you want a high percentage back across the largest number of categories. That's why the Scotia Momentum Visa Infinite gets our nod. With this card, you'll receive 4% cash back on groceries and recurring bill payments charged to your card, 2% on gas and public transit spends, and 1% on all other purchases. Together, these make up some of the highest earn rates in the country-across some of the most common purchases.

This card's package of perks like concierge services, the Visa Infinite Dining and Wine Country program and like travel insurance round out the offering. You'll also get mobile device insurance, something that could come in handy as you wine and dine on your travels.

Annual fee: $120-rebated for the first year

Welcome bonus: 10% cash back on your purchases (up to $2,000) for the first 3 months

Earn rate: 4% cash back on groceries and recurring bills; 2% on gas and daily transit; 1% on everything else

Income requirement: $60,000

Additional benefits: Mobile device insurance; travel insurance; concierge service; Visa Infinite Dining and Wine Country program

Get more details about the Scotia Momentum Visa Infinite*
Best no fee cash back card

If you're looking for a no fee cash back option, then the Tangerine Money-Back card needs to be on your radar. With 2% cash back on up to three spending categories of your choice (such as groceries, gas and dining) and 0.5% back on everything else, this card is an excellent choice in the no fee category. When you sign up, instead of having the bank set categories for you, you can customize your cash back. You choose two categories where you earn 2% right away, but if you set your cash back to deposit directly into your Tangerine account, then you get to add a third category-meaning you can reap some considerable rewards.

If you meet the $60,000 annual income requirement you'll automatically be considered for the Tangerine World Mastercard, which comes with additional perks such as mobile device and rental car insurance.

Welcome offer: Sign up by March 31, 2020, and then spend at least $5,000 in the first three months to receive a $250 credit on your account. As well, new cardholders can transfer balances from higher fee cards, and pay a low rate of 1.95% for six months (subject to a fee of 1% of the value of your balance transfer)

Earn rate: 2% cash back on up to 3 bonus categories of your choice; 0.5% on all other purchases

Income requirement: $12,000

Additional benefits: Purchase assurance and extended warranty

Get more details about the Tangerine Money-Back Card*
Best no fee card for travel rewards

Welcome offer: 5,000 bonus MBNA Rewards Points when you sign up for e-statements, plus 5,000 points after you spend $500 with your first 90 days; 4 Points per $1 on bonus categories for the first 90 days

Earn rate: 2 Points for every dollar spent on gas, groceries and restaurants (up to $5,000 annual spend); 1 Point per $1 spent on all other purchases

Additional benefits: Purchase assurance and extended warranty

Get more details about the MBNA Rewards Platinum Plus Mastercard*

Best for saving on foreign transaction fees

Rogers World Elite Mastercard

Frequent travellers and cross-border shoppers need a card that won't break the bank when it comes to the foreign transaction fees that most banks charge (usually 2.5%) when you make purchases in another currency. The Rogers World Elite is our top pick because it offers 4% cash back on non-Canadian currency purchases, which works out to a 1.5% return when you factor in foreign transaction fees. Pair that with no annual fee, 2% back on Rogers services and 1.75% back on all other purchases, and you have a very competitive card. Another perk is the travel medical insurance, which covers you for trips up to 10 days. However, this card comes with a steep annual income requirement, so you may want to consider another option if you don't make $80,000 a year.

Welcome bonus: $25 when you make your first purchase within your first 3 months

Earn rate: 4% on foreign purchases (1.5% after foreign transaction fees); 2% on Rogers services; and 1.75% cash back on all other purchases

Income requirement: $80,000

Additional benefits: Travel emergency medical insurance for 10 days; rental car insurance; trip interruption and cancellation coverage

Best Air Miles credit card

Air Miles collectors, rejoice! The Air Miles World Elite Mastercard from Bank of Montreal pairs one of the most generous Air Miles earn rate av ailable-1 Mile per $10 spent-with an extremely valuable suite of travel-related perks, including travel insurance and airport lounge access. New cardholders get the first year's annual fee waived, and the welcome offer of up to 3,000 Miles will give you a substantial start on your Miles collection.

Annual fee: $120 (waived for the first year)

Welcome bonus: earn up to 3,000 Air Miles when you make your first purchase (1,000 Miles) and spend $3,000 in the first three months (2,000 Miles)

Earn rate: 1 Mile per $10 spent on your card

Income requirement: $80,000 (individual) or $150,000 (household)

Additional benefits: 2 free passes (renewed annually) to over 1,000 airport lounges; up to 15 days of out of province/out of country emergency medical protection worth up to $2 million; trip cancellation/interruption coverage; baggage and personal effects insurance; and rental car insurance.

Get more details about the BMO Air Miles World Elite*
Best low interest credit card

People looking to reduce the amount of interest they pay should consider a low-interest credit card like the MBNA True Line Gold card. You won't earn anything for your spending on the card, but the interest rate is just 8.99%, which is significantly lower than the average of 19.99% most other credit cards charge. If you're currently carrying a balance on a credit card with a higher interest rate, then you should also consider taking advantage of the optional balance transfer at the time of application. Balances transferred won't be charged interest for a full six months, which could save you bundles.

Purchase interest rate: 8.99%

Balance transfer offer: Optional balance transfer at 0% interest for the first 6 months (3% transfer fee, $7.50 minimum fee)

Get more details about the True Line Gold Mastercard*
NOTE: APR and balance transfer offer is different for residents of Quebec

Best card for balance transfers

Once your promotional period ends, your interest rate goes up to 12.99%, which is still lower than most credit cards; but if you can manage to pay off your balance when your rate is 0%, you can avoid any additional interest charges.

Purchase interest rate: 12.99%

Balance transfer offer: Optional balance transfer interest rate of 0% for the first 10 months (3% transfer fee, $7.50 minimum).

Additional benefits: Discounts at Avis and Budget Rent A Car

Get more details about the True Line Mastercard*
NOTE: APR and balance transfer offer is different for residents of Quebec

Best student credit card

The academic year tends to be front-loaded with expenses: text books, lab supplies and, if you're living off-residence, housewares and the cost of setting up utilities. This is where a rewards card comes in handy, especially with a juicy welcome bonus of 5% cash back on purchases on your first three statements. After the bonus period, you'll still earn 1% cash back on everything else. Fortunately for busy students, this straightforward card doesn't have a complicated points system or tiered earn rates - it just provides simple cash back.

Welcome offer: 5% cash back on your first 3 statements (for purchases of up to $2,000)

Earn rate: 1% cash back on all purchases

Additional benefits: Extended insurance on purchases made with the card; up to 25% off rentals at eligible Alamo and National Car rental agencies

Get more details about the BMO CashBack Mastercard*
Best hotel card

For those who travel frequently and want to make the most of their hotel-stay purchases, the Marriott Bonvoy American Express simply can't be beat. You can earn Bonvoy points on your credit card purchases that can be redeemed for a variety of perks and bonuses within the Marriott Bonvoy environment, including hotel stays at more than 7,000 properties worldwide, flights and rental cars, or you can exchange them for gift cards, merchandise or event tickets. The earn rate is 5 Points per dollar at Marriott properties and 2 Points per dollar everywhere else-and the 50,000 point welcome bonus (enough for three nights in a Category 2 hotel) gets you started on your way. With an annual free night and travel insurance, this is by far the best hotel card on the market.

Welcome offer: 50,000 Marriott Bonvoy Points after you charge $1,500 to your card within 90 days

Earn rate: 5 Points per dollar at Marriott properties; and 2 Points per dollar everywhere else

Additional perks: travel insurance; car rental coverage; annual free night's accommodation

Get more details about the Marriott Bonvoy Card*
Best store or retail card

PC Financial World Elite Mastercard

Due to its association with Loblaws stores and Shoppers Drug Mart, the PC Optimum program offers members access to a wide variety of ways to earn PC Points, including gas, drug store and grocery purchases. With an earn rate of 30 Points per dollar in Loblaws-owned stores (including No Frills and Real Canadian Superstores), 45 per dollar at Shoppers Drug Mart, and 10 everywhere else, this card is one of the best no fee cards for gas and groceries on the market. It's simple to redeem your PC Points. You simply show the card at checkout anywhere PC products are sold and get $10 back for every 10,000 Points. There's even an included package of travel and car rental insurance-and it carries no annual fee.

Annual fee: $0

Earn rate: 30 Points per dollar in Loblaws stores (including No Frills and Real Canadian Superstores) and PC Travel; 45 Points per dollar spent at Shoppers Drug Mart; 30 Points per litre at Esso; and 10 Points everywhere else

Income requirement: $80,000 (personal) or $150,000 (household)

Additional perks: Travel insurance; car rental coverage

Best card for perks

Annual fee: $699

Welcome offer: 50,000 Points when you spend $3,000 in the first 3 months plus an additional 10,000 points after your first 6 months

Earn rate: 3 Points per dollar on dining; 2 Points per dollar spent on travel; 1 point per dollar on everything else

Additional Benefits: Unlimited free lounge access at over 1,200 airport lounges; $200 annual travel credit; travel emergency medical insurance; travel accident insurance; car rental coverage; hotel upgrades; Platinum

Concierge services; American Express Invites

Get more details about the American Express Platinum*

Best secured credit card for building credit

You might be new to Canada, have a problematic credit history, or are just starting out. There are many reasons why you might need to build or rebuild your credit-but whatever the case, you'll want to take steps towards achieving a healthy credit score. That's where the Home Trust Secured Visa can come in. Unlike with conventional credit cards, it's easy to be approved for a secured card-you just need to be a resident of Canada (except Quebec) and have a deposit. The Home Trust Secured Visa tops our list for its low minimum deposit (you can start with as little as $500) and $0 annual fee. With this card, building your credit score is simple and affordable.
Get more details about the Home Trust Secured Visa No Fee Card*
How do credit cards work?

It's important to understand exactly what credit cards do, so you can use them to maximum advantage without falling into financial trouble. There are lots of benefits that come along with having a credit card. For example, they offer credit that can be used when you make a purchase, for balance transfers and/or cash advances. Essentially, your credit is like a short-term loan with a balance that comes due every month. As you pay down your balance, the credit available to you the following month starts to go back up to the maximum credit limit on your card.

A credit card's strongest advantage is convenience. Simply pay for your purchase with your credit card and you will be billed for the outstanding balance the following month-no cash in your wallet required. Other benefits include the ability to accrue rewards and points-such as cash back or travel points-based on a percentage of your purchases each month, usually between 1% to 4%, depending on which credit card you choose. You can then redeem those points for gift cards, travel or other items offered through the credit card company's online rewards catalogue.

Credit cards can also help you build credit. If you always pay on time, that will help you achieve a high credit score (650+points), allowing you to borrow for a mortgage or a car loan in the future at a reasonable interest rate from your local financial institution.

Of course, credit cards need to be used responsibly and work best when you are a disciplined spender. Have only one or two cards in your wallet and make sure they match your spending habits. And of course, make sure you can pay off the balance in full (or at the very least make the minimum payment) every month so you don't have to pay hefty interest on your unpaid balance. This can result in costly fees as well as getting points knocked off your credit score-a real no-no. But with a bit of diligent oversight and self-control, credit cards become helpful and convenient financial tools that can make everyday purchases easy.

Types of credit cards

Rewards credit cards

When it comes to rewards credit cards, the name says it all. These are cards that give you something back when you spend with them, whether it's points, miles or cash. The more you spend, the more rewards you get. For those who pay off their balance in full every month, these cards can really add value. There are four main types of rewards cards:

Cash back credit cards

These cards offer a rebate credited to your balance, usually calculated as a percentage of the dollar value of your purchases. Though most cash back cards have accelerated earn rates in certain categories (groceries and gas, for example), they all also have a minimum base rate for spends outside those categories. Your cash back rewards can help you save on anything you can buy with your card.

Travel credit cards

These cards offer points or miles to be redeemed towards travel-related purchases such as flights, hotels, cruises or vacation packages. Rewards might not be as straightforward as cash back, but travel points cards can help you save big on upcoming trips, with many offering perks including sign-up bonuses, comprehensive travel insurance, and even airport lounge access.

Store credit cards

These cards gift you with points for everyday purchases that can be redeemed for discounts off items from your favourite retailer. The idea is to reward brand loyalty with valuable benefits. The PC Financial Mastercard and the Canadian Tire Mastercard credit cards are great examples.

Hotel credit cards

Similar to travel cards, hotel credit cards reward consumers with points redeemable for hotel stays and perks. These cards are often linked or co-branded with a specific hotel brand or loyalty program, like Marriott Bonvoy or Best Western Rewards

Low interest credit cards

With standard interest rates sitting at anywhere between 19.99% and 22.99%, most rewards credit cards aren't the right fit for people who carry a balance. That's where low interest cards come in. These cards, which typically charge between 8.99% and 12.99% interest on purchases, allow cardholders access to credit without high interest charges that quickly add up. They don't usually have much in the way of extras or perks, but the lower rates help to ensure that you'll come out ahead in the long run if you generally need more time to pay off your card balance.

Balance transfer credit cards

Once you accumulate a debt load on an existing credit card, the interest will compound-rapidly. Your best bet is to transfer the debt to a balance transfer credit card, which lets you move debt from a high-interest card to one with a lower rate. These cards often offer promotional interest rates for a specific period-0% interest for the first 10 months, for example-which can buy you time to pay down your balance with little or no interest. Sometimes, even the regular interest rate on a balance transfer card is lower than usual.

Student credit cards

Student, or "starter," cards are credit cards aimed at people with no credit history looking to establish a credit score. These entry-level cards tend to have few qualification criteria, no annual fees and provide little in the way of perks or extras, but some do offer some decent rewards on your everyday spending

Secured credit cards

People who lack a good credit score or a local credit history often have trouble getting approval for standard credit cards. This can be a real problem for those wanting to build up their credit towards a future purchase or loan-but secured cards can offer a solution. This kind of card is "secured" with a deposit by the applicant and virtually anyone will be approved. The responsible use of a secured card will help build, or rebuild, your credit score.

How to decide: What is the best credit card for me?

To decide which credit is the best for you, you need to look at your priorities. If you normally carry a balance or you want to reduce your debt, then a low-interest or balance transfer card should be the only types you consider.

People who always pay off their full balance every month need to decide whether a travel or cash back card makes more sense for them. Travel cards can offer lucrative rewards, but if you don't like to travel, there's no point in getting a travel credit card. If this sounds like you, then a cash back card may be the way to go.

Now that you've got your category of card selected, take a look at the earn rate, additional, benefits and which type of points you earn for each card. If you happen to spend a lot on gas and groceries, then look for a card that has a high earn rate for those categories.

The annual fee should also be a consideration in your decision making, but if you think you're getting good value out of your additional benefits and you're making more back than you paid with the fee, then it shouldn't be a big deal.

Credit card points versus cash back: What to consider before deciding

In the end, most decisions will come down to whether a cash back or travel rewards credit card suits your needs and spending habits best. As mentioned, travel rewards can be lucrative, but cash back is simple since you don't need to worry about any potential travel restrictions. Think about the following for each type of card.

The first thing you want to look at is the earn rate. Take a look at your spending habits and pick a card that will earn you the most rewards. For example, if you spend a lot on gas, then pick a card that earns you more cash back at gas stations. High earn rates are great, but keep in mind that many of the top cards have a high income requirement. Cash back is simple to understand, but some credit cards will only give you what you've earned after you reach a minimum amount or once per calendar year. Find out how you'll get paid and make sure you're okay with it before you apply. If you're considering a card with an annual fee, make sure the extra cash back you earn is worth more than the fee. If it's not, stick to a no fee card.

Selecting a rewards credit card

Generally speaking, cards that earn you points are usually best used for travel redemptions. These cards will likely give you other ways to cash out your points, but the majority of the time, you get the most value for your points when redeeming for travel. Similar to cash back cards, you want to pick a card that gives you the most points on the categories you spend the most money. You also want to figure out what type of travel you prefer; you could get an airline-branded credit card or a hotel-branded one. There are also credit cards that allow you to redeem for any type of travel. Regardless of what you go with, you need to know how the reward programs work so you can maximize your points.

More on Canada's best credit cards

Our methodology

For the best credit cards 2020 ranking we ran the numbers for each of the cards in the seven categories based on $2,000 in monthly spending ($1,000 monthly for the student cards) as well as interest rates and offers. We also made some assumptions on spending-grocery spend of $500, gas of $200, restaurants of $200 and bill payments of $125, travel of $175, entertainment of $225, pharmacy purchases of $75 and other purchases of $500. (These were adjusted lower for student cards).

The end game was a magic number-that is, the annual net reward in dollar terms to identify the top cards in each category, plus an honorary mention. As highlighted above, our methodology also took into consideration other factors, including the value of a credit card's welcome bonuses, insurance benefits and flexibility.
‡MoneySense.ca and Ratehub.ca are both owned by parent company Ratehub Inc. We may be partnered with some financial institutions, but this does not influence the "Canada's Best Credit Card" rankings. You can read more about this in our Editorial Code of Conduct.

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Some people want to earn points when they travel, as well as on an ongoing basis. If this sounds like you, then the TD First Class Travel Visa Infinite Card is our top choice. You can rack up TD Rewards Points throughout the year and then easily make a redemption through Expedia for TD.

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Credit Card Genius

Credit Card Genius.ca is a Canadian website that helps the user find the credit card that is tailored to their needs. The options it provides is base on cash back, travel, insurance, interest rates, perks, low fees, acceptance and approval preferences.

I like this website as it is very easy to use as there is a slider tool that you click on to choose your preferences and it calculates the best credit card for you based on this data. It also tells you about the feature of each card and the benefit to the consumer. It gives you the option to compare cards on various features as well.

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Which credit cards in Canada are a cut above the rest?

That's the question we hope to answer every year with our rankings ‒ despite the unexpected pandemic, the economic recession, and shifts in consumer behaviour and preferences.

Though things are starting to look up.

With vaccines on the horizon, we can see the light at the end of the tunnel and perhaps even a return to normal towards the end of the year. (Trip to Hawaii using points, anyone?)

No matter your credit card preferences, you can fine-tune your search for the card that best meets your needs right here.

And the 26 best credit card winners are...

We start by poring over every detail of more than 169 Canadian credit cards, tracking and comparing over 126 different features for each one.

We then enter those details into our math-based comparison engine, which gives each card a rating out of 5 - our Genius Rating.

Using this rating as our guide, we determine the winning credit cards across 26 different categories.

Ranging from 1.99% interest, to 2% cash back, all the way to 3.76% average rewards return on spending, here's an overview of the well-deserved winners.

Please note the average earn rate is based on reasonably optimized spending and reward redemptions - we assume you won't redeem your points for a toaster when flights are worth 4x as much!

We also use a default of $2,000 per month in spending split sensibly across spending categories, like gas and groceries. For more personalized results, enter your own spending habits into our compare credit cards spending calculator in the sidebar.

Let's get into each category one by one and review the winners...

1. Best cash back credit card

The Scotiabank Momentum Visa Infinite gives you 4% back on recurring bills and grocery purchases, 2% back on gas and daily transit, plus 1% cash back on all other purchases ‒ for a $120 annual fee. On top of that, this Visa Infinite card will give you concierge service, Visa Infinite perks, plus 11 different types of insurance included at no extra cost.

And as an added bonus the first year is free, so you can take this credit card out for a test drive.

Other benefits:

10% cash back for the first 3 months, up to 2,000 spent.

Visa Infinite benefits.

See More Best Cash Back Credit Cards
2. Best no annual fee credit card

If you want rewards with no fees, the Brim Mastercard not only has no annual fee, but offers a high earn rate for your spending as well. You'll earn 1% cash back on all your purchases. And when you shop with Brim's 150+ retail partners, you can earn anywhere from 3% to 40% back. Throw in 5 types of travel and protection insurance and no foreign transaction fees, and it's no surprise this is our #1 no annual fee credit card.

Other benefits:

Includes rare mobile device coverage.

Bonus rewards when shopping with Brim's retail partners.

See More Best No Annual Fee Credit Cards
3. Best flexible rewards credit card

If you don't want to be tied down to one store or one type of reward redemption, flexible rewards credit cards fit the bill nicely. You get to be in charge and choose what you want to use your rewards on: travel, merchandise, cash back, investments, donations, and much more. At minimum, you won't be boxed in with blackout dates and limited choice of airlines when redeeming for flights. The best card in Canada right now to give you that flexibility combined with high reward value is the Scotiabank Gold American Express® Card. These rewards can be used for virtually anything. For best value, redeem for any travel purchase from Scotia Rewards and use your points to help pay for your trip. It's that simple.

Other benefits:

8 ways to redeem points, with a value of up to 1 cent each.

40,000 bonus points.

American Express perks like Front Of The Line and Amex Offers.

No foreign exchange fees.

See More Best Flexible Credit Cards
4. Best credit card for travel

Travel credit cards are some of the best credit cards you can get. The best of the best will offer its cardholders premium perks, big sign-up bonuses, and rewards that'll often get you the biggest bang for your buck. This #1 travel credit card is no exception. The American Express Cobalt™ Card gives cardholders a solid mix of flexible rewards, a generous welcome bonus, good insurance, and fun perks that all point to this card as the best travel credit card in Canada (as well as our best card overall). Plus, if you use your points with the Amex Fixed Points Travel Program, you'll get a solid 3.76% return on your spending on North American flights, making this card a top choice for travel lovers.

Other benefits:
See More Best Travel Credit Cards
5. Best credit card for balance transfers

We know it can be easy to fall behind on payments and end up with credit card debt we had no intention of racking up. If this is the case for you, a balance transfer credit card could be just what you need to help dig yourself out. Balance transfer credit cards allow you to take debt from one card and move it to another. Depending on what card you choose, you could end up with 6 to 9 months of low interest on those transfers. The top balance transfer card in Canada right now is the BMO CashBack Mastercard. It will give you 9 months of relief from high interest charges with 1.99% balance transfer interest - that's nearly a whole year of interest savings to try and get your credit card debt sorted out. (Not sure how balance transfers work? Read this blog post.)

Other benefits:

Earn 5% cash back for the first 3 months.

Earn up to 3% cash back on all purchases.

See More Best Balance Transfer Credit Cards
6. Best foreign exchange travel credit card

No one wants to pay fees when they don't need to, so credit cards with no foreign transaction fees are highly sought after. The bad news? These cards are few and far between. Our #1 no foreign exchange fee travel card is the Brim World Elite Mastercard. With this card in your wallet, you'll skip that dreaded 2.5% fee and get an average of 2.25% return on spending, and 15 types of insurance coverages.

Other benefits:
See More Best Foreign Exchange Credit Cards
7. Best Air Miles credit card

The BMO® Air Miles®† World Elite®* Mastercard®* is the best Air Miles credit card on the Canadian market right now - and for good reason. For starters, you get a sign-up bonus that's enough for 1 medium-haul flight. Then, for every purchase made, you get 1 mile for every $10 spent. And if that wasn't enough, concierge service, lounge access, and a 15% discount on Air Miles flights in North America are also included. Plus, this card will give you 14 out of 17 types of insurance - among the most of any credit card on the market. You can even try this card out for free for a year to make sure you like it before committing long term.

Other benefits:
See More Best Air Miles Credit Cards
8. Best low interest credit card

We always suggest that cardholders pay their credit card off in full every month, but we also realize that sometimes life can get in the way and it's easier said than done. If you find yourself forgetting to pay your card off in full and you end up with interest charges, that 20% can be pretty frustrating. If you're looking for a lower rate, the
HSBC +Rewards Mastercard® offers a permanent low rate of 11.9% on purchases, cash advances, and balance transfers.

Other benefits:

Earn up to 2 HSBC Reward points per $1 spent.

Rare price protection insurance included.

See More Best Low Interest Credit Cards
9. Best credit card for groceries

Best Visa card for groceries

Prefer to use a Visa instead? Then the Scotia Momentum Visa Infinite Card is at the top of our list. You'll earn 4% cash back on all your grocery purchases, as well as recurring bill payments, 2% cash back on gas and transit, while earning 1% cash back on all other purchases.

Best Mastercard for groceries

Our best Mastercard for groceries is the This card will offer you 2% cash back on all your groceries, which include Walmart Supercentres (something Visa and Amex cards don't offer). And it's all for no annual fee.
See More Best Grocery Cards
10. Best credit card for restaurants
See More Best Restaurant Cards
11. Best credit card for gas and transit

Want to earn rewards on your commuting needs, whether it's by car or mass transit? Fortunately, there are several cards that give you extra rewards on your commuting purchases. And the best one is the BMO eclipse Visa Infinite. You'll earn 5 points for every $1 you spend on gas and transit. This translates to a 3.55% return, the absolute best you can find on either purchase.

Other benefits:
See More Best Gas And Transit Credit Cards
12. Best credit card for insurance

Insurance is one of those things that people may not realize their credit card even comes with, but can be extremely valuable. Depending on your card's insurance coverage, you could gain extended warranty on all your purchases, mobile device protection, emergency medical, and even help if your flight or baggage gets delayed. In fact, credit cards can give you up to 17 types of travel and purchase insurance, and the card that comes with the best insurance coverage is the Brim World Elite Mastercard. You'll not only get the most types of insurance coverages at 15 out of 17 types, but get some good coverage amounts as well.
See More Best Insurance Credit Cards
13. Best student credit card

If you're a student, responsible use of credit cards can give you a good start on building your credit history and teaching yourself good spending habits. Sure, getting your first credit card can be stressful, maybe scary. The key is to spend within your means and pay off your balance in full and on time. The other thing is to research and compare your options. With no annual fee, cash back on every purchase, and multiple redemption options, the BMO® CashBack® Mastercard®* for students is at the top of our list.

Other benefits:

Redeem your rewards whenever you like.

Extended warranty and purchase protection.

See More Best Student Credit Cards
14. Best business credit card

If you're running a small business, every $1 matters. So you know getting the best credit card can go a long way. The top spot for this category goes to the American Express Business Edge. Why this card? It offers premium, high value rewards. Earn up to 3 points per $1 spent on gas, rides, electronics, office supplies, and eats, and 1 point per $1 on all other purchases. With an Amex Membership Rewards point worth up to 1.75 cents each, you're looking at a great return for your business purchases.

Other benefits:
See More Best Business Cards
15. Best U.S. dollar credit card

If you travel to the United States a lot (whether for work or play) and you have a U.S. dollar bank account or income, a U.S. dollar credit card could make sense. U.S. dollar credit cards are based in U.S. funds, and because of this, cardholders are not charged foreign currency transaction fees. This also means, however, bill payments will need to be made in U.S. funds. The RBC U.S. Dollar Visa Gold is one of the few Canadian-issued U.S. dollar credit cards that allows cardholders to earn rewards - and who doesn't want to earn rewards on their purchases?
See More Best U.S. Dollar Credit Cards
16. Best store credit card

Store credit cards are tricky, because you're often tied to one store when it comes to redeeming your rewards. But Air Miles credit cards count as store credit cards as well. And as such, the BMO AIR MILES®† World Elite®* Mastercard®* is our top store credit card. You'll earn 1 Air Mile for every $10 spent, and be able to redeem your miles for a wide variety of items, not just for travel.
See More Best Store Credit Cards
17. Best credit card for perks

Credit cards are not just about rewards - that's just the tip of the iceberg. Many come with some drool-worthy perks. The top card in this category by a mile is the American Express Platinum Card®, which gives you unlimited lounge access for you and a guest, a dedicated concierge line, a $200 annual travel credit, VIP treatment at the Toronto Pearson airport, incredible perks at hundreds of hotels, complimentary high-tier status, and much more.

Bonus read: Learn about all 17 credit card perks here.

18. Best rewards credit card
See More Best Rewards Credit Cards
Looking to max your rewards? Compare 20+ Canadian rewards programs side-by-side.

19. Best Aeroplan credit card

Other benefits:
See More Best Aeroplan Credit Cards
20. Best secured credit card

For those who have poor credit, a secured credit card is one place you can turn to aid in your quest to rebuild it. These cards don't offer much in the way of rewards or perks, but with near guaranteed approval, it's one tool you can use to improve your credit score. The best secured credit card in Canada is the Home Trust Secured Visa, which has no annual fee, and includes basic purchase protection insurance.
See More Best Secured Credit Cards
21. Best prepaid credit cards

LIke earning rewards, but don't want a traditional credit card? A prepaid credit card can be a great alternative to a regular credit card. Since you're simply spending your own money, there's no credit checks required when you make an application, or high credit card interest rates to worry about. Our top prepaid card is the KOHO Prepaid Premium Visa which offers up to 2% cash back on all purchases and no foreign exchange fees.

Other benefits:
See More Best Prepaid Credit Cards
22. People's choice credit card

A company can make lots of claims about their portfolio of cards, their customer service, and the ease of use of their rewards - but where the rubber meets the road is when a customer receives their card and gets to try it out. You find out what a card is really like when you get to hear what real people have to say. You voted with your credit card reviews and we listened. The Scotiabank SCENE Visa claimed the victory, with the average user giving it a 4.4 out of 5 stars.

Read more about People's Choice and why your review matters.

23. Best Mastercard

Looking for the absolute best Mastercard on the market right now? The BMO AIR MILES®† World Elite®* Mastercard®* offers great rewards, perks, and insurance. Earn 1 Air Mile for every $10 you spend and get a sign-up bonus of 3,000 miles. Then, anytime you redeem your miles for flights within North America, get a 15% reduction in the number of miles required to book your flight. Plus, with 14 types of insurance coverages, this card offers a lot for your travels.
See More Best Mastercards
24. Best Visa

Prefer having a Visa in your wallet? The TD® Aeroplan® Visa Infinite* Card is our top Aeroplan-branded card. You'll get a substantial welcome bonus, earn Aeroplan points on every purchase, and get some Air Canada benefits on the side.

Offer not available in Quebec, please click here instead.

Earn Aeroplan points on all of your purchases along with extensive insurance coverage and exclusive Air Canada perks that work on reward flights with the TD ® Aeroplan ® Visa Infinite* card.

See More Best Visa Cards
25. Best American Express
See More Best American Express Cards
26. Best overall credit card

Curious what the best credit card in Canada is? We were too, so we took every aspect into consideration - all 126+ features, all 169 cards. And for the 4th year in a row, comes out on top. Considering this card is the #1 card in 5 other categories, this award is just the cherry on top. The Cobalt card has no minimum income requirement, an impressive welcome bonus, some of the highest earn rates in Canada (5x on food at grocery stores and restaurants), plus exclusive Cobalt Perks and all the other perks that come along with being an American Express cardholder.
See More Best Overall Credit Cards
There you have it...

The best credit cards in Canada for 2021 in 26 categories.

If you're looking for a new credit card, this is the place to start. ( Find out why here.)

But it doesn't stop here. Our compare cards page will go over all the best credit cards based on parameters you enter in and give you our genius rating out of 5 for each one.

Choosing the right credit card for you

So with all these great options available, how do you choose the right credit card for you? There's a lot of factors that go into choosing the proper credit card.

Savings vs. rewards

First, do you have existing credit card debt, or do you typically carry a balance? You'll want a credit card that offers low interest rates or has a great balance transfer promotion. The savings you'll see on interest far outweigh any credit card rewards you might be forfeiting.

If this isn't you, then you can decide on what type of rewards you want to earn. If you travel at least every other year, you'll see the most valuable rewards with a travel card. Plus, travel cards have the best travel insurance coverages in case things happen and your plans change.

If you don't travel, like to keep things simple, and don't want to get into complicated rewards programs, a cash back card is best - money you can use for whatever you like (even travel).

No fee vs. premium cards

You'll also need to decide on whether or not to pay an annual fee. Our rule of thumb is you need to spend $1,200 per month on your card to offset the payment of an annual fee.

And if your monthly spend is less than $1.2K? Probably best to stick with a no fee card.

Our listing here of the best credit cards is a good starting place. But there are more tools on our site at your disposal. Use the compare cards page to get a broader look at other cards that are suited for you.

And if you want more options? All of our best card pages have lots of other cards to consider as well.

How do credit cards work?

For the average consumer, credit cards are quite simple. You use them to pay for purchases, and once per month, you'll get a bill detailing all your purchases, and how much you have to pay back. And for many credit cards, you'll also earn some rewards you'll be able to use.

How credit card companies make money

It's all thanks to interchange fees. The credit card companies charge the merchant a percentage of the total transaction amount to cover their costs, part of which goes into giving out rewards.

Of course, there are other ways the credit card companies also make money:

All of these fees combine to allow credit card companies to offer rewards, perks, and insurance coverages.

Standard credit card features

There's a long list of credit card features we've come to expect (and forget sometimes). Here's a few:

Zero liability guarantee which means no money leaves your bank account when fraud happens.

Convenient cashless transaction.

Security protection through chip and pin and fraud algorithms.

Pending transactions that allow you to reserve hotels, car rentals, and other services.

Convenient mobile payment option.

Free access to Boingo wi-fi for Mastercard cardholders.

Statements with convenient transaction history.

3 types of rewards credit cards

When it comes to earning rewards, there are 3 general types of credit cards.

1. Cash back

The simplest rewards cards are cash back credit cards. For every purchase you make, you'll get a percentage back in the form of cash back. For most credit cards this cash back gets applied as a statement credit once per year. Some do offer the ability to redeem your cash back when you like, once you've reached a certain amount of cash back earned.

2. Travel

Then there are travel credit cards. And while many travel credit cards can also be flexible rewards cards, pure travel cards have one major difference - the flexibility (or lack thereof). You have to book travel from a specific provider or airline, with no predetermined value. With travel cards, there's also no cash redemption option, the other big difference between these cards. You won't have the flexibility just to get some cash for your points.

3. Flexible rewards (or multi-purpose rewards you can use all-around)

Finally, there are flexible rewards credit cards. With these credit cards, you can redeem points for any travel booking you like (which in most cases has to be made through the reward program's booking site). There are always options to redeem your points for gift cards, merchandise, and they usually have cash redemption options as well. Cash redemption usually comes in the form of statement credits, but some allow you to turn your points into investments and other banking products as well.

4 types of credit card interest rates

Looking to save on credit card interest? There are 4 types of interest rates that credit cards may feature.

1. Purchase interest rate

The primary rate is the purchase interest rate. Once your grace period ends on your new purchases (which is typically 21 days after you receive your statement), the purchase interest rate comes into effect and gets added on to your monthly bill. However, it gets calculated from the date purchases are made, not when your grace period ended.

2. Cash advance interest rate

Cash advance rates get applied when you take out cash at an ATM using your credit card. These interest rates kick in right away as soon as you make your cash advance - there's no grace period with cash advances. Most credit cards charge a fee for the cash advance, on top of what the ATM provider may charge as well.

3. Balance transfer interest rate

Balance transfer rates take effect when you transfer the balance from one credit card to another. This rate also starts accruing right away, and for most credit cards there's also a fee you have to pay to complete the balance transfer. In many cases, you can also have an option to get money transferred directly to your bank account.

4. Promotional balance transfer interest rate

The last rate we track is the balance transfer promotion rate. Some credit cards offer an introductory rate on balance transfers for a set number of months after the account has been opened. These rates are incredibly helpful if you have an existing balance on a credit card.

Ranking methodology: How we determine Canada's best credit cards

How do we decide what the best cards are? We take into account over 126 features of each credit card which includes 3 types of rewards, 4 types of fees and interest rates, 17 types of insurance coverage, and 98 other major perks and benefits.

These are broken down into 8 main categories for scoring:

We then take those features and put them through our algorithm, which calculates a score out of 5.

That being said, each award has a set of preferences, which gives extra weight to select categories. For example, for the best travel credit card, we give extra weight to rewards, specifically travel rewards. In other cases, like determining the best credit card, our default weighting is used so take everything equally into consideration.

Learn more about our rating methodology here.

Your turn?

Do you have a go-to credit card for 2021 that didn't make our list? Let us know in the comments below.

Or if you're looking for more personalized recommendations...

Take our 3-minute quiz and we'll find the credit cards best suited for your wallet based on your preferences.

BONUS Alert: Find your best card, refer your friends, and get $5 for each successful referral. If we don't find your top card? We'll give you $5.

FAQ

How do you rank the best credit card in Canada?

We rank the best credit cards in Canada using our rating methodology. We analyze over 126 data points on every credit card, then put all these features through our algorithm, which then assigns a score out of 5 (our Genius Rating).

What is the best rewards credit card in Canada?

The best rewards credit card in Canada right now is Amex Cobalt. You'll earn up to 5 points per $1 spent on your purchases, which is also coupled with a high point value of up to 1.75 cents each.

What is the best Visa card in Canada?

Our top rated Visa credit card is the TD Aeroplan Visa Infinite. With this card, you can earn up to 1.5 points per $1 spent, get access to great Air Canada benefits, and get the first year fee rebated.

What is the best Mastercard in Canada?

The best Mastercard in Canada is the BMO Air Miles World Elite Mastercard. You'll earn 1 mile for every $10 spent, get 14 types of insurance coverage, and a 15% discount of the number of miles needed to redeem for a rewards flight within North America.

What is the best credit card for cash back?

To earn the most cash back, the Scotiabank Momentum Visa Infinite has high earn rates on a variety of essentials. You'll earn 4% cash back on groceries and recurring bills, 2% cash back on gas and transit, and 1% cash back on everything else.

What is the best credit card for points?

To earn the most reward points possible, the Scotiabank Gold American Express offers a high amount of flexible rewards points on every purchase. Earn 5 points per $1 spent on groceries, restaurants and entertainment purchases, 3 points per $1 spent on gas, transit and select streaming services, and 1 point per $1 spent on everything else.

What is the best credit card with no annual fee?

Our top credit with no annual fee is the Brim Mastercard. You'll earn 1% cash back on all purchases, and get 5 types of insurance coverage.

What's the best credit card for my wallet?

Want to find the best credit card for you? Take our creditcardGenius Challenge. Complete our 3-minute questionnaire, and we'll find the best credit card for you. If you're not convinced, we'll give you $5. If you like our suggestion, you'll be able to refer friends, where you'll earn $5 for each successful referral, up to $25 earned.

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2021's Best Credit Cards In Canada | creditcardGenius

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Discover the best credit cards in Canada for 2021 in 26 different categories. With over 171 cards considered, these cards rose to the top. So if you're looking for a credit card that gives you the most cash back or travel rewards, we got your back.

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Rate Hub.ca

Rate Hub’s websites is Canadian and allows the user to compare various credit cards based on rewards, interest rates and credit scores.

The website does as for personal information as credit cards may offer better incentives with a higher credit score.

I chose this website as I had heard of Rate Hub before and was interested to see how it works. You do have to entre personal information to have the various credit card offers presented online. This website wants your income level and interests. This is a useful website as it provides the user with a list of credit cards that meet your needs and interest levels.

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We help you find better financial products for your specific needs. Whether you need a mortgage, credit card, savings account, or insurance coverage, we get you the information you need to choose better.

How does Ratehub.ca make money?

Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.
read more about us

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Compare the best credit cards in Canada - Ratehub.ca

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We help you find better financial products for your specific needs. Whether you need a mortgage, credit card, savings account, or insurance coverage, we get you the information you need to choose better. How does Ratehub.ca make money? Financial institutions pay us for connecting them with customers.

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https://creditcardgenius.ca/blog/credit-card-benefits-value#9-major-credit-card-benefits-dollar-value

Average Credit Card Perks

I chose this image as it clearly states in a chart form the highest rewards earned by credit card type.  I found this very useful in analyzing which type of rewards are available and how they would impact me personally if I were chose this type of credit card.

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Global News – Morning Show

This video was focused on interviewing a money expert on TV. The interview was focused on comparing the different credit cards and how to choose one. It was interesting as the money expert explained how credit card can offer cash back, loyalty points and or rewards affiliated with other brands or travel companies.

I chose this video as it was very different than the last three as it was based on interviewing a money expert and hearing his perspective. It explained the various reasons as to why you should chose a particular card and the benefits to each type.

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Finding the best credit cards: What you should be looking for | Watch News Videos Online

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Watch Finding the best credit cards: What you should be looking for Video Online, on GlobalNews.ca

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Comparing the Big 5 Banks

This video is focused on the big five banks in Canada and the credit card offers associated with travel rewards. The five banks discussed in this video include TD, RBC, Scotiabank, CIBC, and BMO.  Each of these banks offer different travel credit cards and some are partnered with other travel companies.

I found this video interesting as it explains in detail the benefits of travel reward credit card and how to compare them. This is something I am interested in for my future. This video was different from the others as it was narrated by a Canadian through his own experiences.

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Howcast

This video walks you through a seven-step process of how to choose a credit card. It does  very good job of explaining each step so a consumer will be educated and know what to look for. This video also provides tips in shopping for a credit card.

The reason I choose this video is because it explains the process in step-by-step terms that is easy to follow. It gives tips on how to choose and what to look for based on your individual needs. I find having the actor in the video provides a real life experience while watching the video.

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Money

This video is a great introduction to credit cards and how they work.  It describes the different features of credit cards and how they work. I like the way the video describes how credit cards work and what to look for when selecting a credit card. The graphics in this video were easy to follow and I think it  makes a good relevant introduction for this topic.

I chose this video as it is very easy to watch and understand. It explains the basic differences in the credit cards offered to consumers and what to watch out for. I found the video easy to understand and explained the basic terms of credit cards and their differences.

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My topic is about credit card and the various offers that credit card companies offer to Canadian consumers.
Each credit card has different fees and some have point offerings. I will evaluate 4 different credit cards and explain the value add for each one.