Are you tired of sifting through countless credit card options, unsure of which one is the right fit for you? Look no further! We have researched and compiled a list of the best credit cards in Canada!
So whether you’re a student looking to build your credit, a frequent traveller seeking luxury perks, or a budget-conscious shopper looking to save on everyday purchases, there’s a credit card here for you.
Our list of the best credit cards in Canada includes credit cards with the best rewards programs, the lowest interest rates, and the most enticing welcome offers. From the sleek and stylish to the practical and functional, our list has something for everyone.
Let’s dive in and find your perfect match!
25 Best Credit Cards in Canada for 2024
The question is, what are the best credit cards in Canada? There are over 200 credit cards in Canada, and picking the best credit cards in Canada for your financial needs and goals can be challenging.
Here, we have picked out the 25 best credit cards in Canada that offer low-interest rates, amazing rewards and cashback. Our list of best credit cards in Canada includes top contenders across numerous categories. This will help you find the ideal card for your spending habits and financial goals.
After in-depth research and comparison, we have picked the following as the best credit cards in Canada:
1. American Express Cobalt Card: Overall Best Credit Card in Canada
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $12.99
- Earning Rewards: Earn 5 points per every eligible $1 purchase
- Intro Offer: Up to 30,000 Points
The American Express Cobalt Card is Canada’s overall best credit card. It offers well-rounded and lucrative rewards for everyday spending and travel. This credit card offers 5 points for every $1 eligible purchase. If you earn up 1,000 points, that equals $10.
While this credit card has a 20.99% interest rate and a $12.99 annual fee, it has a wide range of perks and benefits that set it apart from other credit cards.
As a result, the American Express Cobalt Card is also one of our best reward credit cards for everyday spending, perks and young professionals in Canada.
Pros
- Lucrative welcome bonus
- Easy to redeem points for travel, gift cards, merchandise, or other purchases.
- Earn rate for restaurants is higher than other cards
- No fee for additional authorized users
- Strong travel insurance package
- Access to Front of the Line Presale and Reserved tickets
Cons
- Requires monthly fee of $12.99, which sums to an annual fee of $156
- American Express is not widely accepted in Canada
- Travel insurance is limited and doesn’t cover trip cancellation or medical coverage
- No airport lounge access
2. Scotiabank Gold American Express: Best Reward Credit Cards for Everyday Spending
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $120
- Earning Rewards: Earn 5 points per every eligible $1 purchase
- Intro Offer: Up to 45,000 points (worth $450)
The Scotiabank Gold American Express Card is Canada’s best credit card for returns on spending because it offers 5 points for every $1 you spend on groceries, restaurants, entertainment, and food delivery and 3 points for every $1 you spend on gas and transit.
In addition to the 5 points reward on every $1 eligible purchase, this credit card doesn’t charge foreign transaction fees for all foreign currency purchases. Cardholders also enjoy access to a cohesive travel insurance package.
Pros
- No foreign exchange fees for any foreign exchange purchases
- High returns on everyday spending
- The annual fee is waived for the first year
- You enjoy access to VIP airport lounges and concierge services
- Extensive travel insurance coverage
Cons
- Points expire after 12 months
- The annual fee of $120 is expensive
- American Express card is not widely accepted in Canada
3. TD First Class Travel Visa Infinite Card: Best Travel Rewards Credit Cards
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $139
- Intro offer: 150,000 points
- Earning Rewards: 3 points per every $1 eligible purchase.
If you travel frequently, the TD First Class Travel Visa Infinite Card could help you save costs on your spending. This credit card offers 3 points for every $1 purchase and 150,000 points as a welcome bonus. Also, it offers 80,000 points for $1,000 purchases within the first 90 days,
However, you must have an average personal annual income of $60,000 or $100,000 household annual income to use the TD First Class Travel Visa Infinite Card.
Pros
- Includes comprehensive travel insurance
- Excellent welcome offer
- No annual fee for the first year
- Offers Nexus fee credit
- Good earning rate in top spending categories
- Access to exclusive Visa Infinite benefits
Cons
- No airport lounge access
- High minimum annual income—$60,000 personal or $100,000 household annual income
- High annual fee—$139
4. RBC Avion Visa Infinite
- Interest Rate on Purchase: 19.99%
- Annual Fee: $120
- Intro offer: 55,000 points
- Rewards: 1 point for every $1 purchase + 25% cashback extra for all eligible purchases on travel.
The RBC Avion Visa Infinite card is another best travel reward cards in Canada that distinguishes itself with 25% cashback extra on all eligible purchases on travel.
This card offers up to a $7,5015 welcome bonus. This is far more than what most credit cards offer in the industry.
Besides that, the card comes with comprehensive insurance on a mobile device and purchase protection.
Pros
- New cardholders earn up to 55,000 points as a welcome bonus
- Provides excellent travel insurance
- Partnerships with other retailers like HBC and Petro-Canada
- A solid option for looking for a travel-centric points program
Cons
- The $120 annual fee isn’t cheap
- High annual income requirement: Personal: $60,000 or Household: $100,000
- The points-to-dollar ratio is small
5. Brim World Elite Mastercard: Best Credit Card With No Foreign Transaction Fees
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $199
- Earning Rewards: 2% cashback per every $1 purchase.
Brim World Elite Mastercard is one of Canada’s best no-foreign-transaction-fees credit cards, offering 2% cash back for every $1 purchase.
This card lets you earn cashback and easily stack bonus rewards when shopping with over 200 eligible partners. In addition to insurance coverage, this credit card waives the first-year annual fee for new users.
Brim World Elite Mastercard offer complimentary mobile device insurance and free Boing Wi-Fi Membership.
Pros
- The annual fee is waived for the first year as a welcome bonus
- No foreign exchange transaction fees, and this helps you save 2.5% on every foreign purchase
- You can easily redeem rewards in increments of 100 points for $1
- Offers strong travel insurance coverage
- Solid cashback reward rate of 2%
Cons
- The earn rate of 2% is capped at $25,000 annually and thereafter drops to $1
- Personal income requirements of $80,000 is expensive
6. BMO CashBack Mastercard: Best Cashback Mastercard for Students
- Annual Interest Rate on Purchase: 19.99%
- Balance Transfer Rate: 1.99% for the first nine months, 22.99% after.
- Annual Fee: $0
- Earning Rewards: 5% cashback for the first three months
The BMO Cashback Mastercard charges a low balance transfer interest rate of 1.99% for the first nine months and 22.9% after.
Besides that, the BMO Cashback Mastercard offers up to 5% welcome bonus cashback for the initial three months of account opening.
Furthermore, this credit card offers 3% cash back on grocery purchases, 1$ cash back on recurring bills spendings, and 0.5% cash back on all other purchases.
Pros
- No annual fee
- Amazing welcome offer of 5% on purchases for the first three months
- You can redeem rewards for as little as $1
- No income requirement to qualify
- 3% cash back on groceries makes it best for spending categories
- Offers purchase and extended warranty protection
Cons
- 1% cash back on recurring bills is low
- The bonus category is capped at $500
7. Tangerine Money-Back Credit Card: Best Balance Transfer Credit Card
- Annual Interest Rate on Purchase: 19.95%
- Balance Transfer Rate: 0% for 12 months, 12.99% after.
- Annual Fee: $0
- Earning Rewards: 2% Money-Back Rewards per everyday purchase
The Tangerine Money-Back Credit Card charges no balance transfer rate for the initial 12 months but charges 12.99% after. This unique credit card offers 2% unlimited cash-back on everyday purchases in any category you choose and 0.50% cashback on other purchases.
This card allows you to take full advantage and avoid being locked into a category that doesn’t align with your spending habit.
To qualify, you must have an average of $12,000 gross annual income with no bankruptcy history over the past seven years.
Pros
- 2% cash back on every dollar spent on bonus categories
- Flexibility to choose any three bonus categories of your choice and earn 2% cash back
- You can change your bonus categories at any time
- This card is accepted almost everywhere in Canada, including No Frills and Costco
- Free supplementary cards for authorized users
- Extended warranty and purchase protection
Cons
- There is no travel insurance or other benefits
- Only 0.5% cash back on purchases that are not under the categories you choose
8. MBNA True Line Gold Mastercard: Best Low-Interest Credit Cards
- Annual Interest Rate on Purchase: 8.99%
- Annual Fee: $39
- Rewards: N/A
With a $0 annual fee and 0% for balance transfer for the first year, the MBNA True Line Gold Mastercard is Canada’s overall best credit card for low interest on purchases and spending in Canada.
The MBNA True Line Gold Mastercard has a super-low interest rate on purchase and balance transfers that you can’t easily find elsewhere. This card has comprehensive insurance on purchase assurance and extended warranty benefits.
Pros
- No annual fee for the first year
- 10% discount on eligible car rentals at AVIS and Budget
- The low annual interest rate on purchases
Cons
- No rewards
- Limited perks
9. MBNA True Line Mastercard
- Annual Interest Rate on Purchase: 12.99%
- Annual Fee: $0
- Rewards: N/A
The MBNA True Line Mastercard is one of Canada’s best low-interest credit cards in Canada, having 12.99% interest rates on purchase and balance transfers.
While the MBNA True Line Gold Mastercard has a super-low rate on purchase and balance transfers with a $39 annual fee, the MBNA True Line Mastercard has a considerably low rate with no annual fee.
That said, the card offers 12 monthly promotional offers of 0% interest rate on balance transfers.
Pros
- It has a low interest rate of 12.99% that won’t change
- Doesn’t have income requirements to qualify
- No annual fee
- Offers promotional balance transfer of 0% for a full year
Cons
- It is not available to Quebec residents
- Doesn’t offer insurance or other benefits
10. American Express SimplyCash Preferred: Best Overall Cash Back Credit Cards
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $119.88
- Earning Rewards: 4% on gas and groceries and 2% on everything else
The American Express SimplyCash Preferred offers 10% cashback for the initial first month of account opening and 2% cashback after. You earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases.
While you can earn up to $400 cashback through this credit card, be ready to spend $99 for an annual fee and a 19.99% annual interest rate on purchases.
In your first ten months as a new card member, you can earn a $40 statement credit for each monthly billing period when you spend $750 in purchases on your American Express SimplyCash Preferred Card. This adds up to $400 in statement credits for the first ten months.
Pros
- Stellar welcome bonus
- Cheap annual fee of $9.99/month
- More earning rate than other cards
- You can earn from referrals
- Good travel insurance
Cons
- Rebates arrive annually
- American Express is not widely accepted in Canada
- No mobile device insurance
11. CIBC Dividend Visa Infinite Card
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $120
- Cash Back Structure: 4% cash back on gas and groceries. 2% cash back on dining, transportation, and recurring payments. 1% cashback back all other purchases.
The CIBC Dividend Visa Infinite Card stands out with its impressive rewards on everyday purchases. This credit card offers unlimited cash back on gas and groceries, dining, transportation, recurring payments and other purchases.
Also, the card waives the first-year annual fee ($120), helping you save more, and lets you redeem rewards anytime with its CIBC Cash Back on-demand feature. In addition, it offers emergency travel medical and mobile devices.
Pros
- It offers higher rates on everyday spending than most cards
- Access to CIBC’s Pace It program
- The annual fee is waived for the first year through its excellent digital-only welcome bonus feature
- It allows you to redeem your cash back at any time in increments of $25
- Offers access to Visa Infinite Program
Cons
- The annual fee is expensive
- The personal income requirement is too high
- Insurance coverage is not comprehensive
12. Neo Financial Mastercard Essential: Best No-Fee Cash Back Credit Cards
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $0
- Earning Rewards: 5%+ cashback per every eligible purchase.
The Neo Financial Mastercard is one of the best credit cards in Canada, offering competitive cashback. It tops your cashback when it’s below $1 and offers up to 15% cashback as a welcome bonus.
New Neo Financial Mastercard Cardholders receive a $25 Welcome Offer Bonus for signing up and a welcome bonus of up to 15% cash back on their first purchase at most Neo partners.
This credit card offers competitive cashback on all its three plans, as shown in the table below:
Account | Fee | Cashback |
Standard | $0 | 4%+ at Neo partners 1%+ on all other spendings |
Plus | $2.99/month | 5%+ at Neo partners 1%+ on all other spendings |
Ultra | $8.99/month | 6%+ at Neo partners 1%+ on all other spendings |
Pros
- High bonus cashback offers
- Beautiful, user-friendly app
- Cash out your cashback rewards at any time
- Unlimited cashback
- Fully digital platform
Cons
- Best cash back only comes from cafes and restaurants because most Neo partners are cafes and restaurants
- No travel insurance, extended warranty, or other perks
- Cannot cash out your cashback rewards to the Neo Money account
- Low credit limits
13. Home Trust Secured Visa: Best Secured Credit Card For Building Credit
- Annual Interest Rate on Purchase: 19.99%/14.90%
- Annual Fee: $0/$59
The Home Trust Secured Visa is Canada’s overall best-secured card, with two competing versions.
The first version of this card charges 19.99% interest rates on purchases with no annual fee. On the other hand, the second version charges a 14.90% purchase rate with a $59 annual fee.
All these are cost-saving compared to other secured credit cards in the market. However, the Home Trust Secured Visa is not available in Quebec.
Pros
- No annual fee
- No foreign transaction fee
- 1% cash back on all eligible purchases
- Purchase protection
Cons
- No cash back for transactions in foreign currency
- Not available to Quebec residents
14. Refresh Financial Secured Card
- Annual Interest Rate on Purchase: 17.99%
- Annual Fee: $12.95
Refresh Financial Secured Card is one of Canada’s best secured credit cards with a competitive annual interest rate on purchases and fees. This card allows you to use our secured card just like a regular credit card to pay bills or make in-person or online purchases.
You’ll likely build up your credit fast with this card’s 17.99% annual interest rates and $12.95 annual fees.
Pros
- No hard credit check required
- You only have to put $200 on the card to enjoy its full benefits.
- Offers low-interest rates compared to other cards
- Refresh reports all your payments to Equifax and TransUnion.
- Good payments will help you build a solid credit history and a high credit score.
- Approval is almost guaranteed and depends mainly on how much you provide as a deposit.
Cons
- You must pay several fees when you activate your Secured Card and make various transactions.
- Your deposit must be paid in cash and can be a lot of money to pay upfront
- No rewards points or insurance policies are available (balance protection, etc.).
15. TD Aeroplan Visa Infinite: Best Aeroplan Cards
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $139
- Earning Rewards: 1.5 points per eligible $1 purchase
The TD Aeroplan is our overall best Aeroplan credit card in Canada for frequent Air Canada fliers looking for cards to help them earn more on travels. This card is ideal for you if you have an average annual personal income of $60,000 or $100,000 household annual income.
This credit card offers 1.5 points per eligible $1 purchase on gas, groceries, and direct through Air Canada purchases and 1 point per $1 on everything else.
The card charges a $139 annual fee and 19.99% annual interest.
Pros
- Access to Air Canada benefits and perks
- Comprehensive travel insurance benefits
- Up to $100 in Nexus Membership
- You can redeem Aeroplan points for flights on Air Canada
- Offers double points when used with Aeroplan cards at participating retailers
Cons
- The annual fee is expensive compared to other cards
- Aeroplan points can only be redeemed on Air Canada and Star Alliance
16. American Express Aeroplan Reserve
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $599
- Rewards: Variable
The American Express Aeroplan Reserve is one of Canada’s best Aeroplan credit cards. Even though it charges a $599 annual fee, it compensates it with a wide range of rewards, such as 90,000 points welcome bonus, 30,000 for spending $3,000 in the first three months of registration, and 5,000 Aeroplan points for spending up to $1,00 worth of monthly billing in the first year of membership.
Pros
- Elevated earn rates on Air Canada purchases.
- Comprehensive travel insurance coverage.
- Priority boarding privileges and access to airport lounges.
Cons
- A higher-than-average annual fee.
- Low earn rates on everyday purchases and non-Air Canada flights.
17. BMO Air Miles World Elite Mastercard
Best Air Miles Credit Cards
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $120
- Intro offer: 2000 Air Miles
- Earning Rewards: 1 mile per every $12 spent on a credit card and 3 miles per every $12 eligible purchase.
Get 1 mile for every $12 purchase on a credit card and 3 miles for a $12 eligible purchase through the BMO Air Miles World Elite Mastercard.
In addition to a 15% discount on all AIR MILES flights in North America, the BMO Air Miles World Elite Mastercard waives your first-year annual fee when you allow pop-up information and reach 2,000 AIR Miles Bonus Miles.
That said, you must have an average of $80,000 annual personal income or $150,000 household annual income to qualify for this credit card.
Pros
- Offers travel insurance coverage
- You can earn up to 750 Bonus Miles annually if you book your first flight or vacation package with Dream Miles.
- You can earn Air Miles when you refer a friend
- Lucrative welcome bonus
- Stellar earn rates for everyday purchases
- Front-of-the-line access to concerts and events
18. American Express AIR MILES Platinum Credit Card
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $120
- Intro Offer: $340
- Earning Rewards: 1 mile per $5 spent on food and drink, gas, and local transit; 1 mile per $10 spent elsewhere
The American Express AIR MILES Platinum Credit Card is Canada’s overall best air miles credit card. This card offers 2,000 bonus miles for spending $1,500 in your initial three months.
Besides that, it offers 1 mile per $5 spent on food and drink, gas, and local transit, and 1 mile per $10 spent elsewhere.
Pros
- Generous welcome bonus
- Allows you to authorise up to 9 users on your account
- Offers travel insurance
- Offers exclusive perks like access to airport lounges, early access to tickets for concerts and events, and special discount on flights and hotels.
Cons
- The annual fee of $120 may not be worth it if you don’t spend a lot
- American Express is not widely accepted
- AIR MILES can only be redeemed for flights, hotel stays, car rentals, and merchandise.
- The interest rate is higher than other cards in Canada
19. Marriott Bonvoy Brilliant American Express: Best Hotel Cards
- Annual Interest Rate on Purchase: 19.49% to 28.49%
- Intro offer: 150,000 points
- Annual Fee: $650
- Rewards: Variable
The Marriott Bonvoy Brilliant American Express is Canada’s best hotel credit card due to its competitive interest rates.
While it charges a $650 annual fee, you can save more with this card due to its wide range of rewards. Over, you will earn up to 150,000 points within your first three months of membership.
Furthermore, this card offers 6 points for all eligible purchases at partner hotels, 3 points for direct flight booking with airlines, 3 points for dining at U.S. restaurants, and 2 points for every eligible $1 purchase.
Pros
- Offers cardholder access to dedicated tickets
- Access to the most talked about events
- 70,000 hotels on this loyalty program worldwide
Cons
- Annual fee is too expensive
20. Best Western Rewards Mastercard
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $0
- Rewards: 5 points for every eligible $1 purchase at Best Western properties; 1 point for every other $1 eligible purchase.
The Best Western Rewards Mastercard is our runner-up best hotel credit card in Canada due to its competitive rewards and no annual fee.
This card offers 20,000 points for an initial eligible purchase. This is equal to the cost of a one-night lodge.
Pros
- No annual fee
- Luxury perks
- New cardholder bonus offer
Cons
- No 0% intro APR
- Low rewards rate
- Rewards have limited flexibility
21. American Express Platinum Card: Best Card for Perks
- Annual Interest Rate on Purchase: 15.99% to 22.99%
- Annual Fee: $695
- Intro Offer: 80,000 points
- Rewards: 3 points on food purchases, 3 points on travel, 1 point on everything else.
The American Express Platinum Card is our overall best credit card for perks in Canada due to its competitive interest rates and wide range of rewards.
Though the card has very high annual fees, its benefits and perks make it worthwhile. The card offers 3 points on every dollar spent on eligible purchases on dining and food delivery in Canada, 2 points for every dollar spent on travel, and 1 point on every dollar spent on everything else.
Cardholders enjoy extra benefits, including a dedicated concierge line, annual 4200 travel credit, and complimentary airport lounge access with unlimited passes to Priority Pass and Centurion lounges.
Furthermore, this card offers access to discounts on your first International trip.
Pros
- No income requirement
- 3 points per dollar spent on eligible dining and food delivery, and 2 points per dollar spent on travel
- It offers a very lucrative welcome bonus of 80,000 points
- Offers excellent travel insurance packages
Cons
- Has a very high annual fee of $699
- American Express is not widely accepted in Canada
22. Signature RBC Rewards Visa
- Interest Rate on Purchase Rate: 19.99%
- Annual Fee: $39 (no fee for students)
- Intro Offer: $65
- Rewards: 1 point for every $1 purchase + bonus point for purchases at eligible retailers
The Signature RBC Rewards Visa is our runner-up best student credit card, following the BMO Cashback Mastercard for Students.
This card offers 1 point for every $1 purchase plus bonus points for purchases at eligible retailers. It also offers comprehensive insurance, purchase security, extended warranty, and car rental.
Pros
- Earn like you’ve got a premium rewards card
- Loads of rewards choices
- Save and Earn Faster with RBC Offers
- Redeem your points for gift cards, merchandise, travel rewards, and RBC Financial Rewards vouchers.
- Use their online tool to book travel instantly
- Easy to book travel
23. PC Financial World Elite Mastercard: Best Family Credit Card for Gas and Groceries
- Annual Interest Rate on Purchase: 20.97%
- Annual Fee: $0
- Rewards: 30 points on every $1 eligible purchase and 10 points for all other $1 purchases.
The PC Financial World Elite Mastercard is Canada’s best family credit card for gas and groceries. This card offers 30 points on every $1 eligible purchase and 10 points for all other $1 purchases.
Furthermore, the card offers comprehensive insurance on travel emergency medical insurance in addition to purchase protection and an extended warranty.
Pros
- Offers a user-friendly app
- Stellar bonus PC reward points for all purchases made at President Choice partners
- No annual fee
Cons
- Bonus points can only be redeemed at participating stores
- The interest rate is slightly higher than other cards
- High-income requirements
24. Walmart Mastercards
- Annual Interest Rate on Purchase: 19.89%
- Annual Fee: $0
- Intro offer: $25 welcome bonus
- Rewards: Variable
This is one of Canada’s best family credit cards for gas and groceries in Canada. Walmart Mastercards are divided into Walmart Rewards World Mastercard and Walmart Rewards Mastercard.
The Walmart Rewards World Mastercard offers 3% for purchases at Walmart.ca, 25% for purchases at gas stations, 25% for purchases at Walmart stores in Canada, and 1% for purchases everywhere else.
On the other hand, the Walmart Rewards Mastercard offers 25% for purchases at Walmart.ca and Walmart stores, 1% for purchases at gas stations, and 1% for purchases everywhere else.
Pros
- No annual fees
- $25 welcome bonus
- Lucrative cashback rewards
Cons
- No insurance coverage
- You can only redeem your rewards at Walmart stores
25. Scotia Momentum Visa Infinite: Best Credit Cards for Young Professionals
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $120
- Earning Rewards: 4% cashback for every $1 groceries and recurring spending, 2% for every $1 gas and daily transit spending, and 1% for all other purchases.
The Scotia Momentum Visa Infinite is our runner-up best credit card for your professionals in Canada due to its competitive reward structure. The card helps rising households offset their daily expenses.
In addition to New Mobile Device Insurance, the Scotia Momentum Visa Infinite offers Travel Insurance and waives the first-year annual fee for new users.
To qualify, you must have an average annual personal income of $60,000 or a household average annual income of $100,000 or $250,000 average assets under management.
Pros
- Offers strong travel insurance coverage
- The annual fee is waived for the first year
- High reward rates for groceries and gas compared to most cards
Cons
- The 4% and 2% reward categories are capped at $25,000 annually and drop to 1% thereafter.
How We Reviewed the Best Credit Cards in Canada
At the heart of our review process for the best credit cards in Canada were consumers’ needs and preferences. We carefully analysed a wide range of credit cards in the Canadian market to identify the key features and benefits that are most important to cardholders.
Here are the factors we considered when evaluating the best credit cards in Canada.
- Interest Rate: While most of the above credit cards have the common 19.99% interest rate on purchases and cash advances, most offer additional values in the form of rewards and low fees.
- Fees: Some of the above credit cards have no annual fees, while others have low fees. This helps you save more money from your everyday spending.
- Rewards: Most of the above credit cards offer competitive rewards you can’t easily find elsewhere.
- Perks and Benefits: The above credit cards have varying perks and benefits, from purchase assurance and extended warranty to mobile device protection.
RELATED: 9 Best CashBack Credit Cards in Canada
How to Choose the Best Credit Card For Your Needs
Choosing the best credit card for your needs can be daunting, but it doesn’t have to be. Here are some tips to help you navigate the world of credit cards and find the one that’s right for you:
- Consider your spending habits: Consider how you typically use your credit card. Do you use it for everyday purchases like groceries and gas? Or do you use it for bigger purchases like travel or home renovations? Look for a card that offers rewards or cashback on the purchases you make most often.
- Check the fees: Credit cards can come with annual fees, balance transfer fees, foreign transaction fees, and more. Ensure you understand all the fees associated with a card before applying.
- Compare rewards programs: Some credit cards offer rewards points that can be redeemed for travel, merchandise, or cash back. Others offer statement credits or discounts on certain purchases. Compare the rewards programs of different cards to find one that suits your needs.
- Look at the interest rate: If you plan to carry a balance on your credit card, look for a card with a low-interest rate. Remember that some cards offer an introductory 0% APR for a limited time, so take advantage of that if you can.
- Consider the issuer: Some credit card issuers offer better customer service, fraud protection, and other benefits than others. Research the reputation of the issuer before you apply for a card.
Final Thoughts on the Best Credit Cards in Canada
So there you have it! The best credit cards in Canada, all in one place. These cards have got you covered, from earning cashback on your everyday purchases to flying first-class to your dream destination.
But before you rush off to apply, remember to read the fine print, consider your spending habits and financial goals, and make an informed decision. And don’t forget to check back regularly, as new cards and offers are always popping up on the market.
So go ahead, take the first step towards financial freedom and apply for the credit card that suits you best. Your wallet (and bank account) will thank you!
