
The Best Credit Cards in Canada
Choosing the best credit card in Canada depends on your spending habits, lifestyle, and financial priorities. Whether you’re looking for cashback, travel perks, or low fees, there are excellent options to consider.
One popular choice is the BMO CashBack World Elite Mastercard, ideal for those who value cashback rewards. This card offers up to 5% cashback on groceries and 4% on transit purchases, along with additional perks like travel insurance and roadside assistance. However, it comes with an annual fee, which is something to consider if you’re on a budget.
The American Express Cobalt® Card is another excellent option, especially for foodies and travelers. It provides 5 points per dollar spent on eligible dining and drinks and 2 points per dollar on travel and transit. The card features flexible redemption options and has a manageable monthly fee, making it a strong contender for frequent spenders.
For frequent travelers, the Scotiabank Passport™ Visa Infinite Card* stands out. It offers no foreign transaction fees, 2 points per dollar on groceries, dining, entertainment, and transit, and comes with perks like airport lounge access and comprehensive travel insurance. Although it has an annual fee, the benefits often outweigh the cost for those who travel regularly.
If you prefer a no-annual-fee option, the Simplii Financial Cash Back Visa Card is a great pick. It provides 4% cashback on restaurant, bar, and coffee shop purchases, 1.5% on gas, groceries, and drugstore purchases, and 0.5% on all other transactions. This card is ideal for those looking for straightforward rewards without any added costs.
Finally, the Scotiabank® Platinum American Express® Card* caters to those seeking a premium experience. With a low interest rate and valuable rewards points, it also includes extensive travel insurance benefits. While the annual fee is higher than most, the value provided can be significant for frequent travelers and big spenders.
When selecting a credit card, evaluate factors like annual fees, reward structures, interest rates, and extra perks. Aligning your choice with your financial needs and lifestyle ensures you get the most out of your card.