Best credit cards in Canada

Best for

Low Rate

Scotiabank Value Visa Card

Best for

Rewards

American Express Cobalt Card

Best for

No Annual Fee

Tangerine World Mastercard

Best for

Balance Transfer

BMO CashBack Mastercard

Looking for the best credit card in Canada? The reality is that the “best” will depend on your spending habits and your finances – including your credit score and income. But you can find the right credit card for your needs by identifying the features you want, your spending habits and your financial history. To help you find the best credit card, we’ve narrowed down a few of our top picks below.

Compare more of the best credit cards in Canada

Best credit card for low interest rate:
Scotiabank Value Visa Card

Credit recommended (670-) Apply now on Scotiabank's secure site

670
Min. credit score

$29 ongoing
Annual fee

Up to x
N/A

Welcome offer

• Pros & Cons
• Info
• Details

The Scotiabank Value Visa Card comes with a low annual fee of $29, a low interest rate of 13.99% and rewards for recreational spending. Get an on-going low interest rate of 13.99% on eligible purchases. You'll also get a nice sign up bonus. Get a 0% introductory interest rate on balance transfers for the first 10 months. Plus, pay no annual fee in the first year. Apply by January 2, 2025.

• Low interest rate. The Scotiabank Value Visa Card comes with a standard low interest rate of 13.99%.
• Signup Bonus. Get a 0% introductory interest rate on balance transfers for the first 10 months. Plus, pay no annual fee in the first year. Apply by January 2, 2025.
• Save on car rentals. Get up to a 25% discount at participating Budget and AVIS car rental locations in Canada and the US.
• Balance transfer fee. You'll have to pay the standard 13.99% interest rate on balance transfers, but unlike other cards, the balance transfer fee is 0%.

• Annual fee. The annual fee for this card is $29.
• No insurance coverage.

Annual Fee	$0 intro annual fee for the first year ($29 thereafter)
Purchase APR	13.99%
Cash Advance Rate	13.99%
Balance transfer APR	0% intro for the first 10 months (then 13.99% )
Welcome offer	Get a 0% introductory interest rate on balance transfers for the first 10 months. Plus, pay no annual fee in the first year. Apply by January 2, 2025.
Rewards	Get an on-going low interest rate of 13.99% on eligible purchases.

Best credit card for entertainment:
Scotiabank SCENE+ Visa Card

Credit recommended (660-) Apply now on Scotiabank's secure site

660
Min. credit score

$0
Annual fee

Up to 2x
Points

7,500
Points welcome offer

• Pros & Cons
• Info
• Details

If you've have no credit history and are looking for a rewards card with a $0 annual fee, the Scotiabank SCENE+ Visa Card is worth taking a look at – especially if you're a big movie buff. Earn 2 Scene+ points on every $1 you spend at Cineplex theatres, cineplex.com, Home Hardware and participating grocery stores like Sobeys, Safeway, FreshCo and Foodland & Participating Co-ops. Earn 1 Scene+ point per $1 spent on all other eligible purchases. Redeem your SCENE points for movie tickets or take advantage of discounts at participating restaurants.

• Annual fee. This card has a $0 annual fee.
• Rewards points. Earn 2 Scene+ points on every $1 you spend at Cineplex theatres, cineplex.com, Home Hardware and participating grocery stores like Sobeys, Safeway, FreshCo and Foodland & Participating Co-ops. Earn 1 Scene+ point per $1 spent on all other eligible purchases. Redeem points for free movies and discounts at participating restaurants.
• Additional cardholders. Pay $0 to add another authorized user to your account, so you can rack up points faster.
• Earn more. Earn up to 7,500 Scene+ points in the first 3 months. Apply by March 2, 2025.
• Rental cars. Get a discount of up to 25% off at participating Budget and Avis car rental locations in Canada and the US..
• Extra insurance available. Optional insurance is available for a fee to help pay your balance in the event of death, critical illness, hospitalization, disability, job loss, strikes or lockouts. Depending on the type of coverage, your balance or repayments could be covered up to a maximum of $10,000 per month or $50,000. Terms apply.

• Missed payment fee. You'll be charged a rate on any missed payments.
• Foreign conversion fee. Every time you charge a purchase to your card in a foreign currency, you'll incur a 2.5% fee.

Annual Fee	$0
Purchase APR	20.99%
Cash Advance Rate	22.99%
Balance transfer APR	22.99%
Welcome offer	Earn up to 7,500 Scene+ points in the first 3 months. Apply by March 2, 2025.
Rewards	Earn 2 Scene+ points on every $1 you spend at Cineplex theatres, cineplex.com, Home Hardware and participating grocery stores like Sobeys, Safeway, FreshCo and Foodland & Participating Co-ops. Earn 1 Scene+ point per $1 spent on all other eligible purchases.

Best credit card for no annual fee:
Tangerine World Mastercard

Credit recommended (600-) Apply now on Tangerine's secure site

600
Min. credit score

$0
Annual fee

6 months
1.95% intro transfer APR

Up to 2%
Cash back

• Pros & Cons
• Info
• Details

If you're looking for a $0 annual fee credit card with unlimited cash back rewards and a competitive balance transfer offer, then the Tangerine World Mastercard could be right for you. Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply.

• Annual fee. This card has a $0 annual fee.
• Earn rewards. Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply.
• Earn even more. You can unlock cashback offers while travelling outside of Canada and get rebates which you can apply to your statement with Mastercard Travel Rewards by using your card at select merchants.
• Balance transfer. Get a 1.95% interest rate on balance transfers for the first six months. You must request a balance transfer within 30 days of approval and activate your card within 45 days of approval. A 1% fee applies (waived for Quebec residents). Other terms and conditions apply.
• Travel perks. Enjoy exclusive dining, retail and spa offers in over 650 airports worldwide with a complimentary Mastercard Travel Pass provided by DragonPass. Get free car rental insurance, and access over 1,300 airport lounges for $32 USD per visit. Stay connected with access to more than 1 million Wi-Fi hotspots globally through Boingo.

• Minimum income requirement. You need a minimum personal income of $50,000 or a combined household income of at least $80,000 to apply for this card.
• Foreign transaction fee. You'll face a foreign transaction fee of 2.5% every time you use your card overseas or online with international retailers.
• Limited travel benefits. Though this card offers some nice travel perks, it doesn't come with many of the travel benefits offered by more premium credit cards such as complimentary travel insurance, free flight and hotel upgrades and discounted car rentals.

Annual fee	$0
Purchase APR	20.95%
Balance transfer APR	1.95% intro for the first 6 months (then 19.95% )
Balance transfer fee	$5 or 3% of the transaction, whichever is greater
Rewards	Earn unlimited 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and unlimited 0.5% cash back on everything else. Conditions apply.

Best credit card for earning rewards:
Scotiabank Gold American Express Card

Credit recommended (700-) Apply now on Scotiabank's secure site

700
Min. credit score

$120 ongoing
Annual fee

Up to 6x
Points

45,000
Points welcome offer

• Pros & Cons
• Info
• Details

The Scotiabank Gold American Express Card is a powerful everyday credit card as well as a strong travel companion. Earn 6 Scene+ points for every $1 you spend in Canada at Sobeys, Safeway, FreshCo, Foodland and more, 5 Scene+ points per $1 spent on eligible grocery, dining and entertainment purchases, 3 Scene+ points per $1 spent on eligible gas, transportation and select streaming services, and 1 Scene+ point per $1 spent on eligible purchases elsewhere. Book and redeem any flight for any time through Scotia Rewards Travel Service, a full-service travel agency. Plus, take advantage of the Best Price Guarantee on airfare. Plus, enjoy peace of mind with a broad array of travel insurance options.

• Bonus rewards. Earn up to 45,000 bonus Scene+ points and get the first annual fee waived (that's up to $950 towards travel). Apply by January 2, 2025. To qualify for the 40,000 bonus Scene+ points offer, earn 25,000 bonus Scene+ points by making at least $1,000 in purchases in your first 3 months. Plus, earn a 20,000 Scene+ point bonus when you spend at least $7,500 in purchases in your first year.
• Earn rewards. Earn 6 Scene+ points for every $1 you spend in Canada at Sobeys, Safeway, FreshCo, Foodland and more, 5 Scene+ points per $1 spent on eligible grocery, dining and entertainment purchases, 3 Scene+ points per $1 spent on eligible gas, transportation and select streaming services, and 1 Scene+ point per $1 spent on eligible purchases elsewhere.
• Currency conversion. This card comes with a 2.5% foreign transaction fee.
• Travel coverage. Enjoy peace of mind with a broad array of travel insurance options including Emergency Medical, Travel Accident, Trip Cancellation and Interruption, Flight Delay, Delayed or Lost Baggage and Rental Car Collision Loss/Damage.

• Annual fee. This card has an annual fee of $120.
• Minimum income requirement. You'll need to earn a minimum income of $12,000 a year to be eligible for this card.

Annual Fee	$0 intro annual fee for the first year ($120 thereafter)
Purchase APR	20.99%
Cash Advance Rate	22.99%
Balance transfer APR	22.99%
Welcome offer	Earn up to 45,000 bonus Scene+ points and get the first annual fee waived (that's up to $950 towards travel). Apply by January 2, 2025. To qualify for the 40,000 bonus Scene+ points offer, earn 25,000 bonus Scene+ points by making at least $1,000 in purchases in your first 3 months. Plus, earn a 20,000 Scene+ point bonus when you spend at least $7,500 in purchases in your first year.
Rewards	Earn 6 Scene+ points for every $1 you spend in Canada at Sobeys, Safeway, FreshCo, Foodland and more, 5 Scene+ points per $1 spent on eligible grocery, dining and entertainment purchases, 3 Scene+ points per $1 spent on eligible gas, transportation and select streaming services, and 1 Scene+ point per $1 spent on eligible purchases elsewhere.

Best travel credit card:
American Express Cobalt Card

Credit recommended (700-) Apply now on American Express's secure site

700
Min. credit score

$155.88
Annual fee

Up to 5x
Membership Rewards

15,000
Welcome offer

• Pros & Cons
• Info
• Details

The American Express Cobalt Card offers a generous return on points for everyday purchases. You can collect points for every dollar you spend on dining out plus 2 points for gas and transit purchases, 2 points on travel and 1 point for everything else. This card also comes with up to a 15,000 points welcome bonus if you spend a certain amount of money each month. You'll also get a full suite of travel insurance and purchase protection when you sign up.

• Earn rewards. Earn 5x the points on eligible groceries, dining, drinks and food delivery in Canada (spend cap applies), 3x the points on eligible streaming subscriptions, 2x points on eligible ride shares, transit & gas, 1 extra point per dollar spent on eligible hotel and car rental bookings via American Express Travel Online and 1 point for every other dollar spent.
• Signup bonus. Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
• Protection. Enjoy peace of mind with complimentary protection against fraudulent charges to your card. Additionally, items charged to your card will be covered against theft and accidental physical damage, plus the original manufacturer's warranty will be extended by up to one additional year. Terms and conditions apply.
• Travel coverage. Get up to $5,000,000 in emergency medical coverage plus coverage for travel accidents, lost or stolen baggage, car rental theft and damage, flight delays and hotelburglary.

• Annual fee. You'll have to pay $155.88 per year to maintain this card.
• Currency conversion. You'll be charged a currency conversion rate of 2.5% when you spend overseas.
• Missed payment penalty. Missed payments will be charged a penalty interest rate of 25.99% - 28.99%.

Annual Fee	$155.88
Purchase APR	21.99%
Cash Advance Rate	21.99%
Balance transfer APR	N/A
Welcome offer	Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.
Rewards	Earn 5x the points on eligible groceries, dining, drinks and food delivery in Canada (spend cap applies), 3x the points on eligible streaming subscriptions, 2x points on eligible ride shares, transit & gas, 1 extra point per dollar spent on eligible hotel and car rental bookings via American Express Travel Online and 1 point for every other dollar spent.

• How we chose the best credit cards in Canada

  We’ve chosen the credit cards on this page based on the providers available through Finder. These cards are not representative of the entire market. Our top credit cards generally offer a high value of rewards points, miles or cash back, exclusive perks such as comprehensive travel insurance coverage, a signup bonus and many other benefits. We’ve also considered annual fees, interest rates, any penalty interest rates, minimum income requirements and more factors.

  Some cards that were chosen as a best pick for one category may also be contenders as best picks for other categories. But in order to give you a variety of options, wherever possible we avoided listing the same card multiple times on our list.

  No single credit card will be the best choice for everyone, so compare your options before picking your new card.

How to compare the best credit cards in Canada

To help you find the best credit card for you, there are a few factors to consider when you compare credit cards and your various options.

• Your income. This is one of the biggest factors as credit card providers want to know you’re able to pay back your debt. Generally speaking, the higher your income (not necessarily from employment), the more likely you are to get approved. Use our credit card limit calculator here to help you choose.
• Your credit score. Your credit score will play a big role in the type of credit cards available to you. The higher your credit score, the better the terms and rates that you’ll get. A score of 650 is often considered the “magic number” to get approved for a standard credit card.
• Your age. You need to be at least 18 (or the age of majority in your province or territory) to apply for a credit card. If you’re young, you’re likely to have a limited credit history. You could consider student credit cards that will improve your credit score over time and qualify you for better deals.
• Your personal interests. Some credit cards offer rewards that may compliment your lifestyle and interests. If you travel overseas, an Air Miles, Aeroplan or travel credit card might be a good choice. If you frequently buy gas at a specific gas station, you could take advantage of a credit card that offers discounts.
• Your financial situation. It’s not ideal to get credit cards just to fill the gap between income and expenses. Debt from credit cards can spiral out of control if the outstanding balance is not paid back regularly. Credit cards should instead be used to help you achieve your financial goals. For example, if you need to make a big purchase that you want to pay off over time, low purchase interest credit cards could help you do this without having to pay extra in interest.

Compare credit cards

1 - 6 of 6

Product CACCF	Welcome Offer	Rewards	Purchase Interest Rate	Annual Fee	Min. Credit Score	Description
BMO CashBack Mastercard	5% cash back	Up to 3% cash back	20.99%	$0	Min. recommended credit score: 660	Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Go to siteMore Info Compare	loading Fetching your data...
Neo Credit Mastercard	Get $25.00 + up to 15% cash back	Up to 5% cash back	19.99% - 29.99%	$0	Min. recommended credit score: 640	Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at partner stores and at least 1% cashback guaranteed.	Go to siteMore Info Compare	loading Fetching your data...
American Express Cobalt Card	15,000 points	Up to 5x points per $1 spent	21.99%	$155.88	Min. recommended credit score: 700	Earn up to 15,000 Membership Rewards points in your first year. Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases. That’s up to $150 towards a weekend getaway or concert tickets.	Go to siteMore Info Compare	loading Fetching your data...
Tangerine Money-Back Credit Card	10% cash back	Up to 2% cash back	20.95%	$0	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until January 31, 2025. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Go to siteMore Info Compare	loading Fetching your data...
BMO Preferred Rate Mastercard	0.99% rate on balance transfers for 9 months	N/A	13.99%	$0 annual fee for the first year ($29 thereafter)	Min. recommended credit score: 660	Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived by your first anniversary.	Go to siteMore Info Compare	loading Fetching your data...
Tangerine World Mastercard	10% cash back	Up to 2% cash back	20.95%	$0	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until January 31, 2025. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Go to siteMore Info Compare	loading Fetching your data...

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Best credit card FAQs

• What's the best credit card in Canada?

  The best credit card for you depends on your financial needs and what type of credit card you're looking for. To review all the winners of the Finder Credit Card Awards for best credit cards by category, click on on our guide here.

• What's the best way to apply for a credit card in Canada?

  To apply for any of the cards you see on this page, click the green 'Apply now' button beneath the card image you're interested in. Fill out the application on the provider's website, and you should receive an answer on your application within a few minutes to a few days.

• What does my credit score need to be before I apply for a credit card?

  Required credit scores can vary. Typically, however, you'll qualify for most cards with a good or excellent score of 650 or higher. If you have fair credit of 659 or lower, you can read our guide on credit cards for fair credit here to explore your options. If you have bad or nonexistent credit, you may be limited to secured cards. These require initial deposits but will help you build your credit as long as you make timely payments.

• Should I get a basic or premium credit card?

  Basic credit cards tend to come with minimal features, such as low interest rates, a $0 annual fee and little to no additional features. These types of cards are suited to people who don't intend to use their credit card often or who don't qualify for higher-end cards. Basic cards make it easier to manage debt since they often come with lower interest rates and fewer reward options so you won't be tempted to spend unnecessarily.

  On the other hand, premium credit cards such as gold and platinum cards come with more features and reward perks, like travel rewards, insurance and purchase protection. But since these cards usually have higher annual fees and interest rates, you'll want to make sure you plan to use the card and pay it off regularly enough to justify the higher cost.

• How much are points and miles worth?

  Loyalty program points and miles tend to change in value based on how you spend them and the individual program.

Written by

Emma Balmforth

Producer

Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog. See full bio