Compare credit cards in Canada

Compare more than 35 credit cards in Canada, and get expert guides from Finder's credit card journalists.

Use our credit card comparison tool to narrow down a selection of cards that meet your needs, the benefits that you want and the cards you're most likely to qualify for.
1 - 5 of 40
Product CACCF Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC Cash Back Mastercard image
Up to 7% cash back
Up to 2% cash back
20.99%
$0
Min. recommended credit score: 650
Get up to 7% cash back in the first 3 months on up to $1,000 in total purchases. Get up to 5% bonus cash back up to $1,000 spend for all purchases, plus 2% cash back on groceries and 0.5% on all other purchases. Apply by July 8, 2025
Neo Credit Mastercard image
N/A
An average of 5% cash back
19.99% - 29.99%
$0
Min. recommended credit score: 640
Earn cashback at a rate that grows with your Neo Everyday Account balance, and get an average of 5% cash back at 10,000+ retail partners.
RBC ION Visa image
7,000 points
1.5 points per $1 spent
20.99%
$0
Min. recommended credit score: 660
Get 7,000 Avion points when you get approved for the card.
American Express Cobalt Card image
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.
BMO CashBack Mastercard image
5% cash back
Up to 3% cash back
21.99%
$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.
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Find some of the terms in this table confusing? Jump down to our glossary to learn about key features and how to compare credit cards.

What is a credit card?

A credit card lets you spend money that you can pay back over time, usually with interest.

Unlike a debit card—where you need money in the bank—a credit card gives you a set amount you can spend (or borrow) known as your credit limit. You also get regular statements (usually monthly) with a due date by which you need to make repayments.

In Canada, you must be at least the age of majority in your province or territory (18 or 19 years old) to apply for a credit card in your name.

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Our expert says

"When comparing credit cards, decide what’s most important to you. Is it a low interest rate? Low annual fee? Bonus frequent flyer points? Maybe a balance transfer deal? For instance, I pay my balance in full each month, so I ignore the interest rates and don’t look at balance transfer offers. Instead, I aim to find cards with a great points earning rate. Knowing exactly what you want, makes it easier to find the right card for you."

Senior editor

What types of credit cards are there?

There are five main types of credit cards. Every card is slightly different, so you should compare credit cards to find the best credit card that has the features that matter to you.

Card typePrincipal useProsCons
Pay off existing debt with no/low interest
Save money on interest and pay down debt faster
Minimal perks and no interest-free days on new purchases
Earn points on your spending
Get rewarded for money you’d spend anyway
High interest rates & annual fees
Credit without an upfront cost
Costs nothing if you pay it off in full or don’t use it at all
Minimal perks and higher interest rates
Pay off purchases over time while paying less interest
Saves you money if you carry a balance from month to month
Minimal perks
Managing cash flow and separating spending
Offer distinct features for business (like accounting feeds)
Stricter eligibility requirements

How to compare credit cards

Here’s a breakdown of features and charges you should look at when doing a credit card comparison.

  1. Find the right type of card. Want Aeroplan Points? Get a frequent flyer card that lets you earn points when you spend. Need a simple, cheap card for everyday spending? Look at low rate or no annual fee cards.
  2. Look at the purchase rate. Credit cards charge high interest rates—but only if you don’t pay the card off on time.
  3. Don’t forget the annual fee. Most cards charge a yearly fee. It can be as low as $0 or as high as $400+ for a fancy card with lots of perks and benefits.
  4. Count your interest-free days. One of the best features of credit cards, interest-free “grace periods” let you buy something today and pay no interest for at least 21 days (the details are a little complicated, though).
  5. Look at all the perks and benefits the card offers. Some credit cards give you rewards points or frequent flyer points, purchase protection, complimentary travel insurance, cashback on your spending or other rewards. The more perks a card offers, the higher the annual fee. So, if you don’t use them, you’re wasting money.

Credit cards 101

There are plenty of confusing terms in credit card land. Here’s a quick explainer:

  • Balance transfer rate. The interest rate you’ll pay if you transfer a balance from one card to another. Some introductory offers give you 0% APR on your balance for a limited time, but you may pay a one-time fee.
  • Cash advances. Try not to withdraw cash from an ATM or use your card to gamble or buy foreign currencies. These transactions are considered cash advances, and they come with a fee plus a higher interest rate (which you get charged immediately).
  • Credit card network. The payment system that processes all your credit card transactions. In Canada, most cards are either Visa, Mastercard or American Express.
  • Foreign transaction fees. This is the fee you’ll be charged on purchases made in a foreign currency overseas or online. Some cards have 0% foreign fees.
  • Minimum repayment. You can repay all your card spending each month. Or, you can pay it off slowly (and get charged interest). The minimum repayment is the lowest amount you must pay by the due date. Miss this, and you’ll get charged a fee.
Angel Zhong's headshot
Expert insight: Why credit card records matter

"Maintaining these records helps you track your spending, verify transactions and catch any errors or fraudulent activities promptly. They are also useful for budgeting, filing taxes and providing proof of purchase or payment if disputes arise. Keeping organized and accessible records of your statements, whether in digital or paper form, ensures you have a comprehensive financial history that can be referenced whenever necessary."

Professor, RMIT

Pros & cons of credit cards

Pros

  • Flexibility. If you have a big purchase to make, a credit card can be a financial buffer, letting you buy it and then repay it over time. If it’s used wisely, it can be interest free.
  • Convenience. Credit cards allow you to buy what you need, when you need it. You can use them to shop in-store, online and overseas with security features to protect against fraud.
  • Rewards. Everyone loves perks. A credit card can help you get frequent flyer points, cashback on your groceries, flight upgrades or even gift cards.

Cons

  • Debt. Credit card interest adds up quickly if you don’t pay your balance on time, which could cost you hundreds (or thousands) of dollars and take a long time to pay back.
  • Can be expensive. The average interest rate for a Canadian credit card is between 19.99% and 25.99%, according to RBC. In comparison, the average interest rate for a personal loan is 9.32%.
  • Sneaky fees and surcharges. Beware of fees for going over your credit limit, making late payments, withdrawing cash from your card, making purchases in foreign currencies and more.

Bottom line? Credit cards have a mix of great perks and understandable risks. A good rule of thumb is to compare credit cards to ensure you get one with the features you need, while having a plan for paying it off and using the benefits.

Have questions about credit cards? We have answers

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Find a credit card company in Canada

Looking for a new credit card? Choose from this list of credit card companies in Canada. Read our reviews of banks like Scotiabank and Tangerine, networks like American Express and more.

Featured credit card articles

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To make sure you get accurate and helpful information, this guide has been edited by Stacie Hurst as part of our fact-checking process.
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Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for the last 5 years. He has written for Yahoo Finance, Money Magazine and Homely and regularly provides financial commentary in print and radio. Richard enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. He also has a mortgage of his own. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea. See full bio

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Co-written by

Editor

Amy Bradney-George is an SEO Writer and Subeditor at Are Media and former acting editor for Finder X and a senior writer for credit cards and Finder Green. She has more than 13 years' experience as a journalist and writer, with bylines in publications including The Equity Magazine, The Sydney Morning Herald, ABC News and produce industry website FreshPlaza. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not putting (virtual) pen to paper, she spends her time as an actress. See full bio

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