9 Best Credit Cards in Canada

Earning Structure:

• 3x Scene+ points per CAD $1 at Sobeys, Safeway, IGA, Foodland, participating Co-ops, and more
• 2x Scene+ points per CAD $1 at other eligible grocery stores, dining, entertainment, and daily transit (including rideshares, buses, subways, taxis)
• 1x Scene+ point per CAD $1 on all other purchases
• Up to 4x Scene+ points per CAD $1 on eligible Scene+ Travel bookings (hotels, car rentals, activities)

Welcome Bonus:
Earn up to 45,000 Scene+ points: 35,000 points after CAD $2,000 in purchases in the first 3 months, plus 10,000 annual bonus points when spending CAD $40,000 annually.

Card Details:

• Annual Fee: CAD $150
• APR: 20.99% for purchases / 22.99% for cash advances
• Foreign Transaction Fee: None
• Network: Visa Infinite
• Rewards Program: Scene+

Key Benefits:

• No foreign transaction fees on international purchases
• Six free airport lounge visits per year through Priority Pass
• Comprehensive travel insurance coverage
• Purchase protection and extended warranty

Redemption Options:
Points can be redeemed for travel, merchandise, gift cards, or applied toward eligible purchases through Scene+.

Credit Requirements:
Applicants generally need a FICO score of 660 or higher to qualify.

Spending Limitations / Potential Drawbacks:
The annual fee may not be worth it for those who spend little on travel or dining.

Why it Works for Beginners:
It offers straightforward rewards and no foreign transaction fees, making it easy to use and understand.

Earning Structure:

• 4% cash back on eligible gas station purchases in Canada
• 4% cash back on eligible grocery store purchases in Canada (up to CAD $1,200 cash back annually)
• 2% cash back on all other purchases

Welcome Bonus:
Earn 10% cash back on all purchases for the first 3 months (up to CAD $2,000 in purchases) plus a CAD $50 statement credit when you make a purchase in month 13, for up to CAD $250 in total first-year value.

Card Details:

• Annual fee: CAD $119.88 ($9.99 monthly)
• Foreign transaction fees: 2.5%
• APR: 20.99% for purchases / 21.99% for cash advances
• Other perks: Access to Amex Experiences™, extensive insurance coverage, and 24/7 customer service

Key Benefits:

• High cash back rate on gas and groceries
• No limit on base rate cash back
• Purchase protection and extended warranty coverage
• Access to American Express Experiences and Front Of The Line® presales

Redemption Options:
Cash back is credited to the account as an annual statement credit.

Credit Requirements:
Applicants generally need good to excellent credit to qualify, with a FICO score of at least 660.

Spending Limitations / Potential Drawbacks:
Bonus cash back rate on gas and groceries drops to 2% after CAD $30,000 annual spend.

Why it Works for Beginners:
Its simple earning structure and automatic cash back redemption make it easy to use without tracking complex rewards.

Earning Structure:

• 6x Scene+ points per CAD $1 at Sobeys, Safeway, Freshco, Foodland, and more
• 5x Scene+ points per CAD $1 on dining, food delivery, and other eligible grocery stores
• 5x Scene+ points per CAD $1 on eligible entertainment purchases in Canada
• 3x Scene+ points per CAD $1 on eligible gas and daily transit in Canada
• 3x Scene+ points per CAD $1 on eligible select streaming services in Canada
• 1x Scene+ point per CAD $1 on all other purchases
• Up to 4x Scene+ points per CAD $1 on eligible Scene+ Travel bookings (hotels, car rentals, activities)

Welcome Bonus:
Earn up to 50,000 Scene+ points: 30,000 points after CAD $2,000 in purchases in the first 3 months, plus 20,000 points after CAD $7,500 in purchases in the first year.

Card Details:

• Annual fee: CAD $120 (waived first year)
• Foreign transaction fees: None
• APR: 20.99% for purchases / 22.99% for cash advances
• Other perks: Comprehensive travel insurance, AMEX Offers®, Front of the Line®, AMEX Invites®, and complimentary concierge services

Key Benefits:

• No foreign transaction fees
• Strong earning rate on groceries and dining
• Access to American Express Offers and events
• Comprehensive travel insurance coverage

Redemption Options:
Points can be redeemed for travel, gift cards, merchandise, or statement credits through the Scene+ program.

Credit Requirements:
Applicants typically need good to excellent credit to qualify, with a FICO score between 700 and 900.

Spending Limitations / Potential Drawbacks:
Some merchants in Canada do not accept American Express, which may limit where the card can be used.

Why it Works for Beginners:
The card has an easy-to-understand earning structure and flexible redemption options, making it simple for new rewards card users to maximize value.

Earning Structure:

• 3x Scene+ points per CAD $1 at Sobeys, Safeway, Freshco, and more
• 2x Scene+ points per CAD $1 on restaurants, fast food, drinking establishments, and other eligible grocery stores
• 2x Scene+ points per CAD $1 on eligible entertainment purchases in Canada
• 2x Scene+ points per CAD $1 on eligible gas and daily transit in Canada
• 2x Scene+ points per CAD $1 on eligible select streaming services
• 1x Scene+ point per CAD $1 on all other purchases

Welcome Bonus:

Earn up to 7,500 Scene+ points: 2,500 points after CAD $250 in purchases in the first 3 months, plus 5,000 points after CAD $1,000 in purchases in the first 3 months. Offer ends October 31, 2025.

Card Details:

• Annual fee: CAD $0
• Foreign transaction fees: 2.5%
• APR: 20.99% for purchases / 22.99% for cash advances
• Mobile device insurance coverage
• American Express Invites®

Key Benefits:

• Access to American Express Offers and promotions
• Scene+ points can be redeemed for travel, merchandise, or statement credits
• Accepted at a growing number of merchants in Canada
• Purchase protection and extended warranty coverage

Redemption Options:

Points are redeemable for travel, merchandise, gift cards, or statement credits through Scene+.

Credit Requirements:

Applicants generally need good credit to qualify, with a FICO score of at least 660.

Spending Limitations / Potential Drawbacks:

Acceptance may be lower at some smaller merchants compared to Visa or Mastercard.

Why it Works for Beginners:

The straightforward rewards structure makes it easy for first-time cardholders to earn and redeem points without confusion.

Earning Structure:

• This card does not offer points or cash back rewards.

Welcome Bonus:

0.99% introductory interest rate on balance transfers for the first 9 months (2% balance transfer fee). No annual fee in the first year.

Card Details:

• Annual fee: CAD $29 (waived first year)
• Foreign transaction fees: 2.5%
• APR: 13.99% for purchases / 13.99% for cash advances / 13.99% for balance transfers
• 0.99% introductory balance transfer rate for 9 months (2% fee)
• Save on interest charges compared to standard credit cards
• Helps simplify monthly payments

Key Benefits:

• Lower interest rate on purchases and cash advances compared to standard cards
• Promotional balance transfer rate to help pay down debt faster
• Purchase protection and extended warranty coverage
• Accepted worldwide where Visa is accepted

Redemption Options:

Not applicable, as the card does not earn rewards.

Credit Requirements:

Applicants generally need fair to good credit to qualify, typically a FICO score of 560 or higher.

Spending Limitations / Potential Drawbacks:

It does not provide rewards or travel perks, which may not suit those seeking benefits beyond low interest rates.

Why it Works for Beginners:

Its simple structure and low interest rate make it easy for new credit users to manage balances and avoid high interest charges.

Earning Structure:

• 2% cash back on eligible grocery purchases
• 1% cash back on eligible gas and EV charging
• 1% cash back on eligible transportation
• 1% cash back on eligible dining purchases
• 1% cash back on eligible recurring payments
• 0.5% cash back on all other purchases

Welcome Bonus:

Earn up to CAD $125 in value: CAD $25 cash back after your first purchase in the first 4 monthly statements, plus 10% cash back for the first 4 monthly statements (up to CAD $100 cash back).

Card Details:

• Annual fee: CAD $0
• Foreign transaction fees: 2.5%
• APR: 20.99% for purchases / 22.99% for cash advances
• Redeem cash back anytime with a CAD $10 minimum through CIBC Online and Mobile Banking
• Save over CAD $600 with CIBC and Skip; includes a 12-month Skip+ free trial and exclusive benefits
• Free SPC+ membership with over 450 deals, discounts, and giveaways for eligible student clients

Key Benefits:

• No annual fee for students
• Cash back rewards on everyday spending
• Purchase protection and extended warranty coverage
• Access to Visa payWave for contactless payments

Redemption Options:

Cash back can be redeemed anytime once you have a minimum of CAD $10 through CIBC’s online or mobile banking platforms.

Credit Requirements:

Created for students with little or no credit history, typically those with a FICO score of 650 or above, although a formal credit history isn’t always necessary for approval.

Spending Limitations / Potential Drawbacks:

Lower cash back rate on non-grocery and non-bill purchases.

Why it Works for Beginners:

It offers simple rewards, no annual fee, and helps students start building credit responsibly.

Earning Structure:

• 1% cash back on groceries
• 1% cash back on gas and electric vehicle charging
• Average of 5% cash back at over 10,000 partner locations nationwide (in addition to base cash back rates)

Welcome Bonus:

There is no welcome bonus.

Card Details:

• Annual fee: CAD $5/month
• Foreign transaction fees: 2.5%
• APR: 19.99%–29.99% for purchases / 22.99%–31.99% for cash advances
• Guaranteed approval; no credit score required to apply
• International IDs accepted
• Security deposit starting at CAD $50 (sets credit limit)
• Instant cash back redeemable anytime through the Neo app

Key Benefits:

• Reports to major Canadian credit bureaus
• Access to Neo partner network for higher rewards
• Digital account management through the Neo app
• Works anywhere Mastercard is accepted

Redemption Options:

Cash back can be redeemed instantly at any time through the Neo Financial app.

Credit Requirements:

No credit history required; approval guaranteed outside Quebec with deposit.

Spending Limitations / Potential Drawbacks:

The credit limit is tied to the deposit, which may be low for some spending needs.

Why it Works for Beginners:

It offers a simple way to start building credit while earning rewards on everyday purchases.

Earning Structure:

• 1% cash back on all purchases
• Option to receive rewards as cash, stock, or cryptocurrency

Welcome Bonus:

There is no welcome bonus.

Card Details:

• Annual fee: CAD $0
• Foreign transaction fees: None
• APR: Not applicable (prepaid card)
• Load funds via bank transfer, wire, Visa/Mastercard debit, or institutional account transfer
• Rewards can be applied directly to a Spend account, stock trading account, or crypto account
• Digital and physical card options, compatible with Apple Pay, Google Pay, and Samsung Pay

Key Benefits:

• No annual or foreign transaction fees
• Flexible cash back redemption options
• Works worldwide wherever Visa is accepted
• Can integrate with Wealthsimple’s investing and crypto services

Redemption Options:

Cash back can be redeemed as cash, invested in stocks/ETFs, or converted to cryptocurrency.

Credit Requirements:

No credit check is required since it is a prepaid card.

Spending Limitations / Potential Drawbacks:

Spending is limited to the available balance in the linked Wealthsimple account.

Why it Works for Beginners:

It offers rewards without the risk of debt and is easy to manage through a mobile app.

Earning Structure:

• 2x points on eligible dining and food delivery purchases in Canada
• 2x points on eligible travel purchases
• 1x point on all other purchases

Welcome Bonus:

Earn up to 100,000 Membership Rewards® points: 70,000 points after CAD $10,000 in purchases in the first 3 months, and 30,000 points when you make a purchase between months 14 and 17.

Card Details:

• Annual fee: CAD $799
• Foreign transaction fees: 2.5%
• APR: 21.99%–28.99% (charge card; balance should be paid in full each month)
• Access to over 1,400 airport lounges worldwide via The Global Lounge Collection™
• Fine Hotels + Resorts benefits valued at an average of USD $550 per stay
• Flexible points redemption, including transfers to airline and hotel loyalty programs
• Complimentary benefits at Toronto Pearson Airport

Key Benefits:

• Access to over 1,300 airport lounges worldwide
• Annual travel credit of CAD $200
• Hotel status with select chains
• Comprehensive travel insurance coverage
• Purchase protection and extended warranty

Redemption Options:

Points can be redeemed for statement credits, travel booked through American Express Travel, airline and hotel transfers, or merchandise and gift cards.

Credit Requirements:

Applicants typically need good to excellent credit to qualify, with a FICO score of 670–850.

Spending Limitations / Potential Drawbacks:

The high annual fee may not be worth it for those who travel infrequently.

Why it Works for Beginners:

The simple earning structure and flexible redemption options make it easy for new cardholders to use and understand.