10 Best Rewards Credit Cards In Canada

Earning Structure:

• 6x points for every CAD 1 (approx. US $0.73) spent on groceries
• 5x points for every CAD 1 (approx. US $0.73) spent on dining, food delivery, and entertainment
• 3x points for every CAD 1 (approx. US $0.73) spent on gas, public transit, and streaming services
• 1x point for every CAD 1 (approx. US $0.73) spent on all other purchases

Welcome Bonus:

New cardholders can earn up to 50,000 bonus Scene+ points: 30,000 after spending CAD 2,000 (approx. US $1,460) in the first 3 months, plus 20,000 more after CAD 7,500 (approx. US $5,475) in the first year.

Card Details:

• Annual fee: CAD 120 (approx. US $88)
• APR: 20.99% on purchases and 22.99% on cash advances
• Other benefits: Travel insurance, airport lounge access through Priority Pass, mobile device insurance
• Network: American Express
• Type: Rewards credit card
• Foreign transaction fees: 0%

Key Benefits:

• Strong rewards on groceries and dining
• No foreign transaction fees
• Comprehensive travel insurance coverage
• Mobile device protection
• Access to Amex Offers and experiences

Redemption Options:

Points can be redeemed for travel, statement credits, merchandise, or through the Scene+ program for dining and entertainment.

Credit Requirements:

Applicants generally need a good to excellent credit score, typically 700 or higher on the FICO scale.

Spending Limitations / Potential Drawbacks:

Some merchants in Canada do not accept American Express, which can limit card use in certain places.

Why it Works for Beginners:

It offers simple earning categories and flexible redemption options, making it easy for new rewards card users to maximize value.

Earning Structure:

• 5x points for every CAD 1 (approx. US $0.73) spent on eligible purchases
• 1x point for every CAD 1 (approx. US $0.73) spent on all other purchases

Welcome Bonus:

New cardholders can earn 20,000 bonus points (approx. CAD 165 or US $120 in cash back value) after CAD 2,000 (approx. US $1,460) in purchases within the first 90 days, plus 10,000 bonus points (approx. CAD 80 or US $58 in cash back value) once enrolled for paperless e-statements within the same period.

Card Details:

• Annual fee: CAD 120 (approx. US $88)
• APR: 21.99% on eligible purchases, 22.99% on balance transfers, and 22.99% on cash advances (beginning September 2025)
• Network: Mastercard
• Type: Rewards credit card
• Foreign transaction fees: 2.5%
• Other benefits: Travel insurance, purchase protection, extended warranty

Key Benefits:

• High earn rate on everyday spending
• Flexible redemption options
• Access to World Elite Mastercard perks
• Strong travel and purchase coverage

Redemption Options:

Points can be redeemed for travel, cash back, gift cards, or merchandise through the MBNA Rewards program.

Credit Requirements:

Applicants typically need good to excellent credit, often a FICO score of 700 or higher.

Spending Limitations / Potential Drawbacks:

The card carries an annual fee and foreign transaction fees, which may reduce its value for some users.

Why it Works for Beginners:

It provides a simple earning structure and flexible redemption choices, making it easy for new cardholders to understand and use.

Earning Structure:

• 4% cash back on groceries and recurring bill payments per CAD 1 (approx. US $0.73) spent
• 2% cash back on gas and daily transit per CAD 1 (approx. US $0.73) spent
• 1% cash back on all other purchases per CAD 1 (approx. US $0.73) spent

Welcome Bonus:

New cardholders can earn 10% cash back on all purchases for the first three months, up to CAD 2,000 (approx. US $1,460) in total spending.

Card Details:

• Annual fee: CAD 120 (approx. US $88)
• APR: 20.99% on purchases and 22.99% on cash advances
• Network: Visa
• Type: Cash back credit card
• Foreign transaction fees: 2.5%
• Other benefits: Visa Infinite Concierge, travel insurance, purchase protection

Key Benefits:

• High cash back rates on groceries and bills
• Strong travel and insurance coverage
• Access to Visa Infinite perks
• Purchase and mobile device protection

Redemption Options:

Cash back rewards are applied as a statement credit once per year, reducing the balance owed.

Credit Requirements:

Applicants typically need a good to excellent credit score, usually 700 or higher on the FICO scale.

Spending Limitations / Potential Drawbacks:

The card applies an annual fee and limits the maximum cash back in bonus categories.

Why it Works for Beginners:

It offers straightforward cash back categories that make it easy for new cardholders to maximize rewards without confusion.

Earning Structure:

• 7% cash back on groceries with CAD 10,000 (US $7,300) balance
• 6% cash back on groceries with CAD 5,000 (US $3,650) balance
• 5% cash back on groceries and 1% on all other purchases without banking with Neo
• 4.50% cash back on recurring payments with CAD 5,000 (US $3,650) balance
• 4% cash back on recurring payments without banking with Neo
• 4% cash back on gas with CAD 10,000 (US $7,300) balance
• 3.50% cash back on gas with CAD 5,000 (US $3,650) balance
• 3% cash back on gas and EV charging without banking with Neo

Welcome Bonus:

This card does not offer a welcome bonus.

Card Details:

• Annual fee: CAD 125 (approx. US $91)
• APR: 19.99%–26.99% on purchases and 22.99%–28.99% on cash advances
• Other benefits: Mobile device insurance, extended warranty, purchase protection
• Network: Mastercard
• Type: Cash back credit card
• Foreign transaction fees: 2.5%
• Additional perks: Higher cash back rates for Neo Everyday Account holders

Key Benefits:

• Strong cash back rates at partner stores
• Insurance coverage on purchases and devices
• Wide merchant acceptance across Canada
• Extra rewards with a linked Neo Everyday Account

Redemption Options:

Cash back rewards can be redeemed directly as statement credits or applied toward purchases.

Credit Requirements:

Applicants typically need a FICO score of 700 or higher to qualify.

Spending Limitations / Potential Drawbacks:

Cash back rates outside of partner merchants are lower, and foreign purchases incur a 2.5% fee.

Why it Works for Beginners:

The simple cash back rewards make it easy for new credit card users to manage.

Earning Structure:

• 5x points for every CAD 1 (approx. US $0.73) spent on restaurants, groceries, and food delivery
• 3x points for every CAD 1 (approx. US $0.73) spent on streaming services
• 2x points for every CAD 1 (approx. US $0.73) spent on travel and transit purchases
• 1x point for every CAD 1 (approx. US $0.73) spent on all other purchases

Welcome Bonus:

New cardholders can earn up to 15,000 Membership Rewards points by receiving 1,250 points each month they spend at least CAD 750 (approx. US $550) during the first year.

Card Details:

• Annual fee: CAD 155.88 (approx. US $114) annually or CAD 12.99 (approx. US $9.50) per month for non-Quebec residents, and CAD 150 (approx. US $110) annually for Quebec residents for the primary cardholder
• APR: 21.99%
• Network: American Express
• Type: Rewards credit card
• Foreign transaction fees: 2.5%
• Other benefits: Access to travel insurance, purchase protection, and Amex Offers

Key Benefits:

• Strong earning rates on food and dining
• Flexible points redemption options
• Monthly-based welcome bonus structure
• Useful travel and shopping insurance
• Access to exclusive Amex perks

Redemption Options:

Points can be redeemed for travel, statement credits, gift cards, or transferred to airline and hotel partners.

Credit Requirements:

Applicants typically need a good to excellent credit score, around 700 FICO, to qualify.

Spending Limitations / Potential Drawbacks:

The card charges a foreign transaction fee and may not be accepted as widely as Visa or Mastercard in some locations.

Why it Works for Beginners:

It offers simple earning categories and a monthly bonus system that makes it easier for new cardholders to build rewards consistently.

Earning Structure:

• 5x points for every CAD 1 (approx. US $0.73) spent on groceries and dining
• 2x points for every CAD 1 (approx. US $0.73) spent on gas and recurring bills
• 1x point for every CAD 1 (approx. US $0.73) spent on all other purchases

Welcome Bonus:

New cardholders can receive 45,000 points: 5,000 points by signing up for payment insurance for at least three months, 10,000 points by spending $5,000 in the first three months, 10,000 points by spending $10,000 in the first six months, and 10,000 points by spending $15,000 in the first year.

Card Details:

• Annual fee: CAD 150 (approx. US $110)
• APR: 20.99% on purchases and 22.49% on cash advances
• Other benefits: Travel insurance, airport lounge access, extended warranty
• Network: Mastercard
• Type: World Elite credit card
• Foreign transaction fees: 2.5%
• Additional perks: Mobile device insurance, purchase protection

Key Benefits:

• High earn rate on groceries and dining
• Annual travel refund credit
• Strong travel insurance package
• Access to Mastercard World Elite perks
• Mobile device coverage

Redemption Options:

Points can be redeemed for travel, merchandise, gift cards, or statement credits through the À la Carte Rewards program.

Credit Requirements:

Applicants typically need a good to excellent credit score, around 700 or higher on the FICO scale.

Spending Limitations / Potential Drawbacks:

The card has a relatively high annual fee and charges foreign transaction fees, which may limit its value for international purchases.

Why it Works for Beginners:

It offers simple earning categories and flexible redemption options, making it easy for new cardholders to understand and use effectively.

Earning Structure:

• 5% on groceries
• 4% on transit, including ride-sharing, taxis, and public transportation
• 3% on gas and electric vehicle charging
• 2% on recurring bill payments like your monthly phone bill or favorite streaming service
• 1% unlimited cash back on all other purchases

Welcome Bonus:

New cardholders can earn up to 10% cash back in the first three months, and the annual fee is waived in the first year.

Card Details:

• Annual fee: CAD 120 (approx. US $88)
• APR: 21.99% on purchases and 23.99% on cash advances
• Network: Mastercard
• Type: Cash back
• Foreign transaction fees: 2.5%
• Other benefits: Complimentary roadside assistance, travel insurance, extended warranty, purchase protection

Key Benefits:

• High cash back on groceries
• Strong rewards for gas and transit
• Travel insurance package
• Roadside assistance coverage
• Purchase protection and extended warranty

Redemption Options:

Cash back can be redeemed as a statement credit, deposited into a BMO account, or applied toward a BMO investment account.

Credit Requirements:

Applicants typically need a fair to excellent credit score, around 650 or higher on the FICO scale.

Spending Limitations / Potential Drawbacks:

The card has an annual fee and a 2.5% foreign transaction fee, which may reduce the value for some users.

Why it Works for Beginners:

It provides clear earning categories and simple cash back redemption, making it easy for beginners to understand and use.

Earning Structure:

• 1 point† per CAD 1 (approx. US $0.73) spent on eligible gas, electric vehicle charging, grocery, and direct Air Canada® purchases (including Air Canada Vacations®)
• 1 point† per CAD 1.50 (approx. US $1.10) spent on all other eligible purchases

Welcome Bonus:

New cardholders can earn 10,000 Aeroplan points after the first purchase, plus 10,000 Aeroplan points after spending CAD 1,000 (approx. US $730) in the first three months of membership.

Card Details:

• Annual fee: CAD 89 (approx. US $65)
• APR: 21.99% on purchases and 22.99% on cash advances
• Network: Visa
• Type: Travel rewards credit card
• Foreign transaction fees: 2.5%
• Other benefits: Purchase protection, extended warranty coverage

Key Benefits:

• Earn Aeroplan points on every purchase
• Lower annual fee compared to premium Aeroplan cards
• Access to Air Canada travel rewards program
• Insurance coverage for purchases
• Accepted worldwide through Visa

Redemption Options:

Points can be redeemed for flights with Air Canada and partner airlines, as well as for hotels, car rentals, and merchandise.

Credit Requirements:

Applicants typically need a good to excellent credit score of 720 or higher (FICO).

Spending Limitations / Potential Drawbacks:

The card does not include premium travel perks such as lounge access or enhanced insurance coverage.

Why it Works for Beginners:

It offers an affordable way to start earning Aeroplan points while keeping annual costs low.

Earning Structure:

• 4% cash back on groceries and gas purchases up to CAD 30,000 per year (approx. US $21,900)
• 2% cash back on all other purchases with no limit

Welcome Bonus:

New cardholders can earn 10% cash back on all purchases for the first three months, plus a CAD 50 (approx. US $37) statement credit after making a purchase in month 13.

Card Details:

• Annual fee: CAD 119.88 (approx. US $87)
• APR: 21.99%
• Other benefits: Travel insurance, purchase protection, extended warranty
• Network: American Express
• Type: Cash back credit card
• Foreign transaction fees: 2.5%
• Additional perks: Access to Amex Offers and Front of the Line presale tickets

Key Benefits:

• High cash back on groceries and gas
• Unlimited 2% cash back on other purchases
• Extra insurance coverage included
• Easy-to-understand rewards structure
• Access to American Express experiences

Redemption Options:

Cash back is automatically applied as a statement credit once per year.

Credit Requirements:

Applicants typically need a good to excellent credit score, around 700 FICO or higher.

Spending Limitations / Potential Drawbacks:

The higher 4% rate is capped at CAD 30,000 (approx. US $21,900) per year in eligible categories.

Why it Works for Beginners:

Its simple cash back structure makes it easy for new users to track rewards without confusion.

Earning Structure:

• 1.5x points for every CAD 1 (approx. US $0.73) spent on eligible grocery, gas, and direct Air Canada purchases
• 1x point for every CAD 1 (approx. US $0.73) spent on all other eligible purchases

Welcome Bonus:

New cardholders can earn 10,000 Aeroplan bonus points after making their first purchase with the card, plus 15,000 Aeroplan bonus points after spending $7,500 in the first six months of account opening.

Card Details:

• Annual fee: CAD 139 (approx. US $101)
• APR: 21.99% on purchases and 22.99% on cash advances
• Network: Visa
• Type: Travel rewards credit card
• Foreign transaction fees: 2.5%
• Other benefits: Travel insurance, Visa Infinite Concierge, airport lounge access discounts, and purchase protection

Key Benefits:

• Strong earning potential on Air Canada purchases
• Travel insurance coverage included
• Access to Visa Infinite perks
• Preferred pricing on Aeroplan flight rewards
• Purchase security and extended warranty

Redemption Options:

Points can be redeemed for flights with Air Canada and its partners, as well as for hotels, car rentals, and merchandise through the Aeroplan program.

Credit Requirements:

Applicants generally need a good to excellent credit score, typically 720 or higher on the FICO scale.

Spending Limitations / Potential Drawbacks:

The card carries an annual fee and foreign transaction fees, which may reduce its value for some users.

Why it Works for Beginners:

It provides a straightforward earning system and easy access to Aeroplan rewards, making it a great option for newcomers to travel credit cards.