Best rewards credit cards in Canada
Credit cards don’t exist solely to help you spend money. The best rewards credit cards in Canada will let you earn points with regular shopping. The key is to choose a rewards card with the best points-earning potential and a solid and worthwhile rewards program that suits your lifestyle (and yes, the perks and privileges are pretty nice, too).
Here's our list of best rewards credit cards in Canada based on our methodology below. And don't forget to check out our Best Credit Cards Canada list when you're done here.
Summary of our top rewards card picks
| Credit card | Fast facts | Get started |
|---|---|---|
| TD® Aeroplan® Visa Infinite Privilege* Card |
Welcome bonus: Earn up to $2,900 in value† including up to 80,000 Aeroplan points†. Conditions Apply. Account must be approved by January 6, 2025.
Annual fee: $599 |
Apply now |
| American Express® Aeroplan® Reserve Card |
Welcome bonus: Earn up to 85,000 Welcome Bonus Aeroplan®* points
Annual fee: $599 |
Apply now |
| American Express Cobalt® Card |
Welcome bonus:Earn up to 15,000 Welcome Bonus Membership Rewards® points* – that’s up to $150 in value.
Annual fee: $155.88 ($12.99/month) |
Apply now |
| MBNA Rewards Platinum Plus® Mastercard® |
Welcome bonus: Earn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.††
Annual fee: $0 |
Apply now |
| PC® Financial World Elite Mastercard® |
Welcome bonus: n/a
Annual fee: $0 |
Apply now |
| Scotiabank Gold American Express® Card |
Welcome bonus: Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived.
Annual fee: $120 |
Apply now |
| BMO eclipse Visa Infinite* Card |
Welcome bonus: Earn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived.
Annual fee: $120 (Annual fee waived in the first year) |
Apply now |
| American Express The Platinum |
Welcome bonus: Earn up to 140,000 Membership Rewards® points* – that’s up to $1,400 in value.
Annual fee: $799 |
Apply now |
Best rewards credit card in Canada
TD® Aeroplan® Visa Infinite Privilege* Card
4.7
up to 80K pts
Welcome offerExcellent
Suggested credit scoreEarn up to $2,900 in value† including up to 80,000 Aeroplan points†. Conditions Apply. Account must be approved by January 6, 2025.
Expires
Jan 6, 2025
Pros
-
Welcome bonus up to 80,000 Aeroplan® points† (up to $2,900 in value†) (enough for a round trip to Honolulu†)
-
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
-
Priority Airport Services† like Boarding and Baggage Handling
-
High Aeroplan® earn rates, double points on eligible Air Canada purchases
-
Extensive travel insurance benefits
-
Free checked bags on Air Canada
-
Preferred Pricing on Aeroplan® flight rewards
-
Visa Infinite Privilege* designation perks (e.g. DragonPass membership)
-
Up to $100 CAD NEXUS credit†
Cons
-
Steep annual fee of $599
-
High eligibility requirements ($150,000 personal or $200,000 household income)
-
Additional cardholder fee of $199
-
High-value rewards mainly for Air Canada flights
Eligibility
Excellent
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$150,000
Required Annual Household Income
$200,000
2 points†
Earn 2 points† for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.
1.5 points†
Earn 1.5 points† for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.
1.25 points†
Earn 1.25 points† for every $1 you charge to your Card on all other purchases.
6
Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†
2x
Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore
50%
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
$100
Get a NEXUS application fee rebate up to $100 (CAD) every 48 months.†
1st
Get your 1st checked bag free for you and up to eight companions† when your travel originates on an Air Canada flight.
10%
Get 10% savings at Avis and Budget in North America, 5% off internationally†
Earn 2 points† for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.
2 points†
Earn 1.5 points† for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.
1.5 points†
Earn 1.25 points† for every $1 you charge to your Card on all other purchases.
1.25 points†
Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†
6
Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore
2x
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
50%
Get a NEXUS application fee rebate up to $100 (CAD) every 48 months.†
$100
Get your 1st checked bag free for you and up to eight companions† when your travel originates on an Air Canada flight.
1st
Get 10% savings at Avis and Budget in North America, 5% off internationally†
10%
20.99%
Purchase APR APR for purchases 20.99%†
22.99%
Cash Advance APR APR for cash advances 22.99%†
$599
Annual Fee Additional Cardholder† $199
2.5%
Foreign Transaction Fee 2.5% of the transaction in CND
Purchase APR
20.99%
Cash Advance APR
22.99%
Annual Fee
$599
Foreign Transaction Fee
2.5%
Pros
-
Welcome bonus up to 80,000 Aeroplan® points† (up to $2,900 in value†) (enough for a round trip to Honolulu†)
-
Complimentary Maple Leaf Lounge† access and six worldwide lounge visits annually†
-
Priority Airport Services† like Boarding and Baggage Handling
-
High Aeroplan® earn rates, double points on eligible Air Canada purchases
-
Extensive travel insurance benefits
-
Free checked bags on Air Canada
-
Preferred Pricing on Aeroplan® flight rewards
-
Visa Infinite Privilege* designation perks (e.g. DragonPass membership)
-
Up to $100 CAD NEXUS credit†
Cons
-
Steep annual fee of $599
-
High eligibility requirements ($150,000 personal or $200,000 household income)
-
Additional cardholder fee of $199
-
High-value rewards mainly for Air Canada flights
Eligibility
Excellent
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$150,000
Required Annual Household Income
$200,000
2 points†
Earn 2 points† for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.
1.5 points†
Earn 1.5 points† for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.
1.25 points†
Earn 1.25 points† for every $1 you charge to your Card on all other purchases.
6
Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†
2x
Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore
50%
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
$100
Get a NEXUS application fee rebate up to $100 (CAD) every 48 months.†
1st
Get your 1st checked bag free for you and up to eight companions† when your travel originates on an Air Canada flight.
10%
Get 10% savings at Avis and Budget in North America, 5% off internationally†
Earn 2 points† for every $1 spent on eligible purchases made directly with Air Canada® including Air Canada Vacations®.
2 points†
Earn 1.5 points† for every $1 you charge to your Card on eligible gas, groceries, travel and dining purchases.
1.5 points†
Earn 1.25 points† for every $1 you charge to your Card on all other purchases.
1.25 points†
Get 6 lounge visits included for each Cardholder per membership year at over 1,200 airport lounges worldwide with DragonPass†
6
Earn points twice when you provide your Aeroplan number to Aeroplan partner brands and on the Aeroplan eStore
2x
Get 50% more Aeroplan points at Starbucks when you link your TD card with your Starbucks® Rewards account. Conditions Apply.
50%
Get a NEXUS application fee rebate up to $100 (CAD) every 48 months.†
$100
Get your 1st checked bag free for you and up to eight companions† when your travel originates on an Air Canada flight.
1st
Get 10% savings at Avis and Budget in North America, 5% off internationally†
10%
20.99%
Purchase APR APR for purchases 20.99%†
22.99%
Cash Advance APR APR for cash advances 22.99%†
$599
Annual Fee Additional Cardholder† $199
2.5%
Foreign Transaction Fee 2.5% of the transaction in CND
Purchase APR
20.99%
Cash Advance APR
22.99%
Annual Fee
$599
Foreign Transaction Fee
2.5%
The TD® Aeroplan® Visa Infinite Privilege* Card stands out thanks to its huge welcome bonus; generous rewards earn rate, and expansive travel benefits and insurance protections.
TD Aeroplan Visa infinite disclosures:
This offer is not available for residents of Quebec. For Quebec residents, please click here.
The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button. Sponsored Content.
†Terms and conditions apply.
Best rewards credit card in Canada with a welcome bonus
American Express® Aeroplan®* Reserve Card
5.0
up to 85k pts
Welcome offerGood
Suggested credit scoreEarn up to 85,000 Welcome Bonus Aeroplan®* points
Pros
-
Generous signup bonus where you can earn up to 85,000 Aeroplan points
-
High earn rates on Air Canada, dining, and food delivery
-
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
-
Complimentary access to select Air Canada Maple Leaf Lounges within North America
-
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
-
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
-
$100 NEXUS statement credit every 4 years
-
Robust insurance coverage including emergency medical
-
Access to Amex Experiences such as movie premieres
-
No minimum income requirement
Cons
-
High annual fee of $599
-
Lower acceptance when compared to Visa and Mastercard
-
High spending to unlock signup bonus
-
Limited high-earning categories
-
2.5% foreign transaction fee
-
Priority perks limited to Air Canada flights
Eligibility
Good
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$0
Required Annual Household Income
$0
3X
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
2X
the points on eligible Dining and Food Delivery purchases in Canada
1.25X
the points on everything else
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
3X
the points on eligible Dining and Food Delivery purchases in Canada
2X
the points on everything else
1.25X
21.99%
Purchase APR
21.99%
Cash Advance APR on funds advances
$599
Annual Fee $199 for each additional card
2.5%
Foreign Transaction Fee
Purchase APR
21.99%
Cash Advance APR
21.99%
Annual Fee
$599
Foreign Transaction Fee
2.5%
Pros
-
Generous signup bonus where you can earn up to 85,000 Aeroplan points
-
High earn rates on Air Canada, dining, and food delivery
-
Extensive travel perks like priority check-in, boarding, and free first eligible checked bag on Air Canada flights
-
Complimentary access to select Air Canada Maple Leaf Lounges within North America
-
Toronto Pearson Airport benefits including priority security, complimentary valet parking, and discounts on parking and car care services
-
Annual worldwide companion pass at a fixed base fare between $99 and $599 CAD (plus taxes and fees)
-
$100 NEXUS statement credit every 4 years
-
Robust insurance coverage including emergency medical
-
Access to Amex Experiences such as movie premieres
-
No minimum income requirement
Cons
-
High annual fee of $599
-
Lower acceptance when compared to Visa and Mastercard
-
High spending to unlock signup bonus
-
Limited high-earning categories
-
2.5% foreign transaction fee
-
Priority perks limited to Air Canada flights
Eligibility
Good
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Personal Income
$0
Required Annual Household Income
$0
3X
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
2X
the points on eligible Dining and Food Delivery purchases in Canada
1.25X
the points on everything else
the points on eligible purchases made directly with Air Canada®* and Air Canada Vacations®*
3X
the points on eligible Dining and Food Delivery purchases in Canada
2X
the points on everything else
1.25X
21.99%
Purchase APR
21.99%
Cash Advance APR on funds advances
$599
Annual Fee $199 for each additional card
2.5%
Foreign Transaction Fee
Purchase APR
21.99%
Cash Advance APR
21.99%
Annual Fee
$599
Foreign Transaction Fee
2.5%
The American Express® Aeroplan®* Reserve Card is a premium airline with exceptional overall value. The card comes with a massive welcome bonus up to 85k pts (Aeroplan®* points*), offers a high earn rate on dining and Air Canada travel, and features a huge array of premium travel benefits and insurance protections.
Amex Aeroplan Reserve disclosures:
- *Terms and conditions apply
Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Best rewards credit card with no annual fee
MBNA Rewards Platinum Plus® Mastercard®
3.4
up to 10K pts
Welcome offerGood
Suggested credit scoreEarn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
10,000
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
10,000
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
The MBNA Rewards Platinum Plus® Mastercard® is an overlooked gem among rewards cards in Canada and could be an ideal fit for anyone who is averse to paying an annual fee and whose biggest spending categories are groceries, restaurants, subscriptions and utilities.
MBNA Rewards Platinum Plus disclosures:
‡, ††, ✪, ***, Terms and Conditions apply.
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
Best rewards credit card in Canada for groceries
PC® World Elite Mastercard®
Fair
Suggested credit scoreto receive the latest news, tips and offers by email
Pros
-
No annual fee
-
High earn rates in certain stores
-
Easy, straightforward redemptions
-
Points don’t expire provided your account stays active and in good standing
-
Special events allow you to earn extra points
Cons
-
High income requirement to qualify
-
Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
-
Points can’t be transferred to other loyalty programs
-
The included travel insurance is very limited
Eligibility
Fair
Recommended Credit Score
$80,000
Required Annual Personal Income
Recommended Credit Score
Fair
Required Annual Personal Income
$80,000
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
45 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
30 points
Earn 10 points per $1 spent everywhere else
10 points
21.99%
Purchase APR
5%
Balance Transfer Rate
22.97%
Cash Advance APR
$0
Annual Fee
Purchase APR
21.99%
Balance Transfer Rate
5%
Cash Advance APR
22.97%
Annual Fee
$0
Pros
-
No annual fee
-
High earn rates in certain stores
-
Easy, straightforward redemptions
-
Points don’t expire provided your account stays active and in good standing
-
Special events allow you to earn extra points
Cons
-
High income requirement to qualify
-
Accelerated earn rates are limited to certain partner stores, and points can be redeemed only for purchases within Loblaw banner stores
-
Points can’t be transferred to other loyalty programs
-
The included travel insurance is very limited
Eligibility
Fair
Recommended Credit Score
$80,000
Required Annual Personal Income
Recommended Credit Score
Fair
Required Annual Personal Income
$80,000
45 points
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
30 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
10 points
Earn 10 points per $1 spent everywhere else
* 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix
45 points
Earn 30 points per litre for gas purchased at Esso™ or Mobil™ stations
30 points
Earn 30 points per $1 spent on PC Travel services
30 points
Earn 30 points per $1 spent at Loblaw Banner Grocery Stores (includes Loblaws, No Frills, Valu-Mart, Independent Grocers, Zehrs, Real Canadian Superstore, Fortinos, etc.)
30 points
Earn 10 points per $1 spent everywhere else
10 points
21.99%
Purchase APR
5%
Balance Transfer Rate
22.97%
Cash Advance APR
$0
Annual Fee
Purchase APR
21.99%
Balance Transfer Rate
5%
Cash Advance APR
22.97%
Annual Fee
$0
When you compare rewards credit cards in Canada — particularly those with a $0 annual fee — you’ll find that few cards offer a meaningful points rate outside of the promo period. And, while many retailers in Canada have a loyalty program, only a handful have a co-branded credit card. With the PC® World Elite Mastercard®, you earn 45 points per $1 spent at Shoppers Drug Mart/Pharmaprix, and 30 points per $1 spent at Loblaw Banner Grocery Stores.
According to Globe and Mail research, the average Canadian family will spend around $16,300 on groceries each year - a truly staggering sum! With the PC World Elite Mastercard that same family would stand to earn at least 489,000 PC Optimum points, or about $489 in cash back each year.
PC World Elite disclosures:
- Sponsored advertising. President’s Choice Financial® Mastercard® is provided by President’s Choice Bank. The PC Optimum™ program is provided by President's Choice Services Inc. President’s Choice Bank is not responsible for the contents of this site, including any editorials or reviews that may appear on this site. For complete information regarding the PC® Mastercard®, PC® World Mastercard®, or PC® World Elite Mastercard®, please click on the “Apply Now” or other applicable button.
Best rewards credit card for everyday spending
Scotiabank Gold American Express®
4.8
up to 45K pts
Welcome offerVery Good
Suggested credit scoreEarn up to $950* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived.
Expires
Jan 3, 2025
Pros
-
Lots of daily spend options to earn multiplied point bonuses
-
Swanky Amex perks like Front of the Line presale concert tickets
-
Save on foreign transaction fees when abroad
-
Fantastic insurance coverage, especially for travel
Cons
-
Relatively low-value welcome bonus
-
$120 annual fee that chews into your point value substantially
-
Scene points redeem poorly for travel
Eligibility
Very Good
Recommended Credit Score
Recommended Credit Score
Very Good
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
6x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
5x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
3x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$120
Annual Fee $29 for each supplementary card
0%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$120
Foreign Transaction Fee
0%
Pros
-
Lots of daily spend options to earn multiplied point bonuses
-
Swanky Amex perks like Front of the Line presale concert tickets
-
Save on foreign transaction fees when abroad
-
Fantastic insurance coverage, especially for travel
Cons
-
Relatively low-value welcome bonus
-
$120 annual fee that chews into your point value substantially
-
Scene points redeem poorly for travel
Eligibility
Very Good
Recommended Credit Score
Recommended Credit Score
Very Good
6x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
5x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
6x
Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
5x
Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
5x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
3x
Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
3x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$120
Annual Fee $29 for each supplementary card
0%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$120
Foreign Transaction Fee
0%
The Scotiabank Gold American Express® Card is one of the few rewards cards that really pays you back for the everyday spending you make at home, as well as cutting you a break on what you spend while travelling overseas.
Scotiabank Gold American Express disclosures:
Conditions Apply. Visit here for the Scotiabank Gold American Express® Card to learn more.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Best dining credit card with points earning potential
BMO eclipse Visa Infinite Privilege* Card
4.1
Up to 90,000 points*
Welcome offerExcellent
Suggested credit scoreto receive the latest news, tips and offers by email
Pros
-
Strong welcome bonus
-
High rewards earning rate*
-
Earn more when you add supplemental cards*
-
Annual lifestyle credit of $200*
-
Mobile device insurance*
-
Extensive travel insurance*
-
Extended warranty and purchase assurance*
-
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
-
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
-
High annual fee
-
High eligibility requirements
-
The welcome bonus is not awarded immediately
-
High rewards earning rate reduces after $50,000 spend
Eligibility
Excellent
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$150,000
Required Annual Household Income
$200,000
5
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
1
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
$200
Get a $200 anniversary lifestyle credit to use however you want.
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
5
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
1
Get a $200 anniversary lifestyle credit to use however you want.
$200
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99 for Quebec residents
$499
Annual Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$499
Pros
-
Strong welcome bonus
-
High rewards earning rate*
-
Earn more when you add supplemental cards*
-
Annual lifestyle credit of $200*
-
Mobile device insurance*
-
Extensive travel insurance*
-
Extended warranty and purchase assurance*
-
Visa Airport Companion membership and 6 complimentary airport lounge visits per year - over $250 USD* in value
-
Access to Visa Infinite Dining Series and Visa Infinite Wine Country*
Cons
-
High annual fee
-
High eligibility requirements
-
The welcome bonus is not awarded immediately
-
High rewards earning rate reduces after $50,000 spend
Eligibility
Excellent
Recommended Credit Score
$150,000
Required Annual Personal Income
$200,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$150,000
Required Annual Household Income
$200,000
5
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
1
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
$200
Get a $200 anniversary lifestyle credit to use however you want.
Cardholders earn an impressive 5 BMO Rewards points per $1 spent in essential categories like travel, dining, gas, groceries, and pharmacy*. This bonus applies up to an annual threshold of $50,000.
5
You’ll earn 1 BMO Rewards point per $1 spent in these categories after that threshold as been met. Other purchases will earn 1 BMO Rewards point per $1 spent*.
1
Get a $200 anniversary lifestyle credit to use however you want.
$200
20.99%
Purchase APR
23.99%
Balance Transfer Rate
23.99%
Cash Advance APR 21.99 for Quebec residents
$499
Annual Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$499
If you’re a fan of saving big on restaurants and groceries, look no farther than the BMO eclipse Visa Infinite* Card. This newer card is making a big splash on Canada’s credit card scene thanks to its incredibly high accelerated earn rate categories for groceries and dining. The card gives you 5 BMO Rewards for every $1 spent on items that fall within the card’s grocery and dining categories*.
BMO eclipse Visa Infinite disclosures:
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Best rewards credit card in Canada for perks and privileges
The Platinum Card®
3.6
up to 140k pts
Welcome offerExcellent
Suggested credit scoreEarn up to 140,000 Membership Rewards® points* – that’s up to $1,400 in value.
Pros
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
-
Annual statement credits: $200 annual travel credit, $200 annual dining credit
-
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
-
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
-
High annual fee of $799, one of the heftiest among Canadian cards
-
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
-
Requires good to excellent credit for eligibility
Eligibility
Excellent
Recommended Credit Score
Recommended Credit Score
Excellent
2x
points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
1x
point for every $1 in all other Card purchases
1
additional point on Amex Travel Online for eligible hotel or car rental bookings
points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
2x
point for every $1 in all other Card purchases
1x
additional point on Amex Travel Online for eligible hotel or car rental bookings
1
21.99% - 28.99%
Variable APR Applies to your Flexible Payment Option balance. This charge card has both Due in Full and Flexible Payment Option balances.
$799
Annual Fee Supplementary Platinum Cards: $250 each
2.5%
Foreign Transaction Fee
Variable APR
21.99% - 28.99%
Annual Fee
$799
Foreign Transaction Fee
2.5%
Pros
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
-
Annual statement credits: $200 annual travel credit, $200 annual dining credit
-
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
-
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
-
High annual fee of $799, one of the heftiest among Canadian cards
-
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
-
Requires good to excellent credit for eligibility
Eligibility
Excellent
Recommended Credit Score
Recommended Credit Score
Excellent
2x
points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
1x
point for every $1 in all other Card purchases
1
additional point on Amex Travel Online for eligible hotel or car rental bookings
points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
2x
point for every $1 in all other Card purchases
1x
additional point on Amex Travel Online for eligible hotel or car rental bookings
1
21.99% - 28.99%
Variable APR Applies to your Flexible Payment Option balance. This charge card has both Due in Full and Flexible Payment Option balances.
$799
Annual Fee Supplementary Platinum Cards: $250 each
2.5%
Foreign Transaction Fee
Variable APR
21.99% - 28.99%
Annual Fee
$799
Foreign Transaction Fee
2.5%
Whoa, that annual fee is high, but it's the credits, perks and privileges you get with this card that give it a spot on this page.
Platinum Card disclosures:
- Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
How do rewards credit cards work?
A rewards credit card is a type of credit card that allows you to earn cash back, travel rewards, or store rewards. The type of rewards you earn depends on the card. In addition, how many rewards you can get depends on the earning rate of the card. Some cards provide you with an increased earning rate on some categories, while others give you a flat rate regardless of where you shop.
Whenever you make an eligible purchase with a rewards credit card, you’ll earn points, miles, or cash back. Typically, non-purchases where you still use your credit card, such as cash advances, gambling sites, casinos, and lottery tickets, wouldn’t earn you any rewards. If you ever need to make a refund, the rewards you earned will be deducted from your account.
Difference between credit card perks and rewards
When considering which perks or rewards are right for you, it’s important to understand the difference first:
A perk is a benefit that’s included with your credit card, something such as:
- Access to a lounge
- Status matching
- Car rental upgrades
- Free nights at a hotel
- Concierge service for booking dining and entertainment
- Roadside assistance
- Purchase and travel insurance
- Annual travel credits
- Flight buddy passes
A reward is something that you redeem a currency or certificate for through spending on a credit card:
- Free groceries
- Free gas
- Hotel stays
- Reward flights
- Cash back
- Gift cards or products
How to choose the best rewards credit card
When trying to choose choose the right card for you, consider your spending patterns. Your card should allow you to earn points when buying the items you would be purchasing anyway. For example, if you are a frequent traveller, then a hotel rewards card that earns extra points on hotel stays would be a smart choice. A large family would do best with a rewards card that earns points at the grocery store they shop at most frequently, while anyone who covers a lot of miles would benefit from a card that gives good rewards on gas.
What credit score do you need to get a rewards credit card in Canada?
In most cases, your credit score will need to range from fair to excellent in order to get approved for a rewards credit card. The exact range this needs to fall into will highly depend on the card issuer. In Canada, a fair credit score begins at a base rating of 575 and extends to 650, while a credit score of 760 and above is generally considered to be excellent.
It’s important to remember that applying for a credit card can hurt your credit score initially — but only temporarily. Every time you apply for a new credit card, your credit score drops by 5 points or less. While this may seem like a lot, a newly opened credit card won’t hurt your score as much as a missed or defaulted payment, and its effect on your credit score will wear off after one year. As long as you have not applied for several new credit cards in a short period of time, a credit card application should have minimal negative impact on your ability to receive additional credit in the fu
How to earn credit card rewards
Once you have a rewards credit card, you’ll earn purchases on eligible purchases. That said, some categories may earn you additional points. For example, some credit cards offer you an increased earning rate on groceries and gas. When applying for a rewards credit card, try to pick a program where you find the rewards useful. In addition, see if there’s a card that gives you an increased earning rate where you typically spend more money.
It’s worth noting that some rewards programs are partnered with specific retailers. If you scan your rewards card and then pay with your rewards credit card, you can double dip, meaning you get rewards points from the retailer as well as the credit card company for your purchase.
How to redeem credit card rewards
Every rewards program is different, so you really need to do some research to know what your redemption options are. For example, with the American Express Membership Rewards program, you can redeem 1,000 points for a $10 statement credit. With Aeroplan, Air Canada’s loyalty program, you can redeem your points for any seat available on Air Canada.
When it comes to cash back programs, there are a few things to be aware of. First, some programs have a minimum amount of cash back you need to have earned before you can redeem it. While some cash back programs allow you to redeem your cash back at any time, others only pay out once per year.
Regardless, most programs allow you to redeem your rewards online or through the mobile app. Keep in mind that most rewards programs have an expiration date, and, if there’s no account activity after 12 - 24 months, you may lose all the points or miles you’ve accumulated.
Types of rewards credit cards
There are multiple types of rewards credit cards in Canada. In addition, each individual loyalty program may also have multiple credit cards. Since every rewards program and loyalty program is different, it may require some research to figure out which card is best for you. Generally, cards with a higher annual fee and income requirement typically have better benefits. If you’re not sure what credit card you should get, take a look at the type of rewards first.
Cash back credit cards
Cash back is the easiest type of reward to understand. When paying with a cash back credit card, you’ll earn a set percentage back depending on where you’re shopping. While earning cash back is simple, redeeming your rewards differs for each program. Some pay out at any time, monthly, or yearly. Sometimes, you may also need a minimum amount of cash back earned before you can cash it out. Learn more in our cash back vs. rewards credit cards guide.
General rewards credit cards
Every major financial institution has general rewards credit cards. Instead of being tied to one specific loyalty program, you’d be earning points tied to your credit card provider that can be used on various items, such as travel, gift cards, merchandise, and more. Having flexible rewards is great, but be aware that every redemption option will have a different value. Generally, using your points for travel booked through your bank’s travel portal will get you the best return.
Airline rewards credit cards
Airline credit cards are tied to a specific credit card. Both Air Canada and WestJet have multiple co-branded credit cards. The higher the tier, the better the benefits. For example, you could get free checked luggage, priority boarding, lounge access and more. Many people prefer airline credit cards since it allows them to fly for less, and the included benefits could let them save money. Note that some general travel rewards programs have airline transfer partners, so they’re indirectly airline rewards credit cards too.
Hotel rewards credit cards
Hotel rewards credit cards are tied to a specific hotel chain, such as Marriott. These types of credit card rewards can be valuable since you earn points that can be used for free stays. Some typical benefits that are included with hotel credit cards are an enhanced earn rate during stays, hotel status upgrades, status qualifying nights and more. There are even some hotel credit cards that give you a free annual night stay.
Travel rewards credit cards
Some people think that credit cards with access to the best travel rewards programs are the same as general rewards cards. While both allow you to redeem your points for travel, gift cards, merchandise and more, there tends to be a few minor differences. Generally speaking, travel rewards credit cards give you an increased earning rate when redeeming your points or miles for travel. You’ll also get more value out of your points when redeeming them for travel through their travel portal.
Store rewards credit cards
As the name implies, store rewards credit cards are tied to a specific retailer. Some people don’t think store reward credit cards are valuable, but they can be if you shop there regularly. In addition, some store loyalty programs are tied to their co-branded credit cards. That means you can’t earn rewards unless you have the card. If you’re considering a store rewards credit card, think about how often you shop at the retailer and how the rewards program works. For example, a grocery store rewards credit card could be useful, whereas one tied to a specific online retailer may not be as valuable.
Gas rewards credit cards
Canada does not have a credit card that’s tied to a specific gas station. That said, multiple credit cards are partnered with specific gas station chains. If you pay with a partnered credit card, you can either save at the pump or earn extra points. Even though there are no specific gas rewards credit cards in Canada, you can still earn many points at gas stations with the right credit card. To learn more read our best gas credit cards guide.
Most popular credit card rewards programs
There are many different credit card rewards programs, and some are naturally better than others. While some people may default to the program offered by their bank, it’s worth getting to know the most popular credit card rewards programs as they can give you more value.
Aeroplan Rewards
Aeroplan is the loyalty program of Air Canada. Since Air Canada is the country’s largest airline, Aeroplan is incredibly popular. With Aeroplan, you can redeem your points on any available Air Canada seat with no blackout dates.
The number of points required for a redemption depends on where you’re flying from, where you’re flying to, and the distance flown. In addition, Aeroplan has dynamic pricing. That means the number of points required for a flight will differ depending on supply and demand.
American Express Membership Rewards
American Express Membership Rewards is one of the most flexible credit card rewards programs. It doesn’t matter if you’re using your points for travel or groceries; you can redeem 1,000 points for a $10 statement credit. This is done directly through the app at any time.
Besides using your points for purchases, American Express also has a fixed price travel program where you can potentially double the value of your points. In addition, you can transfer your points to other loyalty programs such as Aeroplan, British Airways, Hilton Honors and more.
Air Miles Rewards
With more than 10 million active collectors, Air Miles is one of the most recognized loyalty programs in Canada. The easiest way to earn Air Miles is with a co-branded credit card. How many points you’ll earn depends on the credit card you have, where you’re shopping, and how much you spend.
With Air Miles, you can choose to earn Dream or Cash Miles. Dream Rewards lets you redeem your points for things such as flights, hotels, and vacation packages. Cash Rewards can be used for instant discounts or gift cards at participating retailers.
PC Optimum Rewards
Those who want to save on groceries should pay close attention to PC Optimum as it’s the loyalty program for Loblaws-owned grocery stores, such as Loblaws, No Frills, Superstore, and more. When you join the program, you’ll earn points on in-store and targeted offers. However, if you get a PC Optimum credit card, you’ll earn PC Optimum points on all eligible purchases.
Besides grocery stores, you can also earn and redeem points at Esso/Mobil gas stations and Shoppers Drug Mart/Pharmaprix. It’s worth mentioning that Shoppers Drug Mart has bonus earning and redemption events where you can earn 20X the points or get up to $150 in additional value.
Scene+
Scene+ was introduced when Scotia Rewards and SCENE merged. This created a brand new loyalty program that had some great partners. To further enhance the brand, Empire, the parent company of some major grocery stores in Canada, such as Sobeys, IGA, and Foodland bought a stake in the company.
These days, consumers can earn and redeem Scene+ points at Cineplex, Empire-owned grocery stores, Rakuten, select restaurants, and more. In addition, you can also redeem points for travel booked through the Scene+ travel portal.
Are rewards credit cards worth it?
If you always pay your bills on time and in full, then rewards credit cards are always worth it. You’re essentially being rewarded for spending. Plus, many rewards credit cards come with additional benefits, such as travel insurance, airport lounge access, and extended warranty, that could help you save.
FAQs about rewards credit cards
Disclosures:
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.
- The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.
- Conditions Apply. Visit here for the Scotiabank Gold American Express® to learn more. *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Sources:
Barry Choi is a Toronto-based personal finance and travel expert who makes frequent media appearances. When he's not educating people on how to be smarter with money, he's earning and burning miles and points for luxury travel.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
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