Finding the best Canadian rewards credit card can be intimidating these days; travel rewards, cash back, store credit, what should you choose? Of course there’s also signup bonuses, multipliers, and yearly fees to consider, there’s got to be an easy way to figure these things out.

Ratehub.ca has just introduced their Compare All Rewards Credit Cards tool and I must say it’s quite impressive.

Full disclosure: I was invited to the launch party for this tool. Bloggers have a chance to win prizes for mentioning the new tool but I will not be accepting anything beyond the gift presented at the event.

I’m writing about the compare all rewards credit cards site because I think it’s great. Let’s take the site and how it’ll help you find the best Canadian rewards credit card.

Best Canadian Rewards Credit Card

The layout is visually appealing and as you can see from above if you put in some basic info, it’ll narrow down your search right away. With credit card rewards income is important, the better reward cards usually require an income of at least $60,000.

Most of us like to focus on rewards but a low interest rate and balance transfer options are just as important to many people. The compare rewards credit cards site addresses this by having separate tabs if you want to focus on this.

The monthly spend options are what sets this tool apart from any other. Different credit cards have different multipliers depending on where you spend your money, with the tool you can quickly calculate which card will benefit you the most depending on your spending habits.

Once you’ve entered your information a list pops up with the best Canadian rewards credit card available to you and much more. The below list was compiled based on the information entered above.

credit cards 10I’m currently thinking about getting a new card just to get some more Aeroplan points. Based on this comparison it seems obvious that it’s much more advantageous for me to pick the American Express Aeroplan Plus Gold Card over the TD Aeroplan Visa Infinite Card.

Of course it’s not that simple, you need to click the details of each card to find out there other benefits. The AMEX card has a yearly fee associated with it, however the TD Aeroplan Visa waives the first year. It’s still more advantageous in the long run for me to get the AMEX, but if I’m “churning ” cards or I don’t like yearly fees, then maybe the TD Aeroplan is a better option.

Keep in mind that this calculator assumes you’ll be using a single card for all your purchases. Personally I prefer to use different cards depending on where and what I’m spending my money on.

Let’s examine one of the cards in more detail. The Starwood Preferred Guest Credit Card from American Express is ranked 2nd on the list based on my spending habits.

best Canadian rewards credit card SPG

This is where things get interesting because you can really see what each card offers including the eligibility, benefits, fees, rewards, etc. Of course there’s a points calculator for each individual card so you can really play around with the benefits.

The one thing that the tool doesn’t factor in and is probably impossible to include is the cost of the additional benefits if you had to buy them on your own. e.g. insurance, roadside assistance, extended warranty etc.

Let’s use travel insurance as an example. If you’re not covered by your employer or credit card benefits, the cost of travel insurance is about $100-150 for a 2 week trip. Opting in for lost luggage, and trip interruption/cancellation could raise you’re premiums a bit more. If you take multiple trips a year then you can see how this can add up.

So although the SPG Amex includes travel accident (death & dismemberment) insurance, it doesn’t include travel medical, lost luggage, and trip interruption/cancellation insurance. Those are benefits that you would have to purchase on your own. Or you could just charge your travel to a credit card that includes all those benefits.

 Related: Is free travel insurance enough?

Final word

Overall the Compare All Rewards Credit Cards site is a valuable resource if you’re trying to find the best Canadian Rewards credit card for you. It’s a well organized system that is easy to use, with all available information easily accessible.

It’s also fantastic if you’re into churning credit cards for reward points. If you’re unfamiliar with churning, well that’s a post for another day.