The Best Credit Cards in Canada for 2023

**This post may contain affiliate links. I may be compensated if you use them.

When you look at the various lists of the best credit cards in Canada for 2022, you’ll quickly notice that everyone has different criteria. Some people will say they’re unbiased and use data points to come up with their lists, but I think that’s silly as you can’t rely strictly on numbers to come up with the best cards.

In my opinion, there needs to be some bias. Many companies will have a bias towards cards that earn them a commission. I prefer to pick cards that are more practical for everyday Canadians. Not everyone will agree with my list of the best credit cards in Canada, but these cards will at least get you looking in the right direction.

Credit cardBest for
American Express Cobalt CardEveryday spending
Scotia Momentum Visa Infinite CardCash back
American Express Platinum CardFrequent travellers
Scotiabank Passport Visa InfiniteAll-in-one travel
American Express Green CardNo fee travel
American Express Aeroplan Reserve CardAeroplan
WestJet RBC World Elite MastercardAirline
Marriott Bonvoy American Express CardHotels
Tangerine Money-Back Credit CardNo fee
Wealthsimple Cash CardNo foreign transaction fees
PC Financial World Elite MastercardGroceries
Scotiabank SCENE VisaStudents
MBNA True Line MastercardLow interest
American Express Business PlatinumBusiness owners

American Express Cobalt Card

  • $12.99 Monthly fee ($155.88 yearly)
  • 2,500 monthly Membership Rewards points after charging $500 in purchases each month for a year (30,000 points total)
  • Earn 5 points per $1 spent on eats and drinks
  • Earn 3 points per $1 spent on streaming services
  • Earn 2 points per $1 spent on travel
  • Earn 1 point per $1 spent on all other purchases

The American Express Cobalt card recently made some changes for the better. You’ll now earn 5 points per $1 spent on food, 3 points per $1 spent on streaming services, 2 points per $1 spent on travel purchases (including gas stations), and1 point per dollar spent on all other purchases. That’s a lot of points you can earn on your regular spending habits.

The welcome bonus points have been consistent at 2,500 Membership Rewards points after charging $500 each month for 12 months. That means you can earn up to 30,000 points as your welcome bonus.

1,000 points are worth $10 in travel or a statement credit. That means you can use this card for travel rewards or cash back at the same value. Additionally, you get access to the Fixed Points Travel Program, which can give you some more value. You could also use your points for gift cards, but it’s not the best value.

Scotiabank Momentum Visa Infinite Card

  • $120 annual fee – first year free
  • Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in purchases)
  • Earn 4% caash back per $1 spent on groceries, recurring bills, and subscription purchases
  • Earn 2% cash back per $1 spent on gas and daily transit purchases
  • Earn 1% cash back on all other purchases with no cash back limit
  • Travel and mobile device insurance included

A list of the best credit cards in Canada wouldn’t be complete without one of the best cash back credit cards. The Scotiabank Momentum VISA Infinite Card is a top pick since you’ll earn 4% cash back rewards on groceries and recurring bill payments, 2% on gas and transit purchases; and 1% on all other eligible purchases. Admittedly, other cards have a higher cash back rate, but I like the Scotia Momentum Visa Infinite Card because the increased earn rate has a high cap rate of $25,000 in purchases per category. Additionally, you get some pretty sweet insurance, including comprehensive travel, purchase protection, and extended warranty.

American Express Platinum Card

  • $699 annual fee until Sept. 26, 2023
  • Earn 90,000 Membership Rewards points when spending $7,500 in the first 3 months
  • Earn 3 points per $1 spent on dining, 2 points on travel, and 1 point on all other purchases
  • $200 annual travel credit
  • Unlimited airport lounge access
  • Hotel status upgrades

The American Express Platinum Card is the best credit card for frequent travellers. Heck, it always ranks high on my list of the best travel credit cards in Canada since it comes with one of the better welcome bonuses in Canada. Many people would never consider this card since it has an annual fee of $699, but it’s one of the more popular rewards credit cards since it has a lot yearly value.

You get an annual travel credit of $200 so you’re really only paying $499 a year. The unlimited lounge access you get allows you to bring a guest. You get a comprehensive travel insurance package that includes trip cancellation/interruption and car rental insurance. If you’re a regular traveller, the lounge access will easily be worth more than that. I’m not even factoring in the additional travel benefits such as hotel status upgrades and travel insurance. The Amex Platinum Card is simply one of the best rewards cards available.

This card earns American Express Membership Rewards points, which allows you to transfer your points to Aeroplan and Marriott Bonvoy. Those points can be incredibly valuable for certain redemptions. Oh, don’t forget about the welcome bonus. It can easily be worth more than $1,000. It’s probably worth double if you transferred your points to Aeroplan. Honestly, this card is worth considering even if you’re not a frequent traveller.

Scotiabank Passport™ Visa Infinite* Card

  • $150 annual fee
  • 25,000 Scene+ points when spending $1,000 in the first 3 months
  • 10,000 points when spending $40,000 in the first year
  • Earn 3 Scene+ points per $1 spent at Empire owned supermarkets
  • Earn 2 Scene+ points per $1 spent on eligible grocery stores, dining, entertainment, and daily transit purchases
  • Earn 1 Scene+ point per $1 spent on all other eligible purchases
  • Visa Airport Companion Program membership + 6 passes per year
  • No foreign transaction fees

Many Canadians don’t want to juggle multiple credit cards. Travellers who want flexibility with their credit cards should consider the Scotiabank Passport Visa Infinite Card. It comes with no foreign transaction fees, lounge access, which includes six free annual visits, and great travel insurance. It’s worth mentioning that, Plaza Premium lounges were recently removed from the Priority Pass program, but Visa replaced them with DragonPass. That means you’ll still have lounge access at most Canadian airports.

It’s worth noting that this card has excellent insurance coverage. Not only do you get travel medical insurance, but you also get baggage insurance, travel accident insurance, trip delay insurance and more.

Scene+ is a pretty basic program, but you can use points on travel booked through the Scotiabank travel portal, or you can claim points on travel charged to your Scotiabank Passport Visa Infinite card. Although you can’t transfer your points to airline or hotel loyalty programs, this card is still one of the best credit cards in Canada and one of the best Scotiabank credit cards. Overall, this card gives travellers enough perks where they don’t need to carry anything else in their wallets.

American Express Green Card

  • No annual fee
  • 10,000 Membership Rewards points welcome bonus
  • Earn 1 point per $1 spent on all purchases
  • Earn 1 Additional point per $1 spent on American Express Travel
  • Buyer’s assurance and purchase protection

The American Express Green Card may not be the most popular travel card, but considering it has no annual fee, it’s a good choice. The earn rate is a straight 1 point per $1 spent, but there is a 10,000 points welcome bonus when you charge $1,000 to your card within the first three months of cardmembership. 

What makes this card stand out is your ability to transfer your American Express Membership Rewards points to other programs. For example, you can transfer your points to Aeroplan and Marriott Bonvoy at a 1:1 and 1:1.2 ratio, respectively. Depending on how you use your points, that could represent a great value.

American Express Aeroplan Reserve Card

  • $599 annual fee
  • Earn 7,500 points per month when spending $2,000 each month for 6 months
  • Earn 5,000 points each when adding additional users at the time of sign up (up to 10,000 points)
  • Earn 35,000 points per month when spending $6,000 between months 13 and 16
  • Earn 3 Aeroplan points per $1 spent on Air Canada, 2 points on dining and food delivery, and 1.25 points on all other purchases
  • Unlimited free access to Maple Leaf Lounges in North America for you and a guest
  • Free first checked bag, priority check-in and boarding on Air Canada

Choosing the best Aeroplan credit card in Canada is tricky since it really depends on the type of traveller you are. Speaking strictly from a benefits viewpoint, the American Express Aeroplan Reserve Card is the clear winner. The welcome bonus is usually quite generous. For reference, past offers have ranged between 90,000 Aeroplan points + a Buddy Pass to 150,000 points.

Your earn rate is 3 Aeroplan points per $1 spent on Air Canada; 2 Aeroplan points per $1 spent on dining and food delivery; and 1.25 Aeroplan points per $1 spent on all other purchases. You also get free access to Maple Leaf Lounges in North America and free checked bags. Admittedly, the $599 annual fee will turn many people off. A good alternative is the TD Aeroplan Visa Infinite card since it typically has no annual fee for the first year.

Aeroplan is one of the best rewards programs in the country since Air Canada is the top carrier. You can pretty much fly anywhere in the world with Aeroplan.

WestJet RBC World Elite Mastercard

  • $119 annual fee
  • $250 WestJet Dollars sign up bonus after your first purchase
  • $200 Additional WestJet Dollars when you charge $5,000 in the first 3 months
  • Earn 2% back in WestJet dollars on WestJet flights or WestJet Vacations packages
  • Earn 1.5% back on all other purchases
  • Annual companion voucher and free checked bags

Choosing the WestJet RBC World Elite Mastercard as the best airline credit card will confuse some people, but hear me out. The WestJet RBC World Elite Mastercard is ideal for families with kids since you get an annual WestJet companion voucher. That voucher allows you to buy an additional ticket at a base fare starting at CAD $119. Plus, I’ve already featured Aeroplan cards for other reasons.

In addition the welcome offer of $250 WestJet dollars is one of the easier card offer bonuses to obtain since all you need to do is make any purchase. You can literally spend $1 to get the bonus, so there’s no need to worry about spending a set amount within X days of account opening.

Think about families with two kids. If each parent had the card, they could each use it on one of their children. You also get free checked bags, so the potential savings and travel perks could be huge. For families travelling to Disney World or Universal Orlando Resort, any money they can save will help a lot. If you don’t fly WestJet, use one of the other cards on my list of the best airline credit cards in Canada.

Marriott Bonvoy American Express Card

  • $120 annual fee
  • 55,000 Marriott Bonvoy points when you charge $3,000 in the first 3 months
  • Earn 5 Marriott Bonvoy points per $1 spent at participating Marriott properties
  • Earn 2 Marriott Bonvoy points for per $1 spent on all other purchases
  • Annual free night certificate worth up to 35,000 points

For those looking to earn hotel stays no better credit card than the Marriott Bonvoy American Express Card. Marriott has over 7,000 properties in more than 120 countries. In other words, you’ll have no problem finding a Marriott hotel whenever you travel. The earn rate is an incredible 5 Marriott Bonvoy points per $1 spent at participating properties and 2 points per $1 spent on all your other everyday purchases.

As a cardholder, you start every year with 15 elite night credits which makes it easier for you to earn higher status. The regular welcome bonus is usually 50,000 Marriott Bonvoy points. However, there are occasional promos where you can earn up to 70,000 points.

Tangerine Money-Back Credit Card

  • No annual fee
  • 10% cash back up to $1,000 in spending ($100 cash back) for the first 2 months
  • 2% cash back on up to 3 categories
  • 0.5% cash back on all other purchases

Credit cards with no annual fee are incredibly popular, but they don’t typically come with many benefits. The Tangerine Money-Back Credit Card is an exception to this trend as you can earn up to 2% cashback on three categories of your choice while all other spending earns you 0.5% cash back. You get to choose two categories that earn you 2% cash back right away, and a third one if you set up your cash back to automatically deposit into your Tangerine account.

Note that there the Tangerine World Mastercard also has no fee and gives you some additional benefits such as mobile device insurance, but you need a personal income of $60,000 or a household income of $100,000 to qualify.

Wealthsimple Cash Card

  • No annual fee
  • 1% back in cash, stocks, or crypto on all purchases
  • 4% interest on deposited funds
  • No foreign transaction fees on purchases
  • No foreign transaction fees on ATM Withdrawals
  • CDIC insurance protection

The Wealthsimple Cash Card is relatively unknown, but it’s perfect for travellers since it has no foreign transaction fees on purchases and ATM withdrawals. Plus, there’s no annual fee. To simply put it, there’s no cheaper way to get foreign currencies since you can simply withdraw cash as you need it when you’re abroad. That said, the ATM operator will likely charge you a fee of around $3 to use their machine, so max out your limit of $500 CAD when you do need to get cash.

There’s no doubt that the Wealthsimple Cash Card is one of the best no foreign transaction fee credit cards in Canada. It’s worth noting that this is a prepaid Visa, so you need to load funds onto your card before using it. The only benefit you get is 1% cash back on all purchases. 

Since the Wealthsimple Cash Card is a prepaid credit card, there is no hit to your credit score when you apply. That said, you also won’t build a credit history. If establishing a credit history is important, and you currently have bad credit, consider getting a secured credit card. That said, a security deposit is required with secured cards.

PC Financial World Elite Mastercard

  • No annual fee
  • Earn 45 PC Optimum Points per $1 dollar spent at Shoppers Drug Mart
  • Earn 30 PC Optimum Points per $1 spent where PC Products are sold and at PC Travel
  • Earn at least 30 PC Optimum Points per litre at Esso/Mobil locations
  • Earn 10 PC Optimum Points per $1 spent on all other purchases

This is where my list of the best credit cards in Canada gets a bit subjective. The PC Financial World Elite Mastercard is the best credit card in Canada for groceries, but you need to do your grocery shopping at Loblaw’s owned stores. The reason for this is that this credit card earns you 30 PC Optimum points per $1 spent at Loblaw’s owned stores. If you shop at Shopper Drug Mart, you earn 45 points per $1 spent and gas purchased at Esso/Mobil locations earns you 30 points per litre. If you shop at a grocery store that accepts, American Express, the Cobalt Card is a better choice.

The real value of this card comes with PC Optimum. PC Optimum is one of the best loyalty programs and they have many ways you can earn additional points, including joining PC Insiders. If you don’t do your grocery shopping at Loblaw’s owned stores, you’re better off with the American Express Cobalt Card or Scotiabank Momentum Visa Infinite Card.

Scotiabank SCENE®* Visa* Card

  • No annual fee
  • 5,000 Scene+ points when you spend $750 in the first 3 months
  • Earn 2 Scene+ points per $1 spent at Cineplex™ theatres, and Empire owned grocery stores
  • Earn 1 Scene+ point per $1 spent on all other purchases

SCENE recently merged with Scotia Rewards to become Scene+. This is incredible news for cardholders since you can now use your points on movies, travel, merchandise and more.

What makes the Scotiabank SCENE Visa appealing to students is that Scotiabank considers it a student credit card, but it’s pretty impressive. You’ll get 5,000 Scene+ points when you spend $750 in the first three months of account opening. You’ll also earn extra Scene+ points at Cineplex. Best of all, Visa is one top credit card issuers, so you won’t have any problems using your card.

MBNA True Line Mastercard

  • No annual fee
  • 0% balance transfer for 12 months – 3% balance transfer fee applies
  • 12.99% standard interest rate
  • Save with Avis Rent A Car and Budget Rent A Car

The MBNA True Line Mastercard gets the dual title of best low-interest credit card and best balance transfer credit card. You’ll pay 0% interest for 12 months when performing a balance transfer with this card. That said, there is a 3% fee for balance transfers. The regular interest rates are 12.99% for purchases at 24.99% for cash advances.

Low interest rates are great if you’re looking to pay off debt, but in an ideal world, you won’t carry a balance. If you’re worried about your spending, you may want to consider lowering your credit limits.

American Express Business Platinum Card

  • $499 annual fee ($799 as of Sept. 26, 2023)
  • Earn 100,000 Membership Rewards points when spending $10,000 in the first 3 months. Must use a referral link
  • Earn 1.25 points per $1 spent on all purchases
  • Unlimited airport lounge access
  • $200 annual travel credit (as of Sept. 26, 2023)
  • $120 annual wireless credit (as of Sept. 26, 2023)
  • $100 Nexual credit every 4 years (as of Sept. 26, 2023)
  • Marriott Bonvoy Gold Elite Status

Business credit cards are often overlooked by the general public since they assume you need to be a business owner to get a business credit card. I’m here to tell you that you don’t need a business to apply and get approved for the American Express Business Platinum Card.

The question is, should you apply for the card if you don’t have a business? It depends. The earn rate is typically worth around 120,000 points, and you get a straight 1.25 points per $1 spent. For some people, that’s worth paying the $99 annual fee.

How the best credit cards in Canada work

Credit cards are essentially short-term loans you get from your credit card provider. You typically get a minimum interest-free period of at least 21 days. As long as you pay off your full balance before then, there will be no additional fees to pay. However, you’ll pay interest on your outstanding balance if you don’t pay the full balance.

How credit card interest is calculated

Most credit cards in Canada have a purchase interest rate of 20% – 22%. If you’re always paying your bills in full and on time each month, then the balance transfer won’t matter.

But what about those people who can’t make the full payment? How is credit card interest calculated? To figure that out, you need to figure out a few things. Let’s assume the purchase interest rate is 22%, and you’re looking to buy a pair of shoes for $100. To calculate your credit card interest rate, you would do the following:

  • Calculate your daily rate – You would take your card’s annual interest rate and divide it by 365 (the number of days in a year to calculate your daily interest rate. Using the example above, your formula would look like this
    • 22% / 365 = .00060
  • Get your daily interest accrual – You would now need to calculate your daily interest accrued on any unpaid balance. To do this, you multiply your daily interest rate by your average daily balance. In this case, we’re using the $100 pair of shoes exaple.
    • .00060 X $100 =  $0.06 
  • Find out how much interest you’re paying – Finally, you take your daily interest accrual and multiply it by the days in your billing cycle.
    • $0.06 X 30 = $1.80

Paying $1.80 in interest may not seem like a big deal, but remember that most people typically have much higher balances. You’ll quickly be drowning in debt if you’re always carrying a balance and making minimum payments.

Types of credit cards in Canada

Although credit cards all function in the same way, there are different types of credit cards designed for various people. When choosing a credit card, the type of credit card you’re interested in is often the first consideration. Note that one type of credit card might be a good choice for you at this moment, but your situation may change later. That’s why you’ll want to know about all the different types of credit cards and how they work.

Rewards credit cards

With travel rewards credit cards, you earn travelcash back, or store rewards. These types of credit cards can be very lucrative since they’ll allow you to travel for less or you can get money back in your pocket. Most premium rewards cards also come with additional benefits such as travel insurance, extended warranty, and more.

No fee credit cards

As the name implies, no fee credit cards have no annual fee. These cards are ideal for people that want to keep their costs down or have limited income. Note that no fee credit cards don’t offer nearly as many benefits as credit cards with an annual fee.

Student credit cards

Every financial institution has student credit cards. Generally, these cards have lower requirements for approval, so they’re an excellent way for students to start building credit. If you already bank with the financial institution where you’re applying for the student credit card, there’s an even greater chance of being approved.

Low interest credit cards

If you think you’ll carry a balance each month, then a low interest credit card is the way to go. Most credit cards charge an interest rate of 20% – 22%, but with low interest cards, you’ll be paying 8% – 16%. While that’s still high, is much lower than traditional cards.

Balance transfer credit cards

With balance transfer credit cards, you can transfer your balance from an existing credit card to a new credit card. You would do this because balance transfer credit cards typically come with a low interest promotional rate. If you took advantage of this, you could quickly pay down your debt. 

Secured credit cards

Even if you have a low credit score you can still qualify for a credit card. The catch is, you’ll likely only be approved for a secured credit card. With these cards, you need to load a security deposit first. Those funds act like your credit limit. Your credit score will slowly increase as you make your payments on time.

Prepaid credit cards

Prepaid credit cards aren’t traditional credit cards. With prepaid credit cards, you load funds first, and then you can spend them on the associated card network (Visa, Mastercard, and American Express). They don’t typically come with as many benefits as regular credit cards, but some people like them since it can help them manage their finances.

What are credit card rewards?

Many credit cards give you rewards whenever you make a purchase. The type of rewards you’ll earn depends on your card type. As a general rule, you want to pick a rewards program that lines up with the type of rewards you like. For example, you shouldn’t get a travel rewards credit card if you don’t like to travel. You’d be better off with a cash back credit card.

The following are the four types of rewards you can earn from a credit card:

Airline / Hotels 

Multiple credit cards are co-branded with airline and hotel loyalty programs. For example, Aeroplan, Marriott Bonvoy, and WestJet Rewards. The points you earn can only be used with the co-branded loyalty program. These credit cards can a good choice as they often come with extra perks such as free checked bags, priority services, and early check-in.

General travel 

Every financial institution has a general travel rewards program where you can earn points with one of their credit cards. These types of rewards are great for people who don’t tend to be loyal to a single airline or hotel. While the flexibility is nice, the value of your points can be less than specific airline or hotel loyalty programs

Cash back 

Many people like cash back credit cards because they’re easy to understand. For every purchase you make, you get a set percentage back in cash back. Your cash back is typically paid monthly, annually, or when you meet a minimum threshold.

Store rewards 

A few major merchants have their own loyalty programs or are partnered with a loyalty program where you can earn points. Getting a co-branded credit card that offers store rewards can be worth it if you regularly shop at the participating merchants. This can be especially true for grocery stores or Costco

What is credit card earn rates?

Every rewards card has different earn rates. You could earn additional rewards depending on the card and the categories you’re spending on. This is an incredible way to increase your cash back or rewards if the increased earn rates line up with your natural spending. Understanding how credit card earn rates work is essential, so you never leave rewards on the table. 

Promotional rate 

Some credit cards offer promotional earn rates when you sign up for a new credit card. For example, you might earn 10% cash back on all purchases or 10X the points on food purchases. You can even get a promotional low interest balance transfer rate for some cards. Note that these promotional rates are only for a limited time and typically have a cap.

Accelerated earn rate 

Accelerated earn rates are where you earn extra points every day on specific categories. For example, you  might get 5X the points on grocery purchases or 3% back in cash at gas stations. Most accelerated earn rates have a cap. Once you reach that cap, you’d earn the base earn rate until you hit your cardmembership anniversary.

Base earn rate 

You’re earning the base earn rate when there’s no promotional or accelerated earn rate. This is the minimum number of rewards you’ll earn for all other eligible purchases. No fee credit cards typically have a very low base earn rate, whereas premium credit cards will have a higher one.

How to claim your credit card rewards

Earning rewards with the best credit cards in Canada is easy, but that’s only half the battle. Eventually, you’ll want to claim those hard earned rewards. How you do it will differ depending on the card and rewards program.

  • Cash back – You’ll usually be paid out monthly, annually, or when you meet a minimum threshold. The cash back can be a statement credit or a cheque.
  • Airline / hotel rewards – With co-branded airline and hotel credit cards, your points are typically deposited into your account at the end of each billing period. Once the points are in your account, you can use them anytime.
  • General travel – How you use your general travel rewards points depends on the program. Some require you to book travel through their travel portal, while others allow you to redeem your points against any travel purchase.
  • Store Rewards – When it comes to store rewards, you can get discounts on your purchases as soon as you you have enough points for the minimum redemption amount.
  • Balance transfer – Although balance transfers aren’t technically a reward, it is sort of. Most credit cards that allow you to make a balance transfer typically require you to do so at the time of application or within 90 days of cardmembership.

How to maximize your credit card rewards

Credit cards are an excellent way to manage your finances and earn rewards when used responsibly. 

  • Welcome bonuses – Welcome bonuses will always be the quickest way to earn points or cash back. Always keep an eye out to see what’s available as offers change regularly.
  • Aim for accelerated rates – If your credit card gives you an accelerated rate on some categories, you should try to max them out since it’s an easy way to cash in.
  • Maximize promotional rates – Since promotional rates are typically even better than accelerated rates, you should take full advantage of them.
  • Sign up for more than one credit card – You can sign up for multiple credit cards to get more than one welcome bonus. This is known as travel hacking, leading to cheap luxury travel. 
  • Get to know your rewards program – Every rewards program is different. If you study the program, you can often find sweet spots where your points are worth more.

How to choose a credit card

There are hundreds of credit cards in Canada. Since each of them has different features and rewards, it can be overwhelming to pick just one. That said, picking a card can become much easier when you look at the card requirements and features.

  • Credit score – Most credit cards require you to have a fair credit score. Some premium credit cards may have a higher credit score requirement.
  • Income – Premium credit cards have a personal or annual household income requirement. There are also cards with no income requirement.
  • Type of card – Decide on the type of card you want. E.g. travel, cash back, student, etc.
  • Card issuer – Canada’s three credit card issuers are Visa, Mastercard, and American Express. Some people prefer one over the other or want two different cards.
  • Annual fee – The annual fee for credit cards can range from free to $699. The higher the fee, the more benefits you’ll usually get.
  • Rewards – Decide what kind of rewards you want to earn to narrow down your choices.
  • Welcome bonus – A generous welcome bonus is a good incentive to apply for a credit card.
  • Earn rate – Choosing a card with accelerated earn rates that align with your spending is ideal.
  • Additional benefits – The extra perks included such as travel insurance, airport lounge access, and mobile device insurance, could be worth more than the annual fee.

How to apply for a credit card

Now that you know what the best credit cards in Canada are and how credit cards work, it’s time to apply for one. There is some information to fill out, and the credit card provider will need to verify your information, but it’s a relatively straightforward process. 

  1. Click apply now – Above, you’ll find the list of the best credit cards in Canada. Click apply now for the one you’re interested in. You’ll be taken to another page to verify the card’s details.
  2. Fill out the application – To apply for a credit card, you must provide personal information such as your name, address, social insurance number, and income.
  3. Wait for a response – Once you’ve submitted your information, your application will be processed. Some credit card providers will give you an instant response, while others may need 7 to 10 business days to come to a decision.
  4. Wait for your card – If you’re approved, your credit card will be mailed to you. Some credit card providers will give you a virtual card so you can use it right away.
  5. Activate your card – As soon as your card arrives in the mail, activate it. This is done by calling the number on the back of your card or logging into your online account.

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter:@barrychoi


  1. Jeff on November 28, 2020 at 3:22 PM

    Hey Barry, love the content! I’m actually thinking about writing a post about credit cards for my own blog soon, so this article was a really great resource. Also, I like how you’re a DIY investor and travel enthusiast (very inspiring). Good stuff!

  2. Barbara Bellemare on January 5, 2022 at 11:10 AM

    Enjoyed your report. Is there any card that is best for people over 65?

    • Barry Choi on January 5, 2022 at 12:41 PM

      Hi Barbara,

      There aren’t any cards that are designed specifically for people that are aged 65+.

  3. Barbara Bellemare on January 5, 2022 at 1:43 PM

    Thanks for your quick reply. Wish marketers would consider it.

  4. Alibaba on January 12, 2022 at 2:18 PM

    Hi Barry,

    I still have Capital One Aspire Travel world elite. I know this card was devalued on rewards. /redemption. Is this still a good card to carry perhaps look at better option in today’s credit card market for canadians.

    • Barry Choi on January 12, 2022 at 2:25 PM


      The devaluations to the card make it no longer appealing. You’re better off getting the American Express Cobalt card since the earn rate is high and points are flexible.

Leave a Comment

Get a FREE copy of Travel Hacking for Lazy People

Subscribe now to get your FREE eBook and learn how to travel in luxury for less