Picking the best credit cards in Canada depends on what you’re looking for. Some people may want travel rewards while others prefer cash back. You can even break things down further by looking for a hotel credit card or one without an annual fee.

Once you’ve decided which credit card is best for you, consider adding a supplementary cardholder so you can pool your points. You’ll also want to make sure you know the ins and outs of your loyalty program so you can maximize the value of your points. Here are the best credit cards in Canada for 2020.

CardBest for
American Express Personal PlatinumBest credit card for frequent travellers
Scotia Momentum Visa InfiniteBest cash back credit card
PC Financial World Elite MastercardBest credit card for groveri
BMO World Elite MastercardBest sign up bonus
Marriott Bonvoy American ExpressBest hotel credit card
American Express CobaltBest for high spenders
Scotiabank Passport Visa InfiniteBest all-in-one travel card
WestJet RBC World Elite MastercardBest airline credit card
Tangerine money-back credit cardBest no fee credit card
Rogers World Elite MastercardBest credit card without foreign transacton fees
MBNA True Line Gold MastercardBest low interest credit card

American Express Personal Platinum

  • $699 annual fee
  • 60,000 Sign up bonus (when using a referral link)
  • Earn 3 points per $1 spent on dining
  • Earn 2 points per $1 spent on travel
  • Earn 1 point per $1 spent on all other purchases.
  • $200 Annual travel credit
  • Unlimited airport lounge access
  • Special benefits at Toronto Pearson
  • Hotel status upgrades
  • Fine Hotels & Resorts benefits
  • Exclusive dining experiences with the Global Dining Collection
  • Emergency medical, flight delay/cancellation, lost/delayed luggage insurance

If you’re a frequent traveller, the American Express Platinum Card is the card you should get since it’s one of the best travel credit cards in Canada. What puts it above the rest of these cards is that you get unlimited lounge access. Yes, there’s a $699 annual fee, but you get an annual travel credit of $200 so you’re really only paying $499 a year. If you’re a regular traveller, the lounge access will easily be worth more than that and I’m not even factoring in the additional travel benefits such as status upgrades at hotels and travel insurance. One thing to note, you get an increased welcome bonus of 60,000 American Express Membership Rewards points (the regular is 50,000) when you sign up with my referral link.

Apply now for the Amex Personal Platinum

 

Scotia Momentum VISA Infinite

  • $120 annual fee – first year free
  • 10% cash back for the first three months up to $200 in cash back (when you apply by Mar. 1, 2020)
  • 4% cash back on groceries and recurring bill payments
  • 2% cash back on gas and transit purchases
  • 1% cash back on all other purchases
  • Comprehensive travel insurance
  • Mobile device insurance
  • Purchase protection
  • Extended warranty
  • Concierge service

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 s top pick since you’ll earn 4% cash back on groceries and recurring bill payments, 2% on gas and transit purchases; and 1% on all other purchases. Interestingly enough, you also get a comprehensive travel package which is rare for cash back credit cards.

Apply Now for the Scotiabank Momentum VISA Infinite card

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 30 PC Optimum Points per litre at Esso/Mobil locations
  • Earn 10 PC Optimum Points per $1 spent on all other purchases

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 shopped at other grocery stores, you’d only earn 10 points per $1 spent. 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. The good thing about PC Optimum is that there is a lot of PC Optimum hacks that will allow you to earn points fast including using PC Insiders.

BMO World Elite Mastercard

  • $150 Annual fee (first year free)
  • 35,000 Signup points ($250 value) after charging $3,000 in purchases
  • $100 travel credit when used in the first 6 months of card membership (until Feb 28, 2019)
  • Earn 3 BMO Rewards points per $1 spent on dining, entertainment, and travel purchases
  • Earn 2 BMO Rewards points per $1 spent on all other purchases
  • Mastercard Airport Experiences membership provided by LoungeKey, plus 4 annual complimentary passes
  • Comprehensive travel insurance package included

Credit cards with travel insurance can be a bit complicates at times, but the BMO World Elite Mastercard keeps things simple. For all of your insurance to apply, you need to charge any amount of your travel expenses to your credit card. This is significant since many other credit cards require you to charge 75% or 100% of your travel purchases to your card for your insurance to be valid. What’s also good about this card is that quite often there’s a promotion where the annual fee is waived for the first year and you get a sign up bonus worth $250.

Apply Now for the BMO World Elite Mastercard

 

Marriott Bonvoy American Express

  • $120 annual fee
  • 50,000 Marriott Bonvoy points welcome bonus
  • Earn 5 Marriott Bonvoy points for every $1 on eligible card purchases at participating Marriott Bonvoy properties
  • Earn 2 Marriott Bonvoy points for every $1 on all other purchases
  • Free annual night award that can be redeemed at participating Marriott Bonvoy properties worldwide, with a redemption value up to 35,000 points
  • 15 Elite Night credits each calendar year
  • Marriott Bonvoy Silver Elite status
  • Marriott Bonvoy Gold Elite status when you spend $30,000 on your card each year
  • Complimentary in-room, premium internet access while staying at participating Marriott Bonvoy hotels

For those looking to earn hotel points, no better credit card than the Marriott Bonvoy American Express. Marriott has over 7,000 properties in more than 120 countries so this card is perfect if you like to stat at hotels. The earn rate is an incredible 5 Marriott Bonvoy points per $1 spent at participating properties and 2 points per $1 spent everywhere else. 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 50,000 Marriott Bonvoy points when you charge $1,500 to your card in the first three months, but you can earn an extra 1,000 points if you use my referral link and charge $3,000 to your card in the first three months.

Apply Now for the Marriott Bonvoy American Express

 

American Express Cobalt

  • $10 Monthly fee ($120 Annually)
  • 2,500 monthly welcome points (30,000 total) after charging $500 in purchases
  • Earn 5 points per $1 spent on food (grocery, restaurants, bars, food delivery, etc)
  • Earn 2 points per $1 spent on travel (includes public transportation and taxis/Uber)
  • Earn 1 point per $1 spent on all other purchases

Although the American Express Cobalt card caps the increased earn rate for each category at $30,000 per year, this is still the best card for high spenders. You’ll earn 5 points per $1 spent on food, 2 points per $1 spent on travel and 1 point per dollar spent on all other purchases. As you can see, these points can quickly add up. In case you’re not aware, the Amex Cobalt card earns you MR-S points which is slightly different from regular American Express Membership Rewards Points. You still get access to the Fixed Points Travel Program and you can transfer your points to hotel partners, but you can’t transfer your points directly to any airlines.

Apply now for the Amex Cobalt card

 

Scotiabank Passport Visa Infinite

  • $139 Annual fee
  • 25,000 signup points ($250 value) after charging $1,000 in purchases
  • Earn 2 Scotia Rewards points per $1 spent on grocery, dining, entertainment, and transit purchases
  • Earn 1 Scotia Rewards point per $1 spent on all other purchases
  • Priority Pass Membership with 6 free annual passes
  • Comprehensive travel insurance package included

Travellers who want flexibility with their credit card should consider the Scotiabank Passport Visa Infinite Card since it comes with no foreign transaction fees and lounge access which includes six free annual visits. Scotia Rewards 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.

Apply Now for the Scotiabank Passport Visa Infinite

 

WestJet RBC World Elite Mastercard

  • $119 annual fee
  • $250 WestJet Dollars signup bonus after your first purchase (until January 6th, 2020)
  • Earn 2% back in WestJet dollars on WestJet flights or WestJet Vacations packages
  • Earn 1.5% back in WestJet dollars on everyday purchases
  • Receive an annual round-trip companion voucher starting at $99
  • Free first checked bags for the primary cardholder (up to 8 bags on the same reservation)
  • Comprehensive travel insurance package included

Not everyone in Canada flies WestJet, but there’s no denying that WestJet RBC World Elite Mastercard is the best airline credit card in Canada. What makes it so good is that you get an annual companion voucher and free checked bags. You don’t even need to pay for your flight with your credit card to get free checked bags, you just need to be a cardholder. WestJet’s loyalty program is WestJet Rewards which is a cash back based program. There’s no need to worry about points or blackout dates as you can use your WestJet dollars for pretty much anything.

Apply now for the WestJet RBC World Elite Mastercard Card

 

Tangerine Money-Back Credit Card

  • No annual fee
  • 2% cash back on up to 3 categories
  • .5% cash back on all other purchases
  • Automatic monthly redemption with no minimum balance required
  • Instantly pause your card
  • Adjust your credit limit online
  • Automatic pay my balance feature
  • Purchase assurance and extended warranty

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% cash back on three categories of your choice while all other spending earns you 0.5% interest. There is a World version of this credit card which 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.

Apply Now for the Tangerine Money-Back credit card

 

Rogers World Elite Mastercard

  • No annual fee
  • $25 in cash back rewards after your first purchase
  • Earn 4% cash back on purchases made in foreign currencies
  • Earn 2% cash back on Rogers products and services
  • Earn 1.75% cash back on all other purchases made in Canadian dollars
  • Mastercard Airport Experiences membership provided by LoungeKey (no passes)

Although the Rogers World Elite Mastercard charges the standard foreign transaction fee of 2.5%, it’s one of the best credit cards without foreign transaction fees because you get 4% cash back on all purchases made in a foreign currency. That means you’re earning 1.5% cash back on any purchase made that’s not in Canadian dollars. The standard earn rate is 1.75% which is impressive considering this card has no annual fee.

MBNA True Line Gold Mastercard

  • $39 annual fee
  • 0% interest rate on balance transfers for the first 6 months (3% fee)
  • 99% interest rate after the promotional period ends
  • 99% interest rate on cash advances

When you look at the list of the best credit cards in Canada, the MBNA True Line Gold Mastercard best one for those looking for a low interest rate and excellent balance transfer option. The balance transfer promotional rate is 0% for 12 months but a 3% fee does apply. Once your promotional period ends, your interest rate goes up to 8.99% but that’s still a great rate when you consider that most credit cards charge 19.99% interest or more.

Apply Now for the MBNA True Line Gold Mastercard