Choosing a credit card that eliminates foreign transaction fees can lead to substantial savings. If you spend several thousand dollars abroad or on foreign currency purchases, you could save over a hundred dollars in fees alone. These cards often come with additional travel perks, making them a practical choice for Canadians who travel internationally or shop across borders.

The best no foreign transaction fee credit cards in canada

Scotiabank Passport Visa Infinite* Card

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• $150 annual fee
• 40,000 Scene+ points when spending $2,000 in the first 3 months
• 10,000 points when spending $10,000 in the first six months
• 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

The Scotiabank Passport Visa Infinite Card stands out as a comprehensive option for travellers who prefer carrying a single card. This card charges an annual fee of $150 but delivers substantial value through its rewards program and travel perks.

You earn 3 Scene+ points per dollar at Empire-owned supermarkets, 2 points at eligible grocery stores, restaurants, entertainment venues, and on daily transit, plus 1 point on everything else. The bonus earning categories apply even when making purchases abroad in foreign currencies.

Travel benefits form the core appeal of this card. You receive a complimentary membership to the Visa Airport Companion Program through DragonPass, which includes six free lounge visits annually. Standard airport lounge access typically costs around US$99 yearly plus US$32 per visit, making this benefit valuable for frequent travellers.

The travel insurance package covers trips up to 31 days and includes medical emergencies, trip cancellation, trip interruption, lost baggage, and flight delay coverage. Additional perks include concierge services available 24/7, access to the Visa Infinite Hotel Collection with room upgrades and complimentary breakfast, and membership in the Dining and Wine Country program.

You also get a free Avis Preferred Plus membership, which provides faster rental car service and the ability to choose your vehicle. Priority Pass membership is not included, but the DragonPass access serves a similar purpose.

Eligibility: A minimum personal income of $60,000 or a household income of $100,000 or at least $250,000 in assets under management. A credit score of 700 is also recommended.
Welcome bonus: You’ll typically get 35,000 to 50,000 Scene+ points as the welcome offer. In most cases, you’ll need to spend a minimum amount in the first three months and another in the first 12 months for the full bonus.

Scotiabank Gold American Express® Card

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• $120 annual fee
• 30,000 Scene+ points when you spend $2,000 in the first 3 months
• 20,000 Scene+ points when you spend $7,500 in the first year
• Earn 6 Scene+ points per $1 spent at Empire owned supermarkets
• Earn 5 Scene+ points per $1 spent on grocery, dining, and entertainment
• Earn 3 Scene+ points per $1 spent on gas, and daily transit purchases
• Earn 1 Scene+ point on all other purchases
• No foreign transaction fees

The Scotiabank Gold American Express Card delivers exceptional earn rates that rival top-tier rewards cards in Canada. The annual fee sits at $120, making it slightly more affordable than the Passport card while still offering premium benefits.

Earning potential is where this card excels. You collect 6 Scene+ points per dollar at Empire-owned grocery stores, 5 points at other grocery stores, plus dining and entertainment purchases, 3 points on gas, public transit, rideshares, and streaming services, and 1 point on all other spending.

One important distinction exists with foreign transactions. While you won’t pay foreign transaction fees, purchases made in currencies other than Canadian dollars only earn the base rate of 1 point per dollar. The bonus categories don’t apply to international spending.

The card provides a comprehensive travel insurance package covering trips up to 25 days, including emergency medical coverage, trip cancellation and interruption, baggage loss and delay, and rental car coverage. Mobile device insurance protects your phone or tablet against damage and theft when you purchase the device with your card.

You also receive airport lounge access, though unlike the Passport card, you don’t get complimentary passes. You’ll need to pay per visit or purchase a membership separately if you want to use this benefit.

Eligibility: There’s no minimum income requirement. A credit score of at least 700 is recommended.
Welcome bonus: Typically worth between 40,000 and 60,000 Scene+ points when. To get the full bonus, you usually need to meet multiple minimum spending requirements.

EQ Bank Card

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• $20 referral bonus (must fund account with $100 within 30 days)
• No monthly fees
• 0.5% cash back on all purchases
• Free withdrawals from any ATM in Canada
• No foreign transaction fees
• Earn 2.50% interest until you spend

The EQ Bank Card functions as a prepaid card with unique advantages for travellers. There’s no annual fee, and you earn 0.5% cash back on all purchases regardless of currency.

What makes this card particularly useful is that any balance loaded onto the card earns interest at a competitive rate. Your money grows even when you’re not spending it, which is uncommon for prepaid cards.

The standout feature is the ATM policy. You won’t pay foreign transaction fees when withdrawing cash from ATMs abroad. EQ Bank even reimburses ATM fees charged by other financial institutions in Canada. However, one-time fees charged by foreign ATM operators are not covered.

This approach gives you flexibility when travelling. Instead of exchanging currency before departure or upon arrival, you can withdraw local currency as needed. You can load additional funds to your card while abroad by sending yourself an e-transfer.

Since this is a prepaid card, you can only spend what you’ve loaded. This helps with budgeting and eliminates the risk of overspending. Prepaid cards don’t require a credit check or minimum income, making them accessible to nearly everyone.

Eligibility: Must have an EQ Bank account. No income or credit history is required.
Welcome bonus: You get a $20 cash bonus when signing up with a referral link and funding your account with $100 within 30 days of account opening.

Home Trust Preferred Visa Card

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• No annual fee
• No foreign transaction fees
• 1% cash back on Canadian purchases
• Purchase protection

The Home Trust Preferred Visa offers a straightforward approach with no annual fee and no foreign exchange fees. You earn 1% cash back on purchases made in Canadian dollars, but it doesn’t apply to foreign-currency transactions.

This card functions as a traditional credit card rather than a prepaid option. You don’t need to load funds in advance, and you receive a credit line based on your creditworthiness. This makes it more convenient than prepaid alternatives for those who qualify.

Benefits are minimal beyond the no forex fee feature. You get purchase security coverage for 90 days against theft, loss, or damage. No travel insurance, airport lounge access, or concierge services are included.

One quirk to note: customer service has historically blocked transactions made outside Canada for security reasons. Call before you travel to notify them of your plans and avoid having your card declined.

Eligibility: No minimum income is required. A credit score of at least 660 is recommended.
Welcome bonus: None.

Wealthsimple Cash Card

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• No annual fee
• Up to $3,000 welcome bouns
• 1% back in cash, stocks, or crypto on all purchases
• 4% interest on deposited funds
• No foreign transaction fees on purchases or ATM withdrawals
• CDIC insurance protection

Another prepaid credit card with no foreign transaction fees is the Wealthsimple Cash Card. All purchases earn you 1% back in cash, stock, or crypto. In addition, any funds you have loaded to your card earn interest. That means your money always grows even when you’re not spending it.

As a no fee, prepaid card, there aren’t any other benefits. The main draw here is the cash back earned and the no foreign transaction fees. You also won’t pay foreign transaction fees on ATM withdrawals. That said, most foreign ATM operators will charge you a one-time fee, and Wealthsimple limits your withdrawals to $500 CAD a transaction. There’s also a daily withdrawal limit of $1,000 CAD per day.

This card is very similar to the EQ Bank Card. Many people prefer the EQ Bank Card because you get $20 when signing up with a referral link. However, Wealthsimple does give you a higher cash back and savings interest rate.

Eligibility: Must have a Wealthsimple Cash account, but no income or credit history is required.
Welcome bonus: Up to $3,000 (it’s random)

Amazon.ca Rewards Mastercard

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• No annual fee
• $50 Amazon gift card at sign up
• 5% back at Amazon.ca, grocery stores and restaurants for six months after your account is opened
• 2.5% back at Amazon.ca, Whole Foods Market in Canada and foreign currency transactions
• 1% back per dollar spent on all other purchases

The Amazon.ca Rewards Mastercard is one of the best no foreign transaction fee credit cards in Canada, but it flies under the radar. You’ll earn 2.5% back at Amazon.ca, Whole Foods and foreign transactions. All other purchases earn you 1% back. However, you must be an Amazon Prime member to get this rate. Non-Prime members earn 1.5% back at Amazon.ca and Whole Foods, and 1% on foreign transaction fees. 

The cash back works like this. Once you’ve earned 2,000 points, a $20 Amazon.ca gift card is deposited into your account. Other benefits with the card include discounts at Avis and Budget Rent a Car, purchase assurance, extended warranty, and zero liability insurance. 

This card is only worth considering if you’re an Amazon Prime member and you do a lot of shopping on Amazon. The good news is that there’s no annual fee.

Eligibility: Must be an Amazon Prime member for the increased earning rate. No minimum income or credit score is listed.
Welcome bonus: A $35 Amazon.ca gift card is given instantly upon approval.

What are foreign transaction fees?

When you make a purchase in any currency other than Canadian dollars, an additional charge gets applied to the exchange rate. This applies to all international transactions, including online shopping in US dollars.

Even if you’re buying from a Canadian business, paying in a foreign currency typically triggers these charges. The fee is embedded directly in the exchange rate, making it difficult to spot on your credit card statement.

Charges from your card provider

Your credit card provider typically adds a 2.5% foreign transaction fee to international purchases. Some providers charge up to 3.5%, depending on the card you hold.

Here’s what these forex fees mean for your spending:

• $1,000 in foreign purchases = $25 to $35 in fees
• $2,000 in foreign purchases = $50 to $70 in fees
• $5,000 in foreign purchases = $125 to $175 in fees

These currency conversion fees accumulate quickly, especially if you travel frequently or shop internationally online.

Charges from payment networks

Visa, Mastercard, and American Express apply their own small fees for currency conversion. These charges are much smaller than provider fees.

The payment networks use slightly different exchange rates than the official rate available to financial institutions. Here’s a comparison when converting 1 CAD to USD:

• Official exchange rate – 0.77118
• Visa exchange rate – 0.77333
• Mastercard exchange rate – 0.77255

Mastercard offers marginally better rates than Visa, though the difference is minimal in practice. American Express uses comparable rates but doesn’t publish them publicly.

You can check current conversion rates through xe.com, along with Visa and Mastercard’s websites. Understanding both types of fees helps you calculate the true cost of foreign currency transactions.

How Are Foreign Transaction Fees Calculated?

Your credit card company sets the foreign transaction fee, which typically appears in your cardholder agreement. The fee structure combines two main components: the currency conversion fee and the network’s exchange rate.

Visa and Mastercard each apply their own exchange rates when processing international purchases. These rates differ from the mid-market rate, which represents the true wholesale price between currencies. The gap between what you pay and the mid-market rate contributes to the total cost of your foreign purchase.

Exchange rates fluctuate based on currency market conditions. Economic events, political stability, and supply and demand for specific currencies all influence these rates daily. Your card issuer applies the rate that’s active when your transaction processes, not necessarily when you make the purchase.

Most Canadian credit cards add a 2.5% fee on top of the exchange rate used for currency conversion, though some cards charge between 1% and 3%.

Should I Pay in the Local Currency or CAD?

When making purchases abroad, merchants may offer you the choice between paying in the local currency or Canadian dollars through dynamic currency conversion. You should always select the local currency option. Your credit card issuer will convert the transaction using their exchange rate, which is typically more favourable than the payment processor’s.

Choosing to pay in CAD means accepting the merchant’s conversion rate, which includes a markup. This additional cost varies by processor but consistently exceeds the conversion rate your card provider uses. Even if your card doesn’t charge foreign transaction fees, paying in local currency remains the better option because you avoid the inflated merchant conversion rates.

Credit cards without foreign exchange fees make this choice even more advantageous. You receive competitive exchange rates without any percentage-based surcharges, maximizing your purchasing power overseas.

Do Foreign Transaction Fees Apply to ATMs?

Using a credit card at an ATM abroad triggers a cash advance, which means you’ll face immediate interest charges exceeding 22%. A foreign transaction fee also applies on top of this, and the ATM operator may charge their own service fee. This combination makes traditional credit cards a poor choice for withdrawing cash overseas.

Prepaid cards offer a better alternative. Cards like the Wealthsimple Cash Card and EQ Bank Card function like debit cards and don’t charge foreign transaction fees or interest on ATM withdrawals abroad. These cards provide access to cash without the costly charges associated with credit card advances.

Standard debit cards aren’t ideal either. Banks typically charge foreign transaction fees between 2.5% and 3.5% when you use your debit card at an international ATM. Both your bank and the ATM provider will likely apply one-time usage fees.

Is a No Foreign Transaction Fee Credit Card Worth It?

You should strongly consider getting a no foreign transaction fee credit card to avoid paying unnecessary charges on international purchases. Most cards charge 2.5% on foreign currency transactions, which accumulates quickly when you travel or shop online from international retailers.

Consider this scenario: if you spend $4,000 during a vacation abroad using a card that charges foreign exchange fees, you’ll pay an extra $100 in fees alone. That amount could cover a quality restaurant experience or another activity during your trip.

Numerous credit cards waive these fees entirely, so you can select one that aligns with your spending habits and preferences. Even if you only use the card occasionally throughout the year for international transactions, you’ll save money every time you avoid foreign transaction fees. There’s no compelling reason to pay extra when alternatives exist that eliminate these charges completely.

The savings become more significant if you travel frequently or regularly purchase from foreign websites. Choosing a card without foreign transaction fees makes financial sense for anyone who makes purchases in currencies other than Canadian dollars.

How to Select a Credit Card Without Foreign Transaction Fees

When comparing cards from your shortlist, several factors will help you identify the right option for your needs.

Consider whether you prefer a no-fee credit card or are comfortable paying an annual fee in exchange for premium perks. Cards with annual fees often offer added benefits such as airport lounge access, car rental discounts, and travel insurance coverage.

Key factors to evaluate:

• Card benefits – Review what extra features matter to you, such as travel insurance or rental vehicle protection
• ATM withdrawal costs – Some cards waive fees when you take out cash abroad
• Rewards structure – Certain cards offer cash back that can offset other costs, while others simply don’t charge foreign transaction fees
• Welcome bonuses – New cardholders may receive promotional offers worth considering
• Purchase APR – Check the interest rate if you plan to carry a balance

Your spending habits and travel frequency should guide your decision. A card with an annual fee might deliver better value if you travel regularly and use the included benefits.

Frequently Asked Questions

Are foreign transaction fees refunded?

Foreign transaction fees are generally not refundable once charged to your account. These fees become part of your transaction total and are processed immediately with your purchase.

If you notice an incorrect fee on your statement, you can contact your card issuer to dispute it. Document the transaction details and explain why you believe the charge is wrong. Your issuer will investigate and may credit your account if they find an error.

The most effective approach is to avoid these fees altogether by using a card that doesn’t charge them. Prevention saves you the time and effort of seeking refunds that may not be granted.

What Makes US Dollar Cards Different from No-FX-Fee Cards?

US dollar credit cards and no foreign transaction fee cards serve different purposes. A US dollar card bills your purchases in American currency, which you then pay in USD from a US dollar account.

No foreign transaction fee cards bill in Canadian dollars but don’t charge the standard 2.5% conversion fee. You still pay in CAD, but the exchange rate is applied without an additional markup.

US Dollar Cards:

• Require a US dollar bank account for payments
• Best for frequent US travellers
• Avoid conversion fees on USD purchases only
• Still charge fees for other currencies

No Foreign Transaction Fee Cards:

• Bill in Canadian dollars
• Work for all foreign currencies
• No extra account needed
• Apply exchange rates without added fees

If you primarily travel to the United States and maintain USD accounts, a US dollar card may suit you. For worldwide travel or varied currency use, a no-fee card offers more flexibility.

What Other Options Exist Besides No-FX-Fee Cards?

Prepaid travel cards provide an alternative for managing foreign currency expenses. You load these cards with funds before travelling and use them like debit cards abroad. Many charge lower fees than traditional cards, though they may have loading and ATM withdrawal costs.

Digital payment services and mobile wallets sometimes offer competitive exchange rates. However, their acceptance varies by location and merchant, limiting their reliability as your sole payment method.

Alternative options include:

• Multi-currency prepaid cards
• Online payment platforms with international features
• Traveller’s cheques (largely outdated)
• Cash withdrawn from low-fee bank accounts

Each alternative has trade-offs in cost, security, and acceptance. No foreign transaction fee credit cards typically offer the best combination of convenience, protection, and value for most travellers. They work everywhere credit cards are accepted and require no advance planning or currency loading.

From balance transfers to cash advances, credit card fees in Canada can accumulate quickly. Luckily, most can be avoided with proper knowledge. Understanding the fee landscape helps you select the right card and use it wisely. Learn the major fee types, identify hidden costs, and apply smart strategies to save hundreds annually.

Understanding Credit Card Fees in Canada

Credit card fees range from $0 to over $770 annually, with extra charges for cash advances, foreign transactions, and late payments. These fees appear as separate line items on your monthly statement and vary widely among credit card providers.

Common Types of Fees

Before choosing a credit card, it’s crucial to understand the most common fees that can quietly add up and impact your bottom line.

• Annual fees: These are the most noticeable charges, ranging from $0 on basic cards to $120+ on core or premium travel or rewards cards.
• Interest charges: Apply when you carry a balance beyond the due date. Most Canadian cards charge 20% to 24% interest on unpaid amounts.
• Cash advance fees: Most cards immediately charge interest rates of 22% to 6% on cash advances.
• Foreign transaction fees: Add 2.5% to 3.5% to purchases made in non-Canadian currencies. Some cards waive this fee.
• Balance transfer fees: Usually 1% – 3% of the amount transferred to another card.

Why Credit Card Fees Exist

Credit card issuers charge fees to cover operational costs and generate revenue. Annual fees support premium perks such as travel insurance, concierge services, and enhanced rewards programs.

Interest charges compensate issuers for lending money when you carry a balance. Cash advance fees reflect the higher risk and immediate liquidity provided.

Foreign transaction fees cover costs for currency conversion and international processing. Late payment and returned payment fees discourage risky payment behaviour and cover administrative expenses.

Premium cards with higher annual fees usually provide better rewards and exclusive perks. No-fee cards generally have fewer benefits but offer basic features without yearly charges.

How Credit Card Fees Appear on Statements

Your credit card statement itemizes every fee with a clear label:

• Annual fees are posted annually, typically on your account anniversary.
• Interest charges appear under headings such as “Interest on Purchases” or “Interest on Cash Advances,” complete with detailed calculations.
• Cash advance fees are displayed immediately after the transaction is posted.
• Foreign transaction fees are included in the exchange fee for any purchase not made in Canadian dollars. This is the one fee that isn’t very transparent.
• Balance transfer fees are applied immediately upon completion of the transfer.

Your issuer must clearly identify each fee type and amount on your monthly statement to ensure full transparency.

Major Credit Card Fees and How to Avoid Them

Credit card issuers charge various fees that can quickly erode your rewards and increase your debt. The four most significant fees affecting Canadian cardholders are annual fees, foreign transaction fees, interest charges, and late payment fees.

Annual Fees

Annual fees for credit cards can range from $0 to over $799, depending on the card’s rewards program and travel perks. Premium travel cards typically charge $120 or more per year, while basic cards often come with no annual fee at all.

Cards with annual fees usually offer enhanced rewards, comprehensive travel insurance, airport lounge access, and other high-value benefits. The real question is: do the perks outweigh the cost?

How to avoid annual fees:

• Opt for no-fee cards if you don’t need premium features
• Look for first-year fee waivers when signing up
• Open a bank account that offers fee waivers on select cards
• Choose cards with benefits that exceed the fee, like the Marriott Bonvoy American Express Card, which offers a free night certificate each year

Foreign Transaction Fees

Whenever you make purchases in a foreign currency or shop with international merchants, foreign transaction fees may apply. Most Canadian credit cards charge 2.5% on these transactions. You might not even notice it because it’s often embedded in the exchange rate.

If you’re offered the choice to pay in Canadian dollars or the local currency, always choose the local currency. Paying in Canadian dollars triggers dynamic currency conversion, where the merchant sets the exchange rate – often at a markup.

How to avoid foreign transaction fees:

• Use a prepaid card that has no foreign exchange fees, like the EQ Bank Card
• Get a no FX credit card, such as the Scotiabank Gold American Express or the Scotiabank Passport Visa Infinite

Interest Charges

Interest begins to accrue when you carry a balance past your payment due date. In Canada, the average annual percentage rate (APR) is around 19.99%, but it can rise above 22% for cash advances.

Interest is calculated daily on any unpaid balance, based on your average daily balance throughout the billing cycle, so even small balances can accumulate quickly.

How to avoid interest charges:

• Pay your full balance by the due date every month
• Take advantage of the 21-day grace period minimum

The grace period only applies to purchases, not cash advances or balance transfers. Missing even one payment can trigger penalty rates that make carrying debt significantly more expensive.

Late Payment Fees

Late payment fees range from $25 to $48 when you miss your minimum payment deadline. Some cards also impose penalty interest rates after late payments.

Beyond the immediate fee, late payments can damage your credit score and may result in higher interest rates on future balances.

How to avoid late payment fees:

• Set up automatic minimum payments
• Use online banking to avoid mail delays
• Call your issuer immediately if you miss a payment

The grace period does not apply to cash advances or balance transfers. Additionally, missing two payments can result in a negative impact on your credit score.

Other Common and Hidden Credit Card Fees

Beyond annual fees and interest charges, several less obvious fees can substantially increase your credit card costs. These charges often catch cardholders off guard and can total hundreds of dollars each year if you’re not cautious.

Over-the-Limit and Overdraft Fees

Over-the-limit fees happen when you go over your credit limit on purchases or interest charges. Most Canadian credit card providers charge between $25 and $35 for each incident. Some cards automatically decline transactions that would push your balance over the limit, while others allow the transaction but charge the fee right away.

How to avoid over-the-limit fees:

• Set up account alerts when you reach 75% of your limit
• Check your balance regularly through mobile apps
• Pay down your balance before you receive your statement
• Request a credit limit increase if you consistently approach your limit

Overdraft protection fees are separate but related. These fees apply when your bank account doesn’t have enough funds to cover a credit card payment, usually costing $45 each time.

Balance Transfer Fees

Balance transfer fees range from 1% to 5% of the transferred amount, with most Canadian cards charging 3% to 3.5%. On a $5,000 transfer, you’ll pay $150 to $175 upfront.

Some promotional offers waive balance transfer fees entirely. These deals typically last 6 to 12 months but require excellent credit scores.

Key considerations for balance transfers:

• Calculate whether the fee outweighs interest savings
• Factor in the promotional interest rate duration
• Read the fine print for minimum transfer amounts
• Avoid making new purchases on the destination card

Many cards also impose minimum balance transfer fees of $5 to $10, even on small amounts.

Cash Advance Fees

Cash advances are among the most expensive credit card transactions. You’ll usually pay a fee of $10 or 3.5% of the amount withdrawn, whichever is greater.

Unlike regular purchases, interest starts accumulating immediately, with no grace period. To make things worse, most cards charge a higher interest rate on cash advances, usually between 22% and 25% annually.

Alternatives to cash advances:

• Use your debit card at ATMs instead
• Consider a line of credit for emergency funds
• Ask friends or family for short-term loans

Tips for Minimizing and Avoiding Credit Card Fees

Strategic card selection paired with proactive account management can help you avoid nearly all fees. Focus first on finding cards that match how you spend, then put automated safeguards in place, like autopay reminders, to steer clear of penalties.

Choosing the Right Credit Card

Your spending habits should guide your choice of credit cards. If you travel internationally often, select cards that do not charge foreign transaction fees, such as the Scotiabank Gold American Express Card, which waives the usual 2.5% fee on foreign purchases. 

Cards without annual fees are ideal for infrequent users, providing basic rewards without ongoing costs. However, frequent spenders might see more value in premium cards that offer higher rewards, outweighing the annual fee. 

Key features to prioritize:

• No foreign transaction fees for travellers
• Low or no annual fees for occasional users
• Reward categories aligned with your spending habits

Think about your credit score when applying. Premium cards need excellent credit, while basic cards accept lower scores without extra fees.

First Year Free Cards

Some credit cards waive annual fees during the first year, offering access to enhanced benefits without immediate costs. This approach is especially useful for testing whether a card’s perks justify its ongoing annual fee. 

First-year promotions often include higher welcome bonuses. You can earn significant points or cashback while avoiding the annual fee entirely. Cancel before the second year if the benefits do not justify the cost.

Popular first-year waiver options:

• Travel cards with lounge access
• Premium rewards cards with bonus categories
• General travel rewards via a bank loyalty program

Monitor your anniversary date closely. Set calendar reminders two months ahead to assess whether maintaining the card remains financially worthwhile. Many cardholders forget and face unexpected charges.

Annual Fee Waived With Specific Bank Accounts

Banks often waive credit card annual fees if you keep qualifying accounts with them. This relationship banking strategy can help you avoid fees on premium cards permanently. 

TD Bank and some other institutions offer fee waivers when you maintain chequing accounts with a minimum balance. The required threshold usually ranges from $3,000 to $6,000 in total deposits.

Common waiver requirements:

• Maintain minimum balance in chequing account
• Set up direct deposit for employment income
• Keep multiple products with the same bank

Calculate whether the required balance earns enough interest elsewhere to cover the annual fee. If your savings account pays 4% yearly, maintaining $5,000 to avoid a $120 fee costs you $200 in lost interest.

Some banks waive fees based on the overall relationship value rather than specific account types. Your mortgage, investments, and deposits might collectively qualify for waivers across multiple credit cards.

Setting Up Automatic Payments

Automatic payments help avoid late fees and protect your credit score from missed payments. Set up payments for at least the minimum amount due, ideally the full balance, to prevent interest charges. 

Your credit card payment should be made several days before the due date to account for processing delays. Weekend and holiday schedules can cause delays in transfers between different financial institutions.

Payment automation options:

• Full balance payment to avoid all interest
• Fixed dollar amount above minimum requirements
• Minimum payment only as backup protection

Check your bank account balance before automatic payments go through. Insufficient funds can lead to dishonoured payment fees from both your bank and credit card company, potentially costing $50 or more overall.

While these premium spaces were once available exclusively to business class travellers or those with elite airline status, credit cards have made lounge access available to all travellers. Several Canadian credit cards now offer airport lounge privileges as part of their benefits packages, ranging from unlimited access to a fixed number of free visits annually.

When selecting a credit card with lounge benefits, you’ll want to consider several factors: the type and number of lounges available, guest privileges, annual fees, and additional travel perks. Cards like the American Express Platinum offer extensive global lounge access through their Global Lounge Collection, while others provide entry to specific networks such as DragonPass or Plaza Premium. Your travel patterns will determine which card delivers the best value for your needs.

American Express Platinum Card

• $799 annual fee
• Earn 90,000 Membership Rewards points when using a referral link and spending $10,000 in the first 3 months
• 50,000 additional points when making any purchase in months 15 – 17
• Earn 2 points per $1 spent on dining and travel, and 1 point on all other purchases
• $200 annual travel credit
• $200 annual dining credit (per calendar year)
• Unlimited airport lounge access
• MESSAGE ME FOR A REFERRAL LINK

When looking at the best airport lounge access credit cards in Canada, the first one you need to consider is the American Express Platinum Card. With this card, you and a guest get unlimited access to the American Express Global Lounge Collection. That’s more than 1,200 lounges in 130+ countries you can visit. Generally, just about every major airport in the world will have a lounge that you can access with your Platinum Card.

The one downside is that the annual fee of the Platinum card is quite high at $799. However, you do get an annual travel and dining credit of $200 each, so that effectively makes your annual fee just $399. You also get a generous welcome bonus, higher loyalty status with Marriott Bonvoy, and great travel insurance. I personally never travel without this card. Note that you can get an increased welcome offer when signing up with a referral link.

Eligibility: There’s no minimum income required. A credit score of 740 is recommended before applying.
Welcome bonus: Typically worth 80,000 to 100,000 American Express Membership Rewards points when using a referral link. The minimum spending requirement is usually $5,000 to $10,000.

American Express Business Platinum Card

• $799 annual fee
• Earn 80,000 Membership Rewards points with a referral link when spending $15,000 in the first 3 months when using a referral link
• 40,000 additional points when making any purchase in months 14 – 17
• Earn 1.25 points per $1 spent on all purchases
• Unlimited airport lounge access
• $200 annual travel credit
• $120 annual wireless credit
• Marriott Bonvoy Gold Elite Status
• MESSAGE ME FOR A REFERRAL LINK

As the name implies, the American Express Business Platinum is the business card version of the Platinum card. This card also has an annual fee of $799 and you also get the $200 annual travel credit. Although you don’t get the dining credit, you do get wireless and Dell credits. The earn rate is a flat 1.25 points per $1 spent. You and a guest still get unlimited lounge access to the American Express Global Lounge Collection.

What makes this card appealing over the consumer version is that the welcome bonus is typically higher. It’s often the highest one available in Canada. In addition, the American Express Membership Rewards points you earn are incredibly valuable as you can transfer them to Aeroplan and Marriott Bonvoy. Alternatively, you could use them on the American Express Fixed Travel Program, and this could allow you to increase the value of your points.

Some people will not apply for this card if they don’t have a business, but American Express rarely verifies the information you put on your application.

American Express Aeroplan Reserve Card

• $599 annual fee
• Earn 60,000 points when spending $7,500 in the first 3 months
• Earn 25,000 points per month when spending $2,500 in month 13
• 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
• MESSAGE ME FOR A REFERRAL LINK

In my opinion, the best airport lounges in Canada are Air Canada’s Maple Leaf Lounges and Air Canada Cafes. Normally these are only available to people flying in business class or have 50K Aeroplan status, but you and a guest can get unlimited access if you have the American Express Aeroplan Reserve Card.

One thing to note is that you only get access to Maple Leaf Lounges in North America. In addition, you get a PriorityPass membership, but no free annual passes are provided. Some people prefer this card over other premium Aeroplan credit cards because you get a slightly higher earn rate and when you refer friends to this card, you get a 10,000 Aeroplan points bonus. The annual fee is $599.

Eligibility: No minimum income is required. A credit score of at least 700 is recommended before applying.
Welcome bonus: The welcome offer is usually worth 80,000 – 120,000 Aeroplan points. To get the full bonus, you usually need to meet multiple minimum spending requirements.

TD Aeroplan Visa Infinite Privilege Card

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• $599 annual fee
• Earn 20,000 Aeroplan points after your first purchase
• Earn 35,000 Aeroplan points when you spend $12,000 in the first 180 days
• Earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of account opening
• Earn 2 Aeroplan points per $1 spent on Air Canada purchases, 1.5 points on gas, and groceries, and 1.25 points on all other purchases
• First bag checked free, priority check-in & boarding on Air Canada flights
• Maple Leaf Lounge access in North America
• Visa Airport Companion Program + 6 free annual passes

The TD Aeroplan Visa Infinite Privilege Card is one of the best airport lounge access credit cards in Canada because you and a guest get unlimited access to Maple Leaf Lounges in North America. In addition, you get DragonPass lounge access + six free annual passes.

This card, along with the CIBC Aeroplan Visa Infinite Privilege are the only credit cards with lounge access that give you access to Maple Leaf Lounge and the DragonPass network. This is incredibly convenient as you can use your lounge passes when there’s no Maple Leaf Lounge available. The obvious downside is that you only get six annual passes. The card also comes with an annual fee of $599.

If you travel a lot internationally, the Platinum Card is likely better for lounge access. But if you mainly travel domestically, the TD Aeroplan Visa Infinite Privilege Card and American Express Aeroplan Reserve Card should be your top choices.

Scotiabank Passport Visa Infinite* Card

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• $150 annual fee
• 40,000 Scene+ points when spending $2,000 in the first 3 months
• 10,000 points when spending $10,000 in the first six months
• 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 of the best credit cards with lounge access come with high fees since you get unlimited access. However, if you’re looking for a flexible travel card with an annual fee of just $150, you should consider the Scotiabank Passport Visa Infinite Card. Not only do you get six annual lounge passes that are good for any lounge in the Visa Airport Companion Program (DragonPass). In addition, the card has no foreign exchange fees.

Only this card, and the Scotiabank Passport Visa Infinite Business Card give you airport lounge access and no foreign transaction fees, so it’s not hard to see why they’re popular.

Eligibility: A minimum personal income of $60,000 or a household income of $100,000 or at least $250,000 in assets under management. A credit score of 700 is also recommended.
Welcome bonus: You’ll typically get 35,000 to 50,000 Scene+ points as the welcome offer. In most cases, you’ll need to spend a minimum amount in the first three months and another in the first 12 months for the full bonus.

American Express Gold Rewards Card

• $250 annual fee
• Earn 5,000 Membership Rewards points when spending $1,000 each month for 12 months (60,000 points total)
• 10,000 additional points when using a referral link and spending $4,000 in the first 3 months
• Earn 2 Membership Rewards points per $1 spent on grocery, gas, pharmacy, and travel purchases
• Earn 1 Membership Rewards point per $1 spent on all other purchases
• $100 Annual travel credit
• Priority Pass Membership + 4 annual Plaza Premium passes
• MESSAGE ME FOR A REFERRAL LINK

When the American Express Gold Rewards Card was refreshed, they specifically added four free annual passes to Plaza Premium lounges. This was relevant because, at the time, Plaza Premium had pulled out of its agreement with Visa. That meant cardholders couldn’t use their passes at Plaza Premium lounges anymore. The problem was that most lounges in Canada were Plaza Premium, so cardholders found it difficult to use their passes.

About a year after the change, Visa switched to DragonPass, which restored access to Plaza Premium, so now everything is back to normal.

The question is, why would you choose the American Express Gold Rewards Card over others that give you more free annual passes? Simply put, Membership Rewards are more valuable than Scene+. Over the course of a year, the points you earn will likely be worth more than the two lounge passes you didn’t get.

BMO Ascend World Elite* Mastercard®*

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• $150 Annual fee – First year free*
• Get 45,000 BMO Rewards points when you spend $4,500 in the first 3 months, and 3,750 points for each subsequent month in which you make at least $2,500 in purchases on your card, for 12 months
• Earn 5 BMO Rewards points per $1 spent on travel
• Earn 3 BMO Rewards points per $1 spent on dining, entertainment, and recurring bills
• Earn 1 BMO Rewards point per $1 spent on all other purchases
• Complimentary membership in Mastercard Travel Pass provided by DragonPass, plus 4 annual passes

The BMO Ascend World Elite™* Mastercard®* comes with four free airport lounge passes, and the annual fee is waived for the first year, so you check out some lounges for free. Your earn rate is 5 BMO Rewards points per $1 spent on travel; 2 points on dining, entertainment, and recurring bills; and 1 point for all other purchases. While that may seem appealing, 1 BMO Rewards point is worth just .67 cents, so the overall earn rate is not the best. That said, it’s still one of the best BMO credit cards.

CIBC Aventura Visa Infinite Card

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• $139 annual fee – First year free
• 15,000 Aventura points when you make your first purchase
• 20,000 Aventura points when you spend $3,000 in the first 4 months
• Earn 2 points per $1 spent on CIBC travel
• Earn 1.5 points per $1 spent on gas, grocery, and drug store purchases
• Earn 1 points per $1 spent on all other purchases
• Visa Airport Companion Program membership and 4 free annual passes

Many people forget that the CIBC Aventura Visa Infinite Card is one of the best airport lounge access credit cards in Canada. Not only do you get four free annual airport lounge passes to the DragonPass network, but you also get a rebate on your NEXUS membership. What’s interesting is that this card typically has a rebate on the annual fee for the first year. That means you can get airport lounge access for a year without having to pay an annual fee.

National Bank World Elite Mastercard

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• $150 annual fee
• Earn 5 points per $1 spent on grocery and restaurant purchases up to $2,500 per month. Then earn 2 points per $1 spent
• Earn 2 points per $1 spent on gas, electric vehicle charging, recurring bills and à la carte Travel
• Earn 1 point per $1 spent on all other purchases
• Unlimited access to National Bank Lounge at Montreal-Trudeau airport
• Annual $150 travel credit

If you’re based out of Montreal and fly internationally frequently, then you’ll want to consider the National Bank World Elite Mastercard since it gives you and a guest, and up to two children under the age age of 12, unlimited access to the National Bank Lounge. Since this lounge is considered the best in YUL and you can bring two children and a guest with you, the National Bank World Elite Mastercard is a great choice. The Montreal airport has a Maple Leaf Lounge, but no lounge is available via the American Express Global Lounge Collection.

Eligibility: Personal income requirement of $80,000 or a household income of $150,000. A credit score of 700 is recommended.
Welcome bonus: The welcome bonus has been anywhere from 0 to 50,000 points.

What is airport lounge access?

Airport lounge access provides a peaceful retreat from the bustling main terminal areas. These exclusive spaces offer a comfortable environment where you can relax before your flight or during layovers. Most major airports feature at least one lounge per terminal, with international hubs typically hosting multiple lounge options.

As airports become more crowded and flight delays become more frequent, these havens have gained popularity. Lounges usually offer a variety of amenities that can enhance your travel experience. You’ll often find:

• Complimentary food and beverages (both alcoholic and non-alcoholic)
• Fast, reliable Wi-Fi connections
• Comfortable seating areas
• Flight information displays
• Reading materials (newspapers and magazines)

Premium lounges may offer additional luxuries such as:

• Business centres with computers and printers
• Shower facilities
• Quiet areas with beds or sleeping pods
• Outdoor terraces or viewing areas

Most lounges operate from early morning (around 5 a.m.) until late evening (typically 10 p.m.), although some premium facilities remain open 24 hours. While lounges generally allow a three-hour stay before your departure, enforcement is often inconsistent relaxed.

You can gain entry to these exclusive spaces through various methods. The most common access programs include Priority Pass, which connects to over 1,300 lounges worldwide, and credit card benefits. Many premium credit cards include lounge access as a cardholder perk, though guest policies vary. Some limit you to two free guests, while others may charge for accompanying travellers.

Before visiting a lounge, it’s beneficial to research the specific amenities and access requirements, as these can vary significantly between facilities. This preparation ensures that you will maximize your lounge experience.

Types of Airport Lounge Networks

Airport lounges offer travellers a comfortable space to relax before flights, but navigating the different networks can be confusing. Understanding which networks align with your travel habits and credit card benefits can enhance your journey significantly.

Air Canada Maple Leaf and Airline-Specific Lounges

Major airlines maintain their own premium lounges at key hubs and popular destinations. Air Canada’s Maple Leaf Lounges can be found in 11 Canadian cities plus international locations including New York, Paris, London, Frankfurt, San Francisco and Los Angeles. Also note that Air Canada has Air Canada Cafe’s in Toronto and Montreal. These are grab and go style lounges.

If you’re flying business class on a Star Alliance partner airline, your boarding pass grants you access to their partner lounges as well. Airline-specific lounges typically offer superior amenities compared to independent options.

American Express Global Lounge Collection

American Express provides one of the most extensive lounge networks globally for Platinum cardholders. The Global Lounge Collection features exclusive Centurion Lounges, widely recognized as some of the best airport lounges available.

These premium spaces feature amenities like showers, gourmet food prepared by renowned chefs, and dedicated family rooms. When you have access to an American Express lounge, it’s generally worth seeking out as the quality typically exceeds other options.

Plaza Premium Network

Plaza Premium operates as a standalone brand of airport lounges with hundreds of locations globally. They manage most lounges found in Canadian airports and are integrated into larger networks like DragonPass.

Without a premium credit card providing complimentary access, you can purchase entry for approximately CA$50 per visit. Plaza Premium lounges offer consistent quality with comfortable seating, food options, and business facilities. That said, some of the Canadian options aren’t great.

DragonPass Program

DragonPass has emerged as Canada’s leading airport lounge network. Many premium Canadian credit cards include DragonPass membership through the Visa Airport Companion Program.

Its partnership with Plaza Premium is particularly valuable for Canadian travellers since Plaza Premium operates most domestic airport lounges. This connection ensures you’ll have accessible options when flying within Canada.

Priority Pass Membership

Priority Pass provides members access to VIP lounges worldwide through different membership tiers. Members pay annual fees based on their selected plan, with options ranging from pay-per-visit to unlimited access packages.

After a brief separation, Priority Pass has renewed its agreement with Plaza Premium, making its offering very similar to DragonPass. Conditions of use vary by membership level, with some credit cards offering complimentary Priority Pass memberships with limited or unlimited visits.

Mastercard Airport Experience by LoungeKey

Mastercard Airport Experience powered by LoungeKey grants entry to approximately 1,000 airport lounges globally. Through its partnership with DragonPass, cardholders gain access to their extensive network.

All Canadian World Elite Mastercard holders receive LoungeKey membership, though not all cards include complimentary visits. Check your card benefits to see if you receive free passes or need to pay per visit.

Visa Airport Companion Program

Visa Airport Companion serves as Visa’s equivalent to the Mastercard LoungeKey program, available exclusively to Visa Infinite and Visa Infinite Privilege cardholders. The service operates through DragonPass’s infrastructure.

Like LoungeKey, you’ll typically need to purchase individual passes unless your specific credit card includes complimentary visits. The programme grants access to independent airport lounges worldwide, with particularly good coverage in Canadian airports.

How to Get Airport Lounge Access

Purchasing a Membership

You can buy memberships to airport lounge networks for regular access. Basic memberships typically charge a fee per visit, while premium tiers offer unlimited access. Priority Pass is one popular option with various membership levels to suit different travel frequencies. Before purchasing, compare the coverage of lounges in airports you frequently visit to ensure good value for your investment.

Credit Card Benefits

Many premium credit cards include airport lounge access as a benefit. For example, the Scotiabank Passport Visa Infinite Card provides six free airport lounge passes, where as the American Express Platinum card gives the primary cardholder and one guest unlimited access.

Single-Visit Options

Don’t travel often? Consider purchasing a day pass instead. Many lounges sell one-time entry passes ranging from $32-$65 CAD. Plaza Premium Lounges, for example, charge about $45 for a single visit. While this might seem expensive, it can be worth the cost during long layovers when you factor in the free food, drinks, Wi-Fi, and comfortable seating.

Premium Cabin Tickets

When you fly business class, lounge access is typically included with your ticket. You’ll gain entry to your airline’s lounge or one operated by their alliance partners. For instance, an Air Canada business class ticket grants you access to Maple Leaf Lounges in Canada and partner lounges like Lufthansa’s when travelling abroad within the Star Alliance network.

Frequent Flyer Status

Regular travellers who’ve earned elite status with airlines often receive lounge privileges. Lower-tier status typically includes a few complimentary passes annually, while higher tiers offer unlimited access. This benefit makes achieving and maintaining status particularly valuable for frequent travellers who spend significant time in airports.

How to Choose a Credit Card with Lounge Access

How Often You Travel

Your travel frequency should be your primary consideration when selecting a credit card with airport lounge access. If you’re in the air several times a year, a card offering unlimited lounge visits provides excellent value. Premium travel cards often include Priority Pass or other lounge network memberships that allow you to escape the terminal chaos whenever you fly. For occasional travellers, cards offering a limited number of annual passes might be sufficient for your needs.

Your Travel Style

Consider your typical travel patterns when evaluating lounge access benefits. Do you primarily fly with one airline? Cards affiliated with specific carriers might offer dedicated lounge access that serves you better than general networks. For Canadian travellers who primarily use domestic airports, a card with Maple Leaf Lounge access might be ideal. However, if you frequently travel internationally, look for cards that connect to broader networks, like the American Express Platinum Card.

Cost vs. Benefit Analysis

Evaluate whether the lounge benefits justify the annual fee. Many premium travel cards charge $120 – $799 annually but provide valuable lounge access that would cost more if purchased separately. For example, if a card provides six lounge passes annually (typically valued at $32-$50 each) plus TSA PreCheck or Global Entry credits (worth up to $100), these benefits alone might exceed the annual fee. Don’t forget to calculate the value of bonus points earned from signup offers, which can often cover the first year’s fee entirely.

Additional Card Benefits

The best credit cards offer more than just lounge access. Look for comprehensive travel benefits such as:

• Travel insurance coverage (medical, trip cancellation, baggage)
• Statement credits for travel-related purchases
• No foreign transaction fees (saving you 2.5-3% on international purchases)
• TSA PreCheck or Global Entry fee reimbursement
• Priority boarding and free checked bags
• Annual travel credits that offset the card’s cost
• Mobile device insurance
• Bonus points on travel and dining purchases

Cards like the American Express Platinum or Scotiabank Passport Visa Infinite may have higher annual fees but provide robust benefits packages that include expedited security access and substantial statement credits in addition to premium lounge access.

Are guests allowed with an airport lounge access credit card?

Most credit cards offering airport lounge access provide some form of guest privileges, though specific policies vary by card. Typically, premium travel cards allow you to bring one guest into lounges at no extra charge. 

If you have a card that provides a limited number of complimentary lounge visits rather than unlimited access, you’ll need to use one pass per person. This means a family of four would require four separate passes.

Remember these important guest policy details:

• The primary cardholder must be present with guests
• Children under two years typically enter free (doesn’t count against guest allowance)
• Family travellers may benefit from having two cards with lounge benefits

For families regularly travelling together, consider getting a second lounge access card for your partner. This strategy allows each cardholder to bring one child as a complimentary guest, ensuring your entire family can enjoy lounge amenities together.

Are Airport Lounges Worth It?

Airport lounges can provide excellent value for travellers seeking comfort during their journey. When you consider the cost of food and beverages at airport restaurants, complimentary offerings in lounges quickly become attractive. A simple meal with a drink at an airport eatery might cost $25-30, while lounges provide these amenities at no additional charge once you’re inside.

The comfortable seating and private space are significant benefits that shouldn’t be overlooked. You can relax in a quieter environment, away from the hustle and bustle of the main terminal. This privacy also offers better security for your belongings when you need to step away momentarily.

Many credit cards now offer lounge access as a perk, which can offset their annual fees. Consider these key benefits:

• Complimentary food and drinks
• Comfortable seating and workspaces
• Quieter environment
• Wi-Fi access
• Charging stations

For travellers with long layovers, lounges become even more valuable. Having a comfortable place to rest, work, or freshen up can make a significant difference in your travel experience.

Be aware that credit card access has limitations. During peak travel periods, lounges may reach capacity and prioritize certain membership tiers over credit card holders. You might face restrictions or even be denied entry during particularly busy times, so it’s wise to have a backup plan.

How to Use Your Airport Lounge Credit Card

Getting into airport lounges with your credit card is straightforward when you know the steps. First, activate your eligible credit card and download the appropriate app for your card—whether it’s the Visa Airport Companion, Mastercard Airport Experiences, or Priority Pass app.

Register your card details in the app to access your digital lounge passes. Before travelling, check the app to find available lounges at your departure or connecting airports.

When you arrive at the lounge, you’ll need to present:

• Your boarding pass
• Your lounge pass (digital or physical)
• Your credit card (for American Express cardholders)

Remember these important points:

• Any guests travelling with you must have their own boarding passes
• Some premium card benefits include complimentary guest access
• Certain lounge amenities like showers may require reservations upon arrival

Take full advantage of the available features, including complimentary food, beverages, Wi-Fi, and comfortable seating. Most lounges also offer business facilities and reading materials to enhance your pre-flight experience.

How to Make the Most of Your Credit Cards with Lounge Access

Add an Additional Cardholder

Adding an additional cardholder to your premium travel credit card can be a clever way to extend lounge benefits. Most premium cards allow supplementary cardholders to enjoy the same lounge privileges, even when travelling separately. If your card offers unlimited lounge visits, your additional cardholder typically receives the same benefit. However, with cards that provide limited visits (such as six per year), you’ll need to share these visits between all cardholders.

Carry Multiple Credit Cards

For frequent travellers, having multiple cards with different lounge access programs makes perfect sense. For instance, pairing a TD Aeroplan Visa Infinite Privilege card (offering Maple Leaf Lounge access in North America) with an American Express Platinum Card (providing access to the Global Lounge Collection) creates a comprehensive lounge network. This combination ensures you’ll find comfortable spaces to relax at most major airports worldwide.

Popular Card Combinations:

• Amex Platinum + TD Aeroplan Visa Infinite Privilege
• CIBC Aventura + Scotiabank Passport Visa Infinite
• BMO World Elite + RBC Avion Visa Infinite Privilege

Apply for Separate Cards for Your Partner

Rather than adding your partner as a supplementary cardholder, consider having them apply for their own premium travel card. This strategy effectively doubles your lounge visits and guest privileges. For families with children, this approach is particularly valuable—turning six lounge passes into twelve, or allowing each parent to bring one child as a guest when you both have unlimited access cards.

Try Multiple Lounges During Layovers

If you have extended connection times and unlimited lounge access, don’t hesitate to visit multiple lounges at the same airport. While this may seem excessive, each lounge is different. One lounge may have better food than the other, while the other one may have a better area to rest. Some lounges may also have showers.

Frequently Asked Questions

Which premium credit cards provide complimentary airport lounge access?

Several premium credit cards in Canada offer airport lounge access as a key benefit. The American Express Platinum Card provides extensive lounge access through Priority Pass, Centurion Lounges, and Plaza Premium locations. The CIBC Aventura Visa Infinite Privilege and TD Aeroplan Visa Infinite Privilege both include six annual Priority Pass visits. BMO World Elite Mastercard provides complimentary Mastercard Airport Experiences access.

How do I check if my credit card includes Priority Pass lounge privileges?

Review your cardholder benefits on your issuer’s website or mobile app to verify if your credit card includes Priority Pass access. Many premium cards require you to separately enrol in Priority Pass after receiving your card. Keep in mind that activation isn’t automatic, and you’ll typically need to request your Priority Pass membership card or digital membership through your credit card provider.

Do any credit cards offer lounge access without yearly fees?

Currently, there are no Canadian credit cards that offer comprehensive airport lounge access without charging an annual fee. Lounge access is typically bundled with premium cards that have annual fees ranging from $120 to $699. However, some financial institutions occasionally waive the first year’s fee during promotional periods. 

Which banks issue credit cards with airport lounge benefits?

In Canada, several financial institutions offer credit cards with lounge access:

• TD Canada Trust: Aeroplan Visa Infinite Privilege
• CIBC: Aventura Visa Infinite Privilege
• RBC: Avion Visa Infinite Privilege
• Scotiabank: Passport Visa Infinite
• BMO: World Elite Mastercard
• American Express: Platinum Card, Business Platinum Card, Aeroplan Reserve

Each institution typically reserves these benefits for their top-tier cards with correspondingly higher annual fees and income requirements.

Is Priority Pass membership commonly included with lounge access credit cards?

Yes, Priority Pass membership is the most commonly included lounge access benefit with premium Canadian credit cards. However, the level of membership varies significantly between cards. Some provide unlimited visits with complimentary guest privileges, while others offer a limited number of free visits annually (typically 4-6). After exhausting your included visits, you’ll generally pay $32-50 per additional visit. Always check if your card includes the basic membership only (requiring payment per visit) or if it provides complimentary visits as part of the package.

That doesn’t mean having a metal credit card in Canada is less exclusive. It’s just easier to get one.  This isn’t a bad thing since credit card providers are recognizing that their top cardholders should be treated better. 

Of course, every metal card is different, so here are the best metal credit cards in Canada.

The best metal credit cards in Canada

American Express Platinum Card

• $799 annual fee
• Earn 90,000 Membership Rewards points when using a referral link and spending $10,000 in the first 3 months
• 50,000 additional points when making any purchase in months 15 – 17
• Earn 2 points per $1 spent on dining and travel, and 1 point on all other purchases
• $200 annual travel credit
• $200 annual dining credit (per calendar year)
• Unlimited airport lounge access
• MESSAGE ME FOR A REFERRAL LINK

The American Express Platinum Card was the first metal credit card in Canada. Honestly, if Amex never made this a metal card, I don’t think we’d see as many metal credit cards in Canada as we do now. When you look at the benefits of the Platinum Card, it is really not hard to see why this card gets so much hype.

As of September 26, the earn rate is 2 American Express Membership Rewards points per dollar spent on dining and travel. All other purchases earn you 1 point per dollar spent.

Although the earn rate may not seem impressive, this card does come with some great benefits. As of September 26, you get a $200 dining credit that’s given each calendar year. You also get an annual travel credit of $200, unlimited airport lounge access (including Centurion lounges) for two people, comprehensive travel insurance, hotel status upgrades, and more. The credits alone reduce your annual fee to $399 a year. When you factor in the other benefits, you’re getting more value than the annual fee. That’s why this card always makes the list of the best travel credit cards in Canada. 

Eligibility: No income requirement. A credit score of 740+ is recommended.
Welcome bonus: It’s typically worth 75,000 – 100,000 American Express Membership Rewards points. To get the offer, you usually need to spend $7,500 in the first three months.

American Express Business Platinum Card

• $799 annual fee
• Earn 80,000 Membership Rewards points with a referral link when spending $15,000 in the first 3 months when using a referral link
• 40,000 additional points when making any purchase in months 14 – 17
• Earn 1.25 points per $1 spent on all purchases
• Unlimited airport lounge access
• $200 annual travel credit
• $120 annual wireless credit
• Marriott Bonvoy Gold Elite Status
• MESSAGE ME FOR A REFERRAL LINK

The American Express Business Platinum Card is very similar to the regular Platinum Card, but it’s clearly aimed at business owners. Instead of getting an increased earn rate on a few different categories, the Business Platinum Card gives you a straight 1.25 American Express Membership Rewards points per dollar spent. While this may not seem as good as the Platinum card, it’s beneficial to business owners who make most of their purchases in “other” categories.

As for the benefits, you get unlimited airport lounge access for two, an annual $200 travel credit, Marriott Bonvoy Gold Elite status, travel insurance, extended warranty, and an annual $120 credit for wireless services. These credits and benefits greatly reduce the annual fee of $799 (As of Sept. 26, 2023).

Eligibility: No income requirement. A credit score of 740+ is recommended. You also technically need to have a business.
Welcome bonus: It usually hovers around 90,000 – 100,000 American Express Membership Rewards points and requires a minimum spend of about $10,000 within three months of account opening.

American Express Aeroplan Reserve Card

• $599 annual fee
• Earn 60,000 points when spending $7,500 in the first 3 months
• Earn 25,000 points per month when spending $2,500 in month 13
• 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
• MESSAGE ME FOR A REFERRAL LINK

If you want a metal credit card in Canada that earns you a lot of Aeroplan points, then you’ll want to look at the American Express Aeroplan Reserve Card. The earn rate is 3 Aeroplan points per dollar spent on Air Canada, 2 points on dining and food delivery (including Uber Eats), and 1.25 points on all other purchases.

As for the additional benefits, you get your first checked bag free, priority check-in and priority boarding on Air Canada. You also get unlimited access to Maple Leaf Lounges in North America. Comprehensive travel insurance, purchase protection, and buyer’s assurance are also included.

Since Air Canada is one of the top airlines in Canada, it’s worth getting this stainless steel card as Aeroplan often has promotions and perks where you can earn bonus points, travel rewards, and statement credits. This is as close as you’re going to get to a black card.

Eligibility: No income requirement. A credit score of 740+ is recommended.
Welcome bonus: Typically worth around 90,000 Aeroplan points. The spending requirement has been both a lump sum and a monthly minimum.

TD Aeroplan Visa Infinite Privilege Card

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• $599 annual fee
• Earn 20,000 Aeroplan points after your first purchase
• Earn 35,000 Aeroplan points when you spend $12,000 in the first 180 days
• Earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of account opening
• Earn 2 Aeroplan points per $1 spent on Air Canada purchases, 1.5 points on gas, and groceries, and 1.25 points on all other purchases
• First bag checked free, priority check-in & boarding on Air Canada flights
• Maple Leaf Lounge access in North America
• Visa Airport Companion Program + 6 free annual passes

The TD Aeroplan Visa Infinite Privilege Credit Card is TD’s top Aeroplan card. The earn rate is 2 Aeroplan points per dollar spent on Air Canada purchases, 1.5 points per $1 spent on gas, and groceries, and 1 point per dollar spent on all other eligible purchases.

Frequent travellers will love this card since you get Air Canada benefits, such as free checked bags, priority check-in, zone 2 boarding, and unlimited access to Maple Leaf Lounges in North America for you and a guest. This card is very comparable to some of the best Aeroplan credit cards in Canada.

Eligibility: Annual personal income of $150,000 or a household income of $200,000. A credit score of 740+ is recommended.
Welcome bonus: Typically worth 70,000 – 100,000 Aeroplan points. You’ll often need to spend $12,000 in the first year to get the full offer.

American Express Gold Rewards Card

• $250 annual fee
• Earn 5,000 Membership Rewards points when spending $1,000 each month for 12 months (60,000 points total)
• 10,000 additional points when using a referral link and spending $4,000 in the first 3 months
• Earn 2 Membership Rewards points per $1 spent on grocery, gas, pharmacy, and travel purchases
• Earn 1 Membership Rewards point per $1 spent on all other purchases
• $100 Annual travel credit
• Priority Pass Membership + 4 annual Plaza Premium passes
• MESSAGE ME FOR A REFERRAL LINK

The American Express Gold Rewards Card is one of the best metal credit cards in Canada since it’s highly versatile. The earning rate is 2 American Express Membership Rewards points per dollar spent on grocery, gas, drugstore, and travel purchases. All other purchases get you 1 point per dollar spent. This card is easily one of the best American Express cards.

As for the benefits, you get an annual $100 travel credit, a Priority Pass Membership + 4 annual Plaza Premium passes, a NEXUS rebate, travel insurance and purchase insurance. The card does have an annual fee of $250, but the yearly benefits are worth more than that.

Eligibility: No income requirement. A credit score of 740+ is recommended.
Welcome bonus: Typically worth between 50,000 – 65,000 American Express Membership Rewards points. The spending requirement has been both a lump sum and a monthly minimum.

CIBC Aventura Visa Infinite Privilege Card

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• $499 annual fee
• 25,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods
• 25,000 Aventura Points when you spend $3,000 or more in the first 6 monthly statement periods
• 30,000 Aventura Points anniversary bonus
• Earn 3 points per $1 spent on CIBC travel, 2 points on dining, eterntainment, transportation, gas, and groceries, and 1.25 points on everything else
• $200 annual travel credit
• Priority Pass Membership + 6 annual passes
• 2 NEXUS Application fee rebates

Does CIBC offer a metal credit card? Yes, it does in the CIBC Aventura Visa Infinite Privilege Card. This shouldn’t be a surprise since this is CIBC’s top-tier credit card that earns you CIBC Rewards points (often known as Aventura points).

The earn rate is 3 Aventura points per dollar spent on CIBC travel, and 2 CIBC Aventura points on dining, entertainment, transportation, gas stations, electric vehicle charging and grocery stores. All other purchases earn you 1.25 points per dollar spent. The benefits you get include a $200 annual travel credit, a Priority Pass Membership and 6 complimentary visits per year. In addition, you get 2 NEXUS application fee rebates.

Eligibility: Annual personal income of $150,000 or a household income of $200,000. 740+ credit score recommended.
Welcome bonus: Typically worth around 60,000 – 80,000 CIBC Aventura points. The spending requirement has been both a lump sum and a monthly minimum.

What is a metal credit card?

Most credit cards are made out of plastic, but as you can imagine, metal credit cards are made out of metal (stainless steel), so they’re luxury cards. The actual function of metal credit cards is exactly the same as a plastic credit card, including the APR, but they have enhanced durability. The only difference is the physical material. Some people love metal credit cards because they come with some clout. A metal credit card is reserved for top-tier cards, so pulling one out, rather than plastic cards to pay shows that you belong to an exclusive club.

There is no metal credit card that comes with no foreign transaction fees. There’s also no metal card in Canada that gives you annual statement credits, a cash bonus, or a free night award.

What credit score do I need to get a metal credit card?

The credit score you need to get a metal credit card is usually a closely guarded secret. Generally speaking, you’ll need excellent credit of at least 700 to be approved. That said, some credit card providers have a lower requirement. Keep in mind that some metal credit cards also have a minimum income requirement to be approved.

Which metal credit card in Canada has the best rewards?

When it comes to metal credit cards in Canada, most of them prioritize rewards that are best redeemed for travel. In this case, the American Express Platinum tends to come out on top of having the best rewards. That being said, you can also use rewards for merchandise and gift cards if you choose. You can take a look at the American Express Membership Rewards Guide here for more information. 

Earning rewards is easy with the American Express Platinum in that you will earn rewards for every purchase, and some at an accelerated rate. However, keep in mind that American Express cards are not as widely accepted as Visa or Mastercard.

How to get a metal credit card

Getting a metal credit card in Canada is easy as long as you meet the requirements. With American Express metal credit cards, there is no minimum income requirement, so those are the easiest ones to get. If you want a metal credit card from BMO, TD, or CIBC, you’ll likely need to have a personal income of $150,000 or a household income of $200,000. You’ll also have to be a Canadian resident and the age of majority in the province or territory where you reside. If you’re approved for one of the best metal credit cards in Canada, it’ll be mailed to you by default.

Here’s a step-by-step guide on how to get a metal credit card.

1. Browse the cards above
2. Click apply now
3. Check your eligibility requirements
4. Fill out your information or go to a branch to apply in person
5. Wait for approval
6. When the card arrives, activate it

Note that metal debit cards do not exist in Canada. Only metal credit cards are available. While it is possible to get a custom metal credit or debit card via a third-party, for security reasons, you’re better off not using this type of service.

How much does a metal credit card cost?

The cost of a metal credit card is dependent on the annual fee of your credit card. For example, the American Express Platinum Card has an annual fee of $699. The metal credit card with the lowest annual fee is the American Express Gold Rewards card at $250. That said, since you get an annual $100 travel credit, you’re really only paying $150 a year.

Are metal credit cards worth it?

This is a matter of opinion. Since metal credit cards don’t serve any additional function, they’re no different from regular credit cards. That said, as someone who has a metal credit card, I can tell you I love the weight and feel of them. More importantly, metal credit cards typically come with top-tier cards. When you look at the benefits included with metal credit cards, such as the welcome bonus, bonus miles earned, access to tickets and fine hotels through American Express, then it’s definitely worth it to have a metal card.

FAQ

What is the best metal credit card?

The best metal credit card will depend on your goals with the credit card. That being said, when it comes to the metal credit cards on this list, the Amex Platinum does offer the most travel benefits including access to airport lounges and a NEXUS rebate. Once you’re approved for NEXUS, you get global entry and TSA precheck access, which can save you a lot of time when travelling. The card has several transfer partners, has great conversion options for airfare, and also tends to have the highest welcome bonuses, which often earns it a title as the best metal credit card.

Which banks have metal credit cards?

There are only a few financial institutions that offer metal credit cards at this time, including:

• American Express
• Bank of Montreal (BMO)
• Canadian Imperial Bank of Commerce (CIBC)
• HSBC
• TD Bank

It’s worth noting that KOHO used to offer metal credit cards, but that’s no longer the case.

Metal American Express Cards in Canada

• American Express Platinum Card
• American Express Busines Platinum Card
• American Express Gold Rewards Card
• American Express Aeroplan Reserve Card
• American Express Aeroplan Business Reserve Card

Metal Mastercards in Canada

• HSBC Jade World Elite Mastercard

Metal Visa cards in Canada

• BMO eclipse Visa Infinite Privilege Card
• CIBC Aventura Visa Infinite Privilege Card
• CIBC Aeroplan Visa Infinite Privilege Card
• TD Aeroplan Visa Infinite Privilege Card
• KOHO Prepaid Visa (no longer available)

How do you destroy a metal credit card?

Disposing of a metal credit card because you got a new card or your current one has been compromised is tricky because it can’t be snipped with scissors like the plastic cards. You can get in touch with the credit card issuer and ask to mail it back. They will provide you with instructions and will destroy it for you. If the credit card provider has a physical bank location, you can also take it there. Finally, you can use tin snips and destroy it yourself at home.

Are metal credit cards better than plastic credit cards?

One card isn’t necessarily better than the other because of the material that it is made of. Metal cards tend to be status cards, and are usually the top tier cards with better travel perks, such as airport lounge access and discounts on car rentals (along with higher annual fees). However, while they look pretty good when you take them out of your wallet, they aren’t necessarily ‘better.’ The best credit card for you is the one that allows you to get the most out of the rewards program and the included perks and benefits.

Best no fee card for travel

American Express Green Card

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• 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 best no fee credit card in Canada for travel is the American Express Green Card. You’ll earn 2 American Express Membership Rewards points per $1 spent on hotels and car rentals booked via Amex Travel Online, while all other purchases get you 1 point per $1 spent. 

American Express Membership Rewards is incredibly Flexible. 1,000 points can be redeemed for a $10 statement credit. That means you can apply your points to travel or everyday purchases. That makes Membership Rewards a hybrid travel/cash back program, which will appeal to many people.

In addition, American Express has a fixed points travel program where you can double the value of your points when redeeming them for select flights. Alternatively, you can transfer your points to some travel loyalty programs such as Aeroplan and Marriott Bonvoy.

Eligibility: There’s no minimum income required. A credit score of 660 is recommended before applying.
Welcome bonus: It’s consistently been 10,000 points when you charge $1,000 to your card in the first three months of cardmembership.

Best no fee card for Aeroplan Rewards

CIBC Aeroplan Visa Card

• No annual fee
• 2,500 Aeroplan points when you make your first purchase
• 2,500 points when spending $1,500 in the first 4 months
• 5,000 points when spending $10,000 in the first 12 months
• Earn 1 Aeorplan point per $1 spent on gas, groceries, and Air Canada
• Earn 1 Aeroplan point per $1.50 spent on all other purchases

If you want to earn Aeroplan points but don’t want to pay an annual fee, the CIBC Aeroplan Visa Card is the best choice. Your earn rate is 1 Aeroplan point per $1 spent on gas, groceries, and Air Canada purchases. All other expenses get you 1 Aeroplan point per $1.50 spent. Generally speaking, 1 Aeroplan point is worth 1.5 to 2 cents each, so there’s some good value here.

Since Air Canada is the largest airline in Canada, it makes sense for people who want to save on travel to collect Aeroplan points. The points you’ve accumulated can be used for any available seat on Air Canada. This includes their mainline, Rouge, and Jazz. In addition, Aeroplan has 45+ airline partners that make some seats available for redemption with points. In other words, it’s possible to get to most destinations in the world on points.

Although this is a no fee card, you still get some basic benefits. Any purchases charged to your card are covered for 90 days from theft, loss, and damage. The manufacturer’s warranty is also doubled for up to one additional year. Note that despite this being a co-branded Aeroplan card, you get no Air Canada benefits.

Eligibility: Minimum income of $15,000. A credit score of at least 640 is recommended.
Welcome bonus: Typically 10,000 Aeroplan points after your first purchase.

Best no fee card for cash back

Tangerine Money-Back Card

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• 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

With the Tangerine Money-Back Credit Card, you get to pick two categories to earn 2% cash back. A third category is given if you have your cash back paid directly into your Tangerine account. Some categories include grocery, restaurants, gas, drug stores, and more. All other purchases earn you 0.5% cash back. It’s no surprise that this is one of the best no fee credit cards in Canada since no other card allows you to pick your bonus categories.

Unlike some of the best cash back credit cards in Canada, Tangerine pays out your rewards monthly, regardless of how much cash back you’ve accumulated. You can apply your cash back as a statement credit, or you can have it deposited right into your Tangerine Savings Account. Going the deposit route is more beneficial since it gives you access to that third 2% category.

It’s worth noting that there’s also a Tangerine World Mastercard available where you get additional benefits such as mobile device insurance (cell phone protection) and a Mastercard Travel Pass Provided By DragonPass (no free passes). You’ll automatically be considered for this card if you meet the higher minimum income requirement.

Eligibility: A personal income of $12,000. If you have a personal income of $60,000, a household income of $100,000, or a balance of $250,000 or more with Tangerine, you may qualify for the Tangerine World Mastercard. A minimum credit score of 660 is recommended.
Welcome bonus: Typically 10% cash back up to $1,000 in spending in the first two to three months. This bonus offer has been worth as much as 15%.

Best no fee cash back card for flat rate

SimplyCash Card from American Express

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• No annual fee
• Spend $300 each month and get a $10 statement credit for 10 months ($100 total)
• 2% cash back on groceries
• 2% cash back on gas purchases
• 1.25% cash back on all other purchases
• Buyer’s assurance
• Purchase protection

The SimplyCash Card from American Express is appealing since it gives you 2% cash back on gas and grocery purchases. All other purchases give you 1.25% cash back. While the increased earning rate on gas and groceries is great, each is capped at $15,000 in spending each year. Once you reach that cap, your earning rate drops to the base earning rate of 1.25%.

This increased flat rate is good for anyone who spends a lot outside of the standard enhanced categories. That said, with American Express, your cash back is paid out only once a year as a statement credit in January. This is annoying for some people since many cards now offer monthly payments.

On a positive note, you get some good benefits such as travel accident insurance, buyer’s assurance and purchase protection. In addition, you get access to American Express experiences, which include things such as front of the line presales, reserved tickets, and offers.

Eligibility: There’s no minimum income required. A credit score of 660 is recommended before applying.
Welcome bonus: New cardholders usually get a $10 statement credit when spending $300 each month for 10 months. That’s a total of $100 in statement credits you could earn.

Best no fee card for no foreign transaction fees

Wealthsimple Cash Card

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• No annual fee
• Up to $3,000 welcome bouns
• 1% back in cash, stocks, or crypto on all purchases
• 4% interest on deposited funds
• No foreign transaction fees on purchases or ATM withdrawals
• CDIC insurance protection

Without a doubt, the Wealthsimple Cash Card is the best no fee credit card without foreign transaction fees. Most Canadian credit cards charge you a fee of 2.5% whenever you make a purchase in any currency that’s not Canadian dollars, but not with the Wealthsimple Card. Instead, you just pay the spot rate. This applies to ATM withdrawals, too, but note that the local ATM may charge you a one-time fee.

In addition, you’ll earn 1% cash back on all purchases made. Plus, any funds you have deposited to the card earn you interest. Deposits are required since this is a prepaid card. That means your spending limit is tied to how much you have on your card. You also won’t earn a credit history since this isn’t a real credit card.

There are many no foreign transaction fee credit cards in Canada, but the Wealthsimple Cash Card is arguably the most convenient and gives you the most benefits. 

Eligibility: Must have a Wealthsimple Cash account, but no income or credit history is required.
Welcome bonus: Up to $3,000 (it’s random)

Best no fee cash back card for Rogers customers

Rogers Mastercard

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• No annual fee
• $60 cash back when you make a mobile wallet purchase within the first 90 days and 6 automatic payments within the first 8 months for your Rogers, Fido or Shaw postpaid service)
• 2% cash back on all purchases for Rogers, Fido and Shaw postpaid customers
• 1.5x redemption bonus on Rogers, Fido and Shaw purchase
• 5 Free Rome Like Home days

The Rogers Mastercard is the best no fee, cash rewards credit card. But there’s a catch. You must have at least one qualifying Rogers, Fido, or Shaw service to maximize your earning and rewards potential. If you meet the criteria, you’ll get 2% cash back on all your purchases. If you don’t have a qualifying service, you’ll only earn 2% cash back on U.S. dollar purchases and 1% cash back on everything else.

To sweeten the deal, if you apply the cash back you’ve earned to Rogers services or products, you’ll get an additional 30% in cash back. That works out to a flat earning rate of 2.6%, which is higher than some cards with an annual fee.

The other major benefit of this card is five free Roam Like Home days. That’s a value of up to $75, but only Rogers wireless customers can access Roam Like Home, so it’s useless if you’re with Fido or anyone else.

Eligibility: There’s no minimum income required. A credit score of 660 is recommended before applying.
Welcome bonus: 10% Cash back for 3 months (up to $100 in cash back earned).

Best no fee card for groceries

PC Financial World Elite Mastercard

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• 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

Anyone who shops at Loblaws-owned grocery stores, such as Loblaws, No Frills, and Superstore, should get the PC Financial World Elite Mastercard. The earning rate is 45 PC Optimum points per $1 spent at Shoppers Drug Mart, 30 points at Loblaws-owned grocery stores and Esso/Mobil gas stations, and 10 points on all other purchases. That works out to a 3% return at eligible grocery stores. It’s no wonder this card is on the list of the best no fee credit cards in Canada.

You can redeem 10,000 PC Optimum points for $10 off when buying groceries at Loblaws-owned stores. However, if you wait for bonus redemption events at Shoppers Drug Mart, you can get extra value. For example, some past promotions have included redeeming 200,000 points for $300 off. That’s an extra $100 in value.

This card is only beneficial if you shop at Loblaws-owned grocery stores. If you get your food from somewhere else, you’ll want to consider a different card.

Eligibility: A personal income of $80,000 or $150,000 is required. That said, two other PC Financial Mastercards have lower earning rates and a lower minimum income requirement. A credit score of 700 is recommended.
Welcome bonus: You can sometimes get up to 100,000 PC Optimum points when signing up in a store.

Best no fee card for students

Scotiabank Scene+®* Visa* Card

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• No annual fee
• 2,500 Scene+ points when you spend $250 in the first 3 months
• Additional 5,000 Scene+ points when you spend $1,000 in the first 3 months
• Earn 2 Scene+ points per $1 spent at Cineplex theatres, cineplex.com and Empire owned grocery stores
• Earn 1 Scene+ point per $1 spent on all other purchases

I personally recommend the Scotiabank Scene+ Visa Card to any student who who wants a no annual-fee card. The rewards you earn are useful to students, there’s a high chance of being approved if you bank with Scotiabank, and you get a minimum credit limit of $500.

As for the earning rate, you’ll get 2 Scene+ points per $1 spent at Empire-owned grocery stores (Sobeys, Safeway, Foodland & Participating Co-ops, FreshCo, etc.), Home Hardware, and Cineplex. All other exepnses earn you 1 Scene+ point per dollar spent.

When you’re ready to redeem your Scene+ points, you can redeem 1,000 points for $10 off Empire-woned grocery stores, Cineplex, and select restaurants (Swiss Chalet, Harvey’s, East Side Mario’s). This is ideal for students as it gives you discounts on groceries, entertainment, and dining. 

Eligibility: A personal income of $12,000 is required, but students may be approved without income. The recommended minimum credit score before applying is 660.
Welcome bonus: Typically worth 5,000 Scene+ points when spending $750 in the first three months.

Best no fee card for roadside assistance

Tangerine World Elite Mastercard

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• No annual fee
• Earn 4% in CT Money at Canadian Tire, Sport Chek, Mark’s/L’Équipeur, Atmosphere, Party City, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Sports Experts stores
• Earn 3% in CT Money on grocery purchases (up to $12,000), 1% on all other purchases
• Earn 7¢ per litre in CT Money on premium fuel, and 5¢ per litre on all other fuel types at Gas+/Essence+ locations
• Free Roadside Assistance Gold Plan
• No fee, no interest financing available

The Triangle World Elite Mastercard is a highly underrated card. The best benefit you get is the Roadside Assistance Gold Plan. This serviceperk normally costs $99.95 annually and gives you access to 24-hour tows, battery boosts, fuel delivery, flat tire changes and more. Each year, you’re entitled to give service calls up to 250 kilometres, but if you’re going to a Canadian Tire Auto Service centre within your limits, there’s no limit.

The earning rate for this card is also good. You’ll get 4% in CT Money at Canadian Tire, Sport Chek, Mark’s/L’Équipeur, Atmosphere, Party City, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Sports Experts stores, 3% at grocery stores (up to $12,000 per year) and 1% on all other purchases. If you fill up at Gas+/Essence+ locations, you get 7¢ per litre in CT Money on premium fuel and 5¢ per litre on all other fuel.

One other benefit of this card that’s worth mentioning is the no interest financing. When you make a purchase of $150 or more at participating Canadian Tire corporate-owned merchants, you can choose to pay for the purchase in installments over a one-year period. If your purchase is $500 or more, you get a two-year window. There are no additional fees or charges as long as you make your payments on time.

Eligibility: A personal income of $80,000 or $150,000 is required. A minimum credit score of 700 is recommended.
Welcome bonus: None.

Best no fee prepaid card

KOHO

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• No annual fee
• $20 for free when signing up with a referral link
• Earn up to 5% cash-back
• 1% cash back on groceries and transportation
• 0.5% interest on your spending and savings accounts with direct deposit set up

KOHO has quickly become one of the best prepaid cards in Canada. Although you won’t build your credit score when using this card, it does help you manage your money. Through the KOHO app, you can get a detailed breakdown of your spending. By analyzing this data, you can make adjustments to your budget. 

Even though this is a prepaid card, you can earn up to 5% cash back on your purchases. There’s a base earn rate of 1% cash back on grocery and transportation purchases. Select retail partners will give you 5% cash back. As for any money deposited to your card, you’ll get 0.5% interest. It is possible to get a higher earning and interest rate, but that requires a paid subscription.

Admittedly, if you want a prepaid card, the Wealthsimple Cash Card gives you a higher cash back and interest rate. However, KOHO has better tools if you’re looking to manage your spending.

Eligibility: None.
Welcome bonus: $20 when signing up with a referral link.

Best no fee card with low interest

MBNA True Line Mastercard

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• 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

Anyone who wants to focus on paying down their debt should consider the MBNA True Line Mastercard. A balance transfer promotional rate of 0% interest is available for 12 months, as long as new cardholders perform the transfer within 90 days of account opening. Although there’s a balance transfer fee of 3%, the interest you’ll save overall could be worth it.

Once the promotional period ends, your interest rate increases to 12.99%. That’s the same interest rate for new purchases. Despite this higher rate, it’s still much lower than most other credit cards, as they typically charge 20% – 24% interest. The idea here is to pay down your balance as quickly as possible before your rate goes back up.

Eligibility: There’s no minimum income requirement. A minimum credit score of 660 is recommended.
Welcome bonus: Balance transfer option with 0% interest for 12 months (3% fee applies).

Best no fee secured card

Neo Secured Credit Card

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• No annual fee
• Up to 15% cash back on first-time purchases at participating partners
• 5% Average cash back at over 12,000 Neo partners
• 0.5% minimum cash back guarantee (up to $50 per month)

The Neo Secured Credit Card is designed for people wit little to no credit history or who are looking to improve their credit score. Since the card has guaranteed approval and no annual fee, it can be a good choice for people in different situations.

Since this is a secured card, you need to load funds which act as a security deposit. Although you can’t use these funds to pay your balance, you will get the money back if you cancel your cards. Secured cards are designed for consumers who want to show that they’re responsible with credit. As long as cardholders use their cards responsibly, they should see their credit score increase over time.

What’s interesting about this secured credit card is that it offers cash back rewards. Neo claims the average cash back earned is 5%, but you’re guaranteed a minimum of 0.5% cash back if you average less than that.

Eligibility: You’re guaranteed to be approved for this card.
Welcome bonus: Up to 15% cash back on your first-time purchases at participating merchants.

What is a no fee credit card?

A no fee credit card is a credit card that doesn’t charge an annual fee. Unlike premium credit cards that often give you a generous welcome bonus when you spend a certain amount within three months of cardmembership, no fee cards typically have no or a limited welcome bonus. In addition, no fee cards typically have limited additional benefits.

That said, some premium credit cards have promotions where the annual fee is waived for the first year. That means you can test out the card for a year without paying any fees. That’s quite the incentive since you can get incredible benefits such as insurance coverage for car rentals and an increased earn rate on dining with select cards.

Fees that still apply

While the term ‘no-fee credit card’ is meant to refer to a credit card with no annual fees, the ‘no-fee’ part can be misleading. There are still other fees that you need to be aware of when holding these credit cards.

• Interest charges – If you do not pay off your credit card in full every month’s billing cycle  then you risk being charged interest charges on your credit card balance. Credit cards are known to have very high interest rates, around 20%, so this is something you want to avoid.
• Foreign transaction fees – If you shop online in a different currency or travel abroad and use your credit card to pay for something in a different currency then you will likely be charged foreign transaction fees. There are specific credit cards in Canada that waive these fees but most don’t and will result in a 2.5% surcharge on your purchase.
• Cash Advance fees – If you choose to take out cash from your credit card rather than your debit card there is a fee associated with that plus additional interest charges. It’s best to avoid this because it can result in so many fees but it can be handy in an emergency situation. Just be sure to pay it off right away and don’t take out more than you need.
• Inactivity fee – Inactivity fees are charged when you haven’t used your credit card for a prolonged amount of time. Usually, it’s a year and the charge is around $10. 
• Over-limit fees – When you get a credit card there is a limit as to how much you can spend on it. If you go over that amount, you’ll be charged a fee of around $30. If you think you will have to go over your limit, it’s best to get in touch with your credit card provider and ask them to increase the limit. 
• Balance Protection Insurance – This is an add-on feature that many credit card providers encourage you to opt into. Essentially, it’s used to pay off your credit card balance in the event of your death so your family doesn’t have to worry about it. However, it’s incredibly expensive. 

No fee credit card features

Typically speaking, no-fee credit cards aren’t known for their perks and benefits. These are generally reserved for credit cards that do charge a fee and oftentimes, the higher the fee the better the benefits. That being said, these days, we see more no-fee credit cards offered with some perks. You can’t expect airport lounge access (those are typically reserved for high-end travel cards) but some features you might see offered include things like purchase assistance and extended warranty. You may also see some basic insurance coverage and brand-specific benefits like American Express Experiences and Front of the Line access to advance ticket sales.

Do no fee credit cards earn rewards?

Many of the best no fee credit cards in Canada earn you rewards. The type of rewards you’ll earn depends on the type of card you get. Generally, you can break down rewards into three categories:

• Travel – With travel rewards, you’ll earn points or miles, which can then be redeemed for free or discounted travel. Aeroplan, Air Miles, and American Express Membership Rewards are the most popular travel rewards programs.
• Cash back – Cash back cards are easier to understand than travel rewards since you’ll earncash back on all your purchases. Best of all, some bonus categories will give you an increased earn rate.
• Store and retail – A few stores have their own loyalty program or are partnered with a loyalty program where you can earn rewards points. The points you earn can later be used for discounts, merchandise, gift cards, and more. Some retail loyalty programs include PC Optimum and Scene+.

How to choose a no fee credit card

With a no-fee credit card you are starting on equal ground as all your options have no annual fee. From here there are a few things you can consider and compared to choose the best credit card for you. Look at:

• The interest rate
• Any rewards programs
• Perks or benefits included in the credit card
• Welcome bonus for new cardholders 

How to apply for a no fee credit card

Applying for an airline credit card follows the same method as other credit card applications. They are often easiest when completed online but if there is a physical branch for the card issuer, you can do it in person as well. 

1. Gather all necessary documents needed for the application. You will need to know all of your personal information including contact information. Your annual income and contact information for your workplace is also required. You may need your social insurance number (SIN) so have that handy as well.
2. Decide which card you would like to apply for based on the list above. Consider the application requirements and make sure you qualify. Most credit cards have credit score and minimum income requirements. Once you have determined your card choice, go to the web page for the credit card and click the button to apply. Or visit a bank branch in person to start your application if applicable. Step 3: Fill out the form. Note that you will presented with some small print details. credit card. Make sure you understand the terms and conditions. If you are happy, continue the application form and submit it online or to a representative at the bank.
3. Wait for approval. Many online applications offer instant approval but it still might take a couple of weeks for the card to get to you. Once received, activate it and you can start using it. 

Are no fee credit cards worth it?

When it comes to applying for a new credit card, many people look towards rewards cards or cash back cards, which will give them something in return for using their credit card. However, these cards often come with fees. If you don’t use a credit card a lot, then it might not be worth paying for one with an annual fee. In this case, a no-fee credit card is a smart choice. But, if you plan on using a credit card frequently, it might be worth considering getting one with higher rewards. 

No fee credit cards are also good for those just starting out and looking to build credit. Typically, they don’t require high credit scores and annual income which makes them easier to apply for.

FAQ

What is the best no fee credit card in Canada?

As mentioned above, no fee credit cards don’t tend to have the same perks as credit cards that do charge an annual fee, there are are sometimes still benefits and rewards offered that might be worth taking advantage of depending on your spending habits. For example, Tangerine money back offers cash back while the CIBC Aeroplan Visa allows you to earn Aeroplan points on your purchases. Another critical thing to pay attention to is the welcome bonus as these vary from card to card.

Can you get a no annual fee credit card with bad credit?

This depends on your circumstances. While most no fee credit cards may not require high income or excellent credit scores to qualify, that doesn’t mean everyone can qualify.

If you are a student with no credit, then there are no fee student credit card options, which you will likely be approved for. However, if you are someone with poor credit or a new-comer to Canada, you likely would be better off starting with a secured credit card to build your credit, then move onto a no annual fee credit card from there.

Who should get a no fee credit card?

There are a few scenarios where getting one of the best no fee credit cards in Canada makes sense. In the end, it depends on your situation, but consider the following:

• You want to minimize your costs – Since no fee credit cards won’t cost you anything and you still get access to credit, they can be a great tool to help you manage your finances without becoming an additional cost to worry about. 
• You need a back up credit card – Many people have a primary credit card but keep a backup card in their wallet just in case. This is handy if the merchant does not accept your main card’s credit card issuer (Visa, Mastercard, or American Express). Or in situations where you may lose a credit card, have it compromised, or even just have a big purchase that you need to divide onto a couple of credit cards. 
• You don’t use credit much – There are some people that prefer to use cash or their debit card. This is perfectly acceptable, but there are some places that require you to have a credit card. For these situations, it’s likely not worth getting a cash back or rewards card. If you rarely use it, then you won’t get enough value to make it worth the annual fee. So in this circumstance, a no fee credit card is great to have handy in your wallet. 
• You want to build your credit score – Using your credit card responsibly will help you improve your credit score. This is especially true for students who are getting their first credit cards and starting to build credit. Many student cards are no-fee cards making it easy to start building your credit without having to worry about bringing on any additional costs.

Are credit cards with an annual fee better?

Some people are totally against the idea of paying an annual fee for a credit card, but the benefits typically far exceed what you’re paying. That said, premium credit cards can chance an annual fee of $120 to $699, so it is a healthy amount to be paying.

You need to ask yourself, how much value are you getting from the annual fee? For example, many travel rewards credit cards come with comprehensive travel insurance. That benefit is typically worth $300 a year, which is much more than a card that has an annual fee of $120 – $150.

Even the American Express Platinum Card, which has an annual fee of $699, pays for itself since you get perks such as unlimited lounge access, hotel status upgrades and more.

As long as you can extra more value out of the benefits provided than what you’re paying in annual fees, you’re coming out ahead.

What are the pros and cons of a no fee credit card?

Like all credit cards, there are pros and cons to be aware of when debating a no-fee credit card. Here are the main points to be aware of to help in your decision making.

Pros of a no fee credit card

Besides not having to pay an annual fee, no fee credit cards can be useful for many reasons including:

• Building your credit history – Your credit score is important if you ever want to get a loan in the future. Using a no fee credit card and paying your bills in full and on time will show lenders that you’re creditworthy.
• You can make purchases – You can obviously make purchases with any credit card, but a no fee credit card is best suited for people who don’t use credit often. Get a no fee card and keep it in your wallet so you can access credit when needed.
• It can be a backup card – If you already have one of the best travel credit cards in Canada, then getting one of the best no fee credit cards in Canada can complement your spending. For example, American Express isn’t accepted anywhere so you can use your no fee card instead.

Cons of a no fee credit card

While there’s no denying the advantages of a no fee credit card, there are also some disadvantages to consider.

• Mediocre welcome bonuses – Don’t expect the sign up bonus to be anything spectacular.
• Lower earn rate – A 50% decrease in earn rate compared to premium credit cards isn’t uncommon and applies to cash back and travel rewards cards.
• Fewer benefits – You typically get limited benefits with no fee cards. It’s unlikely you’ll get things such as extended travel medical insurance, mobile device insurance, lounge access or travel credits.

on’t incur any interest charges. That said, paying an annual fee can be worth it since the welcome bonus and annual perks are almost always worth more than the fee you pay.

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.

Best for everyday spending

American Express Cobalt Card

• $15.99 Monthly fee ($191.88 yearly)
• 1,250 monthly points when charging $750 each month for a year (15,000 points total)
• Earn 5 points per $1 spent on eats and drinks
• Earn 3 points per $1 spent on streaming services
• Earn 1 point per $1 spent on all other purchases
• MESSAGE ME FOR A REFERRAL LINK

When it comes to everyday spending, it doesn’t get much better than the American Express Cobalt Card. The earning rate is 5 American Express Membership Rewards points per $1 spent on eats and drinks, 3 points on streaming services, 2 points on travel and transit, and 1 point on all other purchases. Although there is a spending cap of $2,500 per month for eats and drinks, that’s still a lot of points you can earn.

Another reason this card is so popular is that you can redeem 1,000 points for a $10 statement credit. So whether you’re looking to pay for groceries, book travel, or buy gifts, you can use your points to do so. This makes the card a hybrid travel/ cash back card.

Some people also like this card because your points are flexible. Besides redeeming your points for a statement credit, you can also transfer them to some travel loyalty programs such as Aeroplan, Hilton and Marriott Bonvoy. Alternatively, you can use your points on the Fixed Points Travel Program, which allows you to double the value of your points on some bookings.

Eligibility: There’s no minimum income required. A credit score of 700 is recommended before applying.
Welcome bonus: Typically, you’ll earn 1,250 American Express Membership Rewards points when you spend $750 monthly for the first 12 months. That’s 15,000 bonus American Express Membership Rewards points you can earn in the first year.

Best for cash back

Scotia Momentum Visa Infinite Card

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• $120 annual fee – first year free
• Earn 15% cash back on all purchases for the first 3 months (up to $2,000 in purchases)
• Earn 4% cash back on groceries, recurring bills and subscription purchases
• Earn 2% cash back on gas, daily transit and food delivery purchases
• Earn 1% cash back on all other purchases with no cash back limit
• Travel and mobile device insurance included

I have a detailed list of the best cash back cards in Canada, and the Scotiabank Momentum Visa Infinite Card is on that list. The earning rate is 4% cash back on groceries and recurring bill payments, 2% on gas and transit purchases, and 1% on all other eligible purchases. Admittedly, the American Express Cobalt Card has a better earn rate and also offers cash back, but that card is already featured above for a different category.

The good thing about the Scotia Momentum Visa Infinite Card is that the spending cap of $25,000 is calculated per year, so you don’t need to worry about monthly thresholds. The one downside is that Scotiabank’s cash back is only paid out once a year on your November statement.

Some people also prefer this card because it has a great overall insurance package. Not only do you get comprehensive travel insurance, but you also get mobile device and purchase insurance.

Eligibility: A personal income of $60,000, household income of $100,000 or a minimum of $250,000 of assets under management. A credit score of at least 700 is recommended.
Welcome bonus: Usually 10% cash back for the first three months, up to $2,000 in spending, and no annual fee for the first year.

Best for no fee

Tangerine Money-Back Card

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• 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. Although Tangerine offers 10 broad categories to choose from, there’s no general travel category. You can choose hotel/motels, but not flights. This isn’t a deal-breaker, but it’s something to be aware of.

What’s interesting is that Tangerine also offers a World Mastercard version of this card. Although you’ll need a higher personal or household income to qualify, you do get some added insurance.

Eligibility: A personal income of $12,000. If you have a personal income of $60,000, a household income of $100,000, or a balance of $250,000 or more with Tangerine, you may qualify for the Tangerine World Mastercard. A minimum credit score of 660 is recommended.
Welcome bonus: Typically 10% cash back up to $1,000 in spending in the first two to three months. This bonus offer has been worth as much as 15%.

Best for frequent and luxury travel

American Express Platinum Card

• $799 annual fee
• Earn 90,000 Membership Rewards points when using a referral link and spending $10,000 in the first 3 months
• 50,000 additional points when making any purchase in months 15 – 17
• Earn 2 points per $1 spent on dining and travel, and 1 point on all other purchases
• $200 annual travel credit
• $200 annual dining credit (per calendar year)
• Unlimited airport lounge access
• MESSAGE ME FOR A REFERRAL LINK

The American Express Platinum Card is the best credit card for frequent travellers. You get unlimited airport lounge access for you plus a guest, a comprehensive travel insurance package that includes trip cancellation/interruption and car rental insurance, hotel status upgrades, a NEXUS (TSA precheck / Global entry) rebate and more.

This card earns you American Express Membership Rewards points, which are very valuable. When you redeem 1,000 points, you get a $10 statement credit. This applies to any purchase you make. In addition, your points can be transferred to multiple travel loyalty programs such as Aeroplan and Marriott Bonvoy. Depending on the redemption, you could increase the value of your points.

Some people will look at the annual fee of $799, and instantly pass. However, there’s a way to get the annual fee down to $199 for the first year. When you sign up, you get a dining credit of $200 per calendar year. This credit can be used at some high-end restaurants across the country. You also get a $200 travel credit, once per year. That’s $600 in travel credits you can get in the first year. Plus, the welcome bonus is often very generous, so you could easily come out ahead with this card.

Eligibility: There’s no minimum income required. A credit score of 740 is recommended before applying.
Welcome bonus: Typically worth 80,000 to 100,000 American Express Membership Rewards points when using a referral link. The minimum spending requirement is usually $5,000 to $10,000.

Best for all-in-one travel needs

Scotiabank Passport Visa Infinite* Card

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• $150 annual fee
• 40,000 Scene+ points when spending $2,000 in the first 3 months
• 10,000 points when spending $10,000 in the first six months
• 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

Canadians who don’t want multiple credit cards and prefer one card that gives them good benefits should consider the Scotiabank Passport Visa Infinite Card. It has no foreign transaction fees, airport lounge access with six free annual visits, and great travel insurance. 

With this card, you’ll earn Scene+ points. Although this rewards program isn’t the best one out there, it’s added some great partners over the years. The biggest partnership would be Empire-owned grocery stores, which include Sobeys, IGA, Foodland and more. They’re also partnered with Cineplex and Home Hardware. That means you can double dip the points at these retailers by scanning your Scene card and paying with your Scotiabank Passport Visa Infinite Card.

When it comes to redeeming your points, you can do so easily through the Scotiabank travel portal. Alternatively, you can pay for any travel purchase with your card and redeem your points later for the transaction ($50 minimum). You can also use your points at Cineplex and Empire-owned grocery stores.

Eligibility: A minimum personal income of $60,000 or a household income of $100,000 or at least $250,000 in assets under management. A credit score of 700 is also recommended.
Welcome bonus: You’ll typically get 35,000 to 50,000 Scene+ points as the welcome offer. In most cases, you’ll need to spend a minimum amount in the first three months and another in the first 12 months for the full bonus.

Best for no fee travel

American Express Green Card

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• 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 has quickly become one of the most popular no fee travel credit cards. The earn rate is a straight 1 point per $1 spent. For a no fee card, that’s pretty standard. However, this card also comes with a generous welcome bonus that’s worth at least $100.

What makes this card popular is that you earn Amex Membership Rewards points. As mentioned above, you can redeem 1,000 points for a $10 statement credit. Alternatively, you can book travel through the American Express travel portal, the fixed points travel program, or you can transfer your points to other loyalty programs. 

Even though this is an entry-level no fee card, you still get access to American Express Experiences, which includes front of the presales, reserved tickets, offers, entertainment and dining experiences, and more.

Eligibility: There’s no minimum income required. A credit score of 660 is recommended before applying.
Welcome bonus: It’s consistently been 10,000 points when you charge $1,000 to your card in the first three months of cardmembership.

Best for Aeroplan

TD Aeroplan Visa Infinite Privilege Card

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• $599 annual fee
• Earn 20,000 Aeroplan points after your first purchase
• Earn 35,000 Aeroplan points when you spend $12,000 in the first 180 days
• Earn a one-time anniversary bonus of 30,000 Aeroplan points when you spend $24,000 within 12 months of account opening
• Earn 2 Aeroplan points per $1 spent on Air Canada purchases, 1.5 points on gas, and groceries, and 1.25 points on all other purchases
• First bag checked free, priority check-in & boarding on Air Canada flights
• Maple Leaf Lounge access in North America
• Visa Airport Companion Program + 6 free annual passes

Air Canada is Canada’s top airline, so many people will naturally want to collect Aeroplan points. The TD Aeroplan Visa Infinite Privilege Card is a premium Aeroplan credit card, with incredible perks. The earning rate is 2 Aeroplan points per $1 spent on Air Canada purchases, 1.5 points on gas, groceries, dining, and travel, and 1.25 points on all other purchases.

The included Air Canada benefits are impressive as you get Maple Leaf Lounge access in North America for you and a guest, priority boarding (zone 2), priority baggage handling, priority airport standby, and priority upgrades. You can also carry over up to 50 unused eUpgrade credits.

Eligibility: A minimum personal income of $60,000 or a household income of $100,000 is required. It’s also recommended that you have a credit score of at least 700.
Welcome bonus: Typically worth between 50,000 to 70,000 Aeroplan points. This bonus is usually divided into multiple parts with different minimum spending requirements.

Best for WestJet Rewards

WestJet RBC World Elite Mastercard

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• $119 annual fee
• 25,000 WestJet points after your first purchase
• 5,000 WestJet points up to twelve (12) weeks after your first purchase
• 30,000 WestJet points after spending $5,000
• 10,000 WestJet points up to sixteen (16) weeks after your first anniversary
• Earn 2 WestJet points per dollar spent on WestJet, WestJet Vacations, Sunwing Vacations, groceries, and gas
• Earn 1.5 points per $1 spent on all other purchases
• Receive a round-trip companion voucher
• Get free first checked bags for the primary cardholder and up to 8 guests on the same reservation

The WestJet RBC World Elite Mastercard is one of the best airline credit cards in Canada. Simply put, if you fly WestJet regularly, this card can help you save big since you’ll earn  2% back in WestJet dollars on WestJet flights or WestJet Vacations packages and 1.5% on all other purchases. In addition, the primary cardholder and guests on the same itinerary (up to 8 total) get their first bag checked free.

WestJet is appealing to those who live in Alberta and British Columbia since they offer many flights across the country and abroad. Even if you don’t fly WestJet regularly, the card does come with a WestJet companion voucher that could help you save. When travelling with the primary cardholder, the voucher allows you to buy another ticket for your companion at a base fare starting at CAD $119. 

The companion voucher is ideal for families with two kids. If each parent had the card, they’d get two companion vouchers. That would allow them to save on trips to Disney World or Universal Orlando Resort. These are some great travel perks you’re getting.

Eligibility: Minimum personal income of $80,000 or a household income of $150,000.
Welcome bonus: Usually up to 45,000 WestJet points.

Best for hotel stays

Marriott Bonvoy American Express Card

• $120 annual fee
• 55,000 Marriott Bonvoy points when you charge $3,000 in the first 3 (must use a referral link)
• 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
• MESSAGE ME FOR A REFERRAL LINK

Instead of saving on flights, some people would prefer to save on their hotel stays. If that sounds like you, the best credit card in Canada for you is the Marriott Bonvoy American Express Card. That’s because Marriott has over 8,000 properties in 130+ countries. 

With this card, you get an earning rate of 5 Marriott Bonvoy points per $1 spent at participating properties and 2 points on all your other purchases. One Marriott Bonvoy point is worth about .9 cents, so you’re getting a decent rate of return. 

What really makes this card appealing is the free annual night certificate you get each year worth up to 35,000 points. That certificate can easily have a value of $300+, which is clearly more than the $120 annual fee. You also get Silver Elite Status and 15 elite night credits each year.

Eligibility: No listed income requirement. A credit score of at least 700 is recommended.
Welcome bonus: Typically worth 50,000 – 75,000 Marriott Bonvoy points when you spend $3,000 in the first three months of card membership.

Best for no foreign transaction fees

Wealthsimple Cash Card

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• No annual fee
• Up to $3,000 welcome bouns
• 1% back in cash, stocks, or crypto on all purchases
• 4% interest on deposited funds
• No foreign transaction fees on purchases or ATM withdrawals
• CDIC insurance protection

The Wealthsimple Cash Card has quickly become one of the most popular no foreign transaction fee cards in Canada. In case you didn’t know, most credit cards in Canada charge a 2.5% fee when you make any purchase that’s not in Canadian dollars. That clearly adds up. When using the Wealthsimple Cash Card, you just pay the spot exchange rate. Since this is a no fee prepaid card, it’s the perfect card to have when you need to make a foreign purchase.

Another advantage of this card is that you also won’t be charged exchange fees when using foreign ATMs. 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.

Some people will also like the fact that you’ll earn 1% in cash back rewards instantly on all your purchases. Plus, any funds you have loaded to your card will earn you interest. The only downside of this card is that it doesn’t earn you interest since it’s a prepaid card. 

Eligibility: Must have a Wealthsimple Cash account, but no income or credit history is required.
Welcome bonus: Up to $3,000 (it’s random)

Best for groceries

Scotiabank Gold American Express® Card

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• $120 annual fee
• 30,000 Scene+ points when you spend $2,000 in the first 3 months
• 20,000 Scene+ points when you spend $7,500 in the first year
• Earn 6 Scene+ points per $1 spent at Empire owned supermarkets
• Earn 5 Scene+ points per $1 spent on grocery, dining, and entertainment
• Earn 3 Scene+ points per $1 spent on gas, and daily transit purchases
• Earn 1 Scene+ point on all other purchases
• No foreign transaction fees

To some people, the Scotiabank Gold American Express® Card might be an odd choice as the best credit card in Canada for groceries, but let me explain. The earning rate is 6 Scene+ points per $1 spent at Empire-owned supermarkets (Sobeys, IGA, Foodland, etc.), 5 points at other grocery stores, 3 points on gas, and daily transit, and 1 point on all other purchases. If you shop at Empire-owned grocery stores, then this card gives you the highest earning rate.

That said, say you shop at Loblaws-owned stores such as Loblaws, No Frills, and Superstore, the PC Financial World Elite Mastercard would be a better choice. Also, the American Express Cobalt Card earns you 5X the points at grocery stores, and you can transfer your points to Aeroplan and Marriott Bovnoy for a potentially higher value.

The other benefits of the Scotiabank Gold American Express® Card are no foreign transaction fees, mobile device insurance, and great travel insurance. With these benefits, it’s arguably one of the best travel credit cards in Canada.

Eligibility: There’s no minimum income requirement. A credit score of at least 700 is recommended.
Welcome bonus: Typically worth between 40,000 and 60,000 Scene+ points when. To get the full bonus, you usually need to meet multiple minimum spending requirements.

Best for PC Optimum

PC Financial World Elite Mastercard

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• 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

If you’re a fan of PC Optimum the PC Financial World Elite Mastercard will earn you the most points. You’ll get 30 PC Optimum points per $1 spent at Loblaws-owned grocery stores (Loblaws, No Frills, Superstore, etc.). 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 real value of this card comes with PC Optimum. PC Optimum is one of the best loyalty programs, and they have many ways to earn additional points. If you don’t do your grocery shopping at Loblaws-owned stores, you’re better off with the American Express Cobalt Card or Scotiabank Momentum Visa Infinite Card.

Eligibility: A personal income of $80,000 or $150,000 is required. That said, two other PC Financial Mastercards have lower earning rates and a lower minimum income requirement. A credit score of 700 is recommended.
Welcome bonus: You can sometimes get up to 100,000 PC Optimum points when signing up in a store.

Best for students

Scotiabank Scene+®* Visa* Card

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• No annual fee
• 2,500 Scene+ points when you spend $250 in the first 3 months
• Additional 5,000 Scene+ points when you spend $1,000 in the first 3 months
• Earn 2 Scene+ points per $1 spent at Cineplex theatres, cineplex.com and Empire owned grocery stores
• Earn 1 Scene+ point per $1 spent on all other purchases

The best student credit card in Canada is a bit subjective, but I personally recommend the Scotiabank® Scene+ Visa* Card. It has no annual fee, you get a minimum credit limit of $500 and the odds of being approved as a student are high- especially if you bank with Scotiabank.

The Earning rate is 2 Scene+ points per dollar spent at Empire-owned grocery stores (Sobeys, Safeway, Foodland & Participating Co-ops, FreshCo, etc.), Home Hardware, and Cineplex. All other purchases earn you 1 Scene+ point per dollar spent.

You don’t get any other benefits that are worth mentioning, but this card will allow you to build your credit score. As a student, establishing a good credit history is essential since it’ll help you if you ever need a loan in the future.

Eligibility: A personal income of $12,000 is required, but students may be approved without income. The recommended minimum credit score before applying is 660.
Welcome bonus: Typically worth 5,000 Scene+ points when spending $750 in the first three months.

Best for low interest

MBNA True Line Mastercard

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• 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

Anyone who typically carries a balance would likely be better off with a low interest credit card than a rewards card since it’ll help them save money in the long run. The MBNA True Line Mastercard is the perfect card since the regular interest rate is 12.99% on all everyday purchases. 

Instead of offering a welcome bonus, this card allows you to perform a balance transfer with an introductory interest rate of 0% for 12 months. Once the promotional period ends, you’ll pay the regular interest rate. There is a balance transfer fee of 3%, but the savings can be worth it. This is easily one of the best balance transfer credit cards in Canada.

Eligibility: There’s no minimum income requirement. A minimum credit score of 660 is recommended.
Welcome bonus: Balance transfer option with 0% interest for 12 months (3% fee applies).

Best for business owners

American Express Business Gold Rewards Card

• $199 annual fee
• Earn 50,000 Membership Rewards points when spending $7,500 in the first 3 months
• Earn 20,000 points when you charge $30,000 in the first year
• Earn 1 point per $1 spent on all purchases
• Mobile device insurance
• MESSAGE ME FOR A REFERRAL LINK

Admittedly, the best business credit card in Canada will depend on the type of business you have and what your purchasing needs are. That said, I recommend the American Express Business Gold Rewards Card because it’s a charge card. That means you can get an incredibly high credit limit if you always pay your bills on time.

What makes this card appealing is that it has a low annual fee of $199, and you get business benefits. That includes 55 interest free days, expense reports, and employee abuse protection. In addition, the welcome bonus offered is typically one of the best available.

Eligibility: There’s no minimum income required. A credit score of 700 is recommended before applying.
Welcome bonus: Typically worth 75,000 American Express Membership Rewards points when spending $5,000 in the first three months.

How do credit cards work 

A credit card is a method of payment that allows you to borrow money from a financial institution temporarily rather than use your own money. 

When you are approved for the credit card, you are given a limit on the amount you can spend. Every time you use your credit card, the limit decreases until you pay it off, and it resets. Credit cards are meant to be paid off in full monthly, and the inability to do so will lead to interest charges and potentially other fees as well. Inability to pay off your credit card in full can also result in losing and any perks, benefits, or rewards that come with the card. Not to mention it may lead to hefty credit card debt

Those who pay off their credit card in full and on time can build their credit and reap the rewards of high-value credit cards that offer points, cash-back, and other benefits. It’s an incredibly helpful and lucrative tool, when used properly.

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 travel, cash 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 are 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 redeem 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 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 to be considered eligible to apply. If you are looking for a top-tier or premium credit card, they will likely require you to have an excellent credit score. For individuals with poor credit, you may have to start with a secured card to build your credit. From there, you can apply for non-secured cards with perks like rewards programs or cash back. 

Income

Your annual income may play a role in what credit card you can apply. Again, this varies by credit card. There are many on the market where there are no income requirements at all, but top-tier cards especially tend to have high income requirements. This can be individual income or household income.

Type of card

As discussed above there are several types of credit cards, ranging from student credit card to cash back credit card, travel credit cards and more. Consider what you are hoping to get from your credit card as well as your spending habits. For example, if you are someone who takes a lot of Air Canada flights, then it might be in your best interest to choose a co-branded Aeroplan credit card rather than a general travel card or hotel credit card.

Card issuer

Canada’s three credit card issuers are Visa, Mastercard, and American Express. It’s worth keeping in mind that Visa and Mastercard are more widely accepted than American Express, so before you choose, consider the places you shop the most and what they accept. You may also have a personal preference.

Annual fee 

The annual fee of a credit card can range from $0 no-fee cards to options that cost hundreds of dollars. The more expensive credit cards have more perks and benefits and better rewards programs. It’s worth considering how much value you will get from the credit card. You want to make sure that, at the bare minimum, you get at least the value of the annual fee, ideally more. 

Rewards 

Think about what kind of rewards would be most helpful to your lifestyle and would be the easiest for you to both earn and use. First consider whether you would like points or cash back. Then, consider your spending habits and how you can earn those rewards faster. For example, if you eat out a lot, you might want to find a card with accelerated earning rates for restaurants rather than grocery stores to earn your points or cash back faster. 

Welcome bonus 

A generous welcome bonus is a good incentive to apply for a credit card. Oftentimes, a welcome bonus will require you to spend a large chunk of money within the first couple of months of card membership. In this case, it’s best to time getting a new credit card when you have a big purchase to make.

Earn rate

As mentioned above, you want to choose a credit card that you can earn rewards with quickly so pay attention to the spending categories. Most credit cards have accelerated earn rates on specific categories. This could be grocery, restaurant, travel, entertainment purchases etc. Think about how you spend your money and choose the credit card that offers the higher earn rates for your spending habits.

Additional benefits 

Most credit cards have a few additional benefits. Typically, the more expensive the credit card the better the perks. Perks and benefits included with credit cards can include access to airport lounges, insurance coverage, Nexus discounts, discounts on rental cars, annual fee rebates, and more.

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.

Are credit cards worth it?

Credit cards can be incredibly helpful financial tools when used correctly. They are a great way to help build credit which will help in other areas of life, including renting an apartment or buying a home, leasing a car, or getting a loan. They also can be lucrative if you choose a rewards card. That being said, you do need to use them wisely and responsibly. Credit cards have incredibly high interest rates and when used incorrectly can lead to debt.

FAQ

What is the best credit card in Canada?

This depends on your needs. If you are someone who travels frequently and is looking to earn rewards to use towards flights or hotels, then a travel card is your best option and something like the American Express Platinum card might be a great choice for you. On the other hand, if you are more of a homebody and would like to earn some cash back on your day-to-day purchases, then the PC Financial World Elite Mastercard might be the most lucrative. Don’t love the idea of paying an annual fee? Then stick to a no-annual fee option like the Tangerine Money Back Credit Card. There are so many credit card options out there it’s easy to find one to pick your needs.

What’s better, American Express, Visa, or Mastercard?

This is where you really need to consider your spending habits. American Express credit cards typically offer the best rewards and can be some of the most lucrative credit cards on the market. However, they are not as widely accepted as Visa or Mastercard. So, if the places you most frequently shop don’t accept it, then an American Express card isn’t going to be the best pick.

Visa and Mastercard and often considered to be ‘universally’ accepted, but even then it’s worth noting that only Mastercard branded credit cards are accepted at Costco. So if you are a big Costco shopper, it’s worth keeping that in mind. 

In the end, it’s more important to choose a card that you qualify for and will get the most use of rather than stressing over which network provider to choose.

Do credit cards affect my credit score?

Yes, credit cards will impact your credit score. When used correctly credit cards can boost your credit score. However, if used improperly (ie: not paid off in time or in full), then they can have a negative impact on your credit score. Having a credit card requires responsible spending habits. If you aren’t sure you can use it properly, then it’s best to avoid or stick with a pre-paid card because not only can it impact your credit score, but misuse can also land you in debt.

How is credit card interest calculated?

Most credit cards in Canada have a purchase interest rate of 20% – 24%. 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 rateby 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.

How do you pay off a credit card?

You can pay off your credit card online or via the app, over the phone, or even in person. For more details on how to pay off your credit card, including if your credit card is linked to a different bank, take a look at this post.

How many credit cards should I have?

This depends on your needs but Equifax recommends having 2-3 credit cards at a time. Multiple credit cards can be a good thing and come in handy, as long as you use them properly. If you have more, you might lose track and fall behind on payments which can impact your credit score.

How do you maximize 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.

That said, it doesn’t make much sense to dwell on the past. As a consumer, you should always be looking at what products give you the best bang for your buck. If you regularly shop at Costco, you’ll know that only Mastercard is accepted. While the CIBC Costco Card will do a fine job, it’s also worth considering one of these cards on my list of the best Costco credit cards in Canada.

The best Costco credit cards in Canada

CIBC Costco Mastercard

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• No annual fee
• 3% cash back on restaurant purchases
• 3% cash back at Costco Gas, 2% at non-Costco gas stations on the first $5,000 (1% after)
• 2% cash back on Costco.ca purchases up to $8,000 (1% after)
• 1% cash back on all other purchases
• Mobile device insurance

Since the CIBC Costco Mastercard is the official credit card of Costco, it makes sense to feature it first. The overall earn rate has been slightly increased over the previous version. You now get 3% back on restaurant purchases, 3% at Costco Gas, and 2% at non-Costco gas stations on the first $5,000 (1% after), 2% on Costco.ca purchases up to $8,000 (1% after), and 1% on all other purchases.

Similar to before, your CIBC Costco Mastercard doubles as your membership card, but you still have to pay the annual fee to get into Costco. The card also now comes with mobile device insurance.

National Bank World Elite Mastercard

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• $150 annual fee
• Earn 5 points per $1 spent on grocery and restaurant purchases up to $2,500 per month. Then earn 2 points per $1 spent
• Earn 2 points per $1 spent on gas, electric vehicle charging, recurring bills and à la carte Travel
• Earn 1 point per $1 spent on all other purchases
• Unlimited access to National Bank Lounge at Montreal-Trudeau airport
• Annual $150 travel credit

The National Bank World Elite Mastercard may not be the most popular credit card in Canada, but it comes packed with benefits. The welcome bonus is usually generous, and the earn rate is quite good. Since Costco would fall under the base earn rate, you would be getting 1% back in NBC Rewards points on all Costco purchases. What really makes it stand out is the included travel insurance. You get 60 days of travel medical insurance if you’re under the age of 55. 31 days are offered for those aged 55 to 64. If you’re between the ages of 65 and 75, you get 15 days of travel insurance.

WestJet RBC World Elite Mastercard

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• $119 annual fee
• 25,000 WestJet points after your first purchase
• 5,000 WestJet points up to twelve (12) weeks after your first purchase
• 30,000 WestJet points after spending $5,000
• 10,000 WestJet points up to sixteen (16) weeks after your first anniversary
• Earn 2 WestJet points per dollar spent on WestJet, WestJet Vacations, Sunwing Vacations, groceries, and gas
• Earn 1.5 points per $1 spent on all other purchases
• Receive a round-trip companion voucher
• Get free first checked bags for the primary cardholder and up to 8 guests on the same reservation

I’m a huge fan of WestJet Rewards, as it’s one of the best travel rewards programs in Canada. With the WestJet World Elite Mastercard, you would earn 1.5% back in WestJet dollars on your Costco purchases which is a decent rate of return, but it’s the additional benefits that come with the card that makes this card a winner. 

The free annual companion voucher is incredibly valuable and you also get your first bag checked free. One other feature that many people don’t often think about is the member exclusive fares which are cheaper than regular tickets but can only be booked using WestJet dollars which is why you want to build up your bank as quickly as possible.

PC Financial World Elite Mastercard

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• 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

At first glance, the PC Financial World Elite Mastercard may seem like a poor choice for one of the best Costco credit cards in Canada since you’ll only earn 10 PC Optimum points per $1 spent at Costco, which is the same as the CIBC Costco Card. However, when you look at the value of your PC Optimum points, you’ll see why it makes sense to earn as many points as possible.

For example, about 3-4 times a year, you can redeem 200,000 PC Optimum points for $300 in credit or even 250,000 points for $400. The normal redemption rate would be $200 so you’re getting an extra $100 or $150. Using a PC Mastercard at Costco would help you rack up those points.

BMO CashBack® World Elite®* Mastercard®*

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• $120 Annual fee – First year free*
• 10% cash back on all purchases for three months (up to $260)
• 5% cash back on grocery purchases
• 4% cash back on transit purchases
• 3% cash back on gas and electric vehicle charging
• 2% cash back on recurring bill payments
• 1% cash back on all other purchases

If you’re looking for a Costco credit card that earns you cash back, take a look at the BMO CashBack® World Elite®* Mastercard®* as you’ll earn 1.5% cash back on all your purchases. What’s nice about this card is that there are often promos where new applicants can earn increased cash back for 3 months. Costco would be the perfect place to take advantage of that promo.

The card does have an annual fee of $120, but the first year is usually free. It’s also worth noting that the free roadside assistance program is worth about $120 per year so technically speaking, you’re breaking even on the card every year. Not only is the BMO CashBack World Elite Mastercard one of the best Costco credit cards, but it’s also one of the best cash back credit cards in Canada.

Does Costco take Visa or American Express?

In Canada, Costco only accepts Mastercard in stores. One way around this is to purchase Costco gift cards online with the credit card of your choosing and then use those credit cards in-store.

The Costco website does take Visa and American Express, but their stock is not the same as what’s available in the store.

What merchant category is Costco?

When it comes to merchant categories set by the credit card providers, Costco is considered retail. Since it’s not considered a grocery merchant, you would not earn any additional points with any credit cards that give an increased earn rate for grocery purchases. You get the base earn rate regardless of which credit card you use at Costco.

Is the Costco Executive Membership worth it?

The Costco Executive Membership is a higher tier Costco membership that many people consider but aren’t sure if it’s worth it. I wrote a detailed post about the value of a Costco Executive Membership which you should check out, but if you’re looking for a quick answer, it comes down to value. Basically, you need to spend at least $3,000 a year at Costco for the Executive Membership to pay for the increased annual fee. If you spend at least that, you’ll come out ahead. Overall, the Costco benefits in Canada are amazing.

How to pick the best Costco credit card

There’s no one Costco credit card that’s perfect for everyone so you need to consider the following to help you choose the right card.

• Type of benefits – The type of benefits you want is usually the most important choice. Are you interested in travel or cash back rewards? Don’t forget to consider a low interest credit card if you have any debt.
• Annual fee – Will the benefits you get from your credit card be worth more than the annual fee? If not, look at no fee credit cards. Keep in mind that you may get your annual fee waived if you have a premium banking plan with RBC.
• Welcome bonus – The welcome bonus is usually worth more than the annual fee so always take a look at what credit card deals are available when applying.
• Additional benefits – For some people, the additional benefits such as no foreign transaction fees, lounge access and travel insurance are important, so check to see what each card offers and compare it to others.

Final thoughts

When it comes to the best Costco credit cards in Canada, there are a lot of limitations. Instead of focusing on getting the highest rate of return, think about what type of rewards you like to earn or if any of your current cards can be used at Costco. Unless you’re spending a lot of money, you probably don’t need a separate credit card that you only use at Costco

Since every card Scotiabank offers is different, it’s always in your best interest to compare things before making a decision. Quite often, you may realize there’s a perk included with one of the cards that may appeal to you. Here are the best Scotiabank credit cards in Canada.

Best Scotiabank card for travel

Scotiabank Passport Visa Infinite* Card

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• $150 annual fee
• 40,000 Scene+ points when spending $2,000 in the first 3 months
• 10,000 points when spending $10,000 in the first six months
• 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

It’s not hard to make a case that the Scotiabank Passport Visa Infinite Card is the bank’s flagship product. It has a high earning rate and it comes packed with benefits. You’ll earn 3 Scene+ points per dollar spent on Empire-owned grocery stores (Sobeys, FreshCo, Safeway, etc.), 2 points on all other grocery stores, dining, entertainment, and transit purchases, and all other purchases get you 1 point.

As for the benefits, there are no foreign transaction fees, so you’ll save 2.5% in fees compared to most other credit cards in Canada. You also get airport lounge access and six free annual visits via the free Visa Airport Companion Program membership. Finally, a comprehensive travel insurance package that covers travel medical, trip cancellation, flight delays, lost luggage, travel accidents, and more is also provided.

Admittedly, there are better travel credit cards from other providers, but this is easily the best all-in-one travel card since it includes many perks. It’s ideal for people who don’t want to carry multiple credit cards in their wallet.

Eligibility: A minimum personal income of $60,000 or a household income of $100,000 or at least $250,000 in assets under management. A credit score of 700 is also recommended.
Welcome bonus: You’ll typically get 35,000 to 50,000 Scene+ points as the welcome offer. In most cases, you’ll need to spend a minimum amount in the first three months and another in the first 12 months for the full bonus.

Best Scotiabank card for earn rate

Scotiabank Gold American Express® Card

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• $120 annual fee
• 30,000 Scene+ points when you spend $2,000 in the first 3 months
• 20,000 Scene+ points when you spend $7,500 in the first year
• Earn 6 Scene+ points per $1 spent at Empire owned supermarkets
• Earn 5 Scene+ points per $1 spent on grocery, dining, and entertainment
• Earn 3 Scene+ points per $1 spent on gas, and daily transit purchases
• Earn 1 Scene+ point on all other purchases
• No foreign transaction fees

Those who want to maximize their rewards should look at the Scotiabank Gold American Express Card. You’ll earn 6 Scene+ points per dollar spent at Empire-owned grocery stores, 5 points on other eligible grocery stores, dining, and entertainment purchases, 3 points on gas, public transportation, rideshares and streaming purchases, and 1 point on all other purchases. 

This card also has no fees for foreign currency purchases. That said, any foreign purchases you make with this card only give you the base earn rate of 1 Scene+ point per dollar spent. Whereas, the Scotiabank Passport Visa Infinite Card still gives you the multipliers on foreign purchases.

The other benefits you get with this card include a comprehensive travel insurance package and mobile device insurance, which covers your cellphone or tablet up to $1,000.

Eligibility: There’s no minimum income requirement. A credit score of at least 700 is recommended.
Welcome bonus: Typically worth between 40,000 and 60,000 Scene+ points when. To get the full bonus, you usually need to meet multiple minimum spending requirements.

Best Scotiabank card for cash back

Scotia Momentum Visa Infinite Card

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• $120 annual fee – first year free
• Earn 15% cash back on all purchases for the first 3 months (up to $2,000 in purchases)
• Earn 4% cash back on groceries, recurring bills and subscription purchases
• Earn 2% cash back on gas, daily transit and food delivery purchases
• Earn 1% cash back on all other purchases with no cash back limit
• Travel and mobile device insurance included

The Scotia Momentum Visa Infinite Card is the way to go for those who want to earn a lot of cash back. You’ll earn 4% cash back on grocery, recurring bills, and subscription purchases, 2% cash back on gas and daily transit purchases, and 1% cash back on everything else. It’s worth noting that your cash back is only paid out once a year in November. This may not bother some people, but many people prefer monthly payments.

You may have noticed that the Scotiabank Gold American Express Card arguably has a better earning rate. However, with the Gold card, you earn Scene+ points, and those are best used for travel, movies, and participating restaurants for maximum value. If you want a statement credit, which is like cash back, the value of your points drops considerably.

You do get some decent benefits with this card. You get an excellent travel insurance package that covers all the essentials. You also get mobile device insurance, which protects your tablet and cellphone as long as the full cost is charged to your Scotiabank Momentum Visa Infinite Card.

Eligibility: A personal income of $60,000, household income of $100,000 or a minimum of $250,000 of assets under management. A credit score of at least 700 is recommended.
Welcome bonus: Usually 10% cash back for the first three months, up to $2,000 in spending, and no annual fee for the first year.

Best Scotiabank card for students

Scotiabank Scene+®* Visa* Card

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• No annual fee
• 2,500 Scene+ points when you spend $250 in the first 3 months
• Additional 5,000 Scene+ points when you spend $1,000 in the first 3 months
• Earn 2 Scene+ points per $1 spent at Cineplex theatres, cineplex.com and Empire owned grocery stores
• Earn 1 Scene+ point per $1 spent on all other purchases

The Scotiabank Scene+ Visa Card can be highly appealing to students. That’s because Scene+ points can be redeemed at Empire-owned grocery stores, Cineplex theatres, and participating restaurants, such as Swiss Chalet, Kelseys, Montana’s, and more.

When it comes to the earning rate, you’ll get 2 Scene+ points per dollar spent at Cineplex theatres, cineplex.com and Empire-owned grocery stores, and 1 Scene+ point on all other eligible purchases. While this earning rate isn’t as good as other cards on this list, it’s reasonable for a no fee card. 

Even though this card has a minimum income requirement of $12,000 to be approved, many students without an income are often approved for this card if they bank with Scotiabank.

Eligibility: A personal income of $12,000 is required, but students may be approved without income. The recommended minimum credit score before applying is 660.
Welcome bonus: Typically worth 5,000 Scene+ points when spending $750 in the first three months.

Best Scotiabank card for low interest and balance transfers

Scotiabank Value Visa Card

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• $29 annual fee – First year free
• 0.99% interest rate on balance transfers for the first 9 months – 2% balance transfer fee applies
• 13.99% interest rate after the promotional period ends
• Up to 25% off at participating Avis and Budget car rental locations

Instead of focusing on rewards, some people may be more interested in reducing their debt. The Scotiabank Value Visa Card is a low interest credit card with a balance transfer option that could save you hundreds of dollars.

New cardholders have the option to perform a balance transfer with a 0% introductory interest rate for 10 months. Once the promotional period ends, the regular interest rate of 12.99% applies. Although a 1% balance transfer fee applies, you could potentially save hundreds of dollars.

Balance transfers are appealing since you can transfer an existing balance on a different credit card with a high interest rate and then transfer it to your Scotiabank Value Visa Card. If you were to focus on debt repayment during the promotional period, you would greatly reduce how much interest you’re paying. You won’t get any other benefits with the card, but the balance transfer alone is worth it for the low interest rates.

Eligibility: No income requirement, but you must be a Canadian resident and the age of majority in the province or territory in which you reside.
Welcome bonus: Usually, 0% interest on balance transfers for the first 10 months (1% fee applies), and the annual fee is waived for the first year.

Best no fee Scotiabank card

Scotia Momentum No-Fee Visa Card

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• $0 annual fee
• Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in purchases)
• 0.99% interest rate on balance transfers for the first 6 months
• 1% cash back on gas, groceries, drug stores and recurring payments
• 0.5% cash back on all other purchases

If you want a no fee cash back card, then the Scotia Momentum No-Fee Visa Card is the top choice for the best Scotiabank credit cards in Canada. The earning rate is 1% cash back on gas, groceries, drug stores and recurring payments. All other purchases get you 0.5% cash back.

Since this is a no fee card, you don’t get any meaningful perks besides up to 25% off at participating Avis and Budget locations. The Scotiabank Scene+ Visa Card also has no fee, but comes with a higher earning rate.

Eligibility: A personal income of $12,000. A credit score of at least 660 is recommended.
Welcome bonus: Typically 5% cash back for the first three months (Up to $2,000 in spending)

How do Scotiabank credit cards work

As you can see from above, Scotiabank has a range of different credit cards. Here’s how the different category options work.

Scotiabank Cash back Cards

Scotiabank Cash back cards start their year in December and accumulate points monthly. However, the actual Cashback is only given out annually. Each year in November you will be paid out your total Cashback for the previous year and then it will restart again in December.

Scotabank Scene+

Scene+ is the Scotiabank rewards program. As mentioned earlier, Scotia Rewards Points merged with Scene points a couple of years ago to create this encompassing rewards platform. Scene points can be earned by using your Scene+ credit card when shopping at eligible brand partners for everyday purchases. 

Scene+ points can then be redeemed either in store with brand partners or online/via the app. Your points can be used to book travel, purchase gift cards, for free movies, and more. As long as your account is in good standing and you remain active your Scene+ points won’t expire.

Scotiabank Low Interest Cards

Most credit cards have a typical interest rate of around 20%. Then you have balance transfer cards or even just low interest cards that offer lower values than that, making it easier for individuals who typically carry a balance on their credit card to pay it off. In the case of the Scotiabank Value Visa card, you do get a promotional period where the rate is 0% and then it goes to 12.99% which is still significantly lower than normal rates.

How to pick the best Scotiabank card

Since there are quite a few options when it comes to Scotiabank credit cards, you’ll need to figure out exactly what your needs are before you apply. Here are the things to look out for.

• Type of benefits – First off, determine the type of benefits you want when choosing one of the best Scotiabank credit cards. That could be travel rewards, cash back, low interest or even movie rewards. Once you know what you want, that makes things easy.
• Annual fee – Do you mind paying an annual fee? If you said yes, make sure the benefits you’re earning are worth more than that yearly fee.
• Welcome bonus – Always check to see what the welcome bonus is and what the criteria are to earn it.
• Additional benefits – For some people, the additional benefits such as no foreign exchange fees or access to airport lounges are important so check to see what each card offers.

How to apply for a Scotiabank credit card

1. Determine which credit card you want from the list above and click the “apply now” button. Make sure you qualify. Most credit cards will have a minimum income requirement. 
2. Once you have confirmed you qualify, gather all the required paperwork to apply. This includes all of your personal information. You will also need information about your income and possibly your SIN so have that handy.
3. Complete the form as required. Online applications are very straightforward and easy. Be sure to read any fine print to ensure that you understand all the terms and conditions.
4. Wait for approval. Many online applications offer immediate approval, but receiving the physical card could still take up to ten business days. Once you receive the card, activate it and use it as you wish.

FAQ

Are Scotiabank credit cards worth it?

If there is a Scotiabank credit card that meets your goals then sure. They have plenty of options for different needs. For those looking specifically at the Scene+ program, it’s a pretty decent rewards program. You do want to consider your shopping habits though and make sure that you already spend at partner brands, including eligible gas stations. Popular partner brands include Cineplex theatres, Sobeys, Foodland, FreshCo, Bestbuy, and Home Hardware.

Plus, if you are already a Scotiabank client, then it makes it even easier to have a credit card at the same place as your other financial products.

What is the best Scotiabank credit card?

The best credit card to pick will depend on your needs, but here’s my quick take.

If you love to travel, then the Scotiabank Passport is the best card. It’s pretty easy to earn points that you can redeem towards travel, and there are some great perks and benefits, including airport lounge passes and insurance coverage.

If you are rewards focused, but not necessarily a huge traveller, then the Scotiabank Gold will allow you to earn points the fastest.

*** Passport for all-in-one travel, Scotiabank Gold for earn rate, Scene+ for students

How do Scotiabank credit cards compare?

Scotiabank does have decent credit cards. However, if you are really looking at the best credit card rewards program, then American Express comes out on top. Their program offers great deals on travel, but points can also be used towards gift cards, merchandise, and more. Perhaps the biggest standout for American Express cards is that they have tons of partners that allow you to convert your points, adding to the programs flexibility.

Why get a Scotiabank credit card?

Scotiabank is one of the big five banks in Canada, so they have an established history that Canadians can rely on. If you have one of the premium Scotiabank chequing accounts, you can get one of their credit cards without paying an annual fee. This benefits you since you’ll be able to use a top tier card without worrying about any yearly fees. Even if you don’t bank with Scotiabank, getting one of their credit cards may be a good fit for you.