Are you looking for a list of the best store credit cards in Canada? Despite there being thousands of retailers in the country, only a handful of them offer a credit card. This shouldn’t be a huge surprise since credit cards are only really worth it if the store has a good loyalty program.
That said, offers that do offer a credit card have a huge advantage since they can provide their customers with a way to earn points on every purchase they make and additional. It’s basically a win-win situation for both the retailer and consumer.
Of course, every credit card is different and the stores that offer them may or may not appeal to you. That’s why you need to carefully review the list of the best store credit cards in Canada before you apply.
|PC Financial Mastercard
|Loblaws, Shoppers Drug Mart, Real Canadian Super Store, No Frills, Zehrs, Fortinos, Esso/Mobil, and more
|Amazon Rewards Mastercard
|CIBC Costco Mastercard
|Canadian Tire, Sport Chek, Mark’s, Atmosphere, Party City, Sports Rousseau, Hockey Experts, Sports Experts
|Walmart Rewards Mastercard
|Hudson’s Bay Mastercard
PC Financial World Elite Mastercard
- No annual fee
- Earn 45 PC Optimum Points per $1 dollar spent at Shoppers Drug Mart
- Earn 30 PC Optimum Points per $1 spent where PC Products are sold and at PC Travel
- Earn at least 30 PC Optimum Points per litre at Esso/Mobil locations
- Earn 10 PC Optimum Points per $1 spent on all other purchases
The PC Financial World Elite Mastercard is easily one of the best store credit cards in Canada. Not only do you earn PC Optimum points with this card, but you also get an increased earn rate at 10+ stores.
The earn rate is 45 PC Optimum points per $1 spent at Shoppers Drug Mart, 30 points per $1 spent at Loblaws’ owned grocery stores, and PC Travel, at least 30 points per litre at Esso/Mobil, and 10 points per $1 spent everywhere else. In other words, this credit card gives you an increased earn rate and the largest grocery, drug store, and gas station chains in Canada.
For reference, 10,000 PC Optimum points get you $10 off groceries, merchandise, and beauty products. You can easily rack up the points and save big.
If you shop at any of these stores regularly, having this card is a must. Otherwise, you’re only earning PC Optimum points via in-store and targeted offers. It’s worth mentioning that the PC Financial World Elite Mastercard requires a personal income of $80,000 to be approved. However, there’s also the PC Financial World Mastercard and PC Financial Mastercard that have lower income requirements.
Amazon.ca Rewards Mastercard
- 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
Online shopping has become incredibly popular over the years, so it’s no surprise that Amazon now offers a credit card. The Amazon.ca Rewards Mastercard earns you cash back that can only be redeemed on future Amazon purchases. Although this limits you, there’s no denying that it can be quite lucrative.
The card gives you an immediate incentive of a $10 gift card when you sign up. That can be used immediately. The earn rate is 5% back at Amazon.ca, grocery stores and restaurants for six months after your account is opened. You also get 2.5% back at Amazon.ca, Whole Foods Market in Canada and foreign currency transactions. All other purchases earn you 1% back. That said, this earn rate is only available to Amazon Prime members. If you don’t have a Prime membership, your earn rate is 1.5% back per dollar spent at Amazon.ca, Whole Foods Market, physical amazon stores.
Of all the best store credit cards in Canada, the Amazon Rewards Mastercard is the only one to offer no foreign transaction fees. That saves you the standard 2.5% fee whenever you make a purchase in any currency that’s not Canadian dollars.
CIBC Costco Mastercard
- 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
The CIBC Costco Mastercard isn’t available until March 2022, but it may be worth the wait. There’s no annual fee and you’ll earn 3% cash back on restaurant purchases, 3% cash back at Costco Gas, 2% at non-Costco gas stations on the first $5,000 spent (1% after), 2% cash back on Costco.ca purchases up to $8,000 (1% after), and 1% cash back on all other purchases.
Unfortunately, there’s no increased earn rate at Costco warehouses with this card. If you shop more in-store than you do online, then you may want to consider one of the best Costco credit cards in Canada.
The only other benefits you get with this card are mobile device insurance, extended warranty, and purchase protection. Note that the cash back earned is paid out only once a year and can only be used at Costco.
Triangle World Elite Mastercard
- 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
When it comes to the best store credit cards, the Triangle World Elite Mastercard often gets overlooked. This no annual fee credit card comes with a surprising number of benefits.
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. At grocery stores, you’ll earn 3% in CT Money on the first $12,000 per year. Finally, you can earn 7¢ per litre in CT Money on premium fuel, and 5¢ per litre on all other fuel types at Gas+/Essence+ locations and participating Husky stations
In addition, this card provides you with a Roadside Assistance Gold Plan, and offers no fee, no interest financing on qualifying purchases of $150 or more. Since this is a World Elite Card, the personal income requirement of $80,000 per year does apply. However, there’s a lower-tier card available in the Triangle Mastercard that still gives you decent benefits.
Walmart Rewards Mastercard
- No annual fee
- Up to $25 Walmart Reward Dollars sign up bonus
- Earn 1.25% in-stores and at walmart.ca
- Earn 1% on all other purchases
Regular Walmart shoppers will likely have heard of the Walmart Rewards Mastercard since employees are trained to promote it. The card gives you 1.25% back in Walmart Rewards at Walmart stores and online at walmart.ca. All other purchases give you 1% in rewards.
Walmart Rewards is basically a cash back program, so you’re getting money back whenever you make a purchase with your card. In addition, when you sign up, you can earn up to $25 in Walmart Reward dollars.
There is a World Elite version of this card that gives you an earn rate of 3% at walmart.ca, 1.25% at Walmart stores and gas stations, and 1% on all other purchases. Both versions have no annual fee.
Hudson’s Bay Mastercard
- No annual fee
- Earn 4 points on almost every $1 spent at Hudson’s Bay
- Earn 2 points on almost every $1 spent on all other purchases
- Member-only exclusive offers
- Free shipping at thebay.com on orders $45+ (or $29+ on beauty orders)
The Hudson’s Bay Mastercard rounds up my list of the best store credit cards in Canada. Admittedly, Hudson’s Bay Rewards isn’t the most popular loyalty program, but there’s no reason why you shouldn’t collect your rewards if you shop at Hudson’s Bay regularly.
There’s no doubt that the most appealing aspect of the Hudson’s Bay Mastercard is that you get 20% off on first-day purchases. In other words, if you’re making a major purchase at Hudson’s Bay, you can save a lot of money by applying for the credit card.
When shopping at Hudson’s Bay locations or at thebay.com, you’ll get double the points on all your purchases. All other purchases earn you 2 points per $1 spent. Cardholders also get free shipping on orders of $45+ or $29+ for beauty orders. In addition, since this card is powered by Neo Financial, you can earn an average of 2% cash back at their partners.
What is a store credit card?
Store credit cards are no different from regular credit cards. They’re basically a loan that has an interest free period. As long as you pay off your entire bill by the deadline, you won’t pay any interest charges.
Despite the fact that these credit cards are associated with specific stores, you can earn points and rewards on all of your purchases. That said, when using your store credit card at the con-branded store, you would typically earn more points than any other credit card.
Generally speaking, major merchants that have a popular loyalty program or a high number of customers typically offer a credit card.
What stores offer credit cards?
Instead of thinking about what stores offer credit cards, you should consider which stores have loyalty programs where you can earn additional points with a co-branded store. That’s because some store loyalty cards allow you to earn additional points when you shop at their other stores and partners. While there are some stores that only give you an increased earn rate at their own stores and online, they’re often still worth it.
Here’s a list of stores that offer credit cards in Canada:
- Hudson’s Bay
- No Frills
- Real Canadian Super Store
- Wholesale club
- Shoppers Drug Mart
- Canadian Tire
- Sport Chek
- Party City
- Sports Rousseau
- Hockey Experts
- L’Entrepôt du Hockey
- Sports Experts
How to apply for a store credit card
Applying for a store credit card is easy. In stores such as Hudson’s Bay, Walmart, Loblaws, and Real Canadian Superstore, you can sign up on the spot. Quite often you’ll find out right away if you’re approved so you could use the card immediately. Alternatively, you can just apply online through their respective websites.
Are store credit cards worth it?
The value in-store credit cards really depend on the user. For example, if you shop regularly at Loblaws owned grocery stores and Shoppers Drug Mart, it makes sense to get a PC Mastercard since it’ll earn you additional points.
However, let’s say you make infrequent purchases at stores that offer credit cards. It’s probably not worth signing up since the rewards you’ll earn will be limited. You’d probably be better off using one of your regular credit cards even if the earn rate is lower.
Some store credit cards also offer specific benefits that are worthwhile to sign up for. For example, the Triangle World Elite Mastercard has no annual fee and it gives you free roadside assistance. You’re literally getting free stuff.
Of course, applying for another credit card could affect your credit score. Plus, it would be another credit card that you need to keep track of. In the end, it’s up to you to decide if store credit cards are worth it.