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Best Credit Cards Canada

Best Credit Cards Canada
CompareMyRates is Canada's largest rate & price comparison website - Search, Compare and Save on 1000's of products & services - including Best Mortgage Rates, Credit Cards, GIC Rates, Bank Accounts, Internet Providers, Cell Phone Plans, Home Phone Plans & TV Service Providers.

If you’re intending to benefit from points, miles, and cash rewards, you need the best rewards credit card currently available in Canada. CompareMyRates.ca’s best credit cards for 2018 list will make you jump for joy. This list aims to help consumers plow through the monetary weeds to discover the best credit card. And by the best, we mean one that matches their lifestyle, financial prowess, and spending habits.

IssuerCardType
ScotiabankSCENE VisaRewards
American ExpressSimplyCash Preferred CardCash Back
American ExpressThe Gold Rewards CardTravel Rewards
Canadian Western BankMBNA Rewards MasterCarLow Interest
American ExpressGold Rewards CardBusiness
American ExpressGold Rewards CardNo Annual Fee
BMOSPC Student MastercardStudent
In This Guide show

Best Credit Cards with a Rewards Program

Credit cards aren’t entirely “evil.” Their purpose goes beyond ushering you to spend money and essentially pushing you to be in debt. If you choose the right bank card that fits your lifestyle, you’re able to get rewards. Wouldn’t that be another incentive for you to go shopping?

To take advantage of rewards using a credit card, it’s imperative you choose one that has a clear and beneficial rewards program. Among the available options for those who want to use credit cards for rewards, the best is the Scotiabank SCENE Visa.

The Scotia SCENE is a particularly rewarding bank card for movie lovers. When you use your Scotia SCENE Visa card in Cineplex Odeon cinemas, you earn five points for every dollar spent. In any other cinema, you get one point for every dollar spent. To top it all, you’ll also receive 4000 points as a welcome bonus. That’s the equivalent of four movie tickets for FREE.

Best Credit Cards for Cash Back

A cash back reward program is a bonus for cardholders. It’s an incentive program where a percentage of the total amount spent using the credit card is reimbursed. That’s a pretty neat motivation to use your credit card, right?

There are tons of credit card companies in Canada that offer competitive cash back reward programs. Again, your spending habits play a huge role in determining which program will benefit you the most. One of the best credit cards for cash back purposes is the SimplyCash Preferred Card from AmEx.

When you acquire American Express’s SimplyCash Preferred Card, you’re bound to pay a $99 annual fee. This seems a bit costly, but if you factor in the 2% flat cash back rate on all spending, that’s a pretty good deal. It’s an even better deal if you learn how to maximize your cash back. You can earn back the annual fee easily if you’re able to spend $165 a month throughout the card’s promo period. Afterward, you need to shell out $412.5 a month.

The SimplyCash Preferred Card doesn’t only offer cash back rewards. It also features an array of insurance coverage, which includes car rental, travel, accident, and medical protection. Any purchase paid using the credit card will also instantly double any manufacturer’s warranty period. They are protected against theft as well.

5 Results Updated: July 8, 2019

19.95%

Interest Rate

Free

Annual Fee

3.00%

Balance Transfer

Promotional Balance Transfer: 1.95% interest for the first 6 months

$35,000/year

Minimum Income

Min Credit Score: 640

$25 Gift Card upon Approval

More Details

Earn cash back

Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-BackCategories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.

Earn extra Rewards

Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.

Automatic earning

Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.

Transfer and save

During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).

Track and categorize your spending

Organize your transactions and stay on top of your spending, so you can see your financial habits and you’ll get a better idea of what you have left to spend each month.

Card details

Network: Mastercard
Provider: Tangerine Credit Cards
Card type: Cashback, Low Interest, No Annual Fee, Travel Rewards

Special Offers

Earn 4% Money-Back Rewards in up to 3 Categories for 3 Months

19.99%

Interest Rate

Promotional APR: 7.99%

Free

Annual Fee

22.99%

Balance Transfer

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Cashback, No Annual Fee

Special Offers

7.99% introductory interest rate on everyday purchases for the first 6 months

19.99%

Interest Rate

Promotional APR: 7.99%

Free

Annual Fee

22.99%

Balance Transfer

No Minimum

Minimum Income

Min Credit Score: 300

More Details

More reasons to get this card for your everyday purchases

  • Gas Stations 1%
  • Grocery Stores 1%
  • Drug Stores 1%
  • Recurring Bill Payments 1%

Card details

Network: Mastercard
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Cashback

Special Offers

7.99% introductory interest rate on purchases for the first 6 months

Compare All Cash Back Credit Cards

Best Credit Cards for Balance Transfer

If you haven’t paid your credit card fee in full, then it’s likely that you have a high-interest rate on your debt. Some credit card companies charge up to 30% interest rate. This is especially true if you have missed payments before.

For instance, if your balance every month has an average of $10,000 and you need to pay everything in a year, your interest rate will cost you anywhere between $2000 and $3000 annually. That’s an additional payment you must shell out apart from the principle. That’s a lot of money that you can use for other necessities.

As such, it’s important to look for a credit card that has a low interest rate where you can transfer your balance. Most importantly, you need to strive hard to pay off your debt every month. To help you with a low-interest balance transfer, look into MBNA Canada.

One of the best credit cards for a balance transfer is from MBNA Canada. The credit card provider offers Canada’s lowest interest rate for balance transfers: 0% for 12 months. Not a lot of credit card companies offer that double perk. Some provide 0% interest rate, but only for a handful of months. Others offer a year-long low-interest rate, but not as low as 0%. But with MBNA Canada, you get the best of both worlds. Furthermore, the card doesn’t have an annual fee.

16 Results Updated: July 8, 2019

16.99%

Interest Rate

Free

Annual Fee

16.99%

Balance Transfer

Promotional Balance Transfer: 3.99% for 6 Months

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Great reasons to get this card

  • Save up to hundreds of dollars a year
  • Pay down higher interest rates balances faster
  • Transfer higher rate balances and save even more

Scotiabank No Annual Fee Credit Card with Low-Interest Rate

GET AN INTRODUCTORY 3.99% INTEREST RATE ON BALANCE TRANSFERS FOR THE FIRST SIX MONTHS

Save up to hundreds of dollars a year on interest

Save with the combination of a low-interest rate and no annual fee – it could add up to hundreds a year!

Pay down higher interest rate balances faster

Stay one step ahead of your balance – a lower interest rate makes this card an affordable way to finance those medium to large purchases you are making.

Transfer higher rate balances and save more

Switch balances over from higher-interest-rate credit cards to the No-Fee Scotiabank Value Visa Card. By consolidating your higher rate balances, you’ll save on interest and make paying bills easier.

Save up to hundreds of dollars a year

  • Introductory 3.99% interest rate on Balance Transfers for the first six months†.
  • 16.99% after the introductory rate
  • Pay down balances faster
  • Simplify your monthly payments

 

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Balance Transfer, No Annual Fee

Special Offers

3.99% introductory interest rate on balance transfers for the first 6 months

30.00%

Interest Rate

$699.00

Annual Fee

-

Balance Transfer

$40K / Year

Minimum Income

Min Credit Score: 720

More Details

  • Unlock special experiences with the newly designed metal Platinum Card
  • New Platinum Card® Cardmembers, earn 50,000 Bonus Membership Rewards® points by spending $3,000 in purchases in the first three months of Cardmembership.
  • Earn 3 points for every $1 in Card purchases on eligible dining in Canada, 2 points for every $1 in Card purchases on eligible travel, and 1 point for every $1 in all other Card purchases
  • You will have access to a $200 CAD Annual Travel Credit to use towards any single travel booking of $200 or more charged to your Platinum Card and made on www.americanexpress.ca/travel or through Platinum Card® Travel Service.
  • Take full advantage of the American Express Global Lounge Collection which unlocks access to over 1200 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium
  • Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
  • Enjoy complimentary benefits that offer an average value of $550 USD at over 1,000 extraordinary properties worldwide when you book Fine Hotels & Resorts.
  • Platinum Cardmembers can enjoy access to special events and unique opportunities
  • Enjoy premium benefits at the Toronto Pearson Airport including security bypass, complimentary valet car service and discount car care and parking
  • You will also have access to many leading hotel and car rental companies’ loyalty programs. Our partners include Marriott International, Hilton Hotels and Resorts®, Radisson Hotel Group, Hertz® and Avis®.
  • As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid interest charges.
  • Foreign Transaction Fee: 2.5%
  • *American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Balance Transfer, Travel Rewards

Special Offers

50,000 Bonus Membership Rewards® points by spending $3,000 in purchases in the first three months of Cardmembership

19.99%

Interest Rate

Free

Annual Fee

22.99%

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • New SimplyCash™ Card from American Express Cardmembers can earn 2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership
  • Earn 1.25% cash back on purchases when your Welcome Rate ends
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Optional Balance Transfer Offer – Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Access to memorable experiences with American Express Invites®
  • Insurance coverage and 24/7 Customer Service
  • Foreign Transaction Fee: 2.5%
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Balance Transfer, No Annual Fee, Travel Rewards

Special Offers

2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership

Compare All Balance Transfer Credit Cards

Best Credit Cards with Travel Rewards

If you’re a constant traveller, it’s wise to have a credit card with a solid travel rewards program. Otherwise, you’ll be missing a lot.  One of the best credit cards for travellers is the Gold Rewards Card from American Express.

This travel credit card from AmEx is suitable for all types of travellers. It’s a multi-purpose bank card that enables you to make travel-related purchases. If you’ve earned enough points, you can pay for the goods using your credit card points. The Gold Rewards Card program gives you the freedom to go for the best deals you can find. If you’re a frequent traveller, you may also convert your points into a different frequent flyer program.

50 Results Updated: July 8, 2019

19.95%

Interest Rate

Free

Annual Fee

3.00%

Balance Transfer

Promotional Balance Transfer: 1.95% interest for the first 6 months

$35,000/year

Minimum Income

Min Credit Score: 640

$25 Gift Card upon Approval

More Details

Earn cash back

Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-BackCategories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.

Earn extra Rewards

Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.

Automatic earning

Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.

Transfer and save

During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).

Track and categorize your spending

Organize your transactions and stay on top of your spending, so you can see your financial habits and you’ll get a better idea of what you have left to spend each month.

Card details

Network: Mastercard
Provider: Tangerine Credit Cards
Card type: Cashback, Low Interest, No Annual Fee, Travel Rewards

Special Offers

Earn 4% Money-Back Rewards in up to 3 Categories for 3 Months

30.00%

Interest Rate

$180.00

Annual Fee

22.99%

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • Earn a bonus of 2,000 AIR MILES®* Reward Miles when you charge a total of $5,000 in purchases to your Charge Card within your first 3 months of Cardmembership.
  • You can maximize your cash flow with up to 55 interest-free days2 and enjoy purchasing power that adjusts dynamically with Card usage.
  • You can benefit from an exclusive 25% discount on business rewards when you redeem AIR MILES Reward Miles from your Dream balance for rewards from the AIR MILES For Business Rewards catalogue, an online catalogue designed especially with the small business owner in mind.
  • Earn 1 AIR MILES Reward Mile for every $10 in Card purchases at AIR MILES®* Sponsors and 1 AIR MILES Reward Mile for every $15 in Card purchases everywhere else.
  • Make the most of a suite of business management tools that give you more control over your business anytime and anywhere.
  • With the American Express AIR MILES for Business Card, your purchasing power adjusts dynamically with your Card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history. That’s the power of a charge card.
  • As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid finance charges.
  • Foreign Transaction Fee: 2.5%
  • *American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Business, Travel Rewards

Special Offers

2,000 AIR MILES®* Reward Miles when you charge a total of $5,000 in purchases to your Charge Card within your first 3 months of Cardmembership

30.00%

Interest Rate

$499.00

Annual Fee

-

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 720

More Details

  • Earn a Welcome Bonus of 40,000 points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership
  • You can maximize your cash flow with up to 55 interest free days. Use the Card throughout the month for all of your everyday business expenses, and earn reward points while you're at it
  • Earn 1.25 Membership Rewards points for virtually every $1 in purchases and get the most out of your business expenses
  • Take full advantage of the American Express Global Lounge Collection which unlocks access to over 1200 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
  • Enjoy financial flexibility with no pre-set spending limit on purchases. With this Card, your purchasing power adjusts dynamically with your Card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history
  • Platinum Cardmembers can enjoy access to specialty services, preferential treatment and a dedicated Concierge team
  • As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid interest charges
  • Foreign Transaction Fee: 2.5%
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Business, Travel Rewards

Special Offers

40,000 points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership

Compare All Travel Rewards Credit Cards

Best Credit Cards with Low-Interest Rates

From the get-go, cardholders look for low-interest credit cards. And that’s for good reason. For one, you can transfer your balance from one card to another with a lower interest rate. Also, buying something expensive wouldn’t be a big burden if you’re only paying a small interest. Another good reason is convenience. It’s easier to shell out monthly payments if the interest rate wouldn’t break your wallet. Getting a card that has a low-interest rate should always be your top priority. It trumps any rewards program available elsewhere.

One of the best credit cards for 2018 in terms of low-interest rate is The Canadian Western Bank MBNA Rewards MasterCard Credit Card. This particular MBNA credit card is recognized for its all-time low-interest rate. This credit card has no annual fee. It also has a fixed interest rate. That means there’s only one interest rate applied for all your credit card transactions.

6 Results Updated: July 8, 2019

19.95%

Interest Rate

Free

Annual Fee

3.00%

Balance Transfer

Promotional Balance Transfer: 1.95% interest for the first 6 months

$35,000/year

Minimum Income

Min Credit Score: 640

$25 Gift Card upon Approval

More Details

Earn cash back

Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-BackCategories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.

Earn extra Rewards

Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.

Automatic earning

Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.

Transfer and save

During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).

Track and categorize your spending

Organize your transactions and stay on top of your spending, so you can see your financial habits and you’ll get a better idea of what you have left to spend each month.

Card details

Network: Mastercard
Provider: Tangerine Credit Cards
Card type: Cashback, Low Interest, No Annual Fee, Travel Rewards

Special Offers

Earn 4% Money-Back Rewards in up to 3 Categories for 3 Months

12.99%

Interest Rate

$29.00

Annual Fee

12.99%

Balance Transfer

$12K / Year

Minimum Income

Min Credit Score: 640

More Details

 

  • Save hundreds of dollars in interest a year
  • Low 12.99% interest rate
  • Pay down balances faster
  • Simplify your monthly payments
  • Up to 25% AVIS rental car discount
  • See Issuer’s site for full details.

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Balance Transfer, Low Interest

12.90%

Interest Rate

$

Annual Fee

-

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • Enjoy a low interest rate on purchases: 8.90% (min) or Prime rate + 4%
  • 12.90% or Prime rate + 8% on balance transfers and cash advances

Card details

Network: Mastercard
Provider: National Bank
Card type: Balance Transfer, Low Interest
Compare All Low Interest Credit Cards

Best Credit Cards for Business

Companies big or small need a credit line. Even entrepreneurs and startups do. If you own a business, having a credit card is imperative. Practicality-wise, the card is used to purchase things you need to run a business. And that happens a lot. From a financial standpoint, a credit card used for business helps you build a strong financial reputation. And in many instances, that counts the most.

Also, you can use your business credit card to acquire bonuses through your business expenses. To take advantage of these perks, you need to pay your balance in full all the time.

On our CompareMyRates site, you’ll find a list of credit cards that are suitable for business use. Most offer generous rewards and bonuses. Some don’t even have a fixed spending limit. But at the top of the list of the best credit cards for business is the Gold Rewards Card from AmEx.

This business credit card presents an outstanding 25,000 points just for a welcome bonus. You can get the points if you use your card for a total purchase of at least $1,500 in the first three months. That amount may look like a lot in print. However, if you run a business, that’s a pretty easy challenge to beat.  That welcome bonus amounts to $300. The points can be used to pay out the same amount that produced the points to begin with.

9 Results Updated: July 8, 2019

30.00%

Interest Rate

$180.00

Annual Fee

22.99%

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • Earn a bonus of 2,000 AIR MILES®* Reward Miles when you charge a total of $5,000 in purchases to your Charge Card within your first 3 months of Cardmembership.
  • You can maximize your cash flow with up to 55 interest-free days2 and enjoy purchasing power that adjusts dynamically with Card usage.
  • You can benefit from an exclusive 25% discount on business rewards when you redeem AIR MILES Reward Miles from your Dream balance for rewards from the AIR MILES For Business Rewards catalogue, an online catalogue designed especially with the small business owner in mind.
  • Earn 1 AIR MILES Reward Mile for every $10 in Card purchases at AIR MILES®* Sponsors and 1 AIR MILES Reward Mile for every $15 in Card purchases everywhere else.
  • Make the most of a suite of business management tools that give you more control over your business anytime and anywhere.
  • With the American Express AIR MILES for Business Card, your purchasing power adjusts dynamically with your Card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history. That’s the power of a charge card.
  • As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid finance charges.
  • Foreign Transaction Fee: 2.5%
  • *American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Business, Travel Rewards

Special Offers

2,000 AIR MILES®* Reward Miles when you charge a total of $5,000 in purchases to your Charge Card within your first 3 months of Cardmembership

30.00%

Interest Rate

$499.00

Annual Fee

-

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 720

More Details

  • Earn a Welcome Bonus of 40,000 points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership
  • You can maximize your cash flow with up to 55 interest free days. Use the Card throughout the month for all of your everyday business expenses, and earn reward points while you're at it
  • Earn 1.25 Membership Rewards points for virtually every $1 in purchases and get the most out of your business expenses
  • Take full advantage of the American Express Global Lounge Collection which unlocks access to over 1200 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
  • Enjoy financial flexibility with no pre-set spending limit on purchases. With this Card, your purchasing power adjusts dynamically with your Card usage, and can grow over time, as long as you make your payments on time and maintain a good credit history
  • Platinum Cardmembers can enjoy access to specialty services, preferential treatment and a dedicated Concierge team
  • As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid interest charges
  • Foreign Transaction Fee: 2.5%
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Business, Travel Rewards

Special Offers

40,000 points when you charge $5,000 in purchases to your Card in your first three months of Cardmembership

30.00%

Interest Rate

$250.00

Annual Fee

-

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card. This could add up to 30,000 points in a year
  • 30,000 points is enough for: An eligible short-haul flight using the Fixed Points Travel Program, or $300 in statement credits redeemed towards travel purchases charged to your Card or $300 worth of tickets on Ticketmaster.ca
  • Earn 5 points for every $1 spent on Card purchases at eligible restaurants, bars, grocery stores and food delivery in Canada
  • Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases. That's 2X the points on purchases that get you from point A to B
  • Earn 1 point for every $1 in Card purchases everywhere else. We won't tell you where to spend, we'll just reward you on your Card purchases
  • Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
  • Get advance access to tickets to some of the hottest concerts, shows and events through Front Of The Line® by American Express Invites® and advance screenings to blockbuster movies
  • Foreign Transaction Fee: 2.5%
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link. Conditions Apply

Card details

Network: American Express
Provider: American Express Credit Cards
Card type: Business, Travel Rewards

Special Offers

2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card

Compare All Business Credit Cards

Best Credit Cards with No Annual Fees

Paying an annual fee on a credit card is a debatable subject. It’s an issue not just in Canada, but in several parts of the globe. It’s hard to find a valid reason to have to spend at least $100 a year just to earn rewards. Sure, $100 isn’t as heavy on the budget as, say, $1000. And most of the time, cardholders spend that amount (or even more) in just a month. What bugs users the most is the necessity to spend the money just to earn points.

Thankfully, there are tons of credit card providers in Canada that offer $0 annual fee. They also still enable the cardholders to earn bonuses and enjoy some perks. At the very top of the list is the SimplyCash Card from American Express.

This type of credit card is AmEx’s newest lure to attract potential cardholders. And what a catch it is! The card features a low-interest rate. If you need to take out a cash advance, you may do so. Because it has no annual fee, its fixed interest rate of 22.99% is not that hard to deal with at all.

26 Results Updated: July 8, 2019

19.95%

Interest Rate

Free

Annual Fee

3.00%

Balance Transfer

Promotional Balance Transfer: 1.95% interest for the first 6 months

$35,000/year

Minimum Income

Min Credit Score: 640

$25 Gift Card upon Approval

More Details

Earn cash back

Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-BackCategories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.

Earn extra Rewards

Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.

Automatic earning

Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.

No limits

No limit on the amount of Money-Back Rewards you can earn on your everyday purchases. Conditions apply.

Transfer and save

During your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months (19.95% after that).

Track and categorize your spending

Organize your transactions and stay on top of your spending, so you can see your financial habits and you’ll get a better idea of what you have left to spend each month.

Card details

Network: Mastercard
Provider: Tangerine Credit Cards
Card type: Cashback, Low Interest, No Annual Fee, Travel Rewards

Special Offers

Earn 4% Money-Back Rewards in up to 3 Categories for 3 Months

19.99%

Interest Rate

Promotional APR: 7.99%

Free

Annual Fee

22.99%

Balance Transfer

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Cashback, No Annual Fee

Special Offers

7.99% introductory interest rate on everyday purchases for the first 6 months

16.99%

Interest Rate

Free

Annual Fee

16.99%

Balance Transfer

Promotional Balance Transfer: 3.99% for 6 Months

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Great reasons to get this card

  • Save up to hundreds of dollars a year
  • Pay down higher interest rates balances faster
  • Transfer higher rate balances and save even more

Scotiabank No Annual Fee Credit Card with Low-Interest Rate

GET AN INTRODUCTORY 3.99% INTEREST RATE ON BALANCE TRANSFERS FOR THE FIRST SIX MONTHS

Save up to hundreds of dollars a year on interest

Save with the combination of a low-interest rate and no annual fee – it could add up to hundreds a year!

Pay down higher interest rate balances faster

Stay one step ahead of your balance – a lower interest rate makes this card an affordable way to finance those medium to large purchases you are making.

Transfer higher rate balances and save more

Switch balances over from higher-interest-rate credit cards to the No-Fee Scotiabank Value Visa Card. By consolidating your higher rate balances, you’ll save on interest and make paying bills easier.

Save up to hundreds of dollars a year

  • Introductory 3.99% interest rate on Balance Transfers for the first six months†.
  • 16.99% after the introductory rate
  • Pay down balances faster
  • Simplify your monthly payments

 

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Balance Transfer, No Annual Fee

Special Offers

3.99% introductory interest rate on balance transfers for the first 6 months

Compare All No Annual Fee Credit Cards

Best Credit Cards for Students

Acquiring a credit card if you’re still a student can be a challenge. This is particularly true if it’s your first time to apply for a credit card. Some banks require students to hold at least a part-time job to get a bank card. A proof of income needs to be submitted as well. Other financial institutions even require a minimal annual fee.

Fortunately, not all credit card companies are bad for students. There are other companies that create credit card programs specifically for students. One of the best credit cards for students is the BMO SPC Student Mastercard.

This student-friendly bank card has zero annual fees and has no income required. Moreover, it features two awesome rewards programs. Once you have a BMO SPC Student card, you’ll be a member of the SPC Card student program. That means you get to save $10 on the membership fee annually (as long as you’re in school). Also, you can enjoy 10 to 15% discount at numerous retailers across Canada, thanks to SPC.

2 Results Updated: June 7, 2019

19.99%

Interest Rate

Free

Annual Fee

22.99%

Balance Transfer

$12K / Year

Minimum Income

Min Credit Score: 640

More Details

  • Earn 2,500 bonus SCENE points with your first $500 in everyday purchases in first 3 months
  • Redeem points for free movies at Cineplex Entertainment theatres, music and other entertainment rewards
  • Earn 5 Scene points for every $1 you spend on participating Cineplex Entertainment theatres or online at cineplex.com
  • Earn 1 point per dollar on everyday purchases
  • No annual fee
  • Interest Rate/Purchase Rate: 19.99%
  • Interest Rate/Cash Advance: 22.99%
  • Estimated first year rewards on credit card account following approval and if all requirements for rewards are met

Earn points on each dollar you spend on:

Entertainment - 5 points per dollar
Earn 5 SCENE points for every dollar you spend at participating Cineplex Entertainment theatre or online at cineplex.com.

Other purchases - 1 point per dollar

 

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: No Annual Fee, Student, Travel Rewards

Special Offers

Earn 2,500 bonus SCENE points with your first $500 in everyday purchases in first 3 months

19.99%

Interest Rate

Free

Annual Fee

-

Balance Transfer

Any Amount

Minimum Income

Min Credit Score: 640

More Details

  • Welcome offer: Get 5% cash back in your first 3 months*
  • Earn 1% cash cack on ALL card purchases* without restrictions!*
  • No annual fee
  • SPC discounts (Student Price Card Ltd.) of 10% to 15% at hundreds of your favourite stores*
  • Exclusive deals and access to concerts, movie premiers, sports events and more with BMO Extra Deals
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information
  • *Terms and conditions apply

Card details

Network: Mastercard
Provider: BMO Bank of Montreal Credit Cards
Card type: No Annual Fee, Student, Travel Rewards

Special Offers

Get 5% cash back in your first 3 months

Compare All Student Credit Cards

Careful Considerations in Choosing the Best Credit Card

There’s no shortage of credit card providers. Even those with a poor credit rating can still apply for a credit card. It’s up to you to figure out:

  • what type of credit card works best for your lifestyle
  • what rewards program fits your spending habits
  • how to use your credit card wisely
  • how to have discipline in using your credit card.

In choosing the best credit card, it’s important to take these factors into careful consideration:

They say that the way you use your credit can make or break your credit rating. And that’s true. Your credit card helps you build a solid credit standing. This is particularly useful when you want to apply for a loan. As such, it’s important that you understand the ins and outs of your chosen credit card. It’s also vital to realize how to maximize its benefits without ruining your credit score.

Your discipline in using your credit card makes all the difference in the world. It doesn’t matter if your card has the lowest interest rate. It won’t help even if you have the coolest rewards and perks. If you don’t know how to stop swiping your card, you’ll be in debt for a long, long time.

As mentioned above, lean towards the rewards program that will benefit your lifestyle the most. If you constantly go in and out of the country, look for a rewards program designed for travellers. If you love shopping, search for a card that rewards shopping extravaganzas. And the list goes on. If you’re going to have a credit card debt, might as well get perks and bonuses from it.

Conclusion

Much like clothes, credit cards are not one-size-fits-all. The “best credit card” is subjective. It truly depends on a variety of factors, like the way you spend and manage your money. But in general, the best credit card for 2018 is one that helps you create value. That worth can come in various ways, like competitive interest rates, reward points, and travel miles. Special loots like redeemable points, gift certificates, and paid activities are also part of a credit card’s value.