Best Rewards Credit Cards Canada

Best Rewards Credit Cards Canada

By |2018-11-29T23:51:05+00:00November 29th, 2018|Categories: Uncategorized|

What Are Rewards Credit Cards?

The basic idea behind the best rewards credit cards in 2018 is the same, although the programs come in varying formats: you receive a set number of points for each dollar spent. You can redeem your points for various types of rewards once you’ve earned enough, depending on the specific card. These include:

  • Hotel rewards cards, which allow you receive free stays at participating hotels
  • Travel rewards cards, where you earn points toward travel expenses, including flights
  • Dining cards, which give you rewards points when you dine out
  • Auto rewards cards, where you get points toward car-related purchases and gas.

How Rewards Credit Cards Work

Each purchase you make with this type of credit card gives you the opportunity to earn points, which you can later redeem for hotel rooms, flights, cash back, and other rewards. Seventy percent of Canadians pay off their balance each month, thus escaping interest charges. If you’re one of them, a quick search for the best rewards credit cards 2018 is an excellent way to benefit from making daily purchases.

Credit cards do not exist merely to assist you in spending money. You can receive benefits by just doing your routine shopping if you select the correct one for your lifestyle. The important thing is to pick a credit card that has a useful and robust rewards program that works for you.

Top 3 Canada’s Best Rewards Credit Cards

We have compiled the list below so you can easily compare the various selections offered in Canada (click on the name of each card to quickly go to its separate review).

American Express Cobalt

Interest Rate

19.99%

Annual Fee

$120

Balance Transfer: NA

Cash Advance: 22.99%

Sign-up Bonus

One of the best rewards credit cards for Canadian bon vivants and gourmands is the American Express Cobalt. For each dollar you spend when eating out you earn a whopping five points. You also receive points for food delivery, and even on grocery bills.

American Express Cobalt is diverse, in that it also offers two points for each dollar you spend on travel, including gas, hotel stays, and ground transport. For any other purchase, you earn one point per dollar. Another major plus is the welcome bonus of up to 40,000 points. To receive this bonus, you must use the card to make a minimum of $3,000 in purchases during the first three months, and then spend $500 each month for the balance of the first year.

Scotiabank SCENE Visa

Interest Rate

19.99%

Annual Fee

No Annual Fee

Balance Transfer: 22.99%

Cash Advance: 22.99%

Sign-up Bonus

Earn 2,000 bonus points with your first $500 in everyday purchases in first 3 months

Genuine movie enthusiasts can benefit significantly from Scotia SCENE. You receive five points for every dollar you spend in Cineplex Odeon theatres. If you opt to view your movies elsewhere, you’ll receive one point for every dollar you spend. The welcome bonus is 4,000 points or the equivalent of getting four movie tickets free.

This rewards configuration is worthwhile because you only need 1,000 points for a free movie ticket. Even if you don’t use your card anywhere else, since movie tickets plus popcorn cost around $17, you’ll be getting tickets free for every 10-12 visits to the cinema. You can also redeem rewards for options such as music, which begins at 1,000 points.

Scotiabank Gold American Express Card

Interest Rate

19.99%

Annual Fee

$99

Balance Transfer: 22.99%

Cash Advance: 22.99%

Sign-up Bonus

Earn 15,000 worth $150 in travel

Scotiabank Gold American Express Card offers the most exceptional reward rate in Canada at the moment: four Scotia Rewards points on grocery, gas, entertainment, and dining, and one Scotia Rewards point on anything else. You get an excellent spending bonus of $300 in free travel for every $750 spent.

With this credit card, it’s easy to redeem your points to pay for travel expenses. It carries enormous travel insurance benefits, which include trip cancellation, travel medical (and travel emergency medical), lost or delayed luggage, rental car collision, and more. If you travel, these benefits can quickly add up to around $1,000 per year.

You also get fringe benefits such as access to VIP lounges worldwide. Scotiabank Gold Amex card also gives you access to exclusive offers and discounts on airfare, hotels, cruises, vacation packages, and car rentals.

How To Choose The Best Rewards Credit Card for You

Think about your spending patterns when trying to decide on the best rewards credit cards for you. Your card should let you earn points when purchasing the things you would be buying anyway. If you’re a frequent business traveler, for instance, then a credit card with hotel rewards that give you extra points for hotel stays would be a smart choice. Someone who drives a lot would profit from an auto rewards credit card, while a large family would do well with a rewards card that earns points at the supermarket where they shop most frequently.

Conclusion – The Best Rewards Credit Cards Give You Easy Ways to Save

There is indeed a card that suits every shopper; given the many excellent rewards programs from which Canadians can choose. Find the best rewards credit cards for your shopping habits, begin earning points, and redeem those points for dining, travel, gifts, or groceries. Saving has never been easier.

Rewards Credit Cards work on a pretty simple principle – spend more to earn more. Offering a variety of perks such as cash back rewards, points and sign-up bonus – rewards credit cards let you earn money each time you spend money. This is a win-win situation for consumers and a great way to save while you spend. With so many options to choose from, we are here to help Canadians choose the best rewards credit card.

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