What is the best credit card for you? We can help you decide.
Looking for the best credit cards in Canada? Whether you want cash back, rewards, miles, low interest or no annual fee, we we make it easy to find a great option for your next credit card. We examine and evaluate all the lenders we work with to find you the best offerings on the market, no matter what you value in a card.
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Regular APR | Annual Fee | Credit Recommended | Our take |
8,99% | No annual fee | Good | No fee card with the lowest interest rate available plus introductory balance transfer rates |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | No fee travel card with flexible points program and extra bonuses |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | No fee card with increased cash back on everyday business expenses |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | No Credit | No fee card with free SPC membership and exclusive deals and event access |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | One of the highest AIR MILES earn rates and sign-up bonuses, tailored for business spenders |
Regular APR | Annual Fee | Credit Recommended | Our take |
11,90% | $20,00 | Good | Low annual fee card with permanent low interest rate and introductory balance transfer rates |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | $150,00 | Excellent | Premium travel card with heafty sign-up bonus and flexible travel rewards program |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No Annual Fee | Good | No fee card with excellent introductory cash back and interest rates |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No Annual Fee | Good | No fee card with valuable sign-up bonus and flexible rewards program |
Regular APR | Annual Fee | Credit Recommended | Our take |
0,00% | No annual fee | No Credit | Guaranteed approval card with convenient way to store multiple currencies on one card |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | The card for Harley Davidson fans lets you build points and participate in quarterly sweepstakes |
Regular APR | Annual Fee | Credit Recommended | Our take |
14,90% | $59,00 | No credit | Guaranteed approval card that helps rebuild your credit through monthly credit union reporting |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No Annual Fee | Good | No annual fee card with excellent bonus and everyday points offering |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | $ 39,00 | Good | Low annual fee card with great cash back benefits, insurance, and concierge service |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,50% | No annual fee | Average | No fee card with cash back or credits for everyday purchases |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | No credit | Guaranteed approval card with low interest rate and low annual fee |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,97% | No annual fee | Average | Double points value for frequent PC buyers, and no annual fee |
Annual Fee | Credit Recommended | Our take |
No annual fee | Good | Basic rewards card for PC buyers, with no annual fee |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,97% | No annual fee | Good | Triple points value for high PC spenders, with no annual fee |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Excellent | The best cash back card for heavy gas and grocery spenders |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | $39,00 | Good | Low annual fee card with double cash back on everyday essentials |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | $139,00 | Excellent | Perfect for travellers with valuable rewards, premium perks, and no foreign currency transaction fees |
Regular APR | Annual Fee | Credit Recommended | Our take |
11,99% | $29,00 | Good | Low annual fee, low interest card allows you to consolidate your balances and make purchases worry-free |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | No annual fee card with valuable travel perks like a full service agent |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | $99,00 | Good | Earn up to 4 points per $1, allowing you to earn travel rewards faster |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | No fee card for loyal Shell customers |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | No annual fee | Good | No fee card with solid AIR MILES earning program and other travel benefits |
Regular APR | Annual Fee | Credit Recommended | Our take |
19,99% | $120,00 | Good | One of the best hotel rewards program with excellent bonuses and ability to transfer points easily |
Regular APR | Annual Fee | Credit Recommended | Our take |
8,99% | $39,00 | Good | Low annual fee card with permanent low interest rate and insurance benefits |
Regular APR | Annual Fee | Credit Recommended | Our take |
12,99% | No annual fee | Good | No annual fee card with permanent low interest rate and balance transfer benefits |
On a basic level, all a credit card needs to do is serve as your access point to your line of credit. However, if you settle for the basics, you’ll be missing out on a whole host of perks that many cards now offer. The Canadian credit market is hotter than ever right now, and consumers who know what they’re doing have an opportunity to secure some great deals for themselves when applying for their next credit card. We’ve collected lists of the best credit cards Canada has out there; all you have to do is choose one.
You know you’re going to be carrying a credit card no matter what, so you have to make a decision regardless. By strategically choosing one that offers bonuses or features that you want, you can make your money go further without lifting a finger yourself. Just do what you normally do, and your credit card will either rack up rewards for you or cost you less in fees than it normally would. Doesn’t that sound great?
There are several considerations someone might have in mind when choosing a credit card, and which of them matter most to you depends on what your life and spending habits look like. For some people, a great card is one with a small or non-existent annual fee, or with very low interest rates on balances carried over more than one billing period. These cards minimize the amount it costs you to have access to credit, which makes them perfect for people on tight budgets who need reliable ways to stretch every penny.
Although they might let you achieve significant savings compared to other cards, prioritizing this aspect of your credit cards will often come at the cost of getting rewards for your purchases. These cards are still beneficial if you are very cost-conscious or use your card fairly infrequently, but you should consider other criteria if possible to ensure that you aren’t missing out.
Some cards use a different method of attracting customers – they offer specific rewards based on your use of the card. The most common types of rewards are:
Travel credit cards are excellent for those who enjoy regular vacations or like to visit far-away family. Many budget-conscious people enjoy cards that give them free gas, since that is a daily necessity that they then do not have to worry about accounting for themselves. The retailer-specific points can be excellent for frequent shoppers, especially if the store in question sells many types of merchandise. Finally, cash-back cards are universally popular because their rewards can be used for anything a person wants. Reward accumulation is usually based on a percentage of your spending and may be locked to certain categories like groceries or recurring bills.
These cards are exciting because they provide tangible bonuses, but proceed with some caution: virtually all reward cards carry an annual fee, though it’s perfectly possible to receive much more in reward compensation than what you pay. How large of a fee is acceptable to you will depend on how much you regularly charge to the card. If it’s a card with designated reward categories, you should make sure that they line up with your highest spending categories.
Other than affordability and rewards from top credit cards Canada, you can get a lot more. Below are some of the benefits you get from using the top credit card in Canada.
Credit cards offer the option of extending warranties and protection of any purchases made. They offer protection when a problem arises with the product purchased. In addition, most credit cards extend the manufacturer’s warranties, therefore, protection on your purchases. Other top credit cards offer warranty for products not covered by one hence if a product gets damaged, the credit card issuer replaces the product for you. Other credit cards offer purchase price protection. This is where when you purchase a product then the store where you bought the product decides to lower the price within a certain period after you purchase the product, the credit card provider refunds you the price difference. This ensures that all your purchases are protected and you might end up spending less than you anticipated.
One thing that is common with all the top credit cards is that you are not liable to any unauthorized purchases made using your card. Credit card companies are a great line of defense between you and fraudsters, therefore, the best way to protect yourself when making any purchases online. As compared to debit cards, credit cards allow you to continue with your purchases even when your card has been used without your authorization because it does not affect your account balance. Other than unauthorized purchases, you might have made a purchase on a store but for some reason, the purchase was not as you expected and need a refund. If the store refuses to refund the money, you can always ask the credit card company to reverse your purchase, hence get your money back. Credit cards are therefore among the best line of defense when it comes to purchasing products or services. However, before signing up to any credit card, we recommend that you read and understand the terms and condition to see if they are suitable and if they provide the right amount of protection.
Credit cards can be a tool of destruction in the wrong hands. If you have a tendency of spending beyond your means, you might want to lay off on getting one. However, if you are good with managing your finances and want to grow your credit score, credit cards are the perfect tool for that. Below are the main requirements you need to fulfill in order to get one;
As already seen, credit cards can be a source of harm if used inappropriately. However, with the right usage, they offer great rewards. Below are a few of the ways you can get the best out of these credit cards;
Having one of the top credit cards Canada eases the financial burden and takes care of emergencies when they arise. However, they need careful usage to get the best out of them. Therefore, whenever you take one, it is important to use it responsibly and only when it is necessary.
As we said just above, there are risks to using any credit card even in spite of their many benefits. Even the best credit cards Canada have the potential to cause you harm if you aren’t careful about how you use them. You should still get them, of course, but taking extra care never hurt anyone.
The most obvious concern to be aware of is the potential costs of the card. Thanks to the surprisingly potent effects of compound interest, credit card debt tends to shoot up very quickly if it isn’t paid down diligently and regularly. What was once just a few hundred dollars in debt can and will become thousands if you don’t take care to make sure that it doesn’t. If you don’t want to end up indirectly paying far more than you anticipated that you would whenever you buy anything with your card, you’ll need to keep on top of every statement as it comes in and pay off as much of the balance listed there as you can. This is all a normal part of being a responsible credit user, so the sooner you get used to it, the better.
The other major risk is hit your credit score could take if things go wrong. Just as your new credit card could be used to help you build your credit, so too could it hurt your existing score if you’re too careless about how you use it. Obviously, you want to keep making your payments on time in order to avoid losing credit for infractions there, but there are other things that can cause your credit score to drop that you might not even know about. For instance, charging too much to your card at one time (more than a certain percentage of your limit, usually about 30%) can make your credit drop even if you practice perfect credit card holder behaviour otherwise. That’s why if you get one of these cards, you’ll want to make sure you use it as little as possible and constantly monitor your credit score for any changes. If you keep a close eye on things, any fluctuations that might happen will likely still be small enough when you catch them that you will be able to easily reverse them.
So now you know what the best credit cards in Canada look like and how to use them to their best advantage – now what? The next step is to actually get one to add to your wallet. Even among the best of the best, though, you’ll have plenty of options to choose from and you may not be sure of which to go for just yet. While you can’t really go wrong with highly-rated cards that offer plenty of advantages to their holders, some will always suit you better than others.
The tool you see above this text can help you to find not only the best credit cards Canada has to offer but also the best among those to fit your current needs and financial situation. It’s easy to use, too – you could have a long and detailed list of card prospects in front of you in under a minute if you know what you’re looking for. Everything is already broken down into a set of search fields for you and all you have to do is select which option you need from the list under each. Simply enter the relevant information into it as you see fit and click the search button, then read the displayed information at your leisure. By the end of the process, you should have found the perfect credit card for you without having had to do any of the research for it at all.
You can survive without one of the best credit cards Canada, but why should you have to? Apply for one of your own today and you’ll soon realize why it never makes sense to settle for anything less than the best.