Best credit cards in Canada

Most Canadians have a credit card. Fewer have the right one. A household spending $2,000 a month on groceries, gas and bills can earn anywhere from $240 to over $600 a year depending on which card sits in their wallet. The gap is not about effort. It is about category match. This guide covers the best credit cards in Canada across five categories: travel rewards, everyday cash back, no foreign transaction fees, no annual fee and groceries and dining. Each pick is based on real earn rates, realistic Canadian spending and what the card actually costs to hold after the first year.

Best credit cards in Canada at a glance

How we evaluate the best credit cards in Canada

A welcome bonus should not be the only reason to choose a card. The first-year value can look very different from the long-term value once the bonus period ends and the annual fee kicks in. The methodology behind how credit card rewards work applies directly here: a higher earn rate is only useful when the bonus categories match your real spending.

Best overall travel rewards card: BMO Ascend World Elite® Mastercard®

The BMO Ascend World Elite® Mastercard® earns 5 BMO Rewards points per $1 on eligible travel purchases, with 3 points on dining, entertainment and recurring bills, and 1 point on everything else. The welcome offer adds up to 100,000 points, a $200 NEXUS credit and a first-year fee waiver — a combination that makes the first year unusually strong in value.

The real trade-off is the income requirement. At $80,000 personal or $150,000 household, this card excludes a large portion of Canadian applicants before they even check the earn rates. The 2.5% foreign transaction fee also means it is not the card to reach for when paying in a foreign currency abroad. Travellers who want no foreign transaction fees alongside lounge access will find the Scotiabank Passport Visa Infinite a closer fit.

Best cash back card: Scotia Momentum® Visa Infinite* Card

The Scotia Momentum® Visa Infinite* Card earns 4% cash back on groceries and recurring bills, 2% on gas, transit and rideshare, and 1% on other purchases. For a household spending $800 a month on groceries and $400 on recurring bills, that is $576 a year in cash back from those two categories alone — before the $120 annual fee.

The card’s weakness is straightforward: the value concentrates in two categories. Cardholders who do not spend heavily on groceries and recurring bills will find the 1% base rate underwhelming for a $120 annual fee. The foreign transaction fee of 2.5% also makes this a poor choice for travel purchases in foreign currencies. For a broader look at cash back options, the best cash back credit cards in Canada covers cards at multiple fee tiers.

Best travel card for no foreign transaction fees: Scotiabank Passport® Visa Infinite* Card

The Scotiabank Passport® Visa Infinite* Card earns 4 Scene+ points per $1 on Scene+ Travel bookings, 3 points at Sobeys and IGA banners, 2 points on groceries, dining and transit, and 1 point elsewhere. The headline feature is the absence of a foreign transaction fee, which saves 2.5% on every purchase made in a foreign currency.

The annual fee is $150, and the card’s travel value is strongest for cardholders who actually use Scene+ redemptions for travel. Casual travellers who rarely book through Scene+ Travel or visit airport lounges may find the fee harder to justify year over year. The income requirement of $60,000 personal is more accessible than the BMO Ascend, but still excludes applicants below that threshold.

Best no annual fee card: TD Rewards Visa* Card

The TD Rewards Visa* Card earns 4 TD Rewards points per $1 on Expedia For TD bookings, 3 points on groceries, dining and transit, 2 points on recurring bills and 1 point on other purchases. For a card with no annual fee, the everyday earn rates are genuinely competitive. Points can be redeemed toward travel, Amazon.ca purchases or statement credits, which adds flexibility that many no-fee cards lack.

The travel earn rate of 4 points per $1 only applies when booking through Expedia For TD, which limits flexibility for travellers who prefer to book directly with airlines or hotels. There are also no premium perks — no lounge access, no travel insurance beyond mobile device coverage. For applicants who want no-fee rewards without income restrictions, the best no annual fee credit cards in Canada covers a wider set of options across networks.

Best card for groceries and dining: Scotiabank Gold American Express® Card

The Scotiabank Gold American Express® Card earns 6 Scene+ points per $1 at Sobeys, Safeway and affiliated banners, 5 points on dining and entertainment, 3 points on gas and transit, and 1 point on other purchases. It also carries no foreign transaction fee, which is unusual at the $120 annual fee tier.

The honest limitation here is network acceptance. American Express is not accepted everywhere in Canada, and in smaller cities or independent retailers, you may need a backup Visa or Mastercard. The 6-point grocery rate also depends on shopping at Sobeys-affiliated banners specifically — cardholders who shop at Loblaws, Metro or independent grocers earn the lower base rate instead.

How to compare credit cards in Canada and find the right fit

The strongest card on paper is not always the strongest card for your wallet. A higher earn rate is only useful when the categories match real spending. The table below maps common Canadian spending profiles to the card category most likely to deliver value — use it as a starting point, not a final answer.

• Pay in full every month — if you carry a balance even occasionally, interest charges at 19.99% to 21.99% will erase rewards faster than you earn them.
• Match categories to real spending — a 4% grocery rate only beats a 2% flat rate if you actually spend enough on groceries to cover the annual fee gap.
• Check the income requirement before applying — a hard inquiry on your credit report with a declined application is a cost with no upside.
• Factor in the foreign transaction fee — a 2.5% surcharge on foreign purchases adds up quickly for frequent travellers and regular cross-border online shoppers.
• Do not choose a card based on the welcome bonus alone — the first-year value can look very different from the long-term value once the bonus period ends.
• Consider network acceptance for your lifestyle — American Express is not accepted at all merchants in Canada, so a backup card may be necessary.

Not sure which card fits your spending? Use the card finder.

If none of the profiles above match your situation exactly, the find the right card for you lets you filter by income, spending category and annual fee preference to surface cards matched to your actual habits rather than a generic profile.