Compare the Best Credit Cards in Canada

What type of card or card rewards are you looking for?

The Best Credit Cards in Canada

Find the perfect card for your lifestyle with Insurdinary. The best credit card comparison website for Canadians like you.

BEST CREDIT CARDS COMPARISON IN CANADA

American Express Business Edge Card
$99Annual Fee
19.99% (P) / 21.99% (CA)

Interest Rates:

 

Key Features:
- Best business card
- No min. income
- Earn up to 42,000 bonus Membership Rewards® points in 1st year
- Earning 3 Rewards points/$1 spent on gas and transit; food and drink; office supplies; and electronics, plus 1 point per $1 spent elsewhere

$NA Minimum
Tangerine World Mastercard
$0.00Annual Fee
19.95% (P) / 19.95% (CA)

Interest Rates:

 

Key Features:
- Best no-fee balance transfer card
- Best used for flexible spending
- 1.95% balance transfer rate
- $60,000 min. income
- 2% Cash back spending  in 2 chosen categories (0.5% on other purchases)

$NA Minimum
Scotiabank Value No-Fee Visa Card
$0.00Annual Fee
16.99% (P) / 16.99% (CA)

Interest Rates:

 

Key Features:
- Best no-fee low interest credit card
- No min. income
- 3.99% introductory interest rate on balance transfers for the first 6 months

$500 Minimum
Scotia Momentum VISA Infinite Card
$120Annual Fee
20.99% (P) / 22.99% (CA)

Interest Rates:

 

Key Features:
- Best overall value cash back card
- Best used for groceries and bills
- $60,000 min. income
- 1%-4% cash back on all eligible spending

$5,000 Minimum
ManulifeMONEY+ Visa Infinite Card
$99Annual Fee
19.99% (P) / 22.99% (CA)

Interest Rates:

 

Key Features:
- Best cash back for first 3 months on groceries up to 10%
- 1-3% cash back on everything else
- Exclusive Visa Infinite benefits

$5,000 Minimum
ManulifeMONEY+ Visa Platinum Card
$0.00Annual Fee
19.99% (P) / 22.99% (CA)

Interest Rates:

 

Key Features:
- Best cash back for first 3 months on groceries up to 5%
- 1-2% cash back on everything else
- 1.99% balance transfers for the first 6 months

$1,000 Minimum
Refresh Financial Secured Visa Card
$48.95Annual Fee
17.99% on Purchases

Interest Rates:

 

Key Features:
- Best for Credit Builder/Repair Card
- No min. income
- $12.95 annual fee along with a $3/month maintenance fee which comes out to a total of $48.95

$200 Minimum
Scotiabank Value VISA* Card
$29.00Annual Fee
12.99% (P) / 12.99% (CA)

Interest Rates:

 

Key Features:
- Best balance transfer & low interest card
- 0.99% balance transfer rate
- $12,000 min. income
- Save up to hundreds of dollars a year on interest

$500 Minimum
Scotiabank Gold American Express Card
$120Annual Fee
19.99% (P) / 22.99% (CA)

Interest Rates:

 

Key Features:
- Best travel & lifestyle rewards card for everyday spending
- $12,000 min. income
- Earn up to 20,000 sign up bonus points

$5,000 Minimum
American Express Cobalt Credit Card
$120Annual Fee
19.99%/21.99%

Interest Rates:

 

Key Features:
- Best rewards card for everyday spending
- Earn up to 30,000 sign up bonus points
- Earn up to 5x points on eligible everyday spending

$NA Minimum
Scotiabank Passport Visa Infinite Card
$139Annual Fee
19.99% (P) / 22.99% (CA)

Interest Rates:

 

Key Features:
- Best No Foreign Transaction Fees Card
- Best for lounge access
- $60,000 min. income
- Earn up to 30,000 sign up bonus points

$5,000 Minimum
Tangerine Money-Back Credit Card
$0.00Annual Fee
19.95% (P) / 19.95% (CA)

Interest Rates:

 

Key Features:
- Best overall value no-fee cash back card
- Best used for flexible spending
- $12,000 min. income
- 2% Cash back spending  in 2 chosen categories (0.5% on other purchases)

$NA Minimum

What to Know Before
Choosing a Credit Card

Make sure you know what you’re looking at when you compare credit cards in Canada so there are no surprises. Knowing the fees and processes associated with each card is crucial to making the right choice.
Here are some tips to get you started!

Interest Rate

Your interest rate varies by card. This interest is charged on the carried balance, and can usually be avoided if you pay the balance in full before the end of the grace period. Interest is often higher on cash advances, compared to card purchases.

Fees

Many cards carry an annual fee. There may also be fees for late payments or one time fees for cash advances. Cash advance fees are in addition to the interest rate charged for the advance.

Sign Up Process

Sign up and approval processes vary by card. Some are extensive, with credit rating, assets, and income are all being considered for approval. Other cards have lower requirements and simple approval processes.

Your Credit Score

Be careful not to apply for too many cards at one time, or for cards that are likely to be denied. Too many inquiries from lenders in a short period can negatively impact your credit rating.

Whether You Are Pre-Approved

You may have received notices about pre-approval for credit cards in the past. Pre-approval is an estimate, since the company has not yet received permission to pull your credit information.

Looking for the BestCredit Card in Canada?

Choosing the right credit card can make a huge difference in the fees and interest you pay and the rewards you earn. It can also be a challenge to find the best card for your financial situation and current credit rating.

While credit card companies often showcase the best features on their websites, you’ll have to spend tons of time reading over the small print to find the rest of the details. This can make it very difficult to compare one card to another.

Fortunately, Insurdinary.ca makes comparing credit cards easy. Insurdinary lets you compare the details of each card, side by side, so you save time and make an informed decision.

Our Picks for the Best
Credit Cards in Canada for 2020

Learn all about our recommended credit cards, what makes them stand out, and how to get the best rates below.

Scotiabank

Scotiabank offers a wide range of credit card options to suit your needs. From low-interest rates to no annual fee to travel to their cash-back rewards program, Scotiabank offers all of the features a savvy Canadian needs. While some of the high-rewards cards require income minimums to qualify, Scotiabank offers student cards and other products for any income level.

Scotiabank Gold American Express Card

Best Travel & Lifestyle Rewards for everyday spending
Earn up to 20,000 Scotia Rewards points with your first $1,000 in purchases
$12,000 minimum income required
$120 annual fee
Interest rates: 19.99% purchases / 22.99% cash advances
$5,000 min. credit limit

Scotia Momentum Visa Infinite Card

Best overall value Cash Back Card
$60,000 minimum income required
$120 annual fee
First year annual fee waived
4% cash back on all grocery, bills & subscription fees, 2% on daily transit & 1% on everything else
Interest rates: 20.99% purchases / 22.99% cash advances
$5,000 min. credit limit

Scotiabank Value Visa* Card

Best Balance Transfer and Low Interest Card
$12,000 minimum income required
$29 annual fee
Save up to hundreds of dollars a year on interest
0.99% introductory interest rate on balance transfers for the first 6 months
Interest rates: 12.99% purchases / 12.99% cash advances
$500 minimum credit limit

Tangerine

Tangerine Bank offers just one credit card, but it’s a unique one. It offers 2% cash back on a variety of categories, including dining, fuel, lodging, pharmacy, and recurring bill payments. Unlike many cash back cards, there is no limit to how much cash back you can earn.

Tangerine also offers a tool to help you track your spending. It analyses purchase categories and helps you see where you’re spending your money and where you could be saving.

Tangerine Money-Back Credit Card

Best overall value No-Fee Cash Back Card
Unlimited Money Back
$12,000 minimum incomre required
$0 annual fee
2% Cash back spending in 2 chosen categories (0.5% on other purchases)
Track Spending Habits
Interest rates: 19.95% on purchases and cash advances

Refresh Financial

Not sure if you qualify for a credit card? Trying to rebuild damaged credit or start from scratch with no credit history at all?

Refresh Financial may offer the right credit card for you.

The Refresh Financial Secured Visa is a secured credit card. The credit limit is guaranteed by cash deposited in your account. Maintaining that balance in your account removes risk for the creditor, which makes it possible for you to qualify even without a credit check.

Refresh Financial Secured Visa Card

Best for Credit Builder/Repair Card Credit
No credit check – guaranteed approval
Build or rebuild your credit
No minimum income required
$48.95 annual fee
Access personal financial literacy dashboard
$12.95 annual fee along with a $3/month maintenance fee which comes out to a total of $48.95
Interest rates: 17.99% on purchases
$200 minimum credit limit

Manulife

Manulife bank offers two credit cards to choose from. Both offer cash-back and additional cash back rewards for the first 3 statement periods. Manulife’s no-fee credit card offers reasonable rewards with no annual fee. Their premium card offers even higher cash back rewards.

ManulifeMONEY+ Visa Infinite Card

10% cash back for first 3 months on groceries
3% cash back at grocery stores
2% cash back on travel
1% cash back on everything else
$99 annual fee
Exclusive Visa Infinite Benefits
Enjoy the travel benefits, accelerated cash back rewards and exclusive perks
Interest rates: 19.99% on purchases / 22.99%
on cash advances
$5,000 minimum credit limit

ManulifeMONEY+ Visa Platinum Card

5% cash back for first 3 months on groceries
2% cash back at grocery stores
1% cash back on everything else
$0 annual fee
1.99% balance transfers for first 6 months
Purchase protection and extended warranty insurance
Interest rates: 19.99% on purchases / 22.99%
on cash advances
$1,000 minimum credit limit

American Express

The American Express Company, also known as AMEX, is an American multinational financial services corporation headquartered in Three World Financial Center in New York City.

American Express Business Edge Card

Best Business Credit Card
Earn up to 42,000 bonus Membership Rewards® points in your first year of Cardmembership
Earn 3 times the points for Card purchases on eligible business essentials and 1 times the points on everything else.
Earn an extra 1,000 points each month that you spend at least $3,000
Earn 30,000 Welcome Bonus points when you charge $5,000 in purchases to your Card in your first three months
Redeem your points to pay for almost anything you charge to your Card
$99 annual fee
No minimum income required

Credit Cards
Frequently Asked Questions (FAQ)

You may have some common questions regarding comparing credit cards in Canada. Hopefully, our answers will make your decision a bit easier.

How can I redeem card rewards points?

One of the biggest differences between rewards cards is the way you can redeem your points. Some can be redeemed as a statement credit toward your balance, while others can be redeemed for airmiles, hotel points, gift cards, or other perks. Some can even be transferred to other rewards programs, like frequent flier or hotel VIP clubs.

Can a credit card help me improve my credit score?

Used responsibly, credit cards can help build your credit. Available credit is a factor in your credit score, and opening a new card can increase that number. Percentage of credit used is another factor, so keeping your balance low will also benefit your credit rating.

Are there cards specifically for those with low or no credit?

Those with little credit history or negative history can use a credit card to help build credit. The most likely cards in this case would be secured or guaranteed cards, since they use your deposit to support your line of credit.

What’s the best way to avoid fees and negative impacts on credit?

Timely payments are the most important factor in avoiding fees and credit damage. Set up automated payments to ensure you never miss a due date. To minimize or eliminate interest, set your auto payment before the end of the grace period each month and set it to cover your balance, not just the minimum due.

Compare more Credit Cards

Still didn’t find the right card for you. Click here for the complete credit card selection in Canada.

Insurdinary Blog

Your window to get credit card updates, tips, FAQ & more.
Read More
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram