CA · fees in CAD · 24 cards compared

Credit cards in Canada

Compare Canadian credit cards from RBC, TD, Scotiabank, CIBC, BMO, Amex Canada and Tangerine — cash back, Aeroplan, Avion and Scene+ travel cards, no-fee cards and newcomer options, with fees in Canadian dollars.

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Typical purchase rate19.99% – 21.99%
Foreign fee (typical)2.5%
Score most rewards cards want720+
Consumer regulatorFCAC
CN Tower grayscale photography

Top-rated credit cards in Canada

Ranked by our editorial rating. Fees in CAD; confirm current terms on the issuer's site.

Full table
CardAnnual feeRewardsIntro APRForeign feeCredit neededRating
American Express Cobalt CardRenters and foodies who'll transfer points to travel partners
 C$12.99/mo 5x on dining and groceries, 3x on streaming, 2x on gas and local trans… Not applicable 2.5% on foreign currency p… Good to excellent credit 4.7
Scotiabank Gold American Express CardDiners and grocery shoppers who also spend abroad
 C$120/yr 6x at Sobeys-family grocery stores; 5x on other groceries, dining and… Not applicable 0% on foreign currency pur… Good to excellent credit 4.6
TD Aeroplan Visa Infinite CardAir Canada flyers who'll redeem Aeroplan and use travel perks
 C$139/yr 1.5x points on grocery, gas and Air Canada purchases Not applicable 2.5% on foreign currency p… Good to excellent credit 4.5
BMO CashBack World Elite MastercardGrocery households near the cap who'll use the insurance perks
 C$139/yr 5% groceries, 4% transit, 3% gas and EV charging, 2% recurring bills (… Not applicable 2.5% on foreign currency p… Good to excellent credit 4.4
TD Cash Back Visa Infinite CardHigh gas, grocery and bill spenders who'll clear the fee
 C$139/yr 3% on gas, groceries and recurring bills; 1% elsewhere Not applicable 2.5% on foreign currency p… Good to excellent credit 4.4
RBC Avion Visa Infinite CardFlexible travellers who want any-airline, blackout-free flights
 C$120/yr 1.25 points per CAD1 on travel, 1 point elsewhere Not applicable 2.5% on foreign currency p… Good to excellent credit 4.3
Tangerine Money-Back Credit CardNo-fee cashback users who want to pick their own categories
 None 2% in chosen categories, 0.5% on everything else Not applicable 2.5% on foreign currency p… Good credit 4.3
CIBC Aventura Visa Infinite CardOccasional flyers who want a NEXUS rebate and flexible flights
 C$139/yr Up to 2 points per CAD1 on travel via the portal Not applicable 2.5% on foreign currency p… Good to excellent credit 4.2

Travel Rewards in Canada

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Rewards Cards in Canada

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No Annual Fee in Canada

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Premium Cards in Canada

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Airline Cards in Canada

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Cash Back Cards in Canada

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Country guide

How credit cards work in Canada

Canada's credit card market is dominated by the Big Five banks — RBC, TD, Scotiabank, CIBC and BMO — plus American Express Canada, Tangerine, National Bank and Desjardins in Quebec. Compared with the US, welcome bonuses are smaller, foreign transaction fees are almost universal at 2.5%, and a large share of the value sits in three loyalty ecosystems: Aeroplan (Air Canada), Scene+ (Scotiabank) and Avion (RBC). This page explains how Canadian cards work and which type fits which household.

How Canadian credit cards are different

  • Purchase rates cluster at 19.99%–21.99%. Low-rate cards at 12.99% exist but carry fees. Interest accrues from the statement date if you don't pay in full.
  • Foreign transaction fees are the norm. Most cards charge 2.5%. A handful — Scotiabank Passport Visa Infinite, Home Trust Preferred Visa, some Brim cards — waive it.
  • Income requirements are explicit. Visa Infinite and World Elite Mastercard tiers typically require C$60,000 personal or C$100,000 household income; premium tiers C$80,000–C$150,000.
  • Cash back is paid annually on many bank cards (TD, CIBC), monthly on Tangerine and Amex SimplyCash. Check how and when you get paid.
  • Minimum payments are regulated. Quebec requires minimum payments to rise to 5% of the balance; other provinces are typically 3% or $10.

Which card type fits you

If you…Look atTypical fee
Want cash back with no feeTangerine Money-Back, Amex SimplyCash, CIBC Dividend VisaC$0
Spend heavily on groceries and gasBMO CashBack World Elite, TD Cash Back Visa Infinite, Scotia Momentum Visa InfiniteC$120–C$139 (often waived year one)
Fly Air CanadaTD Aeroplan Visa Infinite, CIBC Aeroplan Visa Infinite, Amex AeroplanC$139–C$599
Want flexible pointsAmex Cobalt (Membership Rewards), RBC Avion Visa Infinite, Scotiabank Gold Amex (Scene+)C$120–C$155
Travel outside Canada oftenNo-FX-fee cards: Scotiabank Passport Visa Infinite, Home Trust PreferredC$0–C$150
Are new to CanadaNewcomer programmes from RBC, TD, Scotiabank and CIBC; secured cards from Home Trust or Capital One CanadaC$0

Aeroplan vs Avion vs Scene+ vs Membership Rewards

Aeroplan points are worth the most on Air Canada and Star Alliance flights (often 1.5–2 cents each) and are earned by TD, CIBC and Amex co-branded cards. Avion (RBC) points transfer to British Airways Avios, Cathay Pacific and WestJet, or book any flight through RBC at a fixed chart. Scene+ (Scotiabank) is simple — about 1 cent per point on travel, groceries at Sobeys/Safeway and Cineplex. Membership Rewards (Amex Cobalt, Gold) transfer to Aeroplan 1:1, which makes the Cobalt's 5x on groceries and dining the highest everyday earn rate in Canada.

Approval in Canada

Issuers pull from Equifax Canada and TransUnion Canada (scores 300–900). Most rewards cards want 720+; no-fee cards accept 660+; secured cards accept almost anyone with a deposit. Income thresholds for Infinite and World Elite tiers are enforced at application. Newcomers can usually get a card from a Big Five bank within weeks of arrival with proof of status — a permanent resident card, work permit or study permit — without a Canadian credit history.

Consumer protections in Canada

Federally regulated banks must give a 21-day interest-free grace period on new purchases, cannot raise your limit without consent, and must show how long the minimum payment would take to clear your balance. Liability for unauthorised transactions is limited to C$50 under network rules (and C$0 in practice for most issuers). Complaints go to the Financial Consumer Agency of Canada (FCAC) or your bank's ombudsman.

Fees to check

  • Annual fee — C$0 to C$599. Many banks waive the first year during promotions.
  • Foreign transaction fee — 2.5% on most cards, charged on top of the exchange rate.
  • Cash advance — fee of C$3.50–C$7.50 plus a higher interest rate from day one.
  • Balance-transfer fee — 1%–3% on promotional 0% offers (common at MBNA, CIBC and BMO).

Best Canadian cards by need

Frequently asked questions — Canada

What is the best credit card in Canada?

For everyday spending with no fee, Tangerine Money-Back is the easiest recommendation. For rewards, the Amex Cobalt has the highest earn rate on groceries and dining, and TD Aeroplan Visa Infinite is the standard pick for Air Canada flyers. The best card depends on whether you pay in full and where you spend.

Which Canadian credit cards have no foreign transaction fee?

Scotiabank Passport Visa Infinite, Home Trust Preferred Visa and a few Brim Financial cards waive the usual 2.5% foreign transaction fee. Most Big Five cards charge it.

What credit score do I need for a credit card in Canada?

Scores run 300–900. No-fee cards typically approve from around 660; Visa Infinite and World Elite rewards cards generally want 720 or higher plus the minimum income. Secured cards accept low or no scores.

Can newcomers to Canada get a credit card?

Yes. RBC, TD, Scotiabank, CIBC and BMO all run newcomer programmes that approve a first card without Canadian credit history, using your immigration documents. Limits start small and grow with on-time payments.

Are credit card rewards taxable in Canada?

Personal credit card rewards are generally not taxable. Rewards on business cards used for business expenses can have tax implications; check with an accountant.

Guides for Canadian readers

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