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Best credit cards for military veterans

Earn rewards and save money with low interest and fewer fees.

*Disclaimer: How we picked the best credit cards for military veterans

We’ve chosen the cards on this page based on the providers available through Finder. These cards are not representative of the entire market. Our top cards come with low fees, competitive interest rates and a good value of rewards. We’ve also considered balance transfer fees, signup bonuses and other benefits.

No single credit card will be the best choice for everyone, so compare your options before picking your new card.

Best for no annual fee and balance transfer offer: BMO CashBack Mastercard

BMO CashBack Mastercard

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The BMO CashBack Mastercard makes switching credit cards convenient with a low interest rate on balance transfers as well as a promotional cash back rate. Get 5% cash back on all eligible purchases in the first three months of card membership (up to a maximum spend of $2,500, after which standard cash back rates apply).Earn cash back at a standard rate of 3% on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.

Best for no annual fee and travel benefits: Scotiabank American Express Card

Scotiabank American Express Card

For a card with a $0 annual fee, the Scotiabank American Express Card offers great value like the opportunity to earn points that can be redeemed for thousands of rewards through the Scene+ points rogram. Earn 1 Scene+ point for every $1 spent on eligible purchases.

Most items purchased with this card are eligible for Price Protection as well as Purchase Security and Extended Warranty Protection.

Cardholders also get travel perks.

Best for no annual fee and cashback rewards: Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Card

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Earn 2% cash back in two Tangerine credit card categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else. Categories include groceries, restaurants, hotels, gas, recurring bill payments, drug store, home improvement and entertainment.

Best for low interest rate and easy approval: Capital One Low Rate Guaranteed Mastercard

Capital One Low Rate Guaranteed Mastercard

Approval for the Capital One Low Rate Guaranteed Mastercard is guaranteed if you meet basic qualification requirements such as being the age of majority, in good standing with Capital One and not having an existing Capital One credit card. This card comes with complimentary travel insurance, car rental benefits, protection on your purchases and a low 14.9% purchase interest rate.

Enjoy peace of mind with a suite of complimentary travel insurance. Common carrier travel coverage protects you, your spouse and dependent children against accidental loss of life or dismemberment for up to $250,000. You'll also get baggage insurance and 24/7 travel assistance if you need recommendations or answers to travel-related questions (additional fees may apply).

BMO Support Our Troops credit cards

Since 2008, BMO has been the Official Bank for the Canadian Defense Community. Every purchase made on one of BMO’s Support Our Troops Mastercards helps support the Armed Forces. The following cards are available for both military and non-military cardholders:

BMO Support our Troops CashBack Mastercard

BMO Support Our Troops CashBack Mastercard image

BMO Support our Troops AIR MILES Mastercard

BMO Support Our Troops AIR MILES Mastercard image

BMO credit cards

How to choose the best cards for veterans

Finding the right card may seem daunting, but to choose the best card for your situation, consider the following:

  • Do you need to rebuild your credit?
    Fighting through financial difficulties is made easy with a secured credit card. These are often better options than the standard, bank-issued cards, because of the lower interest rates and fewer fees.
  • Where do you spend most of your money?
    The Scotiabank American Express Card offers a high-value, no-annual-fee travel credit card if that’s what you need. Check out other cards if you’re looking for rewards on gas, groceries or flat rewards on all purchases.

Other credit options for veterans

Unfortunately, there’s no one-size-fits-all option. But as a veteran, you have access to special military benefits like preferred banking plans with BMO and preferred pricing on BMO lines of credit and mortgages. Check out our detailed guide to banking products for Canadian military members to learn more.

Bear in mind that if you have a good credit score, a healthy debt-to-income ratio and regularly pay your balance before it’s due, you can safely apply for any credit card you want, regardless of the card issuer. You’ll likely be able to qualify for a wide range of cards, assuming all other aspects of your application meet the issuer’s requirements.

Compare credit cards

Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
RBC Cash Back Mastercard
N/A
Up to 2% cash back
19.99%
$0
Min. recommended credit score: 650
Get 2% cash back on grocery store purchases, and up to 1% cash back on all other qualifying purchases and pre-authorized payments.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
19.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
Scotiabank Passport Visa Infinite Card
35,000 points
Up to 2 points per $1 spent
19.99%
$139
Min. recommended credit score: 750
Earn up to 35,000 bonus Scene+ points in your first year (that’s up to $350 towards travel). Apply by July 4, 2022.
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn an extra 10% cash back (up to $100) on up to $1,000 of everyday purchases in the first 2 months Until May 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
Simplii Financial Cash Back Visa Card
10% cash back
Up to 4% cash back
9.99% intro APR for the first 6 months, 19.99% thereafter
$0
Min. recommended credit score: 650
Get 10% bonus cash back at eligible restaurants and bars for the first 4 months (up to $500 spend). Plus, get a 9.99% introductory annual interest rate on purchases for the first 6 months.
RBC Avion Visa Infinite
55,000 points
Up to 1 point per $1 spent
19.99%
$120
Min. recommended credit score: 650
Get up to 55,000 Welcome Points. Get 35,000 points on approval and 20,000 bonus points when you spend $5,000 in your first 6 months. Apply by September 16, 2022.
Scotiabank SCENE Visa Card
5,000 points
Up to 5 points per $1 spent
19.99%
$0
Min. recommended credit score: 660
Earn 5,000 bonus Scene+ points when you spend a minimum of $750 on eligible purchases in the first three months as a new SCENE Visa cardholder. Apply by August 31, 2022.
OFFER
Tangerine Money-Back Credit Card
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn an extra 10% cash back (up to $100) on up to $1,000 of everyday purchases in the first 2 months Until May 31, 2022. Plus, get a 1.95% interest rate on balance transfers for the first 6 months (valid within the first 30 days of account opening, 1% transfer fee applies).
EXCLUSIVE
Neo Financial Mastercard
Get $25.00
Average 5% cash back
19.99% - 24.99%
$0
Min. recommended credit score: 600
Get $25 when you sign up for the Neo Financial Mastercard. Plus, earn bonuses like 15% cashback on your first purchase at most partners, and earn an average of 5% cashback at thousands of partners and at least 1% cashback guaranteed.
RBC Rewards+ Visa
3,500
Up to 2 points per $1 spent
19.99%
$0
Min. recommended credit score: 650
Earn up to 3,500 RBC Rewards points by going digital in the first 60 days.
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Bottom line

As a veteran, you may be looking for credit cards with low costs and good perks. Many options are available on the market for varying credit scores, financial needs and rewards preferences. Explore more options in our guide to credit cards.

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