Best premium credit cards 2019

Earn rewards on your purchases and travel in style with our picks for the best luxury cards in Canada.

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Premium credit cards typically have the highest value when used on travel and luxury related purchases, such as flights, hotel stays, dining and gas purchases. You can earn accelerated points with these types of cards and use their many perks, like annual travel credits, concierge services, complimentary lounge access and much more. While these cards can help you travel and dine in style, you’ll have to be prepared to pay a high annual fee.

How we chose the best luxury cards

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 luxury cards offer a high value of rewards or cash back, exclusive perks such as discounted luxury accommodation and concierge services, and a signup bonus. We’ve also considered annual fees and balance transfer fees.

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

Best for travel: The Platinum Card from American Express

The The Platinum Card from American Express is a metal credit card designed for frequent travellers. The card offers concierge services, an annual $200 travel credit, airport lounge access and comprehensive travel insurance. Just watch out for the annual fee of $699.

Best for earning cash back: BMO CashBack World Elite MasterCard

Offering typical World Elite benefits including airport lounge access, comprehensive travel insurance coverage and an attractive signup bonus, the BMO CashBack World Elite MasterCard can be a handy travel companion. The annual fee of $120 is waived in the first year and the accelerated cash back signup bonus allows you to earn up to $200 extra in cash back – a value of $320 in the first year.

But with a relatively low cash back rate of 1.5%, do the other perks offered make it worth paying the annual fee?

Best for earning cash back: TD Aeroplan Visa Infinite Privilege Card

With some of the most enticing features, the TD Aeroplan Visa Infinite Privilege Card is a powerful travel companion. Get access to over 1,200 airport lounges worldwide, relax with an on-hand concierge service and enjoy both Air Canada and Visa Infinite Privilege perks and discounts.Although the card comes with a pricey annual fee of $399, it can be offset with the many features offered by the card. You’ll earn between 1.25 and 1.5 Aeroplan Miles for every $1 spent on your card – and the points never expire as long as you’re a TD Aeroplan credit card holder.

Best for travel in Canada: American Express Cobalt Card

The American Express Cobalt Card earns you Membership Rewards points which can be redeemed for travel, merchandise, gift cards and statement credit. Get 5x the points when you spend at eligible grocery stores across Canada, as well as bonus points and standard Amex perks like comprehensive insurance coverage, entertainment access and more.

Best for earning Air Miles: BMO AIR MILES World Elite MasterCard

With the BMO AIR MILES World Elite MasterCard, you’ll earn 1 mile per $10 spend in purchases. Air Miles can be redeemed for flights, cash, merchandise and statement credit, with little to no restrictions.

To sweeten the deal, the card comes with an enticing signup bonus, the annual fee waived in the first year and plenty of travel related perks including airport lounge access, comprehensive travel insurance coverage, big gas savings at Shell stations across Canada and more.

Best for Air Miles perks: American Express AIR MILES Reserve Credit Card

If you’re looking for a travel credit card that allows you to do a balance transfer and earn Air Miles, the American Express AIR MILES Reserve Credit Card could be for you. It comes with an annual fee of $299.

How to choose the right luxury card for you

To choose the best premium credit card, ask yourself:

  • Would you rather earn cash back, points or miles? Compare the value of cash back, points and miles to determine which will give you more bang for your buck. Also, consider what you will use more of. If you’re not a big traveller, avoid earning miles and instead consider cash back.
  • Do you want to earn accelerated points? Accelerated points usually come with more expensive credit cards and may limit you to specific spend categories. If you spend a lot on travel, gas or groceries, try to find a card that offers accelerated rewards in the categories you spend most in.
  • Do you want to do a balance transfer? Balance transfer offers vary greatly, from 0% offers to low interest rates, offers lasting for six months and offers lasting up to ten months. Consider how much debt you have and how much you’re looking to transfer.
  • Do you want the ultimate credit card? If you’re willing to pay for it, one of the top credit cards on the market is the Platinum Card from American Express. For an annual fee of $699, this card gives you the ultimate in luxury travel benefits.
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If you’ve got a very good credit score and you’re willing to pay a high annual fee, you might qualify for a premium credit card. These types of cards typically come with an annual airline credit, accelerated points on travel purchases, complimentary airport lounge access, concierge services, shopping benefits and more.

However, if you believe there could be a better credit card for you, compare other travel credit cards or rewards cards until you find the perfect match for your spending habits and financial needs.

Compare more premium credit cards

Name Product Welcome Offer Purchase Interest Rate Cash Advance Rate Cash Back Rate Annual Fee
Receive 5% cashback (up to $300 cashback) in the first six months.
19.99%
22.99%
2%
$99
Offers 1.99% balance transfer rate in the first 6 months to new cardmembers. No balance transfer fee upon application.
Earn 2.5% cash back (up to $150 cash back) in the first three months.
19.99%
22.99%
1.25%
$0
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
First year annual fee waived for new cardholders. Ends 31 October 2019.

20.99%
22.99%
4%
$0 annual fee for the first year ($120 thereafter)
Save with no annual fee for the first year. Ends 31 October 2019.
Receive a 7.99% introductory interest rate on all spend for the first six months. Ends 31 October 2019.
7.99% intro APR for the first 6 months, 19.99% thereafter
22.99%
1%
$0
Get 1% cash back on payments made at gas stations, grocery stores and pharmacies, including recurring payments.
Offers a 7.99% introductory interest rate on all spend for the first 6 months. Ends 31 October 2019.
7.99% intro APR for the first 6 months, 19.99% thereafter
22.99%
1%
$0
Receive 1% cash back on payments made at petrol stations, supermarkets, pharmacies and recurring bill payments.
Offers a 2.99% introductory balance transfer rate for the first 6 months. Ends 31 October 2019.
19.99%
22.99%
2%
$39
2% cash back on eligible gas stations, grocery and drug store purchases including recurring payments. T&C's apply.
Get 1.95% interest rate on balance transfers for the first six months. Valid within the first 30 days of account opening.
19.95%
19.95%
2%
$0
Earn 4% Money-Back Rewards in three categories of your choice such as groceries, dining, petrol and more. Ends 31 October 2019.
Earn 10% cash back on all purchases for the first 3 months (up to a total spend of $2,000). Ends 1 December 2019.
20.99%
22.99%
3%
$0 annual fee for the first year ($120 thereafter)
Get 3% cash back on eligible groceries, gas and bill payments and 1% cash back on all other purchases.
Earn $25 cash back if your account is active and in good standing within 90 days of account opening. Ends 20 September 2019.
19.99%
22.99%
1%
$0
Earn 1% in cash back on eligible groceries, gas, and bill payments and 0.5% in cash back on all other purchases.
Get $50 limited bonus cash back upon first spend. Ends 31 October 2019.
19.99%
22.99%
1.5%
$0
Get $50 limited bonus cash back upon first spend. Ends 31 October 2019.

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