Which is the best credit card in Canada? The reality is that the best credit card for you will depend on your spending habits, the features and rewards you want and your credit rating.
The vast majority of Canadians own a credit card, and around half of goods and services in Canada are purchased via credit card. To help you find your best credit card, we researched and analyzed over 150 Canadian credit cards from over 30 credit card issuers in Canada, and we’ve chosen a “best credit card in Canada” pick for each major category.
Methodology: How we chose Canada’s best credit cards for 2026
We’ve chosen the best credit cards in Canada based on the providers available through Finder. These cards are not representative of the entire market. Our top credit cards generally offer a high value of rewards points, miles or cash back, exclusive perks such as comprehensive travel insurance coverage, a signup bonus and many other benefits.
We’ve also considered annual fees, interest rates, any penalty interest rates, minimum income requirements and more factors. Some cards that were chosen as a best pick for one category may also be contenders as best picks for other categories. But in order to give you a variety of options, wherever possible we avoided listing the same card multiple times on our list. No single credit card will be the best choice for everyone, so compare your options before picking your new card.
What’s the best credit card in Canada for me?
To choose the best credit card in Canada, you need to look at how you plan to use the card as well as your current and prospective financial situation. If you want a credit card that offers rewards and perks, look at travel rewards cards or cash back options. Or, if you want a card to help manage your expenses, look into a low interest option or balance transfer card.
Balance transfer credit cards
Balance transfer credit cards let you pay off an existing debt from a credit card with low or 0% interest for a set period of time (usually up to 10 months). You might also be able to consolidate other debts with a balance transfer card, such as personal loans. If you have existing credit card debt that’s accumulating high interest, a balance transfer can help you pay off that debt faster. Check out our pick of the best credit card in Canada for balance transfers above.
Travel rewards credit cards
Travel rewards credit cards, otherwise known as frequent flyer credit cards, help you earn points or miles on everyday purchases, which can then be used for a variety of different rewards including travel and merchandise. Anyone who wants to maximize their points or miles to enjoy free flights, hotels and other benefits. You can see our pick of the best credit card in Canada for travel above.
Low interest rate cards
These credit cards offer a lower ongoing, variable interest rate on purchases when compared to other cards. If you plan on paying off purchases over time and want to keep your interest charges to a minimum, a low rate credit card could be a good option. See our top low interest rate card pick above in our list of the best credit cards in Canada.
Rewards credit cards
Rewards credit cards offer reward points (or rewards miles) based on the amount you spend. You can redeem your points for shopping, travel, gift vouchers and many other rewards. Frequent credit card users who want to maximize points or miles for everyday spending without being tied to a single airline rewards scheme. See our pick above for best credit card in Canada for earning rewards.
Premium credit cards
Premium credit cards provide access to luxury features such as complimentary insurance and concierge services. Black cards are considered the highest tier of credit cards and are typically invitation-only in Canada, with the highest earners and biggest spenders in the country swiping them. Still, there are plenty of premium credit cards that come with a host of perks that you can apply for. Check out our pick above for best credit card in Canada for premium benefits.
No annual fee credit cards
No annual fee credit cards have low or no fees, often $0 to $39 annually. This gives you the convenience of a credit card without high costs. If you regularly pay off your balance each month, a low fee card will be your cheapest option. This type of card is also practical if you rarely pay with plastic. You can see our top no annual fee card pick in our list of the best credit cards in Canada above.
Business credit cards
Business credit cards give your business access to a convenient line of credit to help you manage fluctuations in your cash flow. Additional cards and spending caps also mean you can manage your employees’ spending. There are business credit cards for individuals, small businesses and corporations that provide access to credit to help manage finances. Check out our top pick above for the best credit card in Canada for business.
Popular credit card providers in Canada
When choosing the best credit card in Canada for your needs it can help to compare offerings from some of the most popular credit card providers in Canada. For a full list, here’s our of A-Z list of credit card providers in Canada.
American Express has cards for all types of customers, including some of the best credit cards in Canada. It also offers its exclusive Experiences rewards program.
As one of Canada’s Big Five banks, BMO has some of the best balance transfer and low rate credit card options, as well as a range of travel, cash back and rewards cards.
A subsidiary of TD, MBNA offers a wide range of credit cards including co-branded cards, rewards, travel, low rate, balance transfer and cash back cards.
President’s Choice Bank powers the President’s Choice Financial Mastercard. Earn and redeem PC Optimum points at 4,500 locations across Canada including Shoppers Drug Mart and Loblaws.
RBC is the largest of the Big Five banks in Canada by market capitalization. RBC offers a range of credit cards including rewards, travel, cash back, balance transfer, no annual fee, business and low rate cards.
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 Tangerine Money-Back Credit Card is a no-annual-fee rewards credit card that lets you earn cash back on many everyday expenses. Check out other cards if you’re looking for travel rewards 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.
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.
Perks & benefits of the best credit cards in Canada
The best credit cards in Canada tend to come with a suite of perks, most of which fall into 1 of 3 categories: travel, shopping or entertainment. The best credit card for you offers perks that match your spending habits and lifestyle. Frequent flyers may want a travel card that comes with travel insurance or airport lounge access. Online shoppers can benefit from cards with fraud protection.
Here are some of the popular perks you may get with a credit card. To learn more about your rights as a credit card holder, check out this Government of Canada guide.
Travel credit card rewards
Earn extra points on travel purchases
Concierge service
Rental car insurance
Lost or delayed baggage insurance
Trip cancellation, interruption and delay insurance
Our comparison tables are completely free to use. We link you directly to the lender's secure application page. Sometimes, we have exclusive offers that you won't find on any other site.
We're experts
We've researched 150+ cards and published hundreds of financial guides. Our work has been referenced in major media outlets like The Globe and Mail, BNN Bloomberg and the Financial Post.
We're independent
We're not owned by a bank or lender. That means our opinions are our own, and you can compare a wide selection of Canadian credit cards on Finder.
We're here to help
We've helped thousands of people compare offers and find a credit card. We'll never ask for your personal information. We're here to help you make a decision.
Are Canadians getting new credit cards? 2023 statistics
In our January 2023, survey Finder asked more than 1,850 Canadians about their financial plans in 2023 and the types of financial products they were planning to open that year. Around 1 in 7 Canadians (14%) said they planned to open a new credit card account, while 3% planned to open a prepaid credit card account.
While men and women were equal in their intent to open a credit card account (14% and 14%, respectively), men were more interested in opening a prepaid credit card account (5%), compared to women (2%). Here are the other financial product accounts Canadians say they were considering opening in 2023.
Bottom Line
Canadian credit cards come with a broad range of features, perks, fees, and add-ons. Carefully comparing the best credit cards in Canada will help you find the right option for your needs. Check out our detailed credit card guide to learn more.
Best credit card in Canada FAQs
The best credit card for you depends on your financial needs and what type of credit card you want. To review all the Finder Credit Card Awards winners for best credit cards by category, click on our guide here.
Finder chose the BMO CashBack Mastercard as the best cashback credit card in Canada since it has the following earn rate: Earn cash back at a standard rate of 3% on groceries (up to a maximum of $500 per statement cycle period), earn 1% on recurring bill payments (up to a maximum of $500 per statement cycle period) and earn 0.5% on all other eligible purchases (unlimited).. For more read the whole BMO Cashback Mastercard review here.
Our experts chose the BMO CashBack Mastercard for Students as the best student credit card in Canada since it has no fee, a high cashback earn rate and a great welcome bonus. For more, read the whole BMO Cashback Mastercard for Students review here.
Required credit scores can vary. If you have a good or excellent score of 660 or higher, you may qualify for some of the best credit cards in Canada. If you have fair credit of 659 or lower, explore your options in our guide on credit cards for fair credit.
You may be limited to secured or prepaid cards if you have bad or nonexistent credit. These require initial deposits but will help you build your credit and qualify for a non-secured regular credit card if you make timely payments.
Loyalty program points and miles tend to change in value based on how you spend them and the individual program. Our full guide lets you get more information on how travel rewards credit cards work.
The top credit card signup bonuses fluctuate monthly as providers introduce new offers.
Basic credit cards often come with low-interest rates, low or no annual fees and little to no additional features. These are suitable for people who don't use their credit cards often or don't qualify for premium cards.
Premium credit cards such as gold and platinum cards typically have higher fees. Suitable for those who frequently use and pay off their cards, these come with more perks like discounted travel services, rewards points, complimentary insurance coverage and purchase protection.
Looking for a no annual fee credit card that rewards you with money for your spending? Find out if the BMO® CashBack® MasterCard®* for students is right for your needs.
Chelsey Hurst is a publisher at Finder, specializing in banking and investments. She loves empowering people to avoid financial pitfalls and make better decisions with their money. Chelsey has a Bachelor of Science from Redeemer University, a Master of Science from McMaster University, and has won multiple awards for research communication. In her spare time, Chelsey enjoys cooking and taking long walks in nature.
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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