Rewards credit cards 2019

Learn how you can earn points and redeem rewards while you spend with a rewards credit card.

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Do you regularly make purchases with your credit card? A rewards card can help you get something back from your spending. Whether you’re a frequent flyer, loyal customer or big grocery spender, you can find a rewards credit card to suit almost any lifestyle.

As these cards come with fees and restrictions, compare your options to determine which card offers more rewards and more bang for your buck.

American Express Cobalt™ Card

American Express Cobalt™ Card

19.99 % APR

Purchase interest rate

Eligibility criteria, terms and conditions, fees and charges apply

American Express Cobalt™ Card

Apply today and earn up to 5 points for every dollar you spend

  • Purchase interest rate: 19.99%
  • Cash advance rate: 22.99%
  • Annual fee: $120
  • Credit rating: Fair, Good, Excellent
  • Minimum age: Age of majority in province/territory of residence
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Compare rewards credit cards for 2019

Name Product Bonus Points Rewards Program Rewards Purchase Interest Rate Cash Advance Rate Annual Fee
30,000
Scotia Rewards
5 Scotia Rewards points per $1 spent on groceries, dining and entertainment, 3 points on gas, transportation and streaming services.
19.99%
22.99%
$120
Earn 5 Scotia Rewards points per $1 spent on groceries, dining and entertainment, 3 points on gas, transportation and streaming services.
30,000
Membership Rewards
5x points per $1 spent on dining, 2x points on travel and transit and 1 point on other spend
19.99%
22.99%
$120
Earn 5x points per $1 spent on eligible dining transactions, 2x points on travel and 1 point on all other spend.
25,000
Scotia Rewards
Visa Infinite
2x points per $1 spent on grocery stores, dining, entertainment and daily transit, 1 point on all other spend
19.99%
22.99%
$139
Earn 2 Scotia Rewards points per $1 spent on eligible purchases. Plus, an extra 10,000 points with a min. annual spend of $40,000 on your card.
3,000
Air Miles
1 mile per $10 spend in purchases
19.99%
22.99%
$0 annual fee for the first year ($120 thereafter)
Get a 3¢ discount per litre at participating Shell stations. Ends 31 October 2019.
2,000
Air Miles
1 mile per $10 spent at eligible AIR MILES® sponsors, stores, drugstores and gas stations, 1 mile per $15 on all other spend
19.99%
22.99%
$65
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
40,000
Aeroplan Miles
1.25 miles per $1 on the first $25,000 annual spend, 1.5 miles for purchases over $25,000
N/A
N/A
$499
Get free annual partner ticket and unlimited access to Air Canada®** Maple Leaf Lounges as well as Air Canada®** priority check-in.
5,000
Aeroplan Miles
1 mile per $1 spent on all purchases
N/A
N/A
$60
Earn 1 Aeroplan Mile for every dollar spent. Double your miles on purchases at over 170 Aeroplan partner brands.
35,000
BMO Rewards
3 BMO Rewards points per $1 spent on dining, travel and entertainment purchases
19.99%
22.99%
$0 annual fee for the first year ($150 thereafter)
Offers 35,000 BMO Rewards bonus points upon minimum spend of $3,000 in the first three months of card membership. Ends 31 October 2019.
N/A
Cash back
5% cash back on the first 6 months (2% cash back thereafter)
19.99%
22.99%
$99
Offers 1.99% balance transfer rate in the first 6 months to new cardmembers. No balance transfer fee upon application.
5,000
Scotia Rewards
1 point per $1 spent on all purchases
19.99%
22.99%
$0
Earn 1 Scotia Rewards point per $1 spent on eligible purchases.
15,000
Aeroplan Miles
1 Aeroplan Mile for every $1 spent on eligible grocery, gas and drugstore purchases and 1 mile for every $1.50 spent on other purchases.
19.99%
22.99%
$89
Earn 1 Aeroplan Mile for every $1 spent on eligible grocery, gas and drugstore purchases and 1 mile for every $1.50 spent on other purchases.
50,000
Aeroplan Miles
Get 1.5 miles for every $1 spent on eligible grocery, gas, drugstore and Air Canada®** purchases and 1.25 miles for every $1 spent elsewhere.
19.99%
22.99%
$399
Get 1.5 miles for every $1 spent on eligible grocery, gas, drugstore and Air Canada®** purchases and 1.25 miles for every $1 spent elsewhere.
5,000
TD Rewards
3 TD Rewards Points per $1 spent on travel booking via ExpediaForTD.com, 2 points when you book via phone, 2 points on grocery, dining and bill payments and 1 point on all other spend.
19.99%
22.99%
$0
Earn 2 TD Rewards Points per $1 in grocery, restaurant, fast food purchases and regularly recurring bill payments, 3 points per $1 spent on ExpediaForTD.com travel bookings and 1 point per $1 spent elsewhere.
25,000
Aeroplan Miles
Earn 1.5 miles for every $1 spent on eligible grocery, gas, drugstore and Air Canada purchases and 1 mile for every $1 spent elsewhere. T&Cs apply.
19.99%
22.99%
$120
Earn 1.5 miles for every $1 spent on eligible grocery, gas, drugstore and Air Canada purchases and 1 mile for every $1 spent elsewhere. T&Cs apply.
80,000
TD Rewards
9 TD Points per $1 spent on Expedia For TD online, 6 points per $1 spent on Expedia For TD phone bookings and 3 points per $1 spent elsewhere.
19.99%
22.99%
$120
Earn 9 TD Points per $1 spent on Expedia For TD online, 6 points per $1 spent on Expedia For TD phone bookings and 3 points per $1 spent elsewhere.
25
Cash Back Dollars
19.99%
22.99%
$0
Earn 1% in cash back on eligible groceries, gas, and bill payments and 0.5% in cash back on all other purchases.
35,000
TD Rewards
5 TD Points per $1 spent on ExpediaForTD.com travel bookings, 3 points on grocery and bill payments and 2 points on all other spend.
19.99%
22.99%
$89
Earn 5 TD Points per $1 spent on ExpediaForTD.com travel bookings, 3 points on grocery and bill payments and 2 points on all other spend.
10
Cash Back Dollars
3% cash back on eligible groceries, gas and bill payments and 1% cash back on all other purchases.
20.99%
22.99%
$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.
800
Air Miles
2x AIR MILES reward miles per $20 at eligible partners, 1 mile for all other purchases
19.99%
22.99%
$0
Get 3¢ discount per litre at participating Shell stations. Ends 31 October 2019.
50
Cash back
1.5% cash back at Shell stations in Canada, 0.5% on all other spend
19.99%
22.99%
$0
Get 3¢ discount per litre at participating Shell stations. Ends 31 October 2019.
800
Air Miles
2x AIR MILES reward miles per $20 spent at Sobeys, 1 mile on all other purchases
19.99%
22.99%
$0
Get 3¢ discount per litre at participating Shell stations. Ends 31 October 2019.
N/A
Visa Infinite
Cash back
4% cash back on groceries & recurring bill payments, 2% on gas & public transit and 1% on all other spend
20.99%
22.99%
$0 annual fee for the first year ($120 thereafter)
Save with no annual fee for the first year. Ends 31 October 2019.
50,000
Marriott Bonvoy™
5 points per $1 spent at participating Marriott properties, 2 points on all other spend
19.99%
22.99%
$120
Receive 5 Marriott Bonvoy™ points per dollar spent on eligible purchases at participating Marriott Bonvoy™ properties and 2 points on all other spend.
2,000
Air Miles
1 mile per $10 spent at eligible AIR MILES® Partners*, 1 mile per $15 spent on all other purchases 3 months.
N/A
N/A
$180
Earn 1 AIR MILES® for every $10 spent at eligible AIR MILES® Partners* and 1 mile for every $15 spent anywhere else.
50,000
Marriott Bonvoy™
5 points per $1 spent at participating Marriott properties, 3 points on gas, dining and travel and 2 points on all other spend
19.99%
22.99%
$150
Earn 5 Marriott Bonvoy™ points per dollar spent at participating Marriott Bonvoy™ properties, 3 points on eligible gas, dining and travel and 2 points on all other spend.
25,000
Membership Rewards
2x Membership Rewards points per $1 spent on eligible travel, gas, grocery and drug store purchases ,1 point on all other spend
N/A
N/A
$150
Earn 2 Membership Rewards points for every $1 spent on eligible travel, gas, grocery and drug store purchases and 1 point for every $1 spent elsewhere.
Shell AIR MILES World MasterCard from BMO
Shell AIR MILES World MasterCard from BMO
N/A
Air Miles
1.25 AIR MILES reward miles at Shell stations in Canada, 1 mile per $15 on all other purchases
19.99%
22.99%
$99
Earn 1.25x Miles on card purchases at participating Shell stations in Canada.
50,000
Membership Rewards
3x points per $1 spent on eligible dining, 2x points on eligible travel purchases and 1 point on all other spend
N/A
N/A
$699
Earn 3 Membership Rewards points for every $1 spent on eligible dining, 2 points on eligible travel purchases and 1 point on all other spend.
2,400
Air Miles
1 mile per $10 spent on eligible partners, groceries, gas stations and drug stores and 1 mile per $15 on all other spend
19.99%
22.99%
$299
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
40,000
Membership Rewards
1.25 points per $1 spent on all purchases
N/A
N/A
$499
Earn 1.25 points for every dollar you spend with no limit to the number of points you can accumulate.
N/A
Cash back
1% cash back on purchases at eligible gas stations, grocery stores, drug stores and recurring payments and 0.5% on all other spend
7.99% intro APR for the first 6 months, 19.99% thereafter
22.99%
$0
Receive 1% cash back on payments made at petrol stations, supermarkets, pharmacies and recurring bill payments.
N/A
Cash back
2.5% cash back on all purchases in the first three months (1.25% thereafter)
19.99%
22.99%
$0
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
N/A
Visa Infinite
GM Earnings
5% GM Earnings on the first $10,000 annual spend (2% thereafter)

19.99%
22.99%
$0 annual fee for the first year ($79 thereafter)
Get up to 5% in GM Earnings upon initial spend of $10,000 in the first year and 2% subsequently.
800
Air Miles
2x AIR MILES reward miles per $20 spend at eligible AIR MILES partners, 1 mile for all other spend
19.99%
22.99%
$0
Get 3¢ discount per litre at participating Shell stations. Ends 31 October 2019.
N/A
Cash back
5% cash back on all purchases in the first three months (1.5% thereafter)
19.99%
22.99%
$0 annual fee for the first year ($120 thereafter)
Get 5% cash back in the first three months of card membership with a first year annual fee waiver. Ends 30 November 2019.
150
Air Miles
1 mile for every $15 spent at AIR MILES® Partners*, 1 mile per $20 spent on all other spend
19.99%
22.99%
$0
Earn 1 mile for every $15 you spend at official sponsors and 1 mile for every $20 you spend anywhere else.
2,500
SCENE
5x points per $1 spent at Cineplex theatres or at cineplex.com, 1 point on all other spend
19.99%
22.99%
$0
Save with no annual fee and earn 1 SCENE point for every $1 spent on all purchases.
30,000
Scotia Rewards
4x points per $1 spent at grocery stores, gas stations, dining and entertainment purchases, 1 point on all other spend
19.99%
22.99%
$399
Earn 4x Scotia Rewards points per $1 spent at grocery stores, gas stations, dining and entertainment purchases.
N/A
Cash back
5% cash back in the first three months
19.99%
22.99%
$0
Offers a 1.99% balance transfer intro rate for nine months to new cardmembers.
5,000
Scotia Rewards
1 point per $1 spent on all purchases
19.99%
22.99%
$110
Get 5% cash back on travel purchases via Scotia Rewards Travel Service and earn 1 Scotia Rewards point for every $1 spent on daily purchases.
N/A
Cash back
2% cash back on gas stations, recurring payments, grocery and drug stores, 1% on all other spend
19.99%
22.99%
$39
2% cash back on eligible gas stations, grocery and drug store purchases including recurring payments. T&C's apply.
N/A
Cash back
1% cash back on purchases at gas stations, recurring payments, grocery and drug stores, 0.5% on all other spend
7.99% intro APR for the first 6 months, 19.99% thereafter
22.99%
$0
Get 1% cash back on payments made at gas stations, grocery stores and pharmacies, including recurring payments.
Shell CashBack World MasterCard® from BMO
Shell CashBack World MasterCard® from BMO
N/A
Cash back
3% cash back at Shell stations in Canada, 1.25% on all other spend
19.99%
22.99%
$79
Earn 3% cash back at Shell stations in Canada, plus 1.25% cash back on all other spend.
15,000
Aeroplan Miles
1 mile per $1 spent on the first $10,000 annual spend, 1.25 miles for purchases over $10,000
N/A
N/A
$120
Earn 1 Aeroplan Mile for every dollar you spend up to $10,000 and 1.25 Aeroplan Miles for every dollar spent over $10,000 per year.
N/A
GM Earnings
5% GM Earnings on the first $5,000 annual spend (2% thereafter)
19.99%
22.99%
$0
Get up to 5% in GM Earnings on your initial spend of $5,000 in the first year.
50,000
Aeroplan Miles
2 miles per $1 on eligible Air Canada purchases, 1.25 miles on all other spend
19.99%
22.99%
$899
Receive a bonus $200 in annual travel credit to use towards flights, car rentals, hotels and more.
30,000
Membership Rewards
2x points per $1 spent at 3 participating merchants, 1 point on all other spend
N/A
N/A
$250
Benefit from purchasing power that adjusts dynamically with your card usage and grows with your business over time when you maintain a good credit.
800
Air Miles
2x AIR MILES reward miles per $20 spent at eligible partners and IGA stores, 1 mile on all other purchases
19.99%
22.99%
$0
Get a 3¢ discount per litre at participating Shell stations. Ends 31 October 2019.
N/A
Tangerine Money-Back Rewards
4% cash back on purchases at 3 categories in the first 3 months (Ends 31 October 2019), 2% at 2 categories and 0.50% on all other spend
19.95%
19.95%
$0
Earn 4% Money-Back Rewards in three categories of your choice such as groceries, dining, petrol and more. Ends 31 October 2019.
20,000
BMO Rewards
1 BMO Rewards point for every $1 spent and 2 points per $1 spent at eligible car rental locations
19.99%
22.99%
$0
Offers a 1.99% balance transfer intro rate for the first nine months to new cardmembers.

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Why should I consider a rewards credit card

The major draw of this type of card is earning points that can be redeemed for rewards. Depending on the card you use and the promotions in place, you may be able to earn bonus points when making certain types of purchases or shopping with a particular retailer. Additional cards linked to the account can also earn rewards points as well. What you can redeem your points for will vary from card to card. Some allow you to redeem points for flight rewards as well as shopping or travel vouchers. Others can be used for cash back, to redeem merchandise or even to donate to charity.

Some rewards credit cards come with extra benefits beyond the rewards program. Some may offer low interest on purchases, while others provide extra warranty or complimentary rental car insurance coverage. Compare the features of the card to discover which will work best with your lifestyle.

Types of rewards credit cards

  • Retail rewards. These cards offer benefits and rewards tied to a particular retailer. Some retail credit cards in Canada are available from retailers such as Costco, Canadian Tire, President’s Choice, Sobeys and Wal-Mart. Consider where you shop the most and see whether they offer a card to reward your loyalty.
  • Cash back rewards. Some credit cards let you redeem your accumulated reward points as cash back. You can use this cash back to pay credit card fees or to reduce your outstanding balance (depending on the card).
  • Gas rewards. If you use your credit card to pay for gas, this type of card could reward you every time you fill up. These cards also sometimes offer bonus points, fuel vouchers and discounts as rewards.
  • Airline rewards. Are you a regular jet-setter? Then an airline rewards credit card could be a wise choice. You can use these cards to earn airline rewards points for everyday purchases and can redeem them for rewards such as airline tickets and flight upgrades. A variety of credit card providers in Canada offer credit cards linked to airline rewards. Learn more in our detailed guide to airline rewards.
  • Travel rewards. Cardholders can earn points for both travel-related and everyday purchases. Depending on the card, you can redeem your rewards for travel perks (such as flights, upgrades and accommodation) as well as other rewards (such as gift vouchers, gadgets and homewares).
  • Hotel credit cards. If you use a particular hotel chain on every trip, you could rack up rewards for your loyalty. The points you earn for staying at the hotel can then be redeemed for discounts and vouchers.

How to compare rewards cards

  • Annual fee. While some rewards cards charge no ongoing annual fees, others charge higher annual fees. The more features the card has, the higher the fee is likely to be.
  • Rewards program. Choose a rewards program based on your lifestyle, and select the one that will offer greater rewards value. If you’re a loyal customer to a particular retailer, you could benefit from their rewards card. A frequent globetrotter might get more from an airline rewards card. While you can sign up for multiple rewards cards, using a single card for all purchases is generally the fastest way to earn points.
  • Earn rate. This refers to how many rewards points you earn per dollar spent, and generally varies from one to three points per dollar. The earn rate lets you calculate the monetary value of your points and how much you’ll have to spend to redeem a particular reward.
  • Bonus points. Cards that offer bonus points to new customers can help you kickstart your rewards points. You may need to meet some eligibility requirements before you can claim the points (such as spending a certain amount in the first three months), so make sure to confirm these conditions before applying.
  • Limitations and restrictions. Most rewards cards limit the way you can earn and redeem points. You’ll often only be able to earn points with particular retailers or airlines. If the card comes with a points cap, you’ll only be able to earn up to a certain number of points. If you’re a big spender, this could reduce your points earning potential. Keep an eye out for expiration dates on your points, too.
  • Interest costs. Interest rates will vary from card to card. Comparing these in conjunction with your spending habits will help you calculate how much you’ll have to repay over time.
  • Balance transfer. Some rewards cards offer promotional balance transfers that allow you to repay existing debt at a lower rate. As balance transfers are designed to help reduce your debt, using the same card for purchases to build up points isn’t advisable.

What are the pros and cons of using a rewards credit card?

Pros

  • Rewards for spending. You can choose a card that fits your lifestyle and earn rewards on purchases you would have made anyway.
  • Global acceptance. Most rewards cards are affiliated with Visa or Mastercard, and you can use these cards in over 200 countries and territories worldwide. While American Express credit cards aren’t as widely accepted internationally, they can still be used in many locations around the world.
  • Extra perks. Many rewards cards offer extra perks, such as complimentary rental car insurance. Compare your options to see which features work best with your lifestyle and spending habits.

Cons

  • Cost. Rewards credit cards aren’t free. For instance, you may have to pay an ongoing annual fee or the card will attract a higher APR than your basic no-frills card.
  • Limitations. Your card provider might not let you earn more than a given number of points in a calendar year, and your points can also expire after a set time frame.

A rewards credit card can be a useful way to earn extra benefits on everyday purchases. The variety of rewards credit cards available ensures that there is an option to suit almost every lifestyle. As there are so many cards on the market, and each comes with separate terms and conditions, you should compare your options to determine which one offers you the most value.

Frequently asked questions

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