rewards-credit-cards

Compare rewards credit cards – earn points and redeem rewards while you spend

Want to earn rewards points every time you pay with plastic? Compare rewards credit cards to find the right one for you.

Do you regularly make purchases with your credit card? A rewards card can be a worthwhile way to 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.

Scotiabank Gold American Express Card

Scotiabank Gold American Express Card

19.99 % APR

Purchase interest rate

Scotiabank Gold American Express Card

Apply today and receive a bonus of 15,000 Scotia Rewards points when you spend $1,000 in the first 3 months of card membership.

  • Purchase interest rate: 19.99%
  • Cash advance rate: 22.99%
  • Balance transfer rate: 22.99%
  • Annual fee: $99
  • Credit rating: Good
  • Minimum age: Age of majority in province/territory of residence
  • Minimum income: $12,000
Go to site
Promoted

Compare rewards credit cards for 2019

Name Product Bonus Points Rewards Program Reward Points per $ spent Purchase Interest Rate Cash Advance Rate Annual Fee
15,000
Scotia Rewards
4
19.99%
22.99%
$99
Earn 4 Scotia Rewards points per $1 on the first $50,000 annual spend on eligible purchases.
2,500
N/A
1
19.99%
22.99%
$120
Earn up to 5 points for every dollar you spend at eligible restaurants, cafés, bars and food delivery.
30,000
Scotia Rewards
SCENE
Visa Infinite
2
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.
40,000
N/A
1.25
N/A
N/A
$499
Receive access to Air Canada priority check-in and over 700 lounges in airports around the world.
5,000
Aeroplan
1
N/A
N/A
$60
Earn 1 Aeroplan Mile for every dollar spent. Double your miles on purchases at over 150 Aeroplan partner brands.
5,000
Scotia Rewards
1
19.99%
22.99%
$0 to $0
Earn 1 Scotia Rewards point per $1 spent on eligible purchases.
5
N/A
19.99%
22.99%
$99
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
Visa Infinite
19.99%
22.99%
$0 annual fee for the first year ($99 thereafter)
Enjoy a $0 annual fee for the first year.
2,000
N/A
0.1
19.99%
22.99%
$65
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
60,000
N/A
2
19.99%
22.99%
$120
Receive 5 Marriott Bonvoy points per dollar spent on eligible purchases at participating Marriott Bonvoy properties/stores, plus 2 points per dollar spent on other card purchases.
2,000
N/A
N/A
N/A
$180
Earn 1 mile for every $10 spent at eligible sponsors and 1 mile for every $15 spent anywhere else.
60,000
N/A
5
19.99%
22.99%
$150
Receive 5 Marriott Bonvoy points per dollar spent on eligible purchases at participating Marriott Bonvoy properties/stores, plus 3 points for every dollar spent on eligible gas, dining and travel.
25,000
N/A
2
N/A
N/A
$150
Earn 2 points for every dollar you spend on eligible travel and purchases and 1 point for every dollar you spend elsewhere.
50,000
N/A
N/A
N/A
$699
Get up to $200 bonus travel credit every year.
2,400
N/A
0.1
19.99%
22.99%
$299
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
40,000
N/A
1.25
N/A
N/A
$499
Earn 1.25 points for dollar you spend with no limit to the number of points you can accumulate.
N/A
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.
2.5
N/A
19.99%
22.99%
$0
Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
Visa Infinite
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.
150
N/A
1
19.99%
22.99%
$0
Earn one mile for every $15 you spend at official sponsors and one mile for every $20 you spend anywhere else.
2,500
SCENE
1
19.99%
22.99%
$0
Save on $0 annual fee and earn 1 SCENE point for every $1 spent on all purchases.
30,000
Scotia Rewards
4
19.99%
22.99%
$399
Earn 4x Scotia Rewards points per $1 spent at grocery stores, gas stations, dining and entertainment purchases.
5,000
Scotia Rewards
1
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
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
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.
15,000
N/A
1
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
1
17.99%
17.99%
$0
Get up to 5% in GM Earnings on your initial spend of $5,000 in the first year.
50,000
Aeroplan
1.25
19.99%
22.99%
$899
Receive a bonus $200 in annual travel credit to use towards flights, car rentals, hotels and more.
30,000
N/A
1
N/A
N/A
$250
Earn one point for every dollar spent and one additional point for every dollar spent at three eligible merchants of your choosing.
Tangerine Money-Back Rewards
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 July 2019.

Compare up to 4 providers

The perks and benefits of a rewards credit card

  • Earn rewards points. 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.
  • Redeeming points. 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.
  • Extra perks. 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.

What types of rewards credit cards are available?

  • 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.
Back to top

How can I compare rewards credit 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 the 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 an 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.

Who are rewards cards best suited to?

  • Frequent spenders. If you plan to use your credit card frequently, you can benefit by earning reward points each time you make a purchase.
  • Loyal customers. If you do most of your shopping through a particular retailer, these cards can be a valuable reward for your loyalty.
  • Cardholders who make regular payments. Making timely payments is crucial if you wish to make the most of your rewards credit card. This is because the outstanding balance in your account attracts interest, and the longer you take to repay it, the more you end up paying in the form of interest. Some rewards cards also withhold rewards if you’re carrying a high balance.

Who are rewards cards not suited to?

  • People in debt. If you’re already in debt, you should consider a balance transfer rather than a rewards card. The temptation of earning rewards on purchases can have negative consequences.
  • Irregular spenders. If you don’t use your credit card regularly, the fees that come with a rewards credit card may not be worthwhile. A rewards card is only beneficial if the monetary value of your rewards exceeds the costs of the card.

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.

Back to top

Are rewards credit cards really worth it?

Out of the many rewards available, cash back usually offers the best value for customers. The amount of cash back you receive depends on what you purchase. You can get cash back rewards for groceries, gas station purchases, and more.

While travel rewards credit cards usually aren’t the most popular choice, regular travelers would get more benefit from one than from a cash back rewards card. Considering that most travel cards waive the fee for the first year and offer great sign-up bonuses, they can be very valuable to frequent flyers.

Another thing to consider is that just because a credit card offers ways to earn points quickly, they aren’t necessarily a better value. Even though they have high rewards rates, it could take that many more points to actually redeem a reward.

Frequently asked questions

Was this content helpful to you? No  Yes
Go to site