6 best Canadian Mastercards of 2023

Best no-fee Mastercard for cash back
Tangerine Money-Back Credit Card

Credit recommended (600-) Apply now on Tangerine's secure site

600
Min. credit score

$0
Annual fee

6 months
1.95% intro transfer APR

Up to 2%
Cash back

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• Pros & Cons
• Details

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. Plus, get access to a 1.95% interest rate on a balance transfer for the first 6 months.

• 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.
• This card comes with a $0 annual fee.
• Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023.
• Get a 1.95% interest rate on balance transfers for the first six months. To take advantage of this offer, you must complete the Balance Transfer request within 30 days of account approval and activate your card within 45 days of approval. A balance transfer fee equaling the greater of 3% or $5 will be charged on each transferred amount (fee is waived by Tangerine if you're a resident of Quebec).

• Receive only 0.5 cash back on all other categories of spending.
• You'll pay a foreign transaction fee of 2.5% on all overseas purchases.
• Pay a balance transfer fee of 3% of the total transferred amount or $5, whichever is greater.

Annual fee	$0
Purchase APR	19.95%
Balance transfer APR	1.95% intro for the first 6 months (then 19.95% )
Balance transfer fee	$5 or 3% of the transaction, whichever is greater
Rewards	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.

Best Mastercard for cash back
BMO CashBack World Elite Mastercard

Credit recommended (760-) Apply now on BMO's secure site

760
Min. credit score

$120 ongoing
Annual fee

Up to 5%
Cash back

10%
Welcome offer

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• Pros & Cons
• Details

This card offers a wide range of benefits including an attractive signup bonus and the opportunity to earn cash back. Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year. After the promotional period ends, continue to enjoy rewards at the regular rate. Earn 5% cash back on groceries, 4% on transit including ride sharing, taxis and public transportation, 3% on gas and electric vehicle charging, 2% on recurring bill payments and 1% unlimited cash back on all eligible purchases. Plus, cardholders can enjoy a host of travel and entertainment perks.

• Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.
• Earn 5% cash back on groceries, 4% on transit including ride sharing, taxis and public transportation, 3% on gas and electric vehicle charging, 2% on recurring bill payments and 1% unlimited cash back on all eligible purchases.
• Get access to extensive travel perks. Get complimentary membership in Mastercard Travel Pass provided by DragonPass.
• Get up to a 25% discount at National Car Rental and Alamo Rent A Car locations with complimentary Collision Damage Waiver benefits (MSRP of up to $65,000).
• Get 15% off admission to Cirque du Soleil shows touring Canada, and 20% off resident shows in Las Vegas.
• You'll get up to $2 million Out-of-Province/Out-of-Country Emergency Medical benefits.

• This card has an annual fee of $120.
• You'll need to accrue at least $50 in cash back before you can redeem.
• This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.
• You'll need to earn a personal income of at least $80,000, or a combined household income of at least $150,000 annually to apply.

Annual Fee	$0 intro annual fee for the first year ($120 thereafter)
Purchase APR	20.99%
Cash Advance Rate	23.99% (21.99% for Quebec residents)
Balance transfer APR	22.99%
Welcome offer	Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.
Rewards	Earn 5% cash back on groceries, 4% on transit including ride sharing, taxis and public transportation, 3% on gas and electric vehicle charging, 2% on recurring bill payments and 1% unlimited cash back on all eligible purchases.

Best Mastercard for low interest
MBNA True Line Gold Mastercard

Credit recommended (660-) Read review

660
Min. credit score

$39
Annual fee

8.99%
Purchase Rate

24.99%
Cash Advance Rate

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• Pros & Cons
• Details

The MBNA True Line Gold Mastercard has one of the most competitive interest rates on the Canadian market. You'll only be charged a 8.99% purchase interest rate, and a 8.99% on balance transfers (in addition to a 3% fee). This card is ideal for people who value having a lower interest rate over having credit card rewards or perks.

• You'll only have to pay an interest rate of 8.99% on purchases.
• You can get a 8.99% interest rate on balance transfers (though you'll have to pay a 3% transfer fee).
• You'll be able to order up to 9 additional cards at no extra fee.
• Most items you buy on your card are protected against loss and damage for up to 90 days
  days.
• You'll get support when you travel with lost tickets and luggage assistance, pre-trip information and legal assistance where necessary.
• You'll get double your manufacturer's warranty on consumer goods (up to 1 year) when you purchase them with your card.

• You'll have to pay a $39 annual fee to maintain this card.
• You'll have to pay a 3% fee on any balance transfers.
• You'll be charged 24.99% on cash advances.
• This card doesn't come with any rewards or cashback programs.
• This card doesn't come with any additional benefits like travel insurance, mobile device protection or roadside assistance.

Annual fee	$39
Purchase APR	8.99%
Balance transfer APR	8.99%
Balance transfer fee	3%
Rewards	N/A

Disclaimer

Please note: All information about MBNA True Line Gold Mastercard has been collected independently by Finder and this card is not available through this site.

Best Mastercard for travel
BMO AIR MILES World Elite Mastercard

Credit recommended (760-) Apply now on BMO's secure site

760
Min. credit score

$120 ongoing
Annual fee

Up to 3x
Miles

2,000
Miles welcome offer

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• Details

Earn accelerated AIR MILES that can be redeemed for travel perks and merchandise. Get 3 Miles for every $12 spent at participating AIR MILES Reward Partners, 2 Miles for every $12 spent at any eligible grocery store and 1 AIR MILE for every $12 spent on eligible purchases. Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.

• Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.
  
• Earn mile per $10 spend in purchases.
• Get a 15% discount on all AIR MILES flights in North America with no blackout periods.
• Get peace of mind with a wide range of travel insurance benefits including up to $2,000,000 Out-of-Province/Out-of-Country Emergency Medical Protection as well as coverage for delayed flights, trip cancellations, interruptions and delays, rental car collision damage and baggage loss, theft or damage.
• Get up to a 25% discount at National Car Rental and Alamo Rent A Car locations with complimentary Collision Damage Waiver benefits (MSRP of up to $65,000).

• This card has an annual fee of $0 in the first year and $120 thereafter.
• This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.
• You'll need to earn a personal income of at least $80,000, or a combined household income of at least $150,000 annually.

Annual Fee	$0 intro annual fee for the first year ($120 thereafter)
Purchase APR	20.99%
Cash Advance Rate	23.99% (21.99% for Quebec residents)
Balance transfer APR	22.99%
Welcome offer	Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.
Rewards	Get 3 Miles for every $12 spent at participating AIR MILES Reward Partners, 2 Miles for every $12 spent at any eligible grocery store and 1 AIR MILE for every $12 spent on eligible purchases.

Best Mastercard for students
BMO CashBack Mastercard For Students

Credit recommended (660-) Apply now on BMO's secure site

660
Min. credit score

$0
Annual fee

Up to 3%
Cash back

5%
Welcome offer

• Info
• Pros & Cons
• Details

The BMO CashBack Mastercard For Students offers a $0 annual fee and the chance to earn cash back. Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases. Plus, new cardholders can take advantage of an appealing signup bonus. Get up to 5% cash back in the first three months (up to a maximum spend of $2,500, and earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases thereafter).

• The minimum required income for this card is $0.
• This card comes with a $0 annual fee.
• Get up to 5% cash back in the first three months (up to a maximum spend of $2,500, and earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases thereafter).
  
  
• Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.
• Eligible items charged to your card are automatically insured against theft and damage. Plus, double the original manufacturer's warranty on eligible items purchased with your card by up to 1 additional year.
• Get up to 25% off on car rentals with National Car Rental and Alamo Rent A Car.

• This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.
• You won't get many of the complimentary add-ons that usually come with more premium credit cards such as travel insurance and flight and hotel credits.

Annual Fee	$0
Purchase APR	20.99%
Cash Advance Rate	22.99% (21.99% for Quebec residents)
Balance transfer APR	22.99%
Welcome offer	Get up to 5% cash back in the first three months (up to a maximum spend of $2,500, and earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases thereafter).
Rewards	Earn 3% cash back on groceries, 1% on recurring bill payments and 0.5% on all other eligible purchases.

Best Mastercard for bad credit
Capital One Guaranteed Secured Mastercard

Credit recommended (N/A-) Read review

N/A
Min. credit score

$59
Annual fee

19.8%
Purchase APR

From $75
Min. deposit

• Info
• Pros & Cons
• Details

The Capital One Guaranteed Secured Mastercard is a guaranteed-acceptance card, as long as you meet some basic qualification requirements. You'll have to submit at least the minimum security deposit of $75, which becomes your available card balance. This card comes with a number of travel benefits like common carrier travel accident insurance, car rental collision/loss damage waiver, baggage delay coverage and travel assistance. Purchases made on your card will also be covered with a price protection service, purchase assurance and extended warranty coverage.

• Enjoy an interest rate of 19.8% on your everyday purchases.
• This card comes with a number of travel benefits including common carrier travel accident insurance, car rental collision/loss damage waiver, baggage delay coverage and travel assistance.
• Purchases on your card are covered with a price protection service, purchase assurance and extended warranty coverage.
• You'll be approved for this card if you meet basic criteria such as being the age of majority in your province or territory, being in good standing with Capital One, not having an existing Capital One credit card and being able to submit a minimum security deposit.
• You can use this card with a deposit as small as $75.
• Enjoy protection from unauthorized use of your card with Mastercard Zero Liability protection.

• This card comes with an annual fee of $59.
• Because this is a secured credit card, the amount you can spend is limited to what you can load onto the card up to a maximum of $2,500.
• The Capital One Guaranteed Secured Mastercard doesn't offer rewards points or cash back on your purchases.

Annual fee	$59
Purchase APR	19.8%
Balance transfer APR	19.8%
Recommended minimum credit score	N/A

Disclaimer

Please note: All information about Capital One Guaranteed Secured Mastercard has been collected independently by Finder and this product is not available through this site.

What are the benefits of using a Mastercard?

Mastercard, a third party payment processor, is a common credit card option offered by a large number of credit card providers in Canada. It is not very different from its main competitor, Visa, given that credit cards with either logo find acceptance in most countries around the world.

Here’s a look at the key benefits of using a Mastercard:

What are the features of a Mastercard credit card?

While credit cards with all the bells and whistles from insurance to rewards points are great, you need a credit card that comes with convenience and safety first. These are the key features of a Mastercard credit card:

• Easy access to funds.
  While you can use your Mastercard to make in-store, online and over the phone purchases, you can also use it for cash advances at ATMs and supporting financial institutions.
• Mastercard SecureCode.
  This online program provides additional security when your credit card details make it to the online marketplace, minimizing the possibility of unauthorized or fraudulent usage.
• Zero Liability.
  Mastercard’s Zero Liability policy protects cardholders from any unauthorized or fraudulent charges.

How can I compare Mastercard credit cards?

The kind of Mastercard that is right for you depends on your particular requirements. Keep in mind that you should always pay attention to the interest rate and fees that each card charges, as they could vary for different Mastercard products depending on the features the card offers.

If you’re on the fence about which Mastercard to go with, here are some important factors to help you narrow down your shortlist:

• Fees.
  The fees you end up paying depend on the credit card provider you choose to go with, as well as the card you get. A basic no-frills Mastercard might require you to pay little or no annual fees compared to a gold or platinum Mastercard that may have a higher annual fee.
• Interest rate offers.
  Compare Mastercard products based on any promotional interest rates that can help you cut costs with either balance transfer offers or no annual fee for the first year.
• Credit card provider.
  Since they determine many of the features and fees that come with the card, it’s important to consider which bank or institution will issue the credit card. You may choose to go with your main banking institution or your favourite retailer for convenience’s sake.
• Rewards.
  You can find several Mastercard credit cards linked to various rewards and travel rewards programs. This is something you should consider if you’re looking to earn points or cashback as you spend.
• Complimentary insurance.
  Some Mastercard products offer complimentary insurance including extended warranties, price protection, Mastercard ID Theft Protection, global services, travel insurances and more.

Compare Mastercard credit cards

How to activate Mastercard credit cards online

Online Mastercard activation is often the fastest way to start using your card, but you’ll first need an online account with your provider. If you don’t yet have one, enrol by providing personal information such as your Social Insurance Number and date of birth, then:

1. Log in to your card provider online account.
2. Find your new credit card under Accounts.
3. Enter your credit card information, such as your card number, expiration date and CVV/CVC.
4. You may need to verify your ID with information like your date of birth and Social Insurance Number.

How to activate Mastercard credit cards by phone

Card activation by phone is another widely-used method. Here’s how to do it:

1. Call the number on the back of your card.
2. Request to activate your card.
3. Provide your Mastercard credit card’s information.
4. You may be required to provide personal information as well.

How to do your Mastercard activation with a mobile app

Most large card providers allow you to activate Mastercard credit cards with their mobile app.

1. Download the card provider’s app from the App Store or Google Play.
2. Log in with your online account username and password.
3. Look for your card under Accounts.
4. Follow the prompts.

What security features come with Mastercard credit cards?

These are the main security features and services provided by Mastercard credit cards:

• Chip technology. A chip is embedded inside each credit card to enhance payment security. This chip creates unique data with each new transaction, and it also makes counterfeiting much more difficult.
• Zero liability policy. This policy protects you from unauthorized transactions made in stores, online, on your mobile device or over the phone. With reasonable care to protect your card against loss and theft and prompt reporting to your card provider, you aren’t liable for transactions at the hands of someone else.
• Identity theft resolution. Get help resolving identity theft 24/7 at 1-800-307-7309 or call collect at 1-636-722-7111. Its certified resolution specialists help you notify relevant credit bureaus to cancel your compromised card and arrange for a replacement.
• SecureCode. Select card issuers offer this service that enhances the security of online transactions when you’re shopping at participating online stores. This extra step at checkout results in a code received by text that you enter before your purchase can be processed.
• Tokenization. Translate chip technology into the online environment with this process that replaces your Mastercard account number with a unique token good for an online, mobile or contactless payments.

Are Mastercard’s contactless payments secure?

Contactless payments come with encryption that is unique to every purchase. And since the card or your mobile device doesn’t leave your hand, it reduces the risk of loss or counterfeit. In case you tap twice by accident, Mastercard will make sure to bill you only once. This makes the payment method one of the safest ways to pay.

Contactless payments are just as popular in Canada as regular debit and credit card transactions. Smartphone technology and apps such as Google Wallet and Apple Pay allow contactless payments from your mobile phone or other smart devices. These methods are also covered by Mastercard’s Zero Liability policy and tokenization.

Other credit card security features

Security features offered by your credit card issuer can include a selection of features that include:

• Chips and physical security. Your unique account number, 3-digit CVV code, signature panel, hologram and account name work together to keep your card secure.
• Fraud monitoring. Most card issuers offer specialized teams that routinely monitor your account for fraud, reporting and investigating irregular transactions immediately. Many issuers also call or text to confirm that it was you who authorized a purchase.
• Chargebacks. If you discover an error or suspicious charge on your statement or fail to receive the merchandise you’ve paid for, you can start an investigation on your behalf. Your card provider may initiate a dispute with a merchant to reverse the transaction.

How does Mastercard travel insurance work?

Travel insurance is another useful perk that some Mastercard issuers provide. Before you purchase travel insurance through an independent provider, it may be worth checking your Mastercard’s travel insurance to see what your policy covers and if you can buy an extended policy. In some cases, all you need to do is book your trip with your Mastercard for the benefits to kick in while others require you to buy an additional policy via your Mastercard issuer.

Depending on your provider, your Mastercard may come with these key features or you can take out additional coverage to your existing benefits:

Travel medical insurance

This insurance covers the cardholder in the event that you need medical treatment while you’re on vacation. You’ll need to check your issuer’s policy to ensure your spouse or dependents are included in this coverage. Another caveat is the duration of coverage. Most travel insurance included with credit cards, especially ones without an annual fee, are capped out at 7 to 14 days. Some travel-specific cards can come with coverage up to 31 days.

Travel accident insurance

Travel accident insurance covers you, the cardholder, your spouse and any dependants in the case of bodily injury, including death, during travel. A physical loss includes life, speech, hearing or limbs. This is another key feature that you’ll need to check exists within your Mastercard’s travel insurance. RBC’s WestJet Mastercard travel insurance, for example, includes travel accident insurance of up to $500,000 in the event of loss while travelling on a common carrier.

Trip cancellation/interruption insurance

When you’re travelling, delays and cancellations are inevitable. Trip cancellation/interruption insurance covers you if you need to cancel your trip for a qualifying reason, such as an injury before your travel date or an adverse reaction to vaccinations required for your trip. You can also count on trip interruption insurance to kick in if your flight is delayed by a set amount of hours, usually 4. With this insurance, you won’t be left on the hook to pay for a trip you are unable to take, and you can rely on reimbursed funds to plan another vacation instead. Watch out for caps on how much you can claim, along with the list of eligible causes for cancellation. The policy for the BMO Mastercard travel insurance, for example, points to a maximum claim of up to $2,500 per insured person for an overall maximum of $5,000 per account.

Lost luggage/baggage delay insurance

Unlucky travellers may find themselves at their destination without their luggage waiting for them on the carousel. When this unfortunate situation happens, it’s great to have lost luggage and baggage delay insurance on your side. In this case, this insurance provides compensation when your baggage is lost, damaged or delayed. Either the insurance will reimburse you for the cost of your lost items or it will reimburse you for expenses you may incur for replacing items that are lost in transit.

Travel insurance coverage varies between credit card companies, so the onus is on you to do your homework and read the fine print for your policy. Clarify what basic coverage is provided with your Mastercard, the duration of time that cardholders receive coverage for each trip, who is covered under your policy, and if you need to buy supplemental insurance via your issuer.

How does Mastercard rental car insurance work?

While certain Mastercard products do offer car rental insurance, this benefit’s inclusion ultimately comes down to the issuer’s discretion. Check with your issuer to see if you have access to the feature. If this feature is important to you and you don’t necessarily want a Mastercard, compare other credit cards with car rental insurance.

What does Mastercard rental car insurance cover?

Mastercard car rental insurance covers your rental vehicle against physical damage and theft. It may also pay for reasonable loss-of-use and towing charges. To get this coverage, use your Mastercard to pay for the entire rental and decline the rental company’s coverage.
Mastercard car rental insurance is secondary, which means you can claim through it only after you’ve claimed through the following:

• Your, or your authorized driver’s, primary auto insurance.
• Coverage from the rental agency.
• Other forms of insurance.

There is good news: In most cases, your Mastercard policy will cover your deductible for your primary auto insurance or other forms of coverage. It’s worth noting that Mastercard car rental insurance applies worldwide, except where it’s prohibited by law or where it conflicts with a country’s law. PC Mastercard car rental insurance, for example, may not apply to rentals in foreign countries. Check with your issuer before you travel if you intend on using car rental insurance while you’re abroad.

As a general rule, Mastercard car rental insurance coverage will typically pay the lesser of:

• $65,000 (vehicles with an MSRP of $65,000 or less).
• The actual repair amount.
• The wholesale market value of the vehicle.
• The purchase invoice from the rental agency.

What does Mastercard rental car insurance not cover?

Keep in mind, Mastercard car rental insurance doesn’t cover all types of vehicles. These are excluded:

• Trucks, including pickups, cargo vans, off-road vehicles, sport utility trucks and more.
• Trailers, motorcycles, motorbikes and any other vehicle with fewer than 4 wheels.
• Antique vehicles.
• Limousines.
• Any vehicle with an MSRP over $65,000.

There is also a long list of instances when your Mastercard car rental insurance will be void. But here are the highlights that cover the vast majority of exceptions:

• Personal items, vehicle keys and portable GPSs aren’t covered.
• You aren’t covered for damage or theft to your vehicle due to negligence, such as driving while intoxicated, not locking or securing your vehicle, or using your vehicle in a manner contrary to your rental agreement.

How to make a Mastercard rental car insurance claim

Follow these steps to use your Mastercard car rental insurance:

1. Pay for your entire rental with your eligible Mastercard. Decline the rental company’s coverage.
2. In the event of an incident, call your Mastercard benefit administrator immediately at 1-800-MASTERCARD. A representative will give you the next steps and tell you which documentation to submit.
3. If necessary, file a police report immediately.
4. Within 180 days of the incident, return the documentation requested by your benefit administrator.

The list of information to include with your claim is fairly standard, though you’ll have to do a bit more legwork if you’re claiming for loss of use. Required documentation includes:

• Your claim form, signed and completed.
• The receipt for your rental.
• Your credit card statement showing that you paid for the rental with your Mastercard.
• A copy of the rental agreement, front and back.
• A copy of your driver’s licence, front and back.
• A copy of the declarations page of your primary insurance or other coverage.
• A police report if your vehicle isn’t drivable, was stolen or vandalized, was involved in a multi-vehicle collision or was involved in a collision that required the vehicle to be towed.
• An itemized repair estimate from an authorized repair facility.
• If applicable, a copy of the promotion or discount from the rental company.
• If you’re claiming for loss-of-use charges, a copy of the vehicle’s class-specific fleet utilization log from the rental company.
• Other information requested by your benefit administrator.

If you’re unsure of what your Mastercard car rental insurance covers, call your issuer or read through your policy carefully. You can find your issuer’s full policy online. The policy for the BMO Mastercard car rental insurance, found online, includes details on car rental benefits, collision damage waiver benefits, and even limitations and exclusions.

What other types of insurance are included with Mastercard?

Rewards points, loyalty programs, cashback, travel and car rental insurance – Mastercard cardholders pick up plenty of perks while making purchases with plastic. There are a few more benefits of paying for big purchases on your Mastercard too, including:

• Extended warranty insurance. Did you know that paying for a big purchase like a new laptop, state-of-the-art blender or tablet on your Mastercard can extend your warranty for up to 1 year? Mastercard cardholders can save a chunk of change by using this hack and skipping out on paying for additional warranty insurance.
• Price protection insurance. If you find your latest buy has dipped in price within a set time, usually about 30 days, you can use your Mastercard’s price protection insurance to get reimbursed for the difference. Keep in mind, there is typically a minimum and maximum reimbursement amount for this feature.
• Purchase security insurance. Another great Mastercard feature is purchase security insurance, which applies if an item you purchased on your credit card is lost, stolen or damaged. If, for example, your new iPhone 12 Pro is stolen, you can apply for a claim, providing your police report and any other documentation of theft or robbery.

Where can I get Mastercard credit cards in Canada?

If you’re ready to take the plunge and sign up for a Mastercard, you’re spoiled for choice when it comes to issuers in Canada. Below is a list of issuers that provide Mastercard credit cards across the country, from Canada’s top 5 banks to major retailers.

Keep in mind that these Mastercard credit cards are issued by these institutions, not by Mastercard itself. Each issuer has its own set of perks and loyalty programs to sweeten the deal for your new Mastercard credit card.

• ATB Financial. Serving the province of Alberta only, ATB financial offers a variety of credit cards to consumers. Check out the range of ATB Mastercard options.
• BMO Bank of Montreal. Count on BMO for a string of great Mastercard options, including a BMO Cashback Mastercard with up to 5% cashback, a BMO Preferred Rate Mastercard with a 3.99% rate on balance transfers for 9 months, a BMO Rewards Mastercard, which collects up to 2 rewards points per $1 spent. If you prefer collecting Air Miles, you can also opt into the BMO Air Miles Mastercard or the BMO Air Miles World Elite Mastercard. Scroll through the full BMO Mastercard product range and each card’s key features.
• Brim Financial. Headquartered in Toronto, Ont., Brim has a state-of-the-art credit card infrastructure and digital platform, with consumer and business credit card options. Consider a Brim Mastercard or Brim World Mastercard, both with great rewards points programs. Read more on the full list of perks available with Brim Financial Mastercards, including 0% foreign transaction fees whether you’re shopping online or travelling abroad, and flexible redemption options when you use your rewards points.
• Canadian Tire Bank. If you’re a regular shopper at Canadian Tire, the store has 3 solid Mastercard options worth your consideration. They include Mastercards that allow you to collect Canadian Tire Money with each transaction, savings at the gas station, and cashback. Check out the trio of Canadian Tire Mastercards.
• Capital One. With 6 Capital One Mastercard options, you’re sure to find one to suit your needs to a tee. Capital One’s range of Mastercards includes features such as a guaranteed low interest rate and a $0 annual fee Aspire Cash Platinum Mastercard.
• Desjardins. If you’re looking for Mastercard options with a slate of useful perks, Desjardins’ roster includes the Odyssey World Elite Mastercard with up to 60 days of comprehensive travel insurance, and the Cashback World Elite Mastercard with up to 4% cashback on purchases. Read more on the Desjardins website.
• HSBC Bank Canada. With half a dozen HSBC Mastercard options, consumers have their pick of the litter depending on their needs. The HSBC +Rewards Mastercard has an annual fee of just $25, but comes with perks, such as 20,000 points for opening an account and an interest rate of just 11.9%.
• MBNA. Whether you’re looking for an MBNA Mastercard with a low interest rate, cashback on gas or groceries, or rewards points for hotel stays, MBNA has over a dozen Mastercard options to choose from.
• National Bank of Canada. Get up to 1% cashback when you shop for most purchases on your card with the National Bank ECHO Cashback Mastercard, or contribute to a great cause with the National Bank Allure Mastercard that supports the Quebec Breast Cancer Foundation. For more options, there are 9 National Bank Mastercards for consumers.
• President’s Choice Financial. If you’re a regular at Shoppers Drug Mart, Loblaws, No Frills and the Real Canadian Superstore, a PC Financial Mastercard may be a great addition to your wallet. The trio of PC Financial Mastercard options on offer all come with no annual fee, and could earn you up to 30 PC Optimum points per $1 of spend. That will add up quickly, helping you to score enough points to redeem on your next big purchase.
• RBC Royal Bank. If you’re a fan of travelling via WestJet, RBC has partnered with the Canadian airline with the WestJet RBC World Elite Mastercard, which is a great way to collect WestJet dollars to redeem on flights and vacation packages. RBC also has a RBC Cashback Preferred World Elite Mastercard, rewarding cardholders with cashback on all of their purchases.
• Scotiabank. If you’re banking with Scotiabank already, you may want to look into the Scotia Momentum Mastercard, with no annual fee and 1% cashback on all eligible purchases at the gas station, grocery store or with recurring payments.
• Tangerine. There are two Tangerine Mastercard options, including the Tangerine Money-Back Mastercard and the Tangerine World Mastercard. Both come with a $0 annual fee and rewards of up to 2% cashback.
• Walmart Canada Bank. Families who make regular trips to Walmart should check out Walmart’s 2 Mastercard options. The Walmart Rewards Mastercard comes with 1.25% earnings in rewards dollars on any Walmart purchases online and in-store, while the Walmart Rewards World Mastercard scores you up to 3% in rewards points on purchases. An introductory offer sweetens the deal: New cardholders will receive up to $25 in bonus Walmart Reward dollars.

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Name	Product	Welcome Offer	Rewards	Purchase Interest Rate	Annual Fee		Min. Credit Score	Description
RBC Cash Back Mastercard RBC Cash Back Mastercard		N/A	Up to 2% cash back	20.99%	$0	Apply now More Info	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.	Compare	loading Fetching your data...
BMO CashBack Mastercard BMO CashBack Mastercard		5% cash back	Up to 3% cash back	20.99%	$0	Apply now More Info	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 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Compare	loading Fetching your data...
OFFER Tangerine World Mastercard Tangerine World Mastercard	OFFER	10% cash back	Up to 2% cash back	19.95%	$0	Apply now More Info	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
OFFER Tangerine Money-Back Credit Card Tangerine Money-Back Credit Card	OFFER	10% cash back	Up to 2% cash back	19.95%	$0	Apply now More Info	Min. recommended credit score: 600	Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until July 5, 2023. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.	Compare	loading Fetching your data...
Neo Financial Mastercard Neo Financial Mastercard		Get $25.00 + up to 15% cash back	Average 5% cash back	19.99% - 26.99%	$0	Apply now More Info	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 0.5% cashback guaranteed.	Compare	loading Fetching your data...
BMO Preferred Rate Mastercard BMO Preferred Rate Mastercard		0.99% rate on balance transfers for 9 months	N/A	13.99%	$0 annual fee for the first year ($29 thereafter)	Apply now More Info	Min. recommended credit score: 660	Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year.	Compare	loading Fetching your data...
Neo Secured Card Neo Secured Card		15% cash back	5% cash back	19.99% - 26.99%	$0	More Info	Min. recommended credit score: 600	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 0.5% cashback guaranteed.	Compare	loading Fetching your data...
BMO Ascend World Elite Mastercard BMO Ascend World Elite Mastercard		60,000 points	Up to 5x points per $1 spent	20.99%	$0 annual fee for the first year ($150 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 60,000 points and get the $150 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO Rewards Mastercard BMO Rewards Mastercard		10,000 points	Up to 1 points per $1 spent	20.99%	$0	Apply now	Min. recommended credit score: 725	Get a bonus of 10,000 BMO Rewards points when you spend $1,000 in the first 3 months. Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Compare	loading Fetching your data...
BMO Cashback Business Mastercard BMO Cashback Business Mastercard		10% cash back	Up to 1.75% cash back	19.99%	$0	Apply now More Info	Min. recommended credit score: 650	Get 10% cash back on gas, office supplies, cell phone bills and internet bills for 3 months. Plus, get a 0.00% introductory interest rate on balance transfers for 9 months with a 3% transfer fee. Valid until November 30, 2023.	Compare	loading Fetching your data...
BMO CashBack World Elite Mastercard BMO CashBack World Elite Mastercard		Up to 10% cash back	1% cash back	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.	Compare	loading Fetching your data...
BMO U.S. Dollar Mastercard BMO U.S. Dollar Mastercard		N/A	N/A	20.99%	$35 USD	Apply now More Info	Min. recommended credit score: 725	When your purchases total US$1,000 or more in a year, the next year's annual fee (US$35) is rebated to your card.	Compare	loading Fetching your data...
BMO AIR MILES World Elite Mastercard BMO AIR MILES World Elite Mastercard		2,000 Miles	Up to 3 Miles for every $12 spent	20.99%	$0 annual fee for the first year ($120 thereafter)	Apply now More Info	Min. recommended credit score: 760	Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.	Compare	loading Fetching your data...
BMO AIR MILES Mastercard BMO AIR MILES Mastercard		800 Miles	Up to 3x Air Miles for every $25 spent	20.99%	$0	Apply now More Info	Min. recommended credit score: 660	Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash). Get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.	Compare	loading Fetching your data...
BMO AIR MILES Mastercard For Students BMO AIR MILES Mastercard For Students		800 Miles	Up to 3x Air Miles for every $25 spent	20.99%	$0	Apply now More Info	Min. recommended credit score: 660	Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash).	Compare	loading Fetching your data...
BMO CashBack Mastercard For Students BMO CashBack Mastercard For Students		5% cash back	Up to 3% cash back	20.99%	$0	Apply now More Info	Min. recommended credit score: 660	Get up to 5% cash back in the first three months (up to max. spend of $2,500).	Compare	loading Fetching your data...
RBC Cash Back Preferred World Elite Mastercard RBC Cash Back Preferred World Elite Mastercard		N/A	Up to 1.5% cash back	20.99%	$99	Apply now More Info	Min. recommended credit score: 650	Earn unlimited 1.5% cash back on all eligible purchases.	Compare	loading Fetching your data...
BMO World Elite Business Mastercard BMO World Elite Business Mastercard		70,000 points	Up to 4 points per $1 spent	17.99%	$0 annual fee for the first year ($149 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get up to 70,000 BMO reward points. Get 50,000 points when you spend $5,000 in the first three months and an additional 20,000 points when you spend $35,000 in the first twelve months. Plus, get the $149 fee waived for the first year. Valid until December 31, 2023. In addition, get a 0.00% introductory interest rate on balance transfers for 9 months with a 3% transfer fee. Valid until November 30, 2023.	Compare	loading Fetching your data...
BMO AIR MILES World Elite Business Mastercard BMO AIR MILES World Elite Business Mastercard		3,000 Miles	1 Mile for every $12 spent	19.99%	$0 annual fee for the first year ($149 thereafter)	Apply now More Info	Min. recommended credit score: 760	Get 3,000 AIR MILES Bonus Miles when you spend a minimun of $5,000 in the first three months. Plus, get the $149 annual fee waived for the first year.	Compare	loading Fetching your data...
BMO Air Miles No-Fee Business Mastercard BMO Air Miles No-Fee Business Mastercard		1,000 Miles	1 Mile per $20 spent	19.99%	$0	Apply now More Info	Min. recommended credit score: 650	Get 1,000 AIR MILES Bonus Miles (over $100 towards your purchases with AIR MILES Cash). Valid until December 31, 2023	Compare	loading Fetching your data...

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Mastercard FAQs

• How can I apply for a Mastercard credit card?

  You can apply either online or in person at a branch with a bank or financial institution that offers Mastercard credit cards. Before applying, make sure you've compared your credit card options and confirmed that you meet the eligibility requirements.

• How long does it take to apply for a Mastercard and how soon will I receive my card?

  If you begin the application process with all the required information handy, the application should take no more than 10 to 15 minutes to complete. After the card provider approves your application, it can take between 5 to 10 business days for you to receive your card in the mail. Once you receive it, you can immediately activate it and begin using it.

• What eligibility criteria do I have to meet to apply for a Mastercard?

  While it varies between providers, you will usually need to meet the following requirements:

  • Be at least 18 years of age, or the age of majority in your province or territory.
  • Be a Canadian citizen or a permanent resident with a valid Canadian address.
  • Be employed and have a steady source of income.
  • Meet any minimum credit score requirements.
  • Meet any minimum income requirements.

• How can I make repayments on my Mastercard?

  This depends on the credit card provider. Your payment options may include online, cash or cheques.

• How long does it take to activate Mastercard credit cards?

  It should take a few minutes for you to activate Mastercard credit cards. If you're in a hurry, go for online activation or use the mobile app to avoid long wait times on the phone.

• How do I know if my Mastercard credit card is activated?

  Check the status of your credit cards in your online account or your mobile app. Learn how to activate Mastercards here.

• When can I use my Mastercard credit card after activation?

  You can use your new Mastercard as soon as it's activated. Learn how to activate a Mastercard here.