Best Canadian Credit Cards

In this article, I am going to list a bunch of different travel-related credit cards in Canada. Please note: My opinions on credit cards is biased towards travel. Some credit cards offer lower interest rates, insurance benefits, and a host of other features. The only thing I have ever used credit cards for (since receiving my first one at age 18) is for rental cars (because they usually include full insurance) and for earning travel points by purchasing everything I can using the card. I always pay them off in full so the interest rate doesn’t matter to me. I don’t use them for cash advances or anything like that.

So all my opinions below are related simply to getting maximum value out of travel. If you have other features you love or need, please decide on the card accordingly.

I have split the cards up into a number of categories including Travel Points Credit Cards with and without annual fee, Hotel Credit Cards, Airline Credit Cards, and more.

Feel free to jump right to the bottom for my #1 Pick!

Enjoy!

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Top Travel Points Credit Card (with annual fee)

Capital One® Aspire Travel™ World MasterCard®

This is a great travel card if you can get it. The main benefit is the big bonus for your first purchase and the bonus points each year you keep the card. The downside is the annual fee and the fact that the points can’t be transferred to a program like Aeroplan. Instead, you need to book your travel using the credit card and then pay for it using the points. This means that the fixed value of the points you earn is 1 cent for each point or less. For example, if you have 15,000 points, you can use it to pay for $150 worth of travel. However, you will need 35,000 points to pay for any value of travel above $150 and up to $350. So if your flight is only $200, you would still need to use 35,000 points rather than 20,000 which deflates the value even further.

So in my own opinion, this is an okay card for big spenders who want the simplicity of booking travel using the credit card. The annual fee is $120.

Benefits include:

• Earn more reward miles on everything you buy!
• Earn 2 reward miles for every $1 – on all purchases
• Get 35,000 bonus reward miles with your first purchase (worth max of $350 travel or less)
• Get 10,000 anniversary bonus reward miles every year (worth $100 of travel)

Please Note: A requirement of this card is a minimum personal income of $60,000 or household income of $100,000.

TD First Class Infinite Visa

This card is similar to the Capital One® Aspire Travel™ World MasterCard® in that you use the points by booking travel on your credit card and then redeeming the points to pay for it. Although TD points are earned faster (such as 3 points for every dollar), their value is less than half a cent per point. This card has an annual fee of $120 and points cannot be transferred to other airlines programs.

Benefits include:

• 1.5% return on all purchases plus a 4.5% return on travel booked via TD Rewards that can be used towards any travel via any booking method
• Start redeeming at 10,000 points or as a little as $3,333.34 in spending
• An excellent suite of insurance and benefits including out of province medical coverage

BMO World Elite MasterCard

This card also works by letting you book the travel you want and then pay the bill using your points. The value of the points are close to 2 cents each which is better than most similar programs. You cannot transfer to other airline programs. The card allows you and a guest to use special airline lounges at airports which is cool but it also costs a hefty $150 fee each year. This is also a good travel card but since I rather focus on no-annual fee cards with large bonus promotions, it’s not one I will be getting. You also need to make $70K per year.

Benefits include:

• Earn 1 BMO Rewards point for every $1 you spend on the card²
• Complimentary airport lounge access for two (over US$200/year value)⁶
• No blackout periods and you can book on any airline.
• Points cover all costs including taxes.

BMO Air Miles Gold MasterCard

This card allows you to earn Air Miles. You earn 1 Air Mile for every $15 spent which is better than the usual 1 point for every $20 spent. You also get to book an Air Miles flight using 25% less miles which is a very nice bonus. The negative is that the flight needs to be booked with Air Miles and has an annual fee of $99.

Benefits include:

• 1 reward mile for every $15 in card purchases
• 25% discount on redeeming Air Miles
• Earn double the Air Miles by using this card paired with your Air Miles card

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Top Travel Points Credit Card (with no annual fee)

American Express Blue Sky Credit Card

The Blue Sky Credit card isn’t a bad one for having no annual fee. The points are worth 1 cent each and are used to pay for the AMEX bill after you book your flight anyway you choose. Personally, I prefer cards that transfer to Aeroplan as you get much better value that way. But if your looking for a card to keep long term and want no annual fees, then this isn’t a bad one to start with.

Benefits include:

• Points can be redeemed against booked travel up to 12 months after the charge is posted (book first then spend spend spend to pay it off!)
• 1.25 points per $1 spent
• 10,000 point bonus
• Can redeem as little as 10,000 points, which means you have to spend $8,000 if you don’t include the sign up bonus

Capital One® Aspire Travel™ Platinum MasterCard®

As with most Capital One cards, the points you earn are used to pay for travel booked with the card. Points are worth exactly 1 cent each. So 15,000 points is good for $150 worth of travel. However, you can use 16,000 points for $160 in travel. You would need to go to the next level which is 35,000 points and good for $150.01-$350 of travel. It’s a little tricky so I don’t like it.

Benefits include:

• Earn reward miles – with no annual fee!
• Earn 1 reward mile for every $1 spent – on all purchases
• Get 5,000 bonus reward miles with your first purchase
• Get 25% extra reward miles every year

BMO Air Miles MasterCard

This card is used exclusively for earning Air Miles. This card is very basic but if your interested in having a long-term card for credit-building purposes and are already comfortable with BMO, it might be a good option. From a travel hacking perspective, it’s not a card I would get since it has no bonus points.

Benefits include:

• Earn 1 Air Mile for every $20 spent
• Double the rewards by using the card and your Air Mile card at the same time
• No annual fee

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Top Hybrid Travel Credit Card (with annual fee)

American Express Gold Rewards Card

Overall, this is one of the best cards in Canada for travel hacking and one of the top cards I recommend the most. Due to the first year fee being waived and the huge amount of bonus points offered after spending just $500, this card will have you making your first trip quicker than any other. The current bonus point allotment is 15,000 (easily transferred to Aeroplan) but if you want 25,000 points, simply use this link to apply.

• 2 Points per dollar for Gas, Grocery, Drug Store and Travel purchases. 1 Point per dollar on all other spending
• Book travel how you want and when you want then redeem Membership Rewards points against that charge on your monthly statement.
• Option to transfer Membership Rewards Points to Aeroplan and British Airways Avios (on a 1:1 basis) + 8 other frequent flyer/guest programs with occasional transfer bonuses.
• First year fee of $150 waived!
• 5000 bonus point if referred by a friend
• 15,000 bonus points (or 25,000 if referred) after spending only $500 in first 3 months of membership.

RBC Visa Infinite Avion

One of the most popular cards in Canada continues to be a great pick. Although it has a yearly fee, this card can be useful if one spends enough. You need a high-income to apply. Again, with yearly fees, you need to spend a lot or be very wise with your points to make it worthwhile.

Benefits include:

• Ability to book flights with any airline with no blackout periods, extremely useful when there are no seat sales
• 15,000 welcome points!
• Option to transfer RBC Rewards Points to British Airways Executive Club, American AAdvantage or Cathay Pacific Asia Miles. Look for the twice yearly 50% BA bonus!
• A complete suite of insurance coverage and benefits

CIBC Aventura World MasterCard 

This card earns Aventura points. These points are then redeemed when booking travel through Aventura travel OR transfer 1:1 with Aeroplan (the better option in my opinion). It is however, $120 per year, and you need an income of $70,000!

Benefits include:

• Earn 1 point for every dollar spent.
• Welcome bonus of 15,000 points!
• Redeem as low as 10,000 points.
• Earn 50% more points at gas, grocery, and drug stores.

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Top Airline Credit Cards

CIBC Aerogold Visa Infinite

This is a very good card that is directly associated with Aeroplan. The CIBC Aerogold Visa Infinite continues to be one of Canada’s most popular travel cards and a welcome bonus of 15,000 points is pretty darn good. Only problem is the $120 fee. If your simply trying to rack up bonus points, these fees hurt. Occasionally, CIBC released a quiet promotion where they waive the fee. They don’t promote it though so you would just have to call every month and see if it’s happening.

Benefits include:

• Ability to earn 1.5 Aeroplan miles on Grocery, Drug Store and Gas Station purchases
• Welcome bonus of 15,000 points!
• Decent redemption rates, particularly on Business Class tickets (which afford the greatest rate of return on any credit card spending)
• Air Canada still provides the most flight coverage domestically and internationally out of Canada, which allows Aerogold holders many redemption options

Capital One® Delta SkyMiles® World MasterCard®

If your someone who typically used Delta Airlines or it’s partners via SKYTEAM, then this card may be for you. It’s a great overall airline card with an annual fee of $120. You can easily score 25,000 bonus points which is already enough for flight within the continental USA!

Benefits include:

• Earn Delta miles on everything you buy
• Get a welcome bonus of up to 25,000 Delta miles
• Earn 3 Delta miles for every $1 you spend on Delta purchases
• Earn 2 Delta miles per $1 on all other net purchases
• Get 10,000 annual bonus Delta miles when you spend at least $25,000 each year

Please Note: A requirement of this card is a minimum personal income of $60,000 or household income of $100,000.

WestJet RBC World MasterCard

WestJet is a popular airline in Canada and for good reason; it’s an enjoyable ride. The only problem is that WestJet doesn’t belong to any alliances like Air Canada does, so flight options and ways to earn “points” are limited. This card is a great way to do so though, and the $99 first year fee isn’t so bad since you get $250 in WestJet dollars right away.

Benefits include:

• $250 WestJet dollars with first purchase!
• Receive an annual round-trip companion flight for $99 (some restrictions apply).
• 1.5% WestJet dollars credited on all purchases.
• Purchase of WestJet flights gets 2% WestJet dollars credited.

RBC British Airways Visa Infinite Card

This can be good for those interested British Airways Miles. British Airways is high quality but this card is a hefty $165 each year. So again, you need to spend lots to reap the rewards of a card like this. I’ll keep an eye on this one and see where it goes.

Benefits include:

• Welcome bonus of 15,000 points
• Earn 1 point for every dollar
• Receive complimentary companion ticket when you spend $30,000+ per year

Please Note: A requirement of this card is a minimum personal income of $60,000 or household income of $100,000.

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Top Hotel Credit Cards

American Express Starwood Preferred

This credit card is the top of the Hotel Credit Card category because of the famous SPG program coupled with some great features. This card has always been popular among travel hackers, especially in the U.S. where they typically waive first year’s fee. This isn’t a bad card overall but it does have a hefty fee of $120 yearly.

Benefits include:

• Redeem Starpoints for hotel stays around the world with a potential rate of return of over 5% depending on the hotel and season
• 10,000 welcome points!
• Ability to transfer to 30+ airlines including a 5,000 mile bonus when you transfer 20,000 Starpoints at a time.
• Receive SPG Gold Status after $30,000 in spending within a year (plus the new SPG benefit of lifetime SPG Gold Elite Status if you reach this mark 5 years in a row) and a free weekend night after $40,000.

Priority Club® World MasterCard® from Capital One®

Priority club can be a great way to earn points for a huge selection of hotels. This card is not designed for flying, it’s designed for hotel stays. I wouldn’t rank it as high as Starwood above but it’s still worth looking at. Yearly fee is $120.

Benefits include:

• Get 30,000 bonus Priority Club points with your first purchase
• Earn 5 points for every $1 spent at any hotel within the Priority Club Rewards Family of Brands
• Earn 2 points for every $1 on all other net purchases
• Plus, get 5,000 bonus points for every $10,000 you spend – there’s no limit to the amount of points you can earn

Please Note: A requirement of this card is a minimum personal income of $60,000 or household income of $100,000.

MBNA Best Western Rewards Platinum Plus MasterCard

As far as hotel chain goes, I can really say that Best Western seems to have the most options all over the world. I have seen Best Westerns all over the world and even in strange cities in Asia. They really are everywhere! Right now my concentration is on credit cards with travel points but this card is actually decent value. You get 20,000 points after your first qualifying purchase, which is enough for 2 nights in a Best Western hotel. Room types differ in value. Apply for any of these credit cards through greatcanadianrebates.com and get $60 back once approved. Sweet!

Benefits include:

• 20,000 bonus points after your first qualifying transaction
• Earn 1.5 Best Western points for every $1 spent
• No annual fee
• Spend $6000+ in one calendar year and get your Best Western tier-status upgraded one level. Cool!

MBNA Choice Privileges MasterCard

This card is currently offering a total of 24,000 points after spending just $300 before February 2013 and has no annual fee. 8000 are earned right away after approval and the rest after spending the allotted amount.This amount of points is good for some all-inclusive hotels in Mexico or a range of hotels across North America. Apply for any of these credit cards through greatcanadianrebates.com and get $60 back once approved. Sweet!

Benefits include:

• No annual fee
• Earn 1 free stay right away
• Automatic upgrade to elite gold status

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In conclusion, there are many credit card choices for you to ponder. Don’t get too crazy at first and make yourself stressed. This will make you give up. Try to keep it simple at the beginning. A lot of these cards are great. Some require a high yearly income and some don’t. American Express is great because most cards only require a yearly income of $15K so almost anyone can apply for these.

Personally , the best card on the market right now is the American Express Personal Gold. They waive the first year fee and give you 25,000 bonus points after spending just $500 in three months. Click here to apply!

If you’re not looking into getting a house soon, I don’t think you have much to worry about with the whole credit score thing. I just applied for a free credit report plus I paid for the credit score as well. After two years of multiple credit card activation’s and cancellations, my score went up 50 points and reached A+ status.

What’s your favourite card?