The best Canadian credit card for you.

In May 2026, the largest welcome bonus is the American Express Aeroplan Reserve at up to 95,000 Aeroplan points (~$1,800 in flights) on $6,000 spend in 6 months. It has a $599 annual fee. The Amex Platinum is close behind at 100,000 MR points but with a $799 fee. For lower fees, the Cobalt offers 60K MR (~$600) at $156/year.

Yes — most Canadian welcome bonuses can be stacked. A common strategy: open Cobalt + Scotia Passport in year 1 ($306 combined fees, ~$1,000 combined Year 1 value), then add Aeroplan Reserve or Platinum in year 2. Space card applications 60-90 days apart to avoid too many hard credit inquiries at once.

Each application creates a hard inquiry that drops your score 5-10 points temporarily. Recovery is typically within 6 months as long as you keep payments on time. Opening multiple cards in a short period adds inquiries — most Canadians space card applications 3 months apart to minimize impact.

The Tangerine Money-Back Mastercard is the strongest no-fee Canadian cashback card. 2% cashback on 3 chosen categories (or 2 if you don't direct cashback to a Tangerine Savings Account), 0.5% on everything else. The Capital One Costco Mastercard is a required pair for Costco shoppers (it's the only card Costco Canada accepts).