The best credit cards in Canada differ by category: cashback, travel, low interest, student and newcomer cards each have a different leader. This guide lists ten picks with the fees and rates published on each issuer’s own page. YieldMaple last checked those pages on October 7, 2026. It is general education, not financial advice.
The 2026 picks at a glance
| Need | Card | Annual fee | Why |
|---|---|---|---|
| No-fee cashback | Tangerine Money-Back Credit Card | $0 | 2% in 2 chosen categories |
| No-fee groceries | CIBC Dividend Visa | $0 | 2% on groceries |
| Premium cashback | CIBC Dividend Visa Infinite | $120 | 4% on groceries, gas and EV charging |
| Dining / Groceries (points) | American Express Cobalt | $191.88 a year | 5 points per dollar on eats and drinks |
| Travel (points) | American Express Aeroplan Reserve | $599 | Aeroplan points and Air Canada perks |
| Travel (no FX fees) | Scotiabank Passport Visa Infinite+ | $150 | No foreign transaction fee, lounge visits |
| USD purchases | Rogers Red Mastercard | No annual fee | 2% on U.S.-dollar spending |
| Low interest | MBNA True Line Mastercard | $0 | 12.99% on purchases |
| Student | CIBC Dividend Visa for Students | $0 | 2% on groceries |
| Newcomer | Scotiabank StartRight cards | Varies by card | No Canadian credit history needed |
How do you choose a primary credit card in Canada?
Choose a primary card by matching its bonus categories to your largest spending categories, then checking that the rewards exceed any annual fee.
- Groceries and gas: CIBC Dividend Visa Infinite (4%), or the PC Financial World Elite Mastercard for Loblaw-banner shoppers (no annual fee and 30 PC Optimum points per $1 on groceries at participating stores (45 points per $1 at Shoppers Drug Mart))
- Dining: American Express Cobalt (5 points per $1 at eligible restaurants, coffee shops, bars, stand-alone grocery stores and food delivery in Canada)
- Travel and foreign-currency spending: Scotiabank Passport Visa Infinite+ or the American Express Aeroplan Reserve
- U.S.-dollar spending: Rogers Red Mastercard
- Mixed everyday spending: Tangerine Money-Back Credit Card
When no category dominates, a no-fee card such as the Tangerine Money-Back carries no cost to hold.
What are the best cashback credit cards in Canada?
The Tangerine Money-Back Credit Card leads the no-fee cashback cards, and the CIBC Dividend Visa Infinite pays the highest rate on groceries and gas among the cards compared here. The guide to credit cards for gas purchases looks at fuel spending on its own.
Tangerine Money-Back Credit Card — best no-fee
- Earn: 2% in two categories you choose (three if rewards go to a Tangerine Savings Account) and 0.5% on everything else
- Fee: $0
- Cap: no cap — Tangerine calls the 2% cash back unlimited
- Why: you pick the categories, there is no annual fee, and Tangerine asks for $12,000 or more in gross annual income
CIBC Dividend Visa Infinite — best premium
- Earn: 4% cash back on eligible gas, EV charging and groceries; 2% on eligible transportation, dining, recurring payments and CIBC by Expedia travel; 1% on everything else
- Fee: $120 (first year rebated under the current offer); $50 for each of up to 3 additional cards
- Cap: the 4% and 2% rates apply to the first $20,000 a year of combined spending in the bonus categories, or the first $50,000 of total card spending if that comes first; after that everything earns 1% until the limits reset after the December statement
- Why: against a no-fee 2% card, the fee is covered once grocery and gas spending passes $6,000 a year
For the full cashback comparison: Best Cashback Credit Cards in Canada.
What are the best travel credit cards in Canada?
The Scotiabank Passport Visa Infinite+ charges no foreign transaction fee, the American Express Cobalt earns the most points on food, and the Aeroplan Reserve carries the most Air Canada perks.
Scotiabank Passport Visa Infinite+ — best for FX-conscious travellers
- Earn: 3 Scene+ points per $1 at Sobeys, Safeway, IGA, FreshCo and other Sobeys-family stores; 2 Scene+ points per $1 on other grocery, dining, entertainment and daily transit purchases; 1 Scene+ point per $1 on all other purchases
- Foreign transaction fee: none — only the exchange rate applies (Scotiabank calls 2.5% the typical fee it replaces)
- Insurance: travel emergency medical coverage of up to $2 million, plus trip cancellation, flight delay and rental car coverage
- Lounges: a Visa Airport Companion Program membership with six complimentary lounge visits a year
- Annual fee: $150 a year for the primary card ($0 for the first additional card, $50 for each one after that)
- Why: on a hypothetical $10,000 of foreign-currency purchases a year, skipping a 2.5% fee saves $250
The Scotia Passport Visa Infinite review covers the card in full.
American Express Cobalt — best points earn rate
- Earn: 5 points per $1 at eligible restaurants, coffee shops, bars, stand-alone grocery stores and food delivery in Canada, up to $2,500 in combined net purchases a month, then 1 point per $1; 3 points per $1 on eligible streaming subscriptions in Canada; 2 points per $1 on eligible gas, transit and ride share in Canada; 1 point per $1 on everything else
- Annual fee: $15.99 a month ($191.88 a year) outside Quebec; Quebec residents pay $191.88 once a year
- Why: Membership Rewards points move to Aeroplan at 1,000 Membership Rewards points = 1,000 Aeroplan points, or pay for purchases at 1,000 points = $10 toward eligible purchases
The American Express Cobalt review has the full fee and points breakdown.
American Express Aeroplan Reserve — best Aeroplan card
- Earn: 3 Aeroplan points per $1 on eligible Air Canada and Air Canada Vacations purchases; 2 Aeroplan points per $1 on eligible dining and food delivery in Canada; 1.25 Aeroplan points per $1 on everything else
- Annual fee: $599, rising to $799 on annual fees charged on or after January 12, 2027
- Perks: complimentary access to Maple Leaf Lounges and Air Canada Cafés in Canada and the United States; one Companion Pass a year after $25,000 in net purchases before your card anniversary; the companion's Air Canada economy base fare is fixed at $99 to $599, plus taxes and fees
- Why: built for frequent Air Canada flyers; the fee is hard to recover for occasional travellers
Which credit card has the lowest interest rate in Canada?
The MBNA True Line Mastercard charges 12.99% on purchases with a $0 annual fee, the lowest standard rate among the cards checked for this guide.
- MBNA True Line Mastercard: 12.99% on purchases; welcome offer of 0% for 12 months on balance transfers completed within 90 days of account opening
- Scotiabank Value Visa: 13.99% on purchases; annual fee of $29 a year (waived in the first year under the current offer); 0% on balance transfers for the first 9 months, with a 1% balance transfer fee
Neither card earns rewards. Rewards cards charge more: the Tangerine Money-Back charges 20.95% on purchases and the American Express Cobalt charges 21.99% on purchases and 21.99% on funds advances.
Worked example with a hypothetical balance: $5,000 carried for a full year costs about $1,048 at the Tangerine rate and about $650 at the MBNA True Line rate. A balance paid in full each month costs nothing in interest on either card.
Which credit cards can newcomers and students get in Canada?
Newcomers can get a card through bank newcomer programs that need no Canadian credit history, and students can get no-fee student cards.
Newcomers (no Canadian credit history)
- Scotiabank StartRight Program: for permanent residents in their first 5 years in Canada, international students and foreign workers; Canadian credit history is not required; limit of up to $15,000 on an unsecured card
- RBC newcomer cards: credit limit of up to $15,000, no credit history required
- TD: credit limit of up to $15,000 for Canadian permanent residents, even with no credit history
- BMO: no credit history required for a first Canadian credit card
- Tangerine Money-Back Credit Card: asks for $12,000 or more in gross annual income
The guide to credit cards with no credit history compares these programs.
Students
- CIBC Dividend Visa for Students: $0 annual fee; 2% cash back on eligible groceries; 1% on eligible gas, EV charging, transportation, recurring payments and CIBC by Expedia travel
- RBC cards for international students: credit limit of up to $2,000, no credit history required
- PC Financial Mastercard: no annual fee, 10 PC Optimum points per $1 and 25 points per $1 at Shoppers Drug Mart
The student credit card guide covers more options.
Which cards cost more than they return
- High-fee cards whose perks go unused. Lounge access, companion passes and hotel credits only offset a fee when they are used.
- Cards with a large welcome offer and a low ongoing earn rate. First-year value does not repeat.
- Store-branded cards used outside the store. They earn the most at the retailer that issues them.
- Any rewards card that carries a balance. Interest at rates such as 20.95% outweighs a 2% to 4% reward.
The 2-card stack
Three common two-card combinations:
Stack A — Cashback (no annual fee):
- Tangerine Money-Back Credit Card (two chosen categories at 2%)
- Rogers Red Mastercard (2% on U.S.-dollar purchases; 1% on other purchases without a qualifying Rogers service)
Stack B — Mixed (one annual fee):
- CIBC Dividend Visa Infinite ($120; groceries, gas and EV charging at 4%)
- Tangerine Money-Back Credit Card ($0; two other categories at 2%)
Stack C — Travel-focused:
- Scotiabank Passport Visa Infinite+ ($150; no foreign transaction fee)
- Tangerine Money-Back Credit Card ($0; fills the categories the first card pays less on)
Stack A has no annual fees, so it costs nothing to hold whatever the household spends.
More credit card guides
- Best Cashback Credit Cards in Canada — the cashback breakdown
- Best High-Interest Savings Account in Canada — where to park rewards
- Switching from Big 5 banks — moving to no-fee banking
- How to invest in Canada — putting cashback to work