How we rate Canadian credit cards.

Most Canadian credit-card comparison sites show a star rating without explaining what it means. That's why we publish this page. Every YieldMaple rating between 1 and 5 stars comes from a weighted scoring formula across five categories. The formula is public, the inputs are documented, and the rating moves automatically when fees or features change.

The 5 categories we score

Every credit card gets scored 1-5 in each of these categories. The category score is multiplied by its weight, then averaged into a single final star rating.

1. Rewards value (30%)

The dollar value a typical Canadian gets back from using the card. We calculate this assuming average annual spending of $36,000/year ($3,000/month) split across realistic categories: 30% groceries & dining, 15% gas, 10% travel, 45% everything else. For each card, we compute total annual rewards earned at that spending profile, deduct the annual fee, and compare to a baseline 1% no-fee cashback card.

• 5/5: Net rewards 2x+ the baseline ($720+/year on $36K spend after fees)
• 4/5: 1.5–2x baseline ($540-$720)
• 3/5: 1–1.5x baseline ($360-$540)
• 2/5: 0.5–1x baseline ($180-$360)
• 1/5: Below baseline (negative or under $180)

2. Fees & cost transparency (20%)

How fair the fee structure is, and how clearly the issuer discloses it. Includes annual fee, supplementary card fees, foreign transaction fee, NSF fees, cash advance fees, and balance transfer fees.

• 5/5: No annual fee, 0% FX, fully disclosed all fees
• 4/5: Low annual fee ($0-$120) with strong value justification, or 0% FX
• 3/5: Standard fee structure for the card class
• 2/5: Higher-than-average fees with limited justification
• 1/5: Aggressive fee structure or hidden fees

3. Welcome bonus & first-year value (15%)

First-year value combines the welcome bonus, any first-year fee waiver, and the rewards earned during typical first-year spending. We measure first-year net value as a percentage of the card's ongoing annual fee.

• 5/5: First-year net value 5x+ the ongoing annual fee
• 4/5: 3-5x ongoing fee
• 3/5: 2-3x ongoing fee
• 2/5: 1-2x ongoing fee
• 1/5: Below 1x ongoing fee, or no welcome bonus

4. Perks & insurance (20%)

Non-rewards benefits that make the card more valuable: travel insurance, lounge access, rental car insurance, purchase protection, extended warranty, mobile device insurance, retail discounts, and concierge.

• 5/5: Comprehensive travel + medical + lounge package (Aeroplan Reserve, Platinum tier)
• 4/5: Strong travel medical + rental car + purchase protection package
• 3/5: Standard insurance package for the card class
• 2/5: Limited insurance (purchase protection only)
• 1/5: Minimal or no included insurance

5. Approval ease & access (15%)

How accessible the card is to typical Canadians. Lower income requirements, lower credit-score thresholds, and being available without a banking relationship score higher.

• 5/5: No income minimum, accessible to fair credit (600+)
• 4/5: Standard cards ($35K personal income, 660+ credit)
• 3/5: Visa Platinum / Mastercard Gold tier ($50K, 660+)
• 2/5: Visa Infinite / World Elite ($60K personal / $100K household, 700+)
• 1/5: Premium / Reserve tier ($80K-$200K, 760+, banking relationship required)

The formula

The final star rating is computed as:

Final rating = (
  Rewards value     × 0.30
+ Fees & cost       × 0.20
+ Welcome bonus     × 0.15
+ Perks & insurance × 0.20
+ Approval ease     × 0.15
)

Result is rounded to the nearest 0.5 star. Example: the American Express Cobalt scores Rewards 5, Fees 3, Welcome 5, Perks 4, Approval 4 → final rating (5 × 0.30) + (3 × 0.20) + (5 × 0.15) + (4 × 0.20) + (4 × 0.15) = 4.25 → rounded to 4.5.

What we never factor in

• Commission rate. Higher-paying affiliate deals do not get higher star ratings. We will publish a 5/5 rating on a card that doesn't pay us a referral commission, and a 2/5 on a card that pays us $300.
• Issuer relationship. Whether an issuer is a YieldMaple affiliate partner has zero effect on the rating.
• Editorial preference. The formula is mechanical. Editorial commentary about whether a card "feels" premium does not move the numerical score.
• Reader feedback. User reviews are valuable as separate context, but our star rating is not an averaged user score — it is our methodology score.

When we update ratings

Ratings are re-calculated whenever any input changes:

• Issuer adjusts the welcome bonus (we re-check weekly)
• Annual fee, FX fee, or other fee changes
• Insurance coverage changes (e.g., travel medical reduced)
• Earn rates change in core bonus categories
• Income requirements move (mid-tier cards occasionally drop minimums)

Each review carries a Last verified date showing when the inputs were most recently checked. Every Sunday, the editor re-pulls the official cardholder agreement from the issuer's site and re-runs the formula.

How we test before we rate

Before any card is rated, a member of the YieldMaple editorial team applies, is approved, uses the card for at least 30 days of real spending across multiple categories, and documents the experience. We screenshot statements to verify the published earn rates match the actual posted rewards. The scoring inputs above are based on those documented, verified, real-world results — not on the issuer's marketing copy.

The five-question rating cross-check

Every rating we publish has to answer "yes" to all five of these:

1. Has a real YieldMaple editor held this card for 30+ days?
2. Have we verified the current welcome bonus against the issuer's official offer page within the last 7 days?
3. Have we documented all six fee categories (annual, supplementary, FX, NSF, cash advance, balance transfer)?
4. Have we tested at least one customer service touchpoint (phone, chat, or app support ticket)?
5. Are we comfortable recommending this card to a family member in the target demographic?

If any answer is "no," we either delay publication or publish with a clearly labeled "limited review" tag and a lower confidence rating.

How our rating compares to other Canadian sites

Most Canadian credit-card comparison sites publish a star rating without explaining the formula behind it. Ratehub.ca shows "Ratehub rated 4.5" on cards without publishing the methodology. RateHub.com (the .com), Greedy Rates, and Hardbacon all use opaque editorial scores. This is why YieldMaple publishes the formula and the per-category breakdown on every review — so you can see exactly why we scored what we scored, and disagree with the inputs if you want.

Submit a correction

Find an error in our scoring? Email yieldmaple@gmail.com with the card name and the input you think is wrong (with a primary source). Verified corrections update the rating within 1-3 business days, with the change dated on the review.