The best credit cards, similar to many other aspects of personal finance, can be highly subjective to each individual. All Canadians have different needs when it comes to credit card products, and different desires in what their credit cards offer.
That being said, we are lucky to have access to some excellent credit cards in Canada, and some that we would consider universally good, whether they can be classified in this category as a result of a strong welcome bonus or the benefits that they offer cardholders. The cards we have listed in this article are ones we would recommend to all of our readers, as they stand far above many of their competitors.
Let’s take a look at the best credit cards in Canada for October 2024.
Best Credit Cards in Canada by Financial Institution for October 2024
When it comes to the best credit cards in Canada, six main financial institutions offer the majority of available credit cards: American Express, Bank of Montreal, CIBC, Royal Bank of Canada, Scotiabank, and TD.
Best American Express Credit Cards
American Express credit cards have no income requirements and many of them allow cardholders to earn valuable American Express Membership Rewards points which can be transferred to several frequent flyer and hotel loyalty programs.
Frugal Flyer’s favorite American Express credit card is the American Express Cobalt card as it earns 5x Membership Rewards points on all food and drink purchases, including restaurant and grocery store purchases.
The American Express Cobalt card earns Membership Rewards points and gives cardholders the opportunity to earn 5x Membership Rewards on eligible restaurant, food delivery, and grocery store purchases.
In 2024, we selected this card to receive the award Best Credit Card for Grocery Purchases.
Check out our American Express Cobalt card review for more details.
15,000 Membership Rewards
$9,000
$174+
$156
Yes
–
Below are the top five American Express credit cards based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
American Express Business Platinum Card | 120,000 Membership Rewards | $1,841 | Apply |
 |
American Express Platinum Card | 100,000 Membership Rewards | $1,401 | Apply |
 |
American Express Aeroplan Business Reserve Card | 90,000 Aeroplan | $1,291 | Apply |
 |
American Express Aeroplan Reserve Card | 85,000 Aeroplan | $1,186 | Apply |
 |
American Express Gold Card | 60,000 Membership Rewards | $1,070 | Apply |
Click here to see all American Express credit cards in our credit card browser.
Best Bank of Montreal (BMO) Credit Cards
BMO credit cards offer cardholders the opportunity to earn their in-house loyalty currency, BMO Rewards, in addition to a few cards that earn AIR MILES.
Frugal Flyer’s favorite BMO credit card is the BMO AIR MILES World Elite Mastercard as it has a welcome bonus of 2,000 AIR MILES. AIR MILES can be redeemed towards travel or merchandise purchases, particularly through the Onyx Personal Shopper feature.
The BMO AIR MILES World Elite Mastercard earns AIR MILES and provides cardholders with the opportunity to earn 3x AIR MILES on all purchases made at AIR MILES partners.
Check out our BMO AIR MILES World Elite Mastercard review for more details.
2,000 AIR MILES
$3,000
$300+
$120 (FYF)
Yes
Nov 30, 2024
Below are the top five BMO credit cards based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
BMO World Elite Business Mastercard | 100,000 BMO Rewards | $670 | Apply |
 |
BMO Ascend World Elite Mastercard | 90,000 BMO Rewards | $603 | Apply |
 |
BMO AIR MILES World Elite Business Mastercard | 3,000 AIR MILES | $450 | Apply |
 |
BMO eclipse Visa Infinite Card | 60,000 BMO Rewards | $402 | Apply |
 |
BMO eclipse Visa Infinite Privilege Card | 120,000 BMO Rewards | $305 | Apply |
Click here to see all BMO credit cards in our credit card browser.
Best CIBC Credit Cards
CIBC credit cards earn a few different miles and points currencies, including CIBC Aventura points and Air Canada Aeroplan points.
Frugal Flyer’s favorite CIBC credit card is the CIBC Aventura Visa Infinite card as it offers a welcome bonus of 45,000 Aventura points which can be redeemed via the CIBC Shopping with Points feature for travel purchases at a rate of 0.125 cents per point!
The CIBC Aventura Visa Infinite card earns Aventura points and offers cardholders benefits including a $100 NEXUS statement credit and four complimentary airport lounge passes annually.
Check out our CIBC Aventura Visa Infinite card review for more details.
45,000 Aventura
$3,000
$990+
$139 (FYF)
Yes
–
Below are the top five CIBC credit cards based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
CIBC Aventura Visa Infinite Privilege Card | 80,000 Aventura | $1,261 | Apply |
 |
CIBC Aeroplan Visa Infinite Privilege Card | 80,000 Aeroplan | $1,081 | Apply |
 |
CIBC Aeroplan Visa Infinite Card | 50,000 Aeroplan | $1,050 | Apply |
 |
CIBC Aventura Gold Card | 45,000 Aventura | $990 | Apply |
 |
CIBC Aventura Visa Infinite Card | 45,000 Aventura | $990 | Apply |
Click here to see all CIBC credit cards in our credit card browser.
Best Royal Bank of Canada (RBC) Credit Cards
RBC offers some of our favorite travel-focused credit cards in Canada, giving cardholders the opportunity to earn Avion Rewards, WestJet Rewards, British Airways Avios, and Cathay Pacific Asia Miles.
Frugal Flyer’s favorite RBC credit card is the RBC Avion Visa Infinite card as it offers a welcome bonus of 55,000 Avion Rewards points which can be transferred to a few frequent flyer programs, including the valuable British Airways Avios.
The RBC Avion Visa Infinite card earns Avion Elite points and gives cardholders the opportunity to earn 1.25x Avion Elite points on all travel purchases.
In 2024, we awarded this card as the Best Flexible Points Travel Credit Card.
Check out our RBC Avion Visa Infinite card review for more details.
55,000 Avion
$0
$925+
$120
Yes
Nov 25, 2024
Below are the top five RBC credit cards based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
RBC Avion Visa Infinite Privilege Card | 70,000 Avion | $931 | Apply |
 |
RBC Avion Visa Infinite Card | 55,000 Avion | $925 | Apply |
 |
RBC British Airways Visa Infinite Card | 60,000 Avios | $855 | Apply |
 |
WestJet RBC World Elite Mastercard | 700 WestJet dollars | $581 | Apply |
 |
RBC Avion Visa Platinum Card | 35,000 Avion | $545 | Apply |
Click here to see all RBC credit cards in our credit card browser.
Best Scotiabank Credit Cards
Scotiabank has some of the most well-rounded and robust travel credit cards in Canada. All of their cards earn Scene+ Rewards points which are anchored at 1 cent per point when redeeming towards travel purchases made on the card.
Frugal Flyer’s favorite Scotiabank credit card is the Scotiabank Gold American Express card as it offers a welcome bonus of 45,000 Scene+ Rewards points which are one of the most straightforward currencies to redeem towards any travel purchases.
The Scotiabank Gold American Express card earns Scene+ Rewards points and gives cardholders the opportunity to earn 5x Scene+ points on grocery, restaurant, and entertainment purchases. This card charges no foreign exchange fees.
Check out our Scotiabank Gold American Express card review for more details.
45,000 Scene+
$7,500
$450+
$120 (FYF)
No
Oct 31, 2024
Below are the top five Scotiabank credit cards based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
Scotiabank Gold American Express Card | 45,000 Scene+ | $450 | Apply |
 |
Scotiabank Platinum American Express Card | 60,000 Scene+ | $201 | Apply |
 |
Scotiabank Momentum Visa Infinite Card | 200 cash back | $200 | Apply |
 |
Scotiabank Passport Visa Infinite Card | 35,000 Scene+ | $200 | Apply |
 |
Scotiabank American Express Card | 5,000 Scene+ | $50 | Apply |
Click here to see all Scotiabank credit cards in our credit card browser.
Best TD Credit Cards
TD has credit cards that earn both TD Rewards points and Air Canada Aeroplan points.
Frugal Flyer’s favorite TD credit card is the TD First Class Travel® Visa Infinite Card as it offers a welcome bonus of 135,000 TD Rewards points. TD Rewards points can be redeemed towards travel purchases via Expedia for TD at a rate of 0.5 cents per point, or book any way travel at a rate of 0.4 cents per point.
The TD First Class Travel® Visa Infinite* card earns TD Rewards points and gives cardholders the opportunity to earn 8x TD Rewards on purchases at Expedia for TD.
Check out our TD First Class Travel Visa Infinite card review for more information.
In 2024, we awarded this card as the Best Fixed Value Points Credit Card.
135,000 TD Rewards
$5,000
$675+
$139 (FYF)
Yes
Jan 6, 2025
Below are the top five TD credit cards based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
TD® Aeroplan® Visa Infinite Privilege Card | 80,000 Aeroplan | $1,081 | Apply |
 |
TD® Aeroplan® Visa Infinite Card | 50,000 Aeroplan | $1,050 | Apply |
 |
TD First Class Travel® Visa Infinite Card | 135,000 TD Rewards | $675 | Apply |
 |
TD® Aeroplan® Visa Platinum Card | 20,000 Aeroplan | $420 | Apply |
 |
TD Cash Back Visa Infinite Card | 350 cash back | $350 | Apply |
Click here to see all TD credit cards in our credit card browser.
Best Credit Cards in Canada by Category for October 2024
If you are interested in adding a credit card to your wallet for a specific need such as increased spending rewards or saving on foreign transaction fees, we’ve captured the best credit cards for those needs below.
Best Credit Cards for Grocery Purchases
Grocery purchases are one of the biggest monthly spending categories for many Canadians, so it absolutely makes sense to hold a credit card that earns big rewards in this purchase category.
Frugal Flyer’s favorite credit card for grocery purchases is the Scotiabank Gold American Express card as it earns 6x Scene+ Rewards points at all Empire grocery stores, including Safeway, Sobeys, IGA, and Freshco. If you don’t shop at a grocery store that falls under the Empire banner, you will still earn 5x Scene+ Rewards points on purchases at all other eligible grocery stores.
The Scotiabank Gold American Express card earns Scene+ Rewards points and gives cardholders the opportunity to earn 5x Scene+ points on grocery, restaurant, and entertainment purchases. This card charges no foreign exchange fees.
Check out our Scotiabank Gold American Express card review for more details.
45,000 Scene+
$7,500
$450+
$120 (FYF)
No
Oct 31, 2024
Below are the top five credit cards for grocery purchases based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
|
Scotiabank Gold American Express Card | 45,000 Scene+ | $450 | Apply |
 |
BMO CashBack World Elite Mastercard | 250 cash back | $250 | Apply |
|
Scotiabank Momentum Visa Infinite Card | 200 cash back | $200 | Apply |
 |
MBNA Rewards World Elite Mastercard | 30,000 MBNA Rewards | $180 | Apply |
 |
American Express Cobalt Card | 15,000 Membership Rewards | $174 | Apply |
If you are interested in learning more, check out our article on the best credit cards for buying groceries for Canadians.
Best Credit Cards for Restaurant & Dining Purchases
If you find yourself dining out frequently with friends and family, adding a credit card that earns bonus rewards on these purchases can go a long way in building your miles and points balances.
Frugal Flyer’s favorite credit card for restaurant and dining purchases is the American Express Cobalt card as it earns 5x Membership Rewards points on these purchases, up to $2,500 CAD per month.
The American Express Cobalt card earns Membership Rewards points and gives cardholders the opportunity to earn 5x Membership Rewards on eligible restaurant, food delivery, and grocery store purchases.
In 2024, we selected this card to receive the award Best Credit Card for Grocery Purchases.
Check out our American Express Cobalt card review for more details.
15,000 Membership Rewards
$9,000
$174+
$156
Yes
–
Below are the top five credit cards for restaurant and dining purchases based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
|
Scotiabank Gold American Express Card | 45,000 Scene+ | $450 | Apply |
|
MBNA Rewards World Elite Mastercard | 30,000 MBNA Rewards | $180 | Apply |
|
American Express Cobalt Card | 15,000 Membership Rewards | $174 | Apply |
 |
Simplii Financial Cash Back Visa Card | 50 cash back | $50 | Apply |
 |
Rogers Red World Elite Mastercard | 0 cash back | $0 | Apply |
If you are interested in learning more, check out our article on the best credit cards for dining out for Canadians.
Best Credit Cards for Purchases in Foreign Currencies
If you regularly travel outside of Canada or make purchases in foreign currencies, adding a credit card that offers no foreign transaction fees will result in savings of 2.5% on every purchase. While this is a powerful benefit, there are only a few cards that offer this benefit in Canada.
Frugal Flyer’s favorite credit card for purchases in foreign currencies is the Scotiabank Passport Visa Infinite card which saves 2.5% on all purchases and comes with another valuable travel benefit, six free airport lounge passes via DragonPass.
The Scotiabank Passport Visa Infinite card earns Scene+ Rewards points and offers cardholders benefits such as no foreign transaction fees and six complimentary airport lounge access passes annually.
Check out our Scotiabank Passport Visa Infinite card review for more details.
In 2024, we awarded this card as the Best Foreign Transaction Credit Card.
35,000 Scene+
$40,000
$200+
$150
No
Oct 31, 2024
Below are the top three credit cards for purchases in foreign currencies based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
|
Scotiabank Gold American Express Card | 45,000 Scene+ | $450 | Apply |
|
Scotiabank Platinum American Express Card | 60,000 Scene+ | $201 | Apply |
|
Scotiabank Passport Visa Infinite Card | 35,000 Scene+ | $200 | Apply |
If you are interested in learning more, check out our article on the best credit cards to use for foreign transactions for Canadians.
Best Credit Cards with No Annual Fees
Credit cards that have annual fees aren’t for everyone, and if you are looking for a low-commitment credit card option that still offers rewards and benefits, there are a few options worth considering.
Frugal Flyer’s favorite credit card with no annual fee is the Simplii Financial Cash Back Visa card as it earns 4% cash back on all purchases at restaurants, bars, and coffee shops, for up to $5,000 CAD per year.
The Simplii Financial Cash Back Visa card earns cash back and gives cardholders the opportunity to earn up to 4% cash back on purchases at restaurants, bars, and coffee shops.
Check out our Simplii Financial Cash Back card review for more details.
$50 cash back
$500
$50+
$0
Yes
Oct 31, 2024
Below are the top five credit cards with no annual fees based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
 |
MBNA Rewards Platinum Plus Mastercard | 10,000 MBNA Rewards | $100 | Apply |
 |
Tangerine World Mastercard | 100 cash back | $100 | Apply |
 |
Rogers Red Mastercard | 60 cash back | $60 | Apply |
|
Simplii Financial Cash Back Visa Card | 50 cash back | $50 | Apply |
 |
Canadian Tire Triangle World Elite Mastercard | 0 Canadian Tire Money | $0 | Apply |
If you are interested in learning more, check out our article on the best credit cards with no annual fees in Canada.
Best Credit Cards with Low Income Requirements
If you are starting out in your career or are currently a student working part-time, there are still some excellent credit cards that you can be approved for with a lower annual income.
Frugal Flyer’s favorite credit card with low income requirements is the Rogers Red Mastercard as it offers 2% cash back on all purchases for Rogers, Fido, and Shaw customers. Cardholders will receive an effective 3% cash back if they redeem their cash back for Rogers, Fido, or Shaw products and services.
With the Rogers Red Mastercard, Rogers, Fido and Shaw postpaid customers can earn 2% cash back on all eligible purchases and get a 1.5x redemption bonus on Rogers, Fido and Shaw purchases – a 3% cash back value.
Check out our Rogers Red Mastercard review for more details.
$60 cash back
$0
$60+
$0
Yes
–
Below are the top five credit cards with low income requirements based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
|
Scotiabank Gold American Express Card | 45,000 Scene+ | $450 | Apply |
|
MBNA Rewards Platinum Plus Mastercard | 10,000 MBNA Rewards | $100 | Apply |
 |
Tangerine Money-Back Credit Card | 100 cash back | $100 | Apply |
|
Rogers Red Mastercard | 60 cash back | $60 | Apply |
|
Simplii Financial Cash Back Visa Card | 50 cash back | $50 | Apply |
If you are interested in learning more, check out our article on the best credit cards with low income requirements for Canadians.
Best Credit Cards for Free Airport Lounge Access
If you are a frequent traveler, free airport lounge access is one of the best benefits to have on a credit card. Airport lounges are a great way to kill time before a flight and often include complimentary food and drink, as well as a much more comfortable place to relax than the public seating in the terminal.
Frugal Flyer’s favorite credit card for free airport lounge access is the American Express Platinum card which comes with unlimited airport lounge access, oftentimes for both the cardholder and a guest, through the American Express Global Lounge Collection.
The American Express Platinum card earns Membership Rewards and offers cardholders a variety of benefits including an annual $200 travel credit, complimentary airport lounge access, an annual $200 dining credit, and instant elite status with many hotel loyalty programs.
In 2024, we awarded this card as the Best Credit Card for Airport Lounge Access.
100,000 Membership Rewards
$10,000
$1,401+
$799
Yes
–
Below are the top five credit cards that offer free airport lounge access based on current welcome offers:
| Credit Card | Welcome Bonus | Net Value | ||
|---|---|---|---|---|
|
American Express Platinum Card | 100,000 Membership Rewards | $1,401 | Apply |
|
TD® Aeroplan® Visa Infinite Privilege Card | 80,000 Aeroplan | $1,081 | Apply |
|
CIBC Aventura Visa Infinite Card | 45,000 Aventura | $990 | Apply |
|
BMO Ascend World Elite Mastercard | 90,000 BMO Rewards | $603 | Apply |
|
Scotiabank Passport Visa Infinite Card | 35,000 Scene+ | $200 | Apply |
If you are interested in learning more, check out our article on the best credit cards with free airport lounge access for Canadians.
Frugal Flyer’s Credit Card Browser Tool: Find Your Best Credit Card
While we have captured many of what we consider to be the best credit cards in Canada above, we recognize that personal finance is an individual journey and that our favorite cards might not work for everyone.
To help our readers make the best decision possible when adding a new credit card to their wallet, Frugal Flyer’s best credit card comparison tool contains over 90 of the best credit cards available for Canadians.
Readers can filter to find the best credit card to add to their wallet on a variety of criteria, including welcome bonus, minimum spending amount to earn the welcome bonus, first year annual fee, financial institution, rewards program, income requirements, airport lounge access, and more.
Conclusion
Canadians are lucky to have many great credit cards to choose from, no matter their personal financial situation or needs. Whether you are looking to add a high-end travel credit card to your wallet or are simply looking for a new card to increase the rewards earned in a specific spending category, Frugal Flyer is committed to helping you find the best card for your situation.
Josh Bandura
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