Choosing and signing up for a new credit card is a big choice for many Canadians and one that isn’t taken lightly. Deciding between a card with no annual fees or annual fees, the type of welcome bonus, benefits, and insurance coverages can be overwhelming for those who are looking for the best credit card to complement their lifestyle.
Personally, I try to keep at least one Mastercard, one Visa card, and one American Express card in my wallet at all times for merchant acceptance diversity in addition to different perks and earning rates. My Mastercard is a key component of my personal finance habits; if you are looking to add a new Mastercard to your wallet, you might as well add one of the best Mastercard credit cards that are available to Canadians.
Let’s take a look at the best Mastercard credit cards in Canada to help you find a credit card that is right for you.
Why Choose a Mastercard Credit Card?
Mastercard is one of the two most widely accepted credit card brands worldwide, making them a great option for international travel as you can always be certain that if a retailer takes credit cards, they will most likely be part of the Mastercard network.
Not to mention, many of the Mastercard credit cards available to Canadians come with a wealth of benefits, perks, and strong welcome bonuses, making them a compelling addition to your wallet.
Related: A Tutorial to Choosing Credit Card Welcome Offers
The Best Mastercard Credit Cards in Canada
Many financial institutions in Canada offer Mastercards as part of their financial product lineups. Below, we’ve captured a list of our favorite Mastercard credit cards in Canada and why you should consider adding them to your wallet.
WestJet RBC World Elite Mastercard
The WestJet RBC World Elite Mastercard offers robust travel benefits tailored to WestJet enthusiasts.
The WestJet RBC World Elite Mastercard offers a WestJet companion voucher on approval (with the ability to earn one each anniversary year through spending), plus a first free checked bag on WestJet flights.
Check out our WestJet RBC World Elite Mastercard review for more details.
70,000 WestJet points
$5,000
$700+
$139
Yes
Feb 4, 2026
Cardholders enjoy an annual round-trip companion voucher, allowing them to bring a friend or family member on a WestJet flight for a nominal fee. This perk alone can significantly offset the card’s annual fee. Additionally, cardholders will receive one checked bag for themselves and up to eight guests on the same itinerary when flying on WestJet; this is the best way to save on WestJet baggage fees.
Furthermore, the card provides a generous welcome bonus, typically in the form of WestJet points, which can be redeemed for flights, vacation packages, and other travel expenses. With accelerated earn rates on WestJet purchases and everyday spending, cardholders accumulate rewards quickly.
The WestJet RBC World Elite Mastercard stands out for its comprehensive travel insurance coverage, including emergency medical coverage, trip cancellation/interruption insurance, and rental car insurance. These features enhance the cardholder’s peace of mind during their travels.
If you don’t meet the personal annual income requirement of $80,000 or household annual income requirement of $150,000 for this card, consider the WestJet RBC Mastercard as an alternative.
MBNA Rewards World Elite Mastercard
The MBNA Rewards World Elite Mastercard earns 5 MBNA Rewards points for every dollar spent on restaurant, grocery, digital media, memberships, and household utility purchases which works out to be a 5% return on all spend in these categories. Many everyday purchases will fall into these categories, making this a top-tier card for earning rewards.
The MBNA Rewards World Elite Mastercard earns 5x MBNA Rewards points on restaurant, grocery, digital media, memberships, and household utility purchases.
Check out our MBNA Rewards World Elite Mastercard review for more details.
Earn when you apply through Frugal Flyer.
30,000 MBNA Rewards points
$2,000
$425+
$120
Yes
–
As a perk of holding the MBNA Rewards World Elite Mastercard, cardholders will also receive birthday bonus points. This bonus is equal to 10% of the total number of points earned in the 12 months leading up to the cardholder’s birthday. This bonus has a limit of 15,000 MBNA Rewards points.
MBNA Rewards points can be redeemed for travel, a statement credit, merchandise, and gift cards. Redeeming for travel purchases is the best value for your points as they can be redeemed at a rate of 100 MBNA Rewards points = $1 CAD.
If you don’t meet the personal annual income requirement of $80,000 or household annual income requirement of $150,000 for this card, consider the MBNA Rewards Platinum Plus Mastercard as an alternative.
Tangerine Money-Back World Mastercard
The Tangerine Money-Back World Mastercard has no annual fee and is a great credit card that earns elevated cash back on categories of the cardholder’s choice.
The Tangerine Money-Back World Mastercard offers cardholders the ability to choose up to three accelerated spending categories to increase their cash back earnings.
Check out our Tangerine Money-Back World Mastercard review for more details.
Earn when you apply through Frugal Flyer.
$120 cash back
$1,500
$280+
$0
Yes
Jan 30, 2026
With the Tangerine Money-Back World Mastercard, cardholders can participate in a customizable cash back rewards system. Cardholders can choose three spending categories to earn an enhanced 2% cash back, providing flexibility to align rewards with personal spending habits. These categories include grocery, furniture, restaurants, hotel/motel, gas, recurring bill payments, drug store, home improvement, entertainment, and public transport/parking.
Money-back rewards that are earned on the Tangerine Money-Back World Mastercard are paid monthly. The cash back will be issued either as a statement credit on the credit card account or as a deposit to a Tangerine savings account, depending on the cardholder’s preference.
Additionally, cardholders enjoy perks such as rental car insurance, extended warranty coverage, and purchase assurance, enhancing the overall value of the card.
As an alternative, the Tangerine Money-Back Mastercard is also available as another potential Mastercard option.
BMO Ascend World Elite Mastercard
The BMO Ascend World Elite Mastercard offers an accelerated earning rate of 5 BMO Rewards points per dollar spent on all travel purchases.
The BMO Ascend World Elite Mastercard earns 5x BMO Rewards on travel purchases and offers four airport lounge passes annually.
Earn when you apply through Frugal Flyer.
90,000 BMO Rewards points
$34,500
$728+
$150 (FYF)
Yes
Jan 31, 2026
BMO Ascend World Elite cardholders are eligible to receive complimentary membership to the Dragonpass lounge program, in addition to four complimentary airport lounge passes. Lounge visits are a great way to make your next vacation more enjoyable with free food, drink, and exclusivity away from the rest of the terminal.
While BMO Rewards can be redeemed for travel, merchandise, gift cards, a statement credit, or cash investment in a BMO investment account, the best value is travel. When redeeming points towards bookings made through the travel portal, the redemption rate is 150 BMO Rewards points = $1 CAD.
BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard is the best cash back credit card for grocery purchases in Canada.
The BMO CashBack World Elite Mastercard earns up to 5% cash back on grocery purchases, plus elevated cash back earning rates on other popular spending categories.
Check out our BMO Cashback World Elite Mastercard review for more details.
Earn when you apply through Frugal Flyer.
$335 cash back
$2,600
$460+
$120 (FYF)
Yes
Jan 31, 2026
The biggest benefit of this card is that cardholders will earn 5% cash back on all grocery purchases (up to $500 per statement period) and 4% on all transit purchases (up to $300 per statement period). While less impressive, the card also earns 3% cash back on all gasoline purchases (up to $300 per statement period), 2% cash back on all recurring bills (up to $500 per statement period), and 1% cash back on all other eligible purchases.
BMO CashBack World Elite cardholders can redeem their earned cash back as long as the balance is over $1, or you can set up automatic recurring redemptions which will trigger at the end of the billing cycle if the balance is over $25. Cashback deposits take 2-5 business days following the request or billing cycle.
Rogers Red Mastercard
The Rogers Red Mastercard has no annual fee and is a great Mastercard for those customers who have at least one service with Rogers, Fido, or Shaw as a result of the elevated cash back earnings.
With the Rogers Red Mastercard®, Rogers, Fido, Shaw, and Comwave postpaid consumer customers can earn 2% cash back on all eligible purchases and get a 1.5x redemption bonus on Rogers, Fido, Shaw, and Comwave purchases – a 3% cash back value.
Check out our Rogers Red Mastercard review for more details.
$0 cash back
$0
$0+
$0
Yes
–
Cardholders will receive up to five free “Roam Like Home” days every calendar year to be used when traveling outside of Canada. This means that they can save on paying international cell phone fees when traveling.
Cash back can be redeemed in minimum increments of $10. Cash back redemptions made in the Rogers Bank app towards Rogers purchases such as phones, bill payments, and accessories are worth 30% more. This means that a $10 redemption has a value of $13 when used towards Rogers purchases.
National Bank World Elite Mastercard
The National Bank World Elite Mastercard is a great all-around credit card for those who value travel and are looking for benefits to make their next trip that much better.
The National Bank World Elite Mastercard offers benefits that include an annual $150 travel credit and access to the National Bank VIP airport lounge in the Montreal Airport International terminal.
Check out our National Bank World Elite Mastercard review for more details.
Earn when you apply through Frugal Flyer.
45,000 À la carte Rewards
$15,000
$550+
$150
Yes
Dec 1, 2025
National Bank World Elite cardholders are eligible to receive a $150 travel credit per calendar year. This travel credit can be applied towards a range of ancillary travel expenses including airport parking, baggage fees, seat selection, access to airline lounges, and airline ticket upgrades.
Cardholders also receive complimentary access to the National Bank VIP airport lounge at Montreal Trudeau Airport (YUL). The lounge is located in the international terminal. This benefit entitles the cardholder, one guest, and two children 12 and under access to the lounge.
This card also has some of the best travel insurance available via credit card for Canadians, and it even provides coverage when booking award flight redemptions. Other insurances, such as mobile device insurance and purchase protection, are also available.
Conclusion
It is always worth holding at least one Mastercard credit card in your wallet for merchant acceptance reasons, and any of the best Mastercards in Canada would be a great fit based on your personal financial needs. If you are interested in seeing what other credit card options are available to Canadians, check out our credit card comparison tool.
Josh Bandura
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