Premium credit cards and metal credit cards go hand-in-hand in many consumers’ eyes. After all, if you are going to spend a significant amount on an annual fee, you want to feel like you are paying for a premium product. While you might wonder if high annual fees are worth it, that answer can only be left up to the individual and the value they see in the credit card’s suite of benefits.
However, card issuers have noticed that the desire for more premium products is there among their cardholder base, and as such, quite a few financial institutions offer metal credit cards in Canada now.
Let’s look at the best metal credit cards and the issuers that offer them in Canada.
What is a Metal Credit Card?
Think of your plastic credit card or debit card that currently sits in your wallet. Instead of cheap plastic, metal credit cards are made of a different harder material such as stainless steel, aluminum, titanium, or other metallics.
As a result, a metal card looks and feels different from your typical plastic credit card. It is attractive for those individuals who are seeking out a premium product and want to feel like they have something that is “exclusive” on the market.
Benefits of a Metal Credit Card
Metal credit cards are not different from any other cards, outside of what they are made out of. This gives them a few additional uses as opposed to their plastic counterparts:
- The card doesn’t get bent or warp after a few months in your wallet
- You can use it as a windshield scraper for the relentless Canadian winters
- If you are lacking one, the card makes a quick paperweight or a coaster
- If you want to access your ninja skills, it can be turned into a throwing star (if you sharpen the edges)
Alas, I joke. Having a premium credit card can absolutely be worth it. Since there are no metal-specific benefits to take advantage of, I recommend looking holistically at what the card offers, including the welcome bonus and benefits, such as any annual statement credits, before signing up. Not to mention that if you are looking to use your metal credit card as a daily driver, you may want to also compare how many points you will earn for every dollar spent on eligible purchases at gas stations, grocery stores, and travel purchases.
Simply because a credit card is metal and as a result, commands a high annual fee, doesn’t mean that it is the best card out there!
Best Personal Metal Credit Cards in Canada
There are four financial institutions that offer personal metal credit cards in Canada: American Express, CIBC, TD Canada Trust, and Bank of Montreal (BMO).
No content was found.Let’s take a look in more detail at the personal best metal credit cards available in Canada below, in order from lowest annual fee to highest annual fee (before statement credits).
American Express Gold Card
The American Express Gold card has an annual fee of $250, which is the lowest annual fee of any metal card in Canada. When applying for this credit card, you can select if you would like the classic gold version or the rose gold version.
The American Express Gold card earns Membership Rewards points and offers cardholders a variety of benefits including an annual $100 travel credit, $50 NEXUS credit, and four complimentary Plaza Premium airport lounge passes per year.
60,000 Membership Rewards
$12,000
$1,070+
$250
Yes
–
The American Express Gold card comes with an annual $100 Amex Travel credit, which can be used on the American Express Travel portal. Other notable benefits of this card are a $50 NEXUS credit that can be used towards NEXUS membership and four complimentary airport lounge passes to Priority Plaza lounges.
Overall, the American Express Gold card presents a budget-friendly option for those consumers who are interested in the best metal credit card for a low cost. Thanks to the easily used annual travel credit, this metal card has a net cost of $150 annually.
BMO Eclipse Visa Infinite Privilege Card
The BMO Eclipse Visa Infinite Privilege card has an annual fee of $499, putting it in the middle range of annual fees when it comes to metal credit cards in Canada.
The BMO eclipse Visa Infinite Privilege card earns BMO Rewards points and offers cardholders benefits including an annual $200 lifestyle credit and six complimentary airport lounge passes annually.
120,000 BMO Rewards
$75,000
$305+
$499
Yes
May 31, 2024
Compared to other metal cards, the BMO Eclipse Visa Infinite Privilege doesn’t have many benefits that help it stand out as a more premium card. Cardholders are able to access six complimentary Priority Pass airport lounge visits per year.
Interestingly, this card also has a $200 annual lifestyle credit available each calendar year. This credit is applied to the first purchase of over $200 during the calendar year and will be automatically applied to your credit card statement.
Thanks to this lifestyle credit, if you apply strategically you can double dip on this credit during your first cardholder year, leaving this card with a net cost of$99 annually.
CIBC Aventura Visa Infinite Privilege Card
The CIBC Aventura Visa Infinite Privilege card has an annual fee of $499, keeping it in the middle of the pack of metal credit cards that are available to Canadians.
The CIBC Aventura Visa Infinite Privilege card earns Aventura points and offers cardholders benefits including an annual $200 travel credit, $100 NEXUS credit, and six complimentary airport lounge passes.
80,000 Aventura
$6,000
$1,261+
$499
Yes
–
This card comes with an annual $200 travel credit, however, this credit cannot be cashed out using the refundable hotel trick. It can only be applied to new bookings for flights, hotels, and car rentals that are made through the CIBC Rewards Centre. The credit is applied by the rep when you are making the booking, so there is no statement credit that will ever show on your account statement.
The CIBC Aventura Visa Infinite Privilege grants cardholders six Priority Pass airport lounge passes per membership year. Cardholders will also receive a $100 NEXUS credit to be applied towards new or renewed membership.
TD & CIBC Aeroplan Visa Infinite Privilege Card
The TD Aeroplan Visa Infinite Privilege card has an annual fee of $599, making it the second most expensive metal card in Canada. However, this card has consistently seen one of the highest Aeroplan welcome bonuses in Canada which alone can easily make the annual fee worth it.
The TD® Aeroplan® Visa Infinite Privilege* card earns Aeroplan points and offers cardholders a variety of Air Canada benefits including priority boarding, free checked baggage, and Maple Leaf lounge access.
Check out our TD Aeroplan Visa Infinite Privilege card review for more details.
85,000 Aeroplan
$15,000
$1,186+
$599
Yes
Jun 3, 2024
If you love taking advantage of Aeroplan travel rewards, this card offers an easy way to accrue Aeroplan points on all purchases. The card also comes with quite a few Air Canada perks, including free checked baggage, priority boarding, and Maple Leaf Lounge access (perfect for accessing lounges such as the Maple Leaf Lounge, YVR Transborder).
Outside of the complimentary Maple Leaf Lounge access, cardholders also receive six annual complimentary Priority Pass airport lounge visits. Similar to many of the other premium metal cards on this list, the Aeroplan Visa Infinite Privilege cards also offer a NEXUS statement credit for new or renewed NEXUS membership.
The CIBC Aeroplan Visa Infinite Privilege card comes with the same annual fee and almost nearly identical benefits. The main difference is that the welcome bonus can vary greatly between these two cards, so I recommend comparing the two before applying for either card.
The CIBC Aeroplan Visa Infinite Privilege card earns Aeroplan points and offers cardholders various Air Canada benefits including priority boarding, free checked baggage, and Maple Leaf lounge access.
90,000 Aeroplan
$25,000
$1,291+
$599
Yes
–
American Express Aeroplan Reserve Card
The American Express Aeroplan Reserve card has an annual fee of $599, aligning it with the premium TD & CIBC Aeroplan cards mentioned above.
The Amex Aeroplan Reserve card earns Aeroplan points and offers cardholders various Air Canada benefits including priority boarding, free checked baggage, and Maple Leaf lounge access. In 2024, we awarded this card as the Best Air Canada Aeroplan Credit Card.
Check out our American Express Aeroplan Reserve card review for more details.
85,000 Aeroplan
$10,000
$1,186+
$599
Yes
–
Similar to the CIBC & TD Aeroplan cards in this article, this card offers a range of Air Canada perks, including Maple Leaf Lounge access at airports across Canada. There is also a $100 NEXUS rebate offered for new or renewed membership.
The main difference between the Amex Aeroplan Reserve card and all others lies in the increased earning rates for every dollar spent on a few categories including all Air Canada purchases and dining purchases.
If you are spending a lot on Air Canada purchases and want to accrue Aeroplan points quickly on your other eligible purchases, I believe this is the best personal metal card in Canada in relation to the Aeroplan program.
American Express Platinum Card
The American Express Platinum card has an annual fee of $799, which makes it the most expensive metal card in Canada. Historically, this card has a very strong welcome bonus of Membership Rewards points. This bonus can improve even further if you are able to refer or be referred by your player two for additional points.
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
–
The Platinum credit card comes with a variety of perks, including instant and complimentary status in various hotel loyalty programs, including Marriott Bonvoy, Hilton Honors, and Radisson Rewards. Cardholders will also receive a $100 NEXUS credit to be applied towards a new NEXUS membership or renewal.
Additionally, cardholders are able to access the Amex Global Lounge Collection program which provides complimentary airport lounge access worldwide. The unlimited lounge access, which includes a significant amount of lounges, makes this card the best personal metal credit card in Canada in my opinion.
Additionally, each year of card membership cardholders will receive a $200 Amex Travel annual statement credit. Similar to the Personal Gold card above, the $200 Amex Travel credit can be used towards any bookings on the American Express Travel portal. This lowers the net cost of $599 annually.
Best Business Metal Credit Cards in Canada
There is one financial institution that offers metal business credit cards in Canada: American Express. These cards are directed toward small business owners, however, you can get business credit cards as an individual.
No content was found.Let’s take a look in more detail at the two business metal credit cards available in Canada below, in order from lowest annual fee to highest annual fee.
American Express Business Platinum Card
The American Express Business Platinum Card has an annual fee of $799 making it the most expensive metal business credit card in Canada.
The American Express Business Platinum card earns Membership Rewards points and offers cardholders benefits including complimentary access to the American Express Global Lounge Collection, a $100 NEXUS membership credit, an annual $200 travel credit, and more.
120,000 Membership Rewards
$15,000
$1,841+
$799
Yes
–
Similar to the Personal Platinum card, the Amex Business Platinum card comes with a few perks for cardholders. Access to the Amex Global Lounge Collection is the biggest one to note, as this benefit gives cardholders access to lounges worldwide including the renowned Amex Centurion collection of lounges.
Cardholders also receive instant and complimentary Marriott Gold Elite status and Hertz Gold Plus status.
American Express Aeroplan Business Reserve Card
The American Express Aeroplan Business Reserve card has an annual fee of $599.
The Amex Aeroplan Business Reserve card earns Aeroplan points and offers cardholders various Air Canada benefits including priority boarding, free checked baggage, and Maple Leaf lounge access.
90,000 Aeroplan
$14,000
$1,291+
$599
Yes
–
This card offers a range of Air Canada perks, including Maple Leaf Lounge access at airports across Canada.
The Amex Aeroplan Business Reserve card has increased earning rates for every dollar spent on a few categories including all Air Canada purchases and travel purchases.
Conclusion
While the idea of a metal credit card is still quite novel for many cardholders, it doesn’t change the way that we look at the value proposition of a credit card as a travel hacker. If anything, I would consider it the same as preferring to have a more attractive-looking design on your credit card.
If you were already planning on applying for a specific credit card, and it happens to be metal, if anything it is a nice little perk on the side. As mentioned above, many of the metal cards in Canada have exceptional welcome bonuses and additional perks, so consider adding one of these cards to your wallet.
Frequently Asked Questions
There are currently seven personal metal credit cards available in Canada: American Express Gold Card, American Express Platinum Card, American Express Aeroplan Reserve Card, BMO Eclipse Visa Infinite Privilege Card, CIBC Aventura Visa Infinite Privilege Card, CIBC Aeroplan Visa Infinite Privilege Card, and the TD Aeroplan Visa Infinite Privilege Card.
There are currently two business metal credit cards available in Canada: American Express Business Platinum Card and the American Express Aeroplan Business Reserve Card.
Obtaining a metal credit card is no different than any other credit card. Ensure that you meet the minimum personal or household income requirement before applying to ensure you have the best chance of being approved.
In Canada, annual fees for the best metal credit cards range from $250 to $699.
If you don’t want to keep your closed credit card in a nightstand drawer, most financial institutions will give you the opportunity to mail the metal card back to them once closed for disposal.
Do not try using a shredder to dispose of a metal credit card. If you want to destroy it yourself, consider using a pair of tin snips.
A metal credit card is not worth it solely for the fact that it is metal. Instead, focus on the value you can extract from the card in the form of welcome bonuses and perks, not on how the card looks. If you find a metal credit card that meets your lifestyle and travel needs, then absolutely it is worth it.
Unfortunately, yes. Even though metal cards are premium and have the highest tier of perks from insurance to welcome bonus, all the metal cards (and almost all Canadian cards in general) have transaction fees of 2.5% on foreign purchases.
Consider the Scotiabank Gold American Express card instead if you are looking for a Canadian credit card with no forex fees.
Josh Bandura
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