Choosing the right credit card in Canada can be overwhelming, but selecting one that offers valuable rewards and low fees can significantly enhance your financial well-being. In 2026, several credit cards stand out for their exceptional benefits. Here’s a detailed look at the top ten options available this year.
Best for: High cash-back rewards with premium perks
Annual Fee: $120 (first year waived)
Welcome Offer: Up to 10% cash back on eligible purchases for the first 3 months
Cash Back Rates:
5% on groceries
4% on transit and gas
1% on all other purchases
Additional Benefits:
Comprehensive travel insurance
Concierge service
Extended warranty and purchase protection
The BMO CashBack® World Elite®* Mastercard® is ideal for those who spend significantly on groceries and transportation. Its robust cash-back rates and premium perks make it a top choice for 2025.
2. American Express® Cobalt® Card
Best for: Maximizing rewards on dining and entertainment
Annual Fee: $155.88
Welcome Offer: Up to 15,000 Membership Rewards® points
Rewards Rates:
5x points on eligible eats and drinks
2x points on travel and transit
1x point on all other purchases
Additional Benefits:
Access to exclusive events
Travel insurance coverage
Flexible point redemption options
The American Express® Cobalt® Card is perfect for foodies and entertainment enthusiasts. Its high rewards rate on dining and entertainment, combined with flexible point redemption, offers excellent value.
3. Scotiabank® Platinum American Express® Card*
Best for: Low-interest rates and comprehensive travel insurance
Annual Fee: $399
Welcome Offer: $800 in Scotia Scene+™ Points
Interest Rate: 9.99% on purchases and cash advances
Rewards Rates:
3x points on grocery, dining, and entertainment
1x point on all other purchases
Additional Benefits:
No foreign transaction fees
Access to airport lounges
Extensive travel insurance coverage
For those carrying balances and seeking low-interest rates, the Scotiabank®* Platinum American Express® Card offers substantial savings and valuable rewards.
4. Simplii Financial Cash Back Visa Card
Best for: No-fee cash-back rewards
Annual Fee: $0
Welcome Offer: $50 bonus after first purchase
Cash Back Rates:
4% on eligible dining and entertainment
1.5% on gas and groceries
0.5% on all other purchases
Additional Benefits:
No foreign transaction fees
Purchase security and extended warranty
The Simplii Financial Cash Back Visa Card is an excellent choice for those looking for a no-fee card with competitive cash-back rates. Its simplicity and value make it a standout option.
5. Neo Financial Mastercard
Best for: Earning rewards at a wide range of retailers
Annual Fee: $0
Welcome Offer: $50 bonus after first purchase
Rewards Rates:
5% at select partner retailers
1% on all other purchases
Additional Benefits:
No foreign transaction fees
Purchase protection
Neo Financial Mastercard offers a unique rewards structure, partnering with various retailers to provide high cash-back rates. It’s ideal for shoppers who frequent these partner stores.
6. Scotiabank Passport™ Visa Infinite Card*
Best for: Frequent travelers seeking global benefits
Annual Fee: $150
Welcome Offer: 35,000 points (valued at $350)
Rewards Rates:
3 points per $1 on eligible dining and entertainment
2 points per $1 on eligible grocery and transit
1 point per $1 on all other purchases
Additional Benefits:
No foreign transaction fees
Access to over 1,200 airport lounges worldwide
Comprehensive travel insurance coverage
The Scotiabank Passport™ Visa Infinite* Card is ideal for travelers who frequently make purchases in foreign currencies, as it waives the typical 2.5% foreign transaction fee.
7. TD First Class Travel® Visa Infinite Card*
Best for: Earning high rewards on travel-related expenses
Annual Fee: $139
Welcome Offer: Up to 165,000 TD Rewards Points (valued at $1,400)
Rewards Rates:
3 points per $1 on travel purchases
2 points per $1 on dining and entertainment
1 point per $1 on all other purchases
Additional Benefits:
Access to over 1,000 airport lounges
Comprehensive travel insurance coverage
No foreign transaction fees
This card is tailored for frequent travelers, offering substantial rewards on travel-related expenses and valuable travel perks.
8. Tangerine World Mastercard®
Best for: Maximizing cash back with no annual fee
Annual Fee: $0
Welcome Offer: 10% cash back for the first 2 months (up to $100)
Cash Back Rates:
2% in up to 3 categories of your choice
0.5% on all other purchases
Additional Benefits:
No foreign transaction fees
Purchase security and extended warranty
The Tangerine World Mastercard® allows you to choose your preferred cash back categories, providing flexibility to align with your spending habits.
9. CIBC Dividend® Visa Infinite* Card
Best for: Everyday cash-back rewards
Annual Fee: $120
Welcome Offer: $300 cash back + first-year fee rebate
Cash Back Rates:
4% on groceries and gas
2% on dining and transit
1% on all other purchases
Additional Benefits: Travel and purchase insurance, extended warranty
This card is ideal for Canadians who want consistent cash-back rewards on everyday spending.
10. MBNA True Line® Gold Mastercard®
Best for: Low-interest rates on purchases and balance transfers
Annual Fee: $39
Interest Rates:
10.99% on purchases
10.99% on balance transfers
Additional Benefits:
No annual fee
Purchase assurance and extended warranty
For those carrying balances or planning balance transfers, the MBNA True Line® Gold Mastercard® offers one of the lowest interest rates available in Canada.
Top 10 Credit Cards in Canada for 2026 – Rewards & Low Fees
| Credit Card | Annual Fee | Welcome Offer | Top Rewards | Ideal For |
|---|---|---|---|---|
| BMO CashBack® World Elite® Mastercard® | $120 | Up to 10% cash back (first 3 months) | 5% on groceries, 4% on transit/gas, 1% on others | High earners seeking premium perks |
| American Express® Cobalt® Card | $155.88 | Up to 15,000 Membership Rewards® points | 5x on dining, 2x on travel/transit, 1x on others | Foodies and travelers |
| CIBC Dividend® Visa Infinite Card* | $120 | $300 cash back + first-year fee rebate | 4% on gas/groceries, 2% on transport/dining, 1% on others | Everyday spenders |
| Scotiabank® Platinum American Express® Card* | $399 | $800 in Scene+™ Points | 3x on groceries/dining/entertainment, 1x on others | Frequent travelers |
| TD First Class Travel® Visa Infinite Card* | $139 | Up to 165,000 TD Rewards Points | 3x on travel, 2x on dining/entertainment, 1x on others | Travelers seeking high rewards |
| Tangerine World Mastercard® | $0 | 10% cash back (up to $100) | 2% in 3 chosen categories, 0.5% on others | Customizable cash back earners |
| Neo Financial Mastercard | $0 | $50 bonus after first purchase | 5% at select retailers, 1% on others | Shoppers at partnered retailers |
| MBNA True Line® Gold Mastercard® | $39 | N/A | Low interest rates (10.99% on purchases and balance transfers) | Balance carriers seeking low interest rates |
| Simplii Financial Cash Back Visa Card | $0 | $50 bonus after first purchase | 4% on dining/entertainment, 1.5% on gas/groceries, 0.5% on others | No-fee cash back seekers |
| American Express® Aeroplan® Reserve Card* | $599 | Up to 85,000 Aeroplan points | 3x on travel, 1.25x on dining, 1x on others | Frequent Air Canada flyers |
Final Thoughts
Selecting the right credit card depends on your individual spending habits and financial goals. Whether you’re looking for high cash back, travel rewards, or low-interest rates, the cards listed above offer a range of benefits to suit various needs. Always consider your personal spending patterns and preferences when choosing a credit card to maximize its value.
For more detailed comparisons and to apply for these credit cards, visit NerdWallet Canada’s Best Rewards Credit Cards.
Frequently Asked Questions (FAQ)
1. What is the best credit card in Canada for 2026?
It depends on your spending habits. For high cash back, the BMO CashBack® World Elite® Mastercard® is excellent. For travel rewards, consider the American Express® Aeroplan® Reserve Card.
2. Which credit card has no annual fee?
Tangerine World Mastercard®, Neo Financial Mastercard, and Simplii Financial Cash Back Visa Card all have no annual fees.
3. Can I earn rewards on everyday purchases?
Yes, most cards offer rewards on groceries, gas, dining, and transit, like the American Express® Cobalt® Card or BMO CashBack® World Elite® Mastercard®.
4. Do these cards offer travel benefits?
Yes. Cards like TD First Class Travel® Visa Infinite® and Scotiabank Passport™ Visa Infinite® provide travel insurance, airport lounge access, and no foreign transaction fees.
5. Which card is best for low interest rates?
The MBNA True Line® Gold Mastercard® is ideal for those carrying balances due to its low interest rate of 10.99%.
