Top 10 Best Credit Cards in Canada 2025 – Rewards & Low Fees

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 2025, several credit cards stand out for their exceptional benefits. Here’s a detailed look at the top ten options available this year.

1. BMO CashBack® World Elite® Mastercard®*

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 2025 – 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 2025?
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%.

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