Whether you’re looking for the most points, best cash back, or even credit cards for people with less than perfect credit, here are some of the top credit card offers in Canada to check out this year.
The Scotiabank Gold AMEX Card gets you 5 Scotia Rewards points for every $1 CAD you spent on eligible purchases, which includes categories for groceries, restaurants, movies, tickets, and food delivery services. It also saves you 2.5% on foreign transaction fees, so you can save big on merchants in the US and otherwise. You can also get 3X points for every $1 CAD spent on gas and transit fees, such as rideshare and mass transit. Finally you earn 1X points for everything else. There is a $120 annual fee, however right now, Scotiabank is offering a 50,000 points sign up bonus, with qualifying spending activities (making at least $1,000 in everyday eligible purchases in your first 3 months to get 30,000 points, and an additional 20,000 points when you spend at least $7,500 in everyday eligible purchases in your first year).
TD / Air Canada
The TD Aeroplan Visa Infinite Card is a great choice if you like to travel. You earn 1.5X points for every $1 CAD you spend on gas, grocery, and Air Canada purchases. You also earn 1X points for all other purchases. And for a limited time, there is also 1.5X points on… Starbucks! The annual fee is $139. Current sign up offers include 25,000 points if you are approved, which is 10,000 points for your first purchase, and another 15,000 points for spending $1000 within 90 days of opening. There are a host of travel related perks with this card, such as free checked bags on Air Canada, as well as a free Uber Pass Membership for 6 months.
The MBNA True Line Gold Mastercard
The MBNA True Line Gold Mastercard has a very low annual fee of just $39. It also has a very low balance transfer interest rate of 8.99% in BC (rates may vary by region). MBNA doubles extended warranties on products for an additional year for most purchases made on your card. You can also save up to 10% off car rentals with Avis and Budget.
The TD Infinite Cash Back Visa allows for a whopping 6% cash back on all purchases for the first three months (up to spend of $2,000). Thereafter, you can earn 3% cash back on eligible grocery and gas purchases, as well as 1% cash back on all other purchases. There are also a host of travel benefits with the card, such as travel medical insurance, as well as Deluxe TD Auto Club membership, which provides roadside assistance. Finally if you use the card when renting a car, it will cover the cost of the Collision/Loss Damage waiver.
The Capitol One Secured Mastercard is a good option if you have less than perfect credit. It has a low $59 annual fee, and can help you to establish or repair your credit. It requires “security funds” of $75 to $300 to be sent in to Capitol One. Capitol One guarantees approval as long as you meet their age conditions, that you provide security funds, that you haven’t applied for an account with them in the last 30 days, and that you do not have an existing or pending application.
This is another good option for someone looking to build or establish credit. Fortiva Credit Card allows you to pre-qualify for up to a $1,000 credit limit if you have less than perfect credit. You can pre-qualify without impacting your score. They also offer cash back rewards of up to 3% with no limits, which is impressive for such a card. Rewards of 3% are offered on eligible gas, grocery, and recurring bill payments, and then 1% cash back on all other purchases.