Metal Credit Card: Benefits and Requirements
Highlights from this article:
Metal credit cards feel sleek in the hand and may be more durable than plastic.
Metal credit cards tend to offer premium benefits in addition to their modern look.
Steep annual income requirements and fees mean metal cards aren't right for everyone.
Functionally, metal cards are no different from regular Canadian credit cards, but their weight and appearance do help them stand out from the crowd.
Metal credit cards are typically made of alloys, such as stainless steel, and may boast useful perks or rewards programs.
Similarly to black credit cards, metal credit cards have an air of exclusivity, and in the past some were only available to select clients with premium banking packages. But these days, there are more than a few metal credit cards accessible to regular folks.
How to get a metal credit card in Canada
If you think a metal credit card could be a good fit for your wallet, consider these steps before applying:
1. Know your metal credit card options
The best metal credit cards in Canada include, but are not limited to the following cards.
CARD NAME | BEST METAL CARD FOR | ANNUAL FEE | INTRO OFFER |
|---|---|---|---|
Best for: Luxurious perks. | $799. | Up to 100,000 Points. | |
Best for: Business owners. | $799. | Up to 120,000 Points. | |
Best overall metal card. | $599. | Up to 85,000 Points. | |
American Express® Aeroplan®* Business Reserve Card. | Best for: Business owners who travel. | $599. | Up to 90,000 Points. |
Best for: Travellers. | $250. | Up to 60,000 Points. | |
CIBC Aventura® Visa Infinite Privilege* Card. | Best for: Aventura rewards. | $499. | Up to 80,000 Points. |
CIBC Aeroplan® Visa Infinite Privilege Card. | Best for: Travel insurance. | $599. | Up to 100,000 Points. |
Best for: Aeroplan rewards. | $599. | Up to 85,000 Points. | |
BMO eclipse Visa Infinite Privilege* Card. | Best for: BMO rewards. | $599. | Up to 200,000 Points. |
2. Understand the eligibility requirements
Eligibility criteria for metal credit cards vary, but in general you must:
Be a Canadian resident with sufficient credit history.
Be the age of majority in your province or territory.
Earn at least $150,000 in individual annual income (or $200,000 per household).
You'll typically need a credit score of at least 660 to qualify for a credit card in Canada, which is considered “fair” to “good” by the major credit bureaus — depending on which one you consult. However, you may need an even better credit score to qualify for a metal credit card since these cards may have higher annual fees and minimum income requirements.
3. Compare features carefully
To choose the optimal metal credit card for your financial situation, compare the following features:
Welcome bonus. Compare welcome offers before you apply for a card. Make sure you understand any spending requirements to earn the bonus points or cash back.
Rewards program. Metal credit cards often allow you to earn some form of rewards, whether it’s points from the issuer or travel miles with an airline loyalty program.
Annual fee. Fees for metal credit cards can range from $250 to $799, while non-metal Canadian credit cards charge an annual fee closer to $120. A higher annual fee may come with better perks, but you’ll need to decide if the added cost is worthwhile.
Eligibility criteria. Metal cards often have higher annual income and credit score requirements than traditional cards. (More on this below.)
Interest rate. All credit cards charge interest, but not all cards carry the same rate. Your metal card’s interest rate will impact how much you owe on outstanding balances, so review your options carefully.
4. Consider the value you'll get out of it
Whether a metal credit card makes sense for you depends on your lifestyle and spending habits. There are certainly valid reasons to have a metal card, such as premium rewards and perks. But getting a card just for its appearance isn’t advisable — think about long term costs as well as benefits.
Best Metal Credit Cards in Canada
Compare the best metal credit cards side-by-side to find the one that will meet your needs with special perks and benefits.
What about getting a custom metal credit card?
Some third-party providers exist that can convert plastic cards into metal ones for a fee. The process usually requires you to choose a design from a provider’s website, mail in your plastic card and then receive the custom metal credit card by mail once the order has been processed.
This may sound appealing, but there are major drawbacks to consider:
🛑 It’s risky to put an active credit card in the mail. Custom card providers typically need your plastic card to complete the conversion process. Sending a debit or credit card by mail is inherently risky and could open you up to identify theft or credit card fraud.
🛑 No tap technology. If you’re a fan of tap and pay, think twice before you order a custom card. Some aren’t equipped to offer this payment method, as it’s difficult for the frequency emitted by EMV chips to transmit through metal.
🛑 Limited card use. Custom metal credit cards may be too stiff or thick for card readers that require full card insertion, which means you may not be able to use your metal card at ATMs or to complete certain transactions.
Frequently asked questions
Which banks offer metal credit cards?
Issuers such as American Express, BMO, CIBC and TD Bank offer metal credit cards.
Can I change my credit card to a metal credit card?
Generally, card issuers and banks do not convert existing plastic cards to metal. But some third-party providers can do it for a fee.
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Shannon Terrell
Shannon Terrell