Best Credit Cards in Canada for November 2025
Choosing the best credit card is part art, part science. Whether you're chasing rewards or cutting costs, no single option works for everyone. That's why our experts compared hundreds of cards across several categories to help narrow down your search.
Compare best credit cards by type:
💰 Best cash-back credit cards in Canada
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The SimplyCash Preferred Card from American Express is a no-nonsense cash-back powerhouse, offering 4% back on groceries and gas and 2% on everything else — the highest base rate among the cards we evaluate. No points to track, no charts to decode — just cold, hard cash back.
Other top cash-back cards to consider:
Want more options? Compare our full list of picks for the best cash-back credit cards.
✈️ Best travel credit cards in Canada
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Think of the Scotiabank Passport® Visa Infinite* Card as the Swiss Army knife of travel cards. As one of the more well-rounded mid-tier travel cards on the market, it does a little bit of everything you’d want a travel card to do. Accelerated, flexible rewards? Check. Travel insurance? Check. Free airport lounge access? Check.
Other top travel cards to consider:
Want more options? Compare our full list of picks for the best travel credit cards.
🏆 Best rewards credit cards in Canada
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The American Express Cobalt Card is a standout for everyday spending — without the premium price tag. It earns 1–5 points per dollar on dining, groceries, streaming, gas and transit, with flexible rewards you can redeem for travel, statement credits or transfer to programs like Aeroplan and Avios. Plus, enjoy perks like mobile device coverage, exclusive hotel benefits and a slew of complimentary travel insurances.
Other top rewards cards to consider:
Want more options? Compare our full list of picks for the best rewards credit cards.
💸 Best no-fee credit cards in Canada
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The Scotiabank American Express® card proves that ‘no annual fee’ doesn’t mean ‘no perks.’ It earns up to 3 Scene+ points per $1 spent and includes valuable extras like mobile device protection, Amex Experiences and car rental discounts. You won’t get airport perks or full travel coverage, but it still packs plenty of brag-worthy benefits for budget-conscious rewards seekers.
Other no-fee cards to consider:
Want more options? Compare our full list of picks for the best no-annual-fee credit cards.
🔄 Best balance transfer credit cards in Canada
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The Scotiabank Value® Visa* Card stands out for its ultra-low rates — starting with a 0% intro rate on balance transfers for 10 months (with a 1% transfer fee). It offers an interest-free runway to gain the debt-repayment momentum needed to lift your balance. Even after the promo ends, its 13.99% rate sits well below the industry standard, though transfers from other Scotiabank accounts don’t qualify.
Other balance transfer cards to consider:
Want more options? Compare our full list of picks for the best balance transfer credit cards.
🎓 Best student credit cards in Canada
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With no annual fee and up to 3x Scene+ points on a wide range of everyday spending categories, even students with small budgets can rack up the rewards. Points can be used to pay down a balance, book travel, buy merch and more. Mobile phone insurance and rental car discounts round out this card as a solid pick for both domestic and international students.
Other student cards to consider:
Want more options? Compare our full list of picks for the best student credit cards.
🌱 Best cards for bad credit in Canada
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With no credit check, 1% cash back on essentials and a minimum deposit of $50, you don’t need a big budget to improve your score. Just keep the $4.99 monthly fee ($59.88 per year) in mind, and pay off your balance in full every month.
Other cards for bad credit to consider:
Want more options? Compare our full list of picks for the best credit cards for bad credit.
Selection Summary: Best Overall Credit Cards in Canada
RBC's most popular Avion card lets you redeem points on flights, car rentals, hotels and more in Canada or abroad. Special offer: get up to 55,000 Avion points (max value of $1,100), or up to 3 round trip flights, with approval and spend. Click 'Apply Now' for details.
Methodology
BACK TO TOPHow Do Credit Cards Work?
BACK TO TOPA credit card is part of daily life for many Canadians. With the best credit cards, you can manage your expenses and earn rewards at the same time. Here's what you should know.
Think of credit cards as a short-term loan from your credit card provider — you make purchases with your card and pay for them later.
Pros:
Convenient and secure payment method.
May earn rewards.
May offer insurance coverage.
Builds credit when used responsibly.
Cons:
A more expensive form of borrowing than a personal loan or line of credit.
May lead to debt.
Harms credit when used irresponsibly.
A typical credit card transaction looks something like this:
When making a purchase, a typical transaction works like this:
You charge a purchase to your card. When making purchases, choose credit as your form of payment. You’ll then tap, insert or swipe your card to initiate the payment. You may also be required to enter your pin number. If you’re making payments online, you’ll need to enter all your card information manually.
Wait for authorization. The payment terminal will contact your credit card company to confirm the purchase amount.
The merchant gets paid. Once approved, your credit card provider sends the merchant the funds. The merchant does pay a small fee to your credit card provider for this service.
You get your bill and make a payment. Once your bill arrives, it’ll list your transactions, minimum payment requirement and due date. If you only make the minimum payment, you may see some interest charges on your next bill. To avoid this extra cost, pay your bill in full by that date so no interest is charged.
Ideally, you’d be able to pay your bill in full each month, so these interest charges would not apply. If you’re worried about your ability to do so, seek out a low-interest card to reduce your financial risk.
How Does Credit Card Interest Work?
BACK TO TOPCredit card companies charge interest on unpaid balances. When you pay your balance in full by the due date, you don’t owe any interest. But if you carry a balance past the grace period, interest starts to accrue — often at a high rate.
Types of credit card interest rates
Most credit cards apply more than one interest rate depending on the type of transaction.
Some transactions start earning interest right away
You’ll typically find these rates listed in your cardholder agreement or your card’s terms and conditions:
Purchase rate: This is the most common rate — it applies to unpaid balances from everyday purchases. In Canada, the average purchase rate is around 20%.
Cash advance rate: This rate applies when you withdraw cash from an ATM using your credit card. It can also apply to gambling transactions, lottery ticket purchases, and wire transfers. Interest typically starts accruing immediately, with no grace period.
Balance transfer rate: If you transfer a balance from one card to another, this is the rate you’ll pay on that transferred amount. Some cards offer introductory 0% rates for a limited time.
Penalty rate: If you miss multiple payments, your issuer may apply a penalty APR — often higher than 25% — to your existing and new purchases for a set period.
What happens if you don’t pay off your credit card balance?
If you don’t pay your credit card balance in full, you’ll be charged interest. The amount depends on three factors:
Your card’s interest rate
Your balance
The number of days in your billing cycle.
Let's break it down with an example:
Say you have a credit card with a 19% interest rate. You made a $1,000 purchase, didn’t pay your balance in full, and your grace period has passed. Let's do the math:
Step 1: Calculate your daily interest rate
Annual rate ÷ 365 = daily rate
19% ÷ 365 = 0.00052 (or 0.052% per day)
Step 2: Calculate daily interest on your balance
0.00052 × $1,000 = $0.52 per day
Step 3: Multiply by days in billing cycle
$0.52 × 30 = $15.60 in interest after one month
That means a $1,000 purchase could cost you $15 in one month — and that's just one month.
If you carry a $1,000 balance for a full year without making any payments, interest doesn’t just add up — it compounds. Even with a 19% annual rate, daily compounding means you’d owe about $209 in interest — increasing your balance by nearly 21%.
That’s how everyday debt quietly turns into long-term cost.
Don’t want to crunch the numbers by hand? Use our credit card interest calculator to plug in your balance, interest rate, and billing cycle. It’ll show you exactly how much interest you’ll owe — and how to avoid it.
How Do Credit Card Rewards Work?
BACK TO TOPTypes of rewards you can earn
Rewards earn rates
Earning and using your rewards
Look for cards with bonus categories that align with your lifestyle — that’s where the real value is.
How to Compare Credit Cards
BACK TO TOPNarrowing down your options can be a challenge, but focusing on these key factors will make the process of comparing a lot easier. Here's what to consider:
Eligibility criteria
Different cards carry different credit score and income requirements. To ensure you meet the eligibility criteria, learn how to check your credit score. And be mindful of personal or household income requirements, too — you’ll often encounter these criteria with high-tier luxury cards.
Annual fee
Decide if you want to pay an annual fee or not. Cards that have an annual fee typically come with better benefits.
Rewards
The type of rewards you want to earn will quickly help you narrow down your choices.
Earn rates
Try to choose a card with increased earn rates in the categories where you naturally spend more.
Welcome bonus
If you’re comparing similar cards, choose the one with a better sign-up offer.
Perks and extras
See if there are any additional benefits you want, such as no foreign transaction fees, travel insurance, extended warranty, etc.
How to Apply for a Credit Card
BACK TO TOPWhen you apply for a credit card, there’s no guarantee you’ll be approved. The credit card provider needs to assess your financial profile to determine if you’re creditworthy.
Here's what to expect when you apply:
1. Fill out an application
This can be done online or at your financial institution. The application will ask for some basic information, such as your name, date of birth, address, social insurance number, employer and income.
2. Your information is checked
The credit card issuer will check your credit history and verify the information that you provided.
3. A decision is made
If you apply online, instant approval (or disapproval) is possible, but there’s also a chance the credit card issuer will ask you to contact them to provide additional information.
4. Your card is mailed out
Your credit card will immediately be mailed out and will typically arrive within 14 business days.
5. Activate your card
Once your card arrives, you’ll need to activate it by logging into your account or calling the number on your card. Once activated, you can use your card to make purchases.
Types of Credit Cards in Canada
BACK TO TOPThere are different types of credit cards in Canada, and each one supports different financial goals. For example, if you pay your balance in full each month, a rewards card may be a good fit. If you’re rebuilding credit or reduce interest, other card types may be a better fit.
Explore the options below to understand what makes sense for your needs.
Good pick for: Earning points, miles or cash back
Cash back cards
You’ll get cash back on every purchase you make. See our picks for the best cash back credit cards in Canada.
General rewards cards
The points you earn can be used for gift cards, merchandise, experiences and sometimes travel. See our picks for the best general rewards credit cards in Canada.
Travel cards
The points you earn can be used for any type of travel redemption. See our picks for the best travel credit cards in Canada.
Airline cards
Co-branded airline rewards can be used on a specific airline and its partners. Examples include:
Hotel cards
Points earned through hotel credit cards can be used at any participating property.
Co-branded store cards
Use the points you’ve earned for groceries, merchandise and more.
"Black cards" and premium options
Despite the name, what unites black credit cards isn’t colour; it’s exclusivity. Black cards are deluxe credit cards — the crème de la crème — typically available by invitation only to high earners and splashy spenders.
The eligibility criteria for a black credit card differs by card provider, but typically, applicants need an excellent credit score and a personal income of at least six figures annually.
Good pick for: Cutting costs while maintaining flexibility
Balance transfer cards
Balance transfer credit cards typically come with a low introductory interest rate. Because of this, you can use them to move your balance from a credit card with a high rate to one with a lower rate, allowing you to pay down debt faster.
Low-interest cards
Low-interest credit cards often have an interest rate of between 9% – 13%. This is significantly lower than standard interest rates, so low-interest credit cards can be helpful for people who may carry a balance.
No-fee cards
No-fee credit cards come with no annual fee. They can be any type of credit card, but often feature rewards or a low interest rate. Some no-fee cards are geared towards students and have easier requirements.
Good pick for: Establishing or repairing credit history
Student credit cards
Student credit cards typically have more relaxed qualification requirements and often charge no annual fee. They’re a good choice for students who may be looking to build their credit or establish good spending habits.
Secured cards
Secured credit cards require a refundable deposit, which usually acts as your credit limit. These cards are designed for people who are building or rebuilding credit, including those recovering from a credit setback or bankruptcy.
Secured card activity is reported to Canadian credit bureaus, which can help improve your credit score over time.
Prepaid cards
Prepaid credit cards are like debit cards: cardholders can only spend up to the amount they’ve deposited to the card. These cards don’t charge interest because cardholders don’t borrow money — they spend their own funds.
Prepaid credit card activity isn’t typically reported to Canadian credit bureaus, so using one won’t impact your credit score.
Good pick for: Managing business expenses and earning business rewards
Business credit cards
Business credit cards typically offer accelerated rewards rates on business spending. Merchants may also appreciate common business credit card perks, like higher credit limits and supplementary cards for employee use.
Frequently asked questions
What credit cards are the most accepted in Canada?
What credit cards are the most accepted in Canada?
Mastercard and Visa credit cards are the most accepted cards in Canada, although one major retailer doesn’t take Visa: Costco.
If you carry an American Express card, you may want a backup form of payment — it may be less frequently accepted in Canada.
What’s better, a Mastercard or Visa?
What’s better, a Mastercard or Visa?
It’s hard to declare a winner between Mastercard and Visa because these payment giants are credit card networks — not credit card issuers. Mastercard and Visa are among the most popular and well-established credit card processing networks in the world and share a lot in common. They’re both widely accepted and process billions of transaction dollars annually.
Mastercard and Visa predominantly work behind the scenes. They partner with card issuers, like banks and credit unions, to offer cards to the public. Eligibility requirements, rewards, and signup bonuses are all determined by card issuers.
Can Americans get a Canadian credit card?
Can Americans get a Canadian credit card?
Yes. Several Canadian banks offer non-resident and newcomer credit cards, including RBC, Scotiabank, TD, and more. These card programs are designed for newcomers and temporary residents and typically don’t require a credit check.
US citizens can also explore secured or prepaid credit card options. These Canadian credit cards require cash deposits before they can be used and can be a practical option for those paying a visit to the Great White North.
What credit score is needed for a credit card?
What credit score is needed for a credit card?
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
What is the best credit score in Canada?
What is the best credit score in Canada?
Credit scores in Canada range from 300 to 900. Generally, Canadian credit scores can be organized into the following categories:
Poor: 300 – 579.
Fair: 580 – 659.
Good: 660 – 739.
Very Good: 740 – 799.
Excellent: 800+.
How many credit cards should I have?
How many credit cards should I have?
The number of credit cards that’s right for you will depend on your spending habits, credit score and personal preferences.
There are benefits and drawbacks to carrying two or more credit cards. A few things to keep in mind:
Applying for a new Canadian credit card requires a hard credit check, which will likely drop your credit score by a few points.
Holding more than one credit card may improve your credit score if you use your cards responsibly.
Carrying more than one card means you’ll have access to multiple credit sources, which could lead to an increased risk of debt.
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Shannon Terrell
Shannon Terrell