Best Rewards Credit Cards in Canada
Rewards credit cards are not all solving the same problem. Some help you earn more from groceries, dining, gas and recurring bills. Some make rewards easy to use for everyday costs. Others are better if you want travel value without committing to one airline or redemption strategy.
The right card depends less on which welcome offer looks biggest and more on how you plan to use the rewards after you earn them.
Summary: Best rewards credit cards in Canada
BACK TO TOP| Card | NerdWallet rating | Rewards rate | Apply Now |
|---|---|---|---|
| RBC Avion Visa Infinite | APPLY NOW on RBC's website | ||
 APPLY NOW on RBC's website | 4.9/5 | 1x-1.25x Points | |
| American Express Cobalt® Card | APPLY NOW on American Express' website | ||
 APPLY NOW on American Express' website | 5.0/5 | 1x-5x Points | |
| Scotiabank Gold American Express® Card | APPLY NOW on Scotiabank's website | ||
 APPLY NOW on Scotiabank's website | 5.0/5 | 1x-6x Points | |
Browse by goal
BACK TO TOPThe best rewards card is the one that matches what you want points to do. Start with the goal that sounds most like you, then compare the cards in that section.
Looking for... | Start here | Cards to compare |
|---|---|---|
More points on regular spending | Earn more on everyday spending | American Express Cobalt, MBNA Rewards World Elite Mastercard, BMO eclipse Visa Infinite, RBC ION+ Visa, CIBC Adapta Mastercard |
Rewards that are easy to use | Get easy everyday value | Scotiabank Gold American Express, Scotiabank American Express, PC World Elite Mastercard, Tangerine Money-Back World Mastercard, BMO Blue Rewards World Elite Mastercard |
Travel rewards without airline loyalty | Keep travel options open | RBC Avion Visa Infinite, TD First Class Travel Visa Infinite, Scotiabank Passport Visa Infinite+, CIBC Aventura Visa Infinite |
Best rewards cards for everyday spending
BACK TO TOPThese cards are strongest for common repeat purchases like groceries, dining, gas, transit, streaming, utilities or subscriptions.
Rewards breakdown
Rewards breakdownPoints on eligible eats and drinks in Canada, including groceries and food delivery.* Spend cap applies.
Points on eligible streaming subscriptions in Canada.
Points on eligible ride shares, transit & gas in Canada.
Point for every $1 in Card purchases everywhere else.
Additional point on eligible hotel and car rental bookings via American Express Travel Online.
NerdWallet's take
NerdWallet's takeA standout everyday earner with up to 5x points on a spectrum of everyday spending categories, including eats and drinks, streaming services, gas and more. Unusually robust travel insurance for a mid-tier card makes it a decent travel companion, too. Best for: Those who spend big on groceries, entertainment or transit and want a flexible rewards program.
Pros
- Includes 10 forms of insurance.
- Points can be transferred to other rewards programs, including Aeroplan and Marriott Bonvoy.
- Up to $60 in Instacart statement credits.
Cons
- No lounge access.
- The 5x earn rate is capped at $2,500 monthly — purchases above the cap drop to 1x.
Card details
Card details- In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets.
- Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
- Earn 3x the points on eligible streaming subscriptions in Canada.
- Earn 2X the points on eligible ride shares, transit & gas in Canada.
- Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online.
- Earn 1X point for every $1 in Card purchases everywhere else.
- Enjoy access to hotel bookings, a room upgrade (when available), 12pm check-in and late check-out (when available), and up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel
- Transfer points 1:1 to several frequent flyer and other loyalty programs.
- Access Front Of The Line® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex Experiences™
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
Rewards breakdown
Rewards breakdownPoints‡ for every $1 spent on eligible restaurant purchases.
Points‡ for every $1 spent on eligible grocery purchases.
Points‡ for every $1 spent on eligible digital media purchases.
Points‡ for every $1 spent on eligible membership purchases.
Points‡ for every $1 spent on eligible household utility purchases.
Point‡ for every $1 spent on all other eligible purchases.
NerdWallet's take
NerdWallet's takeThis card offers a flexible reward program and decent travel perks. Get up to 5x the points on everyday purchases, which can be redeemed for a range of products and services, from cash back to travel bookings. But the $80,000 minimum income requirement may be too high for some users. Best for: Big spenders on everyday essentials with busy travel schedules.
Pros
- High 5x earn rate on everyday expenses.
- Decent range of travel insurance.
- A minimum of 5% off rental car bookings at Avis and Budget.
Cons
- Steep $80,000 income requirements for individuals, or $150,000 per household.
Card details
Card details- 20,000 bonus points†† (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days of your account opening.
- 10,000 bonus points††(approximately $80 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening.
- Earn 5 points‡ for every $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $50,000 is spent annually in the applicable category. 1 point‡ for every $1 on all other eligible purchases.
- Each year, you will receive Birthday Bonus Points‡ equal to 10% of the total number of Points the Account earned in the 12 months before the month of your birthday, to a maximum Birthday Bonus each year of 15,000 Points.
- Redeem points‡ for cash back, brand-name merchandise, gift cards from participating retailers, charitable donations, and travel.
- Standard Annual Interest Rates of 21.99% on purchases, 22.99% on balance transfers✪, and 22.99% on cash advances.
- Mobile Device Insurance*** With Mobile Device Insurance, you’ve got up to $1,000 in coverage for eligible mobile devices in the event of loss, theft, accidental damage or mechanical breakdown.
- $120 annual fee. $50 Additional Card Annual Fee for one authorized user (if you have one).
- To qualify, your personal annual income must be greater than $80,000, or your household annual income must be $150,000 or greater††††.
- ††, ‡, ✪, ***, ††††, Terms and Conditions apply.
- This offer is not available for residents of Quebec.
- Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the "Apply Now" button.
Rewards breakdown
Rewards breakdownPoints on groceries.
Points on dining.
Points on gas.
Points on transit.
Point for every $1 spent on everything else.
NerdWallet's take
NerdWallet's takeBuilt for everyday spending, this mid-tier points card boasts a competitive 5x earn rate on popular spending categories and point-boost incentives for adding an authorized user. But its limited travel insurance may disappoint frequent jetsetters. Best for: Shoppers who spend big on food and commuting.
Pros
- $50 statement credit annually.
- Earn up to 10% more points when you add an authorized user to your account.
Cons
- Limited travel insurance.
- No airport perks.
Card details
Card details- Get up to $1,150 in value including up to 70,000 Bonus points, monthly streaming statement credit, $50 statement credit, and no annual fee in your first year.*
- Earn 5x the BMO Rewards points on groceries, dining, gas and transit.*
- Get 1 BMO Reward for every $1 spent on everything else.*
- Get a $50 annual lifestyle credit to spend however you want.*
- Mobile Device Insurance that covers you for up to $1,000.*
- Earn 10% more points when you add an authorized user to your account.*
- Pay with Points by browsing your recent transactions & redeem your points for as little as $1.
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- *Terms and conditions apply.
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.
Rewards breakdown
Rewards breakdownPoints on groceries.
Points on dining & food delivery.
Points gas & electric vehicle charging.
Points on rideshare.
Points on daily public transit.
Points on all other qualifying purchases.
NerdWallet's take
NerdWallet's takeA solid, low-fee everyday earner with rewards rates that top out at 3x Avion points per dollar spent. Practical perks include fuel discounts and no annual fees for students, but insurance offerings are limited. Best for: Students and everyday shoppers seeking rewards on groceries, gas, entertainment and rideshares.
Pros
- Low $48 monthly fee.
- Fuel discounts of 3 cents per litre at Petro-Canada.
- Annual fee rebates for RBC Advantage Banking Account for Students account holders.
Cons
- Limited insurance coverage.
Card details
Card details- Get up to 28,000 Avion points^ - that's up to $200 of value in gift cards†! Apply by November 4, 2026.
- Earn 3X Avion points for every $1 spent¹ on:
- Grocery, Dining & Food Delivery - Satisfy your taste buds by earning points on groceries, dining out, food delivery.ⁱ
- Rides, Gas & EV Charging – Enjoy earning points on gas, rideshare, daily public transit, electric vehicle charging.ⁱⁱ
- Streaming, Digital Gaming & Subscriptions– Stay entertained while earning points on streaming, gaming, eligible digital subscriptions, eligible digital downloads, and in-game purchases.ⁱⁱⁱ
- Earn 1 Avion point for every $1 spent on all other qualifying purchases.¹
- Annual Fee $48.
- Pay With Points – Redeem your Avion points to pay bills, your credit card balance or even send money to friends with Interac e-Transfer⁴. Minimum redemption is only $10, so you can use your points where you need them most.
- Save at Petro-Canada – Save 3¢/L on fuel and earn 20% more Petro-Points and 20% more Avion points when you pay with a linked RBC card.⁴
- Earn more Be Well points at Rexall – Earn 50 Be Well™ points for every $1 spent on eligible purchases at Rexall when you pay with your linked RBC card and scan your Be Well card.⁵
- Add your credit card to your DoorDash account and get a 6-month complimentary DashPass subscription⁶
- Earn Moi points at Metro - earn 1 extra Moi point for every $2 spent at Metro, Food Basics, Super C, Jean Coutu, Brunet and Première Moisson when you swipe your Moi Rewards card and pay with your linked RBC card (minimum purchase required)⁸
- When you shop at Metro, Food Basics or Super C, and spend at least $60, you’ll get 1 additional Moi point for every 2 dollars you spend. When you shop at Brunet or Jean Coutu and spend at least $40 you’ll get 1 extra Moi point for every 2 dollars spent and when you shop at Premiere Moisson, and spend at least $20, you’ll get 1 extra Moi point for every 2 dollars spent.
- Students or Anyone 24 and Younger Receive an Annual Fee Rebate – Get the annual fee rebated every month if you open an RBC Advantage™ Banking Account for Students⁷.
- Mobile Device Insurance³ Included – Get 2 years of coverage up to $1,000 in the event your mobile device such as your cell phone is lost, stolen, accidentally damaged or experiences mechanical failure when you purchase your mobile device with this credit card.
- Purchase Security and Extended Warranty Insurance³ – Automatically protects eligible card purchases against loss, theft or damage within 90 days of purchase, and doubles the manufacturer's original Canadian warranty by up to one additional year, to a maximum of five years.
- Corresponding legal references and product terms are available on the RBC website, which will be available and agreed upon in the customer onboarding process.
- ^ This offer only applies to new applications for an RBC ION+ Visa credit card received between June 16, 2026 and November 4, 2026 (“Offer Period”) and approved by Royal Bank of Canada (“Royal Bank”), subject to the conditions below. Additional cardholders(s) (co-applicant and authorized user(s)) on the RBC ION+ Visa credit card account, as well as existing cardholders on any RBC Royal Bank personal credit card transferring to an RBC ION+ Visa credit card during the Offer Period, are not eligible for this offer. 7,000 Avion points (“Welcome Points”) will appear on your monthly credit card statement within sixty (60) days after your application has been approved, provided that your RBC ION+ Visa credit card account (“Credit Card Account”) remains open and in good standing at the time the Welcome points are credited to your account, “good standing” meaning that your Credit Card Account must not be past due for more than two (2) consecutive credit card account statement periods, closed, charged off or in credit revoked status. 14,000 additional Avion points (“Additional Points”) will be awarded to you if a total of $1,500 or more (“Qualifying Transaction Amount”) in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) are posted to your RBC ION+ Visa credit card account within the first 6 months from the date of your credit card account open date (“Period”), provided your account is open and in good standing at the time the Additional Points are posted to your Credit Card Account, approximately 60 days after you reached the Qualifying Transaction Amount. Qualifying Transactions exclude cash advances (including balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges, and fees. Any credits for returns and adjustments that reduce the amount of Qualifying Transactions below $1,500 will cancel your Additional Avion points. The Qualifying Transaction Amount is based on the transaction posting date of each Qualifying Transaction, not the transaction date. This means that transactions that take place prior to the last day of the Period will not be considered for the Qualifying Transaction Amount if they have not yet been posted or processed by the merchant, the payment network (Visa) or Royal Bank by the last day of the Period. 7,000 additional Avion points (“Anniversary Points”) will appear on your monthly credit card statement within twelve (12) to sixteen (16) weeks after the one- year anniversary of your Credit Card Account opening, provided that your Credit Card Account remains open and in good standing at the time the Anniversary Points are credited to your account. If you close or change your RBC ION Visa credit card for another type of RBC Royal Bank credit card before the Welcome Points, the Additional Points and/or the Anniversary Points have been credited to your account, you may lose the benefit of this offer. This offer may not be combined or used in conjunction with any other offer. Royal Bank reserves the right to cancel, modify or withdraw this offer at any time without notice, even after your application has been approved, including if we suspect that you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by Royal Bank in its sole discretion. For complete terms and conditions that apply to the Avion Rewards Program, please visit www.avionrewards.com or call 1-800-769-2512.
- † To get $200 worth of gift cards/certificates, you will need a total of 28,000 Avion points. Minimum redemption of 1,400 Avion points for most $10 gift cards/certificates. Some exceptions apply. Point redemption values may fluctuate. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, as well as for current point redemption values, please visit https://www.avionrewards.com/terms-and-conditions.html or call 1-800-769-2512.
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeWith no annual fee and an intuitive rewards program, the CIBC Adapta Mastercard is a practical choice for cardholders with fluctuating spending habits. Adapta points can be redeemed for cashback, but when compared to other no-fee cash-back options, this card’s 1% cash-back rate isn’t hugely competitive. Best for: Those who want a no-fee, set-and-forget earn structure with straightforward, cash-style redemptions.
Pros
- No annual fee.
- Flexible earn rates that are automatically applied to your top spending categories monthly.
Cons
- Less competitive earn rates than other no-fee cashback cards.
Card details
Card details- Welcome Offer: Join and get up to $200 in value† with no annual fee.† Here’s how it adds up–
- Receive a Welcome Bonus of 3,000 Adapta points after your first purchase (up to $25 value)†
- Get 3,000 Adapta points when you spend $1,000 in the first 4 monthly statement periods (up to $25 value)†
- As an eligible CIBC Cardholder, take advantage of a free Skip+ membership (first year value of $110)†
- Includes membership to Roadside Assistance† after you make your first purchase. Services include battery boosting, gas delivery, towing and more, offered by Dominion Automobile Association ($50 value)†
- How do Adapta points work? Each month, you’ll automatically earn–
- 1.5 Adapta points for every dollar you spend in your top 3 spend categories.†
- 2 Adapta points for every dollar you spend on eligible travel purchases made through CIBC by Expedia†; or
- 1 Adapta point for every dollar you spend on all other purchases.†
- What are Adapta points worth? 1,500 Adapta points are worth $10 when redeemed towards your credit card balance or a recent purchase.† 1,200 Adapta points are worth $10 when redeemed towards select CIBC financial products.†
- Get a free Skip+ membership when you link your eligible CIBC credit card. Plus, enjoy $0 delivery fees and earn a $10 monthly voucher.†
- Fuel up for less - Link your card with Journie Rewards to save up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Adapta card within the last 12 months.†
Best rewards cards for easy everyday value
BACK TO TOPThese cards are best if you want rewards that feel useful without a complicated travel strategy. Think groceries, statement credits, retail savings, movies, gift cards, partner redemptions or simple travel redemptions.
Rewards breakdown
Rewards breakdownPoints on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more.
Points for every $1 you spend on dining & food delivery. Includes popular food delivery and food subscriptions.
Points for every $1 you spend at other eligible grocery stores.
Points for every $1 you spend in Canada on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
Points for every $1 CAD you spend in Canada on eligible gas purchases.
Points for every $1 CAD you spend in Canada on eligible daily transit options. Includes rideshares, buses, subway, taxis and more.
Points for every $1 CAD you spend in Canada on eligible select streaming services.
Point for every $1 spent on all other eligible everyday purchases.
NerdWallet's take
NerdWallet's takeA well-rounded rewards earner that stands out for its top-tier rates in popular categories, like groceries and entertainment spending. Its waived foreign exchange fees and travel insurance will appeal to travellers, but there’s no complimentary airport lounge access, just discounted membership to Priority Pass. Best for: Travellers and families who spend big on groceries, restaurants and commuting and want to collect Scene+ points.
Pros
- Generous rewards rates of up to 6x Scene+ points.
- No FX fees.
- Priority Pass airport lounge membership discount.
Cons
- No complimentary airport lounge access.
- Highest earn rate only applies to dollars spent at Sobeys and its subsidiary stores.
Card details
Card details- Earn up to $950 in welcome offers, first year rewards and savings value and up to 50,000 bonus Scene+ points.¹
- Earn 6x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points¹ for every $1 you spend in Canada eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia.
- No Foreign Transaction Fee
- Comprehensive Travel Insurance coverage
- AMEX Offers®
- AMEX Front of the Line®
- American Express Invites®
- Complimentary Concierge Services
- Rates, fees and other information are effective as of July 2, 2026. Subject to change.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Rewards breakdown
Rewards breakdownPoints on every $1 you spend at Sobeys, Safeway, Freshco and more.
Points for every $1 you spend on restaurants, fast food, drinking establishments. Includes popular food delivery and food subscriptions.
Points for every $1 you spend on eligible grocery stores.
Points for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
Points for every $1 you spend on eligible gas.
Points for every $1 you spend eligible daily transit. Includes rideshares, buses, subway, taxis and more.
Points for every $1 you spend on eligible select streaming services.
Point for every $1 spent on all other eligible everyday purchases.
NerdWallet's take
NerdWallet's takeThe Scotiabank American Express Card offers solid Scene+ point rewards on everyday purchases like groceries and dining — all with no annual fee and a few built-in perks.
Pros
- Great earn rates on everyday purchases.
- Includes mobile device insurance.
- Enjoy special offers, experiences and more with American Express Invites.
Cons
- Limited insurance — only includes mobile device coverage, purchase security, and extended warranty.
- No Amex Membership Rewards — only earns Scene+ points, which have limited redemption options and can’t be transferred to airline or hotel programs.
Card details
Card details- Earn up to 10,000 bonus Scene+ points within your first 3 months (that’s up to $100 towards travel).¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco and more
- Earn 2x Scene+ points¹ for every $1 you spend on restaurants, fast food, drinking establishments and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 2x Scene+ points¹ for every $1 you spend on eligible entertainment purchases. Includes movies, theatre and ticket agencies stores.
- Earn 2x Scene+ points¹ for every $1 you spend on eligible gas and daily transit. Includes rideshares, buses, subway, taxis and more
- Earn 2x Scene+ points¹ for every $1 you spend on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia.
- Mobile Device Insurance coverage
- American Express Invites®
- Rates, fees and other information are effective as of May 1, 2026. Subject to change.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Rewards breakdown
Rewards breakdownPoints per $1 at Shoppers Drug Mart and Pharmaprix stores.
Points per $1 at Loblaw-affiliated grocery stores.
Points per litre at Esso and Mobil gas stations.
Points per $1 every else.
NerdWallet's take
NerdWallet's takeThis co-branded card generously rewards Loblaw shoppers with up to 4.5% back on everyday spending categories, like gas, groceries and drugstore purchases. That said, points are only redeemable at Loblaw stores, and steep income criteria limits this card’s accessibility. Best for: High-income earners who frequently shop Loblaw-affiliated stores.
Pros
- No annual fee.
- Up to 4.5% back in everyday spending.
- Some travel insurance.
Cons
- High $80,000 individual or $150,000 household annual income requirement.
- Highest earn rate limited to drugstore spending.
- Points only redeemable at participating Loblaw-owned stores, Shoppers Drug Mart/Pharmapix, and Esso gas stations.
Card details
Card details- 45x PC Optimum points per dollar on Shoppers Drug Mart purchases.
- 30x PC Optimum points per dollar on Loblaw-brand grocery store purchases.
- 30x PC Optimum points per dollar per litre of gas purchased at Esso Mobil.
- 10x PC Optimum points per dollar on all other purchases.
- Redeem a minimum of 10,000 points for free products and groceries at participating stores (in person and online).
- No annual fee.
- 24/7 concierge service to make dinner reservations, reserve event tickets, deliver gifts and more.
- Access to identity theft services to help you avoid identity theft or restore your identity if stolen.
- Four types of insurance provided, including 10-day travel medical benefits for those under age 65.
- Preferred rates: 20.97% for purchases, 21.97% for cash advances.
- To be eligible, $80,000 (individual) or $150,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
Rewards breakdown
Rewards breakdownCash back in two 2% categories of your choice.
Cash back on all your other everyday purchases.
NerdWallet's take
NerdWallet's takeYou can earn unlimited 2% cash back in up to three categories of your choice, making it one of the more flexible cash-back programs in Canada. The card comes with more perks than the Money-Back version — mobile phone and rental car coverage, as well as discounted airport lounge access and a complimentary data roaming plan with Flexiroam. But the $50,000 minimum income requirements may be restrictive for some users. Best for: Travellers who spend big in unique categories and want a flexible cash-back program.
Pros
- No annual fee.
- Choose the 2% cash-back categories based on your spending.
- Mobile phone and rental car insurance.
Cons
- Must have a Tangerine savings account to unlock 3rd cash-back category.
Card details
Card details- Get $100 with a Money-Back World Mastercard®* Spend $1,500 in your first 3 months to enjoy this Bonus. It’s the no annual fee Credit Card with the most cash back categories to choose from ††. Offer Expires September 30, 2026.
- Two Categories – 2% Money-Back Rewards on purchases in two categories of your choice. OR Three categories Deposit your Rewards into a Tangerine Savings Account and get a third 2% Money-Back category. 13 Categories to explore – Groceries, gas, and beyond, choose from 13 categories to suit your spending. And change them up every 90 days to match your purchases.◊
- 0.5% on everything else.
- With Mastercard Travel Rewards, you can unlock cashback offers and get a rebate applied directly to your statement, by using your Tangerine® Money-Back World Mastercard®* at select merchants that accept Mastercard while travelling outside of Canada.
- Save on the things you love with your Tangerine® Money-Back World Mastercard®*. Enjoy special benefits and offers from a growing lineup of on-demand apps and subscription services made available to you as a Tangerine® Money-Back World Mastercard®* cardholder.
- Make the most of your travel with Mastercard® Travel Pass Provided by DragonPass. Your complimentary membership gives you exclusive dining, retail and spa offers in over 650 airports worldwide, along with access to over 1,300 airport lounges at $32 USD per visit. Learn more at Mastercard® Travel Pass.
- Rental Car Collision/Loss Damage Insurance**: Damage and theft protection for your car rental when you rent for up to 31 consecutive days and charge the full cost of your rental to your Card.
- Mobile Device Insurance**: Protection on new cell phones, smartphones or tablets when you charge the full cost to your Card, or when you purchase it through a plan and charge all of your wireless bill payments to your Card. Covers up to $1,000 if your mobile device is lost, stolen, accidentally damaged or experiences mechanical failure.
- Preferred rates: 20.95% for purchases, 22.95% for cash advances (including balance transfers).
- To be eligible, a $50,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
Rewards breakdown
Rewards breakdownPoints for every $1 spent at participating Blue Rewards Partners*.
Points for every $1 spent on groceries, gas, electric vehicle charging, wholesale and alcohol purchases*.
Point for every $1 spent on everything else*.
NerdWallet's take
NerdWallet's takeBMO steps into its Blue Rewards era in style, offering a premium card whose value exceeds its modest annual fee. Lounge access, free roadside assistance and some appetizing bonus earn rates make the BMO Blue Rewards World Elite Mastercard worth a close look. Best for: Travellers who will make use of the card’s free lounge access, auto perks, insurance coverage and bonus earn rates on travel purchases.
Pros
- Mastercard Travel Pass membership, with 4 free DragonPass airport lounge passes per year.
- Earn 10 Blue Miles per dollar spent on select purchases.
- Auto perks, including roadside assistance and car rental insurance.
Cons
- Minimum income requirements may be too high for the average applicant.
- Bonus earn rate purchases are capped at $1,000 per month.
- Non-travel benefits are somewhat limited.
Card details
Card details- Welcome Offer: Get up to $1,600 in value and the annual fees waived in the first year*. Plus, get a 0% introductory interest rate on balance transfers for 12 months with a 2% transfer fee*.
- Earn 10 Points for every $1 spent at participating Blue Rewards Partners*. Earn 2 Points for every $1 spent on groceries, gas, electric vehicle charging, wholesale and alcohol purchases*. Earn 1 Point for every $1 spent on everything else*.
- $200 NEXUS Statement Credit in your first year*
- Airport lounge access with complimentary membership in Mastercard Travel Pass provided by DragonPass, plus 4 free passes per calendar year.*
- Earn additional Points on top of your credit card Points when you use your physical or digital Blue Rewards Member Card at checkout*
- Get the $150 annual fee rebated annually with our BMO Premium Chequing Account*
- Unlock exclusive offers at top brands through Blue Rewards offers
- Out-of-province/out-of-country emergency medical insurance up to $5 million per insured person, per trip - up to 15 consecutive days.*
- Get up to 15% off a Global Data Roaming plan and up to 3GB of data without any additional charges with FlexiRoam.*
- Save up to 20% on National Car Rental®†† and Alamo Rent A Car®†† and up to 5% on Enterprise Rent-A-Car®†† at locations worldwide using the Car Rental Booking tool.* Plus car rental collision/loss damage insurance*
- Complimentary Roadside Assistance Program*; Including battery boosts, flat-tire change, lockout service and towing.*
- Get 20% off admission to Cirque du Soleil shows in Canada, and 15% off resident shows in Las Vegas*
- Extended warranty and purchase protection*
- Enjoy six months of Instacart+ and a $10 monthly Instacart credit when you enroll your eligible BMO Credit Card.*
- BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information
- *Terms and conditions apply.
Best rewards cards for travel flexibility
BACK TO TOPThese cards are best if you want travel rewards, but are not necessarily loyal to one airline.
Rewards breakdown
Rewards breakdownPoints on eligible travel-related purchases.
Points on everything else.
NerdWallet's take
NerdWallet's takeThe RBC Avion Visa Infinite simplifies reward accrual with 1 Avion point per $1 spent and boosted rates of 1.25x on travel purchases. A broad swath of insurance coverage, paired with value-adding extras like gas, car rental and food delivery discounts, makes this a well-rounded card for travellers. Best for: Travellers who want flexible rewards points and built-in travel protections.
Pros
- Car rental discounts of up to 20% at Hertz.
- Fuel discounts of 3 cents per litre at Petro-Canada.
Cons
- No airport lounge access.
- Highest earn rate only applies to travel spending.
Card details
Card details- Get up to 55,000 Avion points¹, (max travel value of $1,100†), that’s up to3 short haul round trip flights. Apply by August 12, 2026.
- Earn 1.25 Avion points on travel related purchases.¹² Earn 1 Avion point on all other eligible purchases.²
- Use your Avion points to book any flight, anytime, on over 500 airlines. No blackouts or seat restrictions, even during peak season†!
- Avion Visa Infinite Cardholders earn points that never expire so your points will be waiting for your next adventure.
- Redeem your points for travel and more. Use points for anything from paying bills and paying your card balance to redeeming for Gift Cards and Merchandise at top brands like Apple. The Avion Rewards program gives you the freedom of choice to use your points your way, and helps you make the most as an Avion Visa Infinite Cardholder.
- Eligible Avion Rewards members can also convert points to other loyalty programs including WestJet dollars, British Airways Avios points and Hudson’s Bay Rewards points.
- Link your RBC card with a Petro-Points membership to instantly save 3₵ per litre on fuel⁴ at Petro-Canada stations and earn 20% more Petro-Points⁵ and 20% more Avion points⁶.
- Link your RBC card with a Rexall Be Well account and get 50 Be Wellᵀᴹ points for every $1 spent on eligible products at Rexall¹³. Redeem Be Well points faster for savings in store on eligible purchases where 25,000 Be Well points = $10.
- Get access to RBC offers which provides access to earn points faster at specified brands.
- Extensive insurance⁷ including: mobile device insurance, travel insurance (trip cancellation, interruption and emergency medical) and other eligible purchases to protect you and your family.
- Avion Visa Infinite Cardholders get access to luxury Visa Infinite benefits including first in line for exclusive events, and hotel and dining benefits.
- Avion Visa Infinite Cardholders no longer need 14-days to book travel using the RBC grid.
- Add your credit card to your DoorDash account and get a free 12 monthly DashPass subscription¹⁶
- Enjoy unlimited deliveries with $0 delivery fees on orders of $15 or more when you pay with your eligible RBC credit card.
- Corresponding legal references and product terms are available on the RBC website, which will be available and agreed upon in the customer onboarding process.
- ¹ This offer only applies to new applications for an RBC Avion Visa Infinite or RBC Avion Visa Platinum credit card (each, an “Eligible Credit Card”) received between “July 16, 2026” and “August 12, 2026” (“Offer Period”) and approved by Royal Bank of Canada (“Royal Bank”) subject to the conditions below. Additional cardholders(s) (co-applicant and authorized user(s)) on the Eligible Credit Card account, as well as existing cardholders on any RBC Royal Bank personal credit card account transferring to an Eligible Credit Card account during the Offer Period, are not eligible for the offer. 35,000 welcome Avion points (“Welcome Points”) will appear on your monthly credit card statement within sixty (60) days after your application has been approved, provided that your Eligible Credit Card account remains open and in good standing at the time the Welcome points are credited to your account, “good standing” meaning that your Eligible Credit Card account must not be past due for more than two (2) consecutive credit card account statement periods, closed, charged off or in credit revoked status. You will receive 20,000 bonus Avion points (“Bonus Points”) if a total of $5,000 or more (“Qualifying Transaction Amount”) in qualifying net purchases and/or pre-authorized bill payment transactions (“Qualifying Transactions”) are posted to your Eligible Credit Card account within the first six (6) months from your Eligible Credit Card account opening date (“Period”). The Bonus Points will appear on your monthly credit card statement within sixty days (60) after you reach $5,000 in Qualifying Transactions, provided your Eligible Credit Card account remains open and in good standing at the time the Bonus Points are credited to your account. Qualifying Transactions exclude cash advances (including balance transfers, cash-like transactions and bill payments that are not pre-authorized charges that you set up with a merchant), interest charges and fees. Credits for returns and adjustments posted to your Eligible Credit Card account during the Period will reduce the amount of your Qualifying Transactions. The Qualifying Transaction Amount is based on the transaction posting date of each Qualifying Transaction, not the transaction date. This means that transactions that take place prior to the last day of the Period will not be considered for the Qualifying Transaction Amount if they have not yet been posted or processed by the merchant, the payment network (Visa) or Royal Bank by the last day of the Period. If you close or change your Eligible Credit Card for another type of RBC Royal Bank credit card before the Welcome Points and/or the Bonus Points have been credited to your account, you may lose the benefit of this offer. This offer may not be combined or used in conjunction with any other offer. Royal Bank reserves the right to cancel, modify or withdraw this offer at any time without notice, even after your application has been approved, including if we suspect that you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by Royal Bank in its sole discretion. For complete terms and conditions that apply to the Avion Rewards Program, please visit www.avionrewards.com or call 1-800-769-2512.
- ^ Based on the Air Travel Reward redemptions from the Air Travel Redemption Schedule starting at 15,000 Avion points for a round trip within or to an adjacent Canadian province/territory or U.S State with a maximum ticket price of $350. You will need a minimum of 45,000 Avion Points for three round-trips within or to an adjacent Canadian province/territory or U.S State. All applicable taxes, service fees and surcharges are the responsibility of the traveller. For more details, including information on redeeming for first class and business class seats, please visit: www.avionrewards.com/travel/index.html. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, please visit: www.avionrewards.com or call 1-800 ROYAL 1-2 (1-800-769-2512).
Rewards breakdown
Rewards breakdownPoints for every $1 you spend when you book travel through Expedia® For TD†.
Points for every $1 you spend on Groceries, Dining, and Public Transit†.
Points for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media†.
Points for every $1 you spend on other Purchases made using your Card†.
NerdWallet's take
NerdWallet's takeAvid Expedia users will get the most out of this card, with its top earn rate (8x TD points) on bookings made through the travel platform. An annual travel credit, airport lounge access and insurances round out this card as a solid pick for jetsetters. But the $139 may be too steep for some, and if you don’t use Expedia, the rewards may not be as fruitful. Best for: Frequent travellers and Expedia surfers who spend big on groceries, dining, and transit.
Pros
- $100 travel credit, annually.
- Airport lounge access and four free passes.
- Comprehensive travel insurance.
Cons
- Higher than average $139 annual fee for points card.
- Top earn rate (8x points) only applies to Expedia bookings.
Card details
Card details- Earn up to $1,300 in value†, including up to 146,000 TD Rewards Points, receive an Annual Fee rebate for the first year† and additional travel benefits. Conditions Apply.
- Earn a welcome Bonus of 20,000 TD Rewards Points when you make your first Purchase with your Card†.
- Earn 126,000 TD Rewards Points when you spend $7,500 within 180 days of Account opening†.
- Get an Annual Fee Rebate for the first year†.
- Get an annual TD Travel Credit† of $100 when you book at Expedia® For TD.
- Earn a Birthday Bonus of up to 10,000 TD Rewards points†.
- Enjoy your time at the airport with global airport lounge access and 4 complimentary lounge visits with Visa Airport Companion Program (a value of up to $277)*.
- To receive the first-year annual fee rebate for the Primary Cardholder, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening. To receive the Additional Cardholder(s) first-year annual fee rebate, you must add your Additional Cardholder(s) while the offer is in effect.
- Offer may be changed, withdrawn, or extended at any time and cannot be combined with any other offer unless otherwise indicated.
- Earn 8 TD Rewards Points† for every $1 you spend when you book travel through Expedia® For TD†.
- Earn 6 TD Rewards Points† for every $1 you spend on Groceries, Dining, and Public Transit†.
- Earn 4 TD Rewards Points† for every $1 you spend on Recurring Bill Payments and Streaming, Digital Gaming & Media†.
- Earn 2 TD Rewards Points For every $1 you spend on other Purchases made using your Card† plus earn an annual Birthday Bonus† of up to 10,000 TD Rewards Points.
- Earn more at Starbucks: Link your eligible Card to earn 50% more TD Rewards Points plus more Starbucks Stars. Redeem points for even more Stars. Conditions apply.
- No travel blackouts†, no seat restrictions† and no expiry† for your TD Rewards Points as long as your account is open and in good standing.
- Each year, you will receive one $100.00 TD Travel Credit on your first Eligible Travel Credit Purchase of $500.00 or more made with Expedia For TD and posted to the Account in a calendar year.
- Interest Rates: 21.99% on purchases and 22.99% on cash advances.
- Go Places on Points: Your Points are worth more when you redeem through Expedia® For TD: Search over a million flights, hotels, packages and more! When you’re ready to book, you can redeem† your TD Rewards Points towards your travel purchase right away.
- Travel Medical Insurance†: Up to $2 million of coverage for the first 21 days. If you or your spouse is aged 65 or older, you are covered for the first 4 days of your trip. Additional top-up coverage is available.
- To be eligible, $60,000 (individual) or $100,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
- †Terms and conditions apply.
- The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.
Rewards breakdown
Rewards breakdownPoints on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more.
Points for every $1 you spend on other eligible grocery stores, dining purchases, entertainment purchases, and eligible daily transit options (including rideshares, buses, subways, taxis and more).
Point for every $1 spent on all other eligible everyday purchases.
NerdWallet's take
NerdWallet's takeA competitive travel card that earns up to 3x Scene+ points on everyday purchases, and comes with six complimentary airport lounge visits and no foreign transaction fees. While you can earn accelerated points (3x) on travel purchases, they must be made through the Scene+ Travel platform, which may feel limiting for some users. Best for: Frequent travellers who shop regularly at Scene+ partner grocery stores, spend big abroad and are looking for airport lounge access.
Pros
- Free airport lounge membership and six free visits per year.
- No foreign transaction fees.
- Free Avis Preferred Plus membership.
Cons
- An above-average $150 annual fee for a travel card.
- Top earn rate (3x on groceries) only applies to Sobeys and its subsidiary stores.
- Must book through Scene+ Travel platform to earn 3x points on travel.
Card details
Card details- Earn up to $1,500 in first year welcome offers, rewards and savings, including up to 60,000 bonus Scene+ points¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more.
- Earn 2x Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways, taxis and more).
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases.
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia.
- Travel with confidence using 10GB of free GigSky global mobile data for 15 days with unlimited Travel Essentials by GigSky for essential travel apps. Visa Infinite cardholders also continue to receive one complimentary 1GB/15-Day GigSky global mobile data plan each year, plus 20% off future GigSky purchases with their Scotiabank Visa Infinite+ card.
- No Foreign Transaction Fee.
- 6 Complimentary Airport Lounge Access.
- Comprehensive Travel Insurance coverage.
- Visa Infinite* Concierge Services.
- Visa Infinite* Hotel Collection.
- Visa Infinite* Dining and Wine Country program.
- Get up to 10¢/L in value on fuel purchases at Shell stations
- Rates, fees and other information are effective as of Jan 2, 2026. Subject to change.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Rewards breakdown
Rewards breakdownPoints for every $1 spent on travel via the CIBC Rewards Centre.†
Points for every $1 spent at eligible gas & electric vehicle charging stations.†
Points for every $1 spent at eligible grocery stores.†
Points for every $1 spent at eligible drug stores.†
Points for every $1 spent everywhere else.†
NerdWallet's take
NerdWallet's takeThe appeal of this mid-tier points card is its flexibility: points on everyday earn categories, plus solid extras, like complimentary lounge access, travel insurance and NEXUS fee rebates. The caveat? This card’s highest earn rate (2x points) is limited to dollars spent via the CIBC Rewards Centre. Best for: Travellers who want occasional lounge access and flexible redemption options.
Pros
- Four airport lounge passes annually.
- NEXUS application rebates every four years.
- Robust travel insurance.
Cons
- 2x earn rate only applies to travel booked through the CIBC Rewards Centre.
- No priority airport services.
Card details
Card details- Welcome Offer: Join and earn up to $1,600 in value including a first year annual fee rebate!† Here's how you can earn up to $1,600 in value–
- Get up to 45,000 Aventura Points (up to $900 in travel value†):
- 15,000 Aventura Points when you make your first purchase.†
- 30,000 Aventura Points when you spend $3,000 or more in the first 4 monthly statement periods.†
- Get a one-time annual fee rebate ($139) for you (the primary cardholder) and up to three authorized users ($50 each): up to $189 value.†
- Elevate your airport experience with 4 complimentary visits at 1,200+ lounges globally through Visa Airport Companion Program: up to $285 in value.†
- Plus, get a NEXUS◊ Application Fee rebate†: A $160 value†
- As an eligible CIBC Cardholder, take advantage of a free Skip+ membership (first year value of $110)†
- Plus, enjoy extra valuable travel benefits.
- Travel when it’s right for you – your Aventura Points don’t expire.†
- Redeem your Aventura Points for more than travel with our Shop With Points/Pay with Points features.†
- Travel local - Aventura Points can be redeemed for more than just flights – use your points for hotels and car rentals for a weekend getaway.
- 2 points for every $1 spent on travel purchased through the CIBC Rewards Centre.†
- 1.5 points for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores.†
- 1 point for every $1 spent on all other purchases.†
- Get a free Skip+ membership when you link your eligible CIBC credit card. Plus, enjoy $0 delivery fees and earn a $10 monthly voucher.†
- Fuel up for less - Link your card with Journie Rewards to save up to 10 cents per litre at participating Pioneer, Fas Gas, Ultramar and Chevron gas stations.†
- This is a digital-exclusive offer.† To be eligible for this offer: 1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and 2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.† This offer is reserved for you. Please do not forward it to anyone else.
- CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Aventura card within the last 12 months.†
- †Terms and Conditions Apply. Select Apply Now to learn more.
Methodology
BACK TO TOPHow did we select cards for this roundup?
For this roundup, we focused on credit cards that earn points, cash-style rewards or loyalty rewards that can be useful for everyday spending, travel, statement credits, merchandise, entertainment, groceries or retail purchases.
Factors in our evaluation include:
Rewards earn rates.
Rewards structure.
Annual fee.
Welcome offer.
Redemption options.
Bonus category caps.
Insurance and card benefits.
Travel perks.
Program flexibility.
Card acceptance.
Suitability for specific spending goals.
Mini-guide to rewards credit cards
BACK TO TOPA rewards credit card earns points, miles or loyalty rewards when you make eligible purchases. You can usually redeem those rewards for things like travel, statement credits, groceries, merchandise, gift cards or entertainment.
The right rewards card depends on three things: where you spend the most, how easy the rewards are to use and whether the card’s annual fee is worth paying.
How to choose a rewards credit card
Start with how you actually spend, not which card has the biggest welcome offer.
A rewards card may be a good fit if you:
Pay your balance in full every month.
Spend regularly in the card’s bonus categories.
Understand how to redeem the points.
Can earn enough value to offset the annual fee.
Will use the card’s benefits without changing your spending habits.
A rewards card may not be worth it if you:
Usually carry a balance.
Spend more just to earn points.
Rarely use the redemption options.
Do not qualify for the card.
Would be better served by a low-interest or no-fee card.
No amount of points is worth paying credit card interest. If you often carry debt, a low-interest credit card may be a better fit than a rewards card.
What makes rewards cards different from one another?
The best rewards card is not always the one with the highest earn rate. The better question is: What problem do you want your rewards to solve?
If you want... | Look for... |
|---|---|
More points on daily spending | High earn rates on repeat categories like groceries, dining, gas, transit, utilities or recurring bills. |
Easy everyday value | Rewards you can redeem for groceries, statement credits, retail purchases, gift cards or simple travel. |
Travel flexibility | Points you can use for different kinds of travel without committing to one airline program. |
Low effort | Automatic categories, simple redemptions or no-fee cards. |
Travel perks | Lounge access, no foreign transaction fees, travel insurance or flexible booking options. |
Popular credit card rewards programs in Canada
Rewards programs differ in how easy they are to use, how flexible they are and where they offer the most value.
Program | Common redemption options | Best for |
|---|---|---|
American Express Membership Rewards | Travel, statement credits, gift cards, merchandise and transfers to partner programs. | People who want flexible points with strong travel upside. |
Scene+ | Groceries, entertainment, dining, travel and statement credits for eligible purchases. | People who want points that are easy to use in everyday life. |
RBC Avion | Travel, merchandise, gift cards, statement credits and transfers to select partners. | People who want to keep future travel options open. |
TD Rewards | Expedia for TD, eligible travel purchases, merchandise, gift cards and statement credits. | People who want approachable travel rewards without airline-transfer complexity. |
PC Optimum | Rewards at Loblaw-banner grocery stores, Shoppers Drug Mart, Esso, Mobil and other partners. | Loyal PC Optimum shoppers who want grocery, pharmacy and gas savings. |
BMO Rewards | Travel, merchandise, gift cards, statement credits and investments. | People whose spending fits BMO’s bonus categories and redemption options. |
How much are credit card points worth?
Credit card points do not all have the same value. Some programs have fixed redemption values, while others depend on how and where you redeem.
A point may be worth more when used for travel than when used for merchandise or statement credits. Some programs also let you transfer points to airline or hotel partners, which can increase value if you know how to use those programs.
Before choosing a card, check:
How many points you earn per dollar.
What one point is worth.
Whether bonus categories have spending caps.
Whether points can expire.
Whether redemptions are simple or restrictive.
Frequently asked questions
What is a rewards credit card?
A rewards credit card earns points, cash back or miles on eligible purchases. The type of rewards, and how you can redeem them, depends on the card and its loyalty program.
Note: Applying doesn’t guarantee approval. The issuer needs to assess your financial profile to determine your eligibility. Cards with lower interest rates, more perks and generous reward earn rates typically require higher credit scores.
Do rewards points ever expire?
Rewards points or miles may expire if there is no account activity for a certain period of time, or if your account falls out of good standing.
Some issuers have stricter rules than others, so always check the card’s terms and conditions to understand how and when rewards could expire.
How much are credit card reward points worth?
The value of points or miles depends on the program and how you redeem them. Whenever possible, compare redemption options before using your points.
You can estimate point value using this formula:
Cash value of redemption ÷ number of points required = value per point
For example, if your reward program allows you to redeem 20,000 points for a $200 flight, the formula would be:
$200 ÷ 20,000 = $0.01
So, each point is worth roughly 1 cent.
If you redeem the same 20,000 points for a $100 kitchen accessory, the value drops to $0.005 per point.
Calculating a baseline value for your points helps you decide when a redemption is worth it.
Here are NerdWallet’s estimated point values for some Canadian reward programs:
American Express Membership Rewards: $0.03 per point.
Aeroplan: $0.02 per point.
Aventura: $0.02 per point.
Scene+ points: $0.01 per point.
Avion Premium: $0.01 per point.
BMO Rewards: $0.01 per point.
Marriott Bonvoy: $0.01 per point.
TD Points: $0.003 per point. PC Optimum: $0.001 per point.
Are credit card rewards taxable?
Credit card rewards are generally considered a rebate or discount by the Canada Revenue Agency, so you won’t usually be taxed on rewards earned from personal spending.
That said, if you earn cash-back rewards as part of your employment or business, tax treatment may be different.
Should you have multiple rewards credit cards?
The number of credit cards you should have depends on your spending habits and financial health.
It can make sense to carry two rewards cards that maximize different bonus categories. For example, you might use one card for groceries and dining, and another for travel purchases or recurring bills.
But more cards also mean more payments to track and more opportunities to carry debt. Only carry multiple rewards cards if you are confident you can pay the balances in full.
Is a rewards credit card worth it?
A rewards card is often worth it if:
You pay your balance in full every month.
You spend regularly in the card’s bonus categories.
You can use the rewards without changing your spending habits.
The rewards and perks outweigh the annual fee.
A rewards card may not be worth it if:
You usually carry a balance.
You overspend to earn points.
You rarely use the redemption options.
You do not meet the card’s eligibility requirements.
The annual fee is higher than the value you realistically get back.
No amount of rewards is worth paying high interest on unpaid balances. If you often carry debt, a low-interest credit card may be a better fit than a rewards card.
What are the perks included with reward credit cards?
Alongside earning points, miles or cash back, some rewards cards offer perks like:
Travel insurance, such as emergency medical, delayed flight, lost luggage, hotel burglary, trip cancellation and car rental coverage.
Deals and discounts with partners, such as rental car companies, restaurants, delivery services or gas stations.
Security features, such as fraud monitoring, purchase protection and extended warranty.
Specialty insurance or services, such as mobile phone coverage, roadside assistance or concierge access.
Travel perks, such as airport lounge access, priority boarding or no foreign transaction fees.
Prioritize perks that are important to you and that you’ll actually use. For example, if you use airport lounges regularly, free lounge passes may save you money. If you rarely travel, those same passes may not justify a higher annual fee.
JUMP TO:
Not sure if a rewards card is right for you?
If you’re still deciding which type of credit card best fits your needs, you may want to compare options across categories in our guide to the best credit cards in Canada.
DIVE EVEN DEEPER
Georgia Rose
Shannon Terrell
Shannon Terrell