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Mastercard Featured Cards

The Best Mastercard Credit Cards in Canada – October 2021

The Best Mastercard Credit Cards

These 3 credit cards are among the best Mastercard credit cards in Canada!

Here is a table summarizing the different offers. For more details, read on or click on the name of a card.

HSBC World Elite® Mastercard®

The HSBC World Elite® Mastercard® is a great credit card with no foreign transaction fees, especially for travel purchases.

For a limited time, you can get:

  • Up to 130,000 points (a $650 value in travel rewards) if you live in Quebec and with no minimum purchase!
  • Up to 100,000 points (a $500 value in travel rewards) and a first year annual fee waiver if you live outside Quebec

With the HSBC World Elite® Mastercard®,you earn:

  • 6 points per dollar for travel purchases (flights, hotels, Airbnb, all-inclusive, etc.)
  • 3 points per dollar for all other purchases including Costco

It’s a 1% to 3% value depending on your purchases!

You can apply your points on any travel purchase charged to your HSBC World Elite® Mastercard® (flights, hotels, Airbnb, all-inclusive, etc.). But you can also transfer your points to three airline loyalty programs: British Airways Executive Club, Asia Miles and Singapore Airlines Krisflyer.

Finally, with the HSBC World Elite® Mastercard® you get:

  • $100 annual travel credit (for airport lounges, for example)
  • Unlimited access to Boingo WiFi hotspots around the world
  • 10% discount for hotel bookings on Expedia or Agoda
  • Premium insurance for your travels and purchases

Finally, the HSBC World Elite® Mastercard® does not charge any conversion fees for foreign exchange transactions: you save 2.5% for each transaction.

And it’s one of the best credit cards for Costco, where you earn 3 points per dollar.

NBC World Elite Mastercard

The National Bank World Elite Mastercard® is the best credit card from NBC.

Take advantage of this welcome offer to :

  • Earn 15,000 Reward Points after a net purchase of $3,000 or more in the first three months
  • get a first-year annual fee rebate

You can earn up to 2 points per dollar in card purchases, including at Costco.

Besides, you get up to $250 in travel credits per calendar year:

  • Airport parking: $100
  • Baggage fees: $100
  • Seat selection: $50

Besides, you can enjoy access to the LoungeKey airport lounges as well as free Wi-Fi with Boingo.

The National Bank’s World Elite Mastercard® is a credit card to keep, year after year, for several reasons:

  • it has one of the best travel and purchases credit card insurance on the market
  • up to $250 travel credit per year
  • Unlimited access to the National Bank Lounge at Montreal-Trudeau airport

MBNA Rewards World Elite® Mastercard®

The MBNA Rewards World Elite® Mastercard® is one of the last credit cards in Canada to offer 2 points per dollar anywhere, including Costco!

This is a 2% return when you redeem your points for travel purchases made to your Card.

The welcome bonus is different in Quebec vs other provinces: between 20,000 and 30,000 points, or $200 to $300!

BMO® AIR MILES® World Elite®* Mastercard®*

With this exclusive offer for the BMO® AIR MILES® World Elite®* Mastercard®*, you can earn 3,000 AIR MILES Bonus Miles after $3,000 in Card purchases, representing a $310 cash value. Besides, the $120 annual fee is waived in the first year!

With this card, you earn 3 miles for every $12 spent at participating AIR MILES Partners.

Everywhere else, you’ll earn 1 Mile for every $12 spent, including at Costco and Walmart.

And it’s the only AIR MILES credit card in Canada to offer a 15% discount on AIR MILES flights within North America with no blackout periods.

The BMO® AIR MILES® World Elite®* Mastercard®* card also offers:

  • Premium insurance for your travels or purchases
  • Double the miles for car rentals with National or Alamo
  • Concierge services

BMO® CashBack® World Elite®* Mastercard®*

The BMO® CashBack® World Elite®* Mastercard®* is one of the best Cash Back Mastercard in Canada.

Currently, you will get 10% cash back on all your purchases during the first 3 months for a limited time. Besides, the $120 annual fee is waived in the first year!

With the BMO® CashBack® World Elite®* Mastercard®*, you earn between 2% and 5% cash back on many spending categories:

  • 5% on grocery purchases (on the first $500 you spend monthly)
  • 4% on transit (on the first $300 you spend monthly)
  • 3% on gas and electric vehicle charging (on the first $300 you spend monthly)
  • 2% on recurring bill payments (on the first $500 you spend monthly)

Everywhere else, you’ll earn 1% cash back, including at Costco.

Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card has no annual fee and offers cashback.

You can earn an additional 15% cash back (up to $150) when you spend up to $1,000 on everyday purchases in the first 2 months.

You can choose two to three categories of purchases (grocery, gas, furniture, home improvement, recurring bill payments, drug store, etc.) to earn 2% cashback! And with unlimited annual cashback!

Besides, the Tangerine Money-Back Credit Card comes with additional benefits:

  • 90 days purchase insurance
  • One year extended warranty

Finally, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months.

NBC mycredit Mastercard

With the NBC mycredit Mastercard, you earn:

  • 1% cash back on restaurant purchases and recurring pre-authorized payments
  • 0.5% cash back on all other purchases, including at Costco

Cash back is automatically applied to your credit card statement every billing cycle.

We recommend this credit card for those who are new to credit cards and want a credit card with no annual fee. Especially since this credit card comes with some insurance for your purchases, including mobile device insurance (which is rare for a no annual fee credit card ).

Other great offers

Frequent Asked Questions about credit cards

Here are frequently asked questions in the milesopedia community about credit cards in Canada.