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 110,000 points ($550 value in travel rewards) if you live in Quebec and with no minimum purchase!
- Up to 80,000 points ($400 value in travel rewards) and waiver of the annual fee for the first year if you live outside Quebec
With the HSBC World Elite® Mastercard®, you can earn:
- 6 points per dollar for travel purchases (flights, hotels, Airbnb, all-inclusive, etc.)
- 3 points per dollar for all other purchases including Costco
This means a return of 1.5% to 3% 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.
BMO Ascend World EliteMastercard
The BMO Ascend World Elite Mastercard is one of Canada’s best travel Mastercard credit cards. With our exclusive offer, you can get up to 70,000 Welcome Bonus Points:
- 40,000 points when you spend $3,000 in the first 3 months
- 2,500 points per month after $2,000 in monthly purchases from the 4th to the 15th month, up to 30,000 points
Plus, the annual fee is waived in the first year for both the primary cardholder and authorized users.
With the BMO Ascend World Elite Mastercard, you earn:
- 5 points per dollar on travel purchases
- 3 points per dollar on dining purchases
- 3 points per dollar for entertainment purchases
- 3 points per dollar on recurring bill payments
And 1 point for every $1 spent everywhere else, including at Costco. You can use your points for travel purchases on the BMO Rewards website (flights, hotels, car rentals, all-inclusive).
The BMO Ascend World Elite Mastercard also offers:
- Four annual complimentary passes to airport VIP lounges
- Premium insurance for your travels or purchases
- Concierge services
National Bank's World Elite Mastercard®
The National Bank World Elite Mastercard® is the best credit card from NBC.
With this exclusive welcome offer for Milesopedia readers, you can earn 35,000 points after $3,000 in Card purchases, and the first-year annual fee is waived for the primary and first additional cardholder.
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 $149 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 credit card in Canada.
For a limited time, you will earn 10% cash back on all purchases for the first three months (up to $260 cash back). Besides, the 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.
Finally, it is one of the only credit cards in its category to offer an extended warranty of 2 additional years.
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card has no annual fee and offers cashback.
Apply for a Tangerine Money-Back Credit Card by May 31, 2022, and earn an extra 10% back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.
You can choose two to three categories that interest you (groceries, gas, furniture, home improvement, recurring bills, pharmacy, etc.) to earn 2% cash back ! And there is no annual cash back limit. It is one of the best credit cards for renovations.
In addition, the Tangerine Mastercard offers several insurance coverages for your purchases :
- 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.
What is the best credit card in Canada?
There are more than 200 credit cards in Canada. There is no “one best credit card” in Canada.
Several credit cards can match your needs:
What is the best American Express credit card in Canada?
There are more than 30 American Express credit cards in Canada. Check out our best American Express Credit Cards page.
What is the best Mastercard credit card in Canada?
There are more than 90 Mastercard credit cards in Canada. Check out our Best Mastercard Credit Cards page.
What is the best Visa credit card in Canada?
There are more than 80 Visa credit cards in Canada. Check out our Best Visa Credit Cards page.