Best credit cards for retirees | June 2026

Q: What is the best credit card for a retiree?

For retirees, three cards stand out:- Carte Mastercard World Elite de la Banque Nationale — meilleure pour les assurances voyage (jusqu’à 60 jours de couverture médicale).; - Carte American Expressᴹᴰ Platine de la Banque Scotiaᴹᴰ — meilleure pour les avantages voyage haut de gamme et l’accès aux salons.; - Carte Visa Infinite +* Passeportᴹᴰ Banque Scotia — meilleure pour les voyages à l’étranger sans frais de conversion.;

Q: Does pension income count when applying for a credit card?

Yes. Income from QPP/CPP, Old Age Security, RRIF, RRSP, annuities, and private pension funds is all recognized as eligible income by Canadian financial institutions.For Visa Infinite and World Elite Mastercard cards, a personal income of $60,000 or a household income of $100,000 is generally required. American Express Canada cards do not impose any minimum income, which can be convenient if your pension income is more modest.

Q: From what age is a card’s medical insurance reduced?

Thresholds vary by card. Most cards begin to reduce the length of coverage starting at age 60 or 65, typically dropping from 21–31 days to 3, 4, 10, or 15 days per trip. Beyond age 74 or 75, some cards exclude medical coverage entirely. It then becomes essential to purchase individual travel insurance.

Q: Which card should you choose for snowbirds (long stays)?

For snowbirds leaving for 1 to 6 months, several factors matter:- Une assurance médicale d’urgence longue durée est rarement incluse au-delà de 60 jours; il faut presque toujours une assurance complémentaire.; - La Carte Visa Infinite +* Passeportᴹᴰ Banque Scotia est excellente pour les achats aux États-Unis (aucuns frais de conversion).; - La Carte Mastercard Rouge de Rogers offre 2 % de remise sur les achats en USD, sans frais annuels.; - L’accès aux salons d’aéroport est un atout pour les vols longue distance et les escales.;

Q: How can you reduce credit card fees in retirement?

Several levers can help reduce costs:- Demander une renonciation de frais annuels auprès de la banque (souvent accordée la 1ʳᵉ année ou en cas de menace de fermeture).; - Convertir une carte premium en version sans frais de la même famille (downgrade) pour préserver l’ancienneté de crédit.; - Profiter des offres de bienvenue avec frais remis la 1ʳᵉ année (ex. Carte Visa Infinite* TD Classe ultime Voyagesᴹᴰ).; - Regrouper les dépenses récurrentes sur une seule carte pour maximiser le retour et amortir les frais.;

Best Credit Cards for Retirees – June 2026

These 3 credit cards offer insurance packages that are particularly well suited to young retirees.

Here is a table summarizing the different offers. They are the best both for the points they earn and for the travel insurance they offer for those aged 65 and over. For more details, read on or click on the name of a card.

National Bank World Elite Mastercard

With Milesopedia, enjoy an exclusive offer to get up to 50,000 points with the National Bank World Elite Mastercard. This offer is exclusively available through the Milesopedia network and allows you to quickly earn points by following these steps:

10,000 reward points upon enrollment in your credit card payment protection, for a minimum of 3 months of membership.
10,000 points when you make $5,000 in net purchases within the first 3 months.
20,000 points when you reach $20,000 in purchases within the first 12 months.
10,000 points when you combine your credit card with the opening of your first current account within 7 days of your credit card application.

The National Bank World Elite Mastercard is the best Mastercard credit card offered by NBC.

With this card, you earn up to 5 points per dollar on your purchases:

5 points per dollar for groceries and restaurants
2 points per dollar on gas and electric recharge purchases
2 points per dollar on recurring bills
2 points per dollar on À la carte Travel
1 point per dollar for all other purchases

And since it’s an NBC mycredit Mastercard, you can use it at Costco.

With this card, you have access to a $150 annual travel credit that you can use in any of these categories:

Airport parking
Baggage fees
Seat selection
Access to Airport Lounges
Flight upgrades

What’s more, you can enjoy access to DragonPass airport lounges and unlimited access to the National Bank Lounge at Montreal-Trudeau.

Finally, Milesopedia has named the National Bank World Elite Mastercard as the Best Travel Credit Card in 2023, 2024, 2025, and 2026.

Scotiabank^®* Platinum American Express^® Card

For a limited time, by subscribing to Scotiabank Platinum American Express^® Card, you can earn up to 80,000 points. That’s a value of $800 for trips including Airbnb.

With Scotiabank Platinum American Express^® Card, you earn 2 points per dollar spent on all your purchases. You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). And you can also use them for other rewards in the Scene+ program, such as cash back.

What’s more, with this card you pay no fees for foreign currency transactions, and you get 10 free accesses to airport VIP lounges like Priority Pass and Premium Plaza.

And you get excellent insurance for your travels or purchases, concierge service, and exclusive American Express Offers (American Express Invites Program).

Scotiabank Passport™ Visa Infinite +* Card

With this welcome offer for the Scotiabank Visa Infinite ^+* Passport^MC Card, you get up to 60,000 Scene+ points as a welcome bonus (a value of $600):

40,000 points after $2,000 in purchases within the first three months
10,000 points after $10,000 in purchases within the first six months
10,000 points after $40,000 in purchases in the first year

Then, each year, if you make at least $40,000 in purchases on the card, you’ll earn an annual bonus of at least 10,000 points, which represents a $100 value.

With the Scotiabank Visa Infinite +* Passport^MD Card, you earn 3 points per dollar spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà par IGA, Voilà by Safeway, Chalo! grocery stores. FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.

You also earn 2 points per dollar spent, including on foreign purchases, in the following categories:

Grocery shopping
Restaurants
Entertainment centers
Transit

The Scotiabank Visa Infinite +* Passport^MD Card is an excellent Visa credit card for these types of purchases.

These points can be used for any travel purchase at a rate of 1,000 points = $10 (flights, hotels, all-inclusive packages, and even Airbnb). You can also redeem your points as cash back with Scene+, for example, at your grocery store checkout at the same rate of 1,000 points = $10.

The Scotiabank Visa Infinite +* Passport^MD Card also offers:

No fees for foreign currency transactions
6 access to VIP airport lounges
Excellent insurance for your travels and purchases
Concierge service
Travel with confidence with 10 GB of free GigSky global mobile data for 15 days, plus access to GigSky Travel Essentials for essential apps on the go.
Cardholders also receive a free 1 GB/15-day GigSky global mobile data package annually, plus a 20% discount on future GigSky purchases.

We have named this credit card the Best Credit Card with No Foreign Transaction Fees in 2024, 2025, and 2026.

Frequently Asked Questions About Credit Cards for Retirees

Here are frequently asked questions in the Milesopedia community about credit cards for retirees and early retirees.

What is the best credit card for a retiree?

For retirees, three cards stand out:

Carte Mastercard World Elite de la Banque Nationale — meilleure pour les assurances voyage (jusqu’à 60 jours de couverture médicale).
Carte American Express^MD Platine de la Banque Scotia^MD — meilleure pour les avantages voyage haut de gamme et l’accès aux salons.
Carte Visa Infinite +* Passeport^MD Banque Scotia — meilleure pour les voyages à l’étranger sans frais de conversion.

Does pension income count when applying for a credit card?

Yes. Income from QPP/CPP, Old Age Security, RRIF, RRSP, annuities, and private pension funds is all recognized as eligible income by Canadian financial institutions.

For Visa Infinite and World Elite Mastercard cards, a personal income of $60,000 or a household income of $100,000 is generally required. American Express Canada cards do not impose any minimum income, which can be convenient if your pension income is more modest.

Which cards offer the best insurance for travellers aged 65 and over?

Coverage generally decreases with age. Here are the most advantageous options for those aged 65 and over:

Carte Mastercard World Elite de la Banque Nationale — couverture médicale d’urgence parmi les plus généreuses au Canada.
Carte American Express^MD Platine — couverture étendue avec services d’assistance médicale 24/7.
Carte Visa Infinite +* Passeport^MD Banque Scotia — combine assurance + aucuns frais de conversion.

See our travel insurance guide for ages 65 and over for a detailed comparison.

From what age is a card’s medical insurance reduced?

Thresholds vary by card. Most cards begin to reduce the length of coverage starting at age 60 or 65, typically dropping from 21–31 days to 3, 4, 10, or 15 days per trip.

Beyond age 74 or 75, some cards exclude medical coverage entirely. It then becomes essential to purchase individual travel insurance.

Which card should you choose for snowbirds (long stays)?

For snowbirds leaving for 1 to 6 months, several factors matter:

Une assurance médicale d’urgence longue durée est rarement incluse au-delà de 60 jours; il faut presque toujours une assurance complémentaire.
La Carte Visa Infinite +* Passeport^MD Banque Scotia est excellente pour les achats aux États-Unis (aucuns frais de conversion).
La Carte Mastercard Rouge de Rogers offre 2 % de remise sur les achats en USD, sans frais annuels.
L’accès aux salons d’aéroport est un atout pour les vols longue distance et les escales.

Should you choose a no-fee card or a fee-based card in retirement?

The choice depends on how you use it. For moderate spending and little travel, a no-fee card (Tangerine, Rogers, PC Financial) is more than sufficient.

For regular travel and robust travel insurance, a premium card (World Elite, Visa Infinite, American Express Platinum) with an annual fee of $120 to $700 pays for itself through travel credits, lounge access, and insurance protections—particularly useful for limiting the cost of private travel insurance.

How can you reduce credit card fees in retirement?

Several levers can help reduce costs:

Demander une renonciation de frais annuels auprès de la banque (souvent accordée la 1ʳᵉ année ou en cas de menace de fermeture).
Convertir une carte premium en version sans frais de la même famille (downgrade) pour préserver l’ancienneté de crédit.
Profiter des offres de bienvenue avec frais remis la 1ʳᵉ année (ex. Carte Visa Infinite* TD Classe ultime Voyages^MD).
Regrouper les dépenses récurrentes sur une seule carte pour maximiser le retour et amortir les frais.