Best Credit Cards for Retirees – May 2026

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

The National Bank World Elite Mastercard is one of the best options for retirees thanks to its strong earning rates of up to 5 points per dollar on groceries and restaurants, 2 points per dollar on gas, bills and travel, plus a $150 annual travel credit.Other strong choices include:- The Scotiabank Platinum American Express Card, with a welcome bonus of up to 80,000 points (about $800 value), 10 lounge accesses and no foreign transaction fees; - The Scotiabank Passport Visa Infinite + Card, offering up to 60,000 Scene+ points, 6 lounge accesses and 10 GB of free GigSky mobile data; Your best pick depends on your travel habits and monthly spending profile.

Q: Can a retiree on a fixed income still qualify for a premium credit card?

Yes. Banks consider your full annual income, including pensions (CPP/QPP, OAS), employer pensions, RRIF withdrawals, dividend income and rental income.For a Visa Infinite or World Elite Mastercard, the typical requirement is $60,000 personal income or $100,000 household income. Most retirees comfortably meet this threshold once all retirement income sources are added together. American Express cards generally have no minimum income requirement, which makes them an easy approval path for retirees who prefer not to disclose every income stream during the application.

Best Credit Cards for Retirees – May 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 seniors.

What is the best credit card for a retiree in Canada?

The National Bank World Elite Mastercard is one of the best options for retirees thanks to its strong earning rates of up to 5 points per dollar on groceries and restaurants, 2 points per dollar on gas, bills and travel, plus a $150 annual travel credit.

Other strong choices include:

The Scotiabank Platinum American Express Card, with a welcome bonus of up to 80,000 points (about $800 value), 10 lounge accesses and no foreign transaction fees
The Scotiabank Passport Visa Infinite + Card, offering up to 60,000 Scene+ points, 6 lounge accesses and 10 GB of free GigSky mobile data

Your best pick depends on your travel habits and monthly spending profile.

Should retirees choose a card with travel insurance?

Yes. Travel insurance is one of the most valuable benefits for retirees, especially those who spend winters in the United States or take longer trips abroad.

Most premium cards include emergency medical, trip cancellation, trip interruption, baggage delay and rental car coverage. Coverage duration is critical: many cards reduce the maximum number of days of out-of-province medical coverage once you reach age 60 or 65, sometimes down to 3, 4, 10 or 15 days per trip. Always read the certificate of insurance carefully and consider a top-up policy for longer stays. The comparative table of credit card insurance coverage details the limits by age.

Is there a credit card with no foreign transaction fees for snowbirds?

Snowbirds spending winters abroad benefit greatly from cards that waive the standard 2.5% foreign transaction fee. The top picks are:

The Scotiabank Passport Visa Infinite + Card, which earns 2 points per dollar on dining and transit while charging no foreign transaction fees
The Scotiabank Platinum American Express Card, which earns 2 points per dollar on every purchase with no foreign transaction fees

On a $20,000 USD winter budget, that 2.5% saving alone represents $500 in avoided fees, more than enough to offset the annual fee on most premium cards.

Which credit card offers the best airport lounge access for seniors?

For retirees who travel often, lounge access turns long layovers into a relaxing experience. The strongest options are:

The Scotiabank Platinum American Express Card, which includes 10 free annual visits to Priority Pass and Plaza Premium lounges
The Scotiabank Passport Visa Infinite + Card, which offers 6 free annual visits
The National Bank World Elite Mastercard, which provides DragonPass access plus complimentary access to the National Bank Lounge at Montreal-Trudeau airport

Pair these with a comfortable boarding routine to make travel days easier on your knees and back.

Can a retiree on a fixed income still qualify for a premium credit card?

Yes. Banks consider your full annual income, including pensions (CPP/QPP, OAS), employer pensions, RRIF withdrawals, dividend income and rental income.

For a Visa Infinite or World Elite Mastercard, the typical requirement is $60,000 personal income or $100,000 household income. Most retirees comfortably meet this threshold once all retirement income sources are added together. American Express cards generally have no minimum income requirement, which makes them an easy approval path for retirees who prefer not to disclose every income stream during the application.

Should I use a credit card or a debit card while travelling abroad?

A premium credit card is almost always the better choice abroad because it gives you:

Stronger fraud protection, with zero liability on unauthorized charges
Travel insurance activated when the trip is paid with the card
Rewards on every purchase (groceries, dining, gas, accommodations)
No foreign transaction fees on select cards like the Scotiabank Passport Visa Infinite +

Keep your debit card as a backup for ATM cash withdrawals only. For day-to-day spending overseas, the credit card protects your bank account, earns rewards and triggers your insurance the moment you tap.

How do I redeem credit card points for travel as a retiree?

Redemption flexibility matters more than ever in retirement, when trips are planned around grandchildren, anniversaries and weather. The simplest programs include:

Scene+ points (Scotiabank): redeem at $10 for every 1,000 points against any travel purchase, with no blackout dates and no minimum redemption
National Bank A La Carte Rewards: 1 point = $0.01 against any travel charge on your statement
American Express Membership Rewards: transfer at a 1:1 ratio to Aeroplan, British Airways Avios or Marriott Bonvoy for premium-cabin awards

For more details, see our complete guide to the loyalty programs available in Canada.