Earn up to 85,000 Aeroplan Points. Conditions Apply.
featured retirees

Best Credit Cards for Retirees in Canada – September 2022

The Best Credit cards For Retirees

These four credit cards offer travel insurance particularly suited to young retirees.

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

Scotiabank Platinum American Express® Card

For a limited time, when you sign up for the Scotiabank®* Platinum American Express® Card, you can earn up to 60,000 points. That’s a $600 value for travel purchases including Airbnb.

With the Scotiabank®* Platinum American Express® Card, you earn 2 points per dollar spent on all 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 rewards.

Plus, with this card, you will not pay 2.5% foreign transaction fees on any foreign currency purchases, and you get ten complimentary visits to airport VIP lounges with the Priority Pass and Premium Plaza networks.

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

National Bank's World Elite Mastercard®

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

With this exclusive welcome offer for Milesopedia readers, you can earn 35,000 points after $3,000 in purchases and the first year annual fee is waived for the primary and first additional cardholder.

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

  • 5 points per dollar on grocery and restaurant purchases
  • 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 on all other purchases

And since this credit card is a 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

In addition, you can enjoy access to DragonPass airport lounges and free Wi-Fi with Boingo. And unlimited access to the National Bank Lounge at Montreal-Trudeau.

Finally, in 2022, we voted The National Bank’s World Elite Mastercard® as the Best Travel Credit Card for Insurance.

This promotion is intended for individuals who do not have a National Bank Mastercard credit card and have not held a National Bank credit card within the last 24 months.

Scotiabank Passport™ Visa Infinite* Card

With the Scotiabank Passport™ Visa Infinite* Card, you earn 25,000 points on just $1,000 in purchases, which is a $250 value. And each year, if you make at least $40,000 in Card purchases, you’ll earn 10,000 additional points ($100 value).

With the Scotiabank Passport™ Visa Infinite* Card, you earn 2 points for every dollar spent on:

  • grocery purchases
  • dining purchases
  • Entertainment
  • Transportation

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

You can redeem your points for any travel purchases (flights, hotels, all-inclusive and even Airbnb). You can also use your points as cash back rewards with Scene+.

The Scotiabank Passport™ Visa Infinite* Card also offers:

  • no foreign transaction fee
  • 6 complimentary passes to airport VIP lounges
  • Premium insurance for your travels or purchases
  • Concierge services

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:

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.

Frequent Asked Questions about credit cards

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