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Discover our ranking of the best credit cards in Canada, designed to help you choose the ideal option based on your financial needs, whether for rewards, cash back, or advantageous interest rates.
We present our ranking of the best credit cards in Canada in 2023.
You can find our methodology here.
For this 2023 edition, we have divided the credit cards into four main categories:
Below, find a summary of the rankings awarded to various credit cards in Canada. And further down, you’ll find the detailed ranking.
The best credit cards in 2023 for everyday life:
The best credit cards in 2023 for travel:
Best credit cards in 2023 by customer profile:
The best credit cards in 2023 according to Milesopedia network statistics (Milesopedia.com and partners):
In 2022-2023, the economic context profoundly changed consumer habits. In an inflationary environment, Canadians are looking for products that can help them save money on expenses such as groceries, gas, recurring bills or drugstore purchases.
The credit cards below all stood out in 2022 in their respective categories for offering more to their cardholders than their competitors. These are the ones we have selected as the best credit cards in Canada in 2023 for everyday life.
The CIBC Dividend® Visa Infinite* Card is the best cash back credit card in 2023 in Canada for these reasons:
Here are 3 other credit card choices in this category:
The Tangerine Money-Back Credit Card is the best no-annual-fee cash back credit card in 2023 in Canada for these reasons:
The MBNA Rewards World Elite® Mastercard® is the best credit card for everyday spending in 2023 in Canada for these reasons:
The Scotiabank Gold American Express® Card is the best credit card for groceries in 2023 in Canada for these reasons:
The BMO CashBack® World Elite®* Mastercard®* is the best credit card for gas and transit in 2023 in Canada for these reasons:
The American Express® Gold Rewards Card is the best credit card for drugstores in 2023 in Canada for these reasons:
The HSBC Cash Rewards Mastercard® is the best credit card for online shopping in 2023 in Canada for these reasons:
The American Express Cobalt® Card is the best credit card for restaurants in 2023 in Canada for these reasons:
The CIBC Select Visa* Card is the best credit card for balance transfers in 2023 in Canada:
The HSBC +Rewards™ Mastercard® is the best low-interest credit card in 2023 in Canada for these reasons:
The KOHO Premium Prepaid Mastercard is the best prepaid credit card in 2023 in Canada for these reasons:
Here are 2 other credit card choices in this category:
Since 2022, after two years of the pandemic, Canadians have been looking forward to getting away from it all: travel has resumed in earnest. But here too, the context has changed: we’ve noticed that travellers are looking for greater comfort, insurance and savings.
Credit cards offering airport lounge access, travel credits for enhanced comfort, insurance coverage for unforeseen events, or no foreign transaction fees have stood out in this ranking.
Since 2022, we have seen unprecedented welcome offers to equip travelers with payment solutions! Here are the best travel rewards credit cards in Canada in 2023.
The National Bank World Elite Mastercard® is the best credit card for travel in 2023 in Canada for these reasons:
The RBC Avion Visa Infinite Card is the best credit card for flexible rewards in 2023 in Canada for these reasons:
The HSBC World Elite® Mastercard® is the best no-foreign-transaction-fee credit card in 2023 in Canada for these reasons:
The National Bank World Elite Mastercard® is the best credit card for travel insurance in 2023 in Canada for these reasons:
The American Express® Green Card is the best no-annual-fee travel credit card in 2023 in Canada for these reasons:
The Marriott Bonvoy® American Express®* Card is the best credit card for hotels in 2023 in Canada for these reasons:
The American Express Platinum Card® is the best premium credit card in 2023 in Canada for these reasons:
The American Express®* Aeroplan® Reserve Card is the best credit card for frequent travelers in 2023 in Canada for these reasons:
Every consumer profile is different, and evolves from year to year as needs change.
This year, thanks to the feedback we’ve received from members of the Milesopedia community, we’ve decided to refine our ranking to better suit each type of profile.
For example:
This ranking also lists the best cards for entrepreneurs.
Here are the best credit cards in Canada in 2023 by customer profile.
The CIBC Dividend® Visa* Card for Students is the best credit card for students in 2023 in Canada for these reasons:
The American Express Cobalt® Card is the best credit card for young professionals in 2023 in Canada for these reasons:
The Scotiabank Gold American Express® Card is the best credit card for families in 2023 in Canada for these reasons:
The NBC mycredit Mastercard is the best credit card for newcomers in 2023 in Canada for these reasons:
The Scotiabank Passport™ Visa Infinite* Card is the Best credit card for Snowbirds in 2023 in Canada for these reasons:
The American Express Business Edge™ Card is the best credit card for startups in 2023 in Canada for these reasons:
The Business Platinum Card® from American Express is the best credit card for businesses in 2023 in Canada for these reasons:
Milesopedia has significant monthly traffic both on its website (Milesopedia.com) and on its subdomains, which are used by our affiliate partners through our white-label credit card comparison tool. Thanks to this highly qualified traffic – since we’re talking about consumers looking for a financial product – we’re able to determine which credit cards are the most frequently consulted and, ultimately, the most subscribed to throughout our “Milesopedia network”.
We have decided to divide this part of the ranking based on the 3 main rewards programs in Canada and the 3 main credit card networks.
Here is the ranking of the best credit cards in Canada in 2023 according to the Milesopedia network (Milesopedia.com and affiliated partners).
The TD® Aeroplan® Visa Infinite* Card is the best Aeroplan credit card in 2023 in Canada for these reasons:
The BMO AIR MILES World Elite Mastercard is the best AIR MILES credit card in 2023 in Canada for these reasons:
The Scotiabank Gold American Express® Card is the best Scene+ credit card in 2023 in Canada for these reasons:
The American Express Cobalt® Card is the best American Express credit card in 2023 in Canada for these reasons:
The National Bank World Elite Mastercard® is the best Mastercard credit card in 2023 in Canada for these reasons:
The CIBC Aventura® Visa Infinite* Card is the Best Visa credit card in 2023 in Canada for these reasons:
Since 2015, on Milesopedia, we’ve been analyzing nearly 200 credit cards available to Canadians. You can find them in our credit card comparison tool. This comparison tool has been taken over by Protégez-Vous, confirming the credibility of our data.
In addition to our studies, we are also credit card users: we have – or have had – most of these credit cards in our wallets. This allows us to confirm or deny theoretical information through practice. Finally, we analyze the feedback from tens of thousands of credit card holders who share their experiences within the Milesopedia Community about each of these products.
Every month, we update our rankings of the best credit card offers, so that Canadians can find the best credit card deal for their needs.
A credit card offer may be excellent at some times of the year, but less so at others: That’s why it’s essential to stay updated on current offers – especially via our weekly newsletter.
On this page, we will not talk about offers but rather an evaluation based on the overall characteristics of each credit card. Several factors are thus considered to choose the best credit card in 2023 in Canada by category such as:
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