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 is a summary of the awards earned by the different credit cards in Canada. After, you will find the details of the 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 the 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. That’s why we’ve selected them 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 more credit card choices in this category:
The Tangerine Money-Back Credit Card is the best no-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:
Scotiabank Gold American Express® Card is the best grocery credit card in Canada in 2023 for these reasons:
The BMO Ascend World Elite Mastercard is the best credit card for gas and transportation 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 purchases 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 balance transfer credit card in Canada in 2023:
The HSBC +Rewards Mastercard is the best low-interest credit card in 2023 in Canada for these reasons:
The KOHO Premium Mastercard Prepaid Card is the best prepaid credit card in 2023 in Canada for these reasons:
Here are two more 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 have noticed that travellers are looking for more comfort, insurance and savings.
Thus, credit cards offering access to airport lounges, travel credits to improve comfort, insurance to cover all contingencies, or the absence of conversion fees for foreign currency transactions stood out in this ranking.
Since 2022, we have witnessed welcome offers never seen before to equip travellers with payment solutions! Here are the top travel rewards credit cards in Canada in 2023.
National Bank’s 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-conversion-fee credit card in 2023 in Canada for these reasons:
National Bank’s 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-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 Platinum CardMD from American Express 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 travellers in 2023 in Canada for these reasons:
Every consumer profile is different, and this profile evolves from year to year according to new needs.
This year, thanks to the numerous feedback from Milesopedia community members, we have decided to refine our ranking to better fit each type of profile.
For example:
This is also where the best cards for entrepreneurs are listed.
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:
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:
La Carte Visa Infinite Passeport Banque Scotia est la Meilleure carte de crédit pour les Snowbirds en 2023 au Canada pour ces raisons :
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 small business credit card in 2023 in Canada for these reasons:
Milesopedia has significant monthly traffic on its website (Milesopedia.com), and its sub-domains used by our affiliate partners operating our white-label credit card comparison service. Thanks to this highly qualified traffic – since consumers are looking for a financial product – we can determine which credit cards are the most consulted and, in fine, the most applied for on our “Milesopedia network.”
We decided to break this part of the ranking down into the top 3 rewards programs in Canada and the top 3 credit card networks.
Here is the ranking of the best credit cards in Canada in 2023 according to Milesopedia (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:
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:
National Bank’s 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 have analyzed nearly 200 credit cards offered 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 various feedbacks of tens of thousands of credit cardholders who share their experiences within the Milesopedia community about each of these products.
Each month, we update our rankings of the best credit card offers so that Canadians can find the best credit card offer today that fits their needs.
A credit card offer may be excellent at certain times of the year but not at others. That’s why it’s essential to keep up to date on current offers – primarily 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 as:
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