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Discover our ranking of the best credit cards in Canada, designed to help you choose the ideal option for your financial needs. Compare benefits, rewards, and fees to maximize your savings.
We present our ranking of the best credit cards in Canada in 2022.
On Milesopedia, we analyze nearly 200 credit cards available to Canadians. You can find them in our credit card comparison tool. This comparison tool has also been featured by Protégez-Vous.
Each month, we update our ranking of the best credit card offers, to help you find the best credit card offer that suits you at the moment.
A credit card offer can therefore be excellent at certain times of the year, but less so at others: that’s why you need to constantly stay informed about current offers -especially via our weekly newsletter.
On this page, we will not discuss 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 2022 in Canada by category, such as:
As we regularly repeat, the market is divided into two main categories in Canada: “travel rewards” and “cash back.” We have thus organized our ranking to take this into account:
The HSBC +Rewards Mastercard is the Best Low Interest Rate Credit Card in 2022 in Canada.
This award was given due to an annual interest rate on purchases, cash advances, and balance transfers of 11.9%, which is significantly lower than the average for credit cards in Canada.
The KOHO Premium Prepaid Visa Card is the Best Prepaid Credit Card in 2022 in Canada.
This award was given due to the cash back earned on everyday purchases: 2% on transportation, groceries, and restaurants. Additionally, this prepaid card has no foreign currency conversion fees.
The CIBC Select Visa* Card is the Best Balance Transfer Credit Card in 2022 in Canada.
This award was given due to a recurring offer for a 0% interest rate on balance transfers, for a maximum of 10 months, with a 1% transfer fee.
The NBC mycredit Mastercard is the Best Credit Card for Newcomers in 2022 in Canada.
This award was given due to the absence of annual fees and specific approval criteria from National Bank of Canada for Newcomers and its free support service for 12 months on various topics: daily life, legal, housing, personal finance, and immigration.
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