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Several premium credit cards reimburse a portion of their annual fees through statement credits, but these credits expire monthly or annually if not used. You pay annual fees on your premium credit card. In return, several Canadian cards offer statement credits that reimburse part of these fees: travel credit, dining credit, lifestyle credit, grocery coupon. The catch: these credits expire. They do not roll over to the next month or the next year. A $200 travel credit not used by December 31 is a $200 travel credit lost.
Two timelines coexist. Monthly credits reset on the first of each month. Annual credits are calculated either on the calendar year or on the card anniversary date. The distinction changes everything: a forgotten monthly credit repeats twelve times a year, while a forgotten annual credit comes back only once. Here is the list to check.
The amounts below were verified on July 6, 2026, on the issuers’ websites. Click on a card name to view its full details. Offers evolve: confirm the current amount in your card’s application before planning a purchase.
These are the credits that cost the most to neglect, because a missed one repeats every month. In Canada, they now mainly come through online grocery partnerships. Two cards stand out.
The Platinum Card® from American Express (an annual fee of $799) provides access to Instacart credits under the Member Extras section. You receive two $10 statement credits per month when you make two separate eligible purchases of at least $10 each, up to $240 per year. Registering for the benefit in the American Express app is mandatory, and the offer runs until December 31, 2027.
Key takeaway: this credit resets to zero on the first of each month. If you do not make your two eligible purchases during the month, the $20 value disappears. Over twelve months, that represents nearly a third of the card’s annual fee.
The BMO® eclipse Visa Infinite® Card (an annual fee of $120, refunded in the first year) grants the Instacart benefit reserved for BMO Visa Infinite cardholders: six months of free Instacart+ membership, followed by a monthly $10 coupon applicable to grocery purchases of $50 or more made on Instacart. BMO advertises a value of up to $120 per year. Registration is required and the offer is valid until October 31, 2027.
As with the Platinum Card®, the coupon does not accumulate. One month without an eligible grocery order on Instacart means $10 gone. For a card with a $120 annual fee, each monthly coupon carries significant weight in the value calculation.
These credits represent the largest share of recoverable value in Canada. They are calculated either on the calendar year or on the card anniversary date. The nuance matters: a credit tied to the calendar year expires on December 31, regardless of when you opened the card.
The Platinum Card® packs the most annual credits in Canada. Three are worth watching:
On their own, the travel and dining credits total $400 per year, or half the annual fee. Letting them expire is like paying full price for the card without receiving the intended value in return.
The Gold Card® from American Express (an annual fee of $250) offers an annual $100 travel credit, applied to a single booking of $100 or more (flight, car rental, or hotel) made through Online Travel Services. It also comes with a $50 NEXUS credit per four-year period. Unlike the Platinum Card®, the Gold Card®’s travel credit is calculated on the card’s anniversary date rather than the calendar year, so note your account opening date.
The BMO® eclipse Visa Infinite® Card pays out a $50 lifestyle credit on every card anniversary, usable however you like. The Privilege version of the card raises this credit to $200 per year. It is a simple annual credit with no minimum spend by category: just use it before it expires.
The CIBC Aventura® Visa Infinite Privilege® Card offers an annual $200 travel credit to spend through CIBC Travel powered by Expedia, plus two NEXUS fee reimbursements per four-year period. The travel credit is calculated on the calendar year: plan an eligible booking before December 31 so you do not lose it.
The Scotiabank Passport™ Visa Infinite* Card (an annual fee of $150) does not offer a monthly statement credit. Instead, it provides an annual bonus of at least 10,000 Scene+ points (worth about $100) if you charge at least $40,000 in eligible purchases to your account over a twelve-month period. This is not a “use it” credit in the strict sense, but a spending target worth keeping in mind if you are already close to the threshold.
A light routine is enough. Three habits cover most of the credits listed above.
To go further, our guide on recurring payments and our guide on managing spending by card show how to align your subscriptions and purchases with the right card. You can also compare cards side by side in our credit card comparator.
Savings this way:
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