Milesopedia’s Best Credit Cards in Canada for 2024

2024 Awards Summary

The Best Credit Cards in 2024 for everyday life:

The Best Credit Cards in 2024 for travel:

The Best Credit Cards in 2024 by customer profile:

The best credit cards in 2024 according to Milesopedia network statistics (Milesopedia.com and partners):

Best Credit Cards For Everyday Life

In 2023-2024, the economic context has 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 have all distinguished themselves in 2023 in their respective categories by offering their cardholders more than their competitors. These are the ones we have selected as the best credit cards in Canada for 2024 for everyday life.

Best cash back credit card

The CIBC Dividend^® Visa Infinite* Card is the best cash back credit card in 2024 in Canada for these reasons:

• High cash back for common merchants: 4% on groceries and gas, 2% on transit, restaurants, and recurring bill payments, and 1% everywhere else
• Statement credit available for as little as $25 cash back
• Accepted at almost every retailer

Here are 3 other credit card choices in this category:

• SimplyCash^® Preferred Card from American Express
• BMO CashBack^® World Elite^®* Mastercard^®*
• Scotia Momentum^® VISA Infinite +* Card

Best No-Fee Cash Back Credit Card

The Tangerine^® Money-Back World Mastercard^®* is the best no-annual-fee cash back credit card in Canada in 2024 for the following reasons:

• Choice of two to three 2% earning categories from a list of 10 categories
• The minimum cash back redemption amount is $1
• Accepted at almost every retailer
• No annual fee

Here are 3 other credit card choices in this category:

• SimplyCash^® Card from American Express
• CIBC Dividend^® Visa* Card
• BMO^® CashBack^® Mastercard^®*

Best credit card for everyday spending

The MBNA World Elite^MD Rewards Mastercard^MD is the best credit card for everyday spending in Canada in 2024 for these reasons:

• 5 points per dollar for restaurants, groceries, digital media, subscriptions, and household utilities
• Ease of redeeming points for a statement credit
• Insurance
• Accepted in all stores

Here are 3 other credit card choices in this category:

• National Bank World Elite Mastercard
• SimplyCash^® Preferred Card from American Express
• American Express Cobalt^® Card

Best No-Fee Credit Card For Everyday Spending

The RBC ION Visa Card is the best no-annual-fee credit card for everyday spending in 2024 in Canada for these reasons:

• 1.5x Avion points on groceries, travel, gas, electric vehicle charging, streaming services, digital games and subscriptions
• 1 Avion point per dollar on all other eligible purchases
• Save 3¢ per litre on gas and earn 20% more points at Petro-Canada
• No annual fee

Here are 3 other credit card choices in this category:

• CIBC Aventura^® Visa* Card
• MBNA Rewards Platinum Plus^® Mastercard^®
• Neo Mastercard^®

Best Credit Card For Groceries

The Scotiabank Gold American Express^® Card is the best credit card for groceries in 2024 in Canada for these reasons:

• 6 points per dollar at IGA or Sobeys and 5 points per dollar at other grocery stores
• Flexible rewards
• No Foreign Transaction Fee
• Full travel insurance

Here are 3 other credit card choices in this category:

• American Express Cobalt^® Card
• CIBC Dividend^® Visa Infinite* Card
• National Bank World Elite Mastercard

Best Credit Card For Gas And Transit

The BMO eclipse Visa Infinite* Card is the best gas and transportation credit card in Canada in 2024 for these reasons:

• 5x BMO Rewards points for every dollar spent on groceries, restaurants, gas and transportation
• $50 annual lifestyle credit to use as you wish
• Travel and purchase insurance
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• SimplyCash^® Preferred Card from American Express
• BMO eclipse Visa Infinite* Card
• American Express Cobalt^® Card

Best Credit Card For Drugstores

The American Express^® Gold Rewards Card is the best credit card for drugstores in 2024 in Canada for these reasons:

• 2 points per dollar on drugstore purchases
• Flexible Rewards
• Travel Partners (American Express Membership Rewards program)
• No minimum income required

Here are 3 other credit card choices in this category:

• BMO eclipse Visa Infinite Privilege* Card
• Tangerine Money-Back Credit Card
• Tangerine Money-Back World Mastercard

Best Credit Card For Recurring Payments

The Scotiabank Momentum^® Visa Infinite +* Card is the best credit card for recurring payments in 2024 in Canada for these reasons:

• 4% cash back on groceries, bill payments and subscriptions
• 2% On Gas and Daily Transit
• Travel and purchase insurance
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• TD Cash Back Visa Infinite* Card
• BMO Ascend^™ World Elite^®* Mastercard^®*
• SimplyCash^® Preferred Card from American Express

Best Credit Card For Dining

The American Express Cobalt^® Card is the best credit card for restaurants in 2024 in Canada for these reasons:

• 5% cash back for restaurants, bars and home food delivery
• Cash back as Statement Credit from 1,000 points accumulated ($10)
• No minimum income required

Here are 3 other credit card choices in this category:

• Scotiabank Gold American Express^® Card
• National Bank World Elite Mastercard
• BMO eclipse Visa Infinite* Card

Best Balance Transfer Credit Card

The CIBC Select Visa* Card is the best credit card for balance transfers in 2024 in Canada:

• Recurring offer of 0% interest on balance transfers for up to 10 months, subject to a 1% transfer fee.

Here are 3 other credit card choices in this category:

• Scotiabank Value^® Visa* Card
• BMO^® Preferred Rate Mastercard^®*
• Scotia Momentum^® No-Fee VISA* Card

Best Low-Interest Credit Card

The Scotia Value Card is the best low-interest credit card in Canada in 2024 for these reasons:

• Low annual interest rate of 12.99% on purchases, cash advances and balance transfers
• Welcome interest rate of 0% for the first 10 months on cash advances
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• CIBC Select Visa* Card
• National Bank Syncro Mastercard
• BMO^® Preferred Rate Mastercard^®*

Best Prepaid Credit Card

The KOHO Extra Mastercard Prepaid Card is the best prepaid credit card in 2024 in Canada for these reasons:

• Cash back for everyday purchases: 1% on transit, groceries, and restaurants
• No Foreign Transaction Fee
• No credit check
• No minimum income required

Here are 2 other credit card choices in this category:

• Neo Money Card
• KOHO Prepaid Mastercard

Best Travel Credit Cards

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 for 2024.

Best Travel Credit Card

The National Bank World Elite Mastercard is the best credit card for travel in 2024 in Canada for these reasons:

• Generous insurance coverage for travel and everyday purchases
• Award-winning customer service
• Up to $150 in annual travel credits
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• CIBC Aventura^® Visa Infinite* Card
• American Express^® Gold Rewards Card
• Scotiabank Passport^™ Visa Infinite +* Card

Best Flexible Travel Rewards Credit Card

The RBC Avion Visa Infinite Card is the best credit card for flexible travel rewards in 2024 in Canada for these reasons:

• Flexible Rewards
• RBC Program Travel Partners Avion Rewards Partners: American Airlines, British Airways/Qatar Airways, WestJet, Cathay Pacific
• Travel insurance
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• American Express Cobalt^® Card
• American Express^® Gold Rewards Card
• MBNA Rewards World Elite^® Mastercard^®

Best Travel Rewards Credit Card

The TD First Class Travel^® Visa Infinite* Card is the best credit card for travel rewards in 2024 in Canada for these reasons:

• 8 points per dollar for travel purchases via Expedia for TD
• $100 TD Annual Travel Credit
• Travel and purchase insurance
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• CIBC Aventura^® Visa Infinite* Card
• National Bank World Elite Mastercard
• Scotiabank Passport^™ Visa Infinite +* Card

Best No-FX Fee Credit Card

The Scotiabank Passport Visa Infinite +* Card is the best no-conversion-fee credit card in 2024 in Canada for these reasons:

• No Foreign Transaction Fee
• 6 annual airport lounge visits
• Travel and purchase insurance
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• Scotiabank Gold American Express^® Card
• Scotiabank Platinum American Express^® Card
• KOHO Premium Mastercard Prepaid Card

Best Credit Card For Travel Insurance

The National Bank World Elite Mastercard is the best credit card for travel insurance in 2024 in Canada for these reasons:

• Generous insurance coverage for travel and everyday purchases
• Award-winning customer service
• Up to $150 in annual travel credits
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• BMO Ascend^™ World Elite^®* Mastercard^®*
• Scotiabank Gold American Express^® Card
• Desjardins Odyssey World Elite Mastercard

Best no-annual-fee travel credit card

The American Express^® Green Card is the best credit card for travel with no annual fee in 2024 in Canada for these reasons:

• Ease of using points
• Travel Partners (American Express Membership Rewards program)
• Flexibility in choosing rewards
• No minimum income required

Here are 3 other credit card choices in this category:

• CIBC Aventura^® Visa* Card
• RBC ION Visa Card
• MBNA Rewards Platinum Plus^® Mastercard^®

Best Hotel Credit Card

The Marriott Bonvoy^® American Express^®* Card is the best credit card for hotels in 2024 in Canada for these reasons:

• Points can be used at over 8,000 hotels worldwide
• Annual Free Night Award offered every year upon Card renewal
• Rewards offered within the Marriott Bonvoy program (status and accelerated point accumulation)
• No minimum income required

Here are 3 other credit card choices in this category:

• Marriott Bonvoy^® Business American Express^®* Card
• American Express^® Gold Rewards Card
• American Express Platinum Card^®

Best Premium Credit Card

The American Express Platinum Card^® is the best premium credit card in 2024 in Canada for these reasons:

• Access to over 1,300 airport lounges worldwide
• Status offered by several hotel loyalty programs
• Reserved benefits at renowned hotels and restaurants
• Flexible Rewards
• Travel Partners (American Express Membership Rewards program)
• Full travel insurance
• No minimum income required

Here are 3 other credit card choices in this category:

• BMO eclipse Visa Infinite Privilege* Card
• American Express^® Aeroplan^®* Reserve Card
• TD^® Aeroplan^® Visa Infinite Privilege* Credit Card

Best Credit Card For Frequent Flyers

The American Express^® Aeroplan^®* Reserve Card is the best credit card for frequent travelers in 2024 in Canada for these reasons:

• Air Canada benefits such as access to Maple Leaf lounges
• Benefits for Aeroplan Status
• Highest point earning rate for Air Canada and Air Canada Vacations purchases
• Travel insurance

Here are 3 other credit card choices in this category:

• TD^® Aeroplan^® Visa Infinite Privilege* Credit Card
• Air France KLM World Elite Mastercard^®
• WestJet RBC^® World Elite Mastercard‡

Best Credit Cards By Customer Profile

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:

• Students will need a card that saves them money on their day-to-day expenses and offers them benefits designed specifically for them;
• Young professionals who do not yet have a high enough income to qualify for certain credit cards but are still looking to benefit more will be offered certain types of attractive products;
• Families will have special needs for groceries, entertainment and travel (for example cards offering points applicable to Airbnb spending);
• Snowbirds will need credit cards with no currency conversion fees;
• etc.

This ranking also lists the best cards for entrepreneurs.

Here are the best credit cards in Canada for 2024 by customer profile.

Best Credit Card For Students

The CIBC Dividend^® Visa* Card for Students is the best credit card for students in 2024 in Canada for these reasons:

• Cash back earning categories for everyday purchases
• Free registration in the SPC program with student discounts
• Insurance coverage
• Accepted at almost every retailer
• No minimum income required
• No annual fee

Here are 3 other credit card choices in this category:

• BMO^® CashBack^® Mastercard^®* for students
• CIBC Aventura^® Visa* Card for Students
• BMO AIR MILES^® Mastercard^® for Students

Best Credit Card For Young Professionals

The National Bank Platinum Mastercard is the best credit card for young professionals in 2024 in Canada for these reasons:

• Up to 2 points per dollar for groceries and restaurants
• Good insurance for travel and shopping
• Accepted in all stores
• No minimum income required

Here are 3 other credit card choices in this category:

• American Express Cobalt^® Card
• TD^® Aeroplan^® Visa Platinum* Credit Card
• CIBC Aventura^® Gold Visa* Card

Best Card for Newcomers

The KOHO Mastercard Prepaid Card is the best card for newcomers in 2024 in Canada for these reasons:

• 1% cash back on transport and groceries
• No credit check
• No minimum income required
• Accepted in all stores

Here are 3 other credit card choices in this category:

• NBC mycredit Mastercard
• Tangerine Money-Back Credit Card
• RBC ION Visa Card

Best credit card for businesses

The Business Platinum Card^® from American Express is the best credit card for businesses in 2024 in Canada for these reasons:

• Access to over 1,300 airport lounges worldwide
• Travel Partners (American Express Membership Rewards program)
• Cardholder benefits at renowned hotels and restaurants
• Full travel insurance

Here are 3 other credit card choices in this category:

• BMO World Elite^®* Business Mastercard^®*
• American Express^® Business Gold Rewards Card^®
• American Express^® Aeroplan^®* Business Reserve Card

Best credit cards according to the Milesopedia network

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 for 2024 according to the Milesopedia network (Milesopedia.com and affiliate partners).

Best Aeroplan credit card

The TD^® Aeroplan^® Visa Infinite* Card is the best Aeroplan credit card in 2024 in Canada for these reasons:

• Air Canada Benefits for Cardholders
• Rewards earned with everyday purchases
• Insurance when using Aeroplan points
• Accepted at almost every retailer

Here are 3 other credit card choices in this category:

• American Express^® Aeroplan^®* Reserve Card
• TD^® Aeroplan^® Visa Infinite Privilege* Credit Card
• CIBC Aeroplan^® Visa Infinite* Card

Best Scene+ Credit Card

The Scotiabank Gold American Express^® Card is the best Scene+ credit card in 2024 in Canada for these reasons:

• 6 points per dollar at IGA or Sobeys
• Flexible rewards
• No Foreign Transaction Fee
• Full travel insurance

Here are 3 other credit card choices in this category:

• Scotiabank Passport^™ Visa Infinite +* Card
• Scotiabank Platinum American Express^® Card
• Scotiabank^® Scene+^™ Visa* Card

Best AIR MILES credit card

The BMO AIR MILES World Elite Mastercard is the best AIR MILES credit card in 2024 in Canada for these reasons:

• AIR MILES benefits offered to cardholders when booking flight rewards
• Rewards earned with everyday purchases (AIR MILES partners)
• Full travel insurance
• Accepted at almost every retailer

Here are 3 other credit card choices in this category:

• BMO AIR MILES^®† Mastercard^®*
• American Express^®* AIR MILES^® Platinum Credit Card
• BMO AIR MILES World Elite Business Mastercard

Best American Express Credit Card

The American Express Cobalt^® Card is the best American Express credit card in 2024 in Canada for these reasons:

• Earning categories
• 5 points per dollar for restaurants and food delivery (equivalent to 5%)
• Flexible Rewards
• Travel Partners (American Express Membership Rewards program)
• No minimum income required

Here are 3 other credit card choices in this category:

• Scotiabank Gold American Express^® Card
• SimplyCash^® Preferred Card from American Express
• Scotiabank Platinum American Express^® Card

Best Mastercard Credit Card

The National Bank World Elite Mastercard is the best Mastercard credit card in 2024 in Canada for these reasons:

• Generous insurance coverage for travel and everyday purchases
• Up to 5 points per dollar for your purchases
• Up to $150 in annual travel credits
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• MBNA Rewards World Elite^® Mastercard^®
• BMO Ascend^™ World Elite^®* Mastercard^®*
• RBC Cash Back Preferred World Elite Mastercard

Best Visa Credit Card

The CIBC Aventura^® Visa Infinite* Card is the Best Visa credit card in 2024 in Canada for these reasons:

• 4 annual accesses to airport lounges
• NEXUS Membership credit
• Up to 2 Aventura points per dollar
• Generous insurance coverage
• Accepted at almost every retailer worldwide

Here are 3 other credit card choices in this category:

• Scotiabank Passport^™ Visa Infinite +* Card
• RBC Avion Visa Infinite Card
• TD First Class Travel^® Visa Infinite* Card

Methodology

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 2024 in Canada by category such as:

• Rewards earned on purchases (points, miles or cash back)
• Benefits offered (lounge access, concierge, annual credit, etc.)
• Insurance coverage (travel, purchases, etc.)
• Fees (annual fee, currency conversion fee, balance transfer fee, additional card fee, etc.)
• Travel Partners
• Card acceptance in Canada and abroad
• Income requirements
• Usage statistics of our sub-affiliated partners’ credit card comparison tools (over 1 million cumulative monthly visits)
• Feedback from thousands of readers and cardholders who share their experiences with us in the Milesopedia Community