Our Ranking of the Best Credit Cards in Canada – 2021

On milesopedia, we analyze nearly 200 credit cards offered to Canadians.

Every month, we update our ranking of the best credit card offers, as well as the twenty or so credit card categories, so that you can find the best credit card offer for you right now.

A credit card offer can therefore be excellent at certain times of the year, but less so at others: this is why it is essential to constantly stay informed about current offers.

On this page, we will not talk about “offers”, but rather an evaluation based on the overall characteristics of the credit card. Several factors are thus considered when choosing the best credit card in Canada in 2021 by category, such as:

• Rewards earned on purchases (points, miles or cash back)
• Benefits offered (lounge access, concierge, annual credit, etc.)
• the welcome bonus offered to new cardholders
• Insurance coverage (travel, purchases, etc.)
• the annual cost
• Travel Partners
• Card acceptance in Canada and abroad
• Income requirements
• the reviews from our readers and Milesopedia community members

If you want to know more about each card in this ranking, check out our editor’s note.

The American Express Cobalt^® Card is the best credit card in Canada in 2021.

With this card, you earn 5 points per dollar on purchases at grocery stores, food deliveries, restaurants and bars, and convenience stores.

And 2 points per dollar on purchases at gas stations and for local transportation. Everywhere else, you will get 1 point per dollar.

Points can be used in many ways:

• Booking airline tickets with the American Express fixed price scale
• Statement credit for travel (plane tickets, hotels, Airbnb, car rentals, etc.)
• Statement credit for purchases
• Transfer to Marriott Bonvoy or Hilton Honors
• To store on amazon.ca

In addition, Cardholders benefit from regular promotional offers.

For all these reasons, the American Express Cobalt^® Card is the best credit card in Canada in 2021.

The Scotia Momentum Visa Infinite+ Card is the best cash back credit card in Canada in 2021.

With this card, you earn 4% cash back on groceries and recurring payments and 2% cash back on transportation and gas purchases. Everywhere else it will be 1% cash back.

In addition, the first year is often free and a welcome bonus is regularly offered to new cardholders. Finally, this credit card comes with excellent insurance and Visa Infinite benefits.

Here are other excellent credit card choices for earning cash back:

The American Express Cobalt^® Card is the best credit card for groceries in Canada in 2021.

With this card, you earn 5 points per dollar on purchases at grocery stores, food deliveries, restaurants and bars, and convenience stores.

That’s a 5% return when you use your points for travel purchases made with your card. And up to 10% when you use your points for airfare with the American Express Fixed Points Travel Program.

You also earn 2 points per dollar on purchases at gas stations and for local transportation. Everywhere else, you will get 1 point per dollar.

Here are other excellent credit card choices for groceries:

The BMO eclipse Visa Infinite* Card is the best credit card for gas and public transit in Canada in 2021.

With this card, you earn 5 points per dollar on public transit, gas, grocery, and restaurant purchases. This corresponds to a 3.33% return when you redeem your points for travel purchases with BMO Rewards.

Plus, each year you’ll receive a $50 annual credit to use as you see fit. This credit card also comes with mobile device insurance and the full range of Visa Infinite benefits.

Here are other excellent credit card choices for gas or public transit purchases:

The MBNA Rewards Platinum Plus^® Mastercard^® is the best no-annual-fee credit card in Canada for 2021.

With this card, you earn 2 points per dollar on gas, grocery, and restaurant purchases, and 1 point per dollar everywhere else.

Plus, you can earn up to 10,000 welcome bonus points, a $100 value.

Here are other excellent no-annual-fee credit card choices:

The National Bank World Elite Mastercard is the best credit card in Canada with insurance for 2021.

With this card, you have full travel insurance for up to 60 days and benefit from insurance for trip cancellation or interruption, lost luggage and up to 48 days for car rental.

It is also one of the few credit cards that allows you to triple the manufacturer’s warranty (up to an additional 2 years) and offers purchase insurance against theft or damage for up to 180 days from the purchase date!

In addition, this card offers you up to $250 on your annual travel expenses and allows you to enjoy the National Bank Lounge for free with a guest at Montreal-Trudeau Airport!

Here are other excellent credit card choices for insurance:

The HSBC World Elite^® Mastercard^® is the best no foreign transaction fee credit card in Canada for 2021.

With this card, you will pay no foreign transaction fees on purchases made in foreign currencies, whereas most other credit cards charge 2.5%.

You earn 6 points per dollar for travel and 3 points per dollar everywhere else. In addition, you receive an annual $100 Travel Enhancement Credit each year.

You are also covered for medical emergencies while traveling for 31 days, as well as trip cancellation and interruption.

Furthermore, this card regularly offers a very generous welcome bonus for new cardholders.

Here are other excellent no foreign transaction fee credit card choices:

The HSBC World Elite^® Mastercard^® is the best travel points credit card in Canada for 2021.

With this card, you get 6 points per dollar for your travels, which means a 3% return when you use your points for travels paid with the card: plane ticket, hotel, apartment rental on Airbnb, train ticket, cruises, etc.

Given that this card charges no foreign transaction fees, it is particularly advantageous to use it for your travel purchases abroad!

You are also covered for medical emergencies while traveling for 31 days, as well as trip cancellation and interruption.

Furthermore, this card regularly offers a very generous welcome bonus for new cardholders.

Here are other excellent credit card choices with travel points:

The American Express^® Gold Rewards Card is the best hybrid points credit card in Canada for 2021.

Hybrid points can be used in various ways: statement credit, points transfer to partner programs, fixed rate for airline tickets, etc.

With this card, you get 2 points per dollar spent in grocery stores, gas stations, pharmacies and travel.

That’s a 2% return when you use your points for travel purchases made with your card. And up to 4% when you use your points for airfare with the American Express Fixed Points Travel Program.

You can also transfer your points to numerous airline partners (Aeroplan, British Airways Executive Club, Delta Skymiles, etc.) and hotel partners (Hilton Honors, Marriott Bonvoy).

Here are other excellent hybrid points credit card choices:

The Marriott Bonvoy^® American Express^®* Card is the best credit card for hotels in Canada in 2021.

With this card, you earn 5 points per dollar for most of your spending at Marriott Bonvoy locations. And 2 points per dollar on all your purchases.

In addition, each year upon renewal, you receive an annual free night certificate worth 35,000 points, as well as 15 Elite Nights per year, counting towards your Marriott Bonvoy status.

Here are other excellent credit cards for earning points for free hotel nights:

The Scotiabank Passport™ Visa Infinite +* Card is the best credit card for airport VIP lounges in Canada for 2021.

With this card, you get a Priority Pass membership and 6 annual accesses to Priority Pass airport lounges and restaurants. No other card at this level offers as many accesses.

It is also an attractive card for travelers as it charges no foreign transaction fees on purchases made in foreign currencies.

Here are other excellent credit card choices for VIP lounge access:

The BMO AIR MILES Mastercard is the best credit card for beginners with rewards points in Canada for 2021.

This card has no annual fees and offers an attractive welcome bonus to get started with AIR MILES, a loyalty program that is easy to understand and offers discounts at checkout in many stores.

Here are other excellent credit card choices for beginners with points:

The BMO CashBack Mastercard for Students is the best credit card for students in Canada in 2021.

This credit card has no annual fee. This is a great credit card to start with, and to keep year after year to build your credit history.

With this card, you earn 3% cash back on grocery purchases, 1% on recurring bill payments, and 0.5% on all other purchases.

Here are other excellent credit card choices for students:

The National Bank World Elite Mastercard is the best credit card for retirees in Canada in 2021.

With this card, you have a complete travel insurance:

• 54 years and under: 60 days
• 55 to 64 years: 31 days
• 65 to 75 years old: 15 days

And you benefit from insurance for trip cancellation or interruption, lost luggage and up to 48 days for car rental.

It is also one of the few credit cards that allows you to triple the manufacturer’s warranty (up to an additional 2 years) and offers purchase insurance against theft or damage for up to 180 days from the purchase date!

In addition, this card offers you up to $250 on your annual travel expenses and allows you to enjoy the National Bank Lounge for free with a guest at Montreal-Trudeau Airport!

Here are other excellent choices for retirees:

The American Express Business Edge™ Card (now discontinued) is the best credit card for small businesses in Canada for 2021.

With this card, you earn 3 points per dollar on purchases of office supplies, electronics, transportation, gas, and at restaurants, bars, and bistros.

That’s a 3% return when you use your points for travel purchases made with your card. And up to 6% when you use your points for airfare with the American Express Fixed Points Travel Program.

In addition, you can get up to 99 additional cards at no charge, which is ideal if your activities are expanding or for businesses requiring multiple cards (e.g., transport companies for their drivers’ gas purchases).

Here are other excellent credit card choices for small businesses:

The TD^® Aeroplan^® Visa Infinite* Card is the best Aeroplan credit card in Canada for 2021.

With this card, you earn 1.5 points per dollar spent on gas, groceries and Air Canada purchases (including Air Canada Vacations). And 1 point per dollar everywhere else.

When you travel with Air Canada, you save on checked baggage fees (up to 8 travel companions can check their first bag for free)! Also, you get a $100 discount on the NEXUS membership fee.

In addition, the first year is often free and a very attractive welcome bonus is offered to new cardholders. And this credit card comes with excellent insurance.

Here are other excellent choices for earning Aeroplan points:

The BMO AIR MILES World Elite Mastercard is the best AIR MILES credit card in Canada for 2021.

With this card, you earn 1 AIR MILES mile for every $12 in purchases, including at Costco.

In addition, the first year is often free and a very attractive welcome bonus is offered to new cardholders. And this credit card comes with excellent insurance.

Here are other excellent credit card choices for earning AIR MILES:

The American Express Cobalt^® Card is the best American Express credit card in Canada in 2021.

With this card, you earn 5 points per dollar on purchases at grocery stores, food deliveries, restaurants and bars, and convenience stores.

That’s a 5% return when you use your points for travel purchases made with your card. And up to 10% when you use your points for airfare with the American Express Fixed Points Travel Program.

And 2 points per dollar on purchases at gas stations and for local transportation. Everywhere else, you will get 1 point per dollar.

In addition, Cardholders benefit from regular promotional offers.

Here are other excellent American Express credit card choices:

The HSBC World Elite^® Mastercard^® is the best Mastercard credit card in Canada for 2021.

With this card, you earn 6 points per dollar for travel and 3 points per dollar everywhere else. In addition, you receive an annual $100 Travel Enhancement Credit each year.

You are also covered for medical emergencies while traveling for 31 days, as well as trip cancellation and interruption.

Furthermore, this card regularly offers a very generous welcome bonus for new cardholders.

Here are other excellent Mastercard credit card choices:

The BMO eclipse Visa Infinite* Card is the best Visa credit card in Canada in 2021.

With this card, you earn 5 points per dollar on grocery, restaurant, bar, home food delivery, gas, and local transportation purchases. This corresponds to a 3.33% return when you redeem your points for travel purchases with BMO Rewards.

Everywhere else it will be 1 point per dollar.

In addition, the first year is often free and a very attractive welcome bonus is offered to new cardholders, as well as a $50 statement credit each year!

Here are other excellent Visa credit card choices:

The HSBC +Rewards™ Mastercard^® is the best low-interest credit card in Canada for 2021.

With this card, you get an interest rate of 11.9% and you can accumulate rewards on your purchases: 2 points per dollar on dining and entertainment purchases and 1 point per dollar on all other purchases.

This credit card is one of the only ones in Canada to offer a price protection service: find your product offered at a lower price within 60 days of your purchase and the difference will be refunded to you, up to $500 per eligible item!

Here are other excellent low-interest credit card choices:

The BMO CashBack Mastercard is the best credit card for balance transfers in Canada for 2021.

With this card, you get an interest rate of 1.99% for 9 months with a 1% fee on the transferred amount.

Here are other excellent credit card choices for balance transfers: