Milesopedia announces its 2023’s Best Credit Cards in Canada Ranking

It’s an exercise we repeat yearly: ranking the best credit cards in Canada.

As you know, there is no ONE best credit card for everyone – everyone’s needs and abilities differ. That is why we have decided to divide our 2023 ranking into 32 prizes divided into four main categories:

• Daily life
• Travel
• Customer profile
• Milesopedia Network

On this page, you can browse the 2023 ranking of the best credit cards in Canada. Below is a summary.

Note that this ranking differs from our ranking of the best credit card OFFERS, updated monthly. The latter lets our readers know the best credit card offers available when they wish to apply for a product. The ranking of the offers of the month is available here:

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.

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.

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:

• Students will need a card to save money on their day-to-day expenses and offer benefits designed 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 (such as cards offering points applicable to Airbnb spending, for example);
• Snowbirds will require credit cards with no currency conversion fees;
• etc.

This is also where the best cards for entrepreneurs are listed.

Here are the best credit cards in Canada in 2023 by customer profile.

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 it is made up of consumers looking for a financial product – we can determine which credit cards are the most consulted and, in fine, the most applied for within our“Milesopedia network”:

We decided to break down this part of the ranking according to the top 3 rewards programs in Canada and the top 3 credit card networks (American Express, Mastercard, Visa).

Here is the ranking of the best credit cards in Canada in 2023 according to Milesopedia (Milesopedia.com and affiliated partners).