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Top 8 best rewards cards in Canada: enjoy the benefits!

Cashback, points, insurance, welcome bonus, introductory APR, special treatment, and much more. The best rewards cards in Canada reach the next level. Are you ready to be their cardholder?

Find out the best rewards cards in Canada and their services 

These credit cards reach the next level. Read the review now! Source: Canva.
These credit cards reach the next level. Read the review now! Source: Canva.

The competition is on! And you are the judge! The best rewards cards in Canada are here, and they offer more than rewards. No wonder they’ve received awards as the top cards in the market.

Although it is a tough competition, you don’t need to worry because we are going to help you! So, you can decide wisely which one fulfills your needs and fits perfectly in your wallet.

10 best credit cards for travelling!

If you want to explore new places or simply need a hand with traveling expenses, here are the 10 best credit cards for travelling!

What is a rewards credit card? 

So, what is a rewards credit card? Source: Unsplash.
So, what is a rewards credit card? Source: Unsplash.

A rewards credit card is a card that gives you something when you use it. That is, when you go out and purchase at a restaurant, for example, you receive points or cashback according to the reward program featured by the card.

Plus, some credit cards go further. Besides the rewards, they provide you with convenience, agility, protection, and introductory offers that can be pretty good! 

TOP 8 best rewards credit cards: start 2022 with a lot of advantages 

 The top 8 rewards cards in Canada are here waiting to fit in your wallet! Source: Pexels.
 The top 8 rewards cards in Canada are here waiting to fit in your wallet! Source: Pexels.

If 2021 wasn’t your year of prosperity, 2022 will be! But, first of all, you need to have the right tools to manage your finances effectively.

A credit card may be a stumbling block in your life or a jump to the next level. That’s why you need to search with wisdom to decide which card can be your trampoline. 

And we provide you with the information you need to make this decision and start 2022 with a lot of advantages. 

Check out now the top 8 rewards cards in Canada.

American Express Cobalt® Card

America Express features Cobalt®, one of the best overall credit cards in the market according to research. 

The points you earn can be redeemed as a statement credit or for travel. But, note that it charges a 2.50% foreign transaction fee.

See right below the perks you get by signing up for this card.

Sign-up bonus20,000 points after spending $3,000 on purchases in the first 3 months;
2,500 points after spending $500 on every month in the first year
Annual fee$155.88 annually or $12.99 monthly
RewardsUp to 5 points on every dollar spent on eligible purchases
Other perksSpecial access to events, lounges, experiences, privileges, and more with Cobalt Perks program;
Mobile, shopping, and travel coverage;
Amex benefits such as American Express Travel Online and Amex Offers
APRFrom 20.99% to 21.99%

How to apply for the American Express Cobalt®?

American Express Cobalt® credit card is one of the best rewarding cards in Canada. Learn how to apply for it now and enjoy its perks!

Scotiabank Gold American Express®

Scotiabank features the Gold American Express®, an award-winning credit card, as well. 

But, unlike de Amex Cobalt®, it doesn’t charge any foreign transaction fees, and it offers an introductory APR with no annual fee in the first year.  

However, it requires a good credit score for the application and a minimum personal income of $12,000.

Sign-up bonusUp to 40,000 bonuses plus points in the first year;
No annual fee charged in the first year, and an intro APR of 0% for the first 6 months
Annual fee$120
RewardsUp to 5 points on every $1 CAD spent on eligible purchases
Other perksSpecial access to events, lounges, and offers through Amex Offers, Amex Front of the Line and American Express Invites programs;
Concierge services;
Travel and emergencies insurance, purchase security, and extended warranty
APRFrom 19.99% to 22.99%

How to apply Scotiabank Gold American Express®?

Scotiabank Gold American Express® is a credit card full of rewards and bonuses. Learn how to apply for it today and enjoy its benefits!

Pre-approved credit cards for low credit score available now

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PC Financial® World Elite Mastercard®

The President’s Choice Financial® Elite is a card full of perks with no annual fee. And you can get a great introductory offer by applying to one.

On the other hand, it requires a minimum personal income of $80,000/year or a minimum household income of $150,000/year for the application.

Sign-up bonus20,000 points or $20;
Promotional sign-up bonus of 0.97% APR on balance transfers for 6 months;
21 days of interest-free on new purchases
Annual fee$0
RewardsUp to 45 points for each dollar spent on eligible purchases
Other perksExtended warranty plus Purchase assurance;
Travel Emergency Medical Insurance; 
Car Rental Collision and Loss Damage Waiver Insurance; 
ID Theft Assistance; 
24/7 Concierge service
APRFrom 20.97% to 22.97%

How to apply PC Financial® World Elite Mastercard®

PC Financial® World Elite Mastercard® credit card charges no annual fee. Plus, it gives you rewards on purchases. Check out how to apply!

Conexus Cash Back Mastercard® 

If you spend a lot of money at gas stations, Conexus Cash Back might be the right card for you. That is, on each dollar spent with gas, you earn double points.

Plus, you don’t have to worry about annual fees at all.

Check out all you can get with this Mastercard®!

Sign-up bonus3.9% intro APR on balance transfers for six months
Annual fee$0
Rewards2 points for each dollar spent at gas stations
1 point for each dollar spent on all other purchases
Other perksPurchase and fraud protection;
Extended warranty;
Telephone insurance
APR19.90%
logo Conexus fundo azul

How to apply for a Conexus Cash Back Mastercard®?

The Conexus Cash Back Mastercard® credit card gives you one point-reward for each dollar spent and doubles it on gas station expenses. Apply now!

MBNA Rewards Platinum Plus® Mastercard®

MBNA starts with no annual fee. Good, right? And it is not only that. You can get points on purchases and insurance to feel peace of mind.

However, you should know that it requires at least a good credit score for the application.

Sign-up bonusUp to 10,000 bonus MBNA Rewards Points
Up to 5,000 bonus points after your first eligible purchase in the first 90 days, plus check for paperless e-statements
Annual fee$0
RewardsUp to 2 points for every $1 spent on eligible purchases
Other perksTelephone insurance; 
Extended warranty and purchase assurance;
Coverage and support in emergencies
APRFrom 19.99% to 22.99%
Cartão MBNA Rewards Platinum Plus® Mastercard® fundo branco

How to apply MBNA Rewards Platinum Plus®

MBNA Rewards Platinum Plus® Mastercard® credit card gives you points and more with no annual fee. See how to apply online now!

BMO CashBack® Mastercard®

BMO features the CashBack® Mastercard®, a credit card with no annual fee and real cash back rewards.

Plus, it gives you an irrefutable welcome offer. But it requires a minimum income of $15,000 for the application. 

Sign-up bonusUp to 5% cash back in the first 3 months;
Intro APR of 1.99% on balances for 9 months
Annual fee$0
RewardsFrom 0.5% to 3% cash back
Other perksExtended warranty
APRFrom 19.99% to 22.99%

How to apply for a BMO CashBack® Mastercard® card?

BMO CashBack® Mastercard® credit card features cash back, welcome bonus, and more. See how to apply for one now and enjoy its benefits!

AMEX SimplyCashTM Preferred

If you are searching for cash back, there it is! Amex presents one of the best cash back credit cards in the market.

As it says its name, the rewards program is simple, and you can get special access to Amex experiences and events.

Sign-up bonus10% cash back in the first 4 months, up to $400
Annual fee$99
Rewards2% cash back on all purchases
Other perksFree cards for Authorized Users;
Travel insurance; 
Car rental damage coverage; 
Access to Amex Invites program 
APRFrom 19.99% to 21.99%

Tangerine Money-Back Credit Card

Last but not least, this orange credit card features cash back on all purchases. Also, you can choose the categories you want to earn the highest tier of money-back.

Although it charges a 2.5% foreign transaction fee, it doesn’t have annual fees.

See the details below. 

Sign-up bonusExtra 15% back, up to $150, when spending up to $1,000 in the first 2 months 
Annual fee$0 
RewardsUp to 2% cash back on eligible purchases;
0.5% cash back on all other purchases
Other perksFree cards for Authorized Users
APR19.95%

How to apply for a Tangerine Money-Back card?

Get up to 2% money-back with no annual fee featured by the Tangerine Money-Back credit card. Learn how to apply for it!

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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