best rewards credit card

Choosing credit cards in Canada can often create analysis paralysis because there are so many options out there. From cash back credit cards, to low interest rates, travel rewards, etc.

It can be overwhelming to try and pick the perfect card for you. Not to worry, we combed through the credit cards offered in Canada to find you the crème de la crème of credit cards and ensure you get the best bang for your buck!

Category
Card
Best Travel Rewards Card
TD® First Class Travel® Visa Infinite Card
Best CashBack Card
Tangerine Money-Back Card
Best Rewards for Everyday Spending
American Express Cobalt Card
Best Rewards for Students
ScotiaBank Scene Visa Card

Best Travel Rewards Credit Card

TD® First Class Travel® Visa Infinite Card

Best Travel Rewards Card
Credit Score: 650 - 900
  • Credit score: Good to Excellent
  • Minimum personal income: $60000
  • Annual Fees: $120 (First year free)
  • Interest Rate: 19.99% on purchases
Which Credit Cards Have the Best Reward Programs in 2020? 1

Details

In the market for travel rewards card, the TD® First Class Travel® Visa Infinite Card is a clear winner. Users earn 9 TD Points per $1 on travel booked online through the ExpediaforTD website and 3 TD Points per $1 on everyday purchases. It comes with discounts ranging from 5-10% on Avis and Budget rentals, concierge services. In addition to this it comes with travel insurance benefits, from medical to travel accident insurance.

Why we love it: Rewards can be applied to any travel expense, not just flights

Best CashBack Card

Tangerine
Money-Back Card

Best CashBack Card
Credit Score: 600 - 719
  • Credit score: Fair to Good
  • Minimum personal income: $12000
  • No Annual Fees
  • Interest Rate: 19..95%
Which Credit Cards Have the Best Reward Programs in 2020? 2

Details

Card holders earn 2% Money-Back Rewards on everyday purchases in two 2% Money-Back Categories of their choice, and 0.50% Money-Back Rewards on all other everyday purchases. The cash back rewards are paid monthly and can be added to your account or used to pay off your balance. Being a MasterCard, users also have all the MasterCard perks such as use all over the world.

Why we love it: Card holders get to choose the categories they want to earn 2% cash back in.

Best Rewards Credit Card for Everyday Spending

American Express Cobalt™ Card​

Best Rewards for Everyday Spending
Credit Score: 600 - 719
  • Credit score: Fair to Good
  • Minimum personal income: $60000
  • Annual Fees: $120 (First year free)
  • Interest Rate: 19.99% on purchases
Which Credit Cards Have the Best Reward Programs in 2020? 3

Details

Cardholders earn five times the points on every $1 spent on eligible food (restaurants, food delivery and groceries included).  Two points for every $1 spent on travel and transit (public-transit, ride-sharing, taxis, certain flight tickets, etc.) And one point for every $1 spent on anything else.

Why we love it: Being an Amex cardholder gives you access to all the Amex services, like access to exclusive events, travel insurance, hotel credits, etc . This make it a great rewards credit card for everyday use!

Best Rewards Card for Students

ScotiaBank Scene™ Visa Card

Best Rewards for Students
Credit Score: 600 - 719
  • Credit score: Fair to Good
  • Minimum personal income: $12000
  • No Annual Fees
  • Interest Rate: 19.99% on purchases
Which Credit Cards Have the Best Reward Programs in 2020? 4

Details

The ScotiaBank Scene Visa Card allows you earn 5 Scene points for every $1 spent Cineplex Cinemas and 1 point for every dollar spent on the card. The card comes with a sign up bonus of 2500 points providing you spend $500 within the first 3 months of acquiring the card

Why we love it: Rewards can be redeemed for free movies, popcorn & soda, combos, WWE events, music downloads, at certain restaurants and more.

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