credit cards Canada credit cards Canada

Fifteen Most Useful Credit Cards Canada Has To Offer

Credit cards can satisfy your online shopping, dining, flight bookings, and other household utility purchases by carefully managing your monthly spending. However not every card is secured and fraud-proof. 

Also, How often are you worried about your credit score, credit history, and credit limit of your credit card account? These factors, along with some interesting rewards and benefits. We bring you the different kinds of credit cards available for Canadian residents.

This article throws light on the top 15 most secured credit cards in Canada.  Let us look at the credit card categories to understand the difference in annual fees, credit history, perks, and rewards they offer.

Best Credit Card For Overall Reward Points

Credit cards
Photo by from Shutterstock

1. American Express Cobalt

American express cobalt card is one of Canada’s most used credit cards for getting travel rewards.

 With a monthly fee of $10 per month (that makes a $120 total annual fee), this card provides points on eligible restaurants, flight purchases, and transit.

You can also get unique welcome bonus points and supplementary cards for zero annual fees. However, the offers and deals are frequently modified according to the changing times.

1.1 What is the limit on Amex Cobalt?

American Express Canada has introduced a $30,000 annual purchase limit for the 5-point/dollar categories of the American Express Cobalt Card.
Credit Bureau In Canada
Source: Shutterstock

2. Scotiabank Gold American Express

Scotia Gold American Express is considered the best for rewards credit cards in Canada. 

The credit card has taken the light with zero transaction fees and exciting offers on travel insurance. It requires a minimum annual income of $12,000 and has a yearly fee of $120.

This card also offers ‘Scotia Rewards’ on eligible grocery purchases, gas, dining, and transit purchases. Canadian travellers are highly attracted to the flexible rewards programs and welcome bonus points offered by it.

2.1 Is Scotiabank’s gold American Express card worth it?

With generous rewards, flexible redemption rules, and supreme travel insurance coverage, the Scotiabank Gold American Express Card is among Canada’s top rewards credit cards. Earning points is easy since you’ll get an accelerated earning rate on many everyday spending categories, like groceries.

2.2 Does Scotiabank gold Amex have lounge access?

Enjoy a preferred discount on the Priority Pass membership and access over 1200 VIP lounges worldwide as a Scotiabank Gold American Express Cardholder.

3. American Express Gold Rewards Card

American Express Gold Rewards Card has received appreciation from Canadian cardholders for its great offers on flight purchases, car rentals, hotels, cruises, and many more. 

It offers travel benefits and gives points on eligible gas, grocery, and pharmacy purchases. If you are a resident of Canada and have a good credit history, then get yourself Amex Gold Rewards Card and redeem the fulfilling rewards and gift cards. 

The card holds an annual fee of $150 and a lesser annual fee for each subsequent Additional Gold Rewards Card. You also must recognize the welcome bonus points the credit card offers.

3.1 Is it good to have a gold American Express card?

The American Express Gold is a fantastic option for earning travel rewards on dining out and shopping at U.S. supermarkets. It’s perfect for foodies who can benefit from the bonus benefits related to dining. Despite the $250 annual fee, cardholders can easily make up for it with moderate spending and the card’s annual credits.
Credit bureau in Canada
Photo by CardMapr on Unsplash

4. CIBC Dividend Visa Infinite Card

CIBC Dividend Visa Infinite Card is best for gas and grocery purchases. It can give you cashback offers on eligible purchases like gas, grocery, dining, recurring bill payments, and transit through online banking. 

Not only that, but it also provides insurance benefits, from mobile device coverage to travel accident insurance. The card holds an annual fee of $120 and about a $30 yearly fee for each additional card (up to 3). 

It requires a minimum annual income of $60,000 for individuals and $100,000 for households. There are also special offers for Quebec residents.

4.1 What is the annual fee for CIBC Dividend VISA?

CIBC Dividend Card. Get the reliable, everyday-use card that earns you cash back on daily essentials for no annual fee. Get up to 10 cents off per litre at participating gas stations with Journey Rewards.

4.2 Is CIBC Visa Infinite a good card?

Given its high cash-back rates on gas and groceries, the CIBC Dividend Visa Infinite Card is especially well-suited for families and long-distance commuters. Comparable cash-back cards with similar rewards charge an annual fee of $120.

5. BMO Cashback MasterCard

BMO CashBack MasterCard has been the best “no annual fee cash back credit card‘. 

It offers amazing cashback on grocery purchases such as food and other essential stuff and recurring bills such as subscriptions or streaming services

You can redeem your cashback for as little as $1 whenever possible. People are getting their BMO Cash Back credit cards because of their excellent welcome bonus cashback offers. 

It requires a minimum annual income of $15,000. The most amazing thing is these cashback rewards do not expire as long as the account is active. There are special offers for Quebec residents.

Bank statements
By: Jason Cox on Shutterstock

6. Tangerine Money-Back Credit Card

Tangerine Money-Back Credit Cards are also ‘no annual fee cashback credit cards Canada.’ It provides unlimited money-back rewards on personalized categories (two categories). 

It also gives extra rewards for a 3rd category when you transfer rewards into a Tangerine account. You can track your spending and organize the transactions with their easy online banking facilities.

The card requires a gross annual income of $12,000 or more, and the cardholder must be a permanent resident of Canada with clear credit history. These cards are widely accepted in over 210 countries at more than 23 million locations.

6.1 What credit score is needed for Tangerine’s money-back credit card?

A Tangerine credit card requires a credit score of between 670 and 850. Is there travel insurance with the Tangerine credit card? Tangerine provides cardholders with many great benefits but does not provide travel insurance. Click here to learn more about credit card insurance.

7. BMO Air Miles World Elite

BMO Air Miles World Elite has made its name the best Air Miles credit card in Canada. It gives amazing Air Miles cash rewards on credit card purchases and at Air Miles Partner stores, along with dream rewards and travel rewards. 

It also provides free access to Boingo Wi-Fi hotspots around the world. These secured credit cards ensure safe online banking without impacting your credit score.

The card holds an annual fee of $120 and requires a minimum income of $80,000 for individuals or $150,000 for households. You can also enjoy the Mastercard Travel cashback rewards and other benefits. Special offers are available for Quebec residents.

7.1 Does BMO World Elite have lounge access?

With four free passes per year and complimentary membership in Mastercard Airport Experiences provided by LoungeKey.

Credit cards
Photo by from Shutterstock

8. PC Financial World Elite MasterCard

PC Financial World Elite MasterCard offers regular President’s Choice shoppers exceptional rewards. With zero annual fees, you can earn PC Optimum points per $1 at Shoppers Drug Mart, PC grocery stores, Esso, Mobil, and PC travel. 

Along with this, it also offers to travel emergency medical insurance and rental car insurance and protects your account from credit card fraud.

It requires a minimum income of $80,000 for individuals and $150,000 for households. PC Financial holds a reputation for having the highest customer recommendation score.

9.1 Is PC Financial Mastercard a real credit card?

The PC Financial Mastercard is less adaptable as a store credit card than a typical cash-back credit card. Only purchases made at merchants connected to PC are eligible for PC points redemption. However, the earn rate and redemption policy make it a serious rival for individuals who frequently spend at PC stores.

9. MBNA True Line Gold MasterCard 

MBNA True Line Gold MasterCard is a low-interest balance transfer credit card with a 24.99% cash advance rate. 

With an annual fee of as low as $39, fraud protection, and 24/7 customer service, you can also get amazing offers on balance transfers and other purchases.

The True Line Gold cardholders also get impressive insurance coverage for a low annual fee. The card requires a good credit history without any bankruptcies. These cards are available for Quebec residents only.

Credit cards
Photo by from Shutterstock

10. MBNA Rewards Platinum Plus MasterCard

MBNA Rewards Platinum Plus MasterCard is a ‘no fee’ credit card offering a strong sign-up bonus. 

You can earn points per $1 spent on eligible restaurants, digital media, household utility purchases, and other eligible purchases. You can also get an exciting birthday bonus and welcome bonus points.

The card also provides mobile device insurance and extended warranty benefits. You can easily redeem flexible rewards, cash backs, gift cards, charitable donations, and travel.

11.1 How do I redeem my MBNA Mastercard points?

A: You can redeem your points by calling the MBNA rewards Redemption Centre at 1.877.877.3703 or by logging into mbna.ca and selecting the Rewards page. The centre is open from 8 a.m. to 10 p.m. on Monday through Friday and from 8 a.m. to 8 p.m. on Saturday (Eastern Time).

11. Home Trust Preferred Visa

Home Trust Preferred Visa is a ‘no fee’ credit card with zero foreign exchange fees. 

It also follows the Visa Zero Liability Policy and provides excellent cashback rewards and purchase security. You can expect guaranteed hotel reservations whenever asked for. It also makes online banking more efficient and easier.

Home Trust Preferred Visa credit cards in Canada are widely accepted in over 200 countries for their secure and reliable method of payment and banking.

12.1 How long does it take to get a Home Trust VISA?

Instant approval is not available for Home Trust’s credit cards. It may take up to four weeks to learn whether you’ve been granted one of their credit cards.

12. Home Trust Secured Visa

Home Trust Secured Visa is widely accepted in over 200 countries to build and rebuild your credit rating. 

It keeps you up-to-date with your payments, increasing your credit rating. You can also control your spending limit according to the amount you deposited.

It provides flexible and convenient methods of payment for online shopping. You can choose from ‘zero annual fees’ or ‘low interest.’ These offers are not available for Quebec residents.

Credit cards
Photo by from Shutterstock

13. TD First Class Travel Visa Infinite

TD First Class Travel Visa Infinite Card is the best choice for travel with benefits. You can earn TD reward points from travel-related purchases and Amazon shipping. 

Then you can redeem these rewards and gift cards whenever you want without any travel blackouts, seat restrictions, or expiration of your TD Points as long as your account is active.

With a $120 annual fee, $60,000 minimum income requirements, and amazing discounts on yearly Priority Pass membership, these cards are widely used in over 200 countries.

14. BMO World Elite MasterCard

BMO World Elite MasterCard attracts many people due to its built-in VIP lounge access at airports. 

It provides great BMO reward points per $1 spent on eligible travel, dining, and entertainment purchases. It also gives unlimited travel coverage and medical protection.

 You can redeem your points for flights, hotels, car rentals, and cruises whenever you want without any extra cost.

The card holds an annual fee of $150. It requires a minimum income of $80,000 for individuals and $150,000 for households. You also get a welcome bonus as free annual passes for airport lounge access.

14.1 Is it hard to get a World Elite Mastercard?

World Elite Mastercards are a class above other premium credit cards. These cards are difficult to qualify for unless you’re a high earner, with personal income criteria of at least $80,000 or a family income threshold of at least $150,000.

Credit cards
Photo by from Shutterstock

15. BMO Eclipse Visa Infinite Card

BMO Eclipse Visa Infinite Card is the best Visa Points Card for dining and transit. It gives amazing BMO points on gas, groceries, dining in or out, and transit purchases.

It also provides mobile device insurance, travel insurance, purchase security, and extended warranty insurance. You can also get Visa Infinite benefits like Luxury Hotel Collection, Dining Series, and Troon Gold benefits.

Special offers are available for Quebec residents. The card requires a minimum income of $60,000 for individuals and $100,000 for households. You also get exciting welcome bonus points.

Closing Thoughts

Whether you are looking for a low-interest credit card, student credit cards, or secured credit card then allow you to get cash advances for your acc or fear and thus learn more about balance transfer fee when you make foreign currency purchases, credit card balance, Canada’s credit, as mentioned earlier cards, has successfully satisfied many Canadians by giving exceptional offers on online purchases, foreign transaction fees, and net purchases within your credit limit. 

Many promise cashback, welcome bonuses, and more rewards according to your earnings and spending. Protection against theft, trustworthy policies and perks, and providing valuable insurance are all equally important in the above list.

So, don’t wait up! Just choose a suitable credit card for you and your family, from the list above, without worrying about any fraud.

Last Updated on by alishbarehman

Author

Leave a Reply

Your email address will not be published. Required fields are marked *