Your personal income is nothing without credit cards. This article throws light on the top 15 most secured credit cards Canada. These credit cards can satisfy your online shopping, dining, flight bookings, and other household utility purchases by carefully managing your monthly spending.
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, will bring you the different kinds of credit cards available for Canadian residents.
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
1. American Express Cobalt
American express cobalt card is one of Canada’s most used credit cards when it comes to 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 exceptional welcome bonus points and supplementary cards for zero annual fees. However, the offers and deals are frequently modified according to the changing times.
2. Scotiabank Gold American Express
Scotia Gold American Express is considered the best for rewards credit cards Canada. The credit card has successfully taken the light with zero transaction fees and exciting offers on travel insurances. It requires a minimum annual income of $12,000 and has an annual fee of $120.
This card also offers ‘Scotia Rewards’ on eligible grocery purchases, gas, dining, and transit purchases. Canadian travelers are highly attracted to the flexible rewards programs and welcome bonus points offered by it.
Best Points Optimizer Credit Cards Canada
3. American Express Gold Rewards Card
American Express Gold Rewards Card has received appreciation from Canadian card-holders 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.
The card holds an annual fee of $150 and a lesser annual fee for each subsequent Additional Gold Rewards Card. You also cannot ignore the welcome bonus points offered by the credit card. 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.
Best Cashback Credit Cards Canada
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 annual 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.
5. BMO Cashback MasterCard
BMO CashBack MasterCard has been the best “no annual fee cash back credit card’. It gives amazing cashback offers on grocery purchases such as foods and other essential stuff and recurring bills such as subscriptions or streaming services. You can redeem your cashback for as little as $1 whenever you want.
It requires a minimum annual income of $15,000. People are getting their BMO Cash Back credit cards because of their excellent welcome bonus cashback offers. The most amazing thing is these cash back rewards do not expire as long as the account is active. There are special offers for Quebec residents.
Best Balance Transfer Credit Card
6. Tangerine Money-Back Credit Card
Tangerine Money-Back Credit Cards are also ‘no annual fee cash back credit cards Canada.’ It provides unlimited money-back rewards on personalized categories (two categories). It gives extra rewards for a 3rd category as well 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 card-holder 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.
7. BMO Air Miles World Elite
BMO Air Miles World Elite has made its name as the best Air Miles credit cards 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 putting any impact on 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.
Best Retail/Store Credit Cards Canada
8. PC Financial World Elite MasterCard
PC Financial World Elite MasterCard provides exceptional rewards to regular President’s Choice shoppers. 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, 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 of having the highest customer recommendation score.
Best Low-Interest Credit Card
9. MBNA True Line Gold MasterCard
MBNA True Line Gold MasterCard is a low-interest balance transfer credit card with about 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.
Best No-Fee Credit Card For Travel Rewards
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 your flexible rewards, cash backs, gift cards, charitable donations, and travel.
Best No-Foreign Transaction Fee Credit Cards Canada
11. Home Trust Preferred Visa
Home Trust Preferred Visa is also a ‘no fee’ credit card with zero foreign exchange fees. Along with providing excellent cashback rewards and purchase security, it also follows the Visa Zero Liability Policy. You can expect guaranteed hotel reservations whenever asked for. It also makes online banking more efficient and easier.
Home Trust Preferred Visa credit cards Canada are widely accepted in over 200 countries for their secure and reliable method of payments and banking.
Best Secured Credit Card
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 which in turn increases your credit rating. You are also able to control your spending limit according to the amount you deposited.
It provides flexible and convenient methods of payment for online shopping. You are free to choose one from ‘zero annual fees’ or ‘low interest.’ These offers are not available for Quebec residents.
Best Travel Credit Cards Canada
13. TD First Class Travel Visa Infinite
TD First Class Travel Visa Infinite Card is the best choice when it comes to 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 annual Priority Pass membership, these cards are widely used in over 200 countries.
14. BMO World Elite MasterCard
BMO World Elite MasterCard attracts lots of 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.
For Dining and Transit
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.
The card requires a minimum income of $60,000 for individuals and $100,000 for households. You also get exciting welcome bonus points. Special offers are available for Quebec residents.
Canada’s above-mentioned credit cards have successfully satisfied many Canadians by giving exceptional offers on online purchases, foreign transaction fees, and net purchases as well within your credit limit. Many of these promise cashback, welcome bonus, and more rewards according to your earning and spending. Protection against theft, trustworthy policies and perks, and providing valuable insurances are all equally given importance 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 frauds.