The right credit card can pay you back every month, and the wrong one can quietly cost you. In this ranking, annual fees go from $0 to $191.88, and purchase interest ranges from 12.99% to 21.99%.
We reviewed 34 Canadian credit cards and checked each issuer’s official website for fees, interest rates, rewards and income requirements.
The result is one overall winner and the best card for four different needs. Do you travel often, eat out a lot, shop on Amazon.ca or carry a balance from month to month? Your card is below.
Scotiabank Passport Visa Infinite
- No foreign transaction fees.
- Six complimentary airport lounge passes a year.
- Travel insurance included.
- Annual fee of $150, rebated with some Scotiabank chequing packages.
- Requires a personal income of $60,000 or more.
American Express Cobalt
- 5X points at restaurants and on food delivery in Canada.
- 3X points on eligible streaming subscriptions.
- 2X points on gas, transit and ride share.
- Monthly fee adds up to $191.88 a year.
- Charges 2.5% on purchases in foreign currencies.
Amazon.ca Rewards Mastercard
- 5% back for 6 months on your first $3,000 at Amazon.ca, Whole Foods, groceries and restaurants.
- Prime members get 2.5% back on foreign currency purchases.
- Rewards apply directly to Amazon.ca items.
- Outside Amazon.ca and Whole Foods, you earn 1% back.
- Without Prime, Amazon.ca purchases earn 1.5%.
MBNA True Line Mastercard
- Purchase interest of 12.99%, the lowest in this ranking.
- No annual fee.
- Up to 9 authorized users at no extra cost.
- No cash back or points.
- Balance transfers carry a 3% fee, with a $3.50 minimum.
How to pick the right card for you
A card that suits your neighbour may not suit you. Work through these five questions first:
- Will the rewards cover the fee? Cobalt costs $191.88 a year. Earning 5X points on eats and drinks makes sense only if you spend enough there to beat that cost. Tangerine, Amazon.ca and MBNA True Line charge nothing.
- Do you carry a balance? At 21% interest, a $2,000 balance costs about $420 over a year. At 12.99% with MBNA True Line, it costs about $260. If you pay in full every month, the rate matters much less.
- How often do you spend in other currencies? Online shopping in U.S. dollars and trips abroad usually carry a 2.5% fee. Scotiabank Passport removes it, and the Amazon.ca card offsets part of it for Prime members.
- Where does most of your money go? Groceries and gas fit Tangerine’s 2% categories. Restaurants and delivery fit Cobalt. Heavy Amazon.ca shoppers earn more with the Amazon.ca card.
- Do you meet the income requirement? Tangerine asks for $12,000 a year. Passport asks for $60,000 in personal income. Check this before you apply, since a declined application still shows on your credit report.
A practical tip: set up automatic payment of your full statement balance. That way, you collect the rewards without ever paying interest.
How we chose
We looked at 34 credit cards available in Canada, from big-bank travel cards to store cards and secured cards. All figures come from each issuer’s official website, checked in October 2026.
Each card was scored on five criteria:
- Cost of ownership: annual or monthly fee, purchase interest and foreign transaction fees.
- Everyday rewards: cash back or points on groceries, gas, dining and other common spending.
- Travel value: lounge access, travel insurance and costs when you spend abroad.
- Accessibility: minimum income and how easy the card is to qualify for.
- Clarity: how clearly the issuer publishes its fees, rates and reward rules.
Luego elegimos una ganadora por categoría. Los costos cambian seguido, así que confirmá los valores en el sitio del banco antes de pedir tu tarjeta.
Frequently asked questions
What is the best credit card in Canada in 2026?
For most people, the Tangerine Money-Back Credit Card. It has no annual fee, pays 2% in the categories where you spend the most, and accepts incomes from $12,000. Frequent travellers get more value from the Scotiabank Passport Visa Infinite.
Which card should I use when travelling outside Canada?
The Scotiabank Passport Visa Infinite charges no foreign transaction fees. Tangerine and American Express Cobalt add 2.5% to each purchase in a foreign currency, so a $1,000 trip abroad costs $25 more.
Are there good credit cards with no annual fee?
Yes. Tangerine Money-Back, Amazon.ca Rewards Mastercard and MBNA True Line all cost $0 a year. Cobalt charges a monthly fee and Passport charges $150 a year.
What income do I need to get a credit card?
It depends on the card. Tangerine asks for a gross annual income of $12,000 or more. Scotiabank Passport Visa Infinite asks for at least $60,000 in personal income or $100,000 in household income.
Is a low-interest card better than a rewards card?
If you sometimes carry a balance, yes. At 12.99%, the MBNA True Line charges far less interest than cards around 21%. If you pay your balance in full every month, a rewards card earns you more.