Best Credit Cards in Canada 2025

2025 brings new challenges and opportunities for Canadian consumers. With interest rates stabilizing and inflation cooling slightly, credit cards are playing a bigger role in managing cash flow and earning rewards on everyday spending.

We reviewed over 100 cards from major banks and issuers to bring you this comprehensive guide. Our selections are based on real-world value, not just headline offers.

How We Evaluate Credit Cards

We look at several key factors when ranking cards:

• Value of the welcome bonus after subtracting any annual fee
• Ongoing earn rates on common Canadian spending categories (groceries, gas, dining, transit)
• Flexibility of rewards redemption
• Quality of insurance and perks (travel, purchase protection, mobile device)
• Ease of use and customer service reputation
• Credit score requirements and approval odds

Best Overall Card: American Express Cobalt® Card

The Cobalt remains unmatched for flexible spending. You earn:

• 5 points per $1 on eats and drinks (restaurants, bars, food delivery, and many grocery stores)
• 3 points per $1 on select streaming services
• 2 points per $1 on travel, ride shares, and gas
• 1 point per $1 on everything else

The $12.99 monthly fee ($155.88 annually) is easily offset for anyone spending $300+ on food monthly. Points transfer to Aeroplan, Marriott Bonvoy, and British Airways at 1:1.

Additional benefits include comprehensive travel insurance, purchase protection, and Amex Offers for extra savings.

Best Premium Travel Card: TD Aeroplan Visa Infinite Card

For Air Canada loyalists, this card offers:

• Up to 1.5 points per $1 on gas, groceries, and direct Air Canada purchases
• Free first checked bag for you and up to 8 companions
• Annual companion pass after $25,000 spend
• Strong travel insurance including trip cancellation and delay

The $139 annual fee is waived the first year in many offers.

Best Cash Back Card: BMO CashBack World Elite Mastercard

Earn high rates with no complicated points:

• 5% on groceries (up to $500/month)
• 4% on transit including rideshares
• 3% on gas and EV charging
• 2% on recurring bill payments
• 1% on all other purchases

Cash back can be redeemed anytime in $25 increments.

Best No-Annual-Fee Card: Tangerine Money-Back Credit Card

Choose 2 (or 3 with direct deposit) categories for unlimited 2% cash back. Common options include groceries, gas, dining, recurring bills, and drugstores. All other spending earns 0.5%.

Cash back paid monthly – perfect for immediate use.

Best Student Card: BMO eclipse rise Visa Card

No annual fee with strong rewards on lifestyle categories popular with students (dining, streaming, transit).

Best Low-Interest Card: MBNA True Line Mastercard

One of the lowest ongoing purchase rates in Canada, plus long balance transfer promotions.

Tips for Maximizing Credit Card Rewards in 2025

1. Always pay your balance in full to avoid interest charges that wipe out rewards value.

2. Use the right card for each purchase category.

3. Take advantage of welcome bonuses but don't apply for too many cards at once.

4. Track your spending to ensure you're earning maximum rewards.

5. Review your cards annually – better offers come out regularly.

The right credit card strategy can easily put $500–$2,000 back in your pocket each year through rewards and perks.