Wealthsimple

Below are practical Canadian picks—cards/brands that are widely discussed, widely available, and actually used in Canada. Credit cards are very common here: Payments Canada reported 7.5 billion credit-card transactions in 2024 and 112 million credit cards in circulation, so rewards cards are mainstream if you pay in full. (payments.ca)

Best credit cards in Canada — short list

My quick recommendations

If you want one card only

• Rogers Red World Elite Mastercard if you’re a Rogers/Fido/Shaw customer and want no annual fee.
• MBNA Rewards World Elite Mastercard if you want strong rewards but prefer Mastercard acceptance.
• Amex Cobalt if your regular stores accept Amex and you spend a lot on groceries/restaurants.

If you want the best 2-card setup

• Amex Cobalt for groceries/restaurants/food delivery.
• Rogers Red World Elite Mastercard or MBNA Rewards World Elite Mastercard as the backup where Amex isn’t accepted.

If you travel

• Scotiabank Passport Visa Infinite+ is the cleanest travel pick because it combines Visa acceptance, no FX fees, and lounge passes.
• If you fly Air Canada often, add or choose TD Aeroplan Visa Infinite.

If you hate annual fees

• Tangerine Money-Back Mastercard
• Rogers Red World Elite Mastercard
• PC World Elite Mastercard
• Triangle World Elite Mastercard

Brands Canadians actually use

For networks, Visa and Mastercard are the safest everyday acceptance choices in Canada, while Amex often has the best rewards but more acceptance gaps. For issuers/products with real customer traction, J.D. Power’s Canadian study ranked American Express, Tangerine, and PC Financial highly among issuers, and highlighted Triangle World Elite Mastercard, Tangerine World Mastercard, PC World Elite Mastercard, and Amex Cobalt in its product rankings. (jdpower.com)

Bottom line:
If I were building a Canadian wallet today, I’d start with Amex Cobalt + a Mastercard backup. For most people, that backup would be Rogers Red World Elite if they’re in the Rogers/Fido/Shaw ecosystem, or MBNA Rewards World Elite if they want stronger non-Amex category rewards.

Finding the "best" credit card here in Canada really comes down to what you want to get out of it—whether you are looking to maximize travel points, earn simple cash back, or find a card that actually works at places like Costco and No Frills (which don't accept American Express).

The following breakdown highlights the top credit cards Canadians actually use and keep in their wallets, categorized by how they fit into daily life.

1. The Undisputed King of Rewards: American Express Cobalt® Card

If you want to earn points fast and love to travel, the Amex Cobalt is widely regarded as the best overall credit card in Canada.

• The Earn Rates: 5x points on eats and drinks (groceries, dining, food delivery), 3x on streaming, 2x on travel and transit, and 1x on everything else.
• Why people love it: Amex Membership Rewards (MR) points transfer 1:1 to Air Canada Aeroplan and British Airways Avios. This makes it incredibly easy to book flights.
• The Catch: Amex isn't accepted everywhere in Canada. Major grocery store chains owned by Loblaws (like Real Canadian Superstore and No Frills) and Costco do not take Amex, meaning you will need a backup Visa or Mastercard in your wallet.
• Annual Fee: $155.88 ($12.99 monthly).

2. The Best No-Fee & Costco Card: Rogers Red World Elite® Mastercard®

If you are looking for a straightforward cashback card with no annual fee—or you need a high-earning Mastercard to use at Costco—this is a massive favorite.

• The Earn Rates: 2% unlimited cash back on all everyday purchases if you have at least one qualifying service with Rogers, Fido, Shaw, or Comwave.
• Why people love it: If you redeem your earned cash back against your Rogers, Fido, or Shaw bill, you get a 1.5x redemption bonus—bringing your cash back rate to an effective 3%. For a no-fee card, a flat 2% to 3% return is almost unheard of in Canada. It also works seamlessly at Costco!
• The Catch: To get the 2% rate, you must remain a customer of the Rogers ecosystem (otherwise the base rate drops to a standard cashback rate).
• Annual Fee: $0.

3. The Best Flat-Rate & No-FX Card: Wealthsimple Visa Infinite +

For a long time, Canadian premium credit cards were dominated by the "Big Five" banks. Wealthsimple shook up the space with its Visa Infinite + and Visa Infinite Privilege cards.

• The Earn Rates: A flat 2% cash back on everything. No categories to keep track of and no earning caps.
• Why people love it: It has no foreign transaction (FX) fees (saving you the typical 2.5% fee when buying in USD or traveling). Furthermore, the annual fee is completely waived if you have Premium or Generation status with Wealthsimple (over $100k in assets) or set up a monthly direct deposit of $4,000+.
• The Catch: If you don't meet the asset/direct deposit requirements, the monthly fee is $20 ($240/year), which diminishes its value.
• Annual Fee: $240 (waived for qualified Wealthsimple clients).

4. The Best Big-Bank Travel Card: Scotiabank Passport® Visa Infinite Card*

If you want a reliable travel card from a traditional big bank that has excellent widespread acceptance, this is the gold standard.

• The Earn Rates: Earns Scene+ points (3x at Empire-owned grocery stores like Sobeys, Safeway, and FreshCo; 2x on dining, entertainment, and transit).
• Why people love it: It is one of the very few big-bank credit cards in Canada that offers no foreign transaction fees. It also comes with 6 complimentary airport lounge passes per year via DragonPass, which easily offsets the annual fee.
• The Catch: Scene+ points are highly flexible, but they don't transfer to frequent flyer programs like Aeroplan. They are best used to wipe out travel purchases on your statement or to pay for groceries at Sobeys/Safeway.
• Annual Fee: $150.

5. The Best Cash Back Card for Families: Scotia Momentum® Visa Infinite Card*

If you don't care about points and just want hard cash to help pay for groceries and bills, this is a top-tier choice.

• The Earn Rates: 4% cash back on groceries and recurring bill payments (like phone bills, insurance, and streaming subscriptions); 2% on gas and transit; 1% on everything else.
• Why people love it: It targets the two largest household expenses for most Canadian families: groceries and monthly recurring bills. Plus, Scotiabank allows you to redeem your cash back at any point throughout the year rather than making you wait for a single annual payout.
• The Catch: The 4% and 2% rates are capped at $25,000 in annual spending per category, after which it drops to 1%.
• Annual Fee: $120.

6. The Best for Air Canada Loyals: TD® Aeroplan® Visa Infinite Card*

If you fly with Air Canada even once or twice a year, having an Aeroplan-co-branded card pays for itself.

• The Earn Rates: 1.5x points on eligible gas, groceries, and Air Canada purchases; 1x on everything else.
• Why people love it: Your first checked bag is free for you and up to 8 companions on the same Air Canada booking. Since checked bags usually cost around $35+ each way, a single round-trip flight with a partner completely covers the annual fee. It also offers excellent travel insurance.
• The Catch: The earn rates on daily spending are lower compared to the Amex Cobalt (which can transfer points to Aeroplan anyway).
• Annual Fee: $139 (often rebated for the first year with a welcome promotion).

Summary: Which one should you get?

• For maximum travel points: Get the Amex Cobalt.
• For a no-fee powerhouse (Costco-friendly): Get the Rogers Red World Elite Mastercard (if you have Rogers/Fido/Shaw).
• For simple flat cashback & no FX fees: Get the Wealthsimple Visa Infinite +.
• For travel perks (lounge access & no FX): Get the Scotia Passport Visa Infinite.
• For simple family budget cashback: Get the Scotia Momentum Visa Infinite.