1.American Express Cobalt® Card
American Express
- 5%Cash back on eligible eats and drinks
- 3%Cash back on eligible streaming subscriptions
- 1%Cash back on all other purchases
Earn up to 15,000 Membership Rewards® points by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card.
Earn 5 points for every $1 on eligible eats & drinks, and 1 point for every $1 on all other purchases.
The American Express Cobalt Card stands out as the top choice because it offers exceptional rewards on dining and groceries, making it ideal for food lovers and frequent diners. With a robust points system and flexible redemption options, it provides significant value for those who spend in these categories.
Pros:
- High rewards on dining and groceries
- Flexible Membership Rewards points
Cons:
- Monthly fee for non-Quebec residents
- High interest rates
2.Scotiabank Gold American Express Card
Scotiabank
- 6%Cash back on groceries
- 5%Cash back on dining
- 3%Cash back on entertainment
- 1%Cash back on all other purchases
Earn up to 50,000 bonus Scene+ points.
Earn 6 Scene+ points per $1 spent at select grocery stores and 1 point on all other purchases.
What sets the Scotiabank Gold American Express Card apart is its high earning potential on groceries and dining, making it a top choice for those who frequently shop in these categories. Additionally, the absence of foreign transaction fees enhances its appeal for travelers.
Pros:
- High rewards on groceries and dining
- No foreign transaction fees
Cons:
- Annual fee
- Limited to specific categories
- 4%Cash back on gas and groceries
- 2%Cash back on all other purchases
Earn a total welcome value of up to CA$350.
Earn 4% cash back on eligible gas and groceries, and 2% on everything else.
The standout feature here is the CIBC Dividend Visa Infinite Card's high cash back rates on gas and groceries, making it an excellent choice for those who prioritize these spending categories. Coupled with a generous welcome bonus, it offers substantial value for new cardholders.
Pros:
- High cash back on gas and groceries
- Significant welcome bonus
Cons:
- Annual fee
- Limited to specific categories
4.Tangerine Money-Back Credit Card
Tangerine
- 2%Cash back in customizable categories
- 0.5%Cash back on all other purchases
Get an extra 10% cash back on everyday purchases in your first 2 months, up to a maximum of CA$100.
Earn 2% cash back in up to three customizable categories and 0.5% on everything else.
This card shines for its flexibility, allowing users to choose their preferred cash back categories, which can lead to significant rewards based on individual spending habits. The no-annual-fee structure further enhances its attractiveness for budget-conscious consumers.
Pros:
- No annual fee
- Customizable cash back categories
Cons:
- Lower cash back on non-category purchases
- Limited to three categories
5.Simplii Financial Cash Back Visa Card
Simplii Financial
- 4%Cash back at restaurants and bars
- 1.5%Cash back on groceries, gas, and drugstore purchases
- 0.5%Cash back on all other purchases
Earn up to CA$100 cash back in your first 3 months when you spend up to CA$500.
Earn up to 4% cash back at restaurants and bars, and 1.5% on groceries, gas, and drugstore purchases.
A key differentiator is the Simplii Financial Cash Back Visa Card's high cash back rate on dining, making it an excellent choice for food enthusiasts. Coupled with no annual fee, it provides a compelling option for those looking to maximize rewards on everyday spending.
Pros:
- High cash back on dining
- No annual fee
Cons:
- Limited to specific categories
- High interest rates
6.TD Aeroplan Visa Infinite Card
TD Canada Trust
- 1.5%Aeroplan points on eligible gas and groceries
- 1%Aeroplan points on all other purchases
Earn a welcome bonus of up to 40,000 Aeroplan points.
Earn 1.5 Aeroplan points per $1 spent on eligible gas, groceries, and Air Canada purchases, and 1 point on everything else.
The TD Aeroplan Visa Infinite Card is particularly appealing for frequent Air Canada travelers, offering substantial rewards on travel-related purchases. Its generous welcome bonus and travel perks make it a strong contender for those looking to maximize their travel rewards.
Pros:
- Great for Air Canada flyers
- High welcome bonus
Cons:
- Annual fee
- Limited to Air Canada and specific categories
- 3%Cash back on groceries
- 1%Cash back on recurring bill payments
Get up to 5% cash back in your first 3 months.
Earn 3% cash back on groceries and 1% on recurring bill payments.
This card excels in providing high cash back on grocery purchases, making it an excellent choice for families and individuals who prioritize grocery spending. The no-annual-fee structure further enhances its appeal for budget-conscious consumers.
Pros:
- No annual fee
- High cash back on groceries
Cons:
- Limited to specific categories
- High interest rates
Did you know?
Good credit score opens solid rewards and low-rate cards, but approval is not guaranteed. Compare interest rates, fees, and issuer minimum score guidelines on this list before you apply.
Final Words
As you navigate the world of credit cards in Canada this September, remember to prioritize your spending habits and rewards preferences. Take time to compare options, ensuring you choose a card that aligns with your financial goals and lifestyle.
Frequently Asked Questions
Earn up to 15,000 Membership Rewards® points by earning 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 on your Card.
You earn 6 Scene+ points per $1 spent at select grocery stores and 1 point on all other purchases, making it a great choice for grocery shoppers.
You earn 4% cash back on eligible gas and groceries, and 2% on everything else, which is ideal for those who frequently spend in these categories.
Yes, many good credit cards come with annual fees, which can range widely. It's important to evaluate whether the rewards and benefits you receive are worth the annual cost based on your spending habits.
Consider factors such as your spending habits, whether you prefer cash back or rewards points, and the annual fee. Research different cards to find one that aligns with your financial goals.
Good credit cards often provide benefits such as rewards points, cash back, travel insurance, and purchase protection. These features can enhance your overall experience and savings.
To apply for a credit card in Canada, you typically need to provide personal information, financial details, and proof of income. Approval can vary based on your credit score and the card issuer's criteria.
To maximize rewards, use your card for everyday purchases in categories that earn higher points or cash back. Additionally, take advantage of any promotional offers and pay off your balance to avoid interest charges.
