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MBNA Platinum Plus® Mastercard®
Apply by Oct 31 and Get a $75 Gift Card
MBNA Platinum Plus® Mastercard® image
Annual fee $0
Rewards rate N/A
Bonus offer 0% Interest rate on balance transfers (first 12 months)
Card details
Network
Mastercard
Provider
MBNA
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
19.99%
Cash advance rate
24.99%
Balance transfer rate
0%
21.99% after 12 months
Free gift card offer

Get a FREE $75 gift card from LowestRates.ca

Card description
  • Simplify your finances while enjoying platinum services
  • You could get 0% interest† on balance transfers✪ for the first 12 full months, with a 1% fee (minimum fee of $7.50)
  • Access to 24/7 customer service
  • Around-the-clock-fraud protection
  • Immediate cash access at over 1 million ATMs worldwide
  • No annual fee
Features
  • 24/7 Customer Service
  • Fraud Protection
American Express Essential Credit Card
American Express Essential Credit Card image
Annual fee $0
Rewards rate N/A
Bonus offer 1.99% Interest rate on balance transfers (first 6 months)
Card details
Network
American Express
Provider
American Express
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
8.99%
Cash advance rate
8.99%
Balance transfer rate
1.99%
8.99% after 6 months
Card description
  • Enjoy a low 8.99% interest rate on purchases
  • Have the flexibility to pay your balance in full or over time
  • Optional Balance Transfer Offer to new Cardmembers – Enjoy a special 1.99% introductory interest rate on transferred balances in the first 6 months if you choose to transfer your other credit card balances to this American Express card at the time of online application. There is no balance transfer fee at the time of application.
  • Access to memorable experiences with American Express InvitesTM
  • Shopping coverage and 24/7 Customer Service
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link.
  • Conditions apply​
Features
  • 24/7 Customer Service
  • Purchase Protection
  • Travel Insurance
MBNA Rewards Mastercard®
MBNA Rewards Mastercard® image
Annual fee $0
Rewards rate 1 Point per $1 spent
Bonus offer 5,000 Bonus points
Card details
Network
Mastercard
Provider
MBNA
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
19.99%
Cash advance rate
24.99%
Balance transfer rate
21.99%
Card description
  • Get MBNA Rewards for your purchases and redeem them for your passions, including travel, merchandise, or even cash back.
  • Earn 1 MBNA Rewards point‡ for every $1 in eligible purchases
  • Receive 5,000 bonus MBNA Rewards points after your first eligible purchase††. That's equivalent to $50 when redeemed for cash back or travel
  • Redeem points‡ for cash back, travel, brand-name merchandise, gift cards from top retailers and charitable donations
  • No annual fee
Features
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Benefits
The Starwood Preferred Guest Credit Card from American Express
The Starwood Preferred Guest Credit Card from American Express image
Annual fee $120
Rewards rate 1 Starpoint per $1 spent
Bonus offer 25,000 Bonus Starpoints
Card details
Network
American Express
Provider
American Express
Credit needed
Excellent
Fees and interest
Annual fee
$120
Purchase interest rate
19.99%
Cash advance rate
21.99%
*provided you make your minimum monthly payments on time
Balance transfer rate
21.99%
*provided you make your minimum monthly payments on time
Card description
  • New Starwood Preferred Guest Credit Card from American Express Cardmembers, earn 25,000 bonus Starpoints® after you charge $1,500 in purchases to your Card in your first three months of Cardmembership. Offer ends on October 18th, 2017.
  • You can earn 2 Starpoints for every dollar of eligible purchases charged to the Card at participating SPG and Marriot Rewards hotels from November 15, 2016 through November 15, 2017.
  • Enjoy a Free Weekend Night Award when you reach $40,000 in purchases each year
  • Experience Starwood Gold Preferred Guest status when you reach $30,000 in purchases each year
  • Redeem Starpoints for Free Nights with no blackout dates at over 1,200 of the world's most desired hotels in nearly 100 countries
  • Use Starpoints for flights on over 150 airlines with no blackout dates with SPG Flights
  • Experience once-in-a-lifetime events with SPG Moments
  • American Express Invites™ opens the door to great music, theatre, dining, film, fashion and shopping experiences. Be among the first to know, and among the first to go!
  • Add a Supplementary Card and the first year’s annual fee is on us. That’s a value of $50.
  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants
  • Annual interest rate 19.99% on purchases and 21.99% on funds advances
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.
  • Conditions apply
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Benefits
SimplyCash Card from American Express
SimplyCash Card from American Express image
Annual fee $0
Rewards rate 5% Cash back (first 6 months)
Bonus offer 1.99% Interest rate on balance transfers (first 6 months)
Card details
Network
American Express
Provider
American Express
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
19.99%
Cash advance rate
21.99%
Balance transfer rate
1.99%
21.99% after 6 months
Card description
  • Optional Balance Transfer Offer to new Cardmembers - Enjoy a special 1.99% introductory interest rate on transferred balances in the first 6 months if you choose to transfer your other credit card balances to this American Express card at time of online application. There is no balance transfer fee at time of application.
  • New SimplyCash™ Card from American Express Cardmembers can earn 5% cash back on all eligible purchases at gas stations, grocery stores and restaurants in Canada (up to $250 cash back) for the first 6 months of Cardmembership1
  • Earn 1.25% cash back on all other purchases and when your Welcome Rate ends
  • No limit to the amount of cash back you can earn
  • No annual fee for Supplementary Cards
  • Access to memorable experiences with American Express Invites®
  • Insurance coverage and 24/7 Customer Service
  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.
  • Conditions apply
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
  • Rental Car Insurance
  • Travel Insurance
Scotiabank®* Gold American Express® Card
Scotiabank®* Gold American Express® Card image
Annual fee $99
Rewards rate 4 Scotia Rewards points per $1 spent on eligible purchases
Bonus offer 30,000 Bonus Scotia Rewards points (after your first purchase)
Card details
Network
American Express
Provider
Scotiabank
Credit needed
Excellent
Fees and interest
Annual fee
$99
Purchase interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description
  • Earn 30,000 Scotia Rewards bonus points after you spend $750 in everyday purchases within the first three months - worth $300 in travel. For accounts opened by July 31, 2017.
  • Earn 4x Scotia Rewards points for every $1 you spend at gas stations, grocery stores, on dining and entertainment
  • Earn one point on all other eligible purchases
  • Extraordinary travel benefits
  • Flexible Point Redemption
  • Use your points to purchase travel online or over the phone through our full-service travel agency. Or book your own travel using your card and go online to redeem points for the purchase.
  • Receive discounts and other special offers on hotels, airfare, car rentals, cruises and vacation packages.
  • Complimentary Concierge Services
  • Access to Priority Pass Lounges worldwide
American Express AeroplanPlus Gold Card
American Express AeroplanPlus Gold Card image
Annual fee $120
Rewards rate 1 Aeroplan Mile per $1 spent
Bonus offer 15,000 Aeroplan Miles
Card details
Network
American Express
Provider
American Express
Credit needed
Excellent
Fees and interest
Annual fee
$120
Purchase interest rate
30%
Cash advance rate
N/A
Balance transfer rate
N/A
Card description
  • New American Express AeroplanPlus Gold Cardmembers, earn 15,000 Bonus Aeroplan®* Miles after you spend $1,500 in your first three months of Cardmembership
  • Earn 1 Aeroplan Mile for every $1 in Card purchases up to $10,000
  • Accelerate your earn rate to 1.25 Aeroplan Miles for every additional $1 in Card purchases over $10,000 annually
  • Earn Aeroplan Miles faster with two free Supplementary Cards – a $100 value ($50 for each additional Supplementary Card*)
  • Travel to more than 1,000 destinations in more than 175 countries worldwide with Air Canada and Star Alliance Member Airlines™**
  • In addition to flights, you can also redeem for hotel stays, car rentals, vacation packages, experiential rewards, merchandise and more
  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Offer subject to change without notice.
  • *As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full.
  • Conditions apply
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Travel Insurance
BMO CashBack Mastercard
BMO CashBack Mastercard image
Annual fee $0
Rewards rate 1% Cash back on all purchases
Bonus offer 4% Cash back (first 4 months)
Card details
Network
Mastercard
Provider
BMO Bank of Montreal
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description
  • Welcome Offer: Get 4% cash back on every purchase (up to $125 cash back) in your first 4 months*
  • Get 1% cash back on all other card purchases with no restrictions*
  • No annual fee*
  • Get up to 25% off rentals at National Car Rental and Alamo Rent A Car*
  • FREE additional cards
  • Extended Warranty*
  • Purchase Protection*
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply Now link for the most up to date information.
  • *Terms and conditions apply
Features
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
  • Rental Car Discounts
American Express Air Miles Credit Card
American Express Air Miles Credit Card image
Annual fee $0
Rewards rate 1 Air Miles reward mile per $20 spent
Bonus offer 500 Bonus Air Miles
Card details
Network
American Express
Provider
American Express
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
19.99%
Cash advance rate
21.99%
*provided you make your minimum monthly payments on time
Balance transfer rate
1.99%
21.99% after 6 months
Card description
  • New American Express® AIR MILES®* Credit Card Cardmembers, earn a Welcome Bonus of 500 AIR MILES®* Reward Miles when you charge a total of $500 in purchases to your Card within your first three months of Cardmembership
  • Earn 1 reward mile for every $15 in Card purchases at AIR MILES®* Sponsors
  • Earn 1 reward mile for every $20 in purchases you charge to the Card everywhere else
  • Optional Balance Transfer Offer to new Cardmembers - Enjoy a special 1.99% introductory interest rate on transferred balances in the first 6 months if you choose to transfer your other credit card balances to this American Express card at time of online application. There is no balance transfer fee at time of application.
  • Shop at participating AIR MILES®* Sponsors across Canada with your American Express AIR MILES Credit Card and your AIR MILES®* Collector Card, and you can earn reward miles twice
  • More than 1000 rewards to choose from! Redeem for a wide range of rewards - everything from electronics to travel and more
  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.
  • Conditions apply
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Travel Insurance
American Express Gold Rewards Card
American Express Gold Rewards Card image
Annual fee $150
Rewards rate 2 Points per $1 spent
Bonus offer 25,000 Membership Rewards points
Card details
Network
American Express
Provider
American Express
Credit needed
Excellent
Fees and interest
Annual fee
$150
Purchase interest rate
30%
Cash advance rate
N/A
Balance transfer rate
N/A
Card description
  • New American Express® Gold Rewards* Cardmembers can earn a Welcome Bonus of 25,000 Membership Rewards® points just by making $1,500 in purchases in the first three months of Cardmembership. That’s enough to redeem for a round-trip Fixed Mileage Flight Reward TM* to almost anywhere in North America.
  • Earn 2 points for every $1 on eligible travel and everyday purchases
  • Charge any travel to your Card then pay for it with points. Your points can even cover taxes and fees!
  • Transfer your points to frequent flyer programs, including Avios and Aeroplan®*
  • 1 Free Supplementary Gold Rewards Card (a $50 value*) to help you earn points faster
  • You can use Apple Pay on your eligible device to pay for goods and services at participating American Express contactless merchants
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link.
  • *As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full.
  • Conditions apply
Features
  • 24/7 Customer Service
  • American Express Hotel Collection
  • Entertainment Benefits
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
  • Rental Car Discounts
  • Rental Car Insurance
  • Travel Insurance
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How it works
  1. Magnifying lens
    Search for cards

    Sort by type to find the card you're looking for.

  2. An assortment of information boxes
    Compare results

    Explore features, rewards and rates, then select your card.

  3. A form being filled in
    Apply online

    Continue to your chosen card's website and submit your application.

  4. An envelope next to a letter and a credit card
    Receive your card

    Once you're approved, your card will arrive in the mail.

Types of credit cards

Hugely popular among affluent and regular consumers alike, these cards allow you to earn points, air miles, cash back, or other types of rewards as you spend.

Annual Fee
$0–$499
Interest Rate
2.99%–19.99%
Credit Score
Good to Excellent
Compare

With low APRs, these cards are perfect for people who carry a balance from month to month. Many offer extra perks and some even have rewards programs!

Annual Fee
$0–$79
Interest Rate
2.99%–14.99%
Credit Score
Good
Compare

Struggling with credit card debt? These cards allow you to transfer balances over from other credit cards so that you can save money on interest.

Annual Fee
$0–$39
Interest Rate
1.99%–19.99%
Credit Score
Good
Compare

Designed with students in mind, these cards offer low fees, easy approval, and rewards that students love. For many Canadians, this will be their first credit card!

Annual Fee
$0
Interest Rate
19.99%
Credit Score
Fair to Good
Compare

You guessed it – these credit cards don’t charge any annual fee, so if you are able to pay off your balance every month, they are effectively free to use!

Annual Fee
$0
Interest Rate
14.99%–19.99%
Credit Score
Good
Compare

For consumers who wish to rebuild or establish their credit history. Depending on your credit score, you may be required to post a security deposit.

Annual Fee
$0–$79
Interest Rate
14.90%–19.99%
Credit Score
None to Needs Improvement
Compare Secured Cards
Compare Guaranteed Cards

Business credit cards have features appealing to small business owners, including expense management tools, extra insurance and the ability to support multiple cardholders.

Annual Fee
$0–$250
Interest Rate
30%
Credit Score
Excellent
Compare

From hockey to baseball to football, and everything in between, Canadians love their sports, and now they can own a credit card that reflects their passion.

Annual Fee
$0–$29
Interest Rate
16.99–19.99%
Credit Score
Excellent
Compare

These cards bill in U.S. dollars. It’s time to say goodbye to currency conversion fees and unpredictable exchange rates when you’re making purchases in the U.S.

Annual Fee
$35
Interest Rate
19.99%
Credit Score
Good
Compare

Compare credit cards at LowestRates.ca

Whether you're looking for travel rewards, balance transfers, cash back, or another credit card perk, you can find the perfect piece of plastic in just seconds at LowestRates.ca. Use our comparison tools above to dial in on the features that matter to you most and check out the exclusive credit card offers only available here.

How do credit cards work?

When you open up a credit card account, your credit card provider extends a line of credit to you so you can make purchases with your new card. Every time you buy something with your card, you spend money borrowed from your credit card provider.

As a cardholder, you agree to repay those funds within a set amount of time and to abide by the terms and conditions set out in your card’s contract. Your contract will describe the interest rates, late fees, surcharges, cash-advance limits, and other conditions that you're held to by using your card.

Once a month, your credit card company will send you a bill outlining all the purchases you made with your credit card, the minimum amount you owe, and the due date for your payment. You can opt to pay a portion of the bill or the full amount — it’s up to you.

If you don't pay your bill in full by the due date, any balance that you carry over into the next billing period will be subject to interest charges. The activity on your account will also be reported to the credit bureaus in Canada, which can boost your credit score over time if you use your card responsibly.

Who should get a credit card?

As more commerce moves online or goes high tech, credit cards are becoming a necessity rather than a convenience. Whether it’s booking an airline ticket, paying for parking, or shopping on your favourite store’s website, credit cards are often the only way to complete a transaction.

That means most working adults should have at least one credit card — provided they can use it responsibly. But if you have trouble controlling your spending or tracking your bills, a credit card might be a bad idea. Too many Canadians are already struggling to pay down their high interest rate debt.

Where can I find the right credit card?

When it comes to credit cards, online comparison websites like LowestRates.ca serve consumers best. We have powerful comparison tools that let you search for cards by category or criteria. So whether you're shopping by rewards, annual fees, interest rates, or credit score, you'll always find the right card. And unlike bank websites, comparison sites let you compare offers from all the major credit card providers in Canada rather than in just one company.

You'll be able to see how the best cards from retail banking giants like Scotiabank compare to the best cards from specialized providers like American Express. You'll also be able to view the best offerings in whichever credit card category you’re interested — you can compare your options side by side. Once you find the right card, just click the “Get Card” or “Apply Now” button, and we'll direct you to a secure application page for that credit card.

What type of credit card should I get?

 

Before you can find the perfect credit card, you need to know how you're going to use it and what kind of consumer you are. Do you pay off your card on time every month? How much do you spend? Do you make use of credit card rewards or is a low interest rate or another credit card feature more important to you? We offer a complete range of credit cards:

How can I benefit by getting a credit card?

 

Let us count the ways.

Convenience

Why carry wads of cash when you can just swipe your credit card and go? Millions of vendors worldwide accept credit cards and using a card is often the only way you can make online transactions.

Cash flow management

Credit cards let you to borrow money, which means you can use them to pay bills or make purchases even if you don’t have the cash immediately on hand. For many Canadians, particularly those just starting out, this is a huge benefit.

Fraud protection

Credit card providers act as an intermediary between you and the merchant. That means credit card charges can be reversed or put on hold if someone tries to defraud you or give you faulty goods.

Features, perks, and rewards

Many credit cards offer perks and rewards just for using them. Depending on the card you choose, you might get fraud protection, travel points, cash back, or special access to concerts and sporting events.

Credit building

It’s a fact — using your credit card responsibly can help you establish and improve your credit score over time. For Canadians looking to boost their credit, nothing works better than using a credit card and promptly paying your bill every month.

Expense monitoring

Credit cards offer a convenient way to track your monthly expenses and monitor your spending. Many cards also itemize your purchases by category so you can see exactly where your money goes each month and how your spending habits change over time.

Cheap to use (in the right hands)

Credit cards don’t cost a lot of money if you use them responsibly. As long as you pay your credit card bills on time and in full, you won’t be charged interest or late fees, making them very inexpensive to use.

Practicality

Nobody wants to be stuck without a way to book a hotel room, buy something online, or pay for parking. Credit cards aren't just a convenience, they’re a necessity. All you have to do is find the right card.

How many credit cards should I have?

While there's no perfect number, most consumers should avoid having more than two or three credit cards at a time. The more credit cards you have, the harder it is to track your bills and make your payments. Many middle to upper income credit card users use a premium, or “cadillac”, credit card that offers lots of perks and rewards and a regular card that serves as a backup.

What do I need to know about my credit card’s terms and conditions?

First, you should understand that once you sign your credit card agreement, the terms are legally binding. And your credit card issuer can change these terms at any time, as long as they provide written notice. So it’s a good idea to carefully read mail from your credit card company and check for changes or updates to your account.

Key terms that all credit card users should know

 
Credit limit

This is the maximum credit balance that can be outstanding on your card. And remember: your credit limit also includes interest and fees.

Annual percentage rate

The APR is the interest rate your card charges on balances, balance transfers, and cash advances carried over from one month to the next.

Fixed or variable APRs

The interest rate on your credit card can either be fixed (it stays the same) or variable (it increases or decreases based on whatever index it follows).

Grace period

This is the amount of time you have to pay for the charges on your credit card before interest begins accruing. Your grace period may be different for each card, but a typical grace period can be as long as 10, 15, or even 30 days.

Minimum payment

The minimum amount of money you're required to pay towards your credit card bill each month. If you can't meet the minimum payment, you'll be charged a late fee and the delinquency might be reported to your credit bureau.

Available credit

The amount of unused credit still available on your credit card. Wondering how your available credit is calculated? Just subtract your outstanding credit card balance from your total credit line.

For a full rundown of the credit card terms you might encounter, you can browse our glossary here.

What are the drawbacks of a credit card?

 

The main drawback of any credit card is that you can use it to spend money you may not have. And if you don't have good financial judgment, you can quickly rack up lots of high interest debt that you can't pay back. Studies show that credit card debt is a major factor in consumer bankruptcies in both Canada and the United States.

We recommend that credit card users never take on more debt than they can reasonably pay back within a few months.

What should I watch out for with a credit card?

You should always keep an eye on the interest rate (known as APR) terms on your card. Credit card APRs are subject to change and many cards offer low introductory rates that reset much higher after a few months.

It's also a good idea to be mindful of how your APR is calculated. Most credit cards take your average daily account balance for the month and charge interest on that figure; others subtract the previous month’s balance from the current month’s balance and charge interest on the remaining amount.

Some credit cards calculate APR using a “two-cycle” method: the average of the last two months’ worth of balances is used. The two-cycle method often results in higher interest charges, so you should think twice before taking a card that uses it.

Credit card users should also pay attention to ATM fees. Most cards charge anywhere from $2 to $5 on ATM withdrawals. Thankfully, you can easily avoid these fees — skip the ATM altogether and just take out cash from your debit card or at your local bank.

More ways to find a great rate