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Rewards credit cards

Compare rewards credit cards and earn cash back, points, or other perks that complement your lifestyle.

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Showing 1 — 10 of 35
Bonus offer 1.95% Interest rate on balance transfers (first 6 months)
Annual fee $0
Rewards rate 2% Cash back on two categories of your choice
Card details
Network
Mastercard
Provider
Tangerine
Credit needed
Good
Fees and interest
Annual fee
$0
Purchase interest rate
19.95%
Cash advance rate
19.95%
Balance transfer rate
1.95%
19.95% after 6 months
Card description
  • Get a 1.95% interest rate on balance transfers for the first 6 months, with a fee of 1% of the amount advanced
    • Only available for 30 days after being approved for a Tangerine Credit Card
  • Earn 2% Money-Back Rewards on purchases in two 2% Money-Back Categories of your choice, and 0.5% Money-Back Rewards on all other purchases
  • Get three 2% Money-Back Categories if you choose to have your Rewards deposited into your Tangerine Savings Account, or two 2% Money-Back Categories if your Rewards are deposited back onto your Credit Card
  • No limit on the amount of Money-Back Rewards you can earn
  • No annual fee
  • 2.5% Foreign Conversion Fee
  • Free Cards for Authorized Users on your Account
  • Money-Back Rewards are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.
  • Change your 2% Money-Back Categories to suit your spending.
  • Orange Alerts are emailed to you so that you’re up-to-date on what's happening in your Account.
  • Purchase Assurance and Extended Warranty
  • Accepted worldwide at more than 24 million locations in over 210 countries
  • Mastercard Zero Liability
Features
  • Extended Warranty
  • Free Supplementary Card
  • Purchase Protection
Bonus offer 500 Bonus Air Miles
Annual fee $0
Rewards rate 2 Air Miles reward miles per $20 spent*
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
1.99%
22.99% after 9 months
Card description
  • Limited time: Get 500 AIR MILES Bonus Miles*
  • Get a 1.99% introductory interest rate on balance transfers for 9 months*
    • 1% fee applies to balance amounts transferred*
  • Get 2x the Miles for every $20 spent at participating AIR MILES Partners*
  • Get 1 Mile for every $20 spent everywhere else*
  • Use your BMO AIR MILES Mastercard and AIR MILES Collector Card at an AIR MILES Partner to earn Reward Miles from both*
  • 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
  • Travel Benefits
Bonus offer 500 Bonus Air Miles
Annual fee $0
Rewards rate 1 Air Miles reward mile per $20 spent
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
22.99%
*provided you make your minimum monthly payments on time
Balance transfer rate
1.99%
22.99% 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.
  • No annual fee for supplementary cards
  • Penalty APR on missed payments ranges from 23.99% to 26.99%
  • 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
  • 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
Bonus offer 50,000 Bonus points
Annual fee $120
Rewards rate 2 Points per $1 spent
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
22.99%
Balance transfer rate
N/A
Card description
  • New Starwood Preferred Guest®* Credit Card from American Express Cardmembers, earn 50,000 bonus points after you charge $1,500 in purchases to your Card in your first three months of Cardmembership.*
  • Earn 5 points for every dollar in eligible Card purchases at participating SPG®* and Marriott Rewards®* properties.*
  • Earn 2 points for every $1 in all other Card purchases.*
  • Receive an Annual Free Night Award at eligible hotels and resorts worldwide every anniversary*
  • No annual fee on Supplementary Cards.
  • Penalty APR on missed payments ranges from 23.99% to 26.99%.
  • Redeem points for free nights with no blackout dates at over 6,500 of the world's most desired hotels.*
  • Automatic Silver Elite status membership.*
  • Enjoy an automatic upgrade to Starwood Gold Elite status when you reach $30,000 in purchases on the Card each year.*
  • *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
Bonus offer 5,000 Bonus points
Annual fee $0
Rewards rate 2 Points per $1 spent on gas, groceries, and restaurant purchases
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
22.99%
Card description
  • Accelerate rewards points on common purchases!
  • No annual fee
  • 1 point‡ for every $1 in eligible purchases
  • 2 points‡ for every $1 spent on eligible gas, groceries and restaurant purchases ($5,000 annual cap on each category)
  • Receive 2,500 bonus points†† after your first eligible purchase within the first 90 days of account opening
  • Receive 2,500 bonus points†† once enrolled for e-statements within the first 90 days of account opening
  • Redeem points‡ for travel, brand-name merchandise, gift cards from participating retailers, cash back, and charitable donations
  • Standard Annual Interest Rates of 19.99% on eligible purchases, 22.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
  • A suite of comprehensive insurance**
Features
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Benefits
Bonus offer 15,000 Bonus Scotia Rewards points
Annual fee $99
Rewards rate 4 Scotia Rewards points per $1 spent on eligible purchases
Card details
Network
American Express
Provider
Scotiabank
Credit needed
Good
Fees and interest
Annual fee
$99
Purchase interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description
  • Earn 15,000 bonus points with your first $1,000 in everyday purchases in the first 3 months - worth $150 in travel. For accounts opened by October 31, 2018.
  • Earn up to 4x Scotia Rewards points for every $1 you spend at eligible gas stations, grocery stores, on dining and entertainment
  • Earn one point on all other eligible purchases
  • Complimentary Concierge Services 24/7
  • Rates, fees and other information are effective as of March 1, 2018. Subject to change.
Bonus offer 20,000 Best Western Rewards points
Annual fee $0
Rewards rate 1 Best Western point per $1 spent
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
1.99%
21.99% after 10 months
Card description
  • Reward yourself with a free night's stay. You could get a FREE night with the Best Western Rewards® Mastercard® credit card‡
  • Earn 20,000 Best Western Rewards® points†† on your first purchase – enough for a free night stay
  • Earn 1 Best Western Rewards® point for every $1 in eligible purchases‡
  • Earn 5 Best Western Rewards® points for every $1 in eligible purchases at Best Western properties‡
  • You will be awarded "Gold Status" upon first use of your credit card and "Diamond Status" when you spend $10,000 in eligible purchases within one year♦♦
  • No limit to the Best Western Rewards® points that can be earned using the credit card in a year
  • Use your Best Western Rewards® points in many ways – hotel stays, dining, gift cards and more
  • You could get a 1.99% promotional annual interest rate (“AIR”)† for 10 months on balance transfers✪ [completed within 90 days of account opening], with a fee of 1% of the amount advanced (minimum fee of $7.50)
Features
  • No Limit on Points Earned
Bonus offer 1.99% Interest rate on balance transfers (first 6 months)
Annual fee $0
Rewards rate 2.5% Cash back (first 3 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
22.99%
*provided you make your minimum monthly payments on time
Balance transfer rate
1.99%
22.99% after 6 months
Card description
  • New SimplyCash™ Card from American Express Cardmembers can earn 2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership
  • Earn 1.25% cash back on all purchases and when your Welcome Rate ends
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Optional Balance Transfer Offer to new Cardmembers - Enjoy a special 1.99% introductory interest rate on transferred balances in the first 6 months of Cardmembership 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.
  • No annual fee for supplementary cards
  • Penalty APR on missed payments ranges from 23.99% to 26.99%
  • Access to memorable experiences with American Express Invites®
  • Insurance 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 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
Bonus offer 1.99% Interest rate on balance transfers (first 10 months)
Annual fee $0
Rewards rate 1 Genuine Rewards Point per $2 spent
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
1.99%
21.99% after 10 months
Card description
  • You could be one purchase away from winning a Harley-Davidson® motorcycle††
  • Use your card for eligible purchases and you may be entered in a quarterly Harley-Davidson motorcycle draw‡
  • You could get a 1.99% promotional annual interest rate (“AIR”)† for 10 months on balance transfers✪ [completed within 90 days of account opening], with a fee of 1% of the amount advanced (minimum fee of $7.50)
  • Earn 1 Genuine Rewards Point for every $2 in eligible purchases‡
  • Redeem your points for Harley Chrome® Cash‡ to be used at participating Harley-Davidson Canadian retailers
  • No annual fee
Bonus offer 2,000 Bonus SCENE points
Annual fee $0
Rewards rate 1 SCENE point per $1 spent
Card details
Network
VISA
Provider
Scotiabank
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
  • Earn 2,000 bonus points with your first $500 in everyday purchases in first 3 months. That's 2 FREE movies. For accounts opened by October 31, 2018.
  • Earn 1 SCENE point for every $1 you spend on credit card purchases
  • Earn 5 SCENE points for every $1 you spend on SCENE Visa purchases at participating Cineplex Entertainment theatres or online at cineplex.com
  • Rates, fees and other information are effective as of March 1, 2018. Subject to change.
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Rewards credit cards

 

Want to earn rewards just by using your credit card? Maybe it's time to get a rewards card. Rewards credit cards offer you points, cash back, and other benefits based on how much you use your card — the more you spend, the more you earn. Credit card providers offer a wide range of exciting rewards cards in Canada, so compare your options above to find the right card.

How do rewards credit cards work?

 

The competition for new credit card customers is intense, so credit card providers offer robust rewards programs to entice shoppers and get them to use their higher end cards.

Some cards offer travel points toward airfare and hotels, some offer points toward your favorite retailers, and others offer cash back. Just pick the rewards card that fits your spending habits and your lifestyle.

Wondering when you get to redeem those rewards? Rewards credit card providers generally award points monthly or once a year, and then you can redeem your rewards online or over the phone whenever you're ready. Meanwhile, cash back awards usually come in the form of a cheque at the end of the year or as a credit to your account. Just remember: the more you spend, the greater your rewards.
 

Who should get a rewards credit card?

 

Consumers with good credit scores and average or above average credit card spending. Many rewards cards come with high annual fees and high interest rates, which is why they're best for shoppers who pay their balances every month and spend enough money to make the annual fee worth it.

You also need a reasonably high income to get approved for a rewards credit card. In most cases, rewards credit card providers require you to have a minimum household income of $35,000 per year. Other rewards cards require applicants to have annual incomes that are as high as $100,000.

How do I decide what type of rewards credit card to get?

 

Figure out what kind of rewards suit you best. Most shoppers start by looking at what they spend their money on each month and what kind of rewards would be most useful. Frequent travellers probably want a card with a travel points program, such as air miles or hotel points. High spenders might prefer cash back, while consumers with special interests may want a specialty rewards card.

How should I compare competing rewards credit cards?

 

The key measure of a rewards credit card is how much cash back or how many points are awarded per dollar spent. This measure is known as the rewards rate, or, sometimes, the rewards ratio.

The best rewards credit cards return at least 1% of your monthly spending back to you in rewards, whether it’s cash back, points, or another benefit.

Look for cards with reasonably ‘clean’ rewards programs — cards that don’t put a lot of limits or conditions on how you can earn and use your rewards.

And consider the annual fees — some rewards cards have annual fees over $200. But don’t just dismiss these cards, especially if you’re a big spender. These rewards cards may come with sign-up bonuses and a great rewards return rate.

Rewards credit cards compared: a cash back case study

 

Comparing rewards credit cards can be confusing for even the savviest consumers. Most rewards cards offer different rewards rates depending on the amount of money you spend and what exactly you spend it on. Just take a look at the Scotia Momentum Visa Infinite.

With this card, you can earn 4% cash back on eligible gas and grocery purchases, 2% cash back on drugstore purchases and recurring bills, and 1% cash back on other purchases — up to a maximum of $25,000. After you hit this spending threshold, the card returns 1% cash back on eligible purchases.

Check out the rewards rates and benefits on some of our top cash back cards below:

Scotia Momentum No-Fee VISA
Rewards
  • 1% on gas/grocery/drug store purchases and on recurring bills
  • 0.5% on all other eligible purchases
Interest rate
7.99%
19.99% after 6 months
Annual fee
$0
Scotia Momentum VISA
Rewards
  • 2% on gas/grocery/drug store purchases
  • 1% on all other eligible purchases and after annual $25,000 limit
Interest rate
19.99 %
21.99% after first 6 months
Annual fee
$39
Scotia L'earn VISA
Rewards
  • 1% on all eligible purchases
Interest rate
19.99%
Annual fee
$0
Scotia Momentum VISA Infinite
Rewards
  • 4% on gas/grocery purchases
  • 2% on drug store purchases and recurring bills
  • 1% on other purchases and after annual $25,000 limit
Interest rate
19.99%
Annual fee
$99

That’s a lot of math. We even crunched some numbers to illustrate what kind of rewards you’ll earn on each card based on the amount of money you spend. The graph below depicts the rewards rate for some of our best cash back credit cards — the most popular rewards category at LowestRates.ca.

A quick note on methodology: cash back rewards rates vary based on what you buy, so we used a weighted basket to depict the average cardholder's monthly spending.

  • 13% on gas
  • 27% on groceries
  • 13% on drug store purchases
  • 13% on recurring bills
  • 34% on other purchases

We used a basket of up to $60,000 in spending, beyond which all purchases are categorized as ‘other’. Most families only spend so much money per year on items like gas, groceries, and recurring bills, no matter how big their budget.

We also included the annual fees for each card and stripped out introductory offers. Now you can get a true sense of how each card will reward you over the long term.

Cash Back Rewards Cards Comparison

While every family spends money on different things and in different amounts, the graph above gives you a rough idea of the rewards you can earn with these cards based on your annual spend.

Figuring out which card will give you the best rewards rate depends on how much you spend per year. No fee rewards cards like the L’earn Visa or the Scotia Momentum No-Fee are actually better if you only spend a few thousand dollars per year on your card. If you’re a big spender, a Cadillac offering like the Scotia Momentum Visa Infinite reigns supreme.

What are the disadvantages of a rewards credit card?

 

APRs on rewards cards can be 20% or even 30%, and the annual fees can amount to hundreds per year. That’s why most rewards credit cards (especially premium offerings) are only appropriate for consumers who spend a lot of money.

Applicants also need to have a good credit score to be approved for a decent rewards credit card. Most rewards cards require a minimum score of 710, and the threshold is even higher for premium cards — usually 720 or above.

Is there anything I should watch out for in a rewards credit card?

 

Check for caps or limitations on your rewards. Many rewards cards only offer the best points rewards rate on the first few thousand dollars you spend. When you exceed that annual amount, you're subjected to a lower rewards rate. Other cards come with a hard cap, beyond which no more rewards points will be awarded, no matter how much you spend.

You also need to check for requirements or conditions on your rewards. Some high-end rewards cards require you to spend a lot before you can get the best rewards rate. That's why many shoppers opt for a rewards credit card with a steady rewards rate and few variations.

Make sure your spending habits match the rewards card you're interested in applying for. Some rewards credit cards only offer points or cash back on certain products or services. That's why you should take the time to calculate how much money you actually spend in each of those categories before you apply for the card. For example, if you don’t own a car, a rewards card that earns cash back on gas purchases probably isn’t the right fit.

And lastly, remember to watch out for rewards that expire at the end of the year or after a set period of time.

Compare rewards credit cards today

 

The appeal of rewards credit cards is easy to see. Who doesn’t like earning points and rewards on their everyday purchases? With more rewards credit cards available today than ever before, you have a lot of credit card options.

Compare all the best credit cards right here at LowestRates.ca.

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