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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 41
Bonus offer 1.95% Interest rate on balance transfers (first 6 months)
Annual fee $0
Rewards rate 4% 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 4% Money-Back Rewards on purchases in two Money-Back Categories of your choice, and 0.50% 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 2,000 Air Miles
Annual fee $65
Rewards rate 1 Air Miles reward mile per $15 spent
Card details
Network
American Express
Provider
American Express
Credit needed
Excellent
Fees and interest
Annual fee
$65
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®* Platinum Credit Card card members, earn a Welcome Bonus of 2,000 AIR MILES®* Reward Miles when you charge a total of $1,500 in purchases to your card within your first three months of card membership. That's enough for a select flight
  • Earn 1 Mile for every $10 in Card purchases at eligible AIR MILES®* Partner
  • * Excludes purchases made at airmilesshops.ca
  • Earn 1 Mile for every $10 in card purchases at AIR MILES®* Partners and at other eligible grocery stores, gas stations, and drugstores in Canada
  • Plus, earn 1 Mile for every $15 in card purchases everywhere else
  • Optional balance transfer offer - Enjoy a 1.99% interest rate in the first 6 months of card membership if you choose to transfer your other credit card balances to this American Express card
  • Balance transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Shop at participating AIR MILES®* Partners®* across Canada with your card and show your AIR MILES®* 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
  • Air Miles Rewards
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Insurance
Bonus offer 10% Cash back on everyday purchases (first 3 months)
Annual fee $99 $0 for the first year
Rewards rate 4% Cash back on gas and grocery store purchases
Card details
Network
VISA
Provider
Scotiabank
Credit needed
Excellent
Fees and interest
Annual fee
$99
$0 for the first year
Purchase interest rate
19.99%
Cash advance rate
22.99%
Balance transfer rate
22.99%
Card description

•  Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).1 Plus, no annual fee in the first year.◊ A welcome offer of up to $299.†. For accounts opened by April 30, 2019.
•  4% on eligible gas station and grocery store purchases
•  2% on eligible drug store purchases and recurring bill payments
•  1% cash back on all other eligible everyday purchases
•  Rates, fees, and other information are effective as of March 1, 2018. Subject to change.

Bonus offer 30,000 Membership Rewards points
Annual fee $120
Rewards rate 5 Points per $1 spent on eats and drinks, including groceries
Card details
Network
American Express
Provider
American Express
Credit needed
Fair
Fees and interest
Annual fee
$120
Purchase interest rate
19.99%
*7.99% rate charged within the first 6 months
Cash advance rate
22.99%
*provided you make your minimum monthly payments on time
Balance transfer rate
N/A
Card description
  • In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card. This could add up to 30,000 points in a year.
  • 30,000 points is enough for:
    • An eligible short-haul flight using the Fixed Points Travel Program, or
    • $300 in statement credits redeemed towards travel purchases charged to your Card or
    • $300 worth of tickets on Ticketmaster.ca
  • Earn 5 points for every $1 spent on Card purchases at eligible restaurants, bars, grocery stores and food delivery in Canada
  • Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases. That's 2X the points on purchases that get you from point A to B
  • Earn 1 point for every $1 in Card purchases everywhere else. We won't tell you where to spend, we'll just reward you on your Card purchases
  • Enjoy a special low interest rate of 7.99% on purchases charged to your Card within the first 6 months*
  • Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
  • Get advance access to tickets to some of the hottest concerts, shows and events through Front Of The Line® by American Express Invites® and advance screenings to blockbuster movies.
  • 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
  • Entertainment Benefits
  • Fraud Protection
  • Rental Car Insurance
  • Travel Benefits
  • Travel Insurance

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

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
22.99%
Balance transfer rate
1.99%
22.99% 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 25,000 Membership Rewards points
Annual fee $150
Rewards rate 2 Points per $1 spent
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* card members can earn a welcome bonus of 25,000 Membership Rewards® points just by making $1,500 in purchases in the first three months of card membership. 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®*
  • Free Additional Gold Rewards Card (a $50 value*) to help you earn points faster
  • Receive up to a $100 USD hotel credit at participating properties on qualifying room charges and a room upgrade, when available
  • 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. Payments must be received and processed by the date of the next monthly statement to avoid interest charges.
  • Conditions apply
Features
  • 24/7 Customer Service
  • American Express Hotel Collection
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Rental Car Discounts
  • Rental Car Insurance
  • Travel Insurance

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

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
22.99%
Balance transfer rate
1.99%
22.99% after 10 months
Card description
  • 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 or every $2 in eligible purchases‡
  • Redeem your points for Harley Chrome® Cash‡ to be used at participating Harley-Davidson Canadian retailers
  • Use your card for eligible purchases and you may be entered in a quarterly Harley-Davidson motorcycle draw‡
  • No annual fee
Bonus offer 1.99% Interest rate on balance transfers (first 6 months)
Annual fee $99
Rewards rate 5% Cash back (first 6 months)
Card details
Network
American Express
Provider
American Express
Credit needed
Good
Fees and interest
Annual fee
$99
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™ Preferred Card from American Express card members can earn 5% cash back on purchases (up to $300 cash back) for the first 6 months of card membership
  • Earn 2.0% cash back when your welcome rate ends
  • No limit to the amount of cash back you can earn
  • Optional balance transfer Offer to new card members - 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 additional cards
  • Penalty APR on missed payments ranges from 23.99% to 26.99%
  • Access to memorable experiences with American Express Invites®
  • Extensive 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. Offer subject to change without notice.
  • Conditions apply
Features
  • 24/7 Customer Service
  • Entertainment Benefits
  • Extended Warranty
  • Purchase Protection
  • Rental Car Insurance
  • Travel Insurance
Bonus offer 10,000 Blue Sky points
Annual fee $0
Rewards rate 1.25 Blue Sky points per $1 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
N/A
Card description
  • New Blue Sky® Credit Card card members, earn 10,000 Blue Sky® Points after you charge $500 in purchases to your card in your first three months of card membership
  • Earn 1.25 Blue Sky® Points for every $1 in purchases charged to the card
  • You can start redeeming with as little as 10,000 points towards any travel purchase charged to your card
  • Enjoy the convenience of no blackout dates, no seat restrictions and no travel restrictions
  • $100,000 Travel accident insurance
  • 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
  • Travel Insurance
Bonus offer 5% Cash back (first 3 months)
Annual fee $0
Rewards rate 1% Cash back on all purchases
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
  • Welcome offer: Get 5% cash back in your first 3 months*
  • Get a 1.99% introductory interest rate on balance transfers for 9 months*
    • 1% fee applies to balance amounts transferred*
  • Get 1% cash back on all other card purchases with no restrictions*
  • No annual fee*
  • Minimum 15K individual household income*
  • 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
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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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