Credit card comparison tool
Compare Mastercard credit cards available in Canada using our interactive tool below. You can filter cards based on rewards value, annual fees, income requirements and more.
The best Mastercard credit cards in Canada
Mastercard is one of the three major payment processing networks in Canada, along with Visa and American Express. And although Mastercard doesn’t issue its own credit cards, it has partnered with card issuers like banks and other financial institutions that do. So, you can easily find a Mastercard that caters to your needs, regardless if you want travel points, cash back, low interest or perks. Let’s look at the best-of-the-best that Mastercard has to offer.
| Mastercard credit card | Highlights | Details | Eligibility requirements |
|---|---|---|---|
| FEATURED BMO CashBack World Elite Mastercard  GO TO SITE | Award: Best cash back Mastercard Best feature: 5% cash back on groceries and 4% back on transit | Annual fee: $120 Rewards: 1% to 5% cash back Interest rates: 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers | Income: $80,000 (personal) or $150,000 (household) Credit score: 760 or higher |
| FEATURED Tangerine Money-Back Credit Card  GO TO SITE | Award: Best no-fee cash back Mastercard Best feature: 2% cash back in up to 3 categories of your choice (including groceries, gas and dining) | Annual fee: $0 Rewards: 0.5% to 2% cash back Interest rates: 20.95% on purchases, 22.95% on cash advances, 22.95% on balance transfers | Income: $12,000 (personal or household) Credit score: 660 or higher |
| FEATURED MBNA Rewards Platinum Plus Mastercard  GO TO SITE | Award: Best travel rewards Mastercard Best feature: Earn travel rewards for no annual fee and receive a nice birthday bonus perk annually | Annual fee: $0 Rewards: 1 to 2 MBNA Rewards points per dollar Interest rates: 19.99% on purchases, 24.99% on cash advances, 22.99% on balance transfers | Income: None specified Credit score: 660 or higher |
| FEATURED MBNA True Line Gold Mastercard  GO TO SITE | Award: Best low-interest Mastercard Best feature: 10.99% purchase interest rate | Annual fee: $39 Rewards: None Interest rates: 10.99% on purchases, 24.99% on cash advances, 13.99% on balance transfers | Income: None specified Credit score: 660 or higher |
| FEATURED MBNA True Line Mastercard  GO TO SITE | Award: Best balance transfer credit card Best feature: 0% promotional interest rate for 12 months | Annual fee: $0 Rewards: None Interest rates: 10.99% on purchases, 24.99% on cash advances, 13.99% on balance transfers | Income: None specified Credit score: 660 or higher |
| FEATURED PC World Elite Mastercard  GO TO SITE | Award: Best store credit card Best feature: Highest rate of return at one of the largest retail networks in the country | Annual fee: $0 Rewards: 10 to 45 PC Optimum points per dollar Interest rates: 21.99% on purchases, 22.97% on cash advances, % on balance transfers | Income: $80,000 (personal) or $150,000 (household) Credit score: 560 or higher |
| FEATURED Rogers Red World Elite Mastercard  GO TO SITE | Award: Best credit card for Costco Best feature: Your highest earn rate at the warehouse retailer | Annual fee: $0 Rewards: 1% to 3% cash back Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers | Income: $80,000 (personal) Credit score: 725 or higher |
How we pick the best Mastercard credit cards
MoneySense editors start by coming up with a list of the best overall credit cards in Canada. If the top card in Canada for a given category is a Mastercard, we may choose to include it on this page. And if our top pick is a Visa or American Express card, then we look to the next-best card, and so on, until we find the best Mastercard credit card for each category on this list. Since each category is unique, we use different selection criteria each time. The addition of links from affiliate partners has no bearing on the results. Read more about our selection process and about how MoneySense makes money.
Best cash back Mastercard
At a glance: The BMO CashBack World Elite Mastercard reserves its best bonus rates for popular categories like groceries, transit and gas. That said, this isn’t a card for big spenders. Due to the modest monthly spending caps, this card will work best for those who need a solid earner on moderate spending. Among the perks is free roadside assistance—an unusual benefit.
BMO CashBack World Elite
Annual fee: $120
- 5% cash back on groceries
- 4% back on transit
- 3% back on gas and electric vehicle charging
- 2% on recurring bill payments
- 1% back on everything else
Welcome offer: earn up to 10% cash back in your first 3 months and the $120 annual fee waived in your first anniversary
Card details
| Interest rates | 20.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 760 or higher |
Pros
- High earn rate on major categories: Get the highest cash back rate for groceries in the nation, along with accelerated rates in categories like gas, transit and recurring bills.
- Free roadside assistance: This unusual perk will come in handy should you need a tow, a battery boost or help changing a flat.
- Easy redemptions: Get your cash back whenever you want, with a minimum of $1 earned.
Cons
- Earning caps: The boosted rates are restrictive for a premium card, capped at the first $300 or $500 spent monthly, depending on the category. With a card like the Scotia Momentum Visa Infinite, for example, your spending cap can be as high as the first $25,000 annually (more than $2,000 per month).
- Travel insurance coverage period: You’ll only be insured for up to eight days.
- High income requirement: This card may be out of reach for many Canadians.
Best no-fee cash back Mastercard
At a glance: Flexibility is the name of the game with the no-fee Tangerine Money-Back Credit Card. You can earn 2% cash back in up to three spending categories, chosen by you based on your spending habits. And you can change your categories online.
Tangerine Money-Back Credit Card
Annual fee: $0
- 2% in up to 3 categories of your choice (including groceries, gas and dining)
- 0.5% cash back on everything else
Welcome offer: Earn an extra 10% cash back during the first two months (up to $100 in cash back).
Card details
| Interest rates | 20.95% on purchases, 22.95% on cash advances and 22.95% on balance transfers |
| Income required | Personal or household income of $12,000 |
| Credit score | 660 or higher |
Pros
- Unlimited earning: Competitive bonus rate for a no-fee card, and no spending caps.
- Cash back flexibility: The only card in Canada that lets you choose your bonus categories. Pick up to three out of 10 categories and change them over time to reflect your evolving spending habits.
- Low income requirement: This card is very accessible.
- Easy redemptions: Your earnings are automatically paid monthly.
Cons
- No travel insurance: This card doesn’t offer coverage during your travels abroad.
- Low base earn rate: 0.5% is on the low end for cash back cards.
Best travel rewards Mastercard
At a glance: The MBNA Rewards Platinum Plus Mastercard will appeal to those looking for a way to earn points that can be used for travel, without having to pay an annual fee. Plus, the unique birthday bonus perk returns 10% of your annual earnings in points.
MBNA Rewards Platinum Plus Mastercard
Annual fee: $0
- 2 points per $1 on eligible groceries, restaurants, digital media and household utility purchases
- 1 point per $1 on everything else
Welcome offer: earn 10,000 bonus points ($50 in cash back value). Plus, get 4 points per $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days. (Not available for residents of Quebec.)
Card details
| Interest rates | 19.99% on purchases, 24.99% on cash advances, 22.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
| Point value | 1 MBNA Rewards point = $0.01 when redeemed for travel. |
Pros
- Easy redemptions: You won’t have to worry about complex rewards charts.
- High earn rates: Great rewards for a no-fee card, and lets you earn double in bonus categories—that’s 4 points per $1—for the first 90 days of every year.
- Birthday bonus: Get 10% of the points you earned in the previous year.
Cons
- Earning cap: Rewards are earned at boosted rates on up to $10,000 per category every year, and after this threshold, at a base rate of 1 point per $1 spent.
Best low-interest Mastercard
At a glance: If you need to pay down debt, the MBNA True Line Gold Mastercard has a lot to offer, like a modest $39 annual fee and one of the lowest interest rates on the market. There is no annual income requirement, making it extremely accessible.
MBNA True Line Gold Mastercard
Annual fee: $39
Low interest rate: 10.99%
Welcome offer: This card does not have a welcome offer at this time.
Card details
| Interest rates | 24.99% on cash advances, 13.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
Pros
- Low interest rate: If you regularly carry a balance on your card, the 10.99% rate may help you save on interest costs and pay off debt faster.
- Trip assistance and legal assistance: Features include support for lost luggage or documents, ticket replacement and legal assistance.
Cons
- No balance transfer offer: Unlike many low-interest cards, this one doesn’t have a promotional offer. If you need to move your debt to a low-interest card, you can consider the MBNA True Line Mastercard.
Best balance transfer credit card
At a glance: If you’re looking for a way to reduce the interest on existing debt, the MBNA True Line Mastercard offers a 0% balance transfer rate for a full year. Even at the regular balance transfer interest rate of 17.99%, this card saves you on interest charges. There’s no annual fee for you and up to nine additional users.
MBNA True Line Mastercard
Annual fee: $0
Low interest rate: 12.99%
Balance transfer offer: earn a 0% promotional annual interest rate (“AIR”) for 12 months on balance transfers completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
Card details
| Interest rates | 24.99% on cash advances, 17.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
Pros
- Year-long balance transfer offer: The promotional offer is longer than with any other balance transfer card in Canada.
- Balance transfer flexibility: You have up to 90 days to transfer your balance after opening the account, whereas most comparable cards make you transfer right away.
- Pay in installments: With the MBNA monthly payment plan, split the bill on spends over $100 into installments.
Cons
- Balance transfer fee: Even though the balance transfer interest rate is 0% for 12 months, there is a transfer fee of 3% ($30 for every $1,000 transferred).
Best store credit card
At a glance: The no-fee PC World Elite Mastercard allows you to rack up substantial points in the ever-popular PC Optimum program. You’ll earn huge point multipliers at Shoppers Drug Mart, Canada’s largest pharmacy, and at PC-affiliated stores, which have thousands of locations across Canada.
PC World Elite Mastercard
Annual fee: $0
- 45 PC Optimum points per $1 at Shoppers Drug Mart
- 30 points per $1 at Loblaw banner grocery stores
- At least 30 points per litre at Esso and Mobil gas stations
- 10 points per $1 on everything else
Card details
| Interest rates | 21.99% on purchases, 22.97% on cash advances (21.97% for residents of Quebec) |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 560 or higher |
| Point value | 10 PC points = $0.01 at Loblaws grocery network and Shoppers Drug Mart. |
Pros
- High earning: Earn great rewards if you regularly shop at PC stores. Get a 4.5% return on spending at Shoppers Drug Mart and 3% back at Real Canadian Superstore, Fortinos, No Frills and other Loblaw-affiliated stores.
- Travel insurance: This card includes travel and car rental insurance suitable for short trips.
Cons
- High income requirement: This card is out of reach for many.
Best credit card for Costco
At a glance: Although CIBC offers a Costco-branded Mastercard, it’s actually the Rogers Red World Elite Mastercard with 1.5% flat cash back that gets you the best earn rate at the warehouse giant, both online and in-store. Rogers, Fido and Shaw customers earn an extra 0.5% back on all purchases. The potential for unlimited cash back and greater redemption flexibility is what gives this card an edge over the CIBC Costco Mastercard.
Rogers Red World Elite Mastercard
Annual fee: $0
- 3% cash back on all U.S. dollar purchases
- 1.5% cash back on all purchases (plus, 0.5% more for Rogers, Fido or Shaw customers)
Welcome offer: This card does not have a welcome bonus at this time.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | $80,000 per year |
| Credit score | 725 or higher |
Pros
- High earning: This card gets you at least 0.5% more than you would get with the CIBC Costco Mastercard when shopping in person at the retailer.
- Easy redemptions: Get your rewards when you want, as long as you have $10 in earnings.
- High earning on USD spending: The 3% earn rate on purchases in U.S. dollars is enough to cover the foreign transaction fee (usually around 2.5%).
- Travel insurance: Strong benefits are included, which is unusual for a no-fee card.
Cons
- High income requirement: This card is less accessible.
More of Canada’s best credit cards:
- Canada’s best instant approval credit cards
- Canada’s best no fee credit cards
- Canada’s best no foreign transaction fee credit cards
- Canada’s best travel credit cards
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