The best rewards credit cards in Canada for 2024

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Pros

• For many Canadians, gas and groceries are major expenditures, and this card offers a whopping 4% back on both. 
• Aside from these two bonus categories, this card earns a minimum of 2% on everything else you buy (with most cards, you’ll get a minimum of 1%). This means you’ll net double the cash back on everything from online purchases to clothes and more.
• Add an authorized user (like your partner or child) to the account—at no additional cost—and earn cash back faster. Credit cards commonly charge $30 to $50 per additional user.
• This credit card comes with Amex benefits like Front of the Line, which gets you early access to event tickets, as well as dining and retail experiences. Plus, you’ll receive Amex Offers, tailored to your spending habits. 
• This card offers comprehensive travel insurance rivalling even the best travel credit cards, with $5 million in coverage for trips of up to 15 days.
  

Cons

• American Express is widely accepted across Canada, but there are some important exceptions. Loblaw-affiliated stores, for example, don’t accept Amex, so you can’t cash in on the boosted grocery rewards there. (That you? Check out our best store credit cards.)
• You can’t choose when you get your rewards with this credit card loyalty program. Instead, you’ll get a lump sum applied to your account once per year, in September.

Pros

• Considering most no-fee credit cards in Canada have a base earn rate of 0.5%, the 1.25% offered by this card is eye-catching. 
• You’ll get a return of 2% on the first $15,000 you spend on groceries, meaning you can earn up to $300 annually in that category alone. Even better: there’s no limit to the boosted rate of 2% on gas.
  

Cons

• Just like with the SimplyCash Preferred, rewards are paid out once a year, every September. 
• You won’t be able to use this credit card anywhere that doesn’t accept American Express.

Pros

• The Rogers World Elite is as simple as it gets, earning a minimum of 1.5% cash back on all your everyday purchases, so you don’t have to think about maximizing bonus categories or rewards tiers. There isn’t another no-annual-fee cash back card out there that tops Rogers’ lucrative 1.5% flat earn rate.
• Rogers, Fido and Shaw customers get a rewards boost of 0.5%, plus a 1.5x redemption bonus when redeeming on their phone bills. That brings the potential cash back earnings up to 3%.
• Since the Roger Red World Elite is a Mastercard and earns a flat 1.5% on everything, it’s arguably the best credit card to use at Costco.
• The accelerated 3% earn rate on purchases made in U.S. dollars means that whether you shop in-person or online, you’re making enough back to offset foreign exchange fees.
• Redemptions are flexible. You can cash out as soon as you have $10 in rewards.
  

Cons

• The income requirements are high at $80,000 ($150,000 for a household). 

Pros

• With earn rates—like 5 points per dollar on groceries and dining, and 3 points per dollar on streaming services—this credit card is designed to let you build up points quickly. 
• Redemptions are easy and you have lots of choice in how you spend your rewards. You can put them toward any travel expense you’ve charged to your card at a rate of 1 point for $0.01 in travel savings. You can transfer them to participating airline or hotel loyalty programs, which not only increases where they can be used, but also their value. And, because Aeroplan points are typically worth more than other rewards, you can basically double the value of your points. Finally, you can use its Fixed Points Travel chart to find a favourable rate without worrying about the carrier or blackout dates.  
• Additional cards are free, so you can add family members to accumulate more points, faster.
  

Cons

• American Express cards aren’t as widely accepted across Canada as Visa or Mastercard. 
• While many comparable cards charge $120 in annual fees, at 155.88 (charged at $12.99 monthly), this card’s fee costs quite a bit more than other rewards credit cards on our list here. 
• One of the key travel perks—no foreign exchange fees—is not on offer here. 
• The travel insurance package is quite comprehensive with the notable exception of trip cancellation coverage, which covers you in case of a sudden illness.

Pros

• Purchases at some grocers, like FreshCo and Sobeys, will return a very impressive 6-points-per-dollar rate. And the 5-points-per-dollar category includes a wide variety of retailers including restaurants, food delivery and grocery stores. 
• You can retroactively redeem your points (up to one year). Say, for example, you booked a hotel in January, you could apply your Scene+ rewards to that travel purchase within the upcoming 12 months. Plus, you’re not limited to hotels and flights. The travel spending category considers Airbnbs, car shares, public transportation fares and taxis eligible for retroactive redemption, too. As if this card’s rewards weren’t flexible enough, you can also pay for travel rewards with both points and cash.
• The absence of foreign transaction fees is a top perk both for Canadian travellers and cross-border shoppers, saving between 2% and 2.5% on purchases made in other currencies. 
• This credit card has some of the best travel insurance on the market.
  

Cons

• Your Scene+ points are always valued at $0.01 per point, so there’s no room to boost their buying power. 
• The foreign exchange fee waiver is slightly dampened by the fact that purchases in other currencies only earn the base rate of 1 point per dollar. 
• You might want to carry a secondary Visa or Mastercard for those retailers in Canada who don’t accept American Express.

Pros

• The card has solid earn rates, and you can get the Aeroplan Status Qualifying Miles that you need to advance in Aeroplan status. Higher status means better Air Canada benefits.
• Points are redeemable with a dozen Star Alliance partner airlines, like United and Lufthansa.
• This credit card includes free first checked bags for up to eight travel companions on North American flights and a $100 Nexus fee rebate every 48 months—perks that will make your journey smoother.
• The included emergency medical travel coverage is for 21 days, or four days for those 65 and older—longer than what most other cards offer.
  

Cons

• If you’re looking for the absolute best way to get as many Aeroplan points as you can, using the Amex Cobalt and transferring your points at a one-to-one ratio is a better option, but this is our choice for a simple, Aeroplan-specific card.
• The Aeroplan program is dynamic so you’ll need to pay attention to the fluctuating points values if you want to get the most out of it. 
• At $139, the annual fee is more than some other credit cards in its category.

Pros

• You get an annual round-trip companion voucher to anywhere WestJet flies. The companion voucher allows you to book a companion fare at a reduced rate when you book a full fare for yourself. You can use this to travel within Canada and the continental U.S. starting at $119. 
• Status Lifts let you advance through the tier structure, gaining you access to benefits like lounge access. With this card, you can get up to three $500 Lifts annually.
• WestJet dollars (think points with a cash-back twist) are easy to collect with a minimum of 1.5% in WestJet dollars on every purchase on your card. You’ll get boosted rewards of 2% on WestJet flights or bundled vacations. 
• With the WestJet rewards program, you don’t have to keep track of anything. It’s simple, and there are no confusing charts nor blackout periods for booking.
  

Cons

• The reduced rate for the companion voucher only applies to the base rate of your flight. You’ll have to pay any taxes, airport fees and air transportations charges. 
• No point transfer options. You can’t use WestJet dollars with another airline.

Pros

• Earning points is simple with a flat rate of 1 point per dollar on your everyday spending, and you’ll double that for purchases made through Amex Travel Online. 
• You can redeem your points at a flat rate of 10,000 points for $10 in travel, or get more out of your points by using Amex’s Fixed Point chart. In some cases, such as with a transfer to Aeroplan, you can increase the value of your points. 
• With this travel rewards credit card you have access to Front of the Line where you can take advantage of advance access to tickets. Amex Experiences allows you to enjoy a variety of curated dining, shopping and entertainment events.
  

Cons

• As is typical for a no-fee credit card, this card doesn’t offer travel perks or feature insurance. 
• You can use an American Express card across Canada and abroad, but there are some stores, mostly in the grocery sector, that don’t accept it. Both Costco and Loblaw-banner stores don’t accept Amex in Canada.

Pros

• At 3% cash back on groceries, this student credit card offers the best rate in Canada for a no-fee card. The other bonus category, streaming services return 1.5% adding a bit more to the package.
• Unlike with some credit cards that pay out once annually, with this card you can redeem your cash when you need it. All you need is a minimum of $25 in cash back and you can choose to apply it as a statement credit or deposit it into your BMO chequing, savings or InvestorLine account.
  

Cons

• At 0.5%, the base rate could be better. Even some other no-fee cards offer 1% or more.
• Although there is no limit to how much cash back you can earn with this card, there are monthly caps in the bonus categories of $500 each.

Pros

• Aeroplan points are flexible and transferable. There are no seat restrictions or blackout dates for using your points on Air Canada purchases, and you can also use points with any of Aeroplan’s many partners, such as United and Aer Lingus.
• You don’t need to collect the entire amount of rewards in points. You can pay in cash and points.
• You’ll become a member with the popular SPC student discount program, which gives you access to savings and giveaways.
• You can save up to $0.10 per litre when you buy gas at participating stations with Journie Rewards.
  

Cons

• As a no-fee card, this card has lower earn rates than other Aeroplan cards.
• The only included insurance with this card is common carrier accident coverage, car rental collision and loss damage protection and purchase protection.
• You won’t earn Status Qualifying Miles on your everyday purchases, unlike with other Aeroplan cards.
• The Aeroplan points program is really dynamic, meaning that the value of your earned points values do fluctuate, so this may not be the right card for someone who is looking for simplicity.

Pros

• Marriott Bonvoy points are flexible, earning you upgrades across a variety of hotels, including the St. Regis, The Ritz-Carlton and the Westin. Or, use them for merchandise and experiences, or for travel expenses like car rentals and flights.
• With a 2 points per dollar base rate and 5 points per dollar spent on all Marriott hotel stays, this card lets you build up points, fast.
• This card includes an annual free night’s stay at a Marriott property. Plus you’ll get 15 Elite Night Credits that will help you advance to the next level of status, so you can access further benefits.
• You’ll have access to Amex benefits like Front of the Line, where you’ll have early access to event tickets. Plus, you can take advantage of curated dining, retail and wellness experiences.
  

Cons

• Although Marriott Bonvoy points are transferable to airline programs, the rate is an underwhelming three-to-one for most transfers.
• Marriott Bonvoy is a dynamic loyalty program, meaning you’ll need to pay attention to dates and times if you want to get the most out of your points.
• As an Amex credit card, it’s less widely accepted in Canada than Mastercard or Visa.