What are the best credit cards for seniors in Canada? That was a question we recently received from a reader, and while credit cards are more about an individual’s unique spending habits and the benefits they find most useful in a credit card than age, we still thought we could help. With this in mind, we’ve selected a list of cards, both fee and no-fee, that offer perks like travel insurance and benefits ranging from cash back and other rewards. Whatever kind of card you’re looking for, you can find the details of our best credit cards for seniors here.
Featured credit cards
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.
Best no-fee card for seniors
At a glance: Earning cash rewards shouldn’t be complicated. We’ve selected the SimplyCash Card from American Express as one of the best credit cards for seniors because of the simplicity of the earn program, the above-average base rate and the ability to accelerate earnings—all for no annual fee.
SimplyCash from American Express
Annual fee: $0
- 2% cash back on gas and groceries
- 1.25% cash back on all other purchases
Welcome offer: Earn a bonus 5% cash back on your first $2,000 in purchases during your first three months (up to $100 in bonus cash back).
Card details
| Interest rates | 21.99% on purchases, 21.99% on cash advances |
| Income required | None specified |
| Credit score | 725 or higher |
Pros
- You can earn cash back on your purchases without paying an annual fee and with no minimum annual income requirement.
- Includes access to Amex benefits like Front-of-the-Line for concert tickets, and savings through Amex Offers.
Cons
- Cash back on groceries is capped at $300 annually.
- $100,000 in travel accident coverage is likely insufficient, so you’d want to buy extra protection.
- The cash back rewards are only paid out once per year.
- American Express cards are less widely accepted than Visa or Mastercard.
Best cash back card for seniors
At a glance: If you don’t mind paying an annual fee, you can boost your cash back earnings and get a host of extras and perks to boot. For $120 annually, the Scotiabank Momentum Visa Infinite offers attractive earn rates on groceries and recurring bills, and transportation (public transit and gas). Redemptions are simple, and there’s even a first-year fee waiver.
Scotiabank Momentum Visa Infinite
Annual fee: $120
- 4% cash back on groceries, recurring bill payments and subscription services
- 2% on gas and public transit
- 1% on everything else
Welcome offer: Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Offer ends June 30, 2025.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 725 or higher |
Pros
- With boosted earn rates in top categories, there are plenty of opportunities to get cash back.
- Unlike many cash back cards, the Scotiabank Momentum Visa Infinite includes insurance coverage. Among the 11 types of protection are mobile device, car rental and several types of travel insurance.
- Includes Visa Infinite benefits like access to the Visa Infinite Luxury Hotel Collection and the Dining Series.
- There’s a fee waiver for the first year, and those who have the Scotiabank Ultimate Package hold this card for free.
Cons
- Cash back is paid out once per year, in November, as a statement credit.
- To qualify, you need a personal income of $60,000 per year or a household income of $100,000 per year.
Best credit card for travel insurance for seniors
At a glance: Many credit cards don’t offer travel insurance to card holders over 65 years of age but with the National Bank World Elite, seniors are covered for up to 15 days when traveling out of province, right up until the age of 76.
National Bank World Elite Mastercard
Annual fee: $150
- 5 points per $1 on grocery and restaurant purchases
- 2 points per $1 on gas, EV charges, recurring bill payments and travel booked through À La Carte Rewards
- 1 point per $1 on all other purchases
Welcome offer: Earn up to 40,000 points.
Card details
| Interest rates | 20.99% on purchases, 22.49% on cash advances, 22.49% on balance transfers |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 760 or higher |
| Point value | 1 point is worth $0.01 when redeeming using National Bank’s À La Carte Rewards Plan. |
Pros
- This card includes 10 types of insurance, including up to $5 million dollars for emergency medical care.
- You can earn rewards when you spend with this card, and your travel insurance is valid even if you book with points.
- This card includes some valuable perks like an annual $150 travel rebate that you can use for baggage fees, seat selection, parking or other travel-related expenses.
Cons
- You can only earn 5 points per $1 on groceries and restaurants if your monthly spending is $2,500 or less. If you spend more than that amount each month, you will only earn 2 points per $1.
- The minimum income requirement is $80,000 (personal) or $150,000 (household), which might exclude some retirees.
Best drug store credit card for seniors
At a glance: If your drug store is Shoppers Drug Mart/Pharmaprix, there’s no better card than the PC World Elite Mastercard (and if you shop elsewhere, this card just might convince you to switch pharmacies). PC Optimum is one of the most straight-forward loyalty programs out there, with simple, at-register redemptions at a rate of $10 for 10,000 points and numerous opportunities to earn—all in a no-fee card.
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
- Those who shop regularly at Loblaws, Shoppers Drug Mart, and Esso can really rack up the PC Optimum points without paying an annual fee.
- Includes travel emergency medical insurance of up to $1 million, and rental car collision/loss damage waiver.
- World Elite Mastercard benefits like Travel Pass, Travel Rewards, and Priceless are included.
- The PC Optimum program is simple to use with seamless earnings and redemptions.
Cons
- This card is less-than-average for those who shop in stores outside the Loblaws ecosystem.
- The included insurance is substandard for a premium card. Travelers, especially those over 65 years old, will need to buy extra coverage.
- The personal income requirement of $80,000 (or household requirement of $150,000) will exclude some, and while those applicants can apply for a lower-tier PC Mastercard, they’ll also get fewer rewards.
- You must spend at least $15,000 annually on your card to retain it. Those who don’t will be downgraded to lower-tier PC card.
Best credit card for seniors on a budget
At a glance: Earn Walmart Rewards dollars at a rate of 1.25% on purchases made at Walmart in-store or online, and 1% anywhere else. Every Walmart Rewards dollar is worth $1 against anything you buy at Walmart, and you only need a minimum of five Walmart Rewards dollars to redeem.
Walmart Rewards Mastercard
Annual fee: $0
- 1.25% back in Walmart Rewards Dollars
- 1% back everywhere else
Welcome offer: This card does not have a welcome offer at this time.
Card details
| Interest rates | 19.89% on purchases and 22.97% on cash advances |
| Income required | $12,000 |
| Credit score | 660 or higher |
Pros
- There is no annual fee and no minimum income requirement so this card is in reach for low income seniors.
- You’ll earn 1.25% in Walmart Rewards dollars on your pre-tax purchases at Walmart and 1% on everything else.
- When you use this card, you get access to other opportunities for savings on certain items.
Cons
- You can only redeem your rewards at Walmart so they aren’t as flexible as cash back.
- There are no perks and no included insurance with this card.
