If you're looking to get more out of your credit card spending, a rewards credit card is the best way to do so. These cards help you earn valuable cash rewards, points or travel rewards on every purchase.
The best card for you depends on your spending habits, so it's important to find one that suits your lifestyle. Check out this list of the top Canadian credit cards for rewards Canada and find the right one to suit your needs.
CIBC Dividend Visa Infinite
The CIBC Dividend Visa Infinite is one of the best credit cards for rewards Canada if you’re looking to earn cash back on everyday purchases. It offers 4% cash back on gas and groceries, along with 2% cash back on transportation, dining and recurring payments.
The card also has a high welcome bonus (up to $300 in cash back) and some impressive travel benefits. These include a first-year annual fee rebate, basic travel insurance and Visa Infinite perks like room upgrades, complimentary WiFi and late checkouts at over 900 properties around the world.
The card is available only to Canadians who meet certain income requirements. To apply, you must have a minimum income of $60,000 or a household income of $100,000.
BMO Eclipse Visa Infinite
One of two Visa-branded cards offered by BMO, the Eclipse Visa Infinite focuses on providing cardholders with a range of benefits. Primary cardholders can enjoy an annual $50 lifestyle credit, a 10% bonus BMO Rewards earn rate when adding supplementary cards to their account and complimentary travel insurance.
The card offers an accelerated earn rate for grocery, gas and dining purchases. Upon reaching $50,000 in spend in these categories during a calendar year, all future purchases will earn 1 BMO Rewards point per dollar.
It also offers purchase security and extended warranty insurance. Additionally, the card provides travel medical emergency insurance for domestic and international trips.
The BMO eclipse Visa Infinite is a high-end card that can be a great choice for consumers who are looking to maximize their spending in a specific area. However, it does have some drawbacks that make it less than ideal for all but the most avid travelers.
Scotia Momentum Visa Infinite
If you’re looking for a rewards credit card in Canada, the Scotia Momentum Visa Infinite is an excellent option. It offers some of the best benefits in its category, including a 10% cashback welcome offer, comprehensive travel insurance and no annual fee for the first year.
Moreover, it has an impressive 4% cash back rate on groceries and recurring bill payments. This rate isn’t offered by many other Canadian credit cards, and could save you a substantial amount on a monthly basis.
It also has 2% cash back on transit purchases, which could help you make your daily commute more affordable. Its 1% cash back on all other purchases is also attractive, especially if you don’t often pay for things in cash.
The Scotia Momentum Visa Infinite offers a wide range of benefits, including 11 types of insurance coverage. These include mobile device and trip cancellation insurance, purchase protection, and a doubled warranty on eligible purchases.
RBC ION+ Visa
The RBC ION+ Visa is an excellent choice for Canadians looking to rack up easy-to-redeem Avion points. It comes with an attractive welcome bonus and a low monthly fee.
The card earns three times more Avion points than the regular RBC ION Visa on select spending categories. These include grocery, dining, and food delivery, transportation, streaming, digital gaming and subscriptions.
The card also offers some unique RBC perks like mobile device insurance, a feature that isn’t typically found in the credit card space. The card is an excellent choice for students and young adults who want to get started with the Avion program and start earning points right away.