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Best Credit Cards In Canada

Choose The Best Credit Card For You

I’ve personally tried almost all of the best credit cards in Canada so that you don’t have to. Learn the pros and cons of the most popular cards so you can pick the best one for you.

Warning ⚠️ just having a credit card will not automatically improve your credit score or help you stay in your budget. If you’re looking to improve your credit score you should first start with KOHO credit building. Plus make sure you have a high-interest savings account for your emergency fund.

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Pick Your Favourite Type of Credit Card

TLDR: My Favourite Credit Card in Canada

Best Low Interest Credit Cards

Best No Fee Credit Cards

Best Travel Credit Cards

Best Cash Back Credit Cards

Best Secured Credit Card

Best For Bad Credit

My Favourite Credit Card In Canada

I’ve personally tried almost all of the best credit cards in Canada so that you can make an informed decision. I also have a good credit score, which allows me to get approved for any credit card I want to try.

Neo Financial is my go-to favourite Canadian credit card that I use for almost all of my personal spending.

neo financial cash back credit card

Neo Credit Card

Instant virtual card access

Earn 1 – 8% cashback

Earn high interest on savings

TLDR:

What Are The Best Credit Cards In Canada?

You need to understand how to compare credit cards before you choose a card.

I’ve researched and tried out Canada’s most popular credit cards to help you choose the right one. I found that my favourite overall credit card was Neo Financial.

Neo FinancialTD Aeroplan Visa InfiniteAmex Aeroplan Reserve CardKOHO
Annual Fee$0$139$599$0
Interest on Purchases19.99% – 26.99%20.99%20.99%0%
Best Forstudents, cash backtraveltravelcredit building, cash back
Credit or Pre Paidbothcreditcreditpre paid
Cash back
Rewards programcash backaeroplan pointsaeroplan pointscash back
Mark’s Rating4/52/55/54/5

Check out these top cards first

Top 3 Credit Cards With Low Interest

The best low interest credit cards offer you a combination of competitive interest rates, low or preferably no annual fees, and valuable perks or rewards.

Some low interest credit cards and fintech companies offer cash back, points, or other rewards programs to provide even more value for you. These are the best low interest credit cards offer a cost-effective and convenient way to make purchases and manage debt.

My Top 3 Low Interest Credit Cards in Canada:

koho mastercard

KOHO

$0 Annual fee / 0% interest

Pre-paid card (no debt!)

Credit building tool

Desjardins Flexi Visa

$0 Annual fee

10.9% Interest rate

No point system

HSBC Rewards Mastercard Canada

HSBC +Rewards™ Mastercard®

$25 Annual fee

11.9% Interest rate

Travel points

Follow Mark’s credit card protocol for optimal results

⚠️Caution: Most Credit Cards Are Not Used Optimally

Don’t fall for the common credit traps, and make sure that you learn how to use and compare credit cards. Mark has boiled down the best credit score advice into his credit card protocol. Which will maximize your travel hacking points and minimize the risk of impacting your credit score.

    optimal credit card protocol

    Best for zero fees!

    Top No Fee Credit Cards In Canada

    Just so we are clear, and practice good financial habits the best no fee credit cards still charge you interest on your purchases! You just get to avoid the $20 – $2,000 yearly fees that people will pay just to have some credit cards.

    So my favourite no-fee credit cards are below! I hope you enjoy the custom research that I’ve put into testing and trialing out these products by myself.

    My Top 3 No Fee Credit Cards in Canada:

    neo financial cash back credit card

    Neo Financial

    $0 Annual fee

    Earn high interest on savings

    19.99% – 26.99% interest on purchases

    koho mastercard

    KOHO

    $0 Annual fee

    Pre-paid card (no debt!)

    Credit building tool

    tangerine world mastercard

    Tangerine World Mastercard™

    $0 Annual fee

    2% cashback on 3 categories

    Rental car insurance

    What Makes The Best Canadian Credit Card?

    What credit card is the easiest to get in Canada?

    Neo Financial was the easiest credit card that I’ve ever signed up for. I was instantly approved with a virtual card ready for instant activation on my Apple Pay / Google Pay. Plus their app is the easiest to use that I’ve ever seen. With $0 annual fee and the ability to help you earn interest on your savings with their high interest cash account I would recommend Neo Financial as one of the best credit cards in Canada.

    What card is best for Canada?

    The best card for you depends on your situation. If you have troubles staying out of debt, or are a new comer to Canada then you may have issues getting approved for most credit cards. So I would recommend using a pre paid card like KOHO. Or on the flip side if you manage your money well, earn a high income and are looking to maximize your travel hacking points I would recommend the American Express® Aeroplan® Reserve Card.

    Does cancelling a card hurt your credit score?

    Cancelling a card has the potential to hurt your score, but does not necessarily mean it will impact your score. When handling credit you should ensure you’re not opening and closing a lot of accounts in a short amount of time. Plus make sure you pay the full balance off every month, and never spend more than 30% of the maximum credit available to you.

    Want to Triple Your Productivity?

    I’ve adopted the best body and brain optimization protocols into what I call my Monk Mode Practice.

    Ideal morning routine

    Optimizing sleep for mental focus

    Biohacking to think clearly, and make better decisions

    wealth coach

    University and College is where your wealth starts

    Best 3 Student Credit Cards

    As students we tend to run on tight budgets, so each dollar counts when looking for the best credit card. Most students will be getting their first credit card, which is the start of a positive or negative relationship with credit / debt.

    Follow these tips when searching for the best student credit cards in Canada. You should look for one that offers cash back on all purchases, has no annual fee, and offers low interest rates. Ideally it would be great to earn high interest on your savings too.

    You can take your financial responsibility one step further and use an app like KOHO that makes it impossible for your to accumulate debt, while still building your credit score. Choose a card that fits your financial needs and offers responsible usage practices like auto-pay, and spending notifications.

    My Top 3 Student Cards:

    neo financial cash back credit card

    Neo Financial

    $0 Annual fee

    Earn high interest on savings

    Easy to use app

    koho mastercard

    KOHO

    $0 Annual fee

    Pre-paid card (no debt!)

    Credit building tool

    wealthsimple card

    Wealthsimple

    $0 Annual fee

    Pre-paid card (no debt!)

    Earn interest on your savings

    Best for those who want to fly and explore the globe!

    Top Credit Cards For Travel Hacking

    The best credit cards in Canada for travel will offer generous rewards programs, such as Aeroplan Points or rewards that can be redeemed for flights, or hotels.

    Most of these cards also offer perks such as airport lounge access, travel insurance, and no foreign transaction fees, making them ideal for frequent travellers. It’s important to consider the annual fee and interest rates when choosing a travel credit card, as well as any spending requirements or restrictions on earning rewards.

    Financial providers will sometimes lure us in with big signup bonuses, but not have any great ongoing rewards program. So keep your eye on the fine print to understand exactly what these cards require, so you can maximize your perks.

    My Top 3 Travel Rewards Cards:

    american express aeroplan reserve credit card

    Amex Aeroplan® Reserve Card

    $599 Annual fee

    70k – 150,000 signup bonus points

    Min 1.25x points on all spending

    TD® Aeroplan® Visa Infinite* Card

    $139 Annual fee

    55,000 bonus points

    Min 1x points on all spending

    American Express Cobalt Card

    $155.88 Annual fee

    30,000 bonus points

    Min 1x points on all spending

    For those who want more money in the bank.

    Credit Cards That Are Best For Cash Back

    The best credit cards in Canada for travel will offer generous rewards programs, such as Aeroplan Points or rewards that can be redeemed for flights, or hotels.

    Most of these cards also offer perks such as airport lounge access, travel insurance, and no foreign transaction fees, making them ideal for frequent travellers. It’s important to consider the annual fee and interest rates when choosing a travel credit card, as well as any spending requirements or restrictions on earning rewards.

    Financial providers will sometimes lure us in with big signup bonuses, but not have any great ongoing rewards program. So keep your eye on the fine print to understand exactly what these cards require, so you can maximize your perks.

    My Favourite Cash Back Cards:

    neo financial cash back credit card

    Neo Financial

    Earn 1 – 8% cashback

    Earn high interest on savings

    $0 Annual fee

    koho mastercard

    KOHO

    Earn 1 – 8% cashback

    Pre-paid card (no debt!)

    $0 Annual fee

    simplycash american express cashback card

    SimplyCash Preferred Card – Amex

    Earn 2% cash back on everything!

    Earn 4% cash back on gas & groceries

    $119.88 Annual fee

    Secured cards for no debt, but still building your credit score!

    Top Secured Credit Cards

    Secured credit cards are designed for Canadians who are looking to build or rebuild their credit score. They require a security deposit, which is typically equal to the credit limit, and can be used like a regular credit card to make purchases and build credit.

    The best secured credit cards in Canada offer low fees and interest rates, as well as tools to help you build your credit score. Which is why I recommend Neo Financial for their secured cards. Or KOHO for a pre-paid credit card with the $10/mo credit building feature.

    My Favourite Secured Cards:

    neo financial cash back credit card

    Neo Secured Card

    $50 Min deposit

    Earn 1 – 8% cashback

    Earn high interest on savings

    koho mastercard

    KOHO Credit Building

    $10/mo – no min deposit

    Pre-paid card (no debt!)

    Earn high interest on savings

    home trust secured credit card

    Home Trust Secured Visa Card

    Min $500 deposit

    14.99% / 19.99% interest rate

    $0 / $49 Annual fee

    Having bad credit doesn’t mean there’s no options.

    Bad Credit? Checkout These Cards

    Credit cards for people with bad credit are designed to help you rebuild your credit score, but they often come with higher interest rates and fees. The best credit cards for bad credit in Canada offer manageable fees and interest rates, as well as tools to help you build your credit.

    Which is why I recommend KOHO primarily. As they are a pre-paid card with a credit building service at $10/mo. Using KOHO allows you to only spend exactly how much money you have. You can also make a budget and savings plans for your goals.

    Top Cards For Bad Credit:

    koho mastercard

    KOHO Credit Building

    $10/mo – no min deposit

    Pre-paid card (no debt!)

    Earn high interest on savings

    neo financial cash back credit card

    Neo Secured Card

    $50 Min deposit

    Earn 1 – 8% cashback

    Earn high interest on savings

    home trust secured credit card

    Home Trust Secured Visa Card

    Min $500 deposit

    14.99% / 19.99% interest rate

    $0 / $49 Annual fee

    Need a card RIGHT NOW?

    Instant Approval & Instant Access

    Instant approval credit cards are for those who need a credit card quickly. These types of cards allow you to receive a decision on your application within minutes or even seconds.

    It’s important to note that instant approval doesn’t necessarily mean instant access to credit. The time it takes to receive your physical card and activate it may vary depending on the card issuer. However you can get virtual cards instantly with popular fintech companies in Canada.

    Get Access Instantly:

    koho mastercard

    KOHO Credit Card

    Instant virtual card access

    Pre-paid card (no debt!)

    Earn high interest on savings

    neo financial cash back credit card

    Neo Credit Card

    Instant virtual card access

    Earn 1 – 8% cashback

    Earn high interest on savings

    wealthsimple card

    Wealthsimple Cash Card

    Instant virtual card access

    Pre-paid card (no debt!)

    Earn high interest on savings

    The Best Credit Card Canada Summary

    I’ve personally tried almost all of the best credit cards in Canada so that you can make an informed decision.

    Neo Financial is my go-to favourite Canadian credit card that I use for almost all of my personal spending.

    My Favourite Credit Card: Neo Financial!

    Instant virtual card access

    Earn 1 – 8% cashback

    Earn high interest on savings

    mone with mark logo transparent

    Money With Mark is a personal finance speaker, influencer, author and content creator on YouTube, Tik Tok, and Instagram.