1.American Express Cobalt® Card
American Express
- 5%Points on eligible eats & drinks
- 3%Points on streaming subscriptions
- 2%Points on gas, transit, rideshare
Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 on your Card.
Earn 5x points on eligible eats & drinks including eligible restaurants, bars, cafes, grocery stores, and food delivery in Canada.
21.99%
21.99%
The American Express Cobalt Card stands out as the top choice because it offers exceptional rewards on everyday spending, particularly in food and entertainment categories. With the ability to earn up to 5x points on eligible purchases, it provides significant value for those who frequently dine out or shop for groceries.
Pros:
- High rewards on everyday spending
- Flexible rewards redemption options
Cons:
- Monthly fee applies
- Maximizing value requires understanding point redemption
2.The Platinum Card® from American Express
American Express
- 5%Points on flights & prepaid hotels
- 1%Points on general purchases
Earn 100,000 Membership Rewards points after spending $10,000 in the first 3 months.
Earn 5x points on flights & prepaid hotels booked via Amex Travel.
29.99%
What sets The Platinum Card apart is its extensive travel benefits, including access to the Global Lounge Collection and substantial rewards for travel-related purchases. This card is tailored for frequent luxury travelers who can leverage its perks to offset the high annual fee.
Pros:
- Extensive travel benefits
- Access to luxury lounges
Cons:
- High annual fee
- Requires full payment each month
- 5%Points on restaurants, groceries, digital media, memberships, and utilities
- 1%Points on all other purchases
Earn 20,000 points for spending $2,000 in the first 90 days and 10,000 points for enrolling in paperless statements.
Earn 5 points per $1 on restaurants, groceries, digital media, memberships, and utilities.
21.99%
22.99%
The standout feature of the MBNA Rewards World Elite Mastercard is its high earn rate of 5 points per dollar on essential spending categories like groceries and dining. This card is ideal for those who want to maximize their rewards on everyday purchases while enjoying flexible redemption options.
Pros:
- High rewards on specific spending categories
- Flexible redemption options
Cons:
- Annual fee applies
- Requires high personal income
4.National Bank World Elite® Mastercard®
National Bank
- 5%Points on groceries/restaurants
- 2%Points on gas, EV charging, recurring bills, and travel
- 1%Points on all other purchases
Earn up to 40,000 bonus points based on spending tiers.
Earn up to 5 points per dollar on groceries/restaurants.
20.99%
22.49%
This card shines for its tiered rewards structure, allowing cardholders to earn up to 5 points per dollar on groceries and restaurants. With additional travel benefits and insurance coverage, it offers a well-rounded package for frequent spenders.
Pros:
- High earn rates on essential categories
- Comprehensive insurance coverage
Cons:
- Annual fee applies
- Requires high income for eligibility
- 1.25%Points on travel purchases
- 1%Points on all other purchases
Earn 35,000 Avion points upon approval.
Earn 1 Avion point for every $1 CAD spent, plus 25% more on travel purchases.
20.99%
22.99%
A key differentiator for the RBC Avion Visa Infinite is its flexibility in travel rewards, allowing cardholders to book any flight on any airline without blackout dates. This makes it an excellent choice for travelers seeking freedom in their travel plans.
Pros:
- Flexible travel rewards
- No blackout dates on flights
Cons:
- Annual fee applies
- Limited bonus categories
6.Scotiabank Gold American Express® Card
Scotiabank
- 6%Points at partner stores
- 5%Points on groceries
- 3%Points on gas, streaming, and transit
- 1%Points on all other purchases
Achievable by spending $2,000 in the first three months.
Earn up to 6x Scene+ points at partner stores.
20.99%
22.99%
The Scotiabank Gold American Express Card excels with its high earn rates, particularly for groceries and dining, making it a strong contender for those who frequently spend in these categories. Additionally, the lack of foreign transaction fees adds to its appeal for travelers.
Pros:
- High earn rates on groceries and dining
- No foreign transaction fees
Cons:
- Annual fee applies
- Limited to Scene+ redemption options
Final Words
As you explore the best credit cards available this January 2026 in Canada, remember that your choice should align with your spending habits and financial goals. Take time to compare the options presented, evaluate their rewards, fees, and benefits, and make informed decisions that suit your lifestyle.
Frequently Asked Questions
The welcome bonus for the American Express Cobalt® Card is Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 on your Card.
With the American Express Cobalt® Card, you can Earn 5x points on eligible eats & drinks including eligible restaurants, bars, cafes, grocery stores, and food delivery in Canada.
The Platinum Card® from American Express offers a welcome bonus of Earn 100,000 Membership Rewards points after spending $10,000 in the first 3 months and allows you to Earn 5x points on flights & prepaid hotels booked via Amex Travel.
The annual fee for the MBNA Rewards World Elite® Mastercard® is CA$120. This fee is relatively low compared to some premium credit cards, making it an attractive option for many users.
Choosing the best credit card involves assessing your spending habits, desired rewards, and any associated fees. Compare welcome bonuses, reward rates, and additional benefits to find a card that aligns with your financial goals.
Many rewards credit cards have annual fees, which can vary significantly based on the card's benefits and features. It's important to weigh these fees against the potential rewards you can earn to determine if a card is worth it.
With the MBNA Rewards World Elite® Mastercard®, you can Earn 5 points per $1 on restaurants, groceries, digital media, memberships, and utilities, and 1% on all other purchases.
