1.American Express Cobalt® Card
American Express
- 5%Cash back on eligible grocery stores, restaurants, and bars
- 3%Cash back on eligible streaming subscriptions
- 1%Cash back on all other purchases
Earn 1,250 bonus points for each of the first 12 months you spend $750 on the card, totaling 15,000 points.
Earn 5x Membership Rewards points on eligible purchases like groceries, restaurants, and food delivery up to $2,500/month.
21.99%
21.99%
The American Express Cobalt Card stands out as the top choice because it offers exceptional rewards on everyday spending categories like groceries and dining, making it ideal for those who frequently spend in these areas.
Pros:
- High rewards on everyday spending
- Flexible rewards redemption options
Cons:
- Monthly fee can add up
- Requires understanding of point redemption
2.Scotiabank Passport Visa Infinite Card
Scotiabank
- 3%Cash back on travel purchases
- 2%Cash back on dining and entertainment
- 1%Cash back on all other purchases
Earn 40,000 points for spending $2,000 in 3 months, plus 10,000 points for spending $10,000 in 6 months, and an annual bonus of 10,000 points for $40,000 annual spend.
Earn 3x Scene+ points on travel, 2x on dining/entertainment, and 1x on everything else.
20.99%
22.99%
What sets the Scotiabank Passport Visa Infinite Card apart is its no foreign transaction fees and extensive travel rewards, making it a premium choice for frequent travelers who want to maximize their spending.
Pros:
- No foreign transaction fees
- Comprehensive travel insurance
Cons:
- Higher income requirement for approval
- Annual fee may offset some benefits
- 4%Cash back on gas, EV charging, and groceries
- 2%Cash back on dining and transportation
- 1%Cash back on all other purchases
Earn 10% cash back on initial spending for the first 4 months, up to $2,500.
Earn 4% cash back on eligible gas, EV charging, and groceries; 2% on dining, transportation, and recurring payments.
21.99%
22.99%
The standout feature here is the CIBC Dividend Visa Infinite Card's tiered cash back structure, which rewards users significantly for spending on gas and groceries, making it an excellent choice for those who prioritize cash back.
Pros:
- High cash back rates on essential categories
- No overall earning limit
Cons:
- Annual fee may deter some users
- Interest rates can be high
4.Scotia Momentum Visa Infinite Card
Scotiabank
- 4%Cash back on groceries and recurring bills
- 2%Cash back on gas and transit
- 1%Cash back on all other purchases
Earn 10% cash back on the first $2,000 in purchases within the first 3 months.
Earn 4% cash back on groceries and recurring bills, 2% on gas and transit, and 1% on everything else.
20.99%
22.99%
This card shines for its high cash back rates on groceries and recurring bills, making it a top choice for everyday spending, especially for those who want to maximize their rewards in these categories.
Pros:
- High cash back on essential spending
- First-year annual fee waiver
Cons:
- Spending caps on higher cash back rates
- Annual fee after the first year
5.TD Aeroplan Visa Infinite Card
TD Canada Trust
- 1.5%Aeroplan points on gas, groceries, and Air Canada purchases
- 1%Aeroplan points on all other purchases
Earn 10,000 points for your first purchase, 15,000 points for spending $7,500 in 180 days, and 20,000 points for spending $12,000 in the first year.
Earn 1.5x Aeroplan points on eligible gas, groceries, and Air Canada purchases, and 1x on everything else.
21.99%
22.99%
A key differentiator is the TD Aeroplan Visa Infinite Card's focus on travel rewards, particularly for Air Canada users, making it an excellent option for frequent flyers looking to maximize their Aeroplan points.
Pros:
- Free first checked bag on Air Canada flights
- NEXUS fee rebate
Cons:
- Higher income requirement for approval
- Annual fee may be a barrier for some
- 5%Points on dining, groceries, and utilities
- 1%Points on all other purchases
Earn 20,000 points after spending $2,000 in the first 90 days, plus 10,000 points for going paperless.
Earn 5x points on dining, groceries, digital media, memberships, and utilities up to $50,000/year, and 1x on other purchases.
21.99%
22.99%
This card shines for its exceptional earning rates on everyday purchases, making it a top choice for those who want to maximize their rewards across various categories.
Pros:
- High earning potential on everyday spending
- Flexible redemption options
Cons:
- Annual fee may deter some users
- Income requirements for eligibility
7.American Express Platinum Card
American Express
- 5%Points on flights and prepaid hotels
- 2%Points on dining and travel
- 1%Points on all other purchases
Earn 100,000 points after spending $10,000 in the first 3 months.
Earn 5x points on flights and prepaid hotels via Amex Travel, 2x on dining/travel in Canada, and 1x on general spending.
29.99%
The American Express Platinum Card is the best option for frequent travelers who can leverage its extensive benefits, including lounge access and travel credits, to offset its high annual fee.
Pros:
- Extensive travel benefits and perks
- High earning potential on travel-related purchases
Cons:
- High annual fee
- Requires full payment monthly
8.SimplyCash Preferred Card from American Express
American Express
- 4%Cash back on gas and groceries
- 2%Cash back on all other purchases
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in spending).
Earn 4% cash back on eligible gas and groceries (up to $1,200 back annually) and 2% on all other purchases.
21.99%
21.99%
This card stands out for its high cash back rates on gas and groceries, making it an excellent choice for those looking to maximize their rewards on everyday spending.
Pros:
- High cash back on essential categories
- No limit on cash back earnings
Cons:
- Annual fee may deter some users
- Requires careful management to avoid penalties
Final Words
As you consider the best credit cards for excellent credit this January 2026 in Canada, remember that selecting the right card can significantly enhance your rewards and benefits. Take time to compare your options carefully to ensure you make informed decisions that align with your spending habits and financial goals.
Frequently Asked Questions
The American Express Cobalt® Card offers a welcome bonus of 1,250 bonus points for each of the first 12 months you spend $750 on the card, totaling 15,000 points. You can earn 5x Membership Rewards points on eligible purchases like groceries, restaurants, and food delivery up to $2,500/month.
The Scotiabank Passport Visa Infinite Card provides a welcome bonus of 40,000 points for spending $2,000 in 3 months, plus 10,000 points for spending $10,000 in 6 months, and an annual bonus of 10,000 points for $40,000 annual spend. You earn 3x Scene+ points on travel, 2x on dining/entertainment, and 1x on everything else.
With the CIBC Dividend Visa Infinite Card, you can earn a welcome bonus of 10% cash back on initial spending for the first 4 months, up to $2,500. After that, you earn 4% cash back on eligible gas, EV charging, and groceries; 2% on dining, transportation, and recurring payments.
Yes, most premium credit cards targeting individuals with excellent credit usually come with annual fees. For instance, the American Express Cobalt® Card has an annual fee of CA$191.88, while the Scotiabank Passport Visa Infinite Card charges CA$150.
When choosing a credit card, consider the rewards structure, annual fees, welcome bonuses, and your spending habits. It’s also beneficial to look for added perks like travel insurance or purchase protection that can enhance the card's value.
To apply for a credit card with excellent credit, you typically need to provide personal information such as your income, employment details, and Social Insurance Number. Many issuers offer online applications that can be completed quickly and easily.
Common rewards categories for credit cards include cash back on groceries, dining, travel, and online purchases. Some cards may offer higher rewards rates on specific categories, so it’s important to match the card with your spending habits.
