1.American Express Cobalt® Card
American Express
- 5%Cash back on groceries, restaurants, and food delivery
- 3%Cash back on eligible streaming subscriptions
- 1%Cash back on all other purchases
Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 on your Card.
Earn 5x Membership Rewards points on eligible purchases like groceries, restaurants, and food delivery, and 1x on all other purchases.
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. Its flexible rewards structure and valuable perks further enhance its appeal, earning it the #1 spot.
Pros:
- High rewards on everyday spending
- Flexible redemption options
Cons:
- Monthly fee
- Requires understanding of point redemption
2.Scotiabank Gold American Express Card
Scotiabank
- 6%Cash back on groceries
- 5%Cash back on dining and entertainment
- 3%Cash back on gas and transit
- 1%Cash back on all other purchases
Achievable by spending $2,000 in the first three months and an additional $7,500 in the first year.
Earn up to 6x Scene+ points on groceries, dining, entertainment, gas, transit, and streaming.
20.99%
22.99%
What sets the Scotiabank Gold American Express Card apart is its impressive rewards structure, offering up to 6x points on essential spending categories. This card is particularly appealing for those who travel frequently and want to maximize their rewards without incurring foreign transaction fees.
Pros:
- High rewards on multiple categories
- No foreign transaction fees
Cons:
- Annual fee
- Spending thresholds for bonuses
- 5%Cash back on dining and groceries
- 1%Cash back on all other purchases
Earned by spending $2,000 in the first 90 days, plus an additional 10,000 points for going paperless.
Earn 5x points on dining, groceries, digital media, memberships, and utilities.
21.99%
22.99%
The standout feature of the MBNA Rewards World Elite Mastercard is its robust earning potential, allowing cardholders to accumulate points quickly on everyday purchases. This card shines for those who want flexibility in redeeming rewards for travel, cash back, or gift cards.
Pros:
- Strong points earning on everyday spending
- Flexible redemption options
Cons:
- Annual fee
- High income requirement
4.CIBC Costco Mastercard
CIBC
- 3%Cash back at restaurants and Costco gas
- 2%Cash back at other gas stations
- 1%Cash back on all other purchases
When you spend $3,000 or more within 120 days from account opening.
Earn up to 3% cash back at restaurants and Costco gas, 2% at other gas stations, and 1% on everything else.
21.75%
22.49%
A key differentiator for the CIBC Costco Mastercard is its tiered cash back structure, rewarding cardholders with up to 3% cash back on dining and gas purchases. This card is particularly beneficial for Costco members looking to maximize their rewards on everyday spending.
Pros:
- No annual fee
- High cash back on gas and dining
Cons:
- Limited to Costco members
- Spending caps on categories
5.American Express Platinum Card
American Express
- 5%Cash back on flights and hotels
- 2%Cash back on dining and travel
- 1%Cash back on all other purchases
After spending $10,000 in the first 3 months.
Earn 5x points on flights/prepaid hotels via Amex Travel and 1x on general spending.
21.99%
The American Express Platinum Card is the best option for frequent travelers, offering unparalleled benefits such as extensive lounge access and travel credits. Its high rewards on travel bookings justify the premium annual fee for those who can fully utilize its features.
Pros:
- Extensive travel benefits
- High rewards on travel bookings
Cons:
- High annual fee
- Requires frequent travel to maximize value
6.TD Cash Back Visa Infinite Card
TD Canada Trust
- 3%Cash back on groceries and gas
- 1%Cash back on all other purchases
Including 10% cash back on groceries, gas, and recurring bills for the first 3 months.
Earn 3% cash back on groceries, gas, EV charging, public transit, streaming, and recurring bills.
21.99%
22.99%
The TD Cash Back Visa Infinite Card shines for its high cash back rates on essential spending categories, making it a top choice for those who want to maximize their rewards on everyday purchases. Its additional Visa Infinite perks further enhance its value proposition.
Pros:
- High cash back on essential categories
- Visa Infinite perks
Cons:
- Annual fee
- Income requirement for eligibility
7.Tangerine World Mastercard
Tangerine
- 2%Cash back in chosen categories
- 0.5%Cash back on all other purchases
When you spend CA$1,500 in the first 3 months.
Earn unlimited 2% cash back in up to 3 categories of your choice and 0.5% on everything else.
20.95%
22.95%
The Tangerine World Mastercard is an excellent choice for those seeking flexibility in their cash back rewards, allowing users to choose their preferred categories. Its no annual fee structure makes it accessible while still offering significant earning potential.
Pros:
- No annual fee
- Flexible cash back categories
Cons:
- Income requirement for eligibility
- Limited to 3 categories for higher cash back
Final Words
As you consider the best restaurant credit cards this January, remember that choosing the right card can enhance your dining experiences while providing valuable rewards. Take time to compare your options and make informed decisions that align with your spending habits and lifestyle.
Frequently Asked Questions
Earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 on your Card.
Earn up to 6x Scene+ points on groceries, dining, entertainment, gas, transit, and streaming.
Earn 5x points on dining, groceries, digital media, memberships, and utilities.
The annual fee for the American Express Cobalt® Card is CA$191.88.
Yes, to earn the welcome bonus, you need to spend $2,000 in the first three months and an additional $7,500 in the first year.
When selecting a restaurant credit card, consider the reward rates for dining, any annual fees, and the welcome bonuses. It's also helpful to analyze your spending habits to ensure you maximize rewards.
Yes, most restaurant credit cards also offer rewards on other categories like groceries, gas, and travel, though at different rates. Always check the card's reward breakdown to understand where you can earn the most.
