1.American Express Cobalt Card
American Express
- 5%Cash back on groceries and dining
- 3%Cash back on gas and transit
- 1%Cash back on all other purchases
Earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in the first 12 months.
Earn up to 5x Membership Rewards points on eligible everyday spending categories.
21.99%
21.99%
The American Express Cobalt Card stands out as the top choice because it offers exceptional earning rates on everyday spending, particularly in food and drink categories, making it ideal for those who frequently dine out or shop for groceries.
Pros:
- High earning rates on food and drink
- Flexible redemption options
Cons:
- Annual fee may be high for some
- Requires good credit for approval
2.Scotiabank Gold American Express Card
Scotiabank
- 6%Cash back on groceries
- 5%Cash back on dining
- 3%Cash back on gas and transit
- 1%Cash back on all other purchases
Earn up to 50,000 Scene+ Points with the first-year annual fee waived.
Earn 5x Scene+ points on groceries and dining.
21.99%
22.99%
What sets the Scotiabank Gold American Express Card apart is its high earning potential on groceries and dining, making it a fantastic option for those who prioritize these spending categories.
Pros:
- No foreign transaction fees
- High rewards on groceries and dining
Cons:
- Annual fee applies
- Limited to certain categories for high rewards
3.Scotiabank Passport Visa Infinite Card
Scotiabank
- 3%Cash back on groceries, dining, and entertainment
- 2%Cash back on travel purchases
- 1%Cash back on all other purchases
Earn up to 35,000 bonus Scene+ points, part of an overall first-year value of up to CA$1,250.
Earn 3 Scene+ points per dollar spent on groceries, dining, and entertainment.
20.99%
22.99%
The standout feature of the Scotiabank Passport Visa Infinite Card is its robust travel rewards structure, making it an excellent choice for frequent travelers who want to earn points on their everyday spending.
Pros:
- No foreign transaction fees
- Comprehensive travel insurance
Cons:
- Annual fee applies
- Requires good credit for approval
- 5%Cash back on groceries and dining
- 2%Cash back on gas and transit
- 1%Cash back on all other purchases
Earn up to 30,000 bonus MBNA Rewards points after spending CA$2,000 in the first 90 days.
Earn 5 points per dollar spent on groceries and dining.
19.99%
24.99%
This card shines for its high earning potential on everyday purchases, particularly in grocery and dining categories, making it a top contender for those looking to maximize their rewards.
Pros:
- High earning rates on everyday spending
- Flexible redemption options
Cons:
- Annual fee applies
- Requires good credit for approval
- 1.25%Cash back on travel purchases
- 1%Cash back on all other purchases
Earn up to 70,000 Avion points on approval.
Earn 1.25 Avion points per dollar on travel spending.
20.99%
22.99%
A key differentiator is the RBC Avion Visa Infinite's strong travel rewards program, which allows cardholders to earn points on travel-related purchases, making it a great choice for frequent travelers.
Pros:
- Strong travel rewards
- Flexible redemption options
Cons:
- Annual fee applies
- Requires good credit for approval
6.Tangerine Rewards World Elite Mastercard
Tangerine
- 3%Cash back on selected categories
- 1%Cash back on all other purchases
Earn 50,000 Scene+ points (valued at CA$500).
Earn 3 Scene+ points per dollar in selected categories.
This card is particularly appealing due to its customizable rewards structure, allowing cardholders to choose categories that align with their spending habits.
Pros:
- Flexible category selection
- High earning potential
Cons:
- Annual fee applies
- Limited to selected categories for high rewards
- 6%Cash back on groceries
- 4%Cash back on recurring payments
- 3%Cash back on gas and electric vehicle charging
- 1%Cash back on all other purchases
Total welcome bonus value of CA$249 with the first-year annual fee waived.
Earn up to 6% cash back on groceries.
The Neo World Elite Mastercard is unique for its high cash back rates across various categories, making it an attractive option for those who want to maximize their rewards on everyday spending.
Pros:
- High cash back rates
- Customizable spending categories
Cons:
- Annual fee applies
- Requires good credit for approval
8.Scotia Momentum Visa Infinite Card
Scotiabank
- 4%Cash back on groceries and recurring bills
- 2%Cash back on gas and daily transit
- 1%Cash back on all other purchases
Earn 15% cash back on all purchases for the first 3 months, up to CA$2,000.
Earn 4% cash back on groceries and recurring bills.
20.99%
22.99%
The Scotia Momentum Visa Infinite Card excels in providing high cash back rates on groceries and recurring bills, making it a solid choice for those who spend heavily in these categories.
Pros:
- High cash back on groceries
- Good for recurring payments
Cons:
- Annual fee applies
- Limited to certain categories for high rewards
Did you know?
A no-fee credit card can beat a premium card if you do not use the extras. Match the card to your spend before chasing a bonus.
Final Words
As you navigate the options for rewards credit cards this October, remember that the best choice aligns with your spending habits and financial goals. Take time to compare the various cards discussed, considering factors like earning rates and fees, to make an informed decision that maximizes your rewards.
Frequently Asked Questions
The American Express Cobalt Card has a welcome bonus of Earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in the first 12 months. Additionally, you can earn up to 5x Membership Rewards points on eligible everyday spending categories.
With the Scotiabank Gold American Express Card, you can earn a welcome bonus of Earn up to 50,000 Scene+ Points with the first-year annual fee waived. The card offers 5x Scene+ points on groceries and dining, making it ideal for food enthusiasts.
The Scotiabank Passport Visa Infinite Card offers a welcome bonus of Earn up to 35,000 bonus Scene+ points, part of an overall first-year value of up to CA$1,250. You can earn 3 Scene+ points per dollar spent on groceries, dining, and entertainment.
Yes, many rewards credit cards have annual fees, which can vary significantly based on the card's features and rewards. It's essential to weigh the annual fee against the potential rewards to determine if it makes financial sense for you.
To choose the best rewards credit card, consider your spending habits, such as where you spend the most money (groceries, dining, travel). Additionally, review the card's rewards structure, annual fees, and any additional benefits like travel insurance or cashback options.
Many rewards credit cards offer cashback on all purchases, but the rate may vary. For instance, the American Express Cobalt Card provides 1% - Cash back on all other purchases, while other cards may have different structures.
The application process for rewards credit cards typically involves filling out an online form with your personal and financial information. Most providers will perform a credit check and may require documentation to verify your identity and income.
