1.American Express Cobalt® Card
American Express
- 5%Points on eats/drinks/groceries (up to $2,500/month)
- 3%Points on streaming
- 2%Points on travel/transit
- 1%Points on all other purchases
Earn up to 15,000 Membership Rewards points in the first year (1,250 per monthly billing period with $750 in net purchases).
Earn 5x points on eats/drinks/groceries (up to $2,500/month), 3x on streaming, 2x on travel/transit, and 1x on other purchases.
The American Express Cobalt Card stands out as the top choice because it offers exceptional rewards on everyday categories like dining and groceries, making it ideal for those who frequently spend in these areas. With a flexible points system and a generous welcome bonus, it provides significant value for new cardholders.
Pros:
- High rewards on everyday spending
- Flexible points redemption
Cons:
- Monthly fee
- High spending requirement for welcome bonus
2.Scotiabank Passport Visa Infinite Card
Scotiabank
- 3%Scene+ points at select grocers
- 2%Scene+ points on groceries, dining, entertainment, and transit
Earn up to 60,000 bonus Scene+ points, including 40,000 points after spending $2,000 in the first 3 months.
Earn 3 Scene+ points per $1 at select grocers, and 2 points per $1 on groceries, dining, entertainment, and transit.
What sets the Scotiabank Passport Visa Infinite Card apart is its focus on travel rewards, offering no foreign transaction fees and complimentary airport lounge access, making it an excellent choice for frequent travelers. The generous welcome bonus and strong earning potential on travel-related purchases further enhance its appeal.
Pros:
- No foreign transaction fees
- Complimentary airport lounge access
Cons:
- Annual fee
- High income requirement
3.RBC Avion Visa Infinite Card
RBC Royal Bank
- 1.25%Avion points on travel purchases
- 1%Avion points on all other purchases
Earn up to 55,000 Avion points, including 35,000 points upon approval and 20,000 points after spending $5,000 in the first 6 months.
Earn 1.25 Avion points per $1 on travel purchases and 1 point per $1 on others.
The RBC Avion Visa Infinite Card shines for its flexible travel rewards program, allowing cardholders to earn points that can be redeemed for flights on any airline. With a substantial welcome bonus and comprehensive insurance coverage, it is a strong contender for those who prioritize travel benefits.
Pros:
- Flexible travel rewards
- High welcome bonus
Cons:
- Annual fee
- High spending requirement for bonus
4.Scotiabank Gold American Express Card
Scotiabank
- 6%Scene+ points at Sobeys and Safeway
- 5%Scene+ points on groceries, dining, and entertainment
Earn up to 45,000 Scene+ points by spending $2,000 in the first three months.
Earn 6 Scene+ points on every $1 spent at Sobeys and Safeway stores, and 5 Scene+ points on groceries, dining, and entertainment.
The Scotiabank Gold American Express Card is a top-tier rewards card that excels in earning rates for groceries and dining, making it ideal for everyday spenders. With a generous welcome bonus and no foreign transaction fees, it offers significant value for those who travel or dine frequently.
Pros:
- High rewards on groceries and dining
- No foreign transaction fees
Cons:
- Annual fee
- Limited to specific retailers for high rewards
5.American Express Platinum Card
American Express
- 2%Points on eligible dining
- 1%Points on all other purchases
Earn up to 100,000 Membership Rewards points with a high minimum spend of $10,000 within the first three months.
Earn 2 points for every $1 spent on eligible dining in Canada and 1 point for every $1 on other purchases.
The American Express Platinum Card is the epitome of luxury, offering unparalleled travel benefits, including extensive airport lounge access and a substantial welcome bonus. Its premium features and high earning potential make it the best option for frequent travelers seeking exclusive perks.
Pros:
- Extensive airport lounge access
- High welcome bonus
Cons:
- High annual fee
- Requires excellent credit
- 8%Points on Expedia For TD
- 6%Points on groceries/dining/transit
- 2%Points on all other purchases
Earn a welcome bonus of up to 165,000 TD Rewards points, including 20,000 points for the first purchase and 145,000 points after spending $7,500 within 180 days.
Earn 8 points per $1 on Expedia For TD, 6 points on groceries/dining/transit, and 2 points on all other purchases.
The TD First Class Travel Visa Infinite Card offers a compelling rewards structure, especially for travel enthusiasts, with high earning rates on travel-related purchases and a generous welcome bonus. Its annual travel credit and comprehensive insurance make it a strong choice for frequent travelers.
Pros:
- High earning potential on travel purchases
- Annual travel credit
Cons:
- Annual fee
- High spending requirement for bonus
- 5%Points on travel
- 3%Points on dining/entertainment/bills
- 1%Points on all other purchases
Earn up to 100,000 BMO Rewards points, with a first-year annual fee waiver.
Earn 5 points per $1 on travel, 3 points per $1 on dining/entertainment/bills, and 1 point per $1 elsewhere.
The BMO Ascend World Elite Mastercard is designed for frequent travelers, offering high rewards on travel-related purchases and comprehensive insurance coverage. Its generous welcome bonus and premium features make it an excellent choice for those who prioritize travel benefits.
Pros:
- High rewards on travel and dining
- Comprehensive travel insurance
Cons:
- Annual fee
- Requires high income
8.Rogers Red World Elite Mastercard
Rogers Bank
- 3%Cash back on U.S. dollar purchases
- 1.5%Cash back on all other purchases
N/A
Earn up to 3% cash back on U.S. dollar purchases and 1.5% on everything else.
The Rogers Red World Elite Mastercard is tailored for Rogers customers, offering high cash back on U.S. dollar purchases and no annual fee. Its unique benefits make it a solid choice for those who frequently use Rogers services.
Pros:
- No annual fee
- High cash back on Rogers services
Cons:
- Limited to Rogers customers
- Variable interest rates
- 5%Points on groceries, restaurants, digital media, memberships, and utilities
- 1%Points on all other purchases
Earn up to 30,000 bonus points: 20,000 points after spending $2,000 in the first 90 days, plus 10,000 points for enrolling in paperless statements.
Earn 5 points per $1 spent on groceries, restaurants, digital media, memberships, and utilities (up to $50,000 annually per category).
The MBNA Rewards World Elite Mastercard offers a robust rewards structure, particularly for everyday spending categories, making it an excellent choice for those who want to maximize their rewards. Its comprehensive insurance coverage adds significant value.
Pros:
- High earning potential on everyday purchases
- Comprehensive insurance package
Cons:
- Annual fee
- Spending cap on high rewards
10.Neo Secured World Elite Mastercard
Neo Financial
- 5%Cash back on groceries
- 4%Cash back on recurring payments
- 3%Cash back on gas/EV charging
Receive a $25 cash back bonus upon approval.
Earn up to 5% cash back on groceries, 4% on recurring payments, and 3% on gas.
The Neo Secured World Elite Mastercard is designed for those looking to build credit while earning high cash back rewards on essential purchases. Its guaranteed approval and premium features make it a unique option for credit-building.
Pros:
- High cash back on essential purchases
- Guaranteed approval
Cons:
- Annual fee
- Requires security deposit
Final Words
As you consider your options for credit cards this March, remember that the best choice aligns with your spending habits and financial goals. Take time to compare the features and benefits of various cards to ensure you make an informed decision that enhances your financial well-being.
Frequently Asked Questions
The American Express Cobalt® Card offers a welcome bonus of up to 15,000 Membership Rewards points in the first year (1,250 per monthly billing period with $750 in net purchases). You can earn 5x points on eats/drinks/groceries (up to $2,500/month), 3x on streaming, 2x on travel/transit, and 1x on other purchases.
With the Scotiabank Passport Visa Infinite Card, you can earn up to 60,000 bonus Scene+ points, including 40,000 points after spending $2,000 in the first 3 months. The card offers 3 Scene+ points per $1 at select grocers and 2 points per $1 on groceries, dining, entertainment, and transit.
The RBC Avion Visa Infinite Card provides a welcome bonus of up to 55,000 Avion points, which includes 35,000 points upon approval and an additional 20,000 points after spending $5,000 in the first 6 months. This card is ideal for travelers looking to maximize rewards on travel-related expenditures.
When choosing a credit card, consider factors like the annual fee, reward rates, and the types of purchases you typically make. Assess whether the rewards and benefits align with your spending habits, and check if the card offers perks like travel insurance or purchase protection.
Yes, many credit cards in Canada charge annual fees, which can vary widely. Some entry-level cards may have no fees, while premium cards with higher rewards often come with annual fees that may be justified by the benefits they offer.
To maximize rewards, use your card for categories that earn higher points, such as groceries or dining, if applicable. Additionally, take advantage of welcome bonuses by meeting the required spending thresholds within the designated time frames.
Eligibility for credit cards in Canada generally requires you to be a Canadian resident, at least 18 years old, and possess a good credit score. Some cards may also have income requirements, so it's important to review the specific conditions for each card before applying.
