1.American Express Cobalt® Card
American Express
- 5%Points on dining, groceries, and food delivery
- 3%Points on streaming
- 2%Points on travel/transit/gas
- 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 dining, groceries, and food delivery, 3x on streaming, 2x on travel/transit/gas, and 1x on other purchases.
The American Express Cobalt® Card stands out as the top choice because it offers an exceptional rewards structure with 5x points on dining and groceries, making it ideal for those who frequently spend in these categories. Its flexibility in redeeming points for travel or statement credits further enhances its value, earning it the #1 spot.
Pros:
- High rewards on everyday spending
- Flexible redemption options
Cons:
- Monthly fee may be high for some
- Spending cap on top rewards
2.Scotiabank Gold American Express® Card
Scotiabank
- 6%Points on groceries, dining, and entertainment
- 5%Points on other categories
- 1%Points on all other purchases
Earn up to 45,000 Scene+ points by spending $2,000 in the first three months.
Earn 6x points on groceries, dining, and entertainment, and 1x on all other purchases.
What sets the Scotiabank Gold American Express® Card apart is its impressive earning potential of 6x points on groceries and dining, making it a top contender for foodies and travelers alike. The first-year annual fee waiver adds to its appeal, providing significant value for new cardholders.
Pros:
- No foreign transaction fees
- Strong earning rates on travel and dining
Cons:
- Annual fee applies after the first year
- Spending requirement for welcome bonus
3.RBC Avion® Visa Infinite Card
RBC Royal Bank
- 1.25%Points on travel purchases
- 1%Points on all other purchases
Earn up to 55,000 Avion points, consisting of 35,000 points upon approval and 20,000 bonus points after spending $5,000 in the first six months.
Earn 1.25 points per $1 on travel purchases and 1 point per $1 on all other purchases.
The RBC Avion® Visa Infinite Card shines for its flexibility in redeeming points for flights on any airline without blackout dates, making it a favorite among frequent travelers. Its substantial welcome bonus further enhances its attractiveness, providing significant value for new applicants.
Pros:
- Flexible redemption options for travel
- No blackout dates on flights
Cons:
- Higher spending requirement for welcome bonus
- Annual fee applies
- 5%Points on travel
- 3%Points on dining, entertainment, and bills
- 1%Points on all other purchases
Earn up to 100,000 to 115,000 bonus points, valued at up to $1,600+, with tiered minimum spending requirements.
Earn 5x points on travel, 3x on dining, and 1x on all other purchases.
A key differentiator for the BMO Ascend™ World Elite® Mastercard® is its impressive welcome bonus of up to 115,000 points, which can be earned through tiered spending. This card is particularly appealing for those who travel frequently and want to maximize their rewards on travel and dining.
Pros:
- High welcome bonus potential
- First-year annual fee waived
Cons:
- Significant spending required for full bonus
- Annual fee applies after the first year
Final Words
As you navigate the options for credit cards suitable for good credit in Canada this March, remember that the best choice aligns with your spending habits and financial goals. Take time to compare the features, rewards, and fees of each card to 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). This is a great way to start earning rewards right away.
With the Scotiabank Gold American Express® Card, you earn 6x points on groceries, dining, and entertainment, and 1x on all other purchases. This makes it an excellent choice for those who frequently spend in these categories.
The RBC Avion® Visa Infinite Card allows you to earn up to 55,000 Avion points, consisting of 35,000 points upon approval and 20,000 bonus points after spending $5,000 in the first six months. You earn 1.25 points per $1 on travel purchases and 1 point per $1 on all other purchases.
The American Express Cobalt® Card has an annual fee of CA$191.88, while both the Scotiabank Gold American Express® Card and the RBC Avion® Visa Infinite Card have annual fees of CA$120. Consider these fees when evaluating the potential rewards you can earn.
To improve your chances of approval, maintain a good credit score, ensure stable income, and avoid applying for multiple cards at once. It's also beneficial to have a low debt-to-income ratio and to review your credit report for any inaccuracies.
When choosing a credit card, consider the annual fee, interest rates, rewards programs, and any additional benefits such as travel insurance or cash back. Align these factors with your spending habits to maximize your rewards and minimize costs.
Many credit cards impose foreign transaction fees, typically around 2.5% to 3%. Check the specific card terms before traveling to avoid unexpected charges on international purchases.
