1.American Express Cobalt® Card
American Express
- 5%Points on eligible eats & drinks
- 3%Points on streaming
- 2%Points on transit/gas
- 1%Points on other purchases
Earn 1,250 points for each of the first 12 monthly billing cycles where you spend at least $750 in net purchases.
Earn 5 points for every $1 on eligible eats & drinks including eligible restaurants, bars, cafes, grocery stores, and food delivery in Canada, up to $2,500 monthly.
21.99%
21.99%
The American Express Cobalt Card stands out as the top choice because it offers exceptional earning rates on everyday spending categories like groceries and dining, making it ideal for food lovers and frequent diners.
Pros:
- High earning rates on food and drinks
- Flexible rewards redemption options
Cons:
- Monthly fee can add up
- Spending limits on high earn categories
2.Scotiabank Passport Visa Infinite Card
Scotiabank
- 3%Points on groceries, dining, and transit
- 1%Points on all other purchases
Get up to 60,000 bonus Scene+ points with minimum spend.
Earn 3 Scene+ points on groceries, dining, and transit, and 1 point on all other purchases.
20.99%
22.99%
What sets the Scotiabank Passport Visa Infinite Card apart is its ability to eliminate foreign transaction fees, making it an excellent choice for travelers who frequently shop abroad.
Pros:
- No foreign transaction fees
- Complimentary airport lounge access
Cons:
- High income requirement
- Annual fee may not be waived
3.Tangerine Money-Back Credit Card
Tangerine
- 2%Cash back in customizable categories
- 0.5%Cash back on all other purchases
Get a bonus 10% cash back on up to $1,000 in everyday purchases within the first 2 months.
Earn 2% cash back in up to three customizable categories and 0.5% back on all other purchases.
20.95%
22.95%
The standout feature of the Tangerine Money-Back Credit Card is its flexibility, allowing cardholders to choose their cash back categories, making it a great fit for those who want to tailor their rewards.
Pros:
- No annual fee
- Customizable cash back categories
Cons:
- Lower cash back on non-category purchases
- Limited to three categories
4.American Express The Platinum Card
American Express
- 5%Points on flights and hotels
- 2%Points on dining and food delivery
- 1%Points on all other purchases
Earn 70,000 points after spending $10,000 in the first 3 months, plus 30,000 points upon making a purchase between 15 and 17 months of cardmembership.
Earn 5X Membership Rewards points on flights booked directly with airlines or via Amex Travel and prepaid hotels.
20.99%
30%
This card shines for its luxury travel benefits, offering unparalleled access to airport lounges and travel credits that can easily offset its high annual fee for frequent travelers.
Pros:
- Extensive travel perks
- High earning potential on travel purchases
Cons:
- High annual fee
- Requires significant spending to maximize benefits
- 4%Cash back on groceries, gas, and EV charging
- 2%Cash back on dining and transportation
- 1%Cash back on all other purchases
Earn 10% cash back on the first $3,000 spent in the first 4 months.
Earn 4% cash back on groceries, gas, and EV charging, 2% on dining, transportation, and recurring payments.
21.99%
22.99%
A key differentiator for the CIBC Dividend Visa Infinite Card is its impressive cash back rates on everyday essentials, making it an excellent choice for those who prioritize grocery and fuel spending.
Pros:
- High cash back rates on essentials
- First-year annual fee rebate often available
Cons:
- Requires high income
- Limited to specific categories for high cash back
6.PC World Elite Mastercard
PC Financial
- 4.5%Points at Shoppers Drug Mart
- 3%Points at participating grocery stores
- 1%Points on all other purchases
Earn 20,000 points when you make your first purchase with your new card.
Earn 4.5% back in points at Shoppers Drug Mart and 3% back in points at participating grocery stores.
21.99%
22.97%
This card shines for its high rewards at grocery and pharmacy stores, making it a top choice for those who frequently shop at these locations.
Pros:
- No annual fee
- High rewards at grocery and pharmacy stores
Cons:
- Limited to specific retailers for high rewards
- Requires a minimum income
7.TD Aeroplan Visa Infinite Card
TD Canada Trust
- 1.5%Points on gas, groceries, and Air Canada purchases
- 1%Points on all other purchases
Earn 10,000 points on first purchase, 15,000 after spending $7,500 in the first 180 days, and 15,000 as an anniversary bonus for spending $12,000 within 12 months.
Earn 1.5x points on gas, groceries, and Air Canada purchases, and 1x points on everything else.
21.99%
22.99%
The TD Aeroplan Visa Infinite Card is best for individuals looking to maximize their Aeroplan points on daily spending, especially for those who frequently fly with Air Canada.
Pros:
- Great for Air Canada loyalists
- Includes travel perks like free checked bags
Cons:
- Annual fee applies
- Requires significant spending to maximize rewards
- 5%Points on groceries, restaurants, and utilities
- 1%Points on all other purchases
Earn 20,000 points after spending $2,000 in the first 90 days and 10,000 points for enrolling in paperless statements.
Earn 5 points per $1 on groceries, restaurants, digital media, memberships, and utilities (up to $50,000 annually), and 1 point per $1 on other purchases.
21.99%
22.99%
This card shines for its high-velocity earning potential, making it an excellent choice for those who want to maximize rewards on everyday spending.
Pros:
- High earning potential on everyday purchases
- Flexible redemption options
Cons:
- Annual fee applies
- Requires high income
Final Words
As you consider your options for rewards credit cards this February, remember that the best choice aligns with your spending habits and lifestyle. Take time to compare the features and benefits of each card to ensure you make an informed decision that maximizes your rewards potential.
Frequently Asked Questions
Earn 1,250 points for each of the first 12 monthly billing cycles where you spend at least $750 in net purchases.
Earn 3 Scene+ points on groceries, dining, and transit, and 1 point on all other purchases.
Get a bonus 10% cash back on up to $1,000 in everyday purchases within the first 2 months. After that, earn 2% cash back in up to three customizable categories and 0.5% back on all other purchases.
Yes, many rewards credit cards come with annual fees, which can vary significantly. It's important to weigh these fees against the potential rewards to determine if the card will benefit you based on your spending habits.
Consider your spending habits and preferences, such as whether you spend more on dining, groceries, or travel. Look for cards that offer higher rewards in those categories and review the welcome bonuses to maximize your initial benefits.
To apply for a rewards credit card, you typically need to provide personal information, including your income, credit history, and employment details. Many issuers offer online applications that can be completed quickly.
Yes, many rewards credit cards allow you to redeem points or cash back for travel-related expenses, including flights, hotels, and rental cars. Make sure to check the specific redemption options available with your card.
