Compare the Best Credit Cards in Canada

Find the perfect card for your lifestyle with Insurdinary
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Learn all about our recommended credit cards, what makes them stand out, and how to get the best rates below.

Our Top Picks and Featured
Credit Cards for 2023

Neo

Experience why the Neo Card and Neo Secured card have been voted the best cashback cards in Canada. With over 7000 partnered retailers across the country, earning you an average of 5% cashback, this card is perfect for both big box and local shopping enthusiasts.

Neo Card

Interest Rates
19.99%-26.99% (P) / 22.99%-28.99% (CA)
Annual Fee
$0.00
Min. Income
N/A
Show more details
$25 cashback2 when you sign up for a Neo Card
Earn an average of 5% cashback3 from thousands of local and national Neo partners
No annual or monthly fees and no minimum balance required
Sign up in 3 minutes and start using your digital card instantly while you wait for your physical card to arrive
Purchase rate of 19.99%-25.24% and a cash advance rate of 21.99%-25.24% for Quebec residents

Secured Neo Card

Interest Rates
19.99%-26.99% (P) / 19.99%-26.99% (CA)
Annual Fee
$0.00
Min. Income
N/A
Show more details
$25 cashback2 when you sign up for a Neo Secured Card
Earn an average of 5% cashback3 from thousands of local and national Neo partners
No annual or monthly fees
Fund your card in as little as 30 minutes with only $50
Purchase rate of 19.99%-25.24% and a cash advance rate of 21.99%-25.24% for Quebec residents

Tangerine

Tangerine Bank offers just one credit card, but it’s a unique one. It offers 2% cash back on a variety of categories, including dining, fuel, lodging, pharmacy, and recurring bill payments. Unlike many cash back cards, there is no limit to how much cash back you can earn.

Tangerine also offers a tool to help you track your spending. It analyses purchase categories and helps you see where you’re spending your money and where you could be saving.

Tangerine Money-Back Credit Card

Interest Rates
19.95% (P) / 19.95% (CA)
Annual Fee
$0.00
Min. Income
$12,000
Show more details
Best No-Fee Cash Back Credit Card 2022 (GreedyRates)
Best Balance Transfer Credit Card 2022 (GreedyRates)
Money-Back Rewards are unlimited and paid monthly
Earn 2% Money-Back Rewards on your everyday purchases in up to three eligible categories of your choice and 0.5% Money-Back Rewards on all your other everyday purchases

KOHO

Experience the best account for credit building and cashback opportunities with KOHO. This prepaid Mastercard®, along with its very user-friendly app is fast becoming Canada's favourite spending, budgeting and saving credit card, which also acts like a bank account.

KOHO has partnered with People's Trust, a federally regulated bank to hold the money you load onto the card and is eligible for CDIC insurance.

KOHO Premium Prepaid Mastercard

Interest Rates
0% (P) / 0% (CA)
Annual Fee
$84.00
Min. Income
N/A
Show more details
Free budgeting tools, automatic billing, e-transfer, and direct deposit are available
Sign up within 5 mins and get instant approval - a virtual card will be issued and ready to use right away
No minimum deposit, no credit check, and no annual interest rates
30-day free trial, $9/month or $84/year subscription fee
$0 credit card surcharge fee, foreign exchange fee, ATM fee, or e-Transfer fee
2% instant cash back on Groceries + Bills/Service + Food/Drinks, 0.5% on all other categories - up to 6% extra cash back with partnered merchants
Earn 2% interest with the entire account balance with no minimum deposit required

KOHO Prepaid Mastercard

Interest Rates
0% (P) / 0% (CA)
Annual Fee
$0.00
Min. Income
N/A
Show more details
Sign up within 5 mins and get instant approval - a virtual card will be issued and ready to use right away
No credit card surcharge fee, no monthly fee, no minimum deposit, no credit check, and no annual interest rates.
Up to 5% instant cashback rewards on gas, groceries, travel and so much more
Earn interest with the entire account balance with no minimum deposit required
Optional credit building plan available with a low monthly subscription fee
Free budgeting tools, automatic billing, e-transfer, and direct deposit are available

National Bank

National Bank offers a wide range of credit card options to suit your needs. From low-interest rates to no annual fee to travel to their cash-back rewards program, National Bank offers all of the features a savvy Canadian needs. While some of the high-rewards cards require income minimums to qualify, Scotiabank offers student cards and other products for any income level.

Platinum Mastercard

Interest Rates
20.99% (P) / 22.49% (CA)
Annual Fee
$70.00
Min. Income
N/A
Show more details
Earn up to 2 points per $1 spent on eligible purchases
Travel insurance for up to 10 days outside your province of residence, including trip cancellation and travel interruption insurance
Legal disclaimer

Credit terms

Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.

Example of credit charges over a 30-day period

Annual interest rate Average balance
$500 $3,000
22.49% $9.24 $55.45
20.99% $8.63 $51.76
12.90% $5.30 $31.81
8.9% $3.66 $21.95

*Variable interest rate in effect on September 1, 2021

Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

Details of eligible rewards points

Certain restrictions apply. For more information, consult the Rewards plan section or the Plan rules regarding how to earn points.

The amount of points earned on grocery and restaurant purchases depends on the total gross monthly amount charged to the credit card account, regardless of the purchase category. You will earn 2 points for every dollar in eligible grocery and restaurant purchases until a total of $1,000 in gross monthly purchases is charged to the account. After that, you will earn 1.5 points per dollar in eligible grocery and restaurant purchases. The total gross monthly amount is calculated based on your monthly billing period. Grocery purchases include any purchase made at a store that primarily sells food, i.e., grocery store, delicatessen, supermarket, greengrocer or speciality food store. Ready-to-eat meal services and meal delivery services are eligible. This definition excludes purchases made at retail stores and big box stores whose core business is the sale of non-food items. Certain merchants may sell products and services that appear identical or similar to those sold by eligible merchants, or may be separate merchants located on the same premises as eligible merchants, but are classified in different categories by Mastercard. For purchases at other merchants, you will only earn regular rewards points. Restaurant purchases include purchases at a restaurant, fast food restaurant, bar, nightclub or pub. For a full list of Mastercard codes associated with eligible merchants, download the terms and conditions of the À la carte Rewards Plan®.

To earn 1.5 points per dollar in purchases, you will need to purchase gas or an electrical vehicle charge from a service station or from certain big box stores. Certain merchants may sell products and services that appear identical or similar to those sold by eligible merchants, or may be separate merchants located on the same premises as eligible merchants, but are classified in different categories by Mastercard. For purchases at other merchants, you will only earn regular rewards points. For a full list of Mastercard codes associated with eligible merchants, download the terms and conditions of the À la carte Rewards Plan®.

Recurring bill payments are defined as monthly or regular payments automatically charged by a merchant to your National Bank Platinum Mastercard credit card. Not all merchants offer recurring bill payments, and not all recurring payments are considered recurring bill payments. Certain payments therefore may not entitle you to earn more points.

To earn 1.5 points per dollar in purchases, you must make your eligible purchases via the À la carte TravelTM Agency section of our À la carte RewardsTM site.

For example, if each month you charge $400 in groceries, $200 in gas, $100 in recurring bill payments and $150 in other purchases to your card, your $850 in purchases will earn you 1,350 points, as follows: 800 points for grocery purchases (since the total gross monthly amount is $850, i.e., under $1,000), 300 points for gas purchases, 150 points for recurring bill payments and 100 points for other purchases.

Travel and health insurance conditions

This coverage applies to purchases and rentals charged in part to the card, except out-of-province medical/hospital insurance for which the travel arrangements need not be charged to the card, and lost or delayed luggage insurance where all transportation costs must be charged to the card. This coverage applies to the primary cardholder, their spouse and/or dependent children when they (spouse and/or dependent children) travel with the primary cardholder. Extended warranty coverage applies to most new items purchased with the card, in Canada or abroad, as long as the manufacturer's warranty is valid in Canada. Certain conditions and restrictions apply. For more information and for details of your insurance coverage, please consult the insurance certificate associated with your card.

Mobile device protection

The device must have been purchased using your National Bank Platinum Mastercard credit card, or your phone plan must be paid via recurring payments charged to your National Bank Platinum credit card starting September 1, 2022. For complete terms and conditions, please consult the insurance certificate associated with your card.

MC1 Mastercard

Interest Rates
20.99% (P) / 22.49% (CA)
Annual Fee
$0.00
Min. Income
N/A
Show more details
Access funds anywhere in the world
Protect yourself against unauthorized purchases with the MasterCard® Zero Liability program
$500 min. credit limit
Legal disclaimer

Credit terms

Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.

Example of credit charges over a 30-day period

Annual interest rate Average balance
$500 $3,000
22.49% $9.24 $55.45
20.99% $8.63 $51.76
12.90% $5.30 $31.81
8.9% $3.66 $21.95

*Variable interest rate in effect on September 1, 2021

Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

mycredit Mastercard

Interest Rates
20.99% (P) / 22.49% (CA)
Annual Fee
$0.00
Min. Income
N/A
Show more details
1% cashback on restaurant transactions and recurring automatic transfers
0.5% cashback on all other eligible purchases
Your new mobile devices, purchased with your card, or phone subscriptions paid for with your card or by automatic transfers from your mycredit account are protected against theft or damages for a period of up to 2 years
Legal disclaimer

Credit terms

Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.

Example of credit charges over a 30-day period

Annual interest rate Average balance
$500 $3,000
22.49% $9.24 $55.45
20.99% $8.63 $51.76
12.90% $5.30 $31.81
8.9% $3.66 $21.95

*Variable interest rate in effect on September 1, 2021

Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

Cashback details

Subject to credit approval by National Bank of Canada. The cashback granted is 1% on restaurant purchases and on recurring pre-authorized payments when you use recurring automatic transfers with your mycredit account. The cashback of 0.5% applies to all other eligible purchases during a billing cycle. The account must be in good standing when the cashback is awarded. Your account is in good standing when you comply with the obligations of your cardholder agreement (e.g., making your minimum payment by the due date). These eligible automatic transfers are defined as regular payments that are automatically withdrawn by a merchant on your credit card. Balance transfers, cash advances and fees resulting from the use of the card are excluded from the cashback calculation. For conditions and restrictions that apply to cashback rewards, refer to the Cashback Program [PDF].

Mobile device protection

Subject to the mobile device’s purchase with the card or mobile plan settled by recurring pre-authorized payments from your mycredit account.

Syncro Mastercard

Interest Rates
Prime + 4% (P) / Prime + 8% (CA)
Annual Fee
$35.00
Min. Income
N/A
Show more details
Low interest rates (10.95% on purchases and 14.95% on cash advances and balance transfers)
Purchase protection in case of theft or damage
Extended warranty
Legal disclaimer

Prime rate and interest details

The prime rate means the annual variable interest rate posted by National Bank, from time to time, and used by the Bank to determine the interest rates on the demand loans it grants in Canadian dollars in Canada.

The interest rate for the SYNCRO card consists of a variable prime rate set by National Bank plus a fixed adjustment rate of 4% for purchases and 8% for balance transfers and cash advances. Please note that the annual interest rate for the SYNCRO card will not be less than 8.9% for purchases and 12.9% for balance transfers and cash advances.

Credit terms

Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.

Example of credit charges over a 30-day period

Annual interest rate Average balance
$500 $3,000
22.49% $9.24 $55.45
20.99% $8.63 $51.76
12.90% $5.30 $31.81
8.9% $3.66 $21.95

*Variable interest rate in effect on September 1, 2021

Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

Purchase protection and Extended warranty

This coverage applies to purchases charged to the National Bank Syncro card. Extended warranty coverage applies to most new items purchased with the card, in Canada or abroad, as long as the manufacturer's warranty is valid in Canada. Certain conditions and restrictions apply. For more information and for details of your insurance coverage, please consult the insurance certificate associated with your card.

Allure Mastercard

Interest Rates
20.99% (P) / 22.49% (CA)
Annual Fee
$0.00
Min. Income
N/A
Show more details
Earn 1 point for every $2 spent
Receive $10 cashback for each 1,000 points earned
Purchase protection in case of theft or damage
Extended warranty
Allows you to contribute to the Quebec Breast Cancer Foundation
Legal disclaimer

Cashback details

The cashback is based on a point-accumulation system. You get 1 point for every $2 you spend using your Allure Mastercard® credit card, providing your account is in good standing. Once a year, in January, you will receive a $10 cashback for every 1,000 points earned. The cashback will be paid as a credit applied to your account and cannot be paid in cash. Your account is considered to be in good standing when you fulfill the obligations under your cardholder agreement (e.g., make the minimum payment by the due date). Interest charges, annual fees, balance transfers, cash advances, service charges, insurance premiums, promotional Mastercard cheques and refunded purchases are not eligible for rewards points. For details, see the Terms and conditions [PDF].

Credit terms

Grace period: No interest will be charged on purchases made during the month, provided the client pays the balance in full within twenty-one (21) days of the statement date. This grace period does not apply to cash advances or balance transfers. Minimum payment: If your account balance is lower than $10, you must pay the entire balance. If you reside in the province of Quebec, your minimum payment will correspond to 5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. If you reside outside of Quebec, your minimum payment represents 2.5% of the credit card account balance plus any overdue payment or $10, whichever amount is higher. Account statement: A statement is sent monthly.

Example of credit charges over a 30-day period

Annual interest rate Average balance
$500 $3,000
22.49% $9.24 $55.45
20.99% $8.63 $51.76
12.90% $5.30 $31.81
8.9% $3.66 $21.95

*Variable interest rate in effect on September 1, 2021

Balance transfer and cash advance are subject to credit approval by National Bank. Each balance transfer must be at least $250.

Purchase protection and Extended warranty

Purchase protection applies provided the purchases or expenses are charged to the National Bank Allure Mastercard® credit card account. Certain conditions and restrictions apply. For more information, please consult the insurance certificate for your credit card.

Extended warranty coverage applies to most new articles purchased with the card, in Canada or abroad, provided the manufacturer's warranty is valid in Canada. Certain conditions and restrictions apply. For more information, please consult the guarantee certificate for your credit card.

Contribution to QC Breast Cancer

National Bank donates $0.10 for every $10 charged to an Allure Mastercard® credit card account over a 12-month period to the Quebec Breast Cancer Foundation. The annual donation is capped at $750,000.

What to Know Before
Choosing a Credit Card

Make sure you know what you’re looking at when you compare credit cards in Canada so there are no surprises. Knowing the fees and processes associated with each card is crucial to making the right choice.
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Here are some tips to get you started!

Interest Rate

Your interest rate varies by card. This interest is charged on the carried balance, and can usually be avoided if you pay the balance in full before the end of the grace period. Interest is often higher on cash advances, compared to card purchases.

Fees

Many cards carry an annual fee. There may also be fees for late payments or one time fees for cash advances. Cash advance fees are in addition to the interest rate charged for the advance.

Sign Up Process

Sign up and approval processes vary by card. Some are extensive, with credit rating, assets, and income are all being considered for approval. Other cards have lower requirements and simple approval processes.

Your Credit Score

Be careful not to apply for too many cards at one time, or for cards that are likely to be denied. Too many inquiries from lenders in a short period can negatively impact your credit rating.

Whether You Are Pre-Approved

You may have received notices about pre-approval for credit cards in the past. Pre-approval is an estimate, since the company has not yet received permission to pull your credit information.

Looking for the BestCredit Card in Canada?

Choosing the right credit card can make a huge difference in the fees and interest you pay and the rewards you earn. It can also be a challenge to find the best card for your financial situation and current credit rating.

While credit card companies often showcase the best features on their websites, you’ll have to spend tons of time reading over the small print to find the rest of the details. This can make it very difficult to compare one card to another.

Fortunately, Insurdinary.ca makes comparing credit cards easy. Insurdinary lets you compare the details of each card, side by side, so you save time and make an informed decision.
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Credit Cards
Frequently Asked Questions (FAQ)

You may have some common questions regarding comparing credit cards in Canada. Hopefully, our answers will make your decision a bit easier.

How can I redeem card rewards points?

One of the biggest differences between rewards cards is the way you can redeem your points. Some can be redeemed as a statement credit toward your balance, while others can be redeemed for airmiles, hotel points, gift cards, or other perks. Some can even be transferred to other rewards programs, like frequent flier or hotel VIP clubs.

Can a credit card help me improve my credit score?

Used responsibly, credit cards can help build your credit. Available credit is a factor in your credit score, and opening a new card can increase that number. Percentage of credit used is another factor, so keeping your balance low will also benefit your credit rating.

Are there cards specifically for those with low or no credit?

Those with little credit history or negative history can use a credit card to help build credit. The most likely cards in this case would be secured or guaranteed cards, since they use your deposit to support your line of credit.

What’s the best way to avoid fees and negative impacts on credit?

Timely payments are the most important factor in avoiding fees and credit damage. Set up automated payments to ensure you never miss a due date. To minimize or eliminate interest, set your auto payment before the end of the grace period each month and set it to cover your balance, not just the minimum due.

Compare More Credit Cards

Still didn’t find the right card for you? Click here for the complete credit card selection in Canada.

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