Best Credit Cards in Canada for 2019

Best Credit Cards in Canada for 2019

Best Credit Cards in Canada for 2019

Choosing the best credit cards in Canada could help you save a lot of money even tens of thousands of dollars a year. Either it’s through lower prices, higher reward points on credit cards or simply valuable perks such as travel, medical Insurance, or even car rental savings, every single dollar out of your pocket counts.

If you manage your credit the best way and you pay off your monthly balance earlier, definitely you will come out ahead. There’s a lot of barrage credit card available on the market, therefore choosing the right one for you may be overwhelming and stressful. So, we’ve done our research and list out the best credit cards in Canada for you.

We considered numerous factors to arrive at the best credit cards offer in Canada, for example, we considered factors like welcome bonuses, great cash back value, rental car discounts, elastic traveling, annual fee, interest rate insurance packages, and more.

Everyone’s card needs and usage are different and change over time. Thus, we advise taking into consideration all your spending and financial activity when choosing a credit card.

Overall Best Credit Cards Canada in 2019 

Credit CardCredit Card TypeSpecial Card FeatureAnnual Fee
Scotiabank Momentum Visa Infinite Cash Back 10% for 3 months 4% on grocery and gas 2% on pharmacy and bills 1% on the rest $99 First Year Fee
American Express Gold Rewards Rewards 25000 bonus pts, 2 pts/$ on grocery, gas, pharmacy, and travel, 1 pt/$ on everything else $150
The BMO® World Elite™ Mastercard® Rewards 35000 bonus pts, 2 pts/$ on any purchases $150
Western Rewards® Mastercard® Rewards 20000 bonus pts, 1 pts/$ on any purchases $0
Scotiabank Passport Visa Infinite No Foreign Transaction Fee 25000 bonus pts, 0% foreign fee, 2 pts /$ on grocery, dining, and entertainment $139
American Express Essential Card Low Rate 8.99% interest rate on both purchases and cash advances $0
MBNA True Line Mastercard Balance Transfer 0% balance transfer rate for 10 months $0
Refresh Financial Visa Establish Credit Secured card with lowest security deposit ($200) $48.95 - $12.95 annual + $3 monthly fee
BMO SPC Cash Back MasterCard Student/Establish Credit 5% on all purchases (first 3 months), 10-15% discount at retailers $0

Best Credit Card for Cash Back Promotion

Scotia Momentum Visa Infinite  

Qualification Criteria:
– Required credit score: good – excellent
– Required minimum income: $60000
– Annual fees: $99 First year free

Offers:
– Free annual fee for the first year
– Generous cash back: 4% cash back for grocery runs and gas (up to $1,000 annually and 1% thereafter). 2% on drug stores and reoccurring bills, and 1% 1% cash back on all other purchases.
– Gold-star travel benefits: travel insurance coverage, including baggage loss, medical insurance, and car rental coverage

Meridian Visa Infinite Cash Back Best Credit Cards in Canada for 2019

Qualification Criteria:
– Required credit score: good – excellent
– Annual fees: $99 First year free (for a limited time)

Offers:
– Free annual fee for the first year
– 4% cash back on gas and groceries (up to $1,000 annually)
– 2% cash back on pharmacy and 1% cash back on all other purchases

Best Travel Credit Card

American Express Cobalt Best Credit Cards in Canada for 2019

The American Express Cobalt credit card comes with a lot of goodies for those who love to tour from city to city.

Qualification Criteria:
– Required credit score: fair–good
– Required minimum income: $0
– Annual fees: $120

Offers:
– 2,500 points for every month that you spend $500 on your card at the very first calendar year, that’s up to a $300 value for the first year
– 5 points on food delivery, groceries, and restaurants
– 2 points on travel and transit buy which includes taxis, public transportation, and eligible flight tickets
– 1% cash back on all other purchases with your credit card
– Specific flight delay insurance, lost or stolen luggage insurance, hotel/motel burglary insurance, and emergency travel insurance, and more.

Best Credit Card for Insurance Coverage

BMO® World Elite™ Mastercard® Best Credit Cards in Canada for 2019

Qualification Criteria:
– Required credit score: good – excellent
– Required minimum income: $80000
– Annual fees: $150

Offers:
The BMO® World Elite™ Mastercard credit card includes an extensive array of travel insurance deals.

– Welcome bonus of 35000 points (after spending $3000 with your card in the first 3 months)
– Out-of-province emergency health care insurance
– BMO World Elite credit card has $2 million worth of coverage on rental cars, trip cancellation, trip interruption, flight delay, and baggage
– $0 annual fee for the first year
– 2 points on every $1 spent on all eligible purchases
– $640 in cash value almost instantly to new cardholders

Best Credit Card for No Foreign Transaction Fees

Rogers World Elite Mastercard Best Credit Cards in Canada for 2019

Qualification Criteria:
– Required credit score: poor–fair
– Minimum personal income required: $80000
– Required household income of $150,000
– Annual fees: $0

Offers:
– $0 on annual card fee
– 2% cash back on all Rogers products and services
– 1.75% cash back on all purchases in Canadian dollars
– 4% cash back on all purchases made with foreign currencies
– Comprehensive travel insurance plan for 10 days (3 days for those aged 65+)
– Purchase Protection and Extended Warranty

Best Credit Card Low-Interest Rate

American Express Essential™ Credit Card Best Credit Cards in Canada for 2019

Qualification Criteria:
– Required credit score: fair–good
– Required minimum income: N/A
– Annual fees: $0

Offers:
– 8.99% fixed interest rate on new purchases & cash advances
– $0 Annual fee
– 1.99% balance transfer rate for your initial 6 months
– 3% balance transfer fee
– Upon expiry of the 6-month promo rate, your APR will go to and stay at 8.99% for your transferred balances

Best Credit Card for No-Fee Balance Transfers

American Express® AIR MILES®* Credit Card Best Credit Cards in Canada for 2019

Qualification Criteria:
– Required credit score: fair-good
– Required minimum income: $0
– Annual fees: $0

Offers:
– This card offers you no-fee on your balance transfer
– You’ll be charged only 1.99% interest on the balance for the first 6 months

Note: it is critical not to forget that by the ending of the low-interest balance transfer period, you’ll start paying a high interest rate of 22.99% on those balances you transferred.

Best Credit Card If You’re a Student

BMO SPC Cash Back Mastercard Best Credit Cards in Canada for 2019

Qualification Criteria:
– Required credit score: null
– Required minimum income: $0
– Annual fees: $0

Offers:
– $0 Annual fee
– $80 Welcome bonus
– 1% cash back on all purchases after the welcome bonus ends
– 1% cash back ($60 annual reward fee when you spent $6,000 with your credit card)
– $0 income required
– You can get 10-15% discounts at hundreds of retailers across Canada through SPC

Knowing your spending habit and getting the unique credit card that suit you is essential for financial stability and comfort. Your method for selecting a credit card in Canada should be based on the issuer, card feature and more and see which card provides the most benefit to your essential needs.

Furthermore, if you need any form of help when making choosing your credit card, feel free to make it know via the comment section or contact us at Financefeat via email, and we’ll give you all the necessary help you require in choosing the best credit card in Canada.

 

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