Best Overall Credit Cards in Canada
Our highest-rated cards across every category, ranked by the MoneyMint Score — a weighted mix of rewards value on a typical Canadian budget, insurance, redemption flexibility, welcome bonus and annual fee. Whether you lean travel points or cash back, these are the strongest all-round picks right now.
Short answer: The American Express Cobalt Card is our highest-rated card overall (MoneyMint 4.8/5), tied on points with the BMO CashBack World Elite Mastercard (#3). The Cobalt earns 5 points per $1 on eats and drinks — groceries and restaurants included — which we value at roughly 8.5% back on groceries, for $15.99 a month ($191.88 a year); the BMO card pays 5% cash back on groceries for a $139 fee waived in year one but needs $80,000 of income. If you spend abroad or want a Visa, the Scotiabank Gold American Express (#2, no foreign transaction fee) and the CIBC Aeroplan Visa Infinite (#4, our top travel card) are the closest alternatives. Figures checked September 14, 2026 against issuer pages.
Our Picks, Ranked
among all cards we review
American Express Cobalt Card
Why it’s #1: 5X on eats and drinks. Membership Rewards points: 5X on eligible eats & drinks in Canada — confirmed to include groceries, restaurants, and food delivery — with combined…
Good for
- ✓Front Of The Line presale/reserved tickets for concerts, theatre, and events
- ✓The Hotel Collection perks for 2+ night stays booked via Amex Travel
Worth knowing
- !The ‘no annual fee’ framing is misleading — it’s billed monthly and totals $191.88/year…
- !No airport lounge access.
among all cards we review
Scotiabank Gold American Express® Card
Why it’s here: Best for groceries. 6x Scene+ points at Sobeys-family grocery stores; 5x other groceries/dining/food delivery/entertainment; 3x gas/transit/select streaming; 4x…
Good for
- ✓Discounted Priority Pass lounge membership
- ✓Travel medical insurance $1,000,000
Worth knowing
- !$120/yr fee with no universal first-year waiver (rebate only via an existing Scotiabank package)
- !Bonus categories cap at $50,000 combined spend/yr
among all cards we review
BMO CashBack World Elite Mastercard
Why it’s here: Highest cash back rates. 5% cash back on groceries (up to $500/month), 4% on transit, 3% on gas and EV charging, 2% on recurring bills and 1% on everything else — tied with the Cobalt on points, but needs $80,000 of income.
Good for
- ✓Tiered cash back up to 5% on groceries, with no cap on the 1% base rate
- ✓Cash back can be redeemed anytime for as little as $1
Worth knowing
- !High income requirement: $80,000 individual or $150,000 household
- !$139 annual fee after year one
among all cards we review
CIBC Aeroplan Visa Infinite Card
Why it’s here: Top-rated travel card. 1.5 Aeroplan points per $1 on gas, EV charging, groceries and Air Canada purchases, a free first checked bag on Air Canada, and up to 50,000 points (about $1,000) with the $139 fee waived in year one.
Good for
- ✓Free first checked bag for you and up to 8 companions on Air Canada flights
- ✓Up to 50,000 Aeroplan points with the $139 fee waived in the first year
Worth knowing
- !$139 annual fee from year two; $60,000 personal or $100,000 household income required
- !No lounge access at this tier — that is reserved for the Aeroplan Visa Infinite Privilege
among all cards we review
TD Aeroplan Visa Infinite Card
Why it’s here: Free checked bags on Air Canada. 1.5 Aeroplan points per $1 on gas, EV charging, groceries and Air Canada purchases, a free first checked bag for you and up to eight companions, and up to 50,000 points with the $139 fee rebated in year one.
Good for
- ✓Free first checked bag (up to 23kg/50lb) for the cardholder plus up to 8 companions on…
- ✓Welcome offer of up to 50,000 Aeroplan points plus a first-year annual fee rebate
Worth knowing
- !$139 annual fee, plus $75 for each additional cardholder
- !Relatively high income requirement: $60,000 personal or $100,000 household
among all cards we review
TD Cash Back Visa Infinite Card
Why it’s here: Broadest cash back categories. 3% cash back on groceries, gas & EV charging, public transit, recurring bill payments, and streaming/digital gaming & media purchases, each capped…
Good for
- ✓Travel medical insurance up to $2 million, 10 days per trip for cardholders under 65…
- ✓Delayed and lost baggage insurance up to $1,000 per covered person per trip
Worth knowing
- !Two unresolved data conflicts on TD’s own official sources: purchase APR (20.99% vs.
- !21.99%) and minimum cash-back redemption amount ($1 vs.
among all cards we review
TD First Class Travel Visa Infinite Card
Why it’s here: Best travel rewards rate. 8x TD Rewards points on travel booked via Expedia For TD; 6x groceries/dining/transit; 4x recurring bills plus streaming/gaming/digital…
Good for
- ✓Travel medical insurance up to $2,000,000 (21 days; 4 days if 65+)
- ✓Flight/trip delay $500 (4+ hour delay)
Worth knowing
- !$139/yr ongoing fee
- !Best earn rate (8x) is locked to TD’s own Expedia For TD portal, not general travel bookings
among all cards we review
Scotia Momentum® Visa Infinite +* Card
Why it’s here: Best for cash back. 4% cash back on groceries and recurring bills/subscriptions; 2% on gas, EV charging, transit, rideshare, food delivery; 1% on everything else and on…
Good for
- ✓Travel medical insurance up to $1,000,000
- ✓Trip cancellation ~$1,500/person
Worth knowing
- !$120/yr fee returns after the first year
- !4%/2% bonus rates cap at $25,000 per category per year, then drop to 1%
All 6 at a Glance
Compare any cards side by side →| # | Card | Annual fee | Welcome bonus (est.) | Rewards | Credit needed | Rating | |
|---|---|---|---|---|---|---|---|
| 1 | American Express Cobalt Card | $191.88 | $255 | ~8.5% groceries | Very good | 4.8 ★ | Apply |
| 2 | Scotiabank Gold American Express Card | $120 | $500 | ~6% groceries | Good | 4.7 ★ | Apply |
| 3 | BMO CashBack World Elite Mastercard | $139 (yr 1 waived) | $650 | ~5% groceries | Very good | 4.6 ★ | Apply |
| 4 | CIBC Aeroplan Visa Infinite Card | $139 (yr 1 waived) | $1,000 | ~3% groceries | Very good | 4.6 ★ | Apply |
| 5 | TD Aeroplan Visa Infinite Card | $139 (yr 1 rebated) | $1,000 | ~3% groceries | Very good | 4.4 ★ | Apply |
| 6 | TD Cash Back Visa Infinite Card | $139 (yr 1 rebated) | $600 | ~3% groceries | Very good | 4.2 ★ | Apply |
| 7 | TD First Class Travel Visa Infinite Card | $139 (yr 1 rebated) | $800 | ~3% groceries | Very good | 4.2 ★ | Apply |
| 8 | Scotia Momentum Visa Infinite + Card | $120 (yr 1 waived) | $300 | ~4% groceries | Very good | 4.0 ★ | Apply |
Welcome bonus values use MoneyMint’s points valuations, not the issuer’s advertised “up to” figure. Rewards rates are estimated cash-equivalent values. Cards are ordered by MoneyMint Score. Star ratings on this page compare the cards shown here: the highest-scoring card gets 4.8 and the others are scaled to it, so a card’s review page, which compares it with its own group, can show a different rating. Methodology
What’s the Best Overall Credit Card in Canada Right Now?
On our scoring the Scotiabank Gold American Express comes out on top of this group, largely because it pairs strong grocery and dining earn rates with no foreign transaction fee for a $120 annual fee. Treat that as a starting point rather than an answer: if most of your spending is dining and food delivery the Amex Cobalt earns more, and if you want the largest welcome bonus, the RBC Avion Visa Infinite is currently the richest of the six.
Do I Have to Pay an Annual Fee to Get a Good Card?
No, but every card on this page charges one, because no-fee cards rarely earn enough to top a general ranking. A fee is only worth paying if your everyday spending earns it back: a $120 card needs roughly $6,000 a year of bonus-category spending at a 2% return just to break even. If you would rather not run that math, our best no annual fee credit cards page covers the strongest $0 options.
How Does MoneyMint Decide Which Cards Are Best Overall?
Every card gets a 0–100 MoneyMint Score built from six weighted factors: ongoing rewards (40%), welcome bonus value (20%), insurance (15%), redemption flexibility (10%), annual fee (10%) and perks (5%). Cards are then rated against others of the same kind rather than against the whole market, so a top-rated no-fee card is the best no-fee card, not the best card overall. The full method is on how we rate credit cards.
Which of These Cards Has No Foreign Transaction Fee?
Only the Scotiabank Gold American Express. The other five charge the usual 2.5% on purchases made in another currency — about $75 on a $3,000 trip, which is enough to matter if you travel or shop internationally more than occasionally. More options on our no foreign transaction fee cards page.
Is It Worth Carrying More Than One of These Cards?
It can be, if the second card covers a gap rather than repeating a strength — one card for its bonus categories plus one with no foreign transaction fee for travel is a common pairing. What rarely pays off is holding two cards with similar earn rates and paying both annual fees. Worth knowing too: none of these are low-interest cards. The lowest purchase rate on this page is 20.99%, so if you sometimes carry a balance, interest will outrun anything you earn in rewards.
Rates, fees and offers are as last verified by MoneyMint and may have changed — always confirm current terms on the issuer’s official page before applying. Some links on this page may be affiliate links, meaning MoneyMint could earn a commission if you apply through them, at no extra cost to you. This never affects which cards we feature or how we rank them. This is general information, not personalized financial advice. Where a card earns points, “estimated value” figures convert points to dollars using MoneyMint’s own point valuations — see our points value calculator.