Same car,
better deal.
Credit Card Comparison Guide 2025 – Canada
| Card | Welcome Offer | Rewards / Cash Back | Interest Rate | Annual Fee | Recommended Credit Score |
|---|---|---|---|---|---|
| BMO CashBack Mastercard | 5% cashback first 3 months | Up to 3% cashback | 21.99% | $0 | 660+ |
| American Express Cobalt Card | 15,000 points first year | Up to 5x points per $1 spent | 21.99% | $155.88 | 700+ |
| RBC Cash Back Mastercard | N/A | Up to 2% cashback on groceries, 1% elsewhere | 20.99% | $0 | 650+ |
| Neo Mastercard | N/A | Average 5% cashback (grows with account balance) | 19.99–31.99% | $0 | 640+ |
| Tangerine Money-Back Credit Card | 10% cashback on $1,000 first 2 months | Up to 2% cashback | 20.95% | $0 | 600+ |
| RBC ION+ Visa | 21,000 Avion points | 3 points per $1 spent | 20.99% | $48 | 660+ |
| BMO Preferred Rate Mastercard | 0.99% on balance transfers 9 months | N/A | 13.99% | $29 | 660+ |
| Scotiabank Passport Visa Infinite | 45,000 points | Up to 3x points per $1 spent | 20.99% | $150 | 700+ |
| American Express Aeroplan Reserve | 85,000 points | Up to 3x points | 21.99% | $599 | 700+ |
| BMO Ascend World Elite Mastercard | 90,000 points | Up to 5x points per $1 spent | 21.99% | $0 first year ($150 after) | 760+ |
Looking for the best credit card in Canada in 2025? With dozens of options available, choosing the right card can feel overwhelming. This guide breaks down top Canadian credit cards, highlighting rewards, cash back, interest rates, annual fees, and welcome bonuses to help you pick the card that best fits your lifestyle.
How to Choose the Right Credit Card
Before comparing cards, consider:
- Your spending habits: Do you spend more on groceries, travel, or everyday purchases?
- Rewards type: Cash back, travel points, or a combination?
- Annual fees: Some cards offer premium rewards but charge higher fees.
- Interest rates: Look for low-interest or promotional rates if you carry a balance.
- Credit score requirements: Cards range from moderate (600+) to excellent (760+).
Card Categories
1. Cash Back Cards
Ideal for everyday spending with rewards directly deposited into your account.
- BMO CashBack Mastercard – Great first 3 months bonus.
- Tangerine Money-Back Credit Card – Best for new cardholders looking to earn fast cashback.
2. Travel & Rewards Cards
Earn points to redeem on flights, hotels, or experiences.
- American Express Cobalt Card – Flexible Membership Rewards points.
- RBC ION+ Visa – Avion points for flights and travel perks.
3. Low Interest & Balance Transfer Cards
Perfect for consolidating debt or paying off high-interest balances.
- BMO Preferred Rate Mastercard – 0.99% on balance transfers.
- Scotiabank Value Visa – Introductory low-interest for 9 months.
4. Premium Cards
High-end rewards and exclusive perks for frequent spenders.
- American Express Platinum Card – 100,000 points welcome.
- BMO eclipse Visa Infinite Privilege – 120,000 points and premium benefits.
Things to Keep in Mind
- Annual Fees: Some cards waive the fee in the first year—factor this into your calculation.
- Intro Offers: Limited-time promotions can give a huge bonus but have spending requirements.
- Credit Score: Applying for multiple cards can affect your score, so choose wisely.
- Interest Rates: Rewards are great, but high-interest rates can quickly outweigh benefits if you carry a balance.
Quick Tip for 2025
If your goal is saving money while getting rewards, consider starting with a no-fee cashback card, like RBC Cash Back Mastercard or Neo Mastercard, before moving on to premium cards once your credit improves.
Where to Apply
Check the issuer’s website for the latest offers, or use CarRefinancing.ca’s credit card comparison tool to filter cards by:
- Rewards type
- Interest rates
- Annual fees
- Credit score requirement
This ensures you apply for cards you’re likely to be approved for while maximizing your benefits.
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