CreditCardsCanada.ca presents

The Best Credit Cards of 2019

Sign-up bonuses and rewards are only good if you get a credit card that matches your needs and spending patterns. This list of cards, compiled by our experts, breaks down the best Canadian credit cards.

Best Balance Transfer Card

MBNA True Line® Mastercard® credit card

Card Details

Main Feature

0% for 12 months on balance transfers. Limited time offer expires Feb 29, 2020

Annual Fee

$0

Interest Rates

Purchase APR: 12.99%

Balance Transfer APR: 0% for 12 months

Cash Advance APR: 24.99%

† Promotional Rates: Balance Transfers: 0%

This Promotional Rate applies to any balance transfers made within 90 days of your account opening (each, an “eligible transaction”) and will remain in effect for 12 Statement Periods from the transaction date of each eligible transaction. The Promotional Rate will increase and the remaining balance of the eligible transaction will become subject to the Standard Rate for balance transfers either: (1) on the first day of the first Statement Period that occurs after the expiry of the Promotional Rate; or (2) on the first day of the second Statement Period following any late Minimum Payment.

Standard Rates:
Purchases: 12.99%
Balance transfers and access cheques: 12.99%
Cash advances: 24.99%

Default Rates:
If your Minimum Payment is late twice within any [12] consecutive Statement Periods (the ""change event""), the Standard Rate(s) that apply to your account at that time will increase to the following new Standard Rate(s):
Purchases: 19.99%
Balance transfers and access cheques: 21.99%
Cash advances: 24.99%

The new Standard Rate(s) will apply on the first day of the second Statement Period following the change event.
If you then pay each Minimum Payment on time for [12] consecutive Statement Periods (""cure period""), the new Standard Rate(s) will decrease to the Standard Rate(s) that applied on your account at the time of the change event. Such rates will apply on the first day of the first Statement Period that occurs after the cure period.
✪ Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 3.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group).
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank.

Why we like it

Transferring a balance from a high rate card to a low rate card can save hundreds (or thousands) of dollars in interest payments. And you can’t beat a 0% interest rate. That’s why our top pick for best balance transfer card goes to the MBNA True Line® Mastercard®. This card works well if you are serious about paying down debt. However, if you are simply looking to make minimum payments on your transferred balance there may be better options. The go-to interest rate is pretty good compared with other cards, but you will want to pay down as much as possible within the intro period for the best results.

Best Airline Rewards Card

Alaska Airlines Platinum Plus® Mastercard® credit card

Alaska Airlines MasterCard
Card Details

Main Feature

A new Alaska Airlines Platinum Plus® Mastercard® credit card could take you places. If approved, you could receive new benefits and start earning more Mileage Plan™ miles.

Annual Fee

$75

Interest Rates

Purchase APR: 19.99%

Balance Transfer APR: 22.99%

Cash Advance APR: 22.99%

†† To qualify for this offer, an applicant must be approved for a Platinum card and a single or combination of purchase transactions totaling at least one thousand Canadian dollars (CAD 1,000) must be made using such account within the first 90 days of account opening that are not subsequently rescinded, the subject of a charge back request or otherwise disputed. Please allow 8-10 weeks from the transaction date for bonus Miles to be posted to your Mileage Plan account. Account must be open and active on posting/delivery date to qualify for bonus Miles. Limit one-time bonus Miles offer (no cash value) per new account. Reissues, fraud, lost/stolen and reopened accounts do not qualify for this offer. This promotion is offered by MBNA and may be amended or cancelled at any time without notice. Additional bonus Miles may be awarded if a completed application is submitted to an Alaska Airlines employee.

‡ These are highlights of the credit card rewards program (the “Program”) associated with this credit card account. Miles will be awarded on eligible transactions charged to your account as set out in the Program terms and conditions. Complete terms and conditions describing Program eligibility, accrual and redemption of Miles, and other important conditions, limitations and restrictions will be sent after your account is opened. Please read the terms and conditions carefully upon receipt. Accumulated Miles can only be redeemed in accordance with the Alaska Airlines Mileage Plan program (the “Alaska Program”). The Toronto-Dominion Bank has no liability or responsibility for any aspect of the Alaska Program. Please visit www.alaskaair.com for complete Alaska Program terms and conditions.

◊◊ Companion Certificates can only be used for a coach class seat on an Alaska Airlines operated flight with the purchase of another ticket on the same Alaska Airlines flight within or between the continental United States, Alaska, Canada, Hawaii or Mexico. To obtain the Companion Certificate in the first year of the account, the credit card application must be approved and a single or combination of purchase transactions totaling at least one thousand Canadian dollars (CAD 1,000) must be made using such account within the first 90 days of account opening that are not subsequently rescinded, the subject of a charge back request or otherwise disputed. Please allow 8-10 weeks from the transaction date for the Companion Certificate to be delivered. To qualify for the Companion Certificate in the second and subsequent years of the account, the account must be open and active on the account anniversary. Reissues, fraud, lost/stolen and reopened accounts do not qualify for this offer. This promotion is offered exclusively by Alaska Airlines. The Toronto-Dominion Bank is not responsible or liable for any aspect of this promotion. For a complete explanation of this benefit, please visit www.alaskaair.com.

✪ Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 1.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group).

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the "Apply Now" button.

Why we like it

With a juicy sign-up bonus and discount companion fare, the Alaska Airlines MasterCard takes the top spot for best Airline Rewards card. You’ll earn 20,000 bonus miles just for just for using your card on an eligible purchase (after spending $1,000 on the card within 90 days), which is enough points for a round trip flight within the continental US and Canada. Reach over 900+ destinations worldwide on Alaska Airlines or 14 other airline partners including Delta, American Airlines, Qantas, Emirates, Air France and British Airways. Miles never expire making it a great choice for the frequent traveler or those looking to sock away miles for a family vacation.

Runner Up: Scotiabank Gold American Express Card

Best Premium Cash Back Card

SimplyCashTM Preferred Credit Card from American Express

Simplycash Preferred Card
Card Details

Main Feature

New SimplyCashTM Preferred Card from American Express Cardmembers can earn 5% cash back on all eligible purchases (up to $300 cash back) for the first 6 months of Cardmembership

Annual Fee

$99

Additional Cardholders: $0

Interest Rates

Purchase APR: 19.99%

Balance Transfer APR: 1.99% in the first 6 months

Cash Advance APR: 22.99%

Why we like it

Cash back is great. What’s even better? Not having to deal with special categories to earn the full cash back rate. That’s where the SimplyCash Preferred Card from American Express really shines. You’ll get 2% cash back on all your purchases without having to jump through hoops. Be sure to take advantage of the introductory rate of 5% on purchases for the first 6 months of Cardmembership (up to $300 cash back.) The annual fee is competitive with other premium cash back cards, but make sure the cash back you earn outweighs the costs based on your spending habits. Other factors to consider: American Express offers some of the best customer service in the industry. Plus, it’s easier than ever to manage your account with the Amex App.

Best Cash Back Card

Tangerine Money-Back Credit Card 

Card Details

Main Feature

Apply for the Tangerine Money-Back Credit Card by October 31, 2019 and earn 4% Money-Back Rewards in up to 3 chosen categories* for your first 3 months, instead of the usual 2%.

Annual Fee

$0

Interest Rates

Purchase APR: 19.95%

Balance Transfer APR: 1.95% for 6 statement periods

Cash Advance APR: 19.95%

Why we like it

If you believe “cash is king”, the best choice is obvious – a cash rewards credit card. Our top pick for best cash back card goes to the Tangerine Money-Back Credit Card. This unique card allows you to earn 2% cash back in two categories of your choosing, and 0.5% everywhere else. Since everyone has different spending habits, this feature allows you to customize your rewards program and ultimately earn more cash back than competing cards. With no annual fee, this card can add to your bottom line – when paid off every month. If you’re looking for a great cash back rewards card, add the Tangerine Money-Back Card to your wallet.

Runner Up: Scotia Momentum® VISA* Infinite Card

Best Travel Rewards Card

Scotiabank®* Gold American Express® Card

Card Details

Main Feature

Earn up to $300 in bonus reward points ◊

Annual Fee

$120

Additional Cardholders: $29

Interest Rates

Purchase APR: 19.99%

Balance Transfer APR: 22.99%

Cash Advance APR: 22.99%

◊ For a limited time, open a new Scotiabank Gold American Express credit card account (the “Account”) and earn a one-time 25,000 Scotia Rewards point bonus with your first $1,000 in eligible everyday purchases made within the first 3 months from the Account open date. Plus, earn an additional one-time 5,000 Scotia Rewards point bonus when you spend at least $10,000 in eligible everyday purchases in your first year (12-months). Each bonus offer is referred to as a “Bonus Offer” or collectively the “Bonus Offers”. Bonus Offers apply to new Accounts opened by December 30, 2019.

Bonus Offer Eligibility and Exclusions:
The following individuals are not eligible for the Bonus Offers:
• Current primary or secondary cardholders of a Scotiabank retail credit card, including those that switch from an existing Scotiabank retail credit card
• Previous primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years
• Employees of Scotiabank

Subject to the above exclusions, Scotiabank small business credit card holders are eligible for the Bonus Offers.

Bonus Offers may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise permitted.

Bonus Offer Conditions:
To be eligible for the 25,000 bonus Scotia Rewards points Bonus Offer you must:
• Have at least $1,000 in eligible purchases posted to your new Account in the first 3 months from the Account open date.
• Bonus Scotia Rewards points will be credited to the primary cardholder’s Scotia Rewards account within 5 to 10 business days after the first 3 months has passed, provided the Account is open and in good standing at time of payout.

To be eligible for the 5,000 bonus Scotia Rewards points Bonus Offer you must:
• Have at least $10,000 in eligible purchases in your first year (12-months) on the Account (annual period starts from the Account open date).
• Bonus Scotia Rewards points will be credited to the primary cardholder’s Scotia Rewards account within two statement cycles after meeting the $10,000 annual spend on the Account, provided the Account is open and in good standing at the time of payout.

“Eligible purchases” include purchases (less any refunds, returns or other similar credits) and do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.

The Account is considered in good standing if it is not delinquent (past due) or over limit and the cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.

Why we like it

This card has it all: bonus points for signing up, increased rewards in select categories, and extraordinary travel benefits. We think this card works best for the frequent traveler or business professional making the most of an expense budget. The complimentary concierge services are a nice benefit at this price point ($99 annual fee). You also get access to Priority Pass Lounges worldwide. While the American Express brand might not have the same merchant acceptance as other issuers, this shouldn’t be a problem for most people. You will need to have good to excellent credit to be approved for this card.

Best Premium Rewards Card

Scotia Momentum® VISA Infinite* Card

Scotia Momentum VISA Infinite Card
Card Details

Main Feature

First year annual fee waived1

Annual Fee

First year free, then $120

Additional Cardholders: $50 each Supplementary Card

Interest Rates

Purchase APR: 20.99%

Balance Transfer APR: 22.99%

Cash Advance APR: 22.99%

1 Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the first year annual fee waiver offer (the “Offer”). Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.

Offer Description and Conditions: We will waive the initial annual fee for the primary card and each additional supplementary card for the first year. Offer applies to new Scotiabank credit card accounts (“Accounts”) only that are opened by December 30, 2019. Any additional supplementary cards must be issued by December 30, 2019 to qualify.

Rates and Fees: The current annual fee is $120 for the primary card and $50 for each additional supplementary card. The current preferred annual interest rates for the Account are: 20.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended and cannot be combined with any other offers.

Why we like it

Visa Infinite cardholders expect – and receive – VIP treatment. With the Scotia Momentum® card you’ll get complimentary 24/7 concierge for any request, big or small. With exclusive entertainment access you can take advantage of advance ticket purchases, and exclusive VIP and backstage access to some of the biggest shows. Through the Visa Infinite Dining Series you have access to exclusive culinary experiences and private wine tastings. For the world traveler, the Visa Infinite Luxury Hotel Collection gives you access to over 900 luxury hotels around the world with automatic room upgrades and more. This card isn’t for everyone, but its premium benefits are perfect for the “VIP”.

Runner Up: CIBC Aerogold® Visa Infinite* Card