The strongest all-around cash-back Mastercard in Canada by blended rate. The fee pays for itself quickly for grocery-heavy households.
Ranking basis: $1,505 modelled value over 24 months
Best for: Households with heavy grocery and recurring-bill spend who want the strongest blended cash-back rate available on a Mastercard.
Skip if: Your grocery spend doesn't get near $500 a month; the 5% stops there, and the no-fee CashBack Mastercard captures most of the value for free.
$139 annual fee · Modelled first year ≈ $1,062 · Cash back · See offer
A niche card that's excellent inside its niche: Porter loyalists with real spend get a companion pass and strong earn; everyone else should pass.
Ranking basis: $1,449 modelled value over 24 months
Best for: Porter regulars on the Eastern corridor who can hit the companion-pass spend tier.
Skip if: Porter isn't your airline; the points are worthless anywhere else.
$199 annual fee · Modelled first year ≈ $874 · VIPorter · See offer
One of Canada's best airline keeper cards if (and only if) WestJet is your carrier. The companion voucher is the whole business case.
Ranking basis: $1,344 modelled value over 24 months
Best for: WestJet households: the companion voucher plus free bags can be worth several hundred dollars a year.
Skip if: You fly Air Canada or internationally; WestJet points don't travel.
$139 annual fee · Modelled first year ≈ $922 · WestJet points · See offer
A capable, broad-earning World Elite card that rewards everyday spend well. The points currency is the limiting factor, not the earn rate.
Ranking basis: $1,310 modelled value over 24 months
Best for: National Bank clients who want broad 5x categories, and, if they fly internationally out of Montréal, genuinely useful lounge access.
Skip if: You want transferable points; Amex MR or Aeroplan cards offer more redemption upside for a similar fee.
$150 annual fee · Modelled first year ≈ $655 · National Bank Rewards · See offer
A quietly strong everyday earner with the market's broadest 5x list. The birthday bonus rewards loyalty in a way few cards do.
Ranking basis: $1,256 modelled value over 24 months
Best for: High utility/subscription spenders: the 5x category list covers bills most cards ignore.
Skip if: You want a premium program or big welcome bonus; this card wins on earn, not on splash.
$120 annual fee · Modelled first year ≈ $753 · MBNA Rewards · See offer
A strong 5x travel multiplier and a useful perk bundle, wrapped around a below-average points currency. Buy it for the multipliers and perks, not the points.
Ranking basis: $1,232 modelled value over 24 months
Best for: Travellers who put real spend on travel and will use the lounge passes and NEXUS credit, over point-value optimization.
Skip if: You compare points per dollar in real cents; BMO Rewards' low point value undercuts the big multipliers.
$150 annual fee · Modelled first year ≈ $842 · BMO Rewards · See offer
A large welcome bonus attached to a young program. Promising on paper, but treat the redemption value as unproven until Blue Rewards has a track record.
Ranking basis: $1,030 modelled value over 24 months
Best for: Shoppers at Blue Rewards partner merchants who want a large points bonus and don't mind an unproven, brand-new loyalty program.
Skip if: You want a mature, well-understood points program; Aeroplan or Amex MR cards have a longer redemption track record.
$150 annual fee · Modelled first year ≈ $691 · BMO Blue Rewards · See offer
A capable low-fee card for existing National Bank clients. Cancel the bundled insurance once the bonus posts to keep it cheap.
Ranking basis: $1,000 modelled value over 24 months
Best for: National Bank clients who want a low-fee rewards card with a real grocery/dining bonus rate.
Skip if: You want transferable points; Amex Cobalt or other MR cards earn more per dollar with airline upside.
$70 annual fee · Modelled first year ≈ $710 · National Bank Rewards · See offer
Desjardins' strongest everyday earner: 4% on groceries and 3% on restaurants for $100 a year, paid in cash rather than BONUSDOLLARS. The caps are high enough for most households; the catches are the income bar and travel insurance that stops at 3 days.
Ranking basis: $994 modelled value over 24 months
Best for: Households with a big grocery bill that clear $80,000 personal or $150,000 household income and want plain cash back.
Skip if: You don't clear the income bar, or you take trips longer than 3 days: the Odyssey World Elite includes travel insurance for trips of up to 60 days (depending on your age) and Montréal-Trudeau lounge passes, for $30 more.
$100 annual fee · Modelled first year ≈ $497 · Cash back · See offer
Canada's route to earning Asia Miles directly, with strong insurance for the fee. The DragonPass membership adds no free lounge visits, so value it for the miles.
Ranking basis: $975 modelled value over 24 months
Best for: Cathay Pacific flyers who want to earn Asia Miles directly and value strong travel insurance.
Skip if: You don't fly Cathay or its partners, or you live in Quebec (the card isn't offered there).
$180 annual fee · Modelled first year ≈ $750 · Asia Miles · See offer
A fee-based upgrade over PC's free World Elite card: 4% on Loblaw groceries and 5% at Shoppers against 3% and 4.5%, plus a PC Express Pass. Worth it for heavy Loblaw-banner households; otherwise the free card nets more.
Ranking basis: $942 modelled value over 24 months
Best for: Heavy Loblaw-banner households who use PC Express grocery delivery/pickup often enough to offset the fee.
Skip if: You don't use PC Express delivery; the no-fee PC World Elite Mastercard likely nets more value.
$120 annual fee · Modelled first year ≈ $556 · PC Optimum · See offer
A genuinely distinct airline card for United loyalists, with useful flight benefits at an $89 fee. Everyday earning is too weak for it to be a broad-market primary card.
Ranking basis: $939 modelled value over 24 months
Best for: Canadian United flyers who will use a checked bag, priority boarding, and discounted MileagePlus award pricing.
Skip if: You rarely fly United-operated routes or want strong everyday earn; the base rate is only 0.75 mile per dollar.
$89 annual fee · Modelled first year ≈ $582 · United MileagePlus · See offer
An excellent free card for the right household, and an unremarkable 1% card for everyone else. Know your banners before applying.
Ranking basis: $888 modelled value over 24 months
Best for: Loblaws/Shoppers/No Frills shoppers who want a free World Elite card layered onto grocery spend they're already doing.
Skip if: You don't shop Loblaw banners; the earn rate collapses to 1% elsewhere.
No annual fee · Modelled first year ≈ $469 · PC Optimum · See offer
RBC's October rework turned a flat 1.5% card into one of the stronger category cash-back cards: 3% across most everyday spending, uncapped, with travel medical and mobile device cover added. The $120 fee is fair for that. Just don't buy it for the DragonPass, which includes no free visits.
Ranking basis: $876 modelled value over 24 months
Best for: Higher-income households whose spending runs through groceries, dining, gas, transit and streaming, and who want uncapped cash back with real travel insurance.
Skip if: You do most of your grocery shopping at Costco or Walmart (1% there), or you don't meet the $80,000 personal / $150,000 household income requirement.
$120 annual fee · Modelled first year ≈ $438 · Cash back · See offer
A genuinely strong no-fee card for Canadian Tire loyalists: 4% at Triangle banners and 3% on groceries rival paid cash-back cards, but the income requirement and CT Money's redemption ceiling keep it a specialist's pick rather than an everyday-carry default.
Ranking basis: $838 modelled value over 24 months
Best for: Canadian Tire, Sport Chek, and Mark's shoppers with real grocery spend who clear the income threshold and want a free World Elite card.
Skip if: You don't shop Triangle-family banners regularly, or you don't clear the $80K/$150K income bar; the fee-free base Triangle Mastercard earns the same rates without the income gate.
No annual fee · Modelled first year ≈ $419 · CT Money · See offer
A reasonably priced World Elite card for Desjardins members based in or flying through Quebec. The points ceiling and single-airport lounge limit its appeal outside that footprint.
Ranking basis: $820 modelled value over 24 months
Best for: Desjardins members who fly through Montreal-Trudeau and want World Elite travel insurance at a modest fee.
Skip if: You're not a Desjardins member, or you don't transit YUL; the lounge access has no value elsewhere.
$130 annual fee · Modelled first year ≈ $410 · Desjardins BONUSDOLLARS · See offer
The benchmark no-fee card for the Rogers ecosystem: 2% everywhere free if you have a Rogers/Fido/Shaw/Comwave service, 1.5% if you don't. The 3% USD rate is unconditional and quietly excellent.
Ranking basis: $810 modelled value over 24 months
Best for: Rogers, Fido, Shaw, or Comwave customers wanting the strongest free flat-rate card, and anyone with heavy US-dollar spend.
Skip if: You have no Rogers-family service and won't add one. At 1.5% flat, other no-fee cards compete.
No annual fee · Modelled first year ≈ $405 · Cash back · See offer
A notable first for Tangerine: its first paid card, and the first non-Scotiabank-branded way into Scene+. Solid if lounge access and Scene+ redemptions matter to you; the no-fee Money-Back Card still wins on pure simplicity.
Ranking basis: $800 modelled value over 24 months
Best for: Tangerine banking clients who want Scene+ points and lounge access without opening an account at Scotiabank directly.
Skip if: You're loyal to Tangerine specifically for its no-fee lineup; the Money-Back Card remains the free option.
$120 annual fee · Modelled first year ≈ $650 · Scene+ · See offer
Substantially reworked in Neo's June 2026 relaunch: a higher fee, one of three reward plans earning elevated rates at a time (switchable in-app once every 90 days), and a DragonPass membership that discounts lounge entry rather than including it.
Ranking basis: $782 modelled value over 24 months
Best for: Digitally-native spenders who clear the $80K/$150K income bar and will actually re-pick their reward plan as their spending shifts.
Skip if: You don't clear the income requirement, or you want simple flat-rate rewards without picking a plan; the no-fee Neo World Mastercard is the better fit.
$149 annual fee · Modelled first year ≈ $391 · Cash back · See offer
The default card for Costco members in Canada: free, simple, and well-matched to gas and restaurant spend, with no cap on what it pays out. There's no welcome offer right now, so its case rests on ongoing earn, and warehouse purchases themselves earn only the base 1%.
Ranking basis: $770 modelled value over 24 months
Best for: Costco members who fill up at Costco gas stations and want a free card that pairs naturally with warehouse shopping.
Skip if: You're not a Costco member, or your spend is mostly outside Costco categories; a flat cash-back card earns more elsewhere.
No annual fee · Modelled first year ≈ $385 · Cash back · See offer
A solid free grocery card for households just below the World Elite income bar. If you qualify for the World Elite, take that instead: same fee, higher rates, more insurance.
Ranking basis: $716 modelled value over 24 months
Best for: Loblaw-banner and Shoppers households that clear $50,000 personal or $80,000 household income, but not the World Elite's bar.
Skip if: You clear the World Elite's income bar (it earns more for the same $0 fee), or you rarely shop Loblaw banners.
No annual fee · Modelled first year ≈ $383 · PC Optimum · See offer
A capable no-fee everyday earner with an unusually broad 2x list and a birthday bonus. Redeem for travel to get the most from the points.
Ranking basis: $698 modelled value over 24 months
Best for: Anyone who wants a no-fee points card with broad 2x categories and doesn't mind ~0.5¢ cash redemptions.
Skip if: You want higher redemption value or uncapped categories; a flat cash-back card may net more.
No annual fee · Modelled first year ≈ $374 · MBNA Rewards · See offer
A capable free card following Neo's June 2026 relaunch. Only one reward plan earns elevated rates at a time and you can switch once every 90 days, so it pays to keep it pointed at your everyday spend.
Ranking basis: $602 modelled value over 24 months
Best for: Digitally-native spenders who want a free cash-back card and will keep their reward plan pointed at where they actually spend.
Skip if: You want simple flat-rate cash back without revisiting a plan every quarter; a flat 2% card is less effort for a similar return.
No annual fee · Modelled first year ≈ $301 · Cash back · See offer
A fine low-fee cash-back card, but the $30 fee is hard to justify against free alternatives earning similar rates.
Ranking basis: $590 modelled value over 24 months
Best for: National Bank clients who want simple, broad cash-back categories without tracking a complex rewards program.
Skip if: You want a genuinely free card; mycredit Mastercard or Tangerine Money-Back earn similar rates with no fee.
$30 annual fee · Modelled first year ≈ $295 · Cash back · See offer
A capable student cash-back card, not just a credit-builder: 3% on groceries (to a monthly cap) and no annual fee put it among the better no-fee student options. The 0.5% base rate on everything else is the catch.
Ranking basis: $570 modelled value over 24 months
Best for: Students who want real cash back while building credit; the 3% grocery rate is one of the better no-fee student earns.
Skip if: You're not a student, or you have the credit and income to qualify for a full cash-back card that earns more than 0.5% outside groceries.
No annual fee · Modelled first year ≈ $285 · Cash back · See offer
A solid no-fee grocery earner up to $500 a month. Straightforward and fee-free, with an upgrade path once spend outgrows the cap.
Ranking basis: $570 modelled value over 24 months
Best for: Free-card shoppers whose grocery bill is the biggest line item in the budget.
Skip if: Your grocery bill runs well past $500 a month; past the cap it earns 0.5%, and the World Elite version's 5% grocery and 1% base rates pay for its fee.
No annual fee · Modelled first year ≈ $285 · Cash back · See offer
A reasonable no-fee grocery card now that the $6,000 cap is gone, but the 0.5% base rate means it only pays off for households whose spending leans on groceries and commuting.
Ranking basis: $554 modelled value over 24 months
Best for: No-fee shoppers who buy groceries at supermarkets rather than Costco or Walmart and want simple, uncapped cash back.
Skip if: Most of your spending falls outside groceries, gas and transit, where this card pays only 0.5%; a flat-rate no-fee card earns more.
No annual fee · Modelled first year ≈ $277 · Cash back · See offer
The no-income-requirement way into PC Optimum on a credit card. It's effectively a 1% card with a Shoppers bonus, so treat it as a starting point: PC Financial's other free cards earn more once you qualify.
Ranking basis: $542 modelled value over 24 months
Best for: PC Optimum members who don't meet the World card's $50,000 personal or $80,000 household income bar.
Skip if: You qualify for the PC World or World Elite Mastercard; both are also free and earn more at Loblaw banners and Shoppers.
No annual fee · Modelled first year ≈ $296 · PC Optimum · See offer
A well-targeted no-fee co-brand for Amazon-heavy households, especially Prime members, thanks to the FX cash-back offset most no-fee cards don't offer.
Ranking basis: $540 modelled value over 24 months
Best for: Amazon Prime households who want a free card that earns real cash back on Amazon.ca and Whole Foods spend, with a partial FX-fee offset.
Skip if: You're not a Prime member; the non-Prime 1.5% rate is good but not exceptional, and other free cards earn more broadly.
No annual fee · Modelled first year ≈ $270 · Cash back · See offer
The replacement for the closed Rogers Platinum: free, no income requirement, and a genuine 2% for Rogers-family customers. Outside the ecosystem it's an ordinary 1% card with no insurance.
Ranking basis: $540 modelled value over 24 months
Best for: Rogers, Fido, or Shaw customers who don't clear the World Elite's income bar but want the same 2% ecosystem rate.
Skip if: You have no Rogers service (1% is beatable for free) or you want basic purchase coverage included.
No annual fee · Modelled first year ≈ $270 · Cash back · See offer
The Red Mastercard with a higher cap and basic purchase cover, for a modest income bar. Inside the Rogers ecosystem it's a solid free 2% card up to $26,000 a year; outside it, it's an ordinary 1% card.
Ranking basis: $540 modelled value over 24 months
Best for: Rogers, Fido, Shaw or Comwave customers who clear $50,000 personal or $80,000 household income but not the World Elite's bar.
Skip if: You clear the World Elite's income bar (same $0 fee, 1.5% floor, 3% on U.S. dollars), or you have no Rogers-family service.
No annual fee · Modelled first year ≈ $270 · Cash back · See offer
A no-fee card that pays a solid 3% at Walmart. Worth it only if you shop there regularly, since rewards can't be spent anywhere else.
Ranking basis: $540 modelled value over 24 months
Best for: Regular Walmart shoppers who want 3% back on Walmart spend with no annual fee.
Skip if: You don't shop at Walmart often; the rewards are locked to Walmart and only 1% elsewhere.
No annual fee · Modelled first year ≈ $270 · Walmart Reward Dollars · See offer
The same 3%/1% Walmart earn as the base card, with added purchase insurance and Delivery Pass months. The income hurdle buys perks, not a better rate.
Ranking basis: $540 modelled value over 24 months
Best for: Frequent Walmart shoppers who qualify for the World tier and want purchase insurance plus more free Delivery Pass months.
Skip if: You want rewards you can spend anywhere, or the base Walmart card's identical 3%/1% earn is enough.
No annual fee · Modelled first year ≈ $270 · Walmart Reward Dollars · See offer
A no-fee card whose 5%-for-6-months gas/grocery intro is its main draw. The $500 cap and 0.5% base limit its long-term value.
Ranking basis: $450 modelled value over 24 months
Best for: Households with steady gas and grocery spend who want a no-fee card and a strong 6-month intro rate.
Skip if: You spend more than $500/month on gas and groceries, or you want a strong base rate on other purchases.
No annual fee · Modelled first year ≈ $225 · Cash back · See offer
The accessible on-ramp to Triangle Rewards. Upgrade to the World Elite tier the moment your income qualifies: same fee, better grocery rate.
Ranking basis: $420 modelled value over 24 months
Best for: Canadian Tire, Sport Chek, and Mark's shoppers who don't clear the World Elite tier's income requirement.
Skip if: You clear the $80K/$150K income bar; the World Elite version earns double on groceries for the same $0 fee.
No annual fee · Modelled first year ≈ $210 · CT Money · See offer
An unremarkable but genuinely free card. Its low intro interest rate is the real draw, not the cash-back rate.
Ranking basis: $380 modelled value over 24 months
Best for: Scotiabank clients who want a simple free cash-back card and may carry an introductory-rate balance.
Skip if: You want the best possible free cash-back rate; Tangerine, BMO CashBack, or CIBC Dividend all out-earn this card in their bonus categories.
No annual fee · Modelled first year ≈ $190 · Cash back · See offer
The Cash Back Visa on the Mastercard network, with the same rates, caps and insurance. Pick it over the Visa only if you need a Mastercard, and don't get it for Costco: warehouse purchases earn the 0.5% base rate.
Ranking basis: $370 modelled value over 24 months
Best for: Anyone who wants the Cash Back Visa's rates and insurance on a Mastercard instead of a Visa.
Skip if: Groceries or general spending make up most of your budget: at 0.5% outside the bonus categories, a free flat-rate card earns more.
No annual fee · Modelled first year ≈ $185 · Cash back · See offer
A capable niche card: the reduced FX fee and deep insurance stack are real, but the flat 1% earn and $89 fee make it a specialist pick rather than a default recommendation.
Ranking basis: $362 modelled value over 24 months
Best for: Frequent US/international spenders who want a reduced (not zero) FX fee plus a broad insurance package on an independent fintech Mastercard.
Skip if: You want a true no-FX card; Scotiabank Passport or Home Trust charge nothing at all, beating Brim's reduced 1.5%.
$89 annual fee · Modelled first year ≈ $181 · Brim Rewards · See offer
A plain, dependable free card whose Costco acceptance is its one real edge over other no-fee options.
Ranking basis: $304 modelled value over 24 months
Best for: National Bank clients who want a genuinely free card for restaurants and recurring bills that's also accepted at Costco.
Skip if: You want a strong general-spend rate; most purchases on this card earn only 0.5%.
No annual fee · Modelled first year ≈ $152 · Cash back · See offer
The most flexible free cash-back card in Canada: you build your own earn categories. Modest ongoing value, but there's no fee to justify.
Ranking basis: $270 modelled value over 24 months
Best for: No-fee shoppers who want to pick their own 2% categories and never think about a renewal fee.
Skip if: Your spend doesn't concentrate in 2-3 categories; a flat-rate card like the Rogers Red World Elite beats it on unchosen spend.
No annual fee · Modelled first year ≈ $135 · Cash back · See offer
A cause-driven niche card. The rewards are secondary to its charitable angle.
Ranking basis: $270 modelled value over 24 months
Best for: Cardholders who want a no-fee card tied to a charitable cause and don't prioritize maximizing cash back.
Skip if: You're optimizing purely for rewards value; nearly every other no-fee card on this list earns more.
No annual fee · Modelled first year ≈ $135 · National Bank Rewards · See offer
The rewards outlier of the secured segment: real cash back and a $50 entry point, gated by a monthly membership fee that decides whether the math works. Free-fee qualifiers get the segment's best card; everyone else should price it honestly.
Ranking basis: $222 modelled value over 24 months
Best for: Rebuilders with small deposits who want some reward while they build, and who qualify to get the membership fee waived.
Skip if: You'd pay the monthly membership in full: $119.88/year erases the cash back at typical rebuilder spend.
No annual fee · Modelled first year ≈ $111 · Cash back · See offer
The benchmark low-interest card: $0 fee, a fixed 12.99%, and a usable balance-transfer window. If interest cost is the problem, this is the standard answer.
Ranking basis: $0 modelled value over 24 months
Best for: Anyone carrying a balance who wants a fixed low rate at zero fee. It's the consensus default low-interest card in Canada.
Skip if: You pay in full monthly (get a rewards card) or you live in Quebec (MBNA won't issue it).
No annual fee · Modelled first year ≈ $0 · None (no rewards) · See offer
The published-rules play. Capital One states its approval conditions up front rather than leaving them to a judgment call, the card reports like any Mastercard, and it even includes purchase coverage, but its interest rate makes it a pay-in-full-only tool.
Ranking basis: $0 modelled value over 24 months
Best for: Anyone who wants the approval rules published up front: the only major card in Canada that states its secured-card approval conditions in advance.
Skip if: You might carry a balance; the 29.9% rate makes Home Trust's $59/14.90% variant far cheaper.
No annual fee · Modelled first year ≈ $0 · None (no rewards) · See offer
A bare-bones card with no upside over National Bank's other no-fee options. Only worth it if it's genuinely your only approval option.
Ranking basis: $0 modelled value over 24 months
Best for: Applicants who want the simplest possible National Bank card, e.g. for credit-building purposes.
Skip if: You qualify for the mycredit Mastercard or Platinum Mastercard; both earn rewards at the same or a low fee.
No annual fee · Modelled first year ≈ $0 · None (no rewards) · See offer
Less a low-rate card than a debt-paydown instrument. Move the balance, set an 18-month payment plan, and the 3% transfer fee is the only interest you'll effectively pay.
Ranking basis: -$29 modelled value over 24 months
Best for: Anyone with existing card debt to attack: 18 months at 0% is the longest interest-free runway currently offered in Canada.
Skip if: You have no balance to transfer; the ongoing rate is beaten by both MBNA cards and the Flexi.
$29 annual fee · Modelled first year ≈ $0 · None (no rewards) · See offer
A low-rate specialist, not a rewards card. Only worth it if you genuinely expect to carry a balance.
Ranking basis: -$35 modelled value over 24 months
Best for: Anyone who occasionally carries a balance and wants to minimize interest cost rather than maximize rewards.
Skip if: You pay your balance in full every month; a rewards card earns more with zero downside.
$35 annual fee · Modelled first year ≈ $0 · None (no rewards) · See offer
The lowest fixed rate you can simply apply for in Canada. Worth $39 exactly when the balance is big enough: do that one division before choosing it over its free sibling.
Ranking basis: -$78 modelled value over 24 months
Best for: Someone who carries a meaningful balance most months; the 2% rate saving over the no-fee True Line out-earns the $39 fee past roughly $2,000 of average balance.
Skip if: Your carried balance is small or occasional; the no-fee True Line covers that case without the fee.
$39 annual fee · Modelled first year ≈ -$39 · None (no rewards) · See offer
Canada's first World Legend Mastercard is a Rogers loyalty product wearing a premium card's fee. Inside the ecosystem the credits and passes can justify it; outside, the math isn't close.
Ranking basis: -$180 modelled value over 24 months
Best for: Committed Rogers-ecosystem households that would spend the $200 TV credit anyway, use the lounge passes, and travel enough for no-FX to matter.
Skip if: You don't have (or want) Rogers services; at 1.5% with a $495 fee, nearly every premium card we score beats it.
$495 annual fee · Modelled first year ≈ -$90 · Cash back · See offer
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
Benchmark monthly spend: $722 groceries, $279 dining, $250 travel, $200 gas/transit and $800 other. Values use expected informed point valuations, structured caps, modelled welcome conditions and two annual fees where applicable; unstructured perks and benefits are excluded. Use the Card Finder for your own spending.