Best Rewards Credit Cards Canada 2025

Best Rewards Credit Cards Canada 2025 — By Category

Every spending type has an optimal card. Here's the best in each major category.

Best Overall

Amex Cobalt

$155.88/yr | MR Points

5× Food & Drinks3× Streaming2× Travel/Gas

The single best rewards card in Canada for most people. 5× on dining, restaurants, and food delivery plus MR → Aeroplan transfer at 1:1. Exceptional earn rate offsets the monthly fee.

Best Cash Back

CIBC Dividend Visa Infinite

$120/yr

4% Groceries4% Gas1% Other

Best for Canadians who prefer cash back over points. 4% at grocery stores and gas stations with no caps makes it the most straightforward high-value cash back card in Canada.

Best for Air Canada

TD Aeroplan Visa Infinite

$139/yr | Aeroplan

1.5× Groceries/GasFree Checked Bag

Direct Aeroplan accumulation, priority boarding, and free checked bag on Air Canada. Best for frequent Air Canada flyers who can leverage the co-branded perks.

Most Flexible Points

RBC Avion Visa Infinite

$120/yr | Avion

1.25× All PurchasesTransfer to BA Avios

Avion points transfer to British Airways Avios, American Airlines, and Cathay Pacific — offering premium cabin redemption potential that domestic programs can't match.

Best No-Fee

Tangerine Money-Back

No Annual Fee

2% (Choose 3 categories)0.5% Other

Zero cost, maximum flexibility. Choose grocery, gas, restaurants, entertainment, or other categories for 2% cash back. Monthly payout. The benchmark for no-fee rewards cards in Canada.

Best Alt. to Credit Cards

KOHO Prepaid Mastercard

No Annual Fee | $100 Bonus

$100 Sign-up Bonus3% on SavingsCashback

Not a credit card — but KOHO's $100 bonus (code 45ET55JSYA), 3% savings interest, and 1–5% cashback make it a compelling rewards product with no debt risk and CDIC deposit protection.

How to Choose the Best Rewards Card for You

The "best" rewards card depends entirely on your spending patterns. Key questions to ask: Do you spend heavily on groceries? Gas? Dining? Travel? Are you an Air Canada loyalist or do you prefer flexibility? Do you carry a balance (if yes, avoid all rewards cards and focus on low-interest options first)?

For most Canadians: start with one strong rewards card (Amex Cobalt or CIBC Dividend) + one no-fee card for backup (Tangerine) + KOHO for savings. This three-product stack covers nearly every scenario without excessive complexity.

Frequently Asked Questions

What's the highest earning rewards credit card in Canada?

The Amex Cobalt earns 5× Membership Rewards points on food and drinks — the highest category earn rate of any major Canadian rewards card. On $2,000/month in food spending (including groceries, restaurants, delivery), you'd earn 10,000 MR points per month = 120,000 annually, worth approximately $1,800–$3,600 in Aeroplan redemptions. No other Canadian card matches this earn rate for such a broad everyday category.

Are rewards credit cards worth it in Canada?

Yes — if you pay your balance in full every month. Carrying a balance at 19.99% APR wipes out all rewards value within 2 months for most spending levels. If you're disciplined about full repayment, a good rewards card earns you effectively 1–5% back on spending you'd make anyway. The average Canadian household spending $50,000/year on credit can earn $1,000–$3,000+ annually in rewards on a well-optimized card portfolio.

Should I get multiple rewards credit cards?

A two-card strategy is often optimal: one premium card for your highest spend category (e.g., Amex Cobalt for food), and one flat-rate or no-fee card for everything else. Adding a third card for a specific benefit (e.g., Scotiabank Passport for no forex fees on international travel) is reasonable. Beyond 3 cards, the complexity of tracking rewards and managing payments starts to outweigh the marginal benefits for most people.

Which rewards program is best in Canada — Aeroplan, Scene+, Avion, or MR?

Aeroplan is the most valuable for flight redemptions, especially business class on partner airlines. MR (Amex Membership Rewards) is the most flexible — it transfers to Aeroplan AND international programs like BA Avios and Cathay Pacific. Avion is uniquely valuable for accessing Star Alliance, oneworld, and SkyTeam partners. Scene+ is best for casual redeemers who want simple, no-blackout movie/grocery/travel redemptions. For maximum value: MR points through Cobalt → Aeroplan transfers is the most powerful combination in Canada.

Do rewards credit cards affect your credit score in Canada?

The card type (rewards vs. basic) doesn't affect your credit score. What matters is: (1) always paying on time — the biggest factor in your credit score, (2) keeping credit utilization under 30% of your limit, and (3) not applying for too many cards at once (each application creates a hard inquiry). A well-managed rewards card can improve your credit score through consistent on-time payments and credit history length. KOHO (prepaid) doesn't affect credit scores but also doesn't build credit history.

Best Rewards Credit Cards Canada 2025

Prefer Guaranteed Rewards? KOHO Pays $100 + 3% Interest