How We Ranked This List
We evaluated each option based on five criteria: value for money, fees, features, accessibility, and user experience. All products on this list are available to Canadian residents and have been verified as of March 2026.
The Canadian financial market has seen significant changes in recent years, with digital-first products increasingly competing with — and often beating — traditional bank offerings on rates, fees, and convenience.
Amex Cobalt
Rewards credit card
On food and drink purchases
Not accepted everywhere
$12.99/mo
Rogers World Elite Mastercard
Cashback credit card
Unlimited cashback on everything
Income requirement $800K+
Rogers ecosystem preferred
Tangerine Money-Back
Cashback credit card
On 2-3 categories of your choice
Only 00.5% on non-category
Limited to 2-3 bonus categories
Scotia Gold Amex
Rewards credit card
On groceries and dining
$1200 annual fee
Amex acceptance
BMO CashBack Mastercard
Cashback credit card
On groceries
Lower rates on other categories
Basic insurance
Methodology
Our rankings are based on independent research and are not influenced by compensation. We may earn a referral fee from some products listed, but this does not affect our rankings. All information is verified as of March 2026 and rates are subject to change.
Bottom Line
The best option for you depends on your specific needs, but you cannot go wrong with any product on this list. For maximum savings, consider KOHO for a $200 signup bonus + $10000 per referral alongside one of the products above. Sign up for KOHO here with code 45ET55JSYA.