The 10 Best Credit Cards in Canada for 2019

Did you know that, according to the Canadian Bankers Association, 95% of adult Canadians have at least one credit card? Those little plastic rectangles are one of the most convenient ways of paying, whether it’s for groceries, restaurant meals, plane tickets or, frankly, anything that doesn’t come free. But not all are created equal. If you’re in the market for a new one this year, you may want to consider one of the best credit cards in Canada for 2019.

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SimplyCash Card from American Express

One of the best credit cards in Canada is the SimplyCash card from American Express. The interest rates on this one are 19.99% on purchases and 22.99% on cash advances, so you’ll want to make sure you reduce your credit card debt. There’s no annual fee, not even for additional cards, and you can earn up to $150 cash back in the first three months.

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Scotia Momentum Visa Infinite

When it comes to the best credit cards, 2019 sees very similar offerings to those of 2018. Life on Credit’s choice for the best credit card in Canada in 2018 was the Scotia Momentum Visa Infinite from Scotiabank and you still can’t go wrong choosing this one for your credit needs. It’s a cash-back card with an interest rate of 19.99% on purchases and 22.99% on cash advances. The annual fee is $99 and you need to have a minimum annual income of $60,000, which shouldn’t be a problem if you have one of the highest-paying in-demand jobs in Canada.

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Tangerine Money-Back Credit Card

In terms of the best credit cards in Canada, no fee cards offer great returns without making you pay through the nose. The Tangerine Money-Back Credit Card comes without an annual fee and gives you money-back rewards every month, as you earn them. The interest rate is 19.95% but if you transfer money in the first 30 days, you’ll only pay 1.95% interest on that amount for the first six months.

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TD Cash Back Visa Infinite

For one of the best cash-back credit cards in Canada, here's a great one from TD Bank. With the TD Cash Back Visa Infinite card, you earn 3% cash back on groceries, gas and monthly bills and 1% on other purchases. For the first three months, you can earn 9% cash back. The interest rates are quite high — 20.99% on purchases and 22.99% on cash advances — and there’s an annual fee of $120. Remember that not claiming your cash-back rewards is free money you’re missing out on.

Starwood Preferred Guest Credit Card from American Express

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Starwood Preferred Guest Credit Card from American Express

If you have one of those cool jobs for people who love to travel, you probably stay in hotels a lot. For the best rewards credit card, Canada has a clear winner in the Starwood Preferred Guest Credit Card from American Express. The annual fee is $120 and the interest rates are 19.99% on purchases and 22.99% on funds advances. However, when you charge $1,500 on purchases in the first free months, you earn 50,000 bonus points, which can pay for four nights in a hotel.

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SCENE Visa Card from Scotiabank

Watching the wealthiest Canadian actors in action on the big screen is easier than ever with the SCENE Visa Card from Scotiabank. It’s one of the best rewards cards for movie lovers, since you need only 1,000 points to earn a free movie ticket. You can also get discounts on things like restaurant meals and car rentals. You earn one point for every dollar you spend on everyday purchases and five points for every dollar you spend at the movies. There’s no annual fee and the interest rates are 19.99% on purchases and 22.99% on cash advances.

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American Express Cobalt Card

The American Express Cobalt Card comes with a monthly fee of $10 and interest rates of 19.99% on purchases and 22.99% on cash advances. However, in the first six months the interest rate on purchases is only 7.99%. What makes this one of the best Canadian rewards cards is that you earn five points for every dollar you spend eating out, two points for every dollar you spend on transit and gas, and one point for every dollar you spend on everything else.

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BMO AIR MILES World Elite Mastercard

Here's another of the best travel credit cards in Canada: The Bank of Montreal’s BMO AIR MILES World Elite Mastercard. You can get as many as 3,000 bonus air miles in the first year and you earn one air mile for every $10 you spend. The annual fee is $120 but can be waived for the first year. Interest rates are 19.99% on purchases and 22.99% on cash advances. However, the card comes with a host of travel benefits, such as discounts on plane tickets, VIP lounge access at the airport and travel insurance.

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Odyssey World Elite Mastercard from Desjardins

The Odyssey World Elite Mastercard from Desjardins has an annual fee of $130 and an interest rate of 19.9%. You can earn up to 2% of your purchases in rewards points and travel benefits include discounts on car rentals and VIP lounge access at the airport. You’re protected in case of fraudulent transactions on your card. What makes this card a great option for those trips to take after you retire is that it offers up to $5 million’s worth of insurance coverage for people up to 75 years old.

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Home Trust Preferred Visa

While many cash-back credit cards have limits to the amount you can earn back, the Home Trust Preferred Visa card comes with no limits to your total rewards. You can earn 1% cash back and there are no restrictions on where you earn your rewards. It’s a no fee card with a 19.99% interest rate and no foreign transaction fees.