Best Dining Out Credit Cards in Canada for 2022

American Express Cobalt® Card
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Details
Annual Fee: $155.88
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 21.99%
Min Income Requirement: Not Available
Why Apply:
  • Generous first-year rewards
  • Redeem anything you want
  • Transferability of points
  • Monthly fee
  • Free supplementary card
Recommended Credit Score:
670 900
Average to Excellent
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While geared towards young people, the American Express Cobalt® Card  has plenty features and benefits that make it appealing to a wide range of people. It offers 5x more points on eats and drinks from grocery shopping to dining out, and 2x points on travel and transit. Additionally, the ability to transfer points to hotel partners or to the Fixed Points Travel Program makes this the best travel credit card in Canada with a fee. If you spend a lot on food and travel, then this credit card deserves a place in your wallet.

  • Generous first-year rewards - You have the ability to earn up to 50,000 bonus points in the first year.
  • Redeem anything you want -Reward points can be redeemed for travel, restaurant, movies, and merchandise. Unlike other rewards card, you can use your points for almost anything you want.
  • Transferability of points -You can transfer points into the Marriott Bonvoy rewards system which unlocks access to amazing rewards programs like British Airways, Aeroplan, and more than 30 other airline partners. You can also transfer to the Hilton Honors rewards program at 1:1 ratio.
  • Monthly fee - Instead of paying for a one-time annual fee, you are charged every month, giving you time to test out the card and cancel it if it's not the right fit for your spending habits.
  • Free supplementary card - This usually costs an additional $50 on most rewards card. Get one for an immediate family member and boost your earning potential.

The American Express Cobalt® Card started out as a credit card designed for millennials and young professionals. Today, it’s one of the most flexible and versatile credit cards out there. In fact, it’s now commonly used by people from all walks of life because of the lucrative benefits. 

One reason the American Express Cobalt® Card is so popular is because of the quick rewards that come with it. Points can be earned on everyday purchases which is what makes the earnings accumulate so rapidly. On food and drinks, such as grocery, restaurant, food delivery, bar and cafe purchases, cardholders earn five points per dollar spent. 

On transit and travel, cardholders earn two points per dollar spent. These rewards are not limited to vacation only, cardholders will earn points when they spend on public transit, taxis and Ubers too. All other purchases earn one point per dollar spent. As you can see, no matter what your lifestyle is, you’ll quickly rack up points! 

Points can be redeemed to cover the cost of flights and accommodation with 1,000 points being equivalent to $10. Flights don’t have any blackout dates and you can choose any airline you’d like. In addition, the points can be used to cover fees and taxes. If you don’t have an upcoming trip, you can also spend your points on events through Ticketmaster at a rate of 2,000 points to $20. As you probably noticed, the rate of return is the same when you spend on travel and events which is fantastic! For less bang for your buck, you can also use your points for gift cards or merchandise purchases. 

Cardholders benefit from travel insurance as well. The insurance covers things like travel accidents, car rental insurance, medical emergencies, flight interruption or delay among others. Last but not least, cardholders gain access to American Express Invites which are limited offer, exclusive events. 

All of these benefits sound amazing but there’s a cost for all the wonderful benefits. There’s a monthly fee of $12.99, which works out to be $155.88 per year. The monthly payment makes it easy for most to manage. Also, you need to make between $60,000 and $80,000 per year and have decent credit. The only disadvantage is the cap rate on the bonus points is 30,000. Another downside to this bonus is the points can’t be redeemed in a lump sum. This means there is a delay between when you earn the points and when you can redeem them. 

That being said, the American Express Cobalt® Card is still an excellent option for those who travel a lot and make lots of eligible purchases.

If everything about this card sounds good to you, sign up today and receive an extra 2,500 points each month you spend $500 or more, an achievable spending rate for most! You can earn up to 30,000 Membership Rewards® points.

  Scotiabank Gold American Express® Card
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Details
Annual Fee: $129
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: Not Available
Why Apply:
  • Generous sign-up bonus
  • Flexible redemption options
  • Travel convenience
  • Additional protection
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Scotiabank's Secure Website

With a generous rewards rate of 5 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.

  • Generous sign-up bonus -The Scotiabank Gold American Express® offers a way for new cardholders to quickly stockpile points. It lets you earn up to 40,000 bonus Scotia Rewards points in your first year (that’s up to $400 towards travel) Plus, no annual fee in the first year, including on supplementary cards.  
  • Flexible redemption options - With the Scotia Rewards Program, you can book your travel with any airline or hotel through its full-service travel agency. You can use your points to cover the whole cost of the trip, including taxes and fees, or combine your points and a charge to your card. Points can also be used to book hotels and rental cars.
  • Travel convenience - Added features such as rental car discounts and hotel room upgrades are designed to make travel as convenient and comfortable as possible.
  • Additional protection - This Amex credit card provides has one of the most comprehensive travel protection benefits with insurance against flight delays and lost baggage even insurance against burglaries.

With a generous rewards rate of 5 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.Excellent credit card with 7 types of travel coverage and great reward earn rates.

  • Generous sign-up bonus -The Scotiabank Gold American Express offers a way for new cardholders to quickly stockpile points. It lets you earn 40,000 bonus points in your first year. 
  • Flexible redemption options - With the Scotia Rewards Program, you can book your travel with any airline or hotel through its full-service travel agency. You can use your points to cover the whole cost of the trip, including taxes and fees, or combine your points and a charge to your card. Points can also be used to book hotels and rental cars.
  • Travel convenience - Added features such as rental car discounts and hotel room upgrades are designed to make travel as convenient and comfortable as possible.
  • Additional protection - This Amex credit card provides has one of the most comprehensive travel protection benefits with insurance against flight delays and lost baggage even insurance against burglaries.




Scotia Momentum® Visa Infinite* Card
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Details
Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Min Income Requirement: $60000
Why Apply:
  • Welcome bonus
  • No-nonsense rewards
  • Enhanced insurance package
Recommended Credit Score:
670 900
Average to Excellent
Apply Nowlock On Scotiabank's Secure Website

For people who love to eat and drive, the Scotia Momentum VISA Infinite Card is the best rewards credit card with a fee. It provides an unrivaled 4% cash back on food and gas along with 2% on recurring payments and drugstore purchases, and 1% on the rest. On top of that, this card also comes with comprehensive insurance benefits and concierge benefits.

  • Welcome bonus:Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on supplementary cards.
  • No-nonsense rewards Rewards are clear, transparent, easy to earn and easy to redeem. Cash back rewards are paid out annually either as a deposit to eligible chequing or savings account or credited to your credit card statement.
  • Enhanced insurance package The improved insurance package is comparable with other more premium cards. It provides comprehensive coverage on travel, including rental car collision loss or damage as well as purchase security and extended warranty protection.
  • Additional Perks. Obtain exclusive offers from Scotiabank including concierge service, competitive hotel rates and upgrades, and access to dining and wine country programs.
  • Annual Fee. Gain access to all of the above perks at the cost of $120 after the first year.

Excellent credit card with outstanding benefits and full insurance coverage.

The Scotia Momentum Visa Infinite card was the winner of the MoneySense best cashback card with a fee in 2020 - and for good reasons! Card holders earn cash back on all purchases at varying rates. There are also other perks of card ownership including access to exclusive Scotiabank events and offers, plus ample insurance coverage.

  • Special Welcome Offer. No annual fee in the first year, including on supplementary cards.
  • Tiered Cash Back Rates. Earn 4% cash back for every dollar spent on groceries and recurring bill payments. Earn 2% cash back for every dollar spent on gas and daily transit. Finally, earn 1% cash back for every dollar spent elsewhere.
  • Additional Perks. Obtain exclusive offers from Scotiabank including concierge service, competitive hotel rates and upgrades, and access to dining and wine country programs.
  • Insurance Coverage. Ample coverage comes with this credit card, such as new mobile device, trip cancellation, trip interruption, purchase protection insurance and much more.
  • Annual Fee. Gain access to all of the above perks at the cost of $120 after the first year.

Author Bio

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Mohamed Konate

Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.