My Rate Compass

Best Insurance coverage Credit Cards in Canada for 2020

 
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.97%
Cash Advance Interest Rate: 22.97%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Easy application
  • Decent return
  • Transparent reward system
  • Free additional cards
  • Purchase benefits
Full Review
Why we like it

At no annual fee, the President?s Choice Financial World Elite MasterCard lets you get the fastest points towards free groceries. It also comes with other great offers ? a travel emergency medical insurance of up to 10 days and car rental collision or loss damage waiver insurance. With these added benefits at zero yearly cost, we consider this the best credit card for travel insurance coverage.

Easy application -With no annual fee and no minimum income requirement, this credit card appeals to young families.
  • Decent return - For a no-fee card, it gives you a good return when you shop at affiliated stores.
  • Transparent reward system - The no-nonsense reward system makes it easy for you to calculate your potential rewards.
  • Free additional cards - Get up to four free additional cards that you can link to your account to help boost your points.
  • Purchase benefits - This credit card gives free purchase assurance in the first 90 days and doubles the manufacturer?s regular warranty for up to an additional year.
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PC Financial World Elite MasterCard Review

Canada's first World Elite Mastercard with no annual fee.

Car Rental Collision/Loss Damage Waiver Insurance. Identity Theft Assistant Service to help you avoid identity theft or restore your identity 24/7 concierge service to make dinner reservations, reserve event tickets, deliver gifts and more

In PC stores 30 PC Points per $1 30 PC Points per $1 at Shoppers Drug Mart

Bonus of 3 cents per litre in PC points at Esso

30 PC Points per $1 at PC Travel

30 PC Points per $1 for PC Mobile Montlhy service

Everywhere else 10 PC Points per $1

Interest Rate: 19.97%

Fees:

  • Annual: $0
  • Balance transfer: 0.97%
  • Cash advance: $3.50 inside Canada, $5 outside Canada, plus 22.97% interest on overdue amounts
  • Foreign transaction: 2.5% per transaction
  • Missed or late payments: increased interest rates to 25.97% on all purchases and 27.97% on cash advances after two missed minimum payments
  • Over limit: $29
  • Returned payment: $42
Welcome Bonus
Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 21.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Generous first-year rewards
  • Redeem anything you want
  • Transferability of points
  • Monthly fee
  • Free supplementary card
Apply Now Full Review
Why we like it

While geared towards young people, the American Express CobaltTM 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 30,000 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.
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American Express Cobalt™ Card review


 In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card. This could add up to 30,000 points in a year.

30,000 points is enough for:

  • $300 in statement credits redeemed towards travel purchases charged to your Card or
  • $225 in Amex Prepaid Cards
  • Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
  • You can get access to your first Cobalt Perk : earn a total of 10x the points for every $1 on eligible purchases made at Amazon.ca (up to $500) in your first 3 months of Cardmembership. Enjoy your first Perk as a new Cobalt Cardmember when you apply by January 13, 2021!
  • Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery
  • Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases. That's 2X the points on purchases that get you from point A to B
  • Earn 1 point for every $1 in Card purchases everywhere else. We won't tell you where to spend, we'll just reward you on your Card purchases
  • Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with American Express® Experiences

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link. Conditions Apply

Welcome Bonus
Annual Fee: $99
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 21.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • High cashback rewards
  • Complete suite of insurance and protection plans
Apply Now Full Review
Why we like it

If you are comfortable with shelling out a small fee of $99 per year, then the SimplyCash Preferred Card from American Express is one of the best cashback rewards cards. Those who want to maximize their rewards can take advantage of the limited-time 10% cashback rewards. It also offers a comprehensive insurance package that's worth more than $100 in value.

 

Why We Like It:

  • High cashback rewards One of the highest we've seen, the 10% promo cash back is a welcome opportunity for people who have a major purchase coming up. After the four-month promotional period is up, it returns to a still high 2% cash back with no limits. Cash back is applied as a statement credit to your account each September.
  • Complete suite of insurance and protection plans This Amex card offers extensive insurance that includes insurance against rental car damage, travel accident, foreign medical, and baggage theft as well as double manufacturer's warranty and insurance against theft or damage for purchases.
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SimplyCashTM Preferred Card Review

 New SimplyCash™ Preferred Card from American Express Cardmembers can earn 10% cash back on all eligible purchases (up to $400 cash back) for the first 4 months of Cardmembership

• Earn 2.0% cash back when your Welcome Rate ends

• No limit to the amount of cash back you can earn after your Welcome Rate ends

• Access to memorable experiences with American Express Invites

• Extensive insurance coverage and 24/7 Customer Service

• American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply

 

Welcome Bonus
Annual Fee: $120
Purchases Interest Rate: 20.99%
Cash Advance Interest Rate: 21.99%
Recommended Credit Score
Excellent (740-900)
Why we like it?
  • Generous welcome bonus
  • Wide variety of rewards
  • Sufficient travel and shopping insurance
Apply Now Full Review
Why we like it

If you pay all your credit card balance monthly and is good at managing money, it makes perfect sense to get a credit card that rewards you – especially if it means free flights. Delivering the right mix of rewards and a low annual fee, the American Express AIR MILES Platinum Credit Card is a sensible credit card for people with mid to high spending. It gives you a lucrative welcome bonus, a generous rewards and referral program, and a good earn rate for an affordable annual fee.

Good value – For a $120 annual fee, this credit card provides more than enough travel benefits, rewards and insurance coverage.
  • Generous welcome bonus – This credit card comes with a 3,000 MILES sign-up bonus that is worth $310 as cash AIR MILES. This is already enough for a short-haul flight.
  • Wide variety of rewards – With more than 1000 rewards to choose from, you can redeem everything from travel to movie tickets, electronics, and more.
  • Sufficient travel and shopping insurance – You get car rental theft and damage insurance, $100,000 travel accident insurance, purchase protection plan, and buyer’s assurance protection plan.
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American Express® AIR MILES®* Platinum Credit Card Review


Earn AIR MILES®* Reward Miles

 
Turn your everyday purchases into extraordinary rewards
  • Earn 1 Mile for every $5 in Card purchases, up to $30,000 annually, on eligible food & drinks, (such as eligible restaurants, coffee shops and stand-alone grocery stores), and eligible gas & transit (such as local commuter transportation including ridesharing services and taxis) in Canada2
  • Earn 1 Mile for every $10 in Card purchases everywhere else2

  • New American Express® AIR MILES®* Platinum Credit Card Cardmembers, earn a Welcome Bonus of 3,000 AIR MILES®* Bonus Miles when you charge a total of $1,500 in purchases to your Card within your first three months of Cardmembership. That’s enough to redeem for $310 towards your purchases with AIR MILES®* Cash


    American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link. Conditions Apply

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Welcome Bonus
Annual Fee: $150
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Excellent (740-900)
Why we like it?
  • Bonus Offer
  • Earn While You Spend
  • Travel Perks
  • Travel Insurance
Apply Now Full Review
Why we like it

For the avid traveller, this credit card has everything you need, including special travel offers and insurance. The card has an annual fee of $150, but you definitely get your money's worth. Even if you have a period of no travel, you can redeem your points for statement credits or transfer them to another loyalty program for future use. You can also bank them for your next trip!

 

  • Bonus Offer. When you spend $1,500 on this credit card within the first three months of ownership, you’ll obtain 25,000 bonus points.
  • Earn While You Spend. For every dollar spent on eligible travel and everyday purchases, earn 2 points. For every dollar spent elsewhere, earn 1 point.
  • Travel Perks. Gain access to American Express’ hotel collection and special offers from Hertz car rental with this credit card.
  • Travel Insurance. Enjoy your vacation worry free with ample insurance coverage including trip interruption, car rental theft and damage, flight delay and much more.
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WELCOME BONUS OFFER

New American Express Gold Rewards Cardmembers, earn a Welcome Bonus of 25,000 Membership Rewards points when you charge $1,500 in purchases to your Card in your first 3 months of Cardmembership.

Rewards

Travel wherever, whenever, however you want.

Earn 2 points for every $1 in Card purchases on eligible travel and everyday purchases

Earn 1 point for every $1 in Card purchases everywhere else

Earn 1 additional Membership Rewards point for every $1 you charge to your American Express Gold Rewards Card on eligible hotel or car rental bookings made with American Express Travel at americanexpress.ca/travel.

Welcome Bonus
Annual Fee: $139
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Amazing Welcome Offer
  • Bonus Earning Offers
  • Scotia Rewards Earnings
  • No Foreign Transaction Fees
  • Airport Lounge Access
Apply Now Full Review
Why we like it

 

For an annual fee of $139, card holders obtain an array of travel benefits including point travel redemption, travel insurance and airport lounge access. Scotiabank boasts about this credit card because it is the only major bank in Canada that offers a credit card with no foreign transaction fees and airport lounge access.

 

  • Amazing Welcome Offer. When you spend $1,000 on the credit card within the first three months of ownership, you’ll earn 40,000 bonus points (worth about $400).
  • Bonus Earning Offers. If you spend $40,000 in a year with this credit card, you’ll earn an additional 10,000 points (worth about $100).
  • Scotia Rewards Earnings. Earn 2 Scotia points for every dollar you spend on groceries, dining, entertainment and daily transit. Earn 1 Scotia point for every dollar spent on other purchases.
  • No Foreign Transaction Fees. While the exchange rate of your foreign purchases will still apply, you’ll save money on foreign transaction fees which would typically be 2.5%.
  • Airport Lounge Access. A complimentary Priority Pass membership is provided with this credit card along with six free lounge visits per year.
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Welcome bonus: Earn up to 40,000 bonus Scotia Rewards points in your first year (that’s up to $400 towards travel )‡

• Earn 2x Scotia Rewards® points on every $1 you spend on eligible grocery stores, dining, entertainment purchases and daily transit purchases (including buses, subways, taxis and more)
• Enjoy no FX Mark-up
• Enjoy Complimentary Airport Lounge Access, plus 6 free lounge visits per year
• Rates, fees and other information are effective as of March 2, 2020. Subject to change..
Welcome Bonus
Annual Fee: $129
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Generous sign-up bonus
  • Flexible redemption options
  • Travel convenience
  • Additional protection
Apply Now Full Review
Why we like it

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 20,000 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.
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Scotiabank Gold American Express® Card review

Great reasons to get the Scotiabank Gold American Express Card for your everyday purchases.

Earn 20,000 bonus Scotia Rewards points with your first $1,000 in everyday purchases in first 3 months†

5x

eat in & eat out

Earn 5x Scotia Rewards points for every $1 CDN spent on eligible grocery stores, restaurants, fast food, and drinking establishments. Includes popular food delivery and food subscriptions.

watch & cheer

Earn 5x Scotia Rewards points for every $1 CDN spent on eligible entertainment purchases. Includes movies, theatre, and ticket agencies.


3x

ride & drive

Earn 3x Scotia Rewards points for every $1 CDN spent on eligible gas and daily transit.Includes rideshare, buses, taxis, subway, and more.

listen & stream

Earn 3x Scotia Rewards points for every $1 CDN spent on eligible select streaming services.

1x

everything else

Earn 1xScotia Rewards point for every $1 spent on every other purchase.

Welcome Bonus
Annual Fee: $399
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?

 

  • Generous rewards
  • Travel benefits
  • Complete travel insurance coverage
Apply Now Full Review
Why we like it

Aside from its high return rates, the Scotiabank Platinum American Express provides an impressive list of purchase and travel insurance benefits that justifies the annual fee. The best credit card for insurance coverage in Canada, it provides peace of mind and comprehensive protection on the road and the longest extended warranty and purchase protection.

 

  • Generous rewards -The Scotiabank Platinum Amex Card has one of the highest rates for a travel credit card. It offers an unmatched 4X points for groceries, gas, restaurants and entertainment purchases and 1x point anywhere else. Points can be used for travel, merchandise and gift cards.
  • Travel benefits -Credit cards with annual fee have to justify the cost with lots of benefits. The Scotiabank Platinum Amex gives access to a full-service travel agency with a best price guarantee, Front Line tickets to the hottest events, 24/7 concierge, and 14 free visits to priority pass lounges per year.
  • Complete travel insurance coverage -This credit card gives the best travel medical and purchase protection and the longest extended warranty (2 years) among other credit cards.
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Scotiabank®* Platinum American Express® Card review

Great reasons to get this Card for your everyday purchases

Reach your goals 4x faster

Earn 4 Scotia Reward points on every $1 you spend at eligible gas stations, grocery stores, on dining and entertainment.

Earn 1 point for every $1 you spend on everything else.

Book travel and redeem easily

Use your Card and book travel through Scotia Rewards Travel Service, our full-service travel agency.

Redeem for travel anywhere, anytime, with no travel restrictions.

Enjoy exclusive benefits

Access to complimentary concierge services, airport lounges, Hertz #1 Club Gold membership, merchandise, rewards and more.

Peace of mind for every trip

Travel with confidence on every trip with our comprehensive travel insurance coverage

Welcome Bonus
Annual Fee: $120
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
  • Welcome bonus
  • No-nonsense rewards
  • Enhanced insurance package
Apply Now Full Review
Why we like it

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  The whooping 10% cashback bonus on the first three months is a very delicious offer to refuse.
  • 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 per year.
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Great reasons to get this card for your everyday purchases

Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on supplementary cards. A welcome offer value of $350*.

• 4% on eligible recurring bill payments and grocery store purchases

• 2% on eligible gas station and daily transit purchases

• 1% cash back on all other eligible everyday purchases

• Complimentary Concierge Services 24/7
• Visa Infinite Dining Series
• Visa Infinite Music Series
• Wine Country Wonders
• Luxury Hotel Privileges
• Comprehensive Travel Insurance & New Mobile Device Insurance coverage

Welcome Bonus
Annual Fee: $149
Purchases Interest Rate: 19.9%
Cash Advance Interest Rate: 22.9%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?

No foreign transaction fees

$100 annual travel enhancement credit

31-day insurance coverage

Mastercard Airport Experiences 

Get unlimited Wi-Fi through Boingo 

Apply Now Full Review
Why we like it

Earn 3% in travel rewards on all eligible travel purchases(6 Points per $1) and 1.5% in travel rewards on all other eligible purchases(3 Points per $1).

This card comes with no foreign transaction fees, 31-day emergency travel medical insurance coverage, a 10% discount on hotel bookings, unlimited Wifi through Boingo, extended warranty, purchase assurance, and $100 travel enhancement credit.

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HSBC World Elite® Mastercard® Review

  • Welcome Bonus – 20,000 Points*($100 travel value)
  • Spend $5,000 in the first 180 days to earn an additional 80,000 Points* ($400 travel value)
  • 1st Year Annual Fee Rebate for the Primary Cardholder for the first year* ($149 value)

*Offer differs for residents of Quebec


Rewards and benefits
  • No foreign transaction fees
    Save on all your foreign currency purchases (even online) with no additional foreign currency conversion charges. Only the exchange rate will apply.

  • HSBC World Elite Rewards Program
    Earn 3% in travel rewards on all eligible travel purchases(6 Points per $1) and 1.5% in travel rewards on all other eligible purchases(3 Points per $1).
Welcome Bonus
Annual Fee: $25
Purchases Interest Rate: 11.9%
Cash Advance Interest Rate: 11.9%
Recommended Credit Score
Average to Excellent (670-900)
Why we like it?
Low Interest Rate
Insurance Coverage 
Price Protection Service
Apply Now Full Review
Why we like it
This card is perfect for any Canadian resident who wants a low-interest rate and coverage. With it, you can gain access to comprehensive travel insurance, price protection, zero liability protection, enhanced security, tap & pay, and worldwide acceptance.

Low Interest Rate :Reduce your interest on purchases, cash advances and balance transfers.

Insurance Coverage: Shop confidently knowing that your eligible purchases are well-protected when you make them using your card.

Price Protection Service: If you find a lower price within 60 days of your purchase the difference will be refunded – up to $500.
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HSBC +Rewards™ Mastercard® review

Special Offer 

Earn 20,000 Points* ($100 travel value) PLUS a full annual fee rebate for the Primary Cardholder for the first year* ($25 value). Must apply by December 28, 2020. Conditions Apply.

  • Spend $2,000 in the first 180 days to earn 20,000 Points*($100 travel value)

  • 1st Year Annual Fee Rebate for the Primary Cardholder for the first year*($25 value)

    *Offer differs for residents of Quebec

HSBC Plus Rewards Program

Earn 2 Points for every $1 on eligible dining or entertainment purchases, earn 1 Point for every $1 on all other everyday purchases*.

Redeem your Points your way – The choice is yours.

  • Travel
  • Gift cards and valuable merchandise
  • Financial rewards