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
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Easy application
  • Decent return
  • Transparent reward system?
  • Free additional cards
  • Purchase benefits
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.
Credit Card snapshot
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%


  • 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: 22.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Generous first-year rewards
  • Redeem anything you want
  • Transferability of points
  • Monthly fee
  • Free supplementary card
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.
Credit Card snapshot

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:

  • An eligible short-haul flight using the Fixed Points Travel Program, or
  • $300 in statement credits redeemed towards travel purchases charged to your Card or
  • $300 worth of tickets on
  • Earn 5 points for every $1 spent on Card purchases at eligible restaurants, bars, grocery stores and food delivery in Canada
  • 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
  • Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
  • Get advance access to tickets to some of the hottest concerts, shows and events through Front Of The Line® by American Express Invites® and advance screenings to blockbuster movies

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: $399
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 22.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?


  • Generous rewards
  • Travel benefits
  • Complete travel insurance coverage
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.
Credit Card snapshot

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