My Rate Compass

Best Mastercard Credit Cards in Canada for 2020

 
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?

 

  • No annual fee
  • Low balance transfer
  • Free hotel stays
  • Generous hotel rewards
  • Flexible redemption options
  • Status upgrade
Why we like it

 

The Best Western Rewards MasterCard offers a little bit of everything from a low balance transfer rate to free room upgrades on top of a free hotel night stay as a welcome bonus and NO annual fee – enough to make it on our list of the best hotel credit card in Canada.

 

  • No annual fee – You don’t have to pay anything for this credit card which makes it a perfect secondary credit card in your wallet.
  • Low balance transfer – Take advantage of one of the most competitive balance transfer offer of 1.99% for 10 months.
  • Free hotel stays – Treat yourself to a free night stay as a welcome bonus.
  • Generous hotel rewards – This credit card offers an unbeatable 4.5% rewards rate when you redeem points for Best Western Hotel stays. There is also no limit to the points you can earn, no expiration, and no blackout dates. Truly a gem if you are a frequent customer.
  • Flexible redemption options – You can also redeem points for airfare, dining, merchandise, entertainment, gift cards and charity, among others.
  • Status upgrade – Automatic upgrade to gold or platinum status if you spend a lot using your credit card.
Credit Card snapshot

Free Bonus Night

Get 20,000 BWR points — enough for a one-night stay — with your first eligible purchase

$1 = 5 points

Purchases at Best Western properties earn you 5 BWR points for each eligible purchase you make

Tier Up!

Automatically get fast-tracked to Gold Elite Status after your first eligible purchase

No Annual Fee

Save money right from the start, because you don't pay an annual fee

Earn 1 BWR point for every $1 you spend on eligible purchases

Earn 5 BWR points for every $1 you spend at a Best Western property

1.99% promotional interest rate (AIR) on balance transfers for the first 10 full months

 

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
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%

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: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
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

The President's Choice Financial MasterCard is a basic no-fee credit card that is ideal for families and individuals who frequent stores where President's Choice products are sold, including Joe Fresh, Loblaws, Real Canadian Superstore, and more. It's a good way to get the most out of your weekly grocery run but may not be the best choice if you want to carry a balance or use your rewards for cash back or travel.

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

President's Choice Financial Mastercard Review

Use your PC Financial Mastercard everywhere you shop to earn PC Optimum points towards free rewards In Loblaws stores 10 PC Points per $13 Bonus of 2 cents per litre in PC points at Esso 20 PC Points per $1 at PC Travel Everywhere else 10 PC Points per $1 20 PC Points per $1 for PC Mobile Montlhy service

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


Rewards: Earn PC points on every purchase, including extra points at Shoppers Drug Mart/Pharmaprix, Esso, PC Travel and Mobil. Points can be redeemed at Loblaws, No Frills, PC Travel and Shoppers Drug Mart/Pharmaprix. Ten dollars is equal to 10,000 PC points.

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Tempting balance transfer promotion
  • Low regular interest rate
  • No annual fee
  • Fraud protection
Why we like it

With a low balance transfer rate and a promotional 0% interest for the first few months, the True Line MasterCard Credit Card is the best balance transfer credit card in Canada. Additionally, it also comes with no annual fee and a low regular interest rate that make it appealing to people without a high income or credit score and those who want to pay off multiple debts.

Why We Like It:

  • Tempting balance transfer promotion – The best feature of this credit card is the unbeatable 0% balance transfer interest rate for the first 10 months. Compared to the 24% interest rate from other credit cards, this one is definitely a winner.
  • Low regular interest rate – Once the promo expires, you will get the 12.99% rate on purchases. If you haven’t paid off your balance in the first 10 months, you will still not have a hard time paying of the remaining debt – thanks to this low interest rate.
  • No annual fee – Less money coming out of your pocket means more savings for you.
  • Fraud protection – MBNA keeps track of any suspicious activity and will look out for any fraudulent transactions on your behalf.
Credit Card snapshot
  • This low rate card has a 12.99% Standard annual interest rate on purchases
  • No Annual Fee
  • You could save on interest when you use our welcome offerto transfer a balance from a higher interest rate account
  • Welcome offer: You could save on interest with a 0% promotional annual interest rate on balance transfers? for the first 10 months, for transfers completed within 90 days of account opening. A 3% fee applies (minimum fee of $7.50 CAD)
  • Add up to 9 authorized users¤ with no additional annual fee for each added authorized user

This offer is not available for residents of Quebec.
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • No annual fee
  • Unlimited rewards
  • Automatic monthly cash back redemption
  • Flexibility
  • Get more rewards
Why we like it

Regarded as one of the best credit card in Canada, Tangerine provides no annual fee, a lucrative 2% cash back in up to 3 merchant categories, and 0.5% on all other purchases with no caps, tiers or limits. It provides choice, value and convenience to beginner credit card users and even works great as a secondary credit card.

  • No annual fee -The no annual fee for both primary and secondary holders means that you are not paying for your cash back.
  • Unlimited rewards -Earn as much cash back rewards regardless of the category.
  • Automatic monthly cash back redemption -Every month, Tangerine will either apply your cashback dollars against your credit card balance or deposit it directly into your Tangerine Savings Account.
  • Flexibility - You can choose 2-3 categories for the 2% cash back and change categories once every 90 days to match your spending pattern.
  • Get more rewards -Maximize your credit card rewards by choosing another cash back credit card that has bonus categories and using your Tangerine card to expand and get more bonus categories.
Credit Card snapshot
Tangerine Money-Back Credit Card Review

Earn 2% Money-Back Rewards on purchases in up to 3 categories of your choice, and 0.50% Money-Back Rewards on all other purchases.

  • 2% Rewards in your chosen categories
  • Get 0.50% money back on all other everyday purchases.

  • Money-Back Rewards are earned automatically and paid monthly, and can either be applied towards your Credit Card balance or redeemed into your Savings Account.

  • No limit on the amount of Money-Back Rewards you can earn.

  • Change your 2% Money-Back Categories to suit your everyday spending.

    • Optimizing your 2% Money-Back Categories to suit your everyday spending has never been easier. Choose your categories to earn the most money back.

    • During your first 6 months, transfer balances from your other high interest rate credit cards, and pay only 1.95% interest on the transferred balance for the first 6 months.

      Fees:

      • Annual: $0
      • Balance transfer: 3% with $5 minimum
      • Cash advance: $3.50 inside Canada, $5 outside Canada, plus 19.95% interest on overdue amounts
      • Foreign transaction: 2.5% per transaction
      • Missed or late payments: increased interest rates to 24.95% on all purchases
      • Over limit: $25 (Tangerine does not allow you to go over your limit unless the transaction was pre-approved)

       

Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
No Annual Fee: Get rewards without annual fees

Save up to 10c/litre on gas at Canadian Tire gas bars instantly

Financing program: 12 equal monthly payments, with NO Fee and NO Interest financing

 

Why we like it

With the Canadian Tire Gas Advantage MasterCard you can get rewards without annual fees.

You can save up to 10 cents off per litre of gas at Canadian Tire Gas Bars. It is simple, you swipe and save instantly on your gas bill.

Additionality you will take advantage of all Mastercard benefits like Zero Liability, Mastercard Global Service and acceptance at millions of merchants worldwide.


No Annual Fee: Get rewards without annual fees

Save up to 10c/litre on gas at Canadian Tire gas bars instantly

Financing program: 12 equal monthly payments, with NO Fee and NO Interest financing
Credit Card snapshot
Just swipe your Gas Advantage Mastercard at Canadian Tire Gas+ Bars and your price per litre drops instantly.

The more you use your card for everyday purchases, the more you save: from 2c to 10c/litre.

Pay with your card at Canadian Tire, Sport Chek, Atmosphere, Sports Rousseau, Hockey Experts, L'Entrepot du Hockey and participating Sports Experts and Mark's locations and the amount you spend is worth 2X...
Welcome Bonus
Annual Fee: $39
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
Why we like it
Credit Card snapshot

WestJet RBC Mastercard Review

Receive a welcome bonus of 50 WestJet dollars the first time you use your card Earn WestJet dollars on your everyday purchases Travel whenever you want no blackouts or seat restrictions with your Westjet Mastercard

Interest Rate: 19.99%

Fees:

  • Annual: $39, plus $19 for every additional card
  • Balance transfer: N/A
  • Cash advance: $3.50 in Canada and $5 outside Canada, plus 22.99% interest on overdue amounts
  • Foreign transaction: 2.5% per transaction
  • Missed or late payments: increased interest rates to 24.99% on all purchases and 27.97% on cash advances after two missed minimum payments
  • Over limit: $29
  • Returned payment: $45
Rewards:

  • Collect WestJet dollars for future vacations while making purchases, additional points when you purchase WestJet flights or vacation packages.
  • Additional benefits include extra points on Petro Canada purchases, travel assistance, travel insurance and worldwide acceptability.
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Appealing low balance transfer offer
  • $0 annual fee
  • Cashback on four key areas
  • Peace of mind
Why we like it

Although it comes with no bells and whistles, the Scotia Momentum MasterCard Credit Card has an attractive low balance transfer promotion that may be appealing for people looking to pay off their debt. This no-fee cashback credit card also has solid features enough to make it ideal for people who want to build their credit.

Why We Like It:

  • Appealing low balance transfer offer This credit card offers a tempting 7.99% balance transfer promotional interest rate for a limited time, so you can slowly pay off your existing balance.
  • $0 annual fee Because it is a no-fee credit card, it makes the perfect starter card, or a secondary card for existing Visa or Amex cardholders who wish to shop on stores where only a MasterCard is accepted such as Costco.
  • Cashback on four key areas Not many no-free credit cards offer no-limit cashback rewards on gas, groceries, drugstore and recurring bills.
  • Peace of mind Even though this MasterCard lacks travel insurance and purchase protection, it makes up for it by giving 0% liability on all unauthorized credit card payments.
Credit Card snapshot

Scotia Momentum Mastercard Credit Card review

•7.99% introductory interest rate on purchases for the first 6 months (19.99% after that)◊

• Cash back on everyday spending with no annual fee

• 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bill payments

• 0.5% cash back on all other eligible everyday purchases

• Rates, fees and other information are effective as of August 1, 2019. Subject to change.

Make everyday purchases quickly and safely with just a tap of your contactless-enabled Mastercard or device

Welcome Bonus
Annual Fee: $119
Purchases Interest Rate: Not Available
Purchases Interest Rate: Not Available
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?

 

  • Instant sign-up bon
  • Travel light
  • Travel together
  • Full security during travel
  • Double the earnings
Why we like it

For the completely loyal WestJet passenger, the WestJet RBC World Elite MasterCard ? when used with a companion voucher ? helps deliver the most value for a travel credit card. It comes with numerous travel perks that when added together can amount to huge savings. And because it comes with an annual companion voucher and free checked bags, this credit card is best for families and couples.

  • Instant sign-up bonus - No minimum spend required. You will instantly get $250 WestJet dollars as a welcome bonus after your first purchase.
  • Travel light - One free checked bag for every person flying on the same itinerary as you (up to a maximum of 8 bags).
  • Travel together - Take your family or your special someone with you on a trip. The annual round trip companion voucher covers the base fare for someone who will be travelling with you. What?s also great about the voucher is that you can use it on any flight, on any schedule and on the same class fare as you are booked.
  • Full security during travel - Get covered while you travel against travel medical, trip interruption, purchase security and extended warranty, auto rental collision & loss, and more.
  • Double the earnings - Maximize your earning potential when you use the credit card and your WestJet Rewards ID when booking a flight.
Credit Card snapshot

Get 250 welcome WestJet dollars

Free first checked bags for the primary cardholder

Get an annual round-trip companion voucher starting at $99 CAD (plus taxes, fees and charges)


Interest Rate: 19.99%

Fees:

  • Annual: $119, plus $59 for every additional card
  • Balance transfer: N/A
  • Cash advance: $3.50 in Canada and $5 outside Canada, plus 22.99% interest on overdue amounts
  • Foreign transaction: 2.5% per transaction
  • Missed or late payments: increased interest rates to 24.99% on all purchases and 27.97% on cash advances after two missed minimum payments
  • Over limit: $29
  • Returned payment: $45

 

Rewards:

Collect WestJet dollars for future vacations while making purchases, additional points when you purchase WestJet flights or vacation packages. Additional benefits includes extra points on Petro Canada purchases, travel assistance, travel insurance and world wide acceptability.