My Rate Compass

Best Premium Credit Cards in Canada for 2020

 
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
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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.
Credit Card snapshot

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 

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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.

Credit Card snapshot

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).