Best VISA Credit Cards in Canada for 2020

Pay fewer fees when it comes to foreign transaction and purchases made across the border with a US dollar credit card. And when it comes to these specialty credit cards, the Scotiabank US Dollar VISA stands out with no U.S. dollar conversion fees on top of purchase security, extended warranty and a 25% discount at participating Avis locations.

• Low annual fee – While you have to pay a small amount of annual fee, the fee is significantly lower than other credit cards and is worth it if you usually make purchases in USD.
• Pay in U.S. dollars – Save more on offline and online purchases. Aside from saving money from fluctuating currency conversion, you don’t have to pay the 2.5% foreign transaction fee that other credit cards charge.
• Faster online checkout – Easy checkout and online purchases with Visa Checkout. This credit card is also eligible for Apple Pay and Android Pay.
• Purchase protection – Purchases made with the credit card are eligible for an extended warranty of 1 year and purchase protection for 90 days.

Students who are serious in building their credit history may find the L?earn Visa Card to their liking. It has no annual fee, gives 1% cash back and has easy-approval requirements. While this student credit card has no bells and whistles in terms of rewards, the straightforward cash back structure offers enough rebates for you to save cash when you shop and delivers the advantages of a credit card minus the high-income requirement.

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Why We Like It:

• No annual fee ? Get started in building your credit history at no cost.
• Increased cash back rewards with each spend ? The tiered cash back structure lets you earn more rebates with more spending. Cash is automatically applied to your next upcoming bill and there is no limit to the amount of cash back you earn.
• Faster payment ? Perfect for on-the-go shopping, this credit card delivers Visa payWave convenience. Simply wave your card or use the app on the counter to pay for your purchase. This credit card is also compatible with Apple Pay, Android Pay, and My Mobile Wallet.
• Car rental savings ? Similar to the Scotia Value Visa, this credit card gives 20% discount on Avis rental cars.

With no foreign transaction fee and no annual fee in one credit card, what’s not to like about the Home Trust Preferred Visa? And because this is a no fee credit card, all benefits come free, including free roadside assistance in Canada.

Why We Like It:

• No annual fee – You can try it for free, and you don’t need to shell out $100 to keep it.
• No foreign transaction fee – 0% foreign currency conversion charge when shopping abroad. It’s perfect for online and cross-border purchases – saving you 2.5% of the total cost.
• 1% Cash back rewards – Regardless of the category, this credit card gives 1% cash back with NO limit and restriction on how much you can earn each year. The total cash back balance is credited to your account at the start of each year.
• Free roadside assist membership – 24/7 Free roadside assistance includes free 5-litre gas delivery, emergency towing services up to 5 km away, key lock-out, tire service, and battery boosting.
• Sufficient protection – Insurance covers auto rental collision and loss as well as purchase protection.

The Home Trust Secured Visa is designed for individuals who need to rebuild or reestablish their credit. It offers easy approval for anyone and gives you a flexible credit limit, ranging from $500 to $10,000, depending on your security deposit. Of course, it also comes with other benefits such as a 21-day no-interest grace period and no annual fee.

Why We Like It:

• Easy application – Start rebuilding your credit score immediately. Almost everyone is approved for this secured credit card.
• No annual fee – You pay absolutely nothing to get and use this credit card.
• Flexible credit limit – From a minimum deposit of $500, you can get a credit limit scaling at 1:1 all the way up to $10,000. The security deposit will also be reimbursed in full (minus the outstanding balance) should the credit card be cancelled in the future.
• Low minimum payments – If you want to pay the minimum, you can pay whichever is higher: $10 or 3% of the monthly balance.
• Monthly reporting – Home Trust reports your progress to major credit agencies each month – jumpstarting your credit repair.

The Home Trust Preferred Visa provides 1% cash back rate along with its no foreign transaction fees which is excellent for travelers. In fact, cardholders will be saving 2.5% fees on purchases made outside Canada or in a foreign currency. The combination of these 2 features make this card a great card to have, especially when there is no annual fee.

• No annual fee
• 1% CashBack
• No foreign transaction fees

With a premium rewards program that gives you the flexibility to redeem points and rewards, we consider the RBC Visa Business Platinum Avion the best business credit card in Canada. It?s great for businesses that spend more than $800 a month and want a comprehensive insurance program for overseas travel and a lucrative welcome bonus on top of the flexibility in redeeming points.

• Best travel companion ? The perfect card for business owners who constantly travel, it provides 25% more points on travel related purchases and as the ability to transfer points to other travel rewards programs. It also comes with a comprehensive travel insurance package that covers medical, trip interruption and cancellation, and rental car collision and damage protection.
• Convenient redemption ? Points can be used to redeem flights, vacation packages, merchandise, rentals, balance payment, gift cards for employees, and more.
• Simplified business processes ? This credit card helps simplify employee reimbursement, accounting, and help identify tax-deductible expenses.

Always going to the US for vacation? Then it pays to have the TD US Dollar Visa Card in your wallet. It lets you pay in USD directly, eliminating foreign exchange fees and giving you better exchange rates than if you use other Canadian credit cards. This US dollar credit card is perfect for the frequent cross-border shopper or business people who are heading south often.

• Freedom to shop across the border – Because you won’t be charged a foreign exchange fee (usually 2.5% from regular credit cards), you can shop, eat at foreign restaurant or book a hotel with peace of mind and more savings on your pocket. It also takes the guesswork out of fluctuating currency exchange rates.
• Enough protection – While other US credit cards offer minimal protection, the TD US Dollar Visa Card provides sufficient trip interruption coverage, delayed and lost baggage insurance, collision or loss damage coverage for rental cars, and purchase security and extended warranty protection.
• Convenient payment – This credit card offers chip and payWave convenience. It is also compatible with Apple Pay.

The RBC Visa Signature Black is a good card for people who regularly purchase in USD and who shop across the border. It transacts using U.S. dollar so you can avoid daily fluctuations. Because this is also an American credit card and not just a USD currency card, it does not charge the typical 2.5% foreign transaction fee on purchases in the US.

• No U.S. credit score or address required – the company will use your Canadian credit history and any RBC relationship to qualify you for your card.
• Flexible redemption – This credit card lets you earn 1 RBC Rewards point for every $1 spent. Points earned can be redeemed for cash back, travel, gift cards, merchandise, and more.
• Various benefits – This credit card protects what’s valuable to you with trip cancellation or interruption insurance, travel accident insurance, auto rental collision damage waiver, cell phone insurance, and purchase security.

With a car being an essential albeit expensive purchase for a growing business, the Scotiabank GM Business Visa comes in handy for the entrepreneur seeking to buy or lease a GM car in the near future. At the same time, it offers practical benefits for the pragmatic businessman, including rental car discounts and a decent shopper protection program for a small annual fee that you can waive on the 1^st year.

Why We Like It:

• Specialized vehicle rewards program Business purchases qualify for 5% GM cash back that you can use to purchase a new Chevrolet, Buick, GMC, or Cadillac. With $1 in GM cash back equal to $1 toward your next car purchase, getting a car is easier especially when combined with your own savings. This co-branded business credit card also gives access to GM Business Choice program to help prepare your new vehicle for work.
• No cash back limits and expiration dates Enjoy your points and rewards as long as you keep the card. The 5% GM earnings is applicable on the 1st $10,000 spent annually, then it becomes 2% after.
• Purchase security and extended warranty For a business credit card with low annual fee, the Scotiabank GM business Visa offers automatic insurance for eligible purchases worldwide against theft, loss or damage for 90 days.
• Attractive sign-up bonus Balance transfers get a 2.99% introductory interest rate for the 1^st six months. You also get to waive your annual fee on the first year , giving you more reason to check if this is the best business credit card for your needs.

The TD Aeroplan Visa Infinite Card is a versatile credit card that allows you to earn Aeroplan miles, get a comprehensive travel insurance package, and earn rewards at a decent rate. With TD being the official partner of Aeroplan, we consider this the best Aeroplan credit card in Canada. It targets members and gives double miles when used together with the Aeroplan membership card.

• Lucrative welcome bonus – For a limited time, new cardholders will get 6% cash back on eligible purchases for up to a total spend of $3,500. That’s equivalent to $210 worth in cash back!
• Generous cash back on gas, groceries and recurring bills – Only few Canadian credit cards provide cash back on automated billing payments – making this one of the best reasons to get the TD Cash Back Visa Infinite Card.
• Redeem your rewards any time – Instead of waiting at the end of the year to redeem your cash back, you can use your cashback dollars to pay your credit card balance whenever you like (minimum $25 per redemption).
• Peace of mind when travelling – With a medical coverage that includes standard protection and up to $2 million coverage during the first 10 days of a trip, this card lets you travel in peace. In addition, it also offers access to emergency travel assistance as well as delayed and lost baggage insurance.
• Assistance on the road – This credit card gives you complimentary membership to the company’s TD Auto Club and makes you eligible for free emergency roadside assistance anytime.

The CIBC Aerogold Visa for Business is a practical way to consolidate all your business expenses while getting rewarded. The reward system is decent with 1.5 Aeroplan miles per dollar spent when you consider an annual fee that's lower than other business credit cards in Canada. Plus, with Air Canada Perks thrown in the mix, the CIBC Aerogold Business Credit Card makes travelling for business more pleasurable.

Why We Like It:

• Value-packed sign-up bonus This credit card gives you a chance to earn around 35,000 Aeroplan miles on the 1^st four statement periods. It also offers a $120 Air Canada eGift card that you can use on your travels.
• Structured earning system Rewards are no-nonsense with 1.5 Aeroplan miles for every $1 spent on gas and travel and 1 Aeroplan mile on the rest.
• Travel comforts Enjoy Aeroplan-related perks such as complimentary first checked bag, priority check-in and boarding and one-time Maple Leaf Lounge pass to make jet setting easier.
• Good insurance coverage Have peace of mind knowing that you are covered with what's important such as flight and delayed baggage insurance, car rental theft and damage insurance, common carrier damage insurance, and trip cancellation and interruption insurance, to name a few.

With the CIBC Dividend Visa Infinite Card, the cash back rewards are endless – especially if you use your credit card mostly for gas and groceries. You can earn up to 4% cash back with no limit on the amount you can earn. It’s the best credit card for gas, groceries and family spending.

• Generous earnings on the first months – For the first 4 months, this credit card gives you a 4% cash back on all spend. It’s the perfect way to test if this card suits your lifestyle and spending habits.
• Perfect for families – With 4% regular cash back on gas and grocery purchases, it’s the right credit card for growing families who spend a lot on these key areas.
• Unlimited cash back at the 1% rate – Fill your pockets with rewards with no limits on the 1% cash back range. And with the cap set at $80,000 for the 4% cash back, this credit card still gives you the best return for your purchases.
• Valuable insurance – It comes with purchase protection, emergency medical and trip interruption insurance, accident insurance, and more.
• Travel in style – Experience luxury worldwide travel and hotel benefits when using this credit card.

The CIBC Aventura Visa Infinite Card is jam-packed with benefits with an alluring starting bonus, NEXUS application rebate, travel and mobile device insurance, and perks that make travelling easier and more comfortable. Plus, with the waived annual fee on the first year, there is no reason not to get this great travelers and rewards card.

• Lucrative welcome offer -With a special offer of up to 20,000 points and $120 credit, this travel credit card will fast track your travel plans.
• Upgraded travel experience -Free memberships to Priority Pass airport lounges and the NEXUS program will take your airport experience to the next level. This means that you can skip line ups between the US and Canada and gain access to over 1,200 international airport lounges that commonly feature topnotch perks such as showers, free Wi-Fi and more!
• Premium travel insurance - Get covered with emergency medical insurance, trip cancellation and bag loss insurance, rental car coverage, and hotel burglary insurance.
• Mobile device protection - This credit card reimburses you up to $1000 for a mobile device that is lost, stolen or accidentally damaged.

The product of TD's partnership with Expedia, the TD First Class Travel Visa Infinite Card is a match made in heaven for travelers. It comes with a host of travel benefits including a flexible points program, generous sign-up bonus and impressive travel insurance coverage.

• Generous sign-up bonus - For a limited time, new applicants can receive up to 20,000 TD bonus points ($100 value when redeemed for travel).
• Rich travel rewards- Book your flights or any form of travel on ExpediaforTD.com and get back an equivalent of 4.5% for every dollar spent. This is a lot compared to the 2% reward offered by most travel credit cards in Canada. Plus, ExpediaforTD offers the same access to flights and hotels offered by Expedia.com, giving you a lot of options for flights and hotel packages at your fingertips.
• Flexible travel options - You can redeem your points for almost everything travel-related such as flights on any airline, hotel stays, car rentals and vacation packages. Points can also be used to cover the cost of taxes and fees as well as be used to redeem merchandise and gift cards from TD's e-store.
• Full range of travel insurance benefits - Get fully covered and protected with a comprehensive travel insurance that includes $1,000,000 in travel medical coverage and rental car insurance.

0.99% introductory interest rate on Cash Advances for the first 6 months 

The Scotia Value Visa is aimed at individuals looking for a good balance transfer credit that offers decent privileges and a lower interest rate beyond the introductory promo period. Although it comes with a minimal fee, customers who cannot pay their balance in full can take advantage of the low post-promotional rate of 12.99%. Plus, if you regularly rent cars from Avis, then you might get the best value out of this card.

Why We Like It:

• Save on car rentals -Save up to 25% when you use the Scotia Value Visa to book your rental cars with AVIS and other budget rental car locations in Canada.
• Optional insurance coverage - For a small fee, depending on the remaining balance on your credit card, you can receive financial protection from a range of life events such as job loss, disability, critical illness, and loss of life.
• Faster checkout -The payWave feature helps you save time by allowing you to simply wave the card or use the app on your mobile phone to pay for small purchases.
• Free supplement card - Get an additional supplementary cardholder at no extra charge.

Great for students and individuals who love going to the movies, the SCENE Visa Card gives generous points for movie ticket purchases at Cineplex Theatres and rewards you for everyday purchases on top of it. In addition, this card has no annual fee for both primary and supplementary cardholders. Try it, completely risk free, for no other reason than getting free movies.

Why We Like It:

• Free movies - For starters, the generous sign-up bonus gives you around 2 to 5 free movies simply by checking out this credit card.
• No annual fee - The zero-yearly fee means that you are free to test if this credit card is for you.
• Generous rewards - Earn an impressive 5 points for every dollar spent at Cineplex Odeon Theatres (i.e. Famous Players, SilverCity, Scotiabank Theatres, Cinema City, Galaxy, etc.) and 1 point everywhere else.
• Redeem as soon as you can - Redeem for music, movies and other rewards for as low as 1,000 points.
• Points don't expire -You earn and get to keep your points for as long your account remains active.

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.

The Scotiabank Momentum Business Visa helps business owners organize and track expenses with ease while rewarding them for everyday purchases. With up to 3% cash back and an introductory low balance transfer rate, this business credit card is ideal for startups with pre-existing debt and business owners looking to expand.

Why We Like It:

• Low balance transfer rate For a limited time, new card holders get 2.99% interest rate on balance transfers for the first 6 months. This may be an enough time for businesses with pre-existing debt to clear out their balance.
• Invest back into your business Earn 3% cash back on common spending including gas, office supplies, restaurants, and recurring bills.
• Organize financial statements Easy tracking of business expenses with all spending consolidated in one monthly statement.
• Protect what matters This credit card for business includes four types of travel and purchase insurance which are enough to protect your business as it grows.
• Low annual fee The annual fee of $49 is lower compared to most business cash back credit cards in Canada.

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.