My Rate Compass

Credit Cards By Bank

 

Thinking about getting a new credit card? There are now so many banking institutions in Canada that you are spoiled for choices. Even more so if you have good credit and reasonable spending habits.

When it comes to choosing a new credit card you need to think about spending habits, rewards, and your current credit score. Your credit card should work for you and allow you to earn points, cash, or direct rewards.

American Express Credit Cards

American Express exclusively deals with credit cards, and as a premium card issuer, they know how to attract desirable customers. American Express credit cards offer large annual reward amounts to regular spenders. Cash rewards are worth the most, but frequent travelers can opt Air Miles.


BMO Credit Cards

Many BMO credit cards have income requirements, but in return, customers receive low-interest rates or waived annual fees. BMO offers its customers cashback, travel rewards, and exclusive perks such as Masterclass airport lounge privileges just for signing up.

 

BRIM Financial Credit Cards

BRIM Financial credit cards are great for Canadians who shop in America frequently since they waive the foreign exchange fees. Purchase goods where you want and pay one flat fee. BRIM credit cards also offer their customers a full suite of extra perks you won't find from many credit card companies including event ticket protection insurance, bonus reward points for shopping at select retailers, and mobile device insurance. All this just for becoming a BRIM Financial credit cardholder.

 

Canadian Tire Financial Credit Cards

Canadian Tire Financial offers unique credit cards that can be used anywhere MasterCard is accepted, but offer special perks when used at any auto-related stores owned by Canadian Tire including discounts on gas every time you fill up at Gas+ or Husky stations and 4% cashback on all purchases at Canadian Tire stores. Certain cards also offer free roadside assistance and most cards do not require annual fees.

 

Capital One Credit Cards

Capital One is an exclusive credit card provider, and as such has several different classes of cards available to consumers. Capital One credit cards typically don't require annual fees for applicants with good credit scores and offer cashback on purchases.

 

CIBC Credit Cards

As one of the largest banking institutions in Canada, it should come as little surprise that they offer a wide array of credit products. CIBC credit cards are divided into three categories: Aeroplan credit cards, Aventura CIBC credit cards for earning travel points, and Dividend cards for earning cashback. Many of the cashback cards skip the annual fee.

 

Desjardins Credit Cards

Desjardins is a Quebec credit union, but the non-profit bank offers its Desjardins credit cards to all Canadians. They are known for their low-interest rates, insurance programs, and flexible rewards program. In addition, frequent fliers can enjoy access to the Desjardins Odyssey airport lounge with some card offers.

 

Home Trust Credit Cards

Home Trust first entered the financial sector as a mortgage lender but has branched out to other banking products including credit cards. As a new entrant into the marketplace, the selection of Home Trust credit cards is slim, but they offer a no foreign exchange fees and no-fee period credit card.

 

HSBC Credit Cards

HSBC is not known for its Canadian credit cards because for most of them you need to be an HSBC account holder to gain access. They do offer three credit cards to the general public with low annual fees and very low-interest rates for qualified candidates.

 

Hudson's Bay Credit Cards

Unknown to many, Hudson's Bay credit cards can be used anywhere that MasterCard is accepted, but if you use them in the store you get double the reward points. Even outside purchases accumulate points towards rewards. The downside is that you have to use your rewards at Hudson's Bay or trade them in for a very minimal amount of air miles comparatively. Thus, Hudson's Bay credit cards are the best choice for frequent Hudson's Bay shoppers and no so much for regular credit card users.

 

Laurentian Bank Credit Cards

Laurentian Bank operates digitally and also offers its customers and Canadians in general a small selection of Laurentian Bank credit cards. Most do not have an annual fee or waive the annual fee with certain spending minimums.

 

MBNA Credit Cards

MBNA offers a wide array of MBNA credit cards designed to meet the needs of every type of consumer. Known for some of the lowest interest rates on the market, MBNA credit cards also offer flexible rewards that maintain their value upon conversion.

 

National Bank Credit Cards

In general National Bank of Canada, credit cards are known for great cashback, but they do offer some pretty amazing traveler's perks including emergency medical insurance, trip cancellation protection, and flight delay coverage.

 

PC Financial Credit Cards

PC Financial credit cards don't offer the flexibility of standard credit cards, but they do help collectors earn their PC Optimum points a lot quicker which can then be used for groceries or other store items. Points can be earned at all PC stores including Loblaws and Shoppers Drug Mart.

 

RBC Credit Cards

One of Canada's top five banks, RBC offers various cards with competitive interest rates and varied reward perks. For instance, some cards offer rock bottom interest rates while others offer substantial cashback. The Avion line of RBC credit cards offer travel rewards and/or specific airline credit cards.

 

Refresh Financial Credit Card

Refresh Financial credit card caters to those with poor to bad credit who need help turning their credit portfolio around. They also offer low annual fees and are a great entry-level card or a first-time credit cardholder.

 

Rogers Bank Credit Cards

Rogers bank credit cards offer standard cashback options and standard interest rates. Rogers is the largest telecommunications company in Canada and cardholders could redeem for Rogers products and services.


Scotiabank Credit Cards

Scotiabank credit cards offer a wide range of rewards to customers including store rewards, cash back, and travel rewards. As a major banking institution, they offer a wealth credit card choice and stand out as the only one of the top 5 banks to offer credit cards without foreign exchange fees.

 

Simplii Financial Credit Card

One of the leading names in the digital banking sector of Canada, Simplii Financial credit cards are excellent no-fee options for Simpli Financial account holders. Once you open an account, you can access w credit card with no annual fee and great cashback that can be as high as 4% for all restaurant purchases. It should be noted Quebec citizens are not eligible to obtain the credit card.

 

Tangerine Credit Cards

Tangerine made its name in the virtual world of banking by offering no-fee banking, so it should come as no surprise that their foray into the credit card world includes no fee Tangerine credit cards that offer excellent cash back or flexible rewards.


TD Canada Trust Credit Cards

Best known for their Aeroplan credit cards, TD Canada Trust's range of signature credit cards also include cashback and flexible rewards offers. TD Canada Trust offers competitive interest rates on all cards and breaks on annual fees for big spenders.

 

Walmart Financial Credit Cards

There are Walmart stores everywhere, so it should come as little surprise that Walmart Financial credit cards are also available to anyone shopping at their stores. Entry-level cards offer 1.25% cashback on all money spent at Walmart.ca and another 1% at gas stations, but high-income shoppers can take advantage of the elite card that offers 3% cashback on all Walmart.ca purchases.

 

Sign up below and get the hottest deals and tips

Get exclusive offers, discounts, and the latest news in personal finance. You can unsubscribe at any given time.