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MoneySense is an award-winning journal, serving to Canadians navigate cash issues since 1999. Our editorial crew of skilled journalists works intently with main private finance specialists in Canada. That will help you discover one of the best monetary merchandise, we examine the choices from over 12 main establishments, together with banks, credit score unions and card issuers. Be taught extra about our promoting and trusted companions.
The very best Visa bank cards by class
As the biggest bank card firm on this planet, Visa is a strong selection for any Canadian wanting the peace of mind of huge card acceptance each at dwelling and overseas—Visa playing cards are accepted in additional than 200 nations and territories. However which Visa do you have to select? This information to one of the best Visa playing cards in Canada will assist you resolve.
| Greatest playing cards by class | Why we find it irresistible |
|---|---|
| Greatest money again Visa CIBC Dividend Visa Infinite Annual payment: $120 |
Between 2% and 4% money again throughout 5 main spending classes, plus simple redemptions |
| Greatest no-fee money again Visa Simplii Monetary Money Again Visa Annual payment: $0 |
Good for eating out, with 4% money again on restaurant, bar and low store purchases |
| Greatest journey rewards Visa TD First Class Journey Visa Infinite Card Annual payment: $139 |
Robust return on spending when reserving with Expedia for TD, plus an annual $100 journey credit score |
| Greatest airline journey bank card (Aeroplan) TD Aeroplan Visa Infinite Card Annual payment: $139 |
Excessive earn charges on fuel, groceries and Air Canada purchases, simple redemptions and a $100 Nexus payment rebate each 2 years |
| Greatest low-interest Visa RBC Visa Basic Low Price Possibility Annual payment: $20 |
A low 12.99% rate of interest on purchases and money advances, with a low annual payment |
Greatest money again Visa
At a look: Take the sting out of rising costs with the CIBC Dividend Visa Infinite’s return of 4% money again on fuel, EV charging and groceries, and a couple of% again on each day transit (together with rideshares and public transit), eating and recurring funds. You’ll additionally get perks like journey medical and rental automobile collision insurance coverage.
CIBC Dividend Visa Infinite
- Annual payment: $120
- Earn charges: 4% money again on eligible fuel, EV charging and grocery purchases; 2% on eating, each day transit and recurring funds; and 1% on every part else
- Welcome bonus: You’ll be able to earn 10% money again welcome bonus of as much as $200 (first 4 statements). Supply not obtainable to QC residents. Phrases and circumstances apply.
- Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000
Execs
- Gives spectacular bonus charges of between 2% and 4% money again throughout 5 main spending classes.
- Get your money again if you need it, utilizing the CIBC app. With many different playing cards, rewards are deposited into your account as soon as per yr.
- Hyperlink your card to Journie Rewards to get deeper reductions on fuel at collaborating Pioneer, Fas Gasoline, Ultramar and Chevron stations.
- Comes with journey, automobile rental and new cell machine insurance coverage.
Cons
- The cardboard’s emergency journey medical insurance coverage covers the primary 10 days of your journey, so that you’ll have to purchase extra insurance coverage for longer journeys. Plus, there’s no misplaced and delayed baggage insurance coverage.
- The caps on bonus earn charges are a bit stricter than these of another playing cards. After reaching $20,000 in purchases inside the bonus classes or $80,000 in whole spending, any extra purchases will solely earn 1% money again. This resets the day after your December assertion is issued.
Honourable point out
At a look: The Scotiabank Momentum Visa Infinite is our runner-up for one of the best money again Visa for its sturdy buy and journey safety, in addition to its excessive earn charges—4% on groceries and recurring payments, 2% on fuel and each day transit (together with public transit, taxis and rideshares), and 1% on all different purchases.
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Scotia Momentum Visa Infinite
- Annual payment: $120 (waived for the primary yr)
- Earn charges: 4% money again on groceries, recurring invoice funds and subscription providers; 2% on fuel and public transit; and 1% on every part else
- Welcome bonus: earn 10% money again on all purchases for the primary 3 months (as much as $2,000 in whole purchases). No annual payment within the first yr, together with on extra playing cards. Supply ends October 31, 2024.
- Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000
Execs
- For money again on recurring invoice funds, this card is unmatched. The 4% earn price on recurring payments and subscription funds—every part from cellphone payments to subscription providers like Netflix and Spotify, and insurance coverage premiums to health club memberships—is the best within the nation. And the identical 4% bonus price on grocery purchases ensures you’ll financial institution rewards shortly.
- Comes with new cell machine, journey and automobile rental insurance coverage.
- Repay bigger purchases in installments by Scotia SelectPay.
Cons
- You’ll be able to solely entry your money again as soon as per yr, and solely as a press release credit score.
- You’ll solely earn 4% again on the primary $25,000 spent yearly on groceries and recurring funds, and a couple of% again on the primary $25,000 spent on fuel, EV charging and each day transit—at which level you’ll earn on the base price of 1%. However these limits are beneficiant sufficient to not affect most cardholders.
Greatest no-fee money again Visa
At a look: The no-fee Simplii Monetary Money Again Visa presents 4% money again on purchases at eating places, bars and low retailers, making it a high decide for individuals who wish to dine out. The 1.5% return on fuel, groceries and drugstore purchases can also be respectable.
Simplii Monetary Money Again Visa
- Annual payment: $0
- Earn charges: 4% money again on eating at eating places, bars and low retailers; 1.5% again on fuel, groceries, drugstores and recurring invoice funds; and 0.5% on all different purchases
- Welcome provide: Earn as much as $150 of worth in your first 4 months, together with 10% money again on eligible eating places, bars and takeout (on the primary $500 spent).
- Annual revenue requirement: Private or family revenue of $15,000
Execs
- Most no-fee money again playing cards provide not more than 2% again on restaurant, bar and low store purchases—that means your return on spending on this class is sort of double what you get with comparable playing cards.
- The low minimal annual revenue requirement makes it a super-accessible card.
Cons
- Although spectacular for a no-fee card, the 4% earn price on eating is capped at your first $5,000 in purchases (a cap that resets yearly). For purchases past that threshold, the speed drops to 0.5%. So, should you spend $10,000 yearly on eating out, you’d earn $225 in money again, the majority of which ($200) could be on the primary $5,000.
- You need to have a Simplii Monetary checking account to get the cardboard.
- Like most no-fee playing cards, this one doesn’t provide many extras or perks.
Greatest journey rewards Visa
At a look: When utilized in live performance with the Expedia for TD website, the TD First Class Journey Visa Infinite card can assist you rack up main journey factors that may be redeemed simply for a variety of journey rewards. This program retains it easy with no blackout dates, no seat restrictions and no expiry on your factors. As one other strong perk, get a $100 annual journey credit score if you spend greater than $500 on Expedia for TD.
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TD First Class Journey Visa Infinite Card
- Annual payment: $139 (annual payment rebate—circumstances apply to qualify)
- Earn charges: As much as 8 TD Rewards factors per $1 on journey; 6 factors per $1 on groceries and eating places; 4 factors per $1 on recurring payments; and a couple of factors per $1 on all different purchases
- Welcome provide: You’ll be able to earn as much as $1,100 in worth, together with as much as 135,000 TD Rewards Factors and no annual payment for the primary yr. Situations apply. Account should be authorised by March 4, 2024. Plus, you get an annual birthday bonus of 10% of your earlier yr’s factors (as much as 10,000 factors).
- Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000
Execs
- Your return on spending could be as excessive as 4%, when reserving by Expedia for TD, which typically presents the identical offers as the principle Expedia website. Get 8 factors per greenback spent on Expedia for TD, then redeem 200 factors for $1 off your reserving—no blackout dates or restrictions.
- Get a $100 annual journey credit score if you spend greater than $500 on Expedia for TD.
- Not like another journey applications, redemptions are simple—there aren’t any difficult chart programs or blackout dates to pay attention to.
- As a birthday bonus, obtain 10% of the factors you earned within the earlier yr (as much as a most of 10,000 factors.
- This card has a powerful insurance coverage package deal with as much as $2 million in protection for journeys of as much as 21 days.
Cons
- You’ll get much less worth on your factors should you e book exterior of Expedia for TD. Whereas factors are price $0.005 when redeemed by the positioning, you’ll must redeem 250 factors to avoid wasting $1 on different journey websites, decreasing the worth of every level to $0.004.
- The annual payment is barely greater than these of comparable journey playing cards.
Greatest airline journey bank card
For Aeroplan
At a look: If Air Canada is your airline of selection, check out the TD Aeroplan Visa Infinite Card. It provides you entry to quite a few airline perks, and with Aeroplan’s journey rewards chart and most well-liked pricing coverage, you will get nice worth on your factors—if you know the way to play the factors recreation.
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TD Aeroplan Visa Infinite Card
- Annual payment: $139 (annual-fee rebate—circumstances apply to qualify)
- Earn charges: 1.5 Aeroplan factors per $1 spent on fuel, groceries and purchases made immediately by Air Canada (together with trip packages), and 1 level per $1 on all different purchases
- Welcome bonus: You’ll be able to earn as much as 30,000 Aeroplan factors and no annual payment for the primary yr. Situations apply. Account should be authorised by March 4, 2024.
- Anniversary bonus: Earn 10,000 Aeroplan factors if you spend a minimum of $7,500 inside 12 months of opening the account.
- Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000
Execs
- Use your Aeroplan factors for each Air Canada seat with out restrictions or blackout intervals. Plus, not like most airline loyalty applications, you should use factors on a number of airways within the Star Alliance program, together with United Airways and Lufthansa.
- Earn Aeroplan Standing Qualifying Miles along with your on a regular basis purchases, permitting you to progress in Aeroplan standing and get entry to perks like precedence seat choice, complimentary checked luggage and airport lounge entry.
- Get a rebate in your Nexus customs journey software as soon as each 48 months (price $100).
- Features a complete suite of journey insurance coverage, together with lodge and motel housebreaking insurance coverage.
Cons
- Because the TD Aeroplan Visa Infinite Card is an airline loyalty card, you possibly can’t redeem factors for flights on simply any airline.
- You get a number of worth with Aeroplan, however factors are redeemed in line with a flight reward chart, together with particular journey zones. Although this can assist maximize the worth of your rewards, it’s not probably the most intuitive program for newbie collectors.
Having an Aeroplan bank card like this one will get you most well-liked pricing on flight redemptions. However you possibly can technically earn factors quicker with the Amex Cobalt by transferring Amex Membership Rewards to Aeroplan. Be taught extra about why the Amex Cobalt is a powerful possibility for Aeroplan members.
Greatest low-interest Visa
At a look: For many who are carrying debt, a lower-interest bank card is a wonderful instrument. The RBC Visa Basic Low Price Possibility is a reasonably no-frills card with a low 12.99% rate of interest. It comes with some accomplice perks, similar to reductions at Petro-Canada fuel.
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RBC Visa Basic Low Price Possibility
- Annual payment: $20
- Welcome provide: You’ll be able to
- Annual revenue requirement: None
Execs
- The low annual payment and no minimal revenue requirement imply this card is accessible to most Canadians.
- The cardboard’s low rate of interest applies to purchases and money advances.
- Achieve entry to RBC Gives by RBC on-line banking or your cell banking app, and obtain financial savings presents or bonus Avion factors on buying, journey and extra.
- Earn Petro Factors and save on gasoline at Petro-Canada.
Cons
- Primarily designed that will help you save on curiosity, this card doesn’t include journey insurance coverage advantages.
- There’s no steadiness switch promotion to maneuver debt from a higher-interest card.
How we decide one of the best Visa playing cards
Our editors apply their bank card experience and information of Canadians’ monetary targets to give you choice standards that matches the wants of the meant cardholder. To seek out one of the best Visa playing cards, we began with our checklist of the greatest bank cards total—with every class having its personal distinct methodology. When one of the best card total just isn’t a Visa card, we pull the highest-ranked Visa different. We do the identical for Mastercard and American Categorical. The addition of hyperlinks from affiliate companions has no bearing on the outcomes. Learn extra about our choice course of and about how MoneySense makes cash.
Extra of Canada’s greatest bank cards:
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