What credit card should you have at your annual income level?
Updated: May 17, 2024
Here are the top credit cards in Canada for low, middle, and high income earners.
When choosing the right credit card, not only do you need to consider the most attractive card features, but you also need to determine if you qualify in the first place.
Credit card income requirements in Canada are generally broken down into three different annual earning brackets: $0-$59,999, $60,000-$79,999, and $80,000+. The cards with a higher income requirement typically come with more benefits but may also come with a higher annual fee. Here are our top credit card suggestions based on your annual income level.
Best credit cards for low income in Canada (Less than $59,999)
If you have a low annual income, you can still find plenty of credit cards that come with comprehensive rewards programs and benefits and others just covering the basics. As long as you have a good credit score and meet the income requirement, you’ll likely qualify for one of our suggested best credit cards for low-income earners.
Tangerine Money-Back Credit Card
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2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
2%
Get a Tangerine Savings account and add a 3rd 2% cash back category.
3
Earn 0.50% on all your other everyday purchases.
0.5%
19.95%
Purchase APR
1.95%
Balance Transfer Rate 1.95% interest for first 6 months, 19.95% after that.
19.95%
Cash Advance APR $3.50 within Canada, $5.00 outside Canada
$0
Annual Fee $0 for additional cardholders
2.50%
Foreign Transaction Fee
Purchase APR
19.95%
Balance Transfer Rate
1.95%
Cash Advance APR
19.95%
Annual Fee
$0
Foreign Transaction Fee
2.50%
Fair
Recommended Credit Score
$12,000
Required Annual Personal Income
Recommended Credit Score
Fair
Required Annual Personal Income
$12,000
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
2%
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
3
Get a Tangerine Savings account and add a 3rd 2% cash back category.
0.5%
Earn 0.50% on all your other everyday purchases.
Earn 2% cash back on 2 categories of your choice (e.g. groceries, recurring bills, gas, drug stores, etc.)
2%
Get a Tangerine Savings account and add a 3rd 2% cash back category.
3
Earn 0.50% on all your other everyday purchases.
0.5%
19.95%
Purchase APR
1.95%
Balance Transfer Rate 1.95% interest for first 6 months, 19.95% after that.
19.95%
Cash Advance APR $3.50 within Canada, $5.00 outside Canada
$0
Annual Fee $0 for additional cardholders
2.50%
Foreign Transaction Fee
Purchase APR
19.95%
Balance Transfer Rate
1.95%
Cash Advance APR
19.95%
Annual Fee
$0
Foreign Transaction Fee
2.50%
Fair
Recommended Credit Score
$12,000
Required Annual Personal Income
Recommended Credit Score
Fair
Required Annual Personal Income
$12,000
Pros
-
No annual fee
-
Choose the spending categories where you want to earn the most cash back
-
Unlimited cash back—no maximum spending limit for any purchase category
-
Cash back is paid out monthly rather than annually
-
Periodically includes a special welcome offer where you can get extra cash back
-
1.95% interest on balance transfers for the first 6 months (1% transfer fee applies)*
Cons
-
Regular cash back rates are still lower than what you can get from a card with an annual fee
-
Limited extra perks or benefits beyond the cash back and balance transfer promotion
-
Generally not a good fit for shopping at warehouse clubs or wholesale grocers like Costco or Walmart
-
Tangerine does not have any physical bank branches
PC® Mastercard®
Earn 10 points per $1 spent at PC grocery stores
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
Earn 10 points per $1 spent everywhere
10 points
Earn 2c per litre in PC Optimum points at Esso and Mobil
2 cents
Earn 30 points per $1 when purchasing travel through President’s Choice
30 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
25 points
21.99%
Purchase APR *Standard Rate. *Basic rates may apply; see details on provider's site.
22.97%
Balance Transfer Rate
22.97%
Cash Advance APR
$0
Annual Fee
Purchase APR
21.99%
Balance Transfer Rate
22.97%
Cash Advance APR
22.97%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
No annual fee, ideal for budget-conscious shoppers
-
Earn 10 points per $1 spent everywhere
-
Accelerated points at Esso, Shoppers Drug Mart, and PC Travel
-
Points redeemable at over 2,500 stores nationwide
-
Purchase insurance and extended warranties for added protection
Cons
-
Middle-of-the-road rewards compared to other no-fee cards
-
Limited redemption options compared to some competitors
-
Lacks introductory benefits like bonus points
-
Requires spending at specific stores for maximum benefits
-
Point value may seem low initially, despite earning potential
10 points
Earn 10 points per $1 spent everywhere
2 cents
Earn 2c per litre in PC Optimum points at Esso and Mobil
30 points
Earn 30 points per $1 when purchasing travel through President’s Choice
25 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
Earn 10 points per $1 spent everywhere
10 points
Earn 2c per litre in PC Optimum points at Esso and Mobil
2 cents
Earn 30 points per $1 when purchasing travel through President’s Choice
30 points
Earn 25 points per $1 at Shoppers Drug Mart and Pharmaprix
25 points
21.99%
Purchase APR *Standard Rate. *Basic rates may apply; see details on provider's site.
22.97%
Balance Transfer Rate
22.97%
Cash Advance APR
$0
Annual Fee
Purchase APR
21.99%
Balance Transfer Rate
22.97%
Cash Advance APR
22.97%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
No annual fee, ideal for budget-conscious shoppers
-
Earn 10 points per $1 spent everywhere
-
Accelerated points at Esso, Shoppers Drug Mart, and PC Travel
-
Points redeemable at over 2,500 stores nationwide
-
Purchase insurance and extended warranties for added protection
Cons
-
Middle-of-the-road rewards compared to other no-fee cards
-
Limited redemption options compared to some competitors
-
Lacks introductory benefits like bonus points
-
Requires spending at specific stores for maximum benefits
-
Point value may seem low initially, despite earning potential
MBNA Smart Cash Platinum Plus Mastercard
Earn 5% Cash Back on gas and groceries for the first 6 months (until $500 spend cap reached)
2%
Earn 2% on gas and groceries ($500 monthly spend cap)
0.5%
Get 0.5% cash back on all other purchases
Earn 2% on gas and groceries ($500 monthly spend cap)
2%
Get 0.5% cash back on all other purchases
0.5%
19.97%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee Up to 9 additional card with no annual fee
Purchase APR
19.97%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
-
No annual fee
-
Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
-
Car rental discounts
-
MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
-
Purchase assurance and extended warranty
Cons
-
Monthly spend cap on the welcome bonus rewards earn rate
-
Limited reward categories
-
Potential fees for payment plan
-
No travel rewards or premium perks
2%
Earn 2% on gas and groceries ($500 monthly spend cap)
0.5%
Get 0.5% cash back on all other purchases
Earn 2% on gas and groceries ($500 monthly spend cap)
2%
Get 0.5% cash back on all other purchases
0.5%
19.97%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee Up to 9 additional card with no annual fee
Purchase APR
19.97%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Good
Recommended Credit Score
Recommended Credit Score
Good
Pros
-
Generous Welcome Bonus to earn accelerated rewards during the initial six months of account opening
-
No annual fee
-
Ongoing cash back rewards after the welcome bonus - up to 2% cash back on eligible purchases
-
Car rental discounts
-
MBNA Payment Plan: Flexible payment options for purchases over $100, which is a nice perk for budget management.
-
Purchase assurance and extended warranty
Cons
-
Monthly spend cap on the welcome bonus rewards earn rate
-
Limited reward categories
-
Potential fees for payment plan
-
No travel rewards or premium perks
Best credit cards for middle annual income earners ($60,000-$79,999)
In terms of credit cards, middle-income earners are generally classified as individuals who make between $60,000- $79,999 annually or who have a combined household income of $100,000 or more. The types of credit cards that fall into this category tend to have more perks and benefits, higher welcome bonuses, and high annual fees. These are our top credit card picks for middle-income earners.
TD® Aeroplan® Visa Infinite* Card
Earn up to $1,200 in value† including up to 50,000 Aeroplan points†. Conditions Apply. Account must be approved by June 3, 2024.
Expires
Jun 4, 2024
1.5 points
for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)†
1 point
Earn 1 point for every $1 you spend on all other purchases†
2x
Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.†
50%
Earn 50% more Aeroplan points at Starbucks when you link your card to your account.†
1
NEXUS application fee rebate every 48 months†
1st
checked bag free for you and up to 8 travel companions†
for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)†
1.5 points
Earn 1 point for every $1 you spend on all other purchases†
1 point
Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.†
2x
Earn 50% more Aeroplan points at Starbucks when you link your card to your account.†
50%
NEXUS application fee rebate every 48 months†
1
checked bag free for you and up to 8 travel companions†
1st
20.99%
Purchase APR APR for purchases 20.99%†
22.99%
Balance Transfer Rate APR for balance transfers 22.99%†
22.99%
Cash Advance APR APR for cash advances 22.99%†
$139
Annual Fee Additional cardholder is $75.†
2.50%
Foreign Transaction Fee Foreign transaction fee: 2.50%†
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$139
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
The card has a high earn rate for Aeroplan Points, generating 1.5 points† per $1 spent on eligible purchases.
-
Insurance offered includes coverage in the categories that travellers need, and is generally better than its Aeroplan peers at a similar annual fee level.
Cons
-
No airport lounge membership or free lounge access.
-
Aeroplan points can’t be redeemed for flights outside the Star Alliance network, nor can they be redeemed for cash credit. This makes them less flexible than some competing travel rewards programs.
1.5 points
for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)†
1 point
Earn 1 point for every $1 you spend on all other purchases†
2x
Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.†
50%
Earn 50% more Aeroplan points at Starbucks when you link your card to your account.†
1
NEXUS application fee rebate every 48 months†
1st
checked bag free for you and up to 8 travel companions†
for every $1 spent on eligible gas, grocery and direct through Air Canada® purchases (including Air Canada Vacations®)†
1.5 points
Earn 1 point for every $1 you spend on all other purchases†
1 point
Earn points twice with Aeroplan partner brands and on the Aeroplan eStore.†
2x
Earn 50% more Aeroplan points at Starbucks when you link your card to your account.†
50%
NEXUS application fee rebate every 48 months†
1
checked bag free for you and up to 8 travel companions†
1st
20.99%
Purchase APR APR for purchases 20.99%†
22.99%
Balance Transfer Rate APR for balance transfers 22.99%†
22.99%
Cash Advance APR APR for cash advances 22.99%†
$139
Annual Fee Additional cardholder is $75.†
2.50%
Foreign Transaction Fee Foreign transaction fee: 2.50%†
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$139
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
The card has a high earn rate for Aeroplan Points, generating 1.5 points† per $1 spent on eligible purchases.
-
Insurance offered includes coverage in the categories that travellers need, and is generally better than its Aeroplan peers at a similar annual fee level.
Cons
-
No airport lounge membership or free lounge access.
-
Aeroplan points can’t be redeemed for flights outside the Star Alliance network, nor can they be redeemed for cash credit. This makes them less flexible than some competing travel rewards programs.
American Express Cobalt® Card
Earn up to 15,000 Membership Rewards points
5x
Earn 5 times he points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
3x
Earn 3 times the points on eligible streaming subscriptions in Canada.
2x
Get 2 times the points on eligible ride shares, transit & gas in Canada.
1x
Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
1x
Earn 1 point for every $1 in Card purchases everywhere else
$100 USD
Get up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel.
Earn 5 times he points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
5x
Earn 3 times the points on eligible streaming subscriptions in Canada.
3x
Get 2 times the points on eligible ride shares, transit & gas in Canada.
2x
Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
1x
Earn 1 point for every $1 in Card purchases everywhere else
1x
Get up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel.
$100 USD
21.99%
Purchase APR on purchases
21.99%
Cash Advance APR
$155.88
Annual Fee 12.99/mo
2.50%
Foreign Transaction Fee
Purchase APR
21.99%
Cash Advance APR
21.99%
Annual Fee
$155.88
Foreign Transaction Fee
2.50%
Fair
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Fair
Required Annual Personal Income
$0
Required Annual Household Income
$0
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
5x
Earn 5 times he points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
3x
Earn 3 times the points on eligible streaming subscriptions in Canada.
2x
Get 2 times the points on eligible ride shares, transit & gas in Canada.
1x
Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
1x
Earn 1 point for every $1 in Card purchases everywhere else
$100 USD
Get up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel.
Earn 5 times he points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
5x
Earn 3 times the points on eligible streaming subscriptions in Canada.
3x
Get 2 times the points on eligible ride shares, transit & gas in Canada.
2x
Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
1x
Earn 1 point for every $1 in Card purchases everywhere else
1x
Get up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel.
$100 USD
21.99%
Purchase APR on purchases
21.99%
Cash Advance APR
$155.88
Annual Fee 12.99/mo
2.50%
Foreign Transaction Fee
Purchase APR
21.99%
Cash Advance APR
21.99%
Annual Fee
$155.88
Foreign Transaction Fee
2.50%
Fair
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Recommended Credit Score
Fair
Required Annual Personal Income
$0
Required Annual Household Income
$0
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
Scotiabank Momentum® Visa Infinite
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). No annual fee in the first year, including on additional cards.
4%
For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
2%
For every $1 you spend on gas and daily transit purchases
1%
Cash back on all other purchases with no cash back limit
For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
4%
For every $1 you spend on gas and daily transit purchases
2%
Cash back on all other purchases with no cash back limit
1%
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$120
Annual Fee $50 per supplementary card
2.50%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$120
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
High earn rate on everyday spending categories
-
Comprehensive travel and purchase insurance
-
Visa Infinite perks such as concierge, events, and special offers
-
25% Car rental discounts at Avis and Budget
-
Mobile device insurance
-
Up to $200 welcome bonus
Cons
-
Income requirements are higher: $60k personal or 100k household
-
Cash back can only be redeemed once a year
4%
For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
2%
For every $1 you spend on gas and daily transit purchases
1%
Cash back on all other purchases with no cash back limit
For every $1 you spend on grocery store purchases, recurring bill payments and subscription purchases
4%
For every $1 you spend on gas and daily transit purchases
2%
Cash back on all other purchases with no cash back limit
1%
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$120
Annual Fee $50 per supplementary card
2.50%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$120
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
Pros
-
High earn rate on everyday spending categories
-
Comprehensive travel and purchase insurance
-
Visa Infinite perks such as concierge, events, and special offers
-
25% Car rental discounts at Avis and Budget
-
Mobile device insurance
-
Up to $200 welcome bonus
Cons
-
Income requirements are higher: $60k personal or 100k household
-
Cash back can only be redeemed once a year
Top Canadian credit cards for high-income earners ($80,000+)
Our final category is for high-income earners who make $80,000+ annually as individuals or who have a combined annual household income of $150,000+. High-income credit cards typically come with an attractive array of benefits and tend to have higher rewards earning potential and larger welcome bonuses. Unsurprisingly, these credit cards also normally come with a hefty annual fee. However, the benefits and perks that come with premium cards can be worth the annual fee. These are our top picks for high-income level credit cards.
BMO Ascend™ World Elite®* Mastercard®
Get up to 90,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.*
Expires
May 31, 2024
5x
5x the points for every $1 spent on eligible travel purchases*
3x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
1 point for every $1 spent everywhere else*
5x the points for every $1 spent on eligible travel purchases*
5x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
3x
1 point for every $1 spent everywhere else*
1x
20.99%
Purchase APR
23.99%
Balance Transfer Rate 21.99% for Quebec residents
23.99%
Cash Advance APR
$150
Annual Fee
2.50%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$150
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
5x
5x the points for every $1 spent on eligible travel purchases*
3x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
1x
1 point for every $1 spent everywhere else*
5x the points for every $1 spent on eligible travel purchases*
5x
3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments*
3x
1 point for every $1 spent everywhere else*
1x
20.99%
Purchase APR
23.99%
Balance Transfer Rate 21.99% for Quebec residents
23.99%
Cash Advance APR
$150
Annual Fee
2.50%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
23.99%
Cash Advance APR
23.99%
Annual Fee
$150
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
High-value welcome offer
-
Flexible airport lounge access
-
BMO Rewards points can be used to cover flight taxes and fees
-
Great for those who frequently rent cars
-
Good for Costco and No Frills shoppers
Cons
-
So-so earn rates relative to its annual fee
-
Points have low redemption value compared to other travel rewards programs
-
Charges foreign transaction fees
-
Relatively high minimum income requirements
Rogers™ World Elite Mastercard
$25 Welcome Bonus in cash back rewards upon first card purchase within 3 months of receiving your card2
3%
Earn 3% unlimited cash back on purchases made in U.S. dollars.
1.5%
Earn 1.5% unlimited cash back on everything else.
Earn 3% unlimited cash back on purchases made in U.S. dollars.
3%
Earn 1.5% unlimited cash back on everything else.
1.5%
19.99%
Purchase APR Increasing to 20.99% April 2024
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee To maintain eligibility, you must spend at least $15,000/year.
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
Lucrative cash back rates on USD and CAD purchases
-
No annual fee with valuable insurance benefits
-
Competitive against foreign transaction fee cards
-
Convenient cash back redemption options
-
Travel insurance perks and airport lounge access
-
Welcome bonus in cash back rewards
Cons
-
High income requirement: $80,000 personal or $150,000 household
-
Foreign transaction fee applies
-
Limited redemption options for statement credits
3%
Earn 3% unlimited cash back on purchases made in U.S. dollars.
1.5%
Earn 1.5% unlimited cash back on everything else.
Earn 3% unlimited cash back on purchases made in U.S. dollars.
3%
Earn 1.5% unlimited cash back on everything else.
1.5%
19.99%
Purchase APR Increasing to 20.99% April 2024
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$0
Annual Fee To maintain eligibility, you must spend at least $15,000/year.
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$0
Excellent
Recommended Credit Score
$80,000
Required Annual Personal Income
$150,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$80,000
Required Annual Household Income
$150,000
Pros
-
Lucrative cash back rates on USD and CAD purchases
-
No annual fee with valuable insurance benefits
-
Competitive against foreign transaction fee cards
-
Convenient cash back redemption options
-
Travel insurance perks and airport lounge access
-
Welcome bonus in cash back rewards
Cons
-
High income requirement: $80,000 personal or $150,000 household
-
Foreign transaction fee applies
-
Limited redemption options for statement credits
The Platinum Card
Earn 70,000 Membership Rewards® points1*
2x
Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
1x
point for every $1 in all other Card purchases
Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
2x
point for every $1 in all other Card purchases
1x
21.99%
Purchase APR The Preferred rate of 21.99% applies to your Flexible Payment Option balance.
$799
Annual Fee Includes $200 annual travel credit and $200 annual dining credit
2.50%
Foreign Transaction Fee
Purchase APR
21.99%
Annual Fee
$799
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
Recommended Credit Score
Excellent
Pros
-
Earn 5X Rewards Points for flights and on prepaid hotels booked with American Express Travel
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,200 airport lounges worldwide
-
Annual statement credits: $200 airline fee credit, $200 hotel credit, $240 digital entertainment credit
-
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
-
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
-
High annual fee of $799, one of the heftiest among Canadian cards
-
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
-
Requires good to excellent credit for eligibility
2x
Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
1x
point for every $1 in all other Card purchases
Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada
2x
points for every $1 in Card purchases on eligible travel
2x
point for every $1 in all other Card purchases
1x
21.99%
Purchase APR The Preferred rate of 21.99% applies to your Flexible Payment Option balance.
$799
Annual Fee Includes $200 annual travel credit and $200 annual dining credit
2.50%
Foreign Transaction Fee
Purchase APR
21.99%
Annual Fee
$799
Foreign Transaction Fee
2.50%
Excellent
Recommended Credit Score
Recommended Credit Score
Excellent
Pros
-
Earn 5X Rewards Points for flights and on prepaid hotels booked with American Express Travel
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,200 airport lounges worldwide
-
Annual statement credits: $200 airline fee credit, $200 hotel credit, $240 digital entertainment credit
-
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
-
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
-
High annual fee of $799, one of the heftiest among Canadian cards
-
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
-
Requires good to excellent credit for eligibility
Hannah Logan is a Canadian freelancer writer and blogger who specializes in personal finance and travel. You can follow her adventures on her travel blog EatSleepBreatheTravel.com or find her on Instagram @hannahlogan21.
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