Posted by 
The best credit cards in Canada for 2025 have been ranked, and there are so many perks and benefits to explore based on your personal spending habits and financial priorities.
Credit Card Genius has revealed its top picks for 2025, and it’s a mix of longtime favourites and hot new options. Whether you’re after instant approval, cash back, travel rewards or low-interest options, this ranking dives into the best cards across 35 categories for every type of spender.
The credit card ranking site looked at a total of 206 credit cards in Canada, analyzing over 126 features like rewards, fees, interest rates, benefits and more. For a fair comparison, annual reward estimates are based on monthly spending of $2,000 split “sensibly” across typical categories like gas and groceries.
Ready to see if your card made the cut or if it’s time for an upgrade? Let’s get into it.
Best credit card in Canada overall
American Express Cobalt Card
This card dominates again in 2025, topping the list for the eighth consecutive year. Why? Its sky-high rewards (up to 5 points per $1 on food), no minimum income requirement and exclusive perks make it a favourite.
Not only did the Cobalt card win best overall credit card in Canada, but it also dominated several specific categories, taking the top spot in Best Travel, Best Grocery, Best Restaurant, Best Rewards, People’s Choice and Best American Express.
- Annual fee: $155.88
- Welcome bonus: $300
- Annual rewards: $1,080
- Instant approval: Yes
The one drawback is that Amex cards aren’t as widely accepted as Visa or Mastercard. But if you love dining out or booking trips, this one’s a keeper.
Best cash-back credit card
MBNA Rewards World Elite Mastercard
If your reward of choice is just straight cash, look no further. This card gives you up to 5 points per $1 spent, with options to redeem as cash (valued at 4.15%). Bonus: You’ll get 10% more points on your birthday!
- Annual fee: $120
- Welcome bonus: $249
- Annual rewards: $570
- Instant approval: Yes
Heads up: The income requirements are steep — $80,000 personal or $150,000 household.
Best no-fee cash-back credit card
Rogers Red World Elite Mastercard
Looking for no fees? This card offers 1.5% cash back on everything and up to 2% if you’re a Rogers customer. Use it toward your bill for even more perks.
- Annual fee: $0
- Welcome bonus: $0
- Annual rewards: $360
Income requirements remain high at $80,000 personal or $150,000 household, though.
Best travel credit card
American Express Cobalt Card
Yes, it’s the best overall card and the best for travel. This Amex card lets you transfer points to Aeroplan for up to a 10% return on spending, and enjoy perks like travel insurance and Front Of The Line access.
- Annual fee: $155.88
- Welcome bonus: $300
- Annual rewards: $1,080
- Instant approval: Yes
Best low-interest credit card
MBNA True Line Mastercard
If you’re carrying a balance, this card is a game-changer. With 0% interest on balance transfers for 12 months and a low permanent rate of 12.99%, it’s a solid choice.
- Annual fee: $0
- Annual rewards: $0
- Balance transfer savings: $1,551
- Instant approval: Yes
Best flexible rewards credit card
MBNA Rewards World Elite Mastercard
This card is a multitasker, making it perfect for Canadians who want rewards they can truly customize. It offers up to 5 points per $1 spent on groceries, restaurants and recurring bills, with multiple redemption options like travel, cash back, gift cards and more.
- Annual fee: $120
- Welcome bonus: $300
- Annual rewards: $686
- Instant approval: Yes
Heads up: You’ll need to meet the relatively high income threshold of $80,000 personal or $150,000 household.
Best balance transfer credit card
MBNA True Line Mastercard
Struggling with credit card debt? This card gives you breathing room with a 0% interest rate on balance transfers for 12 months — one of the best offers on the market. Even better, the permanent interest rate on purchases and balance transfers is just 12.99%.
- Annual fee: $0
- Annual rewards: $0
- Balance transfer savings: $1,551
- Instant approval: Yes
One drawback is that it doesn’t offer any rewards for purchases, and cash advances come with a hefty 24.99% interest rate.
Best credit card with no foreign transaction fee
Scotiabank Gold American Express Card
Travelling abroad? This card eliminates the 2.5% foreign transaction fee, letting you save big on international purchases. It also offers up to 6% back on spending, plus 12 types of travel insurance to keep you covered on your adventures.
- Annual fee: $120
- Welcome bonus: $400
- Annual rewards: $588
Keep in mind: Like other Amex cards, its acceptance rate isn’t as high as Visa or Mastercard.
Best credit card for students
CIBC Aventura Visa Card for Students
For students looking to build their credit while earning rewards, this card is a no-brainer. It offers a solid travel rewards program, a welcome bonus and no annual fee. Plus, it includes a free SPC membership for added savings.
- Annual fee: $0
- Welcome bonus: $100
- Annual rewards: $83
Best credit card for newcomers
Tangerine Money-Back Credit Card
If you’re a newcomer to Canada, this card makes life easier with no annual fee, up to 2% cash back on select spending categories and no need for a sky-high credit score. You can even pick up to 3 spending categories for higher rewards if you deposit your cash back into a Tangerine Savings account.
- Annual fee: $0
- Welcome bonus: $100
- Annual rewards: $273
Whether you’re a student, a world traveller or someone paying off debt, these credit cards are tailored to suit different needs. You can find even more categories in Credit Card Genius’ full ranking.
Love this? Check out our MTL Blog noticeboard for details on jobs, benefits, travel info and more!
AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog’s Editorial team. For more information on our use of AI, please visit our Editorial Standards page.
